Finance notifications

Notification for Rate of Interest on GPF for Q3 of 2020-21

Notification No. F.No. 5(2)-B(PD)/2020 (27/10/2020)

It is hereby notified that the deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, announced in the Ministry of Finance (Department of Economic Affairs) Notification No.F.16(1)-PD/75 dated 30th June, 1975, shall with effect from 1st October, 2020 to 31st December, 2020 bear inter...

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7.1% Interest on Deposit under non-government PF, superannuation & gratuity

F. No. 5(2)-B(PD)/2020 (27/10/2020)

Govt notifies 7.1% interest rate on Deposit made under non-government PF, superannuation and gratuity w.e.f. 1st October, 2020. Revised GPF Interest Rate is applicable for the period from 1st October, 2020 to 31st December, 2020 and is applicable on following funds- i) The General Provident Fund (Central Services); ii) The Contributory Pr...

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Issue of 8.50% Government of India (National Small Savings Fund) (Non-transferable) Special Securities, 2019 & 2030

No. 5/1/2019-NS (12/10/2020)

The Government of India, hereby notifies the issue of 8.50 per cent Government of India (National Small Savings Fund) (Non-transferable) Special Securities, 2019...

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Factoring Regulation (Amendment) Bill, 2020 introduced in Lok Sabha

Bill No. 115 of 2020 (14/09/2020)

Factoring Regulation (Amendment) Bill, 2020, inter alia, seeks to— (i) amend the definitions of ‘assignment’, ‘factoring business’ and ‘receivables’, so as to bring them in consonance with international definitions and also to insert a new definition of ‘Trade Receivables Discounting System̵...

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Spot delivery of bullion & dealing in bullion depository receipt notified

Notification No. S.O. 2957(E) (31/08/2020)

Spot delivery of bullion and dealing in bullion depository receipt notified. Bullion financing etc also notified MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 31st August, 2020 S.O. 2957(E).—In exercise of the powers conferred by sub-clause (vi) of clause (d)and sub-clause (xiv) of clause (e) of sub-se...

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Govt notifies ‘SLS Trust’ as financial institution under RDB Act 1993

Notification No. S.O. 2144(E) (30/06/2020)

Central Government hereby notifies ‘SLS Trust’ as financial institution under sub clause (ii) of clause (h) of section 2 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act, 1993). Extract of Section 2(h) of Recovery of Debts and Bankruptcy Act, 1993 is as follows:- 2. Definitions. – In this Act, unless the contex...

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Public Provident Fund (Amendment) Scheme, 2020- Interest Rate Notified

Notification No. G.S.R. 290(E) (05/05/2020)

Public Provident Fund (Amendment) Scheme, 2020- The deposits made in the account between 12th December, 2019 to 31 st March, 2020 (both days inclusive) and the balances at the credit of the account shall bear interest at the rate of 7.9 per cent. per annum. Lowest balance at the credit of an account between the close of the fifth day and ...

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National Savings Time Deposit (Amendment) Scheme, 2020- Interest Rate Notified

Notification No. G.S.R. 289 (E) (05/05/2020)

National Savings Time Deposit (Amendment) Scheme, 2020- The rate of interest as specified in the table below shall be applicable to the deposits made on or after the 1st day of April, 2020 under the Scheme...

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Sukanya Samriddhi Account (Amendment) Scheme, 2020- Interest Rate Notified

Notification No. G.S.R. 288(E) (05/05/2020)

Sukanya Samriddhi Account (Amendment) Scheme, 2020- The deposits made in the account between 12th December, 2019 to 31st March, 2020 (both days inclusive) and the balances at the credit of the account shall earn interest at the rate of 8.4 per cent. per annum. The deposits made in the account on or after the 1st day of April, 2020 and the...

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Senior Citizens’ Savings (Amendment) Scheme, 2020 – Interest Rate Notified

Notification No. G.S.R. 287(E) (05/05/2020)

Senior Citizens’ Savings (Amendment) Scheme, 2020- The deposit made under this Scheme between 12th December, 2019 to 31st March, 2020 (both days inclusive) shall bear interest at the rate of 8.6 per cent per annum. The deposit made under this Scheme on or after the 1st day of April, 2020 shall bear interest at the rate of 7.4 per cent. ...

