Department Financial News

Infosys for the mass termination of trainees, seeking immediate intervention of two central ministries, the Education and the Skill Development & Entrepreneurship ministry. “NITES…seeks your urgent intervention in a grave matter concerning Infosys Ltd’s blatant violation of The Apprentices Act, 1961, and The Apprenticeship Rules, 1992,” advocate Harpreet Singh Saluja, president of NITES, told union education minister Dharmendra Pradhan, in a letter reviewed by ET. This comes days after the Karnataka labour department found no violations of labour laws by the Bengaluru-headquartered IT company in the layoffs of over 300 trainees. Infosys terminated these workers claiming that they had failed to clear three rounds of an internal assessment programme.

Ola Electric Mobility has laid off around 1,200 employees and contract workers over the past two months, as it grapples with deepening losses and growing regulatory scrutiny, people familiar with the matter told ET. The job cuts span multiple departments, including procurement, fulfilment, customer relations, and charging infrastructure, according to a Bloomberg report earlier in the day. ET has reached out to Ola Electric for comments.

Piyush Goyal started on a trip to the United States on Monday to pursue trade talks, two government officials said, with weeks to go for President Donald Trump's planned reciprocal tariffs. Goyal's visit was sudden, as he departed after cancelling previously scheduled meetings until March 8, the officials said. He is also the minister for industry. India's trade ministry did not immediately respond to an e-mailed request for comment.

Donald Trump's adviser Elon Musk on Sunday (Eastern time) took to X to retweet a post demanding the closure of America's Central Bank, the Federal Reserve. The post, which showcased a graph, was shared with the caption 'End the Fed', to which Musk wrote 'The Fed is absurdly overstaffed'. This, however, is not the first time that the billionaire tech entreprenuer has rallied behind the idea of scrutinising the top independent body.

Subscribe to enjoy similar stories. On 25 February, the Avishkar Hyperloop student team from IIT-Madras and the railway ministry along with ArcelorMittal, Hindalco and Larsen & Toubro unveiled the Hyperloop test track. Once commissioned, it could cut Delhi-Jaipur travel (250km) to 30 minutes compared with 1 hour by air and 4–5 hours by road.

Subscribe to enjoy similar stories. The Centre has engaged its top disaster management agency to carve out an insurance product to mitigate the impact of losses from climate change-related events.

Subscribe to enjoy similar stories. New Delhi: The Centre has approved nearly 97% of the amount allocated to states under the Special Assistance scheme, which provides interest-free loans for 50 years to states, during the first 10 months of the ongoing fiscal year, two people aware of the matter told Mint. The amount approved is ₹1.22 trillion.

boost tourism and promote sustainable water transport, the Delhi government is set to launch a ferry and cruise service along a 7-8 km stretch of the Yamuna River. The service will operate between Wazirabad Barrage (Sonia Vihar) and Jagatpur (ShTemple) in the national capital. The Delhi Tourism and Transport Development Corporation (DTTDC) has issued a request for proposals (RFP) to choose an operator for the two solar-powered cruise ships. Interested bidders must submit their pre-qualification, technical, and financial proposals by the due date.

high-security registration plates (HSRPs), as per officials. The government has made HSRPs mandatory for vehicles registered before April 1, 2019, to curb vehicle theft and bring uniformity in identification, placing the onus on manufacturers to install them before handing the vehicles to customers. It extended the deadline to fit HSRPs till April 30. The state government has also mandated HSRPs for an estimated 2.10 crore older vehicles registered before April 1, 2019.

The protest, which police said involved hundreds of people, was one of a wave of «Tesla Takedown» demonstrations staged across the country targeting billionaire Musk, who is spearheading the Trump administration's so-called Department of Government Efficiency, or DOGE. Throngs of protesters also descended on the electric vehicle maker's showrooms in Jacksonville, Florida, Tucson, Arizona, and other cities, blocking traffic, chanting and waving signs reading «Burn a Tesla: Save Democracy,» and «No Dictators in the USA.»

Marco Rubio said on Saturday he had signed a declaration to expedite delivery of approximately $4 billion in military assistance to Israel. The Trump administration, which took office on January 20, has approved nearly $12 billion in major foreign military sales to Israel, Rubio said in a statement, adding that it «will continue to use all available tools to fulfill America’s long-standing commitment to Israel’s security, including means to counter security threats.» Rubio said he had used emergency authority to expedite the delivery of military assistance to Israel to its Middle East ally, now in a fragile ceasefire with Hamas militants in their war in Gaza.

federal watchdog agency must remain in his job, a judge in Washington ruled on Saturday, saying President Donald Trump's bid to remove the special counsel was unlawful. U.S. District Judge Amy Berman Jackson sided with Hampton Dellinger, who leads the Office of Special Counsel, in a legal battle over the president's authority to oust the head of the independent agency that's likely headed back to the U.S. Supreme Court. Dellinger sued Trump last month after he was fired even though the law says special counsels can be removed by the president «only for inefficiency, neglect of duty, or malfeasance in office.» Jackson, who was nominated to the bench by Democratic president Barack Obama, quickly reinstated Dellinger in the job while he pursued his case.

