Rates of interest on advances and Loans to Govt. employees, for construction/Purchase of houses/flats No.5(3)-B(PD)/2015 Government of India Ministry of Finance Department of Economic Affairs (Budget Division) Room No. 263-B, North Block, New Delhi dated the 3rd February, 2016. Office Memorandum The undersigned state-that the rates of interest on advances and loans given to Government… Read More »
Big Boost to Ease of Doing Business- Passing of Bankruptcy Code; Code is a comprehensive and systemic reform, which will give a quantum leap to the functioning of the credit market and would take India from among relatively weak insolvency regimes to becoming one of the world’s best insolvency regimes; Vision of the new law… Read More »
Press Information Bureau Government of India Ministry of Finance Date: 06-May-2016 Gold Monetization Scheme: Deposits by Temple/Religious Bodies Eight (08) temples have deposited gold under Gold Monetization Scheme, 2015 so far and the State-wise details are as under: Name of the State Number of temples deposited gold under GMS Tamil Nadu 04 Maharashtra 02… Read More »
INSOLVENCY AND BANKRUPTCY CODE 2016 AS PASSED BY LOK SABHA ON 5.5.2016 Bill No. 349-C of 2015 [Download ] INSOLVENCY AND BANKRUPTCY CODE 2016
No discrimination in housing sanctions to States, asserts Shri M.Venkaiah Naidu States empowered to sanction houses, more funds will be sought based on proposals received, says Minister Central Assistance to Prime Minister’s Awas Yojana (Urban ) substantially hiked Members say availability of land and resources key for success of housing mission Minster warns of strict… Read More »
Action Against Ponzi Scheme Offenders The Government is committed to tackle the menace of unregulated ponzi deposit-taking schemes and take action against the offenders. The Ministry of Corporate Affairs has ordered investigations through Serious Fraud Investigation Office (SFIO) under Section 235 of the Companies Act, 1956 and Section 212 of the Companies Act, 2013 into… Read More »
Legislative Framework for Regulating Deposit Taking Activities The Government of India had constituted an Inter-Ministerial Group (IMG) for identifying gaps in the existing regulatory framework for deposit taking activities and to suggest administrative / legislative measures, including formulation of a new law, to cover all relevant aspects of ‘Deposit Taking’. IMG has finalized its Report… Read More »
MASTER DIRECTION – INSURANCE FED MASTER DIRECTION NO.9 (2015-16), DATED 1-1-2016 Issuance of insurance is regulated under sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999, (42 of 1999), read with Notification No.FEMA.12/2000- RB, dated May 3, 2000. These Regulations are amended from time to time to incorporate the changes in the… Read More »
Swabhiman Campaign Under the Swabhimaan campaign, the banks were advised to provide appropriate banking facilities to habitations having a population in excess of 2000 (as per 2001 census) by March 2012. The banks identified approximately 74000 habitations across the country having a population of over 2000 for providing banking facilities. As per reports received from… Read More »
Bank Board Bureau With the approval of Appointments Committee of the Cabinet (ACC), the Government has set-up an autonomous Banks Board Bureau (BBB), which has stared functioning with effect from 1.4.2016. The Bureau will search and select heads of public Sector Banks/Financial Institutions and help them in developing differentiated strategies and capital raising plans through… Read More »