Promotion of Payments through cards and digital means The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for introduction of steps for promotion of payments through cards and digital means. The move aims at reducing cash transactions. Several short term (to be implemented within one year) and medium term… Read More »
Date : Feb 22, 2016 The Reserve Bank of India (RBI) has cancelled the certificate of registration of the 26 (twenty six) non-banking financial companies (NBFCs) as shown in Annex, in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Following the cancellation of registration… Read More »
Entry Norms Government Sector ( Central Government ) What is the role of PFRDA? As per PFRDA Act 2013, PFRDA is an Authority to promote old age income security by establishing, regulating and developing pension funds to protect the interest of subscribers to schemes of pension funds and for matters connected therewith or incidental thereto. What is… Read More »
Online Subscriber Registration and contribution under NPS using eNPS platform In light of Prime Minister’s “Digital India” campaign on promoting e-governance for providing last mile connectivity through extensive use of ICT (Information and Communications Technology) platforms, Pension Fund Regulatory and Development Authority (PFRDA) has been pursuing the development and operationalization of online transaction facilities for… Read More »
Interest Rates of Small Saving Schemes to be recalibrated w.e.f. 1.4.2016 on a Quarterly Basis to align the small saving interest rates with the market rates of the relevant Government securities; Interest rate on savings schemes based on laudable Social Development or Social Security Goals including Sukanya Samriddhi Yojana, the Senior Citizen Savings Scheme and… Read More »
Government Approves Ten (10) Proposals of Foreign Direct Investment (FDI) Amounting to Rs. 607 Crore Approximately; Recommends One Proposal for Approval of CCEA Involving FDI of Rs. 5856.51 Crore. Based on the recommendations of Foreign Investment Promotion Board in its 231st meeting held on 22nd January 2016, the Government has approved ten FDI proposals involving… Read More »
THE GAZETTE OF INDIA EXTRAORDINARY [PART I—SEC. 1] MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 3rd February, 2016 F. No. 20/6/2015-FT(Pt.-7).—The Central Government, with a view to provide different options to the people to monetize the privately held stock of the gold, hereby notifies the ‘ Gold Monetisation Scheme-2015 ’… Read More »
GOLD MONETIZATION SCHEME List of Refineries granted Licence as on 19.01.2016
The Reserve Bank of India will shortly issue ₹ 100 denomination banknotes with three additional/revised features in the Mahatma Gandhi Series-2005, with inset letter ‘R’ in both the numbering panels, bearing the signature of Dr. Raghuram G. Rajan, Governor, Reserve Bank of India, and the year of printing ‘2015’ printed on the reverse of the… Read More »
(Updated on June 30, 2015) 1. What is Speed Clearing ? Speed Clearing refers to collection of outstation cheques (a cheque drawn on non-local bank branch) through the local clearing. It facilitates collection of cheques drawn on outstation core-banking-enabled branches of banks, if they have a net-worked branch locally. 2. Why Speed Clearing ? The… Read More »