Cabinet approves Revision of pension of BSNL Pensioners Removing Anomalies The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the revision of pension of BSNL pensioners and family pensioners, who retired prior to 10.06.2013 by allowing the benefit of merger of 50% DA/DR with Basic Pay/ Pension, effectively amounting to 78.2%… Read More »
Interest subvention to Public Sector Banks, Private Sector Banks, Cooperative Banks, Regional Rural Banks and NABARD for providing short term crop loan to farmers The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Interest Subvention Scheme for farmers for the year 2016-17. The Government has earmarked a sum of Rs.… Read More »
Insolvency and Bankruptcy Code 2016 Insolvency and Bankruptcy Code 2016 received the Assent of President on 28.05.2016 . Read Complete Insolvency and Bankruptcy Code 2016 Notified by the Government. This Code has two parts i.e. Part II for Corporate Debtors (applicable for Companies and LLPs) and Part III, IV and V applicable to individuals and partnership firms.… Read More »
Quarterly Revision of Interest Rates for Small Savings Schemes On the basis of the decision of the Government, interest rates for small savings schemes are to be notified on quarterly basis. Accordingly, the rates of interest on various small savings schemes for the second quarter of financial year 2016-17, on the basis of the interest… Read More »
Major impetus to job creation and infrastructure: Radical changes in FDI policy regime; Most sectors on automatic route for FDI 20.06.2016 The Union Government has radically liberalized the FDI regime today, with the objective of providing major impetus to employment and job creation in India. The decision was taken at a high-level meeting chaired by… Read More »
Non Resident Indians (NRIs) can now join and subscribe to NPS online through eNPS NRIs have a pivotal role to play in the Indian economy. India has the second-largest Diaspora in the world, with around 29 million people living in over 200 countries and out of these 25% live in the Gulf countries. Most of… Read More »
Insolvency and Bankruptcy Code 2016 Key feature of Insolvency and Bankruptcy Code 2016 Scope of Insolvency and Bankruptcy Code 2016 It extends to the whole of India: Provided that Part III of Code shall not extend to the State of Jammu and Kashmir. It shall come into force on such date as the Central Government may, by notification… Read More »
THE GAZETTE OF INDIA EXTRAORDINARY [PART II—Section 1] MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 28th May, 2016/Jyaistha 7, 1938 (Saka) The following Act of Parliament received the assent of the President on the 28th May, 2016, and is hereby published for general information: THE INSOLVENCY AND BANKRUPTCY CODE, 2016 NO. 31… Read More »
Government approves three (3) proposals of Foreign Direct Investment (FDI) amounting to Rs. 60.73 crore approximately; recommends one proposal for approval of CCEA involving FDI of Rs. 12,973.14 crore. Based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its 234th meeting held on 29th April 2016, the Government has approved three FDI… Read More »
Royal Bank of Scotland (RBS) on Monday said that it will be closing its retail banking branches in India in a phased manner and has started informing its customers. “After examining a number of options for our banking business in India, we decided to wind down our corporate, institutional and retail banking businesses in India.… Read More »