Indian Railway

Cabinet approves setting up of rail regulatory body

New Delhi: Union Cabinet today approved setting up of an independent Rail Development Authority (RDA) - Regulatory Mechanism in New Delhi. The RDA will have broad function of tariff determination, ensuring fair play and level playing field for all stakeholders investments.

It will also work for the setting efficiency and performance standards and dissemination of information. The initial corpus of the Authority will be fifty crore rupees. The RDA will have a chairman and three members besides experts from relevant areas.

GST

GST Bills to be discussed in Rajya Sabha today

New Delhi: Both the houses of Parliament will assemble on Wednesday after the break of four days and in Rajya Sabha, the Goods and Services Tax Bills will be taken up for discussion.

The four Bills related to Central GST, Integrated GST, GST Compensation and Union Territory GST were passed by the LokSabha last week.

Rupee Faces A Fall After Months Of High

Rupee faces a fall after months of high

New Delhi: Retreating from multi-month high, the rupee on Monday plunged by 18 paise to close at 65.03 against the US currency on fresh dollar demand from importers and banks.

Buoyant dollar overseas predominantly impacted trading sentiment, though robust capital flows into equities and debt largely cushioned the fall.

This is the biggest one-day fall against the greenback in nearly two months.

Infosys

Infosys Shares Falls after the Rift between the Founders and Board of the company

New Delhi: Some bad news for Infosys as shares of the company fell by over 1.00 % today. The fall is seen as a result of the fresh row erupted between the founders and the Board of the company over the pay hike to Chief Operating Officer U. B. Pravin Rao.

On Sunday, Infosys informed the exchanges that its shareholders had ratified a move to grant a massive pay hike to Chief Operating Officer UB Pravin Rao.

Rao will now earn Rs 12.5 crore a year, an increase of 35 percent over his 2016 pay. He had received a 53 percent increase the previous year.

New Currency

Security features of currency notes to change every three years

New Delhi: The government plans to change security features of higher denomination banknotes of 2,000 and 500 rupees every 3-4 years to check counterfeiting. The move comes in the wake of recovery of a large amount of fake Indian currency notes in last four months after demonetisation.

The issue was discussed threadbare at a high-level meeting on last week attended by senior officials of the ministries of Finance and Home, including Union Home Secretary Rajiv Mehrishi. Advocating the move, Home Ministry officials said, most of the developed countries change security features of their currency notes every 3-4 years and therefore, it is absolutely necessary for India to follow this policy.