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National Savings (Monthly Income Account) (Amendment) Scheme, 2020- Interest Rate Notified

Notification No. G.S.R. 286(E) (05/05/2020)

National Savings (Monthly Income Account) (Amendment) Scheme, 2020- The deposit made under this Scheme between 12th December, 2019 to 31st March, 2020 (both days inclusive) shall bear interest at the rate of 7.6 per cent. per annum. The deposit made under this Scheme on or after the 1st day of April, 2020 shall bear interest at the rate o...

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National Savings Recurring Deposit (Amendment) Scheme, 2020- Amount repayable inclusive of interest notified

Notification No. G.S.R. 285(E) (05/05/2020)

National Savings Recurring Deposit (Amendment) Scheme, 2020 Amount inclusive of interest repayable on an account opened between 12th December, 2019 to 31st March, 2020 (both days inclusive) and continued without any fresh monthly deposit beyond the maturity period or maturity period as extended...

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National Savings Certificates (VIII Issue) (Amendment) Scheme, 2020 – Maturity Value notified

Notification No. G.S.R. 284(E) (05/05/2020)

National Savings Certificates (VIII Issue) (Amendment) Scheme, 2020- The maturity value of an account opened between 12th December, 2019 to 31st March, 2020 (both days inclusive) with one thousand rupees shall be one thousand four hundred sixty two rupees and fifty four paisa and proportionate for deposits made with any other sum as per s...

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Kisan Vikas Patra (Amendment) Scheme, 2020- Maturity Period notified

Notification No. G.S.R. 283(E) (05/05/2020)

MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 5th May, 2020 G.S.R. 283(E).—In exercise of the powers conferred by section 3A of the Government Savings Promotion Act, 1873 (5 of 1873), the Central Government hereby makes the following Scheme to amend the Kisan Vikas Patra Scheme, 2019, namely:- 1. (1)Th...

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President Assents Finance Act, 2020

NO. 12 OF 2020 (27/03/2020)

President Assents Finance Act, 2020 on 27th March 2020.  Finance bill 2020 was presented in Lok Sabha on 01.11.2020 and get passed in Lok Sabha on 23.03.2020.  After passing of bill from Lok Sabha the bill was presented in the Rajya Sabha on the same day, which returned the same without consideration, which effectively means […]...

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Senior Citizens Welfare Fund deposit – 6.85% Interest Rate for FY 2019-20

F. No. 13/20/2014-NS (17/03/2020)

It is hereby notified that the deposits made under the Senior Citizens Welfare Fund, announced in the Ministry of Finance (Department of Economic Affairs) Notification No. G.S.R. 322(E) dated 18th March, 2016, shall with effect from 1st April, 2019 to 31st March, 2020, bear interest at 6.85% (Six point eight five percent). This rate will ...

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National Savings Time Deposit Scheme, 2019

Notification No. G.S.R. 922(E) (12/12/2019)

There shall be four categories of time deposit accounts, namely, One-year account, Two-year account, Three-year account and Five-year account in which a deposit may be made for a period of one year, two years, three years and five years respectively....

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Post Office Savings Account Scheme, 2019

Notification No. G.S.R. 921(E) (12/12/2019)

An account under Post Office Savings Account Scheme, 2019 may be opened by making an application in Form-1 by the following- a single adult, two adults jointly, a guardian on behalf of a minor, a guardian on behalf of a person of unsound mind, a minor who has attained the age of ten years, in his own name....

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Kisan Vikas Patra Scheme, 2019

Notification No.G.S.R. 920(E) (12/12/2019)

Government notifies vide notification No. G.S.R. 920(E), new Kisan Vikas Patra Scheme, 2019 which comes into effect from 12th December 2019. Full text of ‘Kisan Vikas Patra Scheme, 2019’ Notification is as follows:- MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 12th December, 2019 G.S.R. 920(...

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National Savings Certificates (VIII Issue) Scheme, 2019

Notification No. G.S.R. 919(E) (12/12/2019)

On an application to accounts office in Form-1, following types of accounts can be opened under National Savings Certificates (VIII Issue) Scheme, 2019 namely- (a) Single Holder Type Account; (b) Joint A- Type Account; and (c) Joint B - Type Account....

