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Saturday, April 9, 2016

Govt. is considering to withheld 50% of 7th CPC hike

Govt. is considering to withheld 50% of 7th CPC hike

The government is considering an innovative proposal under which 50% of increased salary of higher-income government staff under the Seventh Pay Commission will be compulsorily invested in bank capitalisation bonds. The proceeds will be used to recapitalise banks without additional pressure on the fisc. While this will result in less cash in the hands of higher-income employees, as a sweetener they will get income tax rebate on the amount invested. 

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Bank Unions Oppose PLI Scheme for Senior Bank Executives

AIBOC and AIBEA have written a letter to the DFS Secretary requesting him to review the recently introduced PLI Scheme for Senior Bank Execu...

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