RBI announces more measures to deal with economic fallout of Covid-19
New Delhi: The Reserve Bank of India (RBI) on Wednesday announced more measures, including extension of period for realisation and repatriation of export proceeds, to deal with the economic fallout of Covid-19 pandemic.
It also increased ways and means advances (WMA) limit by 30 per cent from existing limit for all states and union territories.
In a statement, the RBI said presently value of goods or software exports made by the exporters is required to be realised fully and repatriated to the country within a period of 9 months from the date of exports.
"In view of the disruption caused by the COVID-19 pandemic, the time period for realization and repatriation of export proceeds for exports made up to or on July 31, 2020, has been extended to 15 months from the date of export," it said.
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Gratuity stuck despite 2 favourable orders, Ex IIT bombay contract worker commits suicide
Mumbai: On December 27, 2019, Raman Garase, alongside Dadarao Ingale and Tanaji Lad, received a disheartening "retirement letter" from the administration at IIT Bombay. Despite their fitness at 60 years old, the transition to retirement meant forfeiting post-retirement benefits, including gratuity. With over three decades of service, the trio fought for their rights, securing two favorable orders from the labor commission mandating the institute to pay up.
However, as the administration geared up for another appeal, Garase tragically succumbed to hopelessness, taking his own life on May 2. His death shows the plight of 1,800 contractual workers "retired" over the past decade, denied benefits despite years of service.
Garase, Ingale, and Lad had hoped for permanency during their decades-long tenure, promises that remained unfulfilled. The institute's silence on Garase's suicide and refusal to acknowledge his ordeal exacerbates the injustice faced by contractual workers. Their fight, supported by student groups and rights advocates, sheds light on systemic issues within institutions like IIT Bombay.
Read the detailed report by The Wire here :
