Provisions of the Financial Resolution and Deposit Insurance Bill, 2017 meant to protect interests of depositors The Financial Resolution and Deposit Insurance Bill, 2017 (FRDI Bill), introduced in the Lok Sabha on August 10, 2017, is presently under the consideration of the Joint Committee of the Parliament. The Joint Committee is consulting all the stakeholders… Read More »
No Proposal Under Consideration to Withdraw Bank Chequebook Facility In a section of the media, it has appeared that there is a possibility that the Central Government may withdraw bank cheque book facility in the near future, with an intent to encourage digital transactions. It is denied that there is any proposal under consideration of… Read More »
The Government of India floats Series-III of Sovereign Gold Bonds 2017-18 for the period from October 09, 2017 to December 27, 2017 ; For the next subscription period i.e. November 7-9, 2017, the issue price shall be Rs. 2,934 per gram with Settlement on November 16, 2017. The Government of India, in consultation with the… Read More »
Sovereign Gold Bonds Scheme, Operational Guidelines (Revised) RBI/2017-18/72 IDMD.CDD.No.927/14.04.050/2017-18 October 06, 2017 The Chairman & Managing Director All Scheduled Commercial Banks (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India ltd.(SHCIL) National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bonds Scheme, Operational Guidelines This has reference to… Read More »
PFRDA rolls-out Aadhar Powered Digital on Boarding into APY through eNPS platform for wider reach; Benefits of APY@eNPS include paperless registration; No need to visit Bank Branch & to have Banking Id and 24*7 Online En-rollment at the customer’s convenience. Pension Fund Regulatory and Development Authority (PFRDA) has embarked upon several digital friendly steps for… Read More »
Aadhaar mandatory for KVP, NSC, PPF and all other post office deposits [To be published in the Gazette of India, Extraordinary, Part II, Section 1, Sub Section (i) Government of India Ministry of Finance Department of Economic Affairs New Delhi, 29th September, 2017 NOTIFICATION G.S.R.. (E).- In exercise of the powers conferred by section 12… Read More »
Highlights of the Economic Survey 2016-17 Volume-2 Fiscal Developments The fiscal outcome of the Central Government in 2016-17 was marked by strong growth in tax revenue, sustenance of the pace of capital spending and a consolidation of non-salary/pension revenue expenditure. This combination allowed the Government to contain the fiscal deficit to 3.5 per cent… Read More »
Pension Scheme for The Elderly Government has launched the ‘Pradhan Mantri Vaya Vandana Yojana (PMVVY)’ to provide social security during old age and to protect elderly persons aged 60 and above against a future fall in their interest income due to uncertain market conditions. The scheme enables old age income security for senior citizens through… Read More »
Revision of guidelines of Sovereign Gold Bonds Scheme The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given approval for revision of guidelines of Sovereign Gold Bonds (SGB) Scheme with a view to achieve its intended objectives. Two sets of changes have been made in the scheme: I. Specific changes have been… Read More »
FM to formally launch Pradhan Mantri Vaya Vandana Yojana (PMVVY) tomorrow; PMVVY is a Pension Scheme announced by the Government of India exclusively for the senior citizens available from 4th May, 2017 to 3rd May, 2018; The Scheme can be purchased offline as well as online through Life Insurance Corporation of India The Union Minister… Read More »