Business
8th Pay Commission: NC JCM Seeks OPS Restoration, Revised ToR And Jan 1, 2026 Rollout Date
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NC JCM urges Prime Minister Narendra Modi and Nirmala Sitharaman to amend 8th Pay Commission ToR, restore Old Pension Scheme, and more.
8th Pay Commission: The ToR acts as the foundation document of any pay commission.
8th Pay Commission: As the 8th pay commission has begun working after the notification of Terms of Reference (ToR) last month, the National Council (Staff Side) of the Joint Consultative Machinery (NC JCM) has sought the intervention of the Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman. The body has urged them to amend major changes to the Terms of Reference (ToR) of the 8the Pay Commission, according to a report of Economic Times.
It has also sought restoration of the Old Pension Scheme (OPS) for central government employees under National Pension System (NPS).
According to ET report, Shiva Gopal Mishra, secretary of NC JCM, in the letter to the PM and FM suggested amendments to the 8th Pay Commission ToR, calling them important to serve the ‘large interest’ of current and retired central government employees.
NC JCM has sought amendments in the matter related to restoration of “expectations of stakeholders” clause that existed in the 7th CPC, removal the phase ““unfunded cost of non-contributory pension schemes”, declaration of January 1, 2026 as the implementation date, and offer 20% interim relief to employees and pensioners.
The body as quoted by ET said that the missing of “expectations of stakeholders” clause sends a discouraging signal.
In the letter, the body has urged to restore the commutation after 11 years with 5% additional pension every five years after retirement and revision coverage for all pensioners.
The body has sought the restoration of the OPS for those who joined government service on or after January 01, 2024. The body said it’s reflect the long-standing demand for financial security after retirement.
Headed by Justice (Retd.) Ranjana Desai, the 8th Pay Commission is expected to submit the recommendations on salaries, basic pay, fitment factor, and all of that to within 18 months. It couldn’t be possible to submit before mid-2027 and then recommendations will be passed through the Cabinet before becoming effective retrospectively from January 01, 2026.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
November 23, 2025, 14:17 IST
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Business
Asian stocks today: Markets trade in green after US SC’s blow to Trump’s tariffs; HSI jumps over 2% – The Times of India
Asian markets inched higher on Monday after the US Supreme Court invalidated a major part of President Donald Trump’s tariff framework, a policy that had shaken the global economy since last year. Hong Kong’s HSI climbed more than 2% or 579 points reaching 26,992 with ecommerce heavyweights Alibaba and JD.com each jumping over three percent. Seoul also scaled a fresh record high to 5,816, buoyed by strong gains in chipmakers Samsung Electronics and SK hynix.Markets in Singapore, Wellington, Taipei and Manila also ended in positive territory, while Sydney slipped. Meanwhile, trading in Tokyo and Shanghai was shut due to holidays.The gains across the region were driven primarily by technology stocks. These companies have powered much of Asia’s market strength this year as investors increasingly shift funds away from Wall Street in search of relatively cheaper valuations. Trump’s trade strategy suffered a significant legal setback on Friday when the nation’s highest court ruled that the International Emergency Economic Powers Act, which the White House relied on in April to introduce broad tariffs, “does not authorise the president to impose tariffs”. In response, the president pledged to introduce a fresh global tariff of 10% using another legal route, which by Saturday, he had increased to 15%. The latest developments have injected a new layer of uncertainty into the trade outlook. There are now also demands for authorities to return funds collected under the earlier tariff scheme, while analysts caution that the administration could still look for alternative mechanisms to enforce duties.The court’s decision has also affected the outlook for trade agreements negotiated by Washington. Even so, investors in Asia largely welcomed the ruling, which is widely viewed as supportive for China and India. Technology counters emerged as the biggest winners.In currency markets, the dollar came under pressure, falling sharply against the yen, pound and euro. Meanwhile, oil prices declined by more than one percent on optimism surrounding a potential Iran nuclear deal.
Business
Zudio, Trends: Budget fast fashion is taking small-town India by storm
More Indians in small towns are now shopping for affordable brands instead of unlabelled goods in the bazaars.
