With an aim to discourage cash transactions, the Finance Ministry has set up a high-level committee to suggest steps to promote card payments through incentives like tax rebates and cash back schemes

New Delhi: With an aim to discourage cash transactions, the Finance Ministry has set up a high-level committee to suggest steps to promote card payments through incentives like tax rebates and cash back schemes. The 11-member committee, headed by former Finance Secretary Ratan P Watal, will recommend various measures to “incentivise transactions through cards and digital means, e.G., through tax rebates/incentives, introduction of cash back/lottery,” the ministry said. The panel, which will review the payments system in the country and...

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7th Pay Commission – Karnataka CM hints at Setting up New Panel

7th Pay Commission – Karnataka CM hints at Setting up New Panel – The comment raised hopes of state government employees who had gone on a day-long strike on June 2 demanding pay parity with Central government staff. Karnataka Chief Minister Siddaramaiah gave a strong indication to state government employees on Thursday when he hinted at setting up a pay panel to explore the possibility of salary hike that would benefit about 6.40 lakh employees. “State government employees have been demanding salaries on a par with the Central government...

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7th Pay Commission Effect – Govt Employees Showered – Government employees and their families comprise a large chunk of two-wheeler customers.

7th Pay Commission Effect – Govt Employees Showered – Government employees and their families comprise a large chunk of two-wheeler customers. Two-wheeler majors, including Hero MotoCorp and Honda, have started offering exclusive discounts and offers to govt employees and pensioners to expand sales. This concessions to the govt employees comes after enhanced pay packages under the 7th Pay Commission comes into effect from January this year. The country’s largest two-wheeler maker Hero MotoCorp is offering cash discounts of Rs 1,500 on...

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NPS Employees shall eligible for benefit of ‘Retirement gratuity and Death gratuity’ as per CCS (Pension) Rule,1972 – Finance Ministry issued orders on 26.8.2016

NPS Employees shall eligible for benefit of ‘Retirement gratuity and Death gratuity’ as per CCS (Pension) Rule,1972 – Finance Ministry issued orders on 26.8.2016 Extension of benefits of (Retirement Gratuity and Death Gratuity) to the Central Government employees covered by new Defined Contribution Pension System (National Pension System)- regarding. No.7/5/2012-P&PW(F)/B Ministry of Personnel, Public Grievances and Pensions Department of Pension and Pensioners Welfare Lok Nayak Bhavan, Khan Market, New De1hi-110 003, Dated the...

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Railways must implement decisions on staff transfer: CAT

Railways must implement decisions on staff transfer: CAT Chennai: The Central Administrative Tribunal (CAT) has ruled that decisions on the transfer of 600 employees taken by a machinery, set up by Railways to settle disputes, should be implemented. Justice G Rajasuria, judicial member of CAT, who disposed of the original applications filed by Southern Railway Mazdoor Union last week, said the minutes of the meeting did not disclose what transpired during the discussion and what points and suggestions of the union were turned down by...

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Clean up the employees pension scheme

Clean up the employees’ pension scheme Though a majority of organised workers are covered under the Employees’ Pension Scheme (EPS) 1995, there is still very low transparency level. Many readers might not have even heard about it because EPS is not a separate scheme. It is just an add-on to the Employee Provident Fund (EPF) scheme and all EPF members also automatically become EPS members. The EPS is plagued with several problems. First, the pension provided by it is very low (i.e. minimum pension under EPS scheme now is only Rs 1,000...

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7th Pay Commission report: New panel set up, controversy hit IAS cadre under scanner

7th Pay Commission report: New panel set up, controversy hit IAS cadre under scanner The 7th Pay Commission report is still grabbing headlines as the various permutations and combinations are still being bandied about and discussed threadbare and now it spans a big controversy that has to do with the near monopoly currently enjoyed by the IAS and how to end it, once and for all. Moving forward, as per the requirement of the report, the Narendra Modi government has set up a task force to review the cadre structure of all Organised Group...

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