Category Archives: Finance

Subscrie digitally Atal Pension Yojana

Atal Pension Yojana (APY) can now be subscribed digitally; eNPS Channel (“APY@eNPS) involves complete digital enrolment process Pension Fund Regulatory and Development Authority (PFRDA) has now introduced “APY@eNPS” which involves a complete digital enrolment process. This is the latest in the series of various initiatives taken by PFRDA for expansion of outreach of Atal Pension… Read More »

Financial Resolution & Deposit Insurance Bill 2017 – Govt approves introduction

Cabinet approves proposal to introduce the Financial Resolution and Deposit Insurance Bill 2017 The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the proposal to introduce a Financial Resolution and Deposit Insurance Bill, 2017. The Bill would provide for a comprehensive resolution framework for specified financial sector entities to deal with… Read More »

Aadhaar mandatory for Atal Pension Yojana

Atal Pension Yojana (APY) included under Section 7 of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act 2016; APY currently has more than 54 lacs subscribers with an asset base of more than Rs. 2,200 crores. With an objective of bringing in transparency, efficiency and to enable beneficiaries to get… Read More »

New Functionalities released under National Pension System (NPS)

New Functionalities released under NPS to provide the ease of operation for the benefit of subscribers and nodal offices. Pension Fund Regulatory and Development Authority (PFRDA) takes various initiatives from time to time in order to simplify and improve the operational issues in National Pension System (NPS) like new functionality development under NPS architecture, simplification… Read More »

Handbook on Project Reports by R.K.Garg – 8th Edition 2017

Handbook on Project Reports – 2017  by R.K.Garg (Author) About Handbook on PROJECT REPORTS PART I Chapter 1        Project and Environmental Analysis — Some Basic Points Chapter 2        Capital Project — Definition, Characteristics Chapter 3        Capital Projects — Opportunities, Classification, Benefits Chapter 4        Capital Project Cycle, Stages in Project Execution PART II Chapter 5        Detailed… Read More »

e-SOT and e-PRAN card launched for Atal Pension Yojana subscribers

Online Statement Of Transaction (e-SOT) and the e-PRAN card launched for Atal Pension Yojana (APY) subscribers; More than 45 lacs subscribers to be benefitted. With a view to digitally empower the Atal Pension Yojana (APY) subscribers and improve the quality of service, the facility of online viewing of the statement of transaction(e-SOT) and also the… Read More »

Exchange Rate of Foreign Currency w.e.f 21.04.2017

Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.33/2017-CUSTOMS (N.T.), dated 6th April, 2017, except as respects things done or… Read More »

Guide to Housing Finance – 2017 Edition Book

Guide to Housing Finance – A Comprehensive and Analytical Commentary on Mortgage Lending  by Vinod Kothari  Guide to Housing Finance is a comprehensive treatise on housing finance and mortgage lending covering all aspects related to it. It examines the legal and regulatory framework governing housing finance in the context of related aspects of basic features… Read More »

Statutory Guide for NBFCs -2017 Edition Book -Taxmann

Statutory Guide for NBFCs with Law Relating to Securitisation and Reconstruction of Financial Assets (21st Edition 2017) by Taxmann  Also Incorporating Non-Banking Financial Companies Acceptance of public Deposits(Reserve Bank) Directions 2016 Non-Banking Financial Company- Systemically Important Non-Deposit Taking Company and Deposit Taking Company (Reserve Bank) Directions 2016 Non-Banking Financial Company-Non-Systemically Important Non-Deposit Taking Company(Reserve Bank) Directions… Read More »

Investing in Stock Markets -Book- Generic Elective in Commerce (CBCS) (January 2017 Edition)

Investing in Stock Markets – Generic Elective in Commerce (CBCS) (January 2017 Edition) A Comprehensive, Authentic and well Illustrated book on”Investing in Stock Markets” Paper for Ability Enhancement Elective Course (AEEC) of B.Com. & Generic Elective in Commerce [Three Years (6-Semester)CBCS Programme of Central Universities Throughout India] Simple and lucid presentation of the concepts, procedures… Read More »

Compliance in Banks (2nd Edition 2017) -useful Book for Bank Audit / Banking Students

