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EPFO takes various steps for speedy settlement of claims
Mar 20,2017

The Employees Provident Funds Organization (EPFO) has taken various steps for speedy settlement of claims which inter alia include:

n++ Composite Claim Form (Aadhaar) and Composite Claim Form (Non-Aadhaar) has been introduced by replacing the erstwhile Claim Forms No. 19, 10C and 31, with a view to simplify the submission of claims by the subscribers. The Composite Claim Form has been further simplified to include self-certification by EPF subscribers. The Composite Claim Form (Aadhaar) can be submitted to the EPFO without attestation of their employers.

n++ EPFO has mandated to settle claims within 20 days.

n++ Online Transfer Claim Portal (OTCP) has been introduced to facilitate seamless transfer of claims.

n++ An online payment facility has been developed for employers for payment of dues. The internet banking (INB) facility enhances efficiency and payment and ensures anytime, anywhere online access while usage of existing internet bank account to make payments online.

n++ National Electronic Fund Transfer (NEFT) has been introduced for payments.

The Employees Provident Funds & Miscellaneous Provisions (EPF & MP) Act, 1952 is applicable to every establishment employing 20 or more persons which is either a factory engaged in any industry specified in Schedule-I of the Act or an establishment to which the Act has been made applicable by the Central Government by notification in the Official Gazette.

There was a total of 17.14 crore Employees Provident Fund (EPF) accounts as on 31 March 2016. 12.21 lakh accounts were pending for updation. As per consolidated Annual Accounts of EPFO for the year 2015-16, the closing balance in Interest Account as on 31st March, 2016 is Rs. 45,135.25 crore.

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Hong Kong Stocks end at fresh 19-month high
Mar 20,2017

The Hong Kong stock market closed session at fresh 19-month high on Monday, 20 March 2017, building on last weeks rally after the Federal Reserve flagged a slower pace of interest rate rises this year and as Chinese investors pumped in more funds into the local market on optimism over earnings and dividend payouts. The gains were led by energy and tech shares, but an index tracking mainland properties tumbled, after China stepped up real estate curbs in a number of cities, and vowed to restrict lending to the sector. The Hang Seng index rose 0.8 per cent, to 24,501.99, while the China Enterprises Index gained 0.7 per cent, to 10,583.98 points. Turnover decreased slightly to HK$97.8 billion from HK$121.3 billion on Friday.

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China Stocks end up as energy offsets fresh property curbs
Mar 20,2017

The Mainland China equity market ended higher after recouping losses late afternoon on Monday, 20 March 2017, as strong gains in energy stocks offset weakness in developers following fresh measures to cool the property market. The blue-chip CSI300 index rose 0.1 percent, to 3,449.61 points, while the benchmark Shanghai Composite Index gained 0.41 per cent, or 13.36 points, to 3,250.81. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, climbed 0.31 per cent, or 6.32 points, to 2,036.05.

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Japan Market close for Vernal Equinox Day holiday
Mar 20,2017

Japan Markets, banks, businesses and government offices closed on Monday, 17 March 2017, for Vernal Equinox Day holiday.

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Australia Shares slips as financials, energy drag on index
Mar 20,2017

Australian equity market finished session down on Monday, 20 March 2017, due to an uninspired lead from US markets on Friday and worries over global trade protectionism after financial leaders of the worlds biggest economies dropped a pledge to keep global trade free and open. ASX Sectors were mostly down, with financials, real estate, and energy stocks leading the losses. At the close, the benchmark S&P/ASX 200 index surrendered 20.7 points, or 0.36%, to 5,778.9, while the broader All Ordinaries index backtracked 20.3 points, or 0.35%, to 5,820.5. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 631 to 453 and 359 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 5.43% to 10.274.

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Andhra Bank to receive capital infusion of Rs 1100 crore
Mar 20,2017

Andhra Bank announced that the Bank has received a communication from Government of India vide its letter dated 16 March 2017 informing, that Andhra Bank has been identified for capital allocation for the Financial Year 2017 as a part of turnaround linked infusion plan. The indicative allocation of capital is Rs.1100 crore to the Bank. The matter will be put up to Andhra Banks Board of Directors for consideration.

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Dhampur Sugar Mills gets revision in credit ratings
Mar 20,2017

Dhampur Sugar Mills announced that CARE has upgraded and revised the Credit Rating from Care BBB; Positive (Triple B;) with Positive outlook to Care BBB+ (Triple B Plus) with Stable Outlook for Long Term/Short Term Credit Facilities from banks and Fixed Deposits accepted by the Company respectively.

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Viaan Industries launches its first Direct Selling Venture - Best Naturals
Mar 20,2017

Viaan Industries has launched its Direct Selling Venture - Best Naturals. Best Naturals, has tried and tested 6 SKUs and many more are in the pipeline. They are in the process of testing various products under the wellness and beauty segment with a USP of Make in India.

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Kothari Products announces cessation of subsidiary
Mar 20,2017

Kothari Products announced the cessation of its subsidiary, Riverview Land Developers.

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Four Sectoral Computer Emergency Response Teams to mitigate Cyber Security Threats in Power Systems
Mar 20,2017

Government of India, in line with National Cyber Security Policy 2013, has created sectoral Computer Emergency Response Teams (CERTs) to mitigate cyber security threats in power systems.

Government of India through Ministry of Electronics & Information Technology(MeitY) and National Critical Information Infrastructure Protection Centre (NCIIPC) has taken several steps to make power utilities and key stakeholders aware to take precautions against cyber threats.

For cyber security in power systems, four Sectoral CERTs, CERT (Transmission), CERT (Thermal), CERT (Hydro) and CERT (Distribution) have also been formed to coordinate with power utilities. The relevant stakeholders of Smart Grid have been advised to identify critical infrastructure and use end to end encryption for data security.

All utilities have been asked to identify a nodal senior executive as its Chief Information Security Officer (CISO) to lead the process of strengthening organizational systems with respect to cyber security and implement an Information Security Management System as recommended by rules framed under the Information Technology (IT) Act 2008.

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White Organic Agro to hold board meeting
Mar 20,2017

White Organic Agro will hold a meeting of the Board of Directors of the Company on 23 March 2017, to consider, review and discuss the future progress of the business and expansion plans of the Company.

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Gallantt Ispat to hold board meeting
Mar 20,2017

Gallantt Ispat will hold a meeting of the Board of Directors of the Company on 23 March 2017 Scheme of Arrangement for Amalgamation

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HDFC Bank to hold board meeting
Mar 20,2017

HDFC Bank will hold a meeting of the Board of Directors of the Company on 21 April 2017, to inter-alia consider the audited financial results for the quarter and year ending 31st March, 2017 along with the consolidated accounts for the year ending 31st March, 2017 and recommendation of dividend, if any.

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Neelkanth Rockminerals to hold board meeting
Mar 20,2017

Neelkanth Rockminerals will hold a meeting of the Board of Directors of the Company on 27 March 2017.

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Board of Global Education recommends dividend
Mar 20,2017

Global Education announced that the Board of Directors of the Company at its meeting held on 16 March 2017, inter alia, have recommended the dividend of Rs 1.5 per equity Share (i.e. 15%) , subject to the approval of the shareholders.

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