Legal Updates

Cabinet approves release of additional 1% Dearness Allowance to CG employees and Dearness Relief to pensioners w.e.f. 01.07.2017

Cabinet approves release of additional 1% Dearness Allowance to Central Government employees and Dearness Relief to pensioners w.e.f. 01.07.2017  The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for release of additional 1% Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners. It will be… Read More

Govt. amends General Provident Fund (Central Service) Rules, 1960- liberalizes drawal of advance from the Fund by the subscribers

No 3/2/2017-P&PW (F)(i) Ministry of Personnel, PG & Pensions Department of Pension & Pensioners' Welfare Desk-F 3rd Floor, Lok Nayak Bhavan, Khan Market, New Delhi-110003 Dated 7th March, 2017 OFFICE MEMORANDUM Subject:Amendment to the provisions of General Provident Fund (Central Service) Rules, 1960- liberalization of provisions for drawal of advance from the Fund by the… Read More

CBEC invites suggestions on Draft ‘Expenditure Budget Manual, 2017 by 15.09.2017

Government of India Directorate General of Human Resource Development Customs & Central Excise Plot No.C-4 (West Wing) Ground Floor, IRCON Building District Centre, Saket, New Delhi-1210017   D.O.F. No. 8/B/10(136) HRD (EMC)/2017     6Th September, 2017   Dear Sub: Draft ‘Expenditure Budget Manual, 2017’-reg This is to inform you that the draft of first Edition of… Read More

Direct Tax Collections up-to August, 2017 in 2017-18 show Growth of 17.5%

Direct Tax Collections up-to August, 2017 in the current Financial Year 2017-18 show Growth of 17.5%  The Direct Tax collections up to August, 2017 in the current Financial Year 2017-18 continue to register a steady growth. Direct Tax collections, net of refunds, stands at Rs. 2.24 lakh crore which is 17.5% higher than the net collections for… Read More

RBI says it uses sophisticated machines for processing currency notes

It has been reported in a section of the press, quoting a reply to RTI application, that RBI was not using machines for counting Specified Bank Notes (SBNs). RBI actually uses sophisticated Currency Verification & Processing (CVPS) machines for checking the numerical accuracy and genuineness of the currency notes, including SBNs. These machines are way… Read More

Alteration in the name of “National Bank of Abu Dhabi PJSC” to “First Abu Dhabi Bank PJSC” in RBI Act

RBI/2017-18/53 DBR.No.Ret.BC.84/12.07.150/2017-18 September 7, 2017 All Scheduled Commercial Banks Dear Sir/Madam Alteration in the name of "National Bank of Abu Dhabi PJSC" to "First Abu Dhabi Bank PJSC" in the Second Schedule to the Reserve Bank of India Act, 1934 We advise that the name of "National Bank of Abu Dhabi PJSC" has been changed… Read More

Inclusion of “Qatar National Bank SAQ” to Schedule -II of the Reserve Bank of India Act, 1934

RBI/2017-18/52 DBR.No.Ret.BC.83/12.07.150/2017-18 September 07, 2017 All Scheduled Commercial Banks Dear Sir/Madam, Inclusion of “Qatar National Bank SAQ” in the Second Schedule to the Reserve Bank of India Act, 1934 We advise that the “Qatar National Bank SAQ” has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notification DBR.IBD.No.18/23.03.032/2017-18… Read More

Inclusion of “Ujjivan Small Finance Bank Limited” in Schedule-II of the Reserve Bank of India Act, 1934

RBI/2017-18/54 DBR.No.Ret.BC.85/12.07.150/2017-18 September 07, 2017 All Scheduled Commercial Banks Dear Sir/Madam, Inclusion of “Ujjivan Small Finance Bank Limited” in the Second Schedule to the Reserve Bank of India Act, 1934 We advise that the “Ujjivan Small Finance Bank Limited” has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide… Read More

Central government delegates power under S.66(2) of Companies Act ,2013

[To be published section (ii)l in the Gazette of India, Extra-ordinary, Part-II, Section 3- Sub setion (ii)] Ministry of Corporate Affairs  Notification New Delhi, dated the 4th September,2017 S.O. - (E).-In exercise of the powers conferred by section 458 of the Companies Act,2013(18 of 2013),the Central Government hereby delegates to the Regional Directors at Mumbai,… Read More

CBEC notifies Exchange Rate of Foreign Currency w.e.f. 8th September,2017

Exchange Rate of Foreign Currency Relating To Imported and Export Goods Notified  In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.81/2017-CUSTOMS (N.T.), dated  17th August, 2017, except as respects things done or omitted to be done… Read More

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