Compliance in Banks (2nd Edition 2017) by  INDIAN INSTITUTE OF BANKING & FINANCE Bank regulations subject banks to certain guidelines, stipulations, and restrictions in their day to day operations. This regulatory structure creates transparency between banking institutions and the individuals and corporations with whom they conduct business, among other things. Given the inter-connectedness of the banking… Read More »

Handbook on Debt Recovery (2nd Edition 2017) Book

Handbook on Debt Recovery (2nd Edition 2017) by : INDIAN INSTITUTE OF BANKING & FINANCE Retail lending forms an important component in the asset portfolios of banks. As commercial banks shifted their focus from traditional need-based lending to a broad- based portfolio, retail lending became a mainstream business. There has been a good growth in consumer loans,… Read More »

Treasury,Investment and Risk Management (2nd Edition 2017) Book by Taxmann

Treasury,Investment and Risk Management (2nd Edition 2017) by Taxmann This book on Treasury, Investment & Risk Management covers the key strategies of treasury management and a holistic understanding of treasury and risk management concepts and the logic that underpin financial instruments and derivatives. The subject has assumed an increasingly greater importance with the globalisation of Indian… Read More »

Conversion of Kisan Credit Cards into Rupay Cards

Conversion of Kisan Credit Cards into Rupay Cards Under revised Kisan Credit Card (KCC) Scheme issued by Reserve Bank of India (RBI) and National Bank for Agriculture and Rural Development (NABARD), withdrawal through ATM/Debit Cards has been allowed as one of the delivery channels for the drawal of the drawing limit for the current season/year.… Read More »

Speedy Recovery of Non-Performing Assets (NPAs) of Public Sector Banks

Speedy Recovery of Non-Performing Assets (NPAs) of Public Sector Banks (PSBs) Non-Performing Assets (NPAs) of Public Sector Banks (PSBs) as on September, 2016 stands at Rs.5,89,502 Crore (11.82%). During FY 2015 and FY 2016 PSBs made total NPA recoveries of Rs.42,542 Crore and Rs.39,986 Crore, respectively. The bank-wise details of recovery of NPAs due to… Read More »

Indian economy is estimated to grow at 7.1% in 2016-17

First Advance Estimates released by the Central Statistics Office (CSO), the economy is estimated to grow at 7.1 per cent in 2016-17, as compared to the growth of 7.9 per cent achieved in 2015-16 As per the First Advance Estimates released by the Central Statistics Office (CSO), the economy is estimated to grow at 7.1… Read More »

New Benefits for National Pension System Subscribers in Union Budget 2017-18

New Benefits announced for NPS Subscribers in Union Budget 2017-18 In a bid to provide further impetus to the National Pension System (NPS), the following provisions have been introduced in the Finance Bill 2017 laid down in the Parliament today. Tax-exemption to partial withdrawal from National Pension System (NPS) The existing provision of section 10(12A)of… Read More »

India Post Payments Bank – Saving Account charges and features

India Post Payments Bank – Saving Account charges and features IPPB – Schedule of Charges (Tariffs are excluding applicable taxes) Banking Services for Everybody: IPPB offers 3 distinct accounts, tailored to suit the requirements of people everywhere. Regular Account – Safal Basic Savings Bank Deposit Account (BSBDA) – Sugam BSBDA Small – Saral ​ While… Read More »

Disinvestment Target and Achievements during 2016-17 of Govt of India

Disinvestment Target  and Achievements during  2016-17 Government realizes Rs.21,432.38 crore, by end-November 2016, through CPSEs’ disinvestment receipts, constituting around 59.53 % of the Budgeted Target of Rs. 36,000 crore ; Government takes various steps to accelerate the disinvestment process including replacement of annual plan with rolling plans, Fast tracking of approval process and to make… Read More »

Govt of India Achievements under various Schemes including PMJDY

Achievements made under various Schemes including PMJDY Large scale achievements made under various Schemes including PMJDY; 26.03 crore accounts opened as on 21st December, 2016 under PMJDY out of which 15.86 crore accounts are in rural areas and 10.17 crore in urban areas; Deposits worth Rs. 71,557.90 crore mobilsed under the Scheme; 1,26,985 Bank Mitras… Read More »

