Daily Archives: February 3, 2016

IRDA Draft on Loans or Temporary advances to Full-time Employees of the Insurers

Source IRDA Date:03-02-2016 Insurance Regulatory and Development Authority of India (Loans or Temporary advances to the Full-time Employees of the Insurers) Regulations, 2016 Insurance Laws (Amendment) Act 2015 has carried out amendments to the section 29. The amended Section 29 (3)(a) empowers the Authority to frame regulations on the loans or temporary advances to the… Read More »

Consumer Confidence Survey December 2015

Source RBI Date : Feb 03, 2016 Consumer Confidence Survey: December 2015 The Consumer Confidence Survey provides an assessment of respondents’ perceptions on general economic conditions and own financial situation during the current period and a year ahead. The survey captures qualitative information on a three point scale i.e., improve, remain same or worsen, from… Read More »

CBEC circular on Indian Customs Single Window project , NOC Module and Lab Module

Extending the Indian Customs Single Window to other locations and other Participating Government Agencies Circular No. 03/2016-Cus F.No.450/147/2015-Cus-IV Government of India Ministry of Finance Department of Revenue (Central Board of Excise and Customs) ****** New Delhi, dated the 3 rd February, 2016 To, All Chief Commissioners of Customs / Customs (Preventive), All Chief Commissioners of… Read More »

Amend notification No. 12/2012- Customs

Seeks to further amend notification No. 12/2012- Customs dated 17.03.2012. [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 7/2016-Customs New Delhi, the 2 nd February, 2016 G.S. R. (E).—In exercise of the powers conferred by sub-section (1)… Read More »

MAGIC process lab at CSIR-National Chemical Laboratory, Pune

Dr. Harsh Vardhan inaugurates the “ MAGIC ” process lab at CSIR-National Chemical Laboratory, Pune The Union Minister for Science & Technology & Earth Sciences, Dr Harsh Vardhan, inaugurated a unique MAGIC [Modular, Agile, Intensified & Continuous] Process Lab at CSIR-National Chemical Laboratory (CSIR-NCL) Pune last evening. While inaugurating the facility he announced that “The… Read More »

Appointment and Transfer of High Court Judges

Appointment and Transfer of High Court Judges Shri Justice Vivek Kumar Birla, Shri Justice Attau Rahman Masoodi, Shri Justice Ashwani Kumar Mishra, Shri Justice Rajan Roy, Smt. Justice Ranjana Pandya, Smt. Justice Vijay Lakshmi, Shri Justice Arvind Kumar Mishra-I, Shri Justice Anant Kumar, Shri Justice Harsh Kumar, Shri Justice Shashi Kant, Shri Justice Om Prakash-VII… Read More »

New Chief Justice of Gujarat High Court

New Chief Justice of Gujarat High Court Shri Justice Ramayyagari Subhash Reddy, Judge of the High Court of Judicature at Hyderabad for the State of Telangana and the State of Andhra Pradesh has been appointed Chief Justice of the Gujarat high Court with effect from the date he assumes charge of his office Source Ministry of… Read More »

One Rank One Pension implementation tables issued

One Rank One Pension (OROP) implementation tables issued The Government of India had taken the historic decision to implement OROP in November, 2015. This fulfilled the long standing demand of the Defence Forces personnel after 42 years and benefited over 18 lakh ex-servicemen and war widows. In pursuance of the order issued on 07/11/2015, detailed… Read More »

Govt approves JV with state for rail infrastructure projects

Cabinet approves formation of Joint Venture Companies with State Governments to mobilize resources for undertaking various rail infrastructure projects in the State The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval for allowing the Ministry of Railways to form Joint Venture Companies with the State Governments to mobilize… Read More »

Govt approved coal linkages/LoAs for non-regulated sector

Auction of linkages of Non-Regulated Sector The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval that all allocations of linkages/Letter of Assurance (LoAs) for non-regulated sector viz. Cement, Steel/Sponge Iron, Aluminium, and Others [excluding Fertilizer (urea) sector], including their CPPs, shall henceforth be auction based.   The… Read More »

Govt Increased Minimum Support Price for Copra

MSP for Copra for 2016 season The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for the Minimum Support Prices (MSPs) for Copra for 2016 season. The decision is based on recommendations of Commission for Agricultural Costs and Prices (CACP). CACP, which is an expert body,… Read More »

RBI announces Regulatory Relaxations for Startups

In paragraph 14 of the Sixth Bi-monthly Monetary Policy Statement for 2015-16 released today, the Governor highlighted the steps being taken by the Reserve Bank of India, in keeping with the Government’s initiatives to promote the ease of doing business and contribute to an eco-system conducive for growth of entrepreneurship, particularly in respect of the… Read More »

Govt setups Tax Policy Research Unit and Tax Policy Council

Government sets-up Tax Policy Research Unit and Tax Policy Council to bring consistency, multidisciplinary inputs, and coherence in Tax Policy        The Tax Administration Reform Commission (TARC) have in their First Report, identified handling of tax policy and related legislation as one of the areas which needs structural modifications. Observing that currently, this is handled… Read More »

CVD on vessels imported by ship breaking units : CBEC issued Circular

Circular No.-1014/2/2016-CX Dated the 1st February, 2016 F. No. 6/14/2014-CX.I (Pt.) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Custom *********** New Delhi, dated the 1st February, 2016 To Principal Chief Commissioner/ Chief Commissioner / Principal Commissioner of Central Excise and Customs (All) Web-master,CBEC Madam/Sir, Subject: Inclusion of show… Read More »

RBI Keeps Repo Rate and CRR unchanged

Source Reserve Bank of India Date : Feb 02, 2016 Sixth Bi-monthly Monetary Policy Statement, 2015-16 By Dr. Raghuram G. Rajan, Governor Monetary and Liquidity Measures On the basis of an assessment of the current and evolving macroeconomic situation, it has been decided to: keep the policy repo rate under the liquidity adjustment facility (LAF)… Read More »

1.15 Crore Subscribers for National Pension System

1.15 Crore Subscribers for National Pension System (NPS) as on 23.1.2016 National Pension System (NPS) had 11,459,555 subscribers with a total corpus of Rs. 90, 327 crore as on 23rd January, 2016. The total Assets under Management are worth Rs. 109,140 crore while Assets under Management per subscriber is Rs. 95,000 on an average. The… Read More »

FAQ’s on Jeevan Pramaan or Digital Life certificate

What is Jeevan Pramaan? Jeevan Pramaan is computer generated digital life certificate for pensioner. Jeevan Pramaan Certificate is produced for individual pensioner using his Biometric Credentials. How is this different from traditional Life Certificate issued by Govt Officers/ Agencies? For this certificate individual pensioner has not to present himself/ herself in front of seniors authorised… Read More »

Jeevan Pramaan , Pensioner can now digitally provide Annual Life Certificate

Jeevan Pramaan- A Hit With Pensioners Jeevan Pramaan (https://jeevanpramaan.gov.in/) provides a big relief to all pensioners. A pensioner can now digitally provide Annual Life Certificate to the authorities for continuity of pension instead of presenting himself physically or through a Life Certificate issued by specified authorities every year. Lakhs of pensioners on various schemes are… Read More »

RBI to issue of ₹ 100 banknotes with inset letter ‘R’

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 »

Zika Virus Disease : Guidelines of Health Ministry

Health Ministry issues guidelines on Zika Virus Disease The Ministry of Health and Family Welfare issued guidelines on the Zika virus disease, here today. The text of the guidelines is as follows. Background Zika virus disease is an emerging viral disease transmitted through the bite of an infected Aedes mosquito. This is the same mosquito… Read More »