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IndiaTV Business: Google News Feed: Digest for August 26, 2024

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To further enhance road connectivity in the state, the Maharashtra government has proposed the construction of a new expressway, the Konkan Expressway, to connect Mumbai and Goa. The state government said that the Maharashtra State Road Development Corporation (MSRDC) will oversee the development of this 376-km-long, 6-lane access-controlled expressway. This new expressway will run along the scenic Konkan coast, with preparation work for the Detailed Project Report (DPR) already underway.
In a significant development, the Income Tax Department has reported that a staggering 7.28 crore income tax returns (ITR) were filed by the deadline of July 31, 2024. Notably, around 5 crore of these returns were filed by July 26, 2024, which shows a surge in the last few days before the deadline. This surge led to an additional 2.28 crore ITRs being filed between July 27 and July 31, 2024.
Food delivery platform Zomato on Thursday announced the discontinuation of its intercity food delivery service 'Legends.' The service, which allowed users to order iconic dishes from 10 cities across the country, was initially suspended in April this year and relaunched in July with a revised model focused on delivering pre-stocked items from other cities with a shorter delivery timeline. Following the shutdown, Zomato will continue to operate its food delivery service only within cities. 
Attention bank customers! Banks will remain shut in a few states for three consecutive days from Saturday, August 24. Some states will also observe a bank holiday on Monday in observance of Krishna Janmashtami. In the wake of these developments, if you are planning to visit banks for any of your banking activities, you must make your planning accordingly.
7th Pay Commission Latest News: Here comes a big update for the Central government employees who are waiting for a hike in dearness allowance (DA). Various media reports suggest that the Centre is expected to announce a second increase in Dearness Allowance (DA) and Dearness Relief (DR) for employees and pensioners in September 2024. Once implemented, the new DA hike will be effective from July 2024.
Business news: India's forex reserves jumped by USD 4.546 billion to USD 674.664 billion during the week ended August 16, the Reserve Bank of India (RBI) said today (August 23). In the previous week, the forex kitty had dropped by USD 4.8 billion to USD 670.119 billion. On August 2, the overall reserves hit an all-time high of USD 674.919 billion.
IT major Cognizant's subsidiary TriZetto has filed a lawsuit against Infosys in a US federal court, accusing it of stealing trade secrets and information related to healthcare insurance software.  In a lawsuit filed in Texas Federal Court, Cognizant has accused the Bengaluru-headquartered company of illegally accessing data from TriZetto's software -- Facets and QNXT -- and using the same to develop and market a competing product.
Unified Pension Scheme: In a significant decision impacting lakhs of employees, the Bharatiya Janata Party (BJP)-led central government today (August 24) approved the Unified Pension Scheme (UPS) which provides for Assured Pension and Assured Family Pension.
UPS vs NPS vs OPS:  For a long time, government employees have been demanding either amendment to the New Pension Scheme (NPS) or the reinstatement of the Old Pension Scheme (OPS). The opposition was also using this issue to garner support. In response, the Modi government has now taken decisive action. On Saturday, the Union Cabinet, led by Prime Minister Modi, approved a new pension scheme called the Unified Pension Scheme (UPS). Under this scheme, 50 per cent of the average basic pay is drawn over the last 12 months prior to superannuation for a minimum qualifying service of 25 years. Additionally, the scheme offers various other benefits, such as assured pension, assured family pension, assured minimum pension, inflation-linked indexation, and extra payment in addition to gratuity. Let's explore the differences between the Unified Pension Scheme (UPS), the New Pension Scheme (NPS), and the Old Pension Scheme (OPS).
According to data with the depositories, Foreign Portfolio Investors (FPIs) injected Rs 11,366 crore in the debt market this month (till August 24). The foreign investors infused Rs 11,366 crore in the Indian debt market so far in August, pushing the net inflow count in the debt segment to over the Rs 1-lakh-crore mark.
To further enhance road connectivity in the state, the Maharashtra government has proposed the construction of a new expressway, the Konkan Expressway, to connect Mumbai and Goa. The state government said that the Maharashtra State Road Development Corporation (MSRDC) will oversee the development of this 376-km-long, 6-lane access-controlled expressway. This new expressway will run along the scenic Konkan coast, with preparation work for the Detailed Project Report (DPR) already underway.
In a significant development, the Income Tax Department has reported that a staggering 7.28 crore income tax returns (ITR) were filed by the deadline of July 31, 2024. Notably, around 5 crore of these returns were filed by July 26, 2024, which shows a surge in the last few days before the deadline. This surge led to an additional 2.28 crore ITRs being filed between July 27 and July 31, 2024.
Food delivery platform Zomato on Thursday announced the discontinuation of its intercity food delivery service 'Legends.' The service, which allowed users to order iconic dishes from 10 cities across the country, was initially suspended in April this year and relaunched in July with a revised model focused on delivering pre-stocked items from other cities with a shorter delivery timeline. Following the shutdown, Zomato will continue to operate its food delivery service only within cities. 
Attention bank customers! Banks will remain shut in a few states for three consecutive days from Saturday, August 24. Some states will also observe a bank holiday on Monday in observance of Krishna Janmashtami. In the wake of these developments, if you are planning to visit banks for any of your banking activities, you must make your planning accordingly.
7th Pay Commission Latest News: Here comes a big update for the Central government employees who are waiting for a hike in dearness allowance (DA). Various media reports suggest that the Centre is expected to announce a second increase in Dearness Allowance (DA) and Dearness Relief (DR) for employees and pensioners in September 2024. Once implemented, the new DA hike will be effective from July 2024.