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AI contributes to spike in fashion sales complaints to Citizens Advice
The rising use of AI by fashion retailers contributed to Citizens Advice receiving almost 18,000 complaints from customers last year – a surge of 21% on a year earlier, it has reported.
The advisory service said it was helping a consumer with a fashion purchase every seven minutes, finding that the ever-increasing use of AI “makes it easier for scammers to trick people into buying items that look nothing like the images advertised”.
According to the charity’s consumer service, 82% of complaints about clothes, shoes and accessories related to online orders (14,487), while 14% were bought in-store (2,569).
Women’s clothing caused the most headaches, making up almost half (48%) of all complaints (8,508), while men’s clothing made up 20% (3,523).
The most common five issues suffered by fashion buyers last year were faulty goods, making up 18% of all complaints, delivery failures or delays (13%), trouble returning unwanted goods (12%), breach of contract (9%) and poor customer service (6%).
Of last year’s complaints, one in 13 involved scams, including shoppers thinking they were buying items from UK-based companies, due to their advertising.
Instead, consumers had received poor quality items that were not as pictured, and, when they tried to return them, were asked to pay expensive fees to send them to an address overseas.
One consumer, Hannah, a mother in her 30s from the East Midlands who did not want her surname published, told Citizens Advice she was Christmas shopping online when she saw a jacket she liked advertised at half price.
The company selling the jacket claimed it was based in London’s Covent Garden, and Hannah bought it for £35 using a debit card.
Hannah said: “The jacket took a few weeks to come and when it did, it was a totally different material and colour, and not as premium as it was pictured. The pockets were different and it had massive plastic buttons, but the one in the photograph had nice metal ones. It even smelled cheap.”
Hannah emailed the company to complain and request a refund.
She said: “The service felt very different to any other clothing company I’d dealt with. They asked for pictures of the jacket I’d received and I thought ‘this company sent the item to me, surely they should know what it looks like’. They also emailed me on Boxing Day.
“They said I could return the jacket if I sent it to China at my own expense, it left me fuming. I looked up the cost of shipping and it was about £15. The website clearly stated it was a UK business, which was deceptive.”
Hannah reported the incident to the Citizens Advice Consumer Service, and was able to get a full refund through her bank, which covered the cost. Eventually, the company did issue a refund itself.
Jane Parsons, consumer spokeswoman at Citizens Advice, said: “Shopping should be simple and stress-free, but every year we hear from thousands of frustrated people who have a tough time trying to resolve issues with retailers and sellers.
“Consumers face all kinds of problems from receiving faulty items, to waiting weeks for deliveries and poor customer service. Plus, the ever-increasing use of AI makes it easier for scammers to trick people into buying items that look nothing like the images advertised.
“It’s important consumers know what steps to take before they part with their cash or after there’s an issue. It can make all the difference in avoiding a trap or getting a refund.”
Mike Andrews, national coordinator of the National Trading Standards eCrime Team, said: “Online retail scams leave shoppers out of pocket and understandably frustrated.
“What appears to be a genuine retailer can turn out to be a fake website, a misleading advert or goods that never arrive.
“Criminals are increasingly using professional-looking sites and convincing promotions to exploit people’s confidence in well-known brands.
“We would encourage consumers to pause before buying online – check the retailer using a URL checker from a reputable website like Get Safe Online, be cautious of offers that seem too good to be true, avoid buying directly through social media adverts and always pay by card or a secure payment platform.”
UK consumer laws are difficult to enforce when sellers turn out to be based overseas.
Citizens Advice suggests the following before buying from an unfamiliar company:
– Check reviews on search engines and third party websites– Watch out for heavily discounted, ‘too good to be true’ prices and huge closing down sales– Be mindful of the targeted shopping adverts in your social media feeds – this is often how customers are drawn in– Consider whether images used to advertise an item were created by AI. This can be difficult, but look for overly airbrushed images, inconsistent textures or distortions on the face and body– Check the company’s website delivery information. Overseas stores offer shipping to the UK in a much longer timeframe than a genuine UK brand would– If you’ve been caught out by this type of scam and you paid by debit or credit card, you may be able to use a ‘chargeback scheme’ or a ‘section 75’ claim to get a refund.
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