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The government has appointed Economic Affairs Secretary <keyword id="947916" type="PERSON" weightage="20" keywordseo="Tarun-Bajaj">Tarun Bajaj</keyword> as a director on the <keyword id="4101192" type="COMPANY" weightage="20" keywordseo="central-board-of-reserve-bank-of-india">central board of Reserve Bank of India</keyword> (RBI). <keyword id="6358511" type="DOMAIN" weightage="20" keywordseo="Bajaj">Bajaj</keyword> replaces Atanu Chakraborty, who retired on April 30. "The Central Government has nominated Tarun Bajaj, Secretary, Department of Economic Affairs, Ministry of Finance, Government of India as a Director on the Central Board of Reserve Bank of India vice Atanu Chakraborty," RBI said in a statement on Wednesday. The nomination of Bajaj is effective from May 5 and until further orders, it said. Prior to taking over as Economic Affairs Secretary, Bajaj, a 1988 batch IAS officer, was the Additional Secretary in Prime Minister's Office. Before joining the Prime Minister's Office in 2015, Bajaj was Joint Secretary in Economic Affairs Department, looking after multilateral funding agencies division. He worked as Joint Secretary and Director in the <keyword id="175408" type="COMPANY" weightage="20" keywordseo="department-of-financial-services">Department of Financial Services</keyword>. As a Joint Secretary in the Department of Financial Services for four years, he was looking after the insurance division. DP DRRDRR

Central Government appoints Tarun Bajaj as Director on RBI Central Board

The Union <keyword id="6355513" type="General" weightage="20" keywordseo="cabinet" source="Orion">Cabinet</keyword> on Wednesday approved a four per cent increase in <keyword id="6429991" type="General" weightage="50" keywordseo="dearness-allowance" source="Orion">Dearness Allowance</keyword> (DA) for Central government employees and Dearness Relief for pensioners. Briefing reporters about the decisions of the union cabinet, Information and Broadcasting Minister <keyword id="6364468" type="General" weightage="50" keywordseo="anurag-thakur" source="Orion">Anurag Thakur</keyword> said the decision will be implemented from July 1 this year. "Dearness Allowance for Central government employees and Dearness Relief for pensioners has been increased by 4%. The <keyword id="663200" type="General" weightage="60" keywordseo="DA-hike" source="Orion">DA hike</keyword> will be implemented from 1, July 2023," he said. The decision will benefit 48.67 lakh Central Government Employees and 67.95 lakh pensioners. The minister said the decision has come in the festival season and will benefit both the central government employees and pensioners. Generous bonus for railway employees The Cabinet has also granted approval for a Productivity Linked Bonus (PLB) that amounts to 78 days wages for eligible non-gazetted Railway employees. This bonus is for the financial year 2022-23 and will benefit a wide array of railway staff, including Track maintainers, Loco Pilots, Train Managers (Guards), Station Masters, Supervisors, Technicians, Technician Helpers, Points man, Ministerial Staff, and other Group 'C' staff, excluding Railway Protection Force (RPF)/ Railway Protection Special Force (RPSF) personnel, read the press release issued by Cabinet. This move comes in recognition of the outstanding performance of the railway employees throughout the financial year 2022-23. The Union Government has sanctioned a PLB totalling Rs 1,968.87 crores, which will be disbursed to approximately 1,107,346 railway employees, read the press release. (This copy will be updated)

