CPI-IW revised from the base year 2001 to 2016: Does it impact your salary or pension?

The Union government on Thursday revised the base year for computing Consumer Price Index (Industrial Workers) (CPI-IW) from the present 2001 to 2016 after a gap of 15 years. Presenting the report on the base revision of Consumer Price Index for Industrial Workers (CPI-IW) to 2016=100 from existing 2001=100, Union Labour Minister Santosh Kumar Gangwar…

Negotiation between Bank Officers and IBA derailed: Agitational programs started

Extract of the circular dated 18.10.2020 from four officers’ organizations ALL INDIA BANK OFFICERS’ CONFEDERATION (AIBOC) ALL INDIA BANK OFFICERS’ ASSOCIATION (AIBOA) INDIAN NATIONAL BANK OFFICERS’ CONGRESS (INBOC) NATIONAL ORGANIZATION OF BANK OFFICERS (NOBO) As you are aware that after a prolonged lapse of time due to the external environment and conditions of life, an…

Pure risk premium product “Saral Jeevan Bima” life policy offer mandatory for all the life insurance companies

The insurance regulator IRDAI has come out with a standard individual term life insurance product, to be known as “Saral Jeevan Bima”. The policy shall be mandatorily offered by all the life insurance companies from January 1, 2021, onwards. In this respect, all life insurers have to file the product with the insurer latest by…

SC gives November 2 deadline to Centre for an action plan to implement waiver of compound interest

Directing the government to implement the decision to waive “interest on interest” without delay, yesterday the Supreme Court directed the Centre to come back “with an appropriate action plan” on November 2.  The above direction came from Apex court when solicitor general Tushar Mehta, representing the Centre, said the waiver would come into effect by…