The Reserve Bank of India's (RBI) November 2019 guidelines on the compensation of key managerial personnel direct banks to establish a clawback mechanism for variable pay to address misconduct risk and ensure compliance with all relevant statutory and regulatory requirements. The clawback clauses feature in the employment contracts of the executives concerned, allowing the bank to launch recovery of compensation in cases of proven misconduct or violations of company policy, said officials in the know.
ByHeart, which makes organic infant formula, recalled all of its products sold throughout the U.S. on Tuesday amid a growing outbreak of infant botulism.
Union Minister Piyush Goyal urged states to disburse promised industrial incentives on time and simplify laws to attract investments. He emphasized the importance of quality control orders in boosting domestic manufacturing and consumer safety. The minister also highlighted the need to focus on eastern and north-eastern states for economic growth.