Dearness allowance of central government employees hiked by 4%

<ul><li>Business Insider India has curated a list of government job openings across the country.</li><li>The Ministry of External Affairs has invited job applications for the post of Passport Officer.</li><li>Check out the latest updates and news on <a href="https://www.businessinsider.in/">Business Insider India</a>.</li></ul>India's overall unemployment rate decelerated in January to 6.5%, after a sharp jump of 9% in December. With the economy getting back to normal, hundreds of people are now looking for jobs in both government and private sectors. Nearly 12 million additional people were employed during January at 400.7 million as compared to 388.8 million in December 2020, according to the Centre for Monitoring Indian Economy data. Business Insider India has curated a list of some of the top government job openings at Foreign Ministry, IT Ministry, Defence Ministry, and the SC. Passport officer at the Ministry of External Affairs The Ministry of External Affairs has invited job applications for the post of Passport Officer. Here are the details: No of Posts: 3 Salary: ₹78,800 - ₹209,200 (per month) Experience: 1- 15 years Education: Any Bachelor's Degree Location: Ghaziabad, Chennai, Bangalore Application deadline: February 28 Apply <a href="https://www.mea.gov.in/Images/amb1/Vacancy-of-PO-DPO-31-12-2020.pdf">here</a>. Deputy Passport officer at the Ministry of External Affairs The Ministry of External Affairs has also invited job applications for the post of Deputy Passport Officer. Here are the details: No of Posts:13 Salary: ₹67,700 - ₹208,700 (per month) Experience: 7 - 15 years Education: Any Bachelor's Degree Location: Across India Application deadline: February 28 Apply <a href="https://www.mea.gov.in/Images/amb1/Vacancy-of-PO-DPO-31-12-2020.pdf">here</a>. Consultant at the Ministry of Electronics &amp; Information Technology The Ministry of Electronics &amp; Information Technology has invited job applications for the post of Consultant. Here are the details: No of Posts:12 Salary: Not Disclosed Experience: 7 - 15 years Education: Any Bachelor's Degree Location: Across India Application deadline: February 28 Apply <a href="https://www.meity.gov.in/writereaddata/files/Engagement-of-Consultants.pdf">here</a>. Translator for various regional languages at Supreme Court of India The Supreme Court of India is inviting online applications from candidates for translators' post for various regional languages. Here are the details: No of Posts: 30 Education: Any Graduate Location: Across India Education: Graduate Deadline: March 13 Apply <a href="https://jobapply.in/Sc2020Translator/">here</a>. Young Professional at Government of Meghalaya The Government of Meghalaya is inviting online applications from candidates for the post of Young Professional. Here are the details: No of Posts:1 Salary: ₹40,000 (per month) Experience:3 - 7 years Education: Any Masters Degree, PG Diploma Location: Shilong Deadline: March 1 Apply <a href="https://meghalaya.gov.in/sites/default/files/announcement/Combined_JDs.pdf">here</a>. Lower Division Clerk, MTS and Other Posts at Ministry of Defence The Ministry of Defence is inviting online applications from candidates for the post of Lower Division Clerk, MTS and several other roles. Here are the details: No of Posts:39 Salary: ₹29200- ₹92300 (per month) Experience:3 - 7 years Education: Any Masters Degree, PG Diploma Deadline: February 24 Apply <a href="https://www.recruitment.guru/ministry-of-defence-recruitment/amp/?utm_campaign=google_jobs_apply&amp;utm_source=google_jobs_apply&amp;utm_medium=organic">here</a>. SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/jaguar-land-rover-plans-to-go-fully-electric-by-2039-and-said-it-would-spend-3-5-billion-on-the-goal-each-year/articleshow/80925836.cms">Jaguar Land Rover plans to go fully electric by 2039, and said it would spend $3.5 billion on the goal each year</a> <a href="https://www.businessinsider.in/defense/news/list-of-10-latest-defence-deals-that-india-has-signed-in-the-last-six-months/slidelist/80926534.cms">List of 10 latest defence deals that India has signed in the last six months</a>

Here's a list of government and PSU jobs that you can apply for, at Foreign Ministry, IT Ministry, Defence Ministry, and the Supreme Court

