The Sikhs, Muslims, Christians, Zoroastrians, Buddhists, Jains communities in India are classified as minority communities as per notification of Ministry of Welfare, Government of India. In 121 districts in the country, the minority population exceeds 25% of total population of the districts. Further, in the states of J & K, Punjab, Meghalaya, Mizoram, Nagaland and…
[Government’s support to women SHGs in rural area under Deenadayal Anthyodaya Yojana- National Rural livelihoods Mission DAY-NRLM – (Corpus from Revolving Fund, ‘Panchasutra of good SHGs, CIF loan, the maximum amount of loan, repayment schedule, margin and security for the Bank loans)] Who can form SHG under DAY-NRLM? Women Self Help Group (SHG) under DAY-NRLM is the…
The Central Board of Excise & Customs has amended the rules for purchase of goods from duty-free shops. The Government of India communication dated July 8, 2016, states that the Indian currency limit is increased purchase limit from Rs.5000/- to Rs.25000/- at duty-free shops. The above revision is in order to avoid paying excessive exchange…
[This article offers process of credit facilities to film industry under cash budget & Line of credits (LOCs)] The feature film production involves buying script, evolving screenplays, dialogs, scouting site location, film shooting, music recording, lab processing and post-production activities such as editing, dubbing, re-recording, mixing, taking final prints, obtaining censor clearance and release of…
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) Scheme, which is administered by LIC, offers life insurance cover worth Rs 2 lakhs to all the bank SB account holders between 18 to 50 years of age at a premium of Rs 330 per annum. Settlement of Claim The nominee has to approach the Bank where the…
(This article elucidates comprehensively about S4A (‘Scheme for Sustainable Structuring of Stressed Assets’) to tackle the problem loans of large projects. The article also covers S4A- post resolution, with regard to management issues, Asset Classification, and Provisioning) The newly announced ‘Scheme for Sustainable Structuring of Stressed Assets’ (S4A) by RBI is outlined to tackle the…
The interest rates for small savings schemes for the quarter July 2016 to September 2016 kept unchanged, as per announcement of the Government (finance ministry). Accordingly, the interest rates for the investments in the small savings schemes remain the same as in the previous quarter. The details of the interest rate applicable on various small saving…
The Government of India introduced major changes in FDI policy on Monday, Jun 20, 2016, bringing most sectors and activities under the automatic approval route. The changes introduced now simplifies the regulations governing foreign investments, and increase sectoral caps with a small negative list. These amendments are the second sweeping changes in FDI policy after…
(The importance of FDI is explained in this article in questions and answers format. The questions are like What way FDI is useful to domestic economy?, Why overseas entities invest in other countries?, Why India attracts FDI?, Why shop-keepers, businessmen and some political parties in India oppose FDI?, Is there any restriction for FDI?, What…
In a leading move to the consolidation of struggling public sector banks, Union Cabinet today (15th Jun 2016) has approved take over of State Bank of Bikaner and Jaipur, State Bank of Hyderabad , State Bank of Mysore and State Bank of Travancore by State Bank of India. The Government sources said that the above move is…