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National Savings Recurring Deposit Scheme, 2019

Notification No. G.S.R. 918(E) (12/12/2019)

On an application in Form-1 to the accounts office, an account under National Savings Recurring Deposit Scheme, 2019 may be opened by-(a) a single adult; or (b) upto three adults jointly; (c) a guardian on behalf of a minor or a person of unsound mind; or (d) a minor who has attained the age of ten years, in his own name....

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National Savings (Monthly Income Account) Scheme, 2019

Notification No. G.S.R. 917(E) (12/12/2019)

The account under National Savings (Monthly Income Account) Scheme, 2019 may be opened by making an application in Form-1 by-(i) a single adult; (ii) upto a maximum of three adults in joint names; (iii) a minor who has attained the age of ten years; (iv) a guardian on behalf of a minor or a person of unsound mind....

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Senior Citizens’ Savings Scheme, 2019

Notification No. G.S.R. 916(E) (12/12/2019)

An individual fulfilling the following conditions may open Senior Citizens’ Savings Scheme account by making an application in Form-1 to the accounts office (i) who has attained the age of sixty years on the date of opening of the account; or...

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Public Provident Fund Scheme, 2019 | PPF Scheme, 2019

Notification No. G.S.R. 915(E). (12/12/2019)

An individual may open a PPF account by making an application in Form-1. (2) An individual may also open one account on behalf of each minor or a person of unsound mind of whom he is the guardian:...

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Sukanya Samriddhi Account Scheme, 2019

Notification No. G.S.R. 914(E) (12/12/2019)

MINISTRY OF FINANCE Department of Economic Affairs) NOTIFICATION New Delhi, the 12th December, 2019 G.S.R. 914(E).—In exercise of the powers conferred by section 3A of the Government Savings Promotion Act, 1873 (5 of 1873), the Central Government hereby makes the following Scheme, namely:- 1. Short title and commencement.- (1) This Sche...

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Government rescinds Public Provident Fund Scheme, 1968

Notification No. G.S.R. 913(E) (12/12/2019)

Central Government hereby rescinds with immediate effect the Public Provident Fund Scheme, 1968, published vide number G.S.R. 1136(E), dated the 15th June, 1968, except as respects things done and omitted to be done before such rescission....

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Govt withdraws rules related to PPF, NSC, NSS, Sukanya Samriddhi etc.- Issued New Rules

Notification No. G.S.R. 912(E) (12/12/2019)

Central Government rescinds rules, namely The Post Office Savings Account Rules, 1981, The National Savings Time Deposit Rules, 1981, National Savings Recurring Deposit Rules, 1981, National Savings (Monthly Income Account) Rules, 1987, National Savings Certificate (VIII Issue) Rules, 1989, Senior Citizens Savings Scheme Rules, 2004, Kisa...

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The Chit Funds (Amendment) Act, 2019

ACT NO. 41 OF 2019 (05/12/2019)

(1) This Act may be called the Chit Funds (Amendment) Act, 2019. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint....

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Lok Sabha Passes The Chit Funds (Amendment) Bill, 2019

Bill No. 192C of 2019 (20/11/2019)

The Chit Funds (Amendment) Bill, 2019 was introduced in Loksabha on 05.08.2019 and was passed by Lok Sabha on 20.11.2019. Below is the text of Chit Funds (Amendment) Bill, 2019 as introduced in Loksabha on 05.08.2019 which explains why the same been introduced. As the end of this post we have provided link to download […]...

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Download Finance (No. 2) Bill, 2019 as passed by Lok Sabha

Bill No. 55-C of 2019 (18/07/2019)

Lob Sabha has passed Union Budget 2019 i.e. The Finance (No. 2) Bill, 2019  on 18th July 2019 with Various amendment in some of the sections and also inserted few new provisions. Full text of the same is as follows:- AS PASSED BY LOK SABHA ON 18.7.2019 Bill No. 55-C of 2019 THE FINANCE (NO. […]...

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National Savings Time Deposit (Amendment) Rules, 2019

G.S.R. 507(E) (16/07/2019)

These rules may be called the National Savings Time Deposit (Amendment) Rules, 2019. They shall deemed to have come into force on the 1st day of July, 2019....

