The Finance Minister of India Mrs.Nirmala Sitharaman, in a press conference today, announced a scheme offering tax-exempt payment of leave travel concession/allowance to encourage government and private sector employees to spend more and generate demand. FM also announced that the Govt to give Rs 10,000 special festivals advance to all its employees as a one-time…
The Reserve Bank of India has today placed on its website the “’ Technology Vision for Cyber Security’ for Urban Co-operative Banks (UCBs) – 2020-2023”. The Technology Vision Document aims at enhancing the cybersecurity posture of the Urban Co-operative banking sector against evolving IT and cyber threat environment. The Central Bank laid down a set…
Today (September 10, 2020), a bench of Justices Ashok Bhushan, R Subhash Reddy and M R Shah posted the matter of extension of loan moratorium for further hearing on September 28 and said that the court expects that the government and RBI actively consider all the issues and file the affidavit and place before it…
Finance Minister Nirmala Sitharaman on Wednesday (September 09, 2020) launched doorstep banking services for public sector banks in order to facilitate hassle-free and convenient banking to Senior Citizen and those in the ‘divyang’ (differently-abled) category. The move is part of the EASE reforms to make banking easier and accessible. The salient features of new services…
Today, RBI Governor Shakti Kant Das while addressing the members of the National Council of the Confederation of Indian Industry, touched upon five such major dynamic shifts that are underway in the Indian economy. They are (i) fortunes shifting in favour of the farm sector; (ii) changing energy mix in favour of renewables; (iii) leveraging…
Q: Who is the authority to impound Counterfeit Notes? A: The Counterfeit Notes can be impounded by (i) All Banks (ii)All Treasuries and Sub-Treasuries (iii) Issue Offices of Reserve Bank of India. Q: How the Counterfeit Notes are detected? A: Currency notes tendered over the counter is examined by the cashier for authenticity through machines.…
Today (May 13, 2020), Finance Minister Nirmala Sitharaman announced the extension of due date for all income tax returns to November 30. While addressing the press she made several announcements. The highlights of the announcements are as under. The due date for all income tax returns extended up to November 30 Statutory PF contribution is…
The Home Ministry, Government of India invoked the National Disaster Management Act, 2005 (NDMA) and the Epidemic Diseases Act, 1897 (EDA) on March 24 and clamped a national lockdown for 21 days from March 25. In view of the above order of the Government, all commercial and private establishments, industrial establishments, all transport services, educational…
The labour ministry on Friday notified the special scheme wherein the government will deposit the employer’s and employee’s contribution in the Employee Provident Fund (EPF) and Employee’s Pension Scheme (EPS) for three months to tide over the impact of COVID-19 on small establishments. Under Gareeb Kalyan Yojana scheme, the central government will grant relief in…
Due to the outbreak of pandemic COVID 19 virus, the Union cabinet promulgated an ordinance to reduce the salaries, allowances, and pensions of Members of Parliament (MPs) by 30 percent for one year. According to news, Union Minister Prakash Javdekar communicated the cabinet decision in a press release. According to Mr.Javdekar’s announcement, the Cabinet also…