Category Archives: News

There is no Shortage of Cash with RBI : Govt

By | April 17, 2018

Ministry of Finance Government reviews the currency circulation in the country Government and RBI have taken all steps to meet unusual demand of the currency Adequate reserves of currency to meet the rising demands Non Functional ATMS to be normalized soon Posted On: 17 APR 2018 1:41PM by PIB Delhi There are reports of cash… Read More »

Electoral Bonds : Govt clarifies in-built security features

By | April 17, 2018

Ministry of Finance Government clarifies the in-built security features of the Electoral Bonds Random Serial Number, invisible to the naked eye, present on the Bond not linked to any party transaction or cannot be used for tracking the transactions SBI does not share the serial number with anybody, including the Government and users Posted On:… Read More »

Interest rates for Small Savings Schemes for Q1 FY 2018-19 (01.04.2018 to 30.06.2018)

By | April 13, 2018

RBI/2017-18/160 DGBA.GBD. 2573/15.02.005/2017-18 April 12, 2018 The Chairman/Chief Executive Officer Agency Banks handling Small Saving Schemes Dear Sir Interest rates for Small Savings Schemes Please refer to our circular DGBA.GBD.1781/15.02.005/2017-18 dated January 11, 2018 on the above subject. The Government of India, has vide their Office Memorandum (OM) No.F.No.01/04/2016–NS dated March 28, 2018 has stated that the… Read More »

Law Commission gives 30 more days for response on Uniform Civil Code

By | April 13, 2018

Ministry Of Law & Justice Law Commission gives 30 more days for response on Uniform Civil Code Posted On: 12 APR 2018 4:05PM by PIB Delhi The Law Commission of India is examining the subject matter of Uniform Civil Code. The Commission requested the individuals / organisations (governmental and non-governmental) to send their submissions in… Read More »

Empanel as Resource Person to Conduct Various Programmes for Benefits of Members in Industry

By | April 8, 2018

Madam/Sir, We are pleased to share with you that the Institute of Chartered Accountants of India through its Committee for Professional Accountants in Business & Industry organizes various knowledge enriching programmes, Conferences, Industry Meet, Outreach Program for the benefit of the members in industry. The Committee invites proposals from Chartered Accountants, Bankers, Capital Market experts,… Read More »

Section 144 of Finance Act 2018 : Amendment of section 8A

By | April 1, 2018

Section 144 of Finance Act 2018 [Section 144 of Finance Act 2018 deals with Amendment of section 8A and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 8A 144. In the principal Act, in section 8A, in sub-section (1),— (a) for the words “twenty thousand rupees”, the words “twenty-five thousand rupees” shall be substituted; (b) in the… Read More »

Section 145 of Finance Act 2018 : Amendment of section 8AC

By | April 1, 2018

Section 145 of Finance Act 2018 [Section 145 of Finance Act 2018 deals with Amendment of section 8AC and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 8AC 145. In the principal Act, in section 8AC, in sub-section (2), the words, brackets and figures “before the commencement of the Salary, Allowances and Pension of Members of Parliament… Read More »

Section 143 of Finance Act 2018 : Amendment of section 4

By | April 1, 2018

Section 143 of Finance Act 2018 [Section 143 of Finance Act 2018 deals with Amendment of section 4 and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 4 143. In the principal Act, in section 4, in sub-section (1),— (i) clause (a) shall be omitted; (ii) in clause (b), the words “and one-fourth of the” shall be… Read More »

Section 141 of Finance Act 2018 : Commencement of this Part

By | April 1, 2018

Section 141 of Finance Act 2018 [Section 141 of Finance Act 2018 deals with Amendment of section 3 of Act 20 of 1953 and is covered in CHAPTER VIII MISCELLANEOUS] PART V AMENDMENTS TO THE SALARY, ALLOWANCES AND PENSION OF MEMBERS OF PARLIAMENT ACT, 1954 Commencement of this Part 141. Save as otherwise provided, the provisions of this… Read More »

Section 140 of Finance Act 2018 : Amendment of section 3 of Act 20 of 1953

By | April 1, 2018

Section 140 of Finance Act 2018 [Section 140 of Finance Act 2018 deals with Amendment of section 3 of Act 20 of 1953 and is covered in CHAPTER VIII MISCELLANEOUS] PART IV AMENDMENT TO THE SALARIES AND ALLOWANCES OF OFFICERS OF PARLIAMENT ACT, 1953 Amendment of section 3 of Act 20 of 1953 140. In the Salaries and… Read More »

