Others - Corporate Law Reporter

Ministry Clarification on Gratuity Pay under New Pension System

Death-cum-Retirement Gratuity is paid to Central Government employees under New PensionSystem (NPS) as it is paid under the old pension scheme. The monthly annuity under the New Pension System (NPS) is only a replacement of pension on retirement and family pension of death after retirement. The benefits of Death cum Retirement Gratuity (DCRG) and pension/family pension have… Read More

Regulatory initiatives on Insurance Coverage to Citizens

Insurance Regulatory and Development Authority has put in place regulatory initiatives, as part of its development role, for penetration of insurance amongst all sections of the society, including, rural, and social sector. Towards this purpose, the Authority has notified IRDA (Obligations of Insurers to Rural and Social Sectors) Regulations 2002, in accordance to which all… Read More

CLR Snippets | Progress on India™s first Women™s Bank

The Finance Minister in his Union Budget Speech for the year 2013-14 on February 28, 2013 announced the proposal to set up India™s first Women™s Bank as public sector bank with an initial outlay of Rs. 1,000 crore which can lend mostly to women and women-run businesses, that supports women Self Help Groups (SHGs) and… Read More

Government proposes 15% concession on investments of INR 100 crore or more on Manufacturing

The Government proposes to provide 15% concession on investment of more than Rs. 100 crore on project and automation in manufacturing sector of the country from 1st April, 2013 to 31st March, 2015. In order to encourage substantial investment in plant or machinery, the Finance Bill, 2013 proposes to insert a new section 32AC in… Read More

Exchange of Torn Currency

Reserve Bank of India (RBI) has informed that presently the facility of distribution of currency notes and coins through its counters against soiled/torn currency is being extended to the public. Bank notes and coins are distributed in exchange through counters of 19 Regional Offices of RBI and currency chest/bank branches. Public can also tender their… Read More

Government Envisages Investment of US $ 12.1 Billion in the Airport Sector

Civil Aviation Minister, Shri Ajit Singh, while launching the India Aviation 2014 today in New Delhi, said that rapidly expanding air transport network and opening up of the infrastructure to private sector participation have fuelled the growth of air traffic in India. He further said that the Government has envisaged an investment of US $ 12.1 billion in the… Read More

Policies to Prevent Loss of Agricultural Land

As per the latest Land Use Statistics data (LUS, 2010-11) compiled by Directorate of Economics and Statistics; Ministry of Agriculture, the agricultural land in the country has marginally shrunk to 182.0 million hectares in 2010-11 as compared to 183.6 million hectares in 2001-02. As per the Seventh Schedule of the Constitution of India, Land falls… Read More

CLR Snippets | Anti-Competitive Practice Information Against Certain Car Manufacturing Companies

Information filed with the Competition Commission of India (CCI) against certain car manufacturing companies alleging anti-competitive practices is under consideration of the Commission. Giving this information in written reply to a question in the Lok Sabha today Shri Sachin Pilot, Minister of Corporate Affairs, said that for protecting the interest of consumers, CCI is empowered… Read More

Creation and launch of an Exchange Traded Fund comprising stocks of listed CPSEs

The Cabinet Committee on Economic Affairs today approved the setting up of a Central Public Sector Enterprises (CPSE) Exchange Traded Fund (ETF), which would comprise CPSE stocks (from amongst the listed CPSE stocks). Each stock would have a fixed weightage in the basket. The composition of the basket, the launch of the New Fund Offer… Read More

Proposal for extension of completion date of NATRiP project

The Cabinet Committee on Economic Affairs (CCEA) today approved the extension of the date of completion of the project by two years beyond 31st December, 2012 to 31st December, 2014. The National Automotive Testing and R&D Infrastructure Project (NATRiP) was approved by the CCEA on 25th July, 2005 with a total investment of Rs.1718 crore,… Read More

Extension of Government Guarantee to enable NAFED and CWC

Extension of Government Guarantee of Rs.1781 crore along with waiver of one percent guarantee fees to enable NAFED and CWC to undertake price support operations for procurement of oil seeds, pulses and cotton The Cabinet Committee on Economic Affairs today approved the proposal of the Department of Agriculture & Cooperation for extension of government guarantee… Read More

Price Support Scheme – Full reimbursement of losses to farmers

The Cabinet Committee on Economic Affairs (CCEA) today approved the removal of the cap on the amount of losses to be reimbursed on procurement of copra in the interest of farmers. This will ensure remunerative prices to growers. Copra prices are already ruling below Minimum Support Price (MSP) level in some parts of the country,… Read More

CLR Snippets | IKEA Brand given a Go-ahead to form single brand retail

The Cabinet Committee on Economic Affairs today gave its approval to the proposal of M/s. Ingka Holding B.V., Netherlands, as recommended by the Foreign Investment Promotion Board (FIPB). The approval would result in FDI inflows amounting to Rs.10,500 crore approximately into the country. **** Read More