Daily Archives: January 15, 2016

Govt allows PF members to submit his claim directly to Commissioner

THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION New Delhi, the 14th January, 2016 G.S.R 25(E).—In exercise of the powers conferred by section 5 read with sub-section (1) of section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby… Read More »

Govt Amends Employees’ Provident Funds Appellate Tribunal Rules 1997

THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION New Delhi, the 14th January, 2016. G.S.R 24(E).—In exercise of the powers conferred by sub-section (1) of section 21 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following rules… Read More »

Govt notifies revised standards for Common Effluent Treatment Plants

Environment Ministry notifies revised standards for Common Effluent Treatment Plants (Cetps) Across industrial clusters The Ministry of Environment, Forest & Climate Change has notified the revised standards for Common Effluent Treatment Plants (CETPs) operating at various industrial clusters in the country. The primary aim of the revised standards is to minimise water pollution. These standards… Read More »

Solar Power Capacity Crosses Milestone of 5000 MW in India

Solar Power Capacity Crosses Milestone of 5,000 MW in India On the auspicious occasion of Makar Sankranti/Pongal, the installed capacity of solar power in India crossed the milestone of 5,000 MW yesterday.  The cumulative installed capacity has reached to 5,130 MW with installed capacity of 1385 MW in current FY.  The state-wise break-up of 5,130… Read More »

Effective Revenue Deficit of 20%

Government committed to Promoting and Strengthening inclusive and sustainable Development by ensuring proper and effective Utilization of Funds without compromising Fiscal Consolidation Government is committed to promoting and strengthening inclusive and sustainable development by ensuring proper and effective utilization of funds provided in the Annual Budget without compromising fiscal consolidation. As a result of sound… Read More »

Govt to Issue Income tax refunds upto Rs 50000 expeditiously

Issue of IT Refunds of Smaller Amounts In an initiative to reduce taxpayer grievances and enhance the taxpayer satisfaction, the Central Board of Direct Taxes had issued instructions to Central Processing Center (CPC), Bengaluru and the field officers in December, 2015 to issue refunds of amounts less than Rs.50,000/- expeditiously. As a result of the… Read More »

Credit information reporting in respect of Self Help Group

RBI/2015-16/291 DBR.CID.BC.No.73/20.16.56/2015-16 January 14, 2016 All Scheduled Commercial Banks (including RRBs) All Credit Information Companies Dear Sir/ Madam Credit information reporting in respect of Self Help Group (SHG) members Please refer to the instructions contained in paragraph (v) of the Annex III to our circular DBOD.No.CID.BC.127/20.16.056/2013-14 dated 27 June, 2014 advising banks to report the… Read More »

RBI Clarified Seeding of Aadhaar in Bank Accounts

RBI/2015-16/289 FIDD.CO.LBS.BC. No.17/02.01.001/2015-16 January 14, 2016 The Chairman and Managing Director Scheduled Commercial Banks including RRBs Dear Sir/Madam, Direct Benefit Transfer (DBT) Scheme –Seeding of Aadhaar in Bank Accounts – Clarification Please refer to circular RPCD.CO.LBS.BC.No.11/02.01.001/2013-14 dated July 9, 2013 regarding the use of Aadhaar to facilitate delivery of social welfare benefits by direct credit… Read More »

RBI allowed banks to offer all services through Off Site ATMs

RBI/2015-16/288 DBR.No.BAPD.BC.72/22.01.001/2015-16 January 14, 2016 All Scheduled Commercial Banks (Including RRBs) Dear Sir/Madam, Section 23 of Banking Regulation Act, 1949 -Relaxations in Branch Authorisation Policy – Off Site ATMs Please refer to circular DBOD. No. BL. BC. 137/22.01.001/2008-09 dated June 12, 2009, on the above subject, permitting Scheduled Commercial Banks to install off-site ATMs at… Read More »

RBI revised guidelines on Financial Literacy Centres of Banks

RBI/2015-16/286 FIDD.FLC.BC.No.18/12.01.018/2015-16 January 14, 2016 To Chairman/MD & CEO Scheduled Commercial Banks (Including RRBs) Dear Sir/Madam, Financial Literacy Centres (FLCs) – Revised Guidelines Please refer to our circulars RPCD.FLC.No.12452/12.01.018/2011-12 dated June 6, 2012 and RPCD.FLC.No.7641/12.01.018/ 2012-13 dated January 31, 2013issuing operational guidelines for conduct of financial literacy camps by FLCs and rural branches of banks.… Read More »

RBI Clarification on Basel III Capital Regulations

RBI/2015-16/285 DBR.No.BP.BC.71/21.06.201/2015-16 January 14, 2016 All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Madam / Sir, Master Circular – Basel III Capital Regulations – Clarification Please refer to para 7: Coupon Discretion on Additional Tier 1 Debt Capital Instruments of the Circular DBOD.No.BP.BC.38/21.06.201/2014-15 dated September 1, 2014 on ‘Implementation of Basel… Read More »

Protection of Children from Sexual Offences , National Conference

one day National Conference on POCSO Act, 2012 calls upon stakeholders to take immediate measures to ensure safe childhood for children A one day National Conference on implementation of the Protection of Children from Sexual Offences (POCSO)Act, 2012 was jointly organized by the Ministry of Women and Child Development and the National Commission for Protection… Read More »

Mumbai Port gets Second Chemical Berth

Mumbai Port gets its Second Chemical Berth Minister for Shipping and Road Transport &Highways Shri Nitin Gadkari inaugurated the second chemical berth of Mumbai Port at Pir Pau yesterday. This berth is situated about 3.2 Km away from the shore in deep waters close to the main harbour channel. Built at a cost of 130… Read More »

Increase in Cargo Traffic handled by Major Ports

Cargo Traffic handled by Major Ports increases by 13.45 Million Tonnes Buoyed by the levels and changes of demand both in the domestic and global activity, cargo traffic at India’s twelve major ports witnessed an increase of 13.45 million tonnes during the period of April-December-2015 as compared to last year. Cargo traffic at India’s 12… Read More »

Govt to issue 2nd tranche of Sovereign Gold Bond Scheme

Finance Minister Shri Arun Jaitley: Asks all the banks to make their best efforts to reach-out to potential investors to invest in the Second tranche of the Sovereign Gold Bonds which will be kept open from 18th January, 2016 to 22nd January, 2016                                     The Union Finance Minister Shri Arun Jaitley asked all the… Read More »

RBI notify conditions for Sovereign Gold Bonds 2015-16

Reserve Bank of India RBI2015-16/290 IDMD.CDD.No.1573/14.04.050/2015-16 January 14, 2016 The Chairman& Managing Director All Scheduled Commercial Banks, (Excluding RRBs) Stock Holding Corporation of India Ltd.(SHCIL) Dear Sir/Madam, Sovereign Gold Bonds  2015-16 Government of India has vide its Notification F.No. 4(19)-W&M/2014 dated January 14, 2016 announced that the Sovereign Gold Bonds, 2016 (“the Bonds”) will be… Read More »