Govt. keeps interest rates unchanged on small savings schemes for the third quarter starting October 1 The rate of Interest chart: Scheme Interest rate for October-December 2024 Interest rate for July – September 2024 Interest compounded Savings account 4.00% 4.00% Annual rest 1-year time deposit 6.90% 6.90% Quarterly rest 2-years’ time deposit 7.00% 7.00% Quarterly…
Banks are opening various types of customer accounts. These customer accounts may be individual’s sole accounts, joint accounts, partnership accounts, club accounts, accounts of associations, companies, Government departments, etc. While opening and maintaining accounts for different types of customers, a bank has to comply with the law application to each of them. For opening any…
A bank is a financial institution that deals with money and money-related services, such as accepting deposits and providing loans. The term “banking” as defined in Section 5 means “the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise and withdrawal by cheque, order…
The State Information Commission (SIC) was established under the provisions of the Right to Information Act (2005). It is a statutory body, thus, it is not a constitutional body. The State Information Commission is constituted by all the State Governments in India through Gazette notification. SICs will have one State Chief Information Commissioner (SCIC) and…
The Central Information Commission is a statutory body set up under the Right to Information Act in 2005 that acts upon complaints from individuals who have not been able to submit information requests to a Central Public Information Officer or State Public Information Officer due to either the officer not have been appointed, or because…
The Right to Information Act, 2005 (RTI Act) has a section that states that its provisions have an overriding effect and apply regardless of any other laws that are inconsistent with them. The RTI Act also has penalty provisions that can be imposed on public officials who do not comply with the Act. The provisions…
The Right to Information (RTI) Act, 2005 provides for two types of appeals in case of dissatisfaction with a decision made by a Central Public Information Officer (CPIO) or a First Appellate Authority (FAA): The appeal process falls under section 19 of the Act and envisages a two-step process: firstly, an appeal to the Appellate…
Article 19 (1) under which every citizen has freedom of speech and expression and has the right to know how the government works, what role it plays, what are its functions, etc. RTI Act confers the right to access information held by a Public authority . Citizens can apply to get information under RTI 2005…
Article 19 (1) under which every citizen has freedom of speech and expression and has the right to know how the government works, what role it plays, what its functions are, etc. RTI Act confers the right to access information held by a Public authority. Citizens can apply for information under RTI 2005 and a…
A “public authority” is any authority body or institution of self-government established or constituted by or under the Constitution; or by any other law made by the Parliament or a State Legislature; or by notification issued or order made by the Central Government or a State Government. The bodies owned, controlled, or substantially financed by…