Financial Data Management Center Committee Report

Report of the Committee to study the Financial Data Management Legal Framework in India Department of Economic Affairs Ministry of Finance October 25, 2016 Submitted to Ministry of Finance Government of India 1. Introduction 1.1 The Financial Sector Legislative Reforms Commission (FSLRC) has, inter-alia, recommended the creation of a statutory Financial Data Management Centre (FDMC),… Read More »

New Pension Scheme and Post-Retirement Medical Schemes for Employees of Food Corporation of India

Cabinet approves introduction of Pension and Post-Retirement Medical Schemes as part of superannuation benefits for Employees of Food Corporation of India The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for introduction of Pension and Post-Retirement Medical Schemes as part of superannuation benefits for Employees of Food Corporation of… Read More »

Govt Guidelines for approval of Public Funded Schemes and Projects

New forward looking Guidelines issued by Department of Expenditure, Ministry of Finance to improve the efficiency with which Public Funded Schemes and Projects are appraised and approved; In order to bring-in the concept of outcome evaluation to improve the delivery of public goods and services to the citizens. In order to build a growth friendly… Read More »

Sections 188 to 194 of Insolvency and Bankruptcy Code 2016 Comes into force w.e.f 5.08.2016.

Insolvency and Bankruptcy Code 2016 MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 5th August, 2016 S.O.2618(E).—In exercise of the powers conferred by the proviso to sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 5th of August, 2016 as the date on… Read More »

START-UP INDIA-Coverage and Eligibility

START-UP INDIA-Coverage and Eligibility             Till date 728 applications have been received in the Startup India portal. Out of them, 180 applications are complete and have been recognized as startups by Department of Industrial Policy and Promotion (DIPP). Only 16 applicants are incorporated after 1.04.2016 and are thus eligible for consideration for tax benefits,… Read More »

Foreign Investment under ‘MAKE IN INDIA’ Programme

Foreign Investment under ‘MAKE IN INDIA’ Programme               The `Make in India’ initiative was launched in September, 2014 with the aims of promoting India as an important investment destination and a global hub for manufacturing, design, and innovation. Thereafter, during the period October, 2014 to May, 2016, the FDI equity inflow has increased by… Read More »

Merger of Nationalised banks in India

Merger of Nationalised banks The guiding principle for the consolidation process of banking in India was suggested by Narasimham Committee. According to which any initiative with respect to merger of public sector banks has to come from the Boards of the banks concerned, the extant legal framework, keeping in view the synergies and benefits of… Read More »

Foreign funded NGOs

Foreign funded NGOs Government has cancelled the FCRA registration of NGOs based on the violation of provisions of FCRA, 2010. Government has taken action only in those cases where violations of FCRA have come to notice, specifically if they are reported. Ministry of External Affairs has communicated a write up containing certain views of UN… Read More »

Rs.22,915 crore allocated for Public Sector Banks

Rs.22, 915 crore allocated for the capitalization needs of Public Sector Banks during the year 2016-17 In line with the announcements made under Indradhanush and the Union Budget, Government has undertaken an exercise to assess the capitalization needs of Public Sector Banks during the year 2016-17.  The capital infusion exercise for the current year is… Read More »

New Features Released For National Pension System Subscribers

New Features Released For NPS Subscribers Pension Fund Regulatory and Development Authority (PFRDA) takes various initiatives from time to time in order to simplify and improve the operational issues in National Pension System (NPS) like new functionality development under NPS architecture, simplification of account opening, withdrawal, grievance management etc. In this regard, recently many new… Read More »

India’s Foreign Trade: June, 2016

India’s Foreign Trade: June, 2016 MERCHANDISE TRADE   EXPORTS (including re-exports) For the first time after a gap of 18 months, exports in June 2016 have recorded a positive growth of 1.27%. During June,2016 exports were valued at US$ 22572.30 million (Rs.151904.56 crore) which was 1.27 per cent higher in Dollar terms (6.72 per cent higher… Read More »

Govt approved disinvestment of 15% in NBCC

Cabinet approves disinvestment of 15% in NBCC The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has approved the disinvestment of 15% paid up equity of National Buildings Construction Corporation Limited (NBCC) out of Government of India’s 90% shareholding. It would result in estimated receipts of Rs.1,706 crore approximately to the… Read More »