Unified Pension Scheme for Employees
Vadhvan Port Project
Prime Minister Narendra Modi laid the foundation stone for a major new project called the Vadhvan Port in Palghar, Maharashtra, on August 30, 2024. This project is expected to cost around ₹76,000 crore.
The Assam Legislative Assembly passed a new law called the Assam Compulsory Registration of Muslim Marriages and Divorces Bill, 2024.
India recently commissioned its second nuclear-powered ballistic missile submarine (SSBN) called INS Arighaat. This event took place in Visakhapatnam.
The Unified Lending Interface (ULI) is a new technology platform that the Reserve Bank of India plans to introduce across the country. Its main purpose is to make it easier and faster for people to get loans, especially those in rural areas.
Indian government will start a new pension system called the Unified Pension Scheme (UPS), on April 1, 2025.
Key Features of the UPS
Guaranteed Pension: Employees will receive 50% of their average basic pay from their last year of work.
Minimum Pension Guarantee: Retirees with less than 25 years of service will get at least Rs 10,000 per month as a pension.
Family Pension: 60% of the last drawn pension.
Inflation Adjustment: Pensions will be adjusted based on the All India Consumer Price Index.
Jay Shah, who is currently the secretary of the BCCI, will be the new chairman of the International Cricket Council (ICC).