New Delhi, Mar 13 () The Union Cabinet on Friday approved 4 per cent hike in dearness allowance (DA) to 21 per cent for central government employees, costing the exchequer an additional Rs 14,595 crore.Briefing the media I&amp;B Minister Prakash Javadekar said the Cabinet had approved 4 per cent hike in DA to 21 pc for 48 lakh govt employees, 65 lakh pensioners.He further said the government will incur Rs 14,595 crore additional expense on account of this hike. NKD BKS MJH MKJ

Cabinet clears 4 pc DA hike for central government employees

<ul><li>The Reserve Bank of India is transferring ₹500 billion to the <keyword id="6357307" type="UNKNOWN" weightage="20" keywordseo="Central-Government">central government</keyword>’s coffers for the year ended June 30th, 2018. </li><li>This marks a 63% increase over the amount it transferred to the government last year. </li><li>With oil prices rising, the rupee depreciating, a shortfall in taxes and some divestments not going as planned, the government’s finances have been strained.</li></ul>On August 8th, the Reserve Bank of India (<keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword>) <a href="https://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/PR35374307F03E12A4816911A5CAB4BE22542.PDF">announced</a> that it was transferring ₹500 billion to the central government’s coffers, in addition to the₹100 billion it paid in March this year. The amount marks a 63% increase over the ₹307 billion <keyword id="56600" type="PERSON" weightage="20" keywordseo="Dividend">dividend</keyword> the central bank paid the Indian government last year. The RBI had to trim the dividend in 2017 due to the high costs it faced in printing new notes in the wake of demonetisation. The handout will go a long way towards helping the government meet its <keyword id="6365485" type="DEFINITION" weightage="20" keywordseo="Fiscal-Deficit">fiscal deficit</keyword> target of 3.3% of the GDP. With oil prices rising, the rupee depreciating, a shortfall in taxes, some divestments <a href="https://www.businessinsider.in/after-a-botched-sale-the-indian-government-might-just-bail-air-india-out-again/articleshow/65323903.cms">not going as planned</a> and the bad loan crisis getting worse, the government’s finances have been strained. In November last year, it had asked the RBI for <a href="https://timesofindia.indiatimes.com/business/india-business/government-seeks-rs-13000-crore-surplus-from-rbi/articleshow/61711277.cms">a ₹130 billion lifeline</a> to supplement its bank recapitalisation plans, which was subsequently rejected by the central bank because it needed to allocate the amount to its reserves. In its Union <keyword id="6358021" type="ORGANIZATION" weightage="20" keywordseo="budget">Budget</keyword> for 2017-18, the finance ministry had earmarked a contribution of ₹580 billion from the RBI to meet its spending obligations. Transfer of discretionary amount The RBI mainly earns its revenue through the interest on bond-holdings and the sale of government securities. As stipulated in Reserve Bank of India Act, it is required to transfer its profits to the government every year after replenishing its fund reserves and accounting for bad debts. However, the amount that it is supposed to transfer isn’t specified. The deployment of its profits towards other channels of government spending, such as the infusion into state-run banks, might not be the most efficient allocation of assets. However, the government will need to stick to its plan to pump <a href="https://www.business-standard.com/article/economy-policy/cabinet-approves-rs-2-11-lakh-cr-public-sector-banks-capitalisation-plan-117102400708_1.html">₹180 billion</a> into the country’s public-sector banks by 2019. Separately, the RBI is said to be mulling a government proposal wherein it will have to pay a fixed portion of its annual profit to the government every year. The policy proposal, which is expected to be discussed in the Parliament’s winter session, will help avoid any confusion or conflict related to the amount that the RBI transfers to the government every year.

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Central Government appoints Tarun Bajaj as Director on RBI Central Board

PTI

Dearness allowance of central government employees hiked by 4%

ANI

Here's a list of government and PSU jobs that you can apply for, at Foreign Ministry, IT Ministry, Defence Ministry, and the Supreme Court

BI India Bureau

Cabinet clears 4 pc DA hike for central government employees

PTI

A big handout from the RBI could help the Indian government meet its fiscal deficit target

Dilsher Dhillon

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