Business news: India's forex reserves jumped by USD 4.546 billion to USD 674.664 billion during the week ended August 16, the Reserve Bank of India (RBI) said today (August 23). In the previous week, the forex kitty had dropped by USD 4.8 billion to USD 670.119 billion. On August 2, the overall reserves hit an all-time high of USD 674.919 billion.
IT major Cognizant's subsidiary TriZetto has filed a lawsuit against Infosys in a US federal court, accusing it of stealing trade secrets and information related to healthcare insurance software.  In a lawsuit filed in Texas Federal Court, Cognizant has accused the Bengaluru-headquartered company of illegally accessing data from TriZetto's software -- Facets and QNXT -- and using the same to develop and market a competing product.
Unified Pension Scheme: In a significant decision impacting lakhs of employees, the Bharatiya Janata Party (BJP)-led central government today (August 24) approved the Unified Pension Scheme (UPS) which provides for Assured Pension and Assured Family Pension.
UPS vs NPS vs OPS:  For a long time, government employees have been demanding either amendment to the New Pension Scheme (NPS) or the reinstatement of the Old Pension Scheme (OPS). The opposition was also using this issue to garner support. In response, the Modi government has now taken decisive action. On Saturday, the Union Cabinet, led by Prime Minister Modi, approved a new pension scheme called the Unified Pension Scheme (UPS). Under this scheme, 50 per cent of the average basic pay is drawn over the last 12 months prior to superannuation for a minimum qualifying service of 25 years. Additionally, the scheme offers various other benefits, such as assured pension, assured family pension, assured minimum pension, inflation-linked indexation, and extra payment in addition to gratuity. Let's explore the differences between the Unified Pension Scheme (UPS), the New Pension Scheme (NPS), and the Old Pension Scheme (OPS).
According to data with the depositories, Foreign Portfolio Investors (FPIs) injected Rs 11,366 crore in the debt market this month (till August 24). The foreign investors infused Rs 11,366 crore in the Indian debt market so far in August, pushing the net inflow count in the debt segment to over the Rs 1-lakh-crore mark.
To further enhance road connectivity in the state, the Maharashtra government has proposed the construction of a new expressway, the Konkan Expressway, to connect Mumbai and Goa. The state government said that the Maharashtra State Road Development Corporation (MSRDC) will oversee the development of this 376-km-long, 6-lane access-controlled expressway. This new expressway will run along the scenic Konkan coast, with preparation work for the Detailed Project Report (DPR) already underway.
In a significant development, the Income Tax Department has reported that a staggering 7.28 crore income tax returns (ITR) were filed by the deadline of July 31, 2024. Notably, around 5 crore of these returns were filed by July 26, 2024, which shows a surge in the last few days before the deadline. This surge led to an additional 2.28 crore ITRs being filed between July 27 and July 31, 2024.
Food delivery platform Zomato on Thursday announced the discontinuation of its intercity food delivery service 'Legends.' The service, which allowed users to order iconic dishes from 10 cities across the country, was initially suspended in April this year and relaunched in July with a revised model focused on delivering pre-stocked items from other cities with a shorter delivery timeline. Following the shutdown, Zomato will continue to operate its food delivery service only within cities. 
Attention bank customers! Banks will remain shut in a few states for three consecutive days from Saturday, August 24. Some states will also observe a bank holiday on Monday in observance of Krishna Janmashtami. In the wake of these developments, if you are planning to visit banks for any of your banking activities, you must make your planning accordingly.
7th Pay Commission Latest News: Here comes a big update for the Central government employees who are waiting for a hike in dearness allowance (DA). Various media reports suggest that the Centre is expected to announce a second increase in Dearness Allowance (DA) and Dearness Relief (DR) for employees and pensioners in September 2024. Once implemented, the new DA hike will be effective from July 2024.
Business news: India's forex reserves jumped by USD 4.546 billion to USD 674.664 billion during the week ended August 16, the Reserve Bank of India (RBI) said today (August 23). In the previous week, the forex kitty had dropped by USD 4.8 billion to USD 670.119 billion. On August 2, the overall reserves hit an all-time high of USD 674.919 billion.
IT major Cognizant's subsidiary TriZetto has filed a lawsuit against Infosys in a US federal court, accusing it of stealing trade secrets and information related to healthcare insurance software.  In a lawsuit filed in Texas Federal Court, Cognizant has accused the Bengaluru-headquartered company of illegally accessing data from TriZetto's software -- Facets and QNXT -- and using the same to develop and market a competing product.
Unified Pension Scheme: In a significant decision impacting lakhs of employees, the Bharatiya Janata Party (BJP)-led central government today (August 24) approved the Unified Pension Scheme (UPS) which provides for Assured Pension and Assured Family Pension.
UPS vs NPS vs OPS:  For a long time, government employees have been demanding either amendment to the New Pension Scheme (NPS) or the reinstatement of the Old Pension Scheme (OPS). The opposition was also using this issue to garner support. In response, the Modi government has now taken decisive action. On Saturday, the Union Cabinet, led by Prime Minister Modi, approved a new pension scheme called the Unified Pension Scheme (UPS). Under this scheme, 50 per cent of the average basic pay is drawn over the last 12 months prior to superannuation for a minimum qualifying service of 25 years. Additionally, the scheme offers various other benefits, such as assured pension, assured family pension, assured minimum pension, inflation-linked indexation, and extra payment in addition to gratuity. Let's explore the differences between the Unified Pension Scheme (UPS), the New Pension Scheme (NPS), and the Old Pension Scheme (OPS).
According to data with the depositories, Foreign Portfolio Investors (FPIs) injected Rs 11,366 crore in the debt market this month (till August 24). The foreign investors infused Rs 11,366 crore in the Indian debt market so far in August, pushing the net inflow count in the debt segment to over the Rs 1-lakh-crore mark.
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