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
StCBs/CCBs – Deregulation of Interest Rates on NRE Deposits
RBI/2013-14/197 RPCD.RCB.BC.No. 26 /07.51.014/2013-14 August 22, 2013 All State and Central Co-operative Banks Dear Sir / Madam, Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits Please refer to our circular RPCD.CO.RCB.Dir.BC.No.49/07.38.01/2011-12 dated December 28, 2011 on Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits and Ordinary Non- Resident (NRO) Accounts. 2.… Read More
Delhi VAT Circular Regarding Audit of Dealers
GOVERNMENT OF NCT OF DELHI DEPARTMENT OF TRADE & TAXES VAT AUDIT BRANCH 12TH Floor, VYAPAR BHAWAN, I.P. ESTATE, NEW DELHI-110002 No. VAT AUDIT /HQ/2013-14/3210-3218 Date: 16.08.2013 CIRCULAR REGARDING AUDIT OF DEALERS This is in continuation of circular No. VAT AUDIT /HQ/2013-14/2967-2974, Dated 25/07/2013 regarding Audit of Business Affairs of dealer by… Read More
Subscribe to the Daily Journal
Corporate Law Referencer
India’s Leading Compliance Software