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Govt notifies Interest Rate on PPF applicable from 1st July 2019

G.S.R.506(E). (16/07/2019)

Central Government hereby notifies that subscriptions made to Public Provident Fund on or after the 1st day of July, 2019 and balances at the credit of the subscriber shall bear interest at the rate of 7.9 per cent. per annum....

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Interest Rate on Sukanya Samriddhi Account w.e.f. 1st July 2019

G.S.R. 505(E) (16/07/2019)

Central Government hereby notifies that subscriptions made to Sukanya Samriddhi Account fund on or after 1st day of July, 2019 and the balances at the credit of the subscriber shall bear interest at the rate of 8.4 per cent. per annum....

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Senior Citizens Savings Scheme (Amendment) Rules 2019

G.S.R. 504(E) (16/07/2019)

These rules may be called the Senior Citizens Savings Scheme (Amendment) Rules, 2019. They shall be deemed to have come into force on the 1st day of July, 2019....

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National Savings (Monthly Income Account) Amendment Rules, 2019

G.S.R. 503(E) (16/07/2019)

These rules may be called the National Savings (Monthly Income Account) Amendment Rules, 2019. They shall deemed to have come into force on the 1st day of July, 2019....

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National Savings Recurring Deposit (Amendment) Rules, 2019

G.S.R. 502(E) (16/07/2019)

These rules may be called National Savings Recurring Deposit (Amendment) Rules, 2019. They shall deemed to have come into force on 1st day of July, 2019....

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National Savings Certificates (VIII Issue) (Amendment Rules), 2019

G.S.R.501(E) (16/07/2019)

These rules may be called the National Savings Certificates (VIII Issue) (Amendment Rules), 2019. They shall deemed to have come into force on the 1st day of July, 2019....

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Kisan Vikas Patra (Amendment Rules), 2019

G.S.R.500(E) (16/07/2019)

These rules may be called the Kisan Vikas Patra (Amendment Rules), 2019. They shall deemed to have come into force on the 1st day of July, 2019....

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Govt reduces interest rates for Small Savings Schemes by 0.10%

F. No. 01/04/2016-NS (28/06/2019)

Rates of interest on various small savings schemes for the second quarter of financial year 2019-20 starting 1st July, 2019, and ending on 30th September 2019, on the basis of the interest compounding / payment built-in in the schemes. shall be as under....

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8% Interest on Deposit under non-government PF, superannuation & gratuity

Notification No. 5(2)-B(PD)/2019 (03/04/2019)

Govt notifies 8% interest rate on Deposit made under non-government PF, superannuation and gratuity w.e.f. 1st April, 2019. MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 3rd April, 2019 No. 5(2)-B(PD)/2019.—Itis hereby notified that the deposits made under the Special Deposit Scheme for Non-Government ...

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Interest rates of NSC, PPF, KVP, SSAS, SCSS for Q1 of FY 2019-20

rates of interest on various small savings schemes for the first quarter of financial year 2019-20 staring Ist April, 2019 and ending on 30th June, 2019 shall remain unchanged from those notified for the fourth quarter of financial year 2018-19....

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Corrigenda to Banning of Unregulated Deposit Schemes Ordinance, 2019

Corrigenda to Banning of Unregulated Deposit Schemes Ordinance, 2019 (28/02/2019)

MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 28th February, 2019 CORRIGENDA In the BANNING OF UNREGULATED DEPOSIT SCHEMES ORDINANCE, 2019 (No. 07 OF 2019) as published in the Gazette of India, Extraordinary, Part 11, Section 1, Issue No. 13, dated the 213‘ February, 2019,— Page No. Line(s) No.  For Read 28...

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Banning of Unregulated Deposit Schemes Ordinance, 2019

No. 7 or 2019 (21/02/2019)

(1) This Ordinance may be called the Banning of Unregulated Deposit Schemes Ordinance, 2019. (2) It extends to the whole of India except the State of Jammu and Kashmir. (3) It shall come into force at once....

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Small Savings Schemes Interest Rate for 01.01.2019 to 31.03.2019

F. No.01/0412016-NS (31/12/2018)

Rates of interest on various small savings schemes for the fourth quarter of financial year 2018-19 starting 1stJanuary, 2019, and ending on 31st March, 2019, on the basis of the interest compounding / payment built-in in the schemes,...

