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EPFO) to at least ₹21,000 from ₹15,000 now to widen the social security coverage, a step towards achieving universal social security. The proposal, which has been on the backburner for several years now, is being re-looked at. «We are evaluating all options and a decision in this regard could be taken by the new government,» the official said. The government is of the view that strong balance sheet of India Inc will help cushion the extra financial burden that enterprises will incur due to enhanced wage ceiling, a senior government official told ET.

Waverly Advisors has expanded its operations in the eastern US with the acquisition of an investment advisory firm in North Carolina. Waverly, a top fee-only RIA, is making its maiden foray into Charlotte, North Carolina, by acquiring McShane Partners, which was among the first fee-only investment advisory firms in the city.

P2P.org has announced to launch its Staking-as-a-Business (SaaB) model as its total value locked (TVL) surpasses $7.5 billion.

Infrastructure Fund (NIIF) on Wednesday announced a $200 million (about Rs 1,660 crore) investment in digital infrastructure player Ibus Network and Infrastructure. Ibus will be deploying the funds to scale operations in an organic way by expanding its capacities and for inorganic growth, according to a statement. The company aims to strengthen its position as a leader in in-building solutions, outdoor small cells and managed WiFi services and expand its presence in new emerging sectors like Internet of Things (IoT) solutions, it added.

Insurance broker March has launched a digital asset custody insurance product aimed at the asset servicing market.

New Delhi: The Ministry of Road Transport and Highways, in the first 100 of the formation of the next government, could unveil a mega plan for building 50,000 km of new, access-controlled, expressways by 2037 to help reduce logistic costs. The programme is expected to replace the Bharatmala scheme and will sync all future road projects with the government’s Vision 2047 for the sector. Besides, the government is considering satellite- or GPS-based tolling on select stretches by replacing FASTags to do away with wait time at toll plazas, and rolling out a cashless treatment facility for all road accident victims. The first 100 days of the new government will see the ministry laying down short-, medium- and long-term targets across the identified areas as part of the comprehensive development of India’s road transport sector, a senior government official told ET.

Shyam Metalics and Energy Ltd on Tuesday announced that it will invest Rs 650-750 crore in its stainless steel business over the next few years. The company said it will establish a state-of-the-art stainless steel hot rolled coils (HRC) facility at its existing plant in Sambalpur, Odisha. This facility, with a capacity of 0.3 million tonnes per year, will specialise in producing high-quality 200 and 400 series stainless steel hot rolled coils, as stated by the company in a statement. Shyam Metalics emphasised its commitment to leveraging captive raw materials such as direct-reduced iron (DRI), power, and ferro alloys for the project.

Before locking their money in fixed deposits (FDs), investors tend to compare interest rates offered by different banks in order to maximise their earnings.

Merck Tuesday said it has appointed Dhananjay Singh as the managing director of Merck Life Science in India. Singh takes on the role in addition to his current position as head of science and lab solutions commercial, India. Effective April 1, Singh has taken over from Sreenath NS, who is retiring after 36 years of working with Merck in India.

Stratos Private Wealth on Tuesday announced its plans to go bicoastal by expanding into southern New Jersey and Westchester, New York.

The sovereign interoperability layer Union Labs has partnered with Lava to initiate an incentive Remote Procedure Call (RPC) campaign.

Krishna Trilokcand Vasvani, Jaipur, Rajasthan.  

Gujarat International Finance Tec-City may soon enjoy a five-day work week, months after the government eased alcohol consumption rules in GIFT City to make it more attractive to global financial institutions. A working group set up by the International Financial Services Centres Authority (IFSCA) on uniform working hours and a holiday list for IBUs has recommended a five-day work week and a decision in this regard may be announced soon, according to two officials aware of the matter. «The recommendations are being examined, and we expect a nod for a five-day work week within the first quarter of 2024-25,» said one of the officials, who did not wish to be identified, adding that IBUs will also adopt the Mumbai holiday calendar. «This is required because most of the IBUs are involved in treasury operations, which, for Indian lenders, are mostly done through Mumbai, and also because overseas units of Indian banks follow the Mumbai holiday calendar.» The working group said in its recommendations that a five-day work week will align with practices adopted in international financial centres and offshore units of Indian banks. «The government wants to position GIFT City as a major financial hub. All these steps are very important benchmarks for an aspiring international financial centre like GIFT IFSC,» said another official.

