Bank of India cuts home loan rates

The new rates for home loan will be 10.5% for loans up to Rs30 lakh, 10.75% for over Rs30 lakh but less than Rs75 lakh and 11.25% for those above Rs75 lakh.

Mumbai: Following its larger peers, the state-run Bank of India (BoI) on Friday announced reduction in its home loan rates by up to 0.75% as well as a 0.25% drop in the base rate to 10.5%, reports PTI.

The new rates will be effective 1st May the bank said in a statement. Accordingly, the new rates will be 10.5% for loans up to Rs30 lakh, 10.75% for over Rs30 lakh but less than Rs75 lakh and 11.25% for those above Rs75 lakh.

The rates are floating ones and are linked to the bank's base rate which at present is 10.5%.

Following an unexpected 0.5% cut in the lending rates by the Reserve Bank in its annual monetary policy on 17th April, some leasing banks like SBI, ICICI Bank, and UBI among others have brought down their lending rates or base rates.

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Agri workers may get foodgrains as part of MNREGA wages

According to Agriculture Minister Sharad Pawar, the government is examining a proposal to provide foodgrains as part of wage payments to agriculture workers under

New Delhi: Amid demands for government sharing half the burden of wage payment to labourers engaged in agricultural activities on private land, the Centre on Friday said it is examining a proposal to provide foodgrains as part of wage payments to agriculture workers under the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA).

"This year there is record production of paddy in Andhra Pradesh ... We are examining whether we can provide some foodgrains instead of only rupees ... whether certain payment can be made from MNREGA to agriculture workers," Agriculture Minister Sharad Pawar said in Rajya Sabha.

He was replying to a short notice question by JD Seelam (Congress).

In a recent letter to Rural Development Minister Jairam Ramesh, the Agriculture Ministry had proposed providing foodgrains to workers as part of MNREGA wages.

Agriculture labourers working on private land are receiving part of wages under MNREGA in various states.

Mr Seelam earlier said that farmers were not getting labourers for agriculture activities in Andhra Pradesh, which was facing drought, as they were engaged in MNREGA.

He sought to know whether the labourers engaged in agriculture activities in private land can be paid half of their wages under MNREGA fund to ensure their availability.

Raising the issue of severe drought in Andhra Pradesh, he accused the Centre of providing only Rs 706 crore against Rs3,006 crore sought by the state.

"When are you releasing the actual amount which is due to Andhra Pradesh government for distribution among farmers," he asked.

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Government in agreement on 'one rank one pension'': Army chief

Once implemented, the 'one rank one pension' will resolve all anomalies related to the ex-servicemen's pension and bring uniformity in the post-retirement scheme

Sagar (Madhya Pradesh): The Union government has given in-principle approval to the 'one rank one pension' demand of ex-servicemen, Chief of Army Staff General VK Singh said on Friday, reports PTI.

"I have written twice to the central government on the issue of one rank one pension and it has agreed to it in principle," he said while addressing a rally of ex-servicemen at Mahar Regiment Centre Ground.

He said the Defence Minister has assured to look into the matter seriously after the Budget session of Parliament.

Implementation of one rank one pension will put a financial burden of Rs1,300 crore on the Government, he said, adding all political parties have backed the demand.

Once implemented, it will resolve all anomalies related to the ex-servicemen's pension and bring uniformity in the post-retirement scheme, the Army chief maintained.

General Singh blamed communication gap for delay in redressal of grievances of the ex-servicemen.

He said directives have been issued to officials concerned to ensure they are in regular touch with ex- servicemen and their widows and resolve their problems related to pension, healthcare and canteen facilities among others.

General Singh said a toll-free helpline number was being launched to receive complaints of ex-servicemen and ensure their speedy resolution. The service will be headed by a retired Brigadier level officer.

Army regiments and units have been directed to constitute special teams to look into the grievances, he said.

the Army chief said after the formation of special teams Rs22 crore was given to retired servicemen in pending arrears in Rajasthan.

Earlier in the day, General Singh arrived at Bhopal Airport and left for Sagar, around 180km from the state capital, in a helicopter.

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