Several relaxations brought in GP Fund rules In a major relief for government employees, Ministry of Personnel, Public Grievances and Pensions has announced several relaxations in General Provident Fund Rules, with liberalization and simplification, particularly relating to advances and withdrawals by the subscriber/ employee. According to the Union Minister of State (Independent Charge) for Development… Read More »
Bharatiya Mahila Bank (BMB) to be merged with State Bank of India (SBI) to ensure greater banking services outreach to a larger number of women, at a faster pace Union Government is committed to enhance the access to financial services to the population at large and women in particular The Government of India has decided to… Read More »
Employees’ Enrolment Campaign launched by EPFO to extend social security benefits to all eligible workers An Employees’ Enrolment Campaign has been launched by Employees’ Provident Fund Organisation during the period 01.01.2017 to 31.03.2017, in order to extend social security benefits to all the eligible workers in the country. During the Campaign, various financial incentives are… Read More »
“Kahin Bhi-Kabhi Bhi” medical services launched for ESIC beneficiaries of Delhi/Noida on pilot basis Employees’ State Insurance Corporation (ESIC) has launched the “Kahin Bhi-Kabhi Bhi” medical services for ESIC beneficiaries of Delhi/Noida on a pilot basis w.e.f 1st November, 2016. Under this scheme Insured Persons (IPs) and their families may seek primary medical care services… Read More »
Review of implementation of SEZ Policy Ongoing review and reform, as necessary, of Government policy and procedure is inherent to Public Policy. The Government, on the basis of inputs/suggestions received from stakeholders on the policy and operational framework of the SEZ Scheme, periodically reviews the policy and operational framework of SEZs and takes necessary measures… Read More »
Resolution of Stressed Assets by Banks Total Stressed Assets (Gross Non Performing Assets and Restructured Standard Advances) of Scheduled Commercial Banks (SCBs) was Rs.9.64 lakh crore as on Dec 31, 2016 and Reduction in NPAs- due to actual recoveries (April to Dec) for SCBs are Rs.46,245 crore at the end of Dec 31, 2016 for… Read More »
Reforms to Boost Commodities Trading Regulatory reforms are continuous process and steps are taken continuously to further strengthen and develop commodities derivatives markets. Subsequent to the merger of the erstwhile Forward Markets Commission (FMC) with the Securities and Exchange Board of India (SEBI) in September 2015, SEBI has taken several steps towards reforming and boosting… Read More »
Dispensing of fake currency notes through Automated Teller Machines (ATMs) There have been media reports regarding dispensation of Rs 2000 notes resembling a genuine note but bearing the legend “Children Bank of India” in place of “Reserve Bank of India” from Delhi, Meerut (Uttar Pradesh), Sitamarhi (Bihar) and a few other places. State Bank of… Read More »
Government to conduct field trial with plastic banknotes at five locations of the country; Approval for procurement of plastic substrate and printing of bank notes of Rs.10 denomination on plastic banknote substrates conveyed to RBI It has been decided to conduct a field trial with plastic banknotes at five locations of the country. Approval for… Read More »
Merger of State Bank of India (SBI) with its five subsidiaries; The existing customers of Subsidiary Banks will have access to SBI global network which has presence in all the time zones. The Cabinet in its meeting on 15th February, 2017 has approved the proposal of acquisition of subsidiary banks of State Bank of India… Read More »