eMinds Legal Advocates & Solicitors
eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.
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EPFO shows much better improvement
The number of contributing members to Employee Provident Fund Organisation (EPFO) has crossed 4.00 crore as on 17.08.2013. Similarly, number of establishments covered under EPF & MP Act, who are contributing and filing their return through electronic system has increased to 4 lakh. EPFO also distributed pension to more than 44 lakh pensioners during July,… Read More
Auction for Sale (Re-Issue) of 1.44% Inflation Indexed Government Stock 2023
Government of India have announced the sale (re-issue) of 1.44% Inflation Indexed Government Stock-2023 for a notified amount of Rs.1,000 crore (nominal) through price based auction. The auction will be conducted using uniform price method. The auction will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on August 27, 2013 (Tuesday). Up to 20% of the notified amount of the sale… Read More
Guidelines for Education Loans
Education Loans are disbursed by Banks as per Model Education Loan Scheme of Indian Bank Association (IBA). Reserve Bank of India (RBI) has deregulated the interest rates charged by Banks, linking up with their base rates. The interest rate on education loan accordingly varies depending upon the base rate and the quantum of loan. The… Read More
Complaints Against CIBIL
Cases of providing inaccurate Credit Information Reports by CIBIL are reported to the Reserve Bank of India (RBI). The Credit Information Companies (Regulation) Act, 2005 (CIC Act), under which CIBIL functions, has a provision for alterations/corrections or updation of credit information on borrower/client™s request. The prescribed procedures are followed by Credit Information Companies for updation… Read More
Interest Subvention Scheme Extended to the Private Sector Banks from 2013-14
Additional Interest Subvention Scheme of 3% for Farmers also Extended to 2013-14 In order to provide credit to farmers at affordable rates, the Government of India has, since 2006-07, been implementing the Interest Subvention Scheme under which short-term crop loans upto Rs. 3 lakh are made available to the farmers at an interest rate of… Read More
Penetration of Life Insurance Coverage Goes Up
The penetration of life insurance sector in India has increased from 2.15% in 2001 to 3.17% in 2012 which is above Brazil, Russia, Malaysia, Pakistan, China, Srilanka, Australia, Germany but below France, Switzerland, United Kingdom, United States of America, Japan, Singapore, South Korea, Taiwan and Hong Kong. As per information furnished by Insurance Regulatory and… Read More
Food Security Bill Focuses on Nutritional Needs of Pregnant Women and Children
The Government promulgated the National Food Security Ordinance on 5.7.2013. Subsequently, the National Food Security Bill (NFSB), 2013 has been introduced in the Lok Sabha on 7.8.2013 to replace the Ordinance,. As per the Bill, 75% of the rural and 50% of the urban population, at the all India level, will be entitled to receive subsidised foodgrains under Targeted Public… Read More
Food Security Bill Proposes Doorstep Dilevery of Foodgrains and end to end Comupterisation of PDS
The Government promulgated the National Food Security Ordinance on 5.7.2013. Subsequently, the National Food Security Bill (NFSB), 2013 has been introduced in the Lok Sabha on 7.8.2013 to replace the Ordinance It provides that Central and State Governments shall endeavour to progressively undertake necessary reforms in the TPDS. These reforms inter alia include:- Doorstep delivery… Read More
National Project on Climate Resilient Agriculture
Realizing that the climate change is likely to have major impacts on agriculture, the Government through Indian Council of Agricultural Research (ICAR) has assessed the impact of climate change on Indian agriculture under different scenarios using crop simulation models. The Indian Council of Agricultural Research (ICAR) has conducted climate change impact analysis on crop yields… Read More
230 Lakh Tonne Storage Capacity to be Created under Grameen Bhandaran Yojana in XII Plan
As per Report of the Working Group on Agricultural Marketing Infrastructure, Secondary Agriculture and Policy Required for Internal and External Trade of Planning Commission, the additional warehousing facility required for the XII Five Year Plan 2012-17 is 350 lakh tonne for storing agricultural produce. Government has created warehousing and storage facilities by launching several promotional… Read More
Rs. 2000 Crores for Sub-Mission on Agricultural Mechanization for the XII Plan
In order to lay special emphasis on farm mechanization and to bring more inclusiveness, a dedicated Sub-Mission on Agricultural Mechanization for the XII Plan has been proposed with an estimated outlay of Rs.2000 crores for the entire plan period. The Sub-Mission on Agricultural Mechanization will provide assistance for Promotion and Strengthening of Agricultural Mechanization through… Read More
RBI Circular w.r.t. Adoption of Uniform Holiday Calendar under Cheque Truncation System (CTS)
RBI/2013-14/199 DPSS.CO.CHD.No./458/ 04.07.05 / 2013-14 August 23, 2013 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Local Area Banks Madam / Dear Sir Adoption of Uniform Holiday Calendar under Cheque Truncation System (CTS) Grid-based Cheque Truncation… Read More
RBI Circular w.r.t. Investment portfolio of banks Classification, Valuation and Provisioning
RBI/2013-14/198 DBOD.BP.BC.No. 41/21.04.141/2013-14 August 23, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Investment portfolio of banks Classification, Valuation and Provisioning Please refer to our Circular DBOD.No.BP.BC.92/21.04.141/2012-13 dated May 15, 2013 on ˜SLR Holdings under Held to Maturity Category™ in terms of which banks are permitted to exceed the limit of 25 per cent of total… Read More
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