Nirmala Sitharaman Saturday directed the Department of Expenditure to ensure that funding for all schemes and projects are routed through a single nodal agency from the next fiscal year and asked it to work with the Controller General of Accounts (CGA) for a smooth transition. Sitharaman suggested that the CGA examine whether it would be possible to make the government's annual accounts more user-friendly. She also asked the central government's accounting adviser to engage with counterparts in states to promote the adoption of the single nodal agency (SNA) system. Most of the large schemes are already routed through this system, which the minister said has helped save more than Rs 11,000 crore since 2021-22.

The Urban Development Department of the Delhi government said that building construction activity is regulated by the MCD and other local bodies in their respective jurisdictions under the DMC Act provisions through the finalisation of a layout plan, sanction of building plan and issuing completion certificate. «There is no provision under the DMC Act, 1957 by which a person is required to seek permission from police for carrying out the construction,» it said.

federal employees are soon to receive another email from the Department of Government Efficiency this week, and this time, it could be regarding the same job justification mail that they had received earlier. This email would also ask them to write about their recent job accomplishments but with a tweak, which will see this email come from individual agencies that have direct oversight of career officials, according to an NY Post report.

Tuhin Kanta Pandey assumed charge as the 11th chairman of the Securities and Exchange Board of India (Sebi) on Saturday. The career bureaucrat who served as the Finance Secretary till now, replaced Madhabi Puri Buch, whose 3-year tenure ended on Friday. He has been appointed for a term of three years. Pandey told the media that Sebi is a strong market institution and is evolving continuously and his goal is to make it the best market institution.

Subscribe to enjoy similar stories. The U.S. economy has proved pessimists wrong so many times, it’s tempting to think nothing can stop it.

Hyundai Motor India on Saturday said it has received a tax demand notice of Rs 15 crore from GST authorities. The automaker on February 28 received an order from Additional Commissioner, Central GST Department, Tamil Nadu, for the period FY 2020-21 and FY 2021-22 wherein a tax demand has been raised under Section 73 of Central Goods and Service Tax Act, 2017 and Tamil Nadu Goods and Services Tax Act, 2017, the company said.

Trump's initiative to slash spending, media outlets reported. It came a week after Elon Musk, the billionaire appointed by Trump to downsize the government, engineered a first mass email to the federal government's two million employees, ordering them to justify their work or risk being fired. The message, sent from the US Office of Personnel Management (OPM), the government's HR department, had created confusion among an already anxious workforce, as multiple federal agencies told staff to ignore it.

Income Tax Department has released Form 13 which is used for applying for lower or nil rate of TDS deduction for FY 2025-26. This form can help salaried individuals to prevent excess TDS deductions and ensure that they don't need to go through the process of claiming a tax refund later. Also Form 15E has also been enabled for filing by Indian residents who want to make payments to non-residents at a lower TDS rate. According to an alert flash on the TRACES portal of the tax department, the functionality to file both these forms (Form 13 and 15E) have been enabled for the upcoming FY 2025-26. However, for the current FY 2024-25 these forms will be made available till March 15, 2025. This means if you want to apply for a lower TDS deduction certificate by filing Form 13 or 15E for FY 2024-25 then hurry up as only two weeks are left. Read below to know how exactly you should file Form 13 or Form 15E so that everything is proper and the chance of its acceptance is higher.

Anand Mahindra, Chairman of the Mahindra & Mahindra Group, has urged that certain distinctive rock formations in Odisha be developed into a world-renowned tourist destination. On Thursday, the business magnate responded to a post on X (formerly Twitter) that compared these geological structures to the Grand Canyon, one of Arizona’s most famous natural landmarks. However, Mahindra expressed that the breathtaking formations in Odisha required no such comparison to be recognized for their beauty. «No need to compare it to the Grand Canyon. This is unique in its own way. Not sure if these pics are photoshopped, but even if they are to an extent, these formations are… the business tycoon wrote. He also appealed to the Odisha Tourism Department to make this scenic locale a global hot spot.