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Appointment of Shri Shaktikanta Das as Governor, RBI

Notification No. S.O. 6142(E) (12/12/2018)

Central Government appointed Shri Shaktikanta Das, IAS Retd. (TN:80), former Secretary, Department of Economic Affairs, as Governor, Reserve Bank of India (RBI), for a period of three years....

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Interest Rate on deposits under Senior Citizens Welfare Fund from 01.04.18 to 31.03.19

F. No. 13/20/2014-NS (06/12/2018)

It is hereby notified that the deposits made under the Senior Citizens Welfare Fund, announced in the Ministry of Finance (Department of Economic Affairs) Notification No. G.S.R. 322(E) dated 18th March, 2016, shall with effect from 1st April, 2018 to 31st March, 2019, bear interest at 7.90% (Seven point nine per cent). This rate will be ...

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Interest Rates of Small Savings Schemes hiked by 0.30 to 0.40 percent

F.No.01/04/2016-NS (19/09/2018)

Government announces the Revision of interest rates for Small Savings Schemes for the Third Quarter of the current Financial Year 2018-19 On the basis of the decision of the Government of India, the interest rates for Small Savings Schemes are to be notified on Quarterly Basis with the approval of the Union Finance Minister. Accordingly, ...

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Sukanya Samriddhi A/c can be opened with initial deposit of Rs. 250 now

G.S.R. 617(E) (05/07/2018)

Sukanya Samriddhi Account Account may be opened with a minimum initial deposit of two hundred and fifty rupees and thereafter any amount in multiples of  two hundred and fifty rupees may be deposited in an Account subject to the condition that a minimum of two hundred and fifty rupees shall be made as deposit in a […]...

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Interest Rate on Special Deposit Scheme wef 01.01.2018 notified

F. No. 5(4)-B(PD)/2017 (01/01/2017)

Deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds shall with effect from 1st January, 2018 to 31st March, 2018 bear interest at 7.6% (Seven point six per cent). This rates will be in force w.e.f. 1st January, 2018....

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Constitution of Fifteenth Finance Commission Notified

Notification No. S.O.3755(E) (27/11/2017)

The Government of India, with the approval President of India, has constituted Fifteenth Finance Commission in pursuance of clause (1) of article 280 of the Constitution, read with the provisions of the Finance Commission (Miscellaneous Provisions) Act, 1951 w.e.f. 27th November, 2017. ...

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Govt exempts Gems & Jewellery dealers from PMLA Requirements

Notification No. G.S.R. 1223(E) (06/10/2017)

The Government has received representations from various Associations in the Gems and Jewellery sector with respect to certain incongruities in Notification No. 4/2017 dated 23rd August, 2017, wherein dealers in precious metals, precious stones and other high value goods were notified as person carrying on designated business and professi...

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National Savings Time Deposit (Amendment) Rules, 2017

Notification No. G.S.R. 1236 (E) (03/10/2017)

These rules may be called the National Savings Time Deposit (Amendment) Rules, 2017. They shall come into force on the date of their publication in the Official Gazette. In the National Savings Time Deposit Rules, 1981, in rule 5, in sub-rule (1), for the words two hundred, the words “one hundred” shall be substituted....

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National Savings (Monthly Income Account) Rules, 2017

Notification No. G.S.R. 1239(E) (03/10/2017)

In the National Savings (Monthly Income Account) Rules, 1987, in rule 5, in sub-rule 1, for the words one thousand five hundred, the words one hundred shall be substituted....

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PPF account deemed to be closed on Resident A/c holder becoming non Resident

Notification No. G.S.R.1237(E) (03/10/2017)

If a resident who opened an account under this scheme, subsequently becomes a non Resident during the currency of the maturity period, the account shall be deemed to be closed with effect from the day he becomes a non-resident and interest with effect from that date shall be paid at the rate applicable to the Post Office Saving Account up...

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Senior Citizens Savings Scheme (Amendment) Rules, 2017

Notification No. G.S.R.1235(E) (03/10/2017)

In the Senior Citizen Savings Scheme Rules, 2004, in rule 2, in clause (d), in sub-clause (ii), in the second proviso, for the words irrespective of the above age limit the words on attaining the age of fifty years shall be substituted....