Section 139 of Finance Act 2018 : Amendment of section 3A

By | April 1, 2018

Section 139 of Finance Act 2018 [Section 139 of Finance Act 2018 deals with Amendment of section 3A and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 3A 139. In section 3A of the principal Act, in clause (b), in sub-clause (ii), for the words “twelve thousand rupees”, the words “twenty thousand rupees” shall be substituted. Finance… Read More »

Section 138 of Finance Act 2018 : Amendment of section 2

By | April 1, 2018

Section 138 of Finance Act 2018 [Section 138 of Finance Act 2018 deals with Amendment of section 2 and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 2 138. In section 2 of the principal Act, in sub-section (2), in clause (b), for the words “sixty thousand rupees”, the words “one lakh rupees” shall be substituted. Finance… Read More »

Section 137 of Finance Act 2018 : Amendment of section 1A

By | April 1, 2018

Section 137 of Finance Act 2018 [Section 137 of Finance Act 2018 deals with Amendment of section 1A and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 1A 137. In section 1A of the President’s Emoluments and Pension Act, 1951 (30 of 1951) (hereafter referred to as the principal Act in this Part), for the words “one… Read More »

Section 136 of Finance Act 2018 : Commencement of this Part

By | April 1, 2018

Section 136 of Finance Act 2018 [Section 136 of Finance Act 2018 deals with Commencement of this Part and is covered in CHAPTER VIII MISCELLANEOUS] PART III AMENDMENTS TO THE P RESIDENT’S EMOLUMENTS AND PENSION ACT , 1951 Commencement of this Part 136. Save as otherwise provided, the provisions of this Part shall come into force on the… Read More »

Section 134 of Finance Act 2018 : Insertion of new section and Schedule

By | April 1, 2018

Section 134 of Finance Act 2018 [Section 134 of Finance Act 2018 deals with Insertion of new section and Schedule and is covered in CHAPTER VIII MISCELLANEOUS] Insertion of new section and Schedule 134. After section 15 of the principal Act, the following shall be inserted, namely:— “16. Repeal and savings.—(1) The Government Savings Certificates Act, 1959 (46 of… Read More »

Section 133 of Finance Act 2018 : Amendment of section 15

By | April 1, 2018

Section 133 of Finance Act 2018 [Section 133 of Finance Act 2018 deals with Amendment of section 15 and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 15 133. In section 15 of the principal Act, in sub-section (2),— (i) clause (a) shall be omitted; (ii) for clause (b), the following clause shall be substituted, namely:— ”… Read More »

Section 132 of Finance Act 2018 : Insertion of new section 14A

By | April 1, 2018

Section 132 of Finance Act 2018 [Section 132 of Finance Act 2018 deals with Insertion of new section 14A and is covered in CHAPTER VIII MISCELLANEOUS] Insertion of new section 14A 132. After section 14 of the principal Act, the following section shall be inserted, namely:— “14A. Protection against attachment.—The amount standing to the credit of any depositor in… Read More »

Section 184 of Finance Act 2018 : Amendment of section 15-I

By | April 1, 2018

Section 184 of Finance Act 2018 [Section 184 of Finance Act 2018 deals with Amendment of section 15-I and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 15-I 184. In the principal Act, in section 15-I, in sub-section (1),— (i) after the figures and letter “15E,”, the figures and letters “15EA, 15EB,” shall be inserted; (ii) for… Read More »

Section 154 of Finance Act 2018 : Amendment of section 23J

By | April 1, 2018

Section 154 of Finance Act 2018 [Section 154 of Finance Act 2018 deals with Amendment of section 23J and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 23J 154. In section 23J of the principal Act,— (i) for the marginal heading, the following marginal heading shall be substituted, namely:— “Factors to be taken into account while adjudging… Read More »

Section 149 of Finance Act 2018 : Amendment of section 23A

By | April 1, 2018

Section 149 of Finance Act 2018 [Section 149 of Finance Act 2018 deals with Amendment of section 23A and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 23A 149. In section 23A of the principal Act, in sub-clause (a), after the words “bye-laws of the recognised stock exchange”, the words “or who furnishes false, incorrect or incomplete… Read More »

