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11.38 lakh jobs created in March in formal sector, shows ESIC data
Photo for representation only. — iStock.

11.38 lakh jobs created in March in formal sector, shows ESIC data

24 May 2019 | 6:56 PM

NEW DELHI: Gross employment generation in the formal sector rose to 11.38 lakh in March from 11.02 lakh in February, according to official data.

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New Delhi, May 24

Gross employment generation in the formal sector rose to 11.38 lakh in March from 11.02 lakh in February, according to official data.

 As per ESIC’s latest payroll data, around 1.48 crore jobs were generated in 2018-19 financial year.      

The Employees’ State Insurance Corporation (ESIC) did not provide gross new enrolments for March 2018.

Total gross new enrolments were at 88.30 lakh during the seven-month period from September 2017 to March 2018. ESIC has been releasing payroll data from April 2018, covering the period starting from September 2017.

The Central Statistics Office on Friday released payroll or new enrolment data of ESIC, retirement fund body EPFO and Pension Fund Regulatory and Development Authority together.

The CSO is releasing the data of these three bodies since April 2018 covering the period from September 2017.

The Employees’ Provident Fund Organisation (EPFO) payroll data showed that net enrolments rose to 8.14 lakh in March against 7.88 lakh in February this year.

Around 67.59 lakh new subscribers joined social security schemes run by EPFO during entire 2018-19. Total net new enrolments were at 15.52 lakh during the seven-month period to March 2018.

The retirement fund body has also been releasing payroll data from April 2018, covering the period from September 2017.

EPFO in its payroll data did not provide monthly net new enrolments for March 2018.

The CSO said the report released Friday gives different perspectives on the levels of employment in the formal sector and does not measure employment at a holistic level. — PTI

Sensex rallies over 400 points after Modi’s resounding victory

Sensex rallies over 400 points after Modi’s resounding victory

24 May 2019 | 1:42 PM

MUMBAI: The benchmark BSE Sensex rallied over 400 points in early trade on Friday a day after Prime Minister Narendra Modi-led BJP got an absolute majority in the Lok Sabha elections.

Gold prices slide by 0.24 per cent in futures trade on weak cues

Gold prices slide by 0.24 per cent in futures trade on weak cues

24 May 2019 | 1:42 PM

NEW DELHI: Gold prices dipped by 0.24 per cent to Rs 31,590 per 10 gram in futures trade on Friday as speculators reduced exposure.

After climbing Mt 40K, Sensex loses steam, down 299 points

After climbing Mt 40K, Sensex loses steam, down 299 points

24 May 2019 | 9:03 AM

MUMBAI:The BSE Sensex surged over 1,000 points today to touch the 40,000-mark for the first time ever following the BJP’s thumping electoral show, but could not sustain the euphoria as investors chose to cash in on the gains. In a similar movement, the broader NSE Nifty crossed the historic 12,000-level after early trends gave the BJP a comfortable majority in the Lok Sabha, but succumbed to profit booking towards the fag-end of the session.

Rupee rises 21 paise against US dollar in early trade

Rupee rises 21 paise against US dollar in early trade

24 May 2019 | 11:36 AM

MUMBAI: The rupee appreciated by 21 paise to 69.81 against the US dollar in the opening trade on Friday following the BJP's thumping victory in the Lok Sabha election.

India Inc hails ‘NaMo again’

India Inc hails ‘NaMo again’

24 May 2019 | 1:59 PM

NEW DELHI:India Inc today said BJP-led NDA’s stupendous performance in Lok Sabha polls is an endorsement of PM Narendra Modi’s decisive leadership, asserting that NDA 2.0 must unleash bold initiatives to transform the economy.

RCap to exit MF business

24 May 2019 | 8:54 AM

NEW DELHI:Reliance Capital (RCap) today said it will exit the mutual funds business by selling its stake in Reliance Nippon Life Asset Management Ltd (RNAM) to its joint venture partner Japan’s Nippon Life Insurance.

Market likely to see more retail investors from North

Market likely to see more retail investors from North

24 May 2019 | 8:54 AM

CHANDIGARH:As the stock market surged to a record high in the early trade today, the region-based brokers and retail investors were in a celebratory mode.