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NSC shall be deemed to be encashed on the day of attaining Non-Resident Status

Notification No. G.S.R. 1238(E) (03/10/2017)

Provided that if a resident Indian having purchased a certificate, subsequently becomes Non-Resident during the currency of the maturity period, the certificate shall be encashed or deemed to be encashed be encashed on the day he becomes a non-Resident, and ab interest shall be paid at the rate applicable to the Post Office Savings Accoun...

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Post Office Savings Certificates (Amendment) Rules, 2017

Notification No. G.S.R. 1234 (E) (29/09/2017)

In exercise of the powers conferred by section 12 of the Government Savings Certificate Act, 1959 ( 46 of 1959) , the Central Government hereby makes the following rules further to amend the Post Office Savings Certificates Rules, 1960, namely...

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Aadhaar mandatory for All Post office deposits; Existing depositors to updates by 31.12.2017

Notification No. G.S.R. 1242(E) (29/09/2017)

(a) 'Aadhaar number' means an identification number as defined in clause (a) of section 2 of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 (18 of 2016); (aa) 'Account' means a Savings Account, a Recurring Deposit Account, a Time deposit Account, Monthly Income Scheme Account, Sukanya Sam...

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Aadhaar mandatory for NSC; Existing depositors to updates by 31.12.2017

Notification No. G.S.R. 1244(E) (29/09/2017)

Aadhaar number shall be the unique identifier for the purpose of establishing the identity of National Savings Certificate (NSC) holder. Provided that where Aadhaar number has not been assigned, the depositor shall submit proof of application of enrollment for Aadhaar....

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Aadhaar mandatory for PPF; Existing depositors to updates by 31.12.2017

Notification No. G.S.R. 1243(E) (29/09/2017)

Aadhaar number shall be the unique identifier for the purpose of establishing the identity of Public Provident Fund account holder. Provided that where Aadhaar number has not been assigned, the depositor shall submit proof of application of enrollment for Aadhaar....

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Aadhaar mandatory for Kisan Vikas Patra; Existing depositors to updates by 31.12.2017

Notification No.G.S.R. 1241(E) (29/09/2017)

Aadhaar number shall be the unique identifier for the purpose of establishing the identity of Kisan Vikas Patra account holder. Provided that where Aadhaar number has not been assigned, the depositor shall submit proof of application of enrolment for Aadhaar:...

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Revised law for Issue of summon and notice under PMLA

Notification No. G.S.R.515 (E) (24/05/2017)

(1) Every summon or notice shall be issued in Form 3 or Form 4 or Form 5 or Form 6, as the case may be, and signed by the Registrar or Administrative Officer....

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MVAT- Settlement Act, 2016-Extension of time limit to 30.11.2016

Maharashtra Ordinance No. XXVII Of 016. (17/11/2016)

It has become necessary to give more time to dealers to amicably settle the disputes relating to payment and to facilitate compliance under the said Act, it is proposed to extend the said date upto 30th November 2016....

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Special Deposit Scheme to get interest of 8.10% for Q2 of 2016-17

F. No. 5(4)-B(PD)/2016 (30/06/2016)

It is hereby notified that the deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, announced in the Ministry of Finance (Department of Economic Affairs) Notification No.F.16(1)-PD/75, dated 30th June, 1975, shall with effect from 1st July, 2016 to 30th September, 2016, bear inter...

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Debts Recovery Tribunal (Procedure) Amendment Rules, 2016

G.S.R. 407(E) (06/04/2016)

1. (1) These rules may be called the Debts Recovery Tribunal (Procedure) Amendment Rules, 2016. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Debts Recovery Tribunal (Procedure) Rules, 1993, in rule 19, for the word Saturdays, the words second Saturday of a month may be substituted....

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Post Office Recurring Deposit (Amendment) Rules, 2016

G.S.R. 355 (E) (29/04/2016)

In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Recurring Deposit Rules, 1981, namely:-...

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NSC Maturity Period 5 Year wef 01.04.2016 & Interest Rate

Notification No. G.S.R. 354(E) (29/03/2016)

Where a certificate has been purchased on or after the 1st day of April, 2016 the maturity period of a certificate of any denomination, shall be five years, commencing from the date of issue of the certificate. The amount inclusive of interest, payable on encashment of the certificate at any time after the expiry of its maturity period sh...