Yogi Adityanath emphasized the nationwide sentiment in favour of the National Democratic Alliance (NDA) ahead of the 2024 Lok Sabha elections, spanning from North to South and East to West, pointing out that the people are assured of Prime Minister Modi's inevitable return. Addressing a public meeting in Wardha on Monday, to seek support for the BJP's candidate and incumbent MP from the LS constituency, Ramdas Chandrabhanji Tadas, Adityanath highlighted the achievements of the government in the last 10 years, crediting the PM with elevating India's global stature, fortifying security, and implementing numerous welfare initiatives for the impoverished. The CM also extended warm wishes for the Indian New Year to Maharashtra's populace on the occasion. In a scathing critique directed towards the Congress Party, Chief Minister Yogi Adityanath said that the party lacked leadership, coherent policies, and genuine intentions.

Mumbai will face double property tax if they fail to display signboards in Marathi or Devanagari script. This was announced by the Brihanmumbai Municipal Corporation (BMC) today. The BMC further stated that it will revoke the licenses of illuminated boards lacking Marathi or Devanagari lettering, with license renewal costs ranging from Rs 25,000 to Rs 1.5 lakh. This enforcement aligns with the Supreme Court's directive and the Maharashtra Shops and Establishments Rules. The BMC's decision was approved during a review meeting chaired by BMC commissioner-cum-administrator Bhushan Gagrani in view of the compliance deadline set by the Supreme Court earlier.

₹45 per share, which is same as the current share price. Also read: Indian stock market to remain closed on May 20 amid Lok Sabha elections in Mumbai “After thorough discussions and careful consideration of the company's financial performance, the Board of Directors has unanimously considered and declared Interim Dividend of 100%. The interim dividend shall be paid within 30 days from the date of its declaration.

Kotak Alternate Asset Managers Limited announced that its iconic fund has successfully raised Rs 2,000 crore. Kotak Iconic Fund, an open-ended fund, has been conceptualised as an equity multi-advisor portfolio solution. The fund has maintained a flexible approach by adopting diversified active and passive strategies across market capitalisation and tactical allocations, according to the press release. Kotak Iconic Fund solves this with its disciplined framework-based investing and risk management to deliver a smooth investing journey.

Aditya L1, designed by the Indian Space Research Organization (ISRO), is continuously studying the Sun but will not be able to observe the total solar eclipse on April 8, 2024. The eclipse, a rare event visible over vast swaths of North America, has sparked excitement, with various events planned to witness the celestial phenomenon. For the first time in almost a century, the western and northern parts of New York State will experience a total eclipse. The path of totality, a narrow stretch where the Moon obscures the Sun entirely, tracks across cities, captivating the USA. In its statement about the event, NASA explained, «On April 8, 2024, a total solar eclipse will cross North America, passing over Mexico, the United States, and Canada. A total solar eclipse happens when the Moon passes between the Sun and Earth, completely blocking the face of the Sun. The sky will darken as if it were dawn or dusk.»

Wipro: Thierry Delaporte, the CEO and MD of Wipro, has stepped down from his role, as announced in a regulatory filing by the company on April 6. His term as CEO was originally set to conclude in July 2025, but it was prematurely ended with his resignation announced late on Saturday. Delaporte will be officially relieved of his CEO duties from May 31, 2024.

Somvati Amavasya Significance Somvati Amavasya is dedicated to worship ancestors or forefathers and hence people are advised to use it to get rid of Pitru Dosha. Hence on this day, people go for a holy dip in the Ganga and perform rituals like hawan and yajna, charity, feeding animals, reciting mantras, and more.