Daily Archives: July 10, 2016

EDLI Scheme benefit increased

Employee benefits, Insurance The Ministry of Labour and Employment issued guidance to increase the benefits under the Employees’ Provident Fund Organisation. Read a June 2016 report [PDF 382 KB] Govt has issued  Circular : Read Circular

What is RTGS System?

RTGS System Q1. What is RTGS System? Ans. The acronym ‘RTGS’ stands for Real Time Gross Settlement, which can be defined as the continuous (real-time) settlement of funds transfers individually on an order by order basis (without netting). ‘Real Time’ means the processing of instructions at the time they are received rather than at some… Read More »

RTGS Holidays – 2016

Reserve Bank of India Department of Payment & Settlement Systems, Central Office RTGS Holidays – 2016 Sr. No. Date Day Occasion 1 January 26, 2016 Tuesday Republic Day 2 March 25, 2016 Friday Good Friday 3 April 1, 2016 Friday Annual Closing of banks 4 April 14, 2016 Thursday  Birthday of Dr. B. R. Ambedkar… Read More »

What is an Automated Teller Machine (ATM)/ White Label ATMs ?

updated on 09.06.2016 Q.1. What is an Automated Teller Machine (ATM)? Ans 1. Automated Teller Machine is a computerized machine that provides the customers of banks the facility of accessing their account for dispensing cash and to carry out other financial & non-financial transactions without the need to actually visit their bank branch. Q.2. What… Read More »

Payment of Pension to Government Pensioners ; FAQ

Scheme for Payment of Pension to Government Pensioners by Authorised Banks Updated as on June 01, 2015 The Reserve Bank of India (the Reserve Bank) oversees disbursement of pension by its agency banks in respect of all Central Government Departments and some State Governments. In the process, it receives queries/complaints from pensioners in regard to… Read More »

Draft revised Authorised Economic Operator scheme guidelines notified

India’s Central Board of Excise and Customs (CBEC) issued draft guidance for comments concerning an Authorised Economic Operator (AEO) regime. Among the benefits under the AEO programme would be a higher facilitation level; the facility of direct port delivery or entry; reduced bank guarantees; expedited investigations and dispute resolutions; paperless declarations with no supporting document… Read More »

Model GST Draft Law ;Brief Analysis

Model GST The government has released a “model” goods and services tax (GST) law. The Empowered Committee of State Finance Ministers released two drafts of the GST law along with valuation rules to be adopted under a GST regime: The Central/State Goods and Services Tax Act, 2016 Integrated Goods and Services Tax Act, 2016 With… Read More »

Atal Incubation Centres Guidelines under under Atal Innovation Mission

Atal Incubation Centres Guidelines under under Atal Innovation Mission Download  Atal Incubation Centres Guidelines Atal Innovation Mission is funding 100 Atal Incubation Centres across the country. We’re setting up sector-specific incubation centres to support start-ups. If you’re an interested academic/research institutions, private organization or individual, Apply now! Send in your applications now! DEADLINE EXTENDED: 20… Read More »

First Woman Captain of Indian Merchant Navy to receive IMO Award

Captain Radhika Menon, First Woman Captain of Indian Merchant Navy to receive IMO Award for Exceptional Bravery at Sea Captain Radhika Menon, Master of the oil products tanker Sampurna Swarajya, is to receive the 2016 International Maritime Organization Award for Exceptional Bravery at Sea for her role in the dramatic rescue of seven fishermen from… Read More »