Tata Consultancy Services (TCS), India’s largest information technology firm by revenues, has given its chief executive and managing director N Chandrasekaran a 60% pay hike in FY14. His compensation, including salary, commission, and other benefits, perquisites and allowances, stood at Rs 18.68 crore, according to disclosures made in the firm’s 2013-14 annual report, published on its website on Tuesday.

Finance minister Arun Jaitley may give the Rs 2,51,000 crore worth domestic gems and jewellery industry, gold importers, and consumers some reason to cheer about. The ministry is likely to reduce the gold import duty by 2-4% from 15% now. This may form a part of the Budget announcement of finance minister Arun Jaitley.

Even though, Tamil Nadu chief minister J Jayalalithaa on Tuesday didn't commit to helping the Narendra Modi-led NDA government for the smooth transaction of business in the Parliament, the government is pinning hopes on her, on Biju Janata Dal (BJD) chief Naveen Patnaik and on Trinamool Congress' (TMC) fiesty leader Mamata Banerjee.

The Reserve Bank of India (RBI) has given banks a breather for additional provisioning for the unhedged foreign currency exposure of their clients in the quarter ending June. Now, banks can spread provisioning for the June quarter equally through this financial year.

The Directorate General of Civil Aviation (DGCA) is easing norms for renewal of licences for commercial pilots, flying training academies and airports.

A senior official at DGCA said: “Airlines in their representations to the DGCA have suggested certain amendments to the Civil Aviation Requirements (CAR) and in the oversight mechanism. We are working towards relaxing norms for renewal of licences for commercial pilots, flying training academies as well as airports. The licensing norms are being eased keeping global parameters in consideration and without compromising on safety.”

In a bid to ensure transparency, National Highway Authority of India (NHAI) will put all information related to private public partnership (PPP) projects taken up by them in the public domain.

"NHAI proposes to place all information relating to projects taken up by them under PPP mode in the public domain to be available on a link -- www.Nhai.Org.In. Specific project details can be obtained by typing the name of the particular stretch or project implementation unit along with this link," according to an official statement.

Often, you hear of a scion taking his/her family to court over internal family disputes. But can you imagine a leading public sector organisation taking its major stakeholder, the central government, to court?

Unprecedented perhaps, but this is what Oil and Natural Gas Corporation (ONGC) has done; it has dragged the Centre to the Delhi High Court. The kernel of ONGC's complaint is the alleged theft of 18 billion cubic metres of natural gas since 2009 by Reliance Industries Ltd (RIL) from adjacent ONGC blocks in the Krishna-Godavari basin.

State-run Bharat Petroleum Corporation (BPCL) is planning to open an office in Singapore to expand its global reach and participate in crude oil trading.

The Singapore office, two senior company executives said, would also help the company trade in energy derivatives, international financing and other joint ventures that the company may plan in the future.

Days after Finance Minister Arun Jaitley asked his officials to come up with reform ideas, the ministry is said to be considering a unified law for all financial-sector regulators, including the Reserve Bank of India (RBI), for better regulation. This might function on the lines of the Indian Penal Code, which covers aspects of all states' criminal laws, even as the states have individual control over the police.

New Delhi, June 2: The Centre today approved a six-month extension for cabinet secretary Ajit Kumar Seth, less than a fortnight before the government’s top bureaucrat was to retire, apparently to ensure continuity and help the new regime settle down.

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