India proposes electrifying motorbikes, scooters in 6-8 years: Source

23 May 2019 | 12:09 PM

NEW DELHI:The Indian government's leading think-tank has proposed electrifying most motorbikes and scooters within the next six to eight years to curb pollution and reduce dependency on fossil fuels, a source with direct knowledge of the matter said.

Honda recalls 1,37,000 SUVs for sudden air bag deployments

Honda recalls 1,37,000 SUVs for sudden air bag deployments

23 May 2019 | 11:59 AM

WASHINGTON: Honda Motor Co said on Wednesday it is recalling 137,000 new sport utility vehicles (SUVs) following reports of three injuries tied to sudden air bag deployments in the United States.

Investor wealth zooms Rs 2.87 lakh cr as market hits record high

Investor wealth zooms Rs 2.87 lakh cr as market hits record high

23 May 2019 | 12:15 PM

NEW DELHI: Investor wealth zoomed Rs 2.87 lakh crore in morning trade on Thursday led by a rally in the equity market where the BSE benchmark Sensex hit 40,000-mark for the first time ever.

Markets lose steam after Modi wave propels indices to record highs

Markets lose steam after Modi wave propels indices to record highs

23 May 2019 | 10:02 PM

The benchmark BSE Sensex rallied nearly 800 points and the NSE Nifty soared over 200 points to hit their respective record highs in early trade on Thursday, as counting of votes for the Lok Sabha election began.

BoB narrows Q4 loss to  Rs 991 crReport Card

BoB narrows Q4 loss to Rs 991 cr

23 May 2019 | 7:02 AM

NEW DELHI: State-owned Bank of Baroda on Wednesday reported narrowing of its net loss to Rs 991 crore in the March 2019 quarter. The bank had posted a net loss of Rs 3,102.34 crore in the similar January-March period of fiscal 2017-18.

For working capital loan, dairy farmers bank on ‘cash cows’

For working capital loan, dairy farmers bank on ‘cash cows’

23 May 2019 | 7:02 AM

CHANDIGARH:To complement the facility of Kisan Credit Cards (KCCs) for dairy farmers, the Haryana Government is planning to insure 10 lakh milch animals and generate animal IDs containing photographs of the animal and its owner.

SpiceJet launches 20 flights

SpiceJet launches 20 flights

23 May 2019 | 7:02 AM

MUMBAI:Budget carrier SpiceJet on Wednesday announced the launch of 20 domestic flights, with 18 of them connecting the financial capital with a host of metro and non-metro cities.

Now, portfolio managers can enter commodity space: SEBI

23 May 2019 | 7:02 AM

NEW DELHI:Markets regulator SEBI on Wednesday allowed portfolio managers to invest in exchange traded commodity derivatives (ETCDs) on behalf of their clients with an aim to deepen the participation in the segment.

British Steel collapses, 25,000 jobs at risk

British Steel collapses, 25,000 jobs at risk

23 May 2019 | 7:02 AM

LONDON:British Steel collapsed on Wednesday after the government said last-ditch talks with its owners failed to secure a financial rescue.

UK chip giant halts ties with Huawei after US ban

23 May 2019 | 7:02 AM

LONDON:British chip designer ARM has halted relations with Huawei in order to comply with a US blockade of the company, potentially crippling the Chinese company’s ability to make new chips for its future smartphones.

Oz leader calls for timeline on Adani mine approvals

23 May 2019 | 7:02 AM

MELBOURNE:The leader of Australia’s Queensland state on Wednesday sought to expedite Adani’s controversy-hit coal mine in the country and asked the Indian energy giant to sit down with the environment regulator to work out a “definitive timeframe” to obtain approvals for the project.

ILFS crisis: ED conducts fresh raids

23 May 2019 | 7:02 AM

NEW DELHI/MUMBAI:The Enforcement Directorate on Wednesday carried out fresh searches in Mumbai in connection with its money-laundering probe in the multi-crore IL&FS payment default crisis, officials said.