Section 119 of Finance Act 2018 : Amendment of section 4

By | April 1, 2018

Section 119 of Finance Act 2018 [Section 119 of Finance Act 2018 deals with Amendment of section 4 and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 4 119. In section 4 of the principal Act,— (a) for sub-section (1), the following sub-section shall be substituted, namely:— “(1) The depositors shall designate one or more individuals, as… Read More »

No need to submit original certificate at the time of College Admissions

By | March 28, 2018

Ministry of Human Resource Development No need to submit original certificate at the time of College Admissions Posted On: 27 MAR 2018 5:23PM by PIB Delhi The University Grants Commission had issued a notification dated 6th December, 2016 on “Remittance and Refund of Fees and other Student Centric Issues” wherein Vice-Chancellors of all Universities were requested… Read More »

Relaxation of Norms for NPS -National Pension Scheme

By | March 24, 2018

Ministry of Finance Relaxation of Norms for NPS Posted On: 23 MAR 2018 5:42PM by PIB Delhi The Government of India has recently made three changes in the National Pension Scheme (NPS) including withdrawal norms. The details are as under:   Partial withdrawal during the service: The Pension Fund Regulatory and Development Authority (PFRDA), with… Read More »

31.20 crore accounts opened under PMJDY with deposits of Rs. 75,572.09 crore

By | March 23, 2018

Ministry of Finance 31.20 crore accounts opened under Pradhan Mantri Jan-Dhan Yojana (PMJDY) with aggregate deposit balances Rs. 75,572.09 crore as on 28.2.2018. Posted On: 22 MAR 2018 4:49PM by PIB Delhi As informed by banks, as on 28.2.2018, 31.20 crore accounts have been opened under Pradhan Mantri Jan-Dhan Yojana (PMJDY) with aggregate deposit balances… Read More »

Amendments to be made in Surrogacy (Regulation) Bill 2016

By | March 22, 2018

Cabinet Cabinet approves moving official amendments in the “Surrogacy (Regulation) Bill, 2016” Posted On: 21 MAR 2018 8:24PM by PIB Delhi The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval formovingofficial amendments in the “Surrogacy (Regulation) Bill, 2016”. The Surrogacy (Regulation) Bill, 2016 proposes to regulate surrogacy in India by… Read More »

 Cashless Ticket Booking In Railways

By | March 15, 2018

Ministry of Railways  Cashless Ticket Booking In Railways Posted On: 14 MAR 2018 5:24PM by PIB Delhi Following schemes have been introduced for promotion of cashless transaction on Indian Railways:- i. The facility of online booking of reserved tickets has been provided through Indian Railway Catering and Tourism Corporation (IRCTC) website. The payment for tickets… Read More »

Discontinuation of pasting of reservation chart by Railways

By | March 15, 2018

Ministry of Railways    Discontinuation of pasting of reservation chart Posted On: 14 MAR 2018 5:22PM by PIB Delhi Based on a similar successful experiment conducted by South Western Railway, the practice of pasting of reservation charts on train coaches was discontinued at New Delhi, Hazrat Nizamuddin, Bombay Central, Chennai Central, Howrah and Sealdah stations… Read More »

The Chit Funds (Amendment) Bill 2018 : Download ( as Introduced in Lok Sabha)

By | March 14, 2018

The Chit Funds (Amendment) Bill 2018 STATEMENT OF OBJECTS AND REASONS The Chit Funds Act, 1982 was enacted to provide for the regulation of chit funds which are indigenous business in India and have conventionally satisfied the financial needs of the low-income households. The chit is a mechanism which combines credit and savings in a… Read More »

Foreign law firms/ lawyers can not practice in India : Supreme Court

By | March 13, 2018

SUPREME COURT OF INDIA Bar Council of India v. A.K. Balaji & Ors. ADARSH KUMAR GOEL AND UDAY UMESH LALIT, JJ. CIVIL APPEAL NOS.7170, 7875-7879 AND 8028 OF 2015 MARCH  13, 2018 JUDGMENT Adarsh Kumar Goel, J. – The issue involved in this batch of matters is whether foreign law firms/lawyers are permitted to practice in India. Reference… Read More »

FAQs on ICSI New Syllabus

By | March 10, 2018

FAQs on ICSI New Syllabus (2017)* (* The answers to some of the questions are interlinked to each another. This document to be read in totality.) Queries related to Academics Q1. Why this New Syllabus? A1. The only constant thing in the world is ‘change’ and it is insidious, i.e., be it political, economic, social,… Read More »

