While unemployment is one issue that the current government has been facing for long with the unemployment rate in India having risen to 7.2 per cent in February 2019 from 5.9 per cent in February 2018, (per data by Centre of Monitoring Indian Economy), a recent report suggests that there has, in fact, been a 16% jump in hiring this February compared to February 2018. The IT software industry has been the champion with it mopping up 38% of growth, a Naukri JobSpeak report said.

Insurance regulator IRDAI Monday said it has sought proposal from Life Insurance Corporation of India (LIC) for paring its shareholding in the recently acquired controlling stake in IDBI Bank.

Insurance Regulatory and Development Authority of India (IRDAI) stipulates that insurers are allowed to hold only up to 15 per cent stake in any listed entity. But LIC, with a special dispensation from IRDAI, holds more than the limit in some state-run banks.

With an aim to bolster its information-gathering mechanism and fast-track its probe, market regulator Sebi has sought direct powers to grant immunity in select cases and to impose lesser penalty if the accused agrees to provide assistance against other wrongdoers.

State-owned Punjab National Bank (PNB) has sanctioned loans worth Rs689 crore to over 1,600 Micro, Small and Medium Enterprises (MSMEs) through the psbloansin59minutes.Com portal as part of its effort to promote such industries.

Under the Mudra Yojana, the bank has offered loan to over 2.69 lakh small entrepreneurs this fiscal (till February 14, 2019).

The decision by the State Bank of India (SBI) to link its short-term loans and savings deposits above Rs one lakh to the repo rate will have a less-than-desired impact on retail borrowers.

Any reduction by the Reserve Bank of India (RBI) in the policy repo rate will have an indirect effect on the interest rates on home and other retail loans — but not to the entire extent.

Equity benchmark Sensex surged over 233 points 36,904 in early trade on Monday, which is seen by experts as a pre-poll rally following the announcement of 2019 general election dates. Similarly, the NSE gauge Nifty rose over 75 points to scale past 11,110 level.

The Insolvency and Bankruptcy Board of India (IBBI) has said that it did not find any contradiction in approvals of resolution for Essar Steel and Binani Cement in the context of “value maximisation”. The Ahmedabad bench of National Company Law Tribunal (NLCT) has approved the ArcelorMittal’s Rs 42,000 crore resolution plan, rejecting the Ruias settlement offer of Rs 54,389 crore.

The rupee appreciated 15 paise to 69.99 against the US dollar Monday on weakening greenback, fresh foreign inflows and higher opening of domestic equities.

In its previous session Friday, the rupee edged 14 paise lower to close at 70.14. On a weekly basis, however, the domestic currency logged 78 paise gains.

The expert committee under the central government that was to look into compensation for patients affected by faulty hip implants of Johnson & Johnson (J&J) has asked a compensation of Rs 74 lakh to be paid to the first patient. Central drug regulator Central Drugs Standard Control Organisation (CDSCO) has directed J&J to pay the compensation amount within 30 days.

The Jammu and Kashmir administration extended the date of depositing the second instalment of arrears of the old tax regime under an amnesty scheme till March end, an official spokesperson said on Saturday.

On a request from various stakeholders, the state administrative council, led by Governor Satya Pal Malik, decided on Friday to extend the date of depositing the second instalment up to March 31, so that the inconvenience faced by the dealers in depositing their instalment is addressed.

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