Central bank won’t go soft on cash-hit NBFCs

Central bank won’t go soft on cash-hit NBFCs

23 May 2019 | 7:02 AM

NEW DELHI:The RBI is not in favour of providing a special credit window to the NBFC sector to tide over the liquidity crunch as the cash crunch phenomenon is not systemic, said sources.

Sony Mobile to exit India

23 May 2019 | 7:02 AM

NEW DELHI:Facing stiff competition from Chinese and South Korean players, Japanese conglomerate Sony Corporation has announced to quit the Indian smartphone market.

US could blacklist Chinese surveillance tech firm Hikvision: NYT

US could blacklist Chinese surveillance tech firm Hikvision: NYT

22 May 2019 | 12:40 PM

The US administration is considering limits to Chinese video surveillance firm Hikvision’s ability to buy US technology, the New York Times reported on Tuesday, in a move that deepens worries about trade frictions between the world’s two top economies.

Nike, Adidas urge Trump to end trade war

Nike, Adidas urge Trump to end trade war

22 May 2019 | 11:47 AM

WASHINGTON: Some of the world’s biggest footwear firms are urging US President Donald Trump to end the trade war with China, warning of a “catastrophic” effect on consumers.

Sensex rises over 150 points; Nifty tests 11,700

Sensex rises over 150 points; Nifty tests 11,700

22 May 2019 | 9:51 AM

MUMBAI: The benchmark BSE Sensex jumped over 150 points in early trade on Wednesday, led by gains in oil and gas, banking and IT stocks, ahead of the general election results.

RBI to create specialised cadre for regulation of banks, NBFCs

RBI to create specialised cadre for regulation of banks, NBFCs

22 May 2019 | 7:39 AM

CHENNAI:A specialised cadre will be created within the Reserve Bank for supervision and regulation of financial institutions, including banks and NBFCs, the RBI today said.

US relaxes restrictions on Huawei for now

US relaxes restrictions on Huawei for now

22 May 2019 | 7:39 AM

NEW YORK/SHANGHAI:The US has temporarily eased trade restrictions on China’s Huawei to minimise disruption for its customers, a move the founder of the world’s largest telecoms equipment maker said meant little because it was already prepared for US action.

Hinduja Group evaluating bid for Jet Airways, shares rise

Hinduja Group evaluating bid for Jet Airways, shares rise

22 May 2019 | 7:39 AM

BENGALURU/MUMBAI:Hinduja Group today said it is evaluating a possible bid for debt-laden Jet Airways, sending shares of the grounded carrier as high as 14% in afternoon trading.

ArcelorMittal’s bid for Essar Steel: NCLAT reserves order

22 May 2019 | 7:39 AM

NEW DELHI:The National Company Law Appellate Tribunal (NCLAT) today reserved its order over a batch of petitions against ArcelorMittal’s Rs 42,000-crore takeover bid for Essar Steel and the distribution of funds among the creditors of the debt-ridden company.

SEBI to cut time taken for rights issue process

22 May 2019 | 7:39 AM

NEW DELHI:SEBI today proposed reducing the overall time taken for rights issue to around 31 days as well as make the application and allotment process more efficient.

Indices off record highs; Sensex trips 383 pts on profit-booking

Indices off record highs; Sensex trips 383 pts on profit-booking

22 May 2019 | 7:39 AM

MUMBAI:Benchmark indices took a U-turn from record high levels touched during early trade today, with the BSE Sensex tripping nearly 383 points and the NSE Nifty shedding over 119 points as investors hurried up to book profits.

Reliance topples Indian Oil to become biggest Indian firm

22 May 2019 | 7:39 AM

NEW DELHI: Richest Indian Mukesh Ambani’s oil-to-telecom conglomerate Reliance Industries (RIL) has toppled state-owned Indian Oil Corporation (IOC) to become the country’s biggest company by revenue.

Affordable housing still a distant dream in Punjab

Affordable housing still a distant dream in Punjab

22 May 2019 | 7:39 AM

CHANDIGARH:To own a house in Punjab by an urban poor is still a distant dream under the Pradhan Mantri Awas Yojana (PMAY).

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