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Interest Rate on Post Office Time Deposit on or after 1st April, 2016

G.S.R. 356 (E) (29/03/2016)

In exercise of the powers conferred by section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Time Deposit Rules, 1981, namely:-...

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Govt notifies Interest Rate on PPF from 01.04.2016

G.S.R. 350(E) (29/03/2016)

Central Government hereby notifies that the subscriptions made to the fund on or after the 1st day of April, 2016 and the balances at the credit of the subscriber shall bear interest at the rate of 8.1 per cent. per annum....

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Interest Rate on Sukanya Samriddhi Account wef 01.04.2016

G. S. R. 352(E) (29/03/2016)

In the Sukanya Samriddhi Account Rules, 2014, in rule 7, in sub-rule (1), after first proviso, the following proviso shall be inserted, namely:-Provided that in the case of a deposit made under these rules on or after the 1st day of April, 2016, it shall bear at the rate of 8.6 per cent per annum from the date of deposit....

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KVP Maturity period & premature encashment value wef 01.04.2016

G.S.R. 353(E) (29/03/2016)

In the Kisan Vikas Patra Rules, 2014 (hereinafter referred to as the said rules), in rule 16, in sub-rule (1), for the words eight years and four months, the words nine years and two months shall be substituted. In the said rules, in rule 17, in sub-rule (3), the premature encashment value of Certificates purchased on or after 1.4.2016 b...

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Senior Citizens’ Welfare Fund Rules, 2016

Notification No. G.S.R. 322(E) (18/03/2016)

MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 18th March, 2016 G.S.R. 322(E).-In exercise of the powers conferred by section 128 of the Finance Act, 2015, 20 of 2015 the Government hereby makes the following rules, namely:- 1. Short title, extent and commencement.- (1) These rules may be called Senior Ci...

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Sukanya Samriddhi Account Rules, 2016

G.S.R.323(E) (18/03/2016)

Sukanya Samridhi Account may be opened by the guardian in the name of a beneficiary who has not attained the age of ten years as on the date of opening of the Account:...

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Now Private Companies can accept loan from Directors Relatives

G.S.R. 695(E) (15/09/2015)

(viii) any amount received from a person who, at the time of the receipt of the amount, was a director of the company or a relative of the director of the private company: Provided that the director of the company or relative of the director of the private company, as the case may be, from whom money is received, furnishes to the company ...

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Interest rate on Sukanya Samriddhi Account from 01.04.2015

G.S.R. 593(E) (27/07/2015)

In case of a deposit in Sukanya Samriddhi Account on or after the 1st day of April, 2015, it shall bear at the rate of 9.2 per cent. per annum from the date of deposit....

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Interest rate on Senior Citizens Savings Scheme from 01.04.2015

G.S.R. 592(E) (27/07/2015)

In the Senior Citizen Savings Scheme Rules, 2004, in rule 7, in sub-rule (1), after the third provisio, following proviso shall be inserted, namely:—Provided also that in the case of a deposit made under these rules on or after the 1st day of April, 2015, it shall bear at the rate of 9.3 per cent. per annum from the date of deposit....

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Sukanya Samriddhi Account Rules, 2014 – Notification

G.S.R.863(E) (02/12/2014)

Opening of Account.- (1) The account may be opened by the natural or legal guardian in the name of a girl child from the birth of the girl child till she attains the age of ten years and any girl child, who had attained the age of ten years, one year prior to the commencement of these rules. shall also be eligible for opening of the acco...

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No first class air travel, 5-star hotel meetings for officials – Govt.

7(1)/E.Coord./2014 (29/10/2014)

Government Announces Measures for Fiscal Prudence and Economy; Every Ministry / Department to Effect A Mandatory 10% Cut in Non-Plan Expenditure; Utmost Economy to be Observed in Organizing Conferences/Seminars/Workshops; Ban on Purchase of Vehicles; in all Cases of Air Travel, the Lowest Air Fare Tickets Available for Entitled Class to b...