Govt Proposed to merge PPF and Government Savings Certificates with Government Savings Banks Act,

By | March 9, 2018

Ministry of Finance Public Provident Fund (PPF) account Posted On: 09 MAR 2018 5:58PM by PIB Delhi At present, premature closure of a Public Provident Fund (PPF) account is permitted on specified grounds on completion of five financial years from the date of opening of account. Opening of accounts in the name of a minor… Read More »

How to File Trademark Application

By | March 9, 2018

Trademark What is a Trademark? A Trademark generally refers to a “brand” or “logo”. Trademark registration can also be obtained for a business name, distinctive catch phrases, taglines or captions. Importance of Trademark:  Trademarks are an effective communication tool. In a single brand or logo, trademarks can convey intellectual and emotional attributes and messages about… Read More »

Cabinet approves 2% Dearness Allowance to Central Government employees 

By | March 8, 2018

Ministry of Finance Cabinet approves two percent Dearness Allowance to Central Government employees Posted On: 07 MAR 2018 7:33PM by PIB Delhi The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval to release an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensionersw.e.f.… Read More »

Cabinet approves Commercial Courts, Commercial Division & Commercial Division of High Courts (Amendment) Bill, 2018 

By | March 8, 2018

Cabinet Cabinet approves the Commercial Courts, Commercial Division and Commercial Division of High Courts (Amendment) Bill, 2018 Posted On: 07 MAR 2018 7:19PM by PIB Delhi The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts (Amendment) Bill, 2018 for introduction… Read More »

Govt approved Arbitration and Conciliation (Amendment) Bill 2018

By | March 8, 2018

Cabinet Cabinet approves the Arbitration and Conciliation (Amendment) Bill, 2018 Posted On: 07 MAR 2018 7:22PM by PIB Delhi The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the Arbitration and Conciliation (Amendment) Bill, 2018 for introduction in the Parliament. It is a part of the efforts of the Government to encourage… Read More »

Pradhan Mantri Mudra Yojana (PMMY) Progress

By | March 7, 2018

Ministry of Finance Pradhan Mantri Mudra Yojana (PMMY) Posted On: 06 MAR 2018 6:04PM by PIB Delhi Pradhan Mantri Mudra Yojana (PMMY) is being implemented in all the States/Union Territories across the country. Details of number of loans and amount sanctioned under PMMY for 2015-16, 2016-17 and 2017-18 (as on 23.02.2018) is at Annexure. Since the launch… Read More »

Be aware of Virtual Currencies and Bitcoin : Indian Govt Advisory

By | December 30, 2017

Ministry of Finance Government Cautions People Against Risks in Investing in Virtual ‘Currencies’; Says VCs are like Ponzi Schemes Posted On: 29 DEC 2017 9:55AM by PIB Delhi The Ministry of Finance has issued the following statement today on Virtual ‘Currencies’. “There has been a phenomenal increase in recent times in the price of Virtual… Read More »

Linking of Jan Dhan Accounts with Aadhaar : Govt saved Rs 57,029 crore

By | December 30, 2017

Ministry of Finance Linking of Jan Dhan Accounts with Aadhaar Posted On: 29 DEC 2017 5:10PM by PIB Delhi Linking of Aadhaar in bank accounts, Jan Dhan or otherwise, enables Ministries/Departments under Centre and State governments to transfer subsidy directly into the bank account of the beneficiaries using the Aadhaar Payment Bridge. However, beneficiaries not… Read More »

special package for employment generation in leather and footwear sector approved by Govt

By | December 16, 2017

Cabinet approves special package for employment generation in leather and footwear sector  The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the special package for employment generation in leather and    footwear sector. The package involves implementation of Central Sector Scheme “Indian Footwear, Leather & Accessories Development Programme” with an approved expenditure of… Read More »

Guidelines for rewards to be paid to officers, informers & other persons 2017 for seizures of Narcotics drugs, Psychotropic substances etc. 

By | December 13, 2017

Press Information Bureau Government of India Ministry of Home Affairs 12-December-2017 Government issues new guidelines for grant of rewards to be paid to officers, informers and other persons in case of seizures of Narcotics drugs, Psychotropic substances etc. The Government of India  has issued new reward guidelines called “The guidelines for grant of rewards to be… Read More »