Foreign contributions are a major source of financial support for NGO activities in India. Foreign funds are flowing in through private foundations, foreign governmental agencies, and individuals for charitable causes either in the form of donations or as project funding support. The process of receiving these grants has been subjected to law ever since the…
(Article answers to the questions like whether younger coparcener can be made Karta when an elder sibling is alive, whether Daughters can also become Karta, whether the wife of the Karta can become Karta, whether there can be a HUF within a HUF, When the father was a Karta in his father’s HUF, who will…
In the second bi-monthly monetary policy statement announced on Thursday (dated 06.08.2020), MPC decided to keep policy REPO rate under the liquidity adjustment facility (LAF) unchanged at 4.25 per cent. The MPC also decided to continue with the accommodative stance as long as it is necessary to revive growth, while ensuring that inflation remains within…
In the second bi-monthly monetary policy statement announced on Thursday (dated 06.08.2020), The RBI Governor said that while he is outlining the following main measures, the Statement on Developmental and Regulatory Measures which addresses them in greater detail. 1. Additional Special Liquidity Facility (ASLF) Governor announced additional special liquidity facility of ₹10,000 crore will be…
[One can seek information under RTI Act- 2005 from any Public Authority (government organization or government aided organization). Application can be made through online platform or on a plain sheet of paper (handwritten or typed)]. Right to Information (RTI) Acts 2005, popularly known as RTI Act under which any citizen of India may request information…
Today (July 24), in its 21st issue of the Financial Stability Report (FSR), the Reserve Bank said that their assessment made by Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability reflects a combination of fiscal, monetary and regulatory interventions on an unprecedented scale has ensured normal functioning of financial…
Effective from 20 July 2020, the Consumer Protection Act, 2019 which replaces the more than three decades old Consumer Protection Act, 1986. The new Consumer Protection Act 2019 seeks to revamp the process of administration and settlement of consumer disputes, with strict penalties, including jail term for adulteration and misleading ads by firms. Among other…
Updated till 24.01.2020: Section 17 to Section 19 of the 2016 Act have been notified on December 26, 2019, by the Ministry of Finance in the official gazette (“SARFAESI Amendments”) and come into effect from January 24, 2020. In accordance with Sections 17 to Section 19 of 2016, inter alia Section 23 has been amended…
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002(SARFAESI Act 2002) provide for Enforcement of Security Interest for the realization of the dues without the intervention of Courts or Tribunals for recovery of NPAs by banks under various laws. In 2016 NBFC is included under the definition of the financial institution through…
Q: Which are the banks authorised to exchange notes coins? R: All the bank branches in entire India are mandated to provide facility for exchange of notes and coins to the members of public. Banks are also directed by the banking regulator (RBI) to issue fresh/good quality notes and coins of all denominations whenever customers…