Gold price decreased by ₹11,541 in 8 days:Centre approved the terms of the 8th Pay Commission; Apple’s market value equals India’s GDP

Yesterday’s big news was related to the 8th Pay Commission. The central government approved the Terms of Reference (i.e., conditions) of the 8th Pay Commission on October 28.
Now, after the formation of the commission, it will submit its recommendations within 18 months. After this, the new pay scale may be implemented from January 1, 2026. Meanwhile, Mehli Mistry, a close associate of Ratan Tata, has been removed from the boards of Sir Dorabji Tata Trust and Sir Ratan Tata Trust. Three out of six trustees voted against his re-appointment. Before yesterday’s big news, today’s headlines to watch out for… Now read yesterday’s big news… 1. Centre approves 8th Pay Commission terms: May be implemented from January 1, 50 lakh employees and 69 lakh pensioners to benefit The central government approved the terms of reference for the 8th Pay Commission on Tuesday, October 28. Now, after the formation of the commission, it will submit its recommendations within 18 months. Following this, the new pay scale could be implemented from January 1, 2026. However, looking at past trends, it might take until 2028 for the recommendations to be fully implemented. This means employees will receive 17-18 months of arrears either in a lump sum or in installments. This will benefit 50 lakh employees and 69 lakh pensioners. 2. Mehli Mistry, close aide of Ratan Tata, out of Tata Trust: It holds 66% stake in Tata Sons; which is the holding company of TCS, Tata Steel and Tata Motors Mehli Mistry, a close associate of Ratan Tata, has been removed from the boards of Sir Dorabji Tata Trust and Sir Ratan Tata Trust. Three out of 6 trustees voted against his re-appointment. According to reports, Darius Khambata, Pramit Jhaveri and Jehangir HC Jehangir voted in favor, but 3, including Noel Tata, voted against his re-appointment. 3. Aadhaar card is not proof of citizenship, residence and date of birth: It is only an identity proof, UIDAI clarified The Unique Identification Authority of India (UIDAI) has clarified that the 12-digit Aadhaar number is only proof of identity, not citizenship. Additionally, UIDAI has also stated that the Aadhaar card is not proof of date of birth.
In fact, the Aadhaar card is now linked to almost every essential service, but many people are still confused whether it can be proof of date of birth or Indian citizenship. To put an end to such rumors, UIDAI has issued this clarification. 4. Civil Aircraft SJ-100 to be built in India with Russian technology: Agreement between HAL and Russian state-owned company; Could be a game changer for UDAN scheme Russia’s SJ-100 civil commuter aircraft will now also be built in India. For this, Hindustan Aeronautics Limited has signed an MoU with Russia’s United Aircraft Corporation. This could prove to be a game changer for the UDAN scheme, which provides air connectivity to small cities. This MoU was signed on October 28 in Moscow. Prabhat Ranjan of HAL and Oleg Bogomolov of PJSC-UAC signed it. This happened in the presence of DK Sunil, Chairman Managing Director of HAL, and Vadim Badeka, Director General of PJSC-UAC. 5. Gold became cheaper by ₹3,034 and silver by ₹3,135: In 8 days, the price of gold decreased by ₹11,541 and silver by ₹​​​​​​​27,334, know 3 reasons Gold and silver prices saw a significant drop today, October 28. According to the India Bullion and Jewelers Association (IBJA), the price of gold has fallen by ₹​​​​​​​3,034 to ₹​​​​​​​1,18,043. Previously, its price was ₹​​​​​​​1,21,077 per 10 grams. Meanwhile, silver fell by ₹​​​​​​​3,135 to ₹​​​​​​​1,41,896 per kilogram. Yesterday, its price was ₹​​​​​​​1,45,031 per kilogram. 6. Apple’s Market Value Crosses $4 Trillion for the First Time: This is equivalent to India’s GDP, company’s shares rose 15% after iPhone-17 launch Apple’s market cap has crossed 4 trillion dollars, or 353 lakh crore, for the first time. This figure is equivalent to India’s GDP. According to the IMF, India’s current GDP is 4.13 trillion dollars, or ₹​​​​​​​364 lakh crore. Also see who were the world’s top-10 richest yesterday Know the status of yesterday’s stock market and gold-silver Know the latest prices of petrol-diesel and domestic gas cylinders