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Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances

RBI/2016-17/143 DBR.No.BP.BC.37/21.04.048/2016-17 November 21, 2016 All Entities Regulated by the Reserve Bank of India Madam / Dear Sir, Prudential Norms on Income Recogn..

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Recommendation for Improvement in Implementation of RTI Act

Section 25(1) of the RTI Act, 2005 provides that the State Information Commission shall as soon as practicable after the end of each year, prepare a report on the implementation of the provisions of this Act during that year and forward a copy thereof to the appropriate Government. Further, Section 25(3)(g) of RTI Act, 2005 pro..

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Social Security Coverage Scheme for Workers in Unorganised Sector

In order to provide social security benefits to the workers in the unorganised sector, the Government has enacted the Unorganised Workers’ Social Security Act, 2008. The 2008 Act stipulates formulation of suitable welfare schemes for unorganised workers on matters relating to: (i) life and disability cover, (ii) health and maternity benefits, (iii) old age pro..

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Withdrawal of Legal Tender Status for Rs.500 and Rs.1000 Notes

Government of India vide their Notification no. 2652 dated November 8, 2016 have withdrawn the Legal Tender status of ₹ 500 and ₹ 1,000 denominations of banknotes of the Mahatma Gandhi Series issued by the Reserve Bank of India till November 8, 2016. This is necessitated to tackle counterfeiting Indian banknotes, to effectively nul..

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Text of Prime Minister's address to the Nation

My dear citizens  I hope you ended the festive season of Diwali with joy and new hope. Today, I will be speaking to you about some critical issues and important decisions. Today I want to make a special request to all of you. You may recall the economic situation in May 2014 when you entrusted us with an onerous responsibility. In the context of BR..

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Historic announcements on ending corruption and black money by PM

Historic announcements on ending corruption and black money by PM; Five hundred and one thousand rupee notes will no longer be legal tender from midnight tonight In a historical move that will add record strength in the fight against corruption, black money, money laundering, terrorism and financing of terrorists as well as counterf..

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Entire Country gets National Food Security Act coverage

Kerala and Tamil Nadu have also rolled out the National Food Security Act (NFSA). With this, now the Act has been implemented in all the States and Union Territories. As a result, now 81.34 crore persons will get wheat at Rs. 2/ kg and rice at Rs. 3/ kg. This was announced by Union Minister of Consumer Affair, Food & Public Distribution, Shri Ram Vilas Paswan wh..

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Prohibition of Benami Property Transactions Act, 1988

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes  Subject: Prohibition of Benami Property Transactions Act, 1988 –reg. Benami Property Transactions Act, 1988 has been amended by the B..

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Smt. Maneka Sanjay Gandhi expresses concern at the inadequate implementation of Sexual Harassment of Women at Workplace Act, 2013

Smt. Maneka Sanjay Gandhi expresses concern at the inadequate implementation of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013  WCD Ministry to set up Inter-Ministerial Committee and an e-platform for effective redressal of complaints of sexual harassment at workp..

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Justice Reddy committee on OROP submits report

The one-man judicial committee on One Rank One Pension (OROP) submitted its report to the Defence Minister Shri Manohar Parrikar, here today. The Central Government had appointed the committee under the Chairmanship of Justice L Narasimha Reddy, retired Chief Justice of Patna High Court to look into the anomalies, if any, arising out of implementation of OROP. ..

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Foreign Exchange Management (Manner of receipt and payment) Regulations, 2016

RBI/2016-17/93 A.P. (DIR Series) Circular No. 11 [(1)/14(R)] October 20, 2016 To All Category - I Authorised Dealer Banks Madam/Sir, Foreign Exchange Management (Manner of receipt and payment) Regulations, 20..

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Date for seeking comments from stakeholders and public on the Draft FRDI Bill extended till 31st Oct 2016

Date for seeking comments from stakeholders and public on the Draft Financial Resolution and Deposit Insurance (FRDI) Bill extended till 31st October, 2016.    The Government of India had invited stakeholder/public comments on the Draft Financial Resolu..

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M/O SJ&E organizes Pre-Legislative Consultation meeting on Persons in Destitution Model Bill- 2016

Shri Thaawarchand Gehlot, Minister for Social Justice & Empowerment chaired a Pre-legislative Consultation Meeting on 'The Persons in Destitution (Protection, Care and Rehabilitation) Model Bill, 2016' organized by the Ministry of Social Justice & Empowerment here today.  Smt. Anita Agnihotri, Secretary of M/o SJ&E and senior officers of the m..

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Section 24 and Section 56 of the Banking Regulation Act, 1949 - Maintenance of Statutory Liquidity Ratio (SLR)

RBI/2016-17/83 DBR.No.Ret.BC.15/12.02.001/2016-17 October 13, 2016 All Commercial Banks, Primary (Urban) Co-operative Banks (UCBs), State and Central Co-operative Banks (StCBs/CCBs) Dear Sir, Section 24 and S..

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Govt. decides to raise EPFO Investment in ETF from 5 Per Cent to 10 Per Cent

The Government has decided to raise the Employees Provident Fund ( EPF) investment in Exchange Traded Funds from present 5 per cent to 10 per cent. Announcing this Shri Bandaru Dattatreya, the Minister of State(IC) for Labour and Employment said that the decision has been taken considering the good returns in ETF investment. As..

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