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Govt. notifies revised ‘Kisan Vikas Patra Rules’

Notification No. G.S.R. 705(E) (23/09/2014)

MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 23rd September, 2014 GSA- 705(E).—ln exercise of the powers conferred by section 12 of the Government Saving Certificates Act, 1959 (46 of 1959) and in suppression of the Kisan Vikas Patra Rules, 1988 except as respects things done or omitted to be done bef...

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Government Employees to be polite, honest and accountable – Amendment in All India Services (Conduct) Rules,1968

Notification No. G.S.R ……(E) (06/08/2014)

Every member of the Service shall maintain;- (i) High ethical standards, integrity and honesty ; (ii) Political neutrality (iii) Promoting of the principles of merit, fairness and impartiality in the discharge of duties;- (iv) Accountability and transferancy;...

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Rate of Interest on PPF on Subscriptions Made On Or After 1-4-2014

Notification No. GSR 496(E) (11/07/2014)

Rate Of Interest On Public Provident Fund Scheme Under Section 5 of the Public Provident Fund Act, 1968 (23 of 1968) On Subscriptions Made To The Fund On Or After 1-4-2014 And Balances At The Credit Of Subscriber Notification No. GSR 496(E) [F.NO.6-1/2011-NS-II (PT.II)], Dated 11-7-2014 In pursuance of section 5 of the Public Provident [&...

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No booking of air tickets through private agents – Government tells babus

F.No. 31011/4/2014 (19/06/2014)

In a number of cases, it has been noticed that the aforesaid instructions are not being followed and as a result various Ministries/Departments continue to make references to DoPT seeking relaxation of the conditions for one reason or the other. The most common reasons given by the employees are unawareness of the rules and non-availabili...

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Easy Withdrawal on closure of saving a/c maintained at Post Offices if interest payment is not involved

Notification No. GSR 220(E) (13/03/2014)

Notification No. GSR 220(E), Dated-13-03-2014 In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Savings Account Rules, 1981, namely:— 1. . (1) These rules may be called the Post Office Savings [&...

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Regarding Automatic maturity of Post Office Time Deposit account

Notiifcation No. G.S.R. 222(E) (13/03/2014)

Notification No. GSR 222(E) , DATED 13-3-2014 In exercise of the powers conferral by Section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Time Deposit Rules, 1981, namely:— 1. (1) These rules may be called the Post Office […]...

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Recovery of wrongful/excess payments made to Government servants

F. No. 18/26/ 2011 (08/02/2014)

The undersigned is directed to say that the issue of recovery of wrongful/excess payments made to Government servants has been examined in consultation with the Department of Expenditure and the Department of Legal Affairs in the light of the recent judgement of the Hon’ble Supreme Court in Chandi Prasad Uniyal And On vs State Of Uttara...

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Regulation of pay on imposition of a penalty under CCS (CCA) Rules, 196

Notification No. 6/3/2013 (06/02/2014)

Consequent upon implementation of the recommendations of 6 th CPC under the CCS (RP) Rules, 2008 pay scale of a post/grade for below HAG level means the Pay Band and Grade Pay specified for that post. Under the CCS (RP) Rules, 2008 a Pay Band may cover Government servants in more than one Grade Pay or posts in the hierarchy. As per Rule 9...

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Introduction of Basic Savings Account under Post Office Savings Account Rule 1981

Notification No. F.No.25-10/2005 (12/06/2013)

Introduction of Basic Savings Account under Post Office Savings Account Rule 1981 to facilitate opening of Zero Balance Accounts by beneficiaries of any Government Welfare Scheme-regarding....

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Government notifies revised rates for International Posts

Notification No. S.O. 1211(E) (13/05/2013)

NOTIFICATION NO. SO 1211(E) [NO.43-1/2012-DA], DATED 13-5-2013 In exercise of the powers conferred by section 21 of the Indian Post Office Act, 1898 (6 of 1898), the Central Government hereby makes the following rules further to amend the Indian Post Office Rules, 1933, namely:- 1. (1) These rules may be called the Indian Post Office [&he...

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Dearness Allowance payable to CG Employees increased to 80% wef 01.01.2013

Notification No. 1(2)/2013-E-II (B) (25/04/2013)

Government issued order enhancing the Dearness Allowance payable to Central Government Employees with effect from 1.1.2013 from the existing 72% to 80%....

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Central Govt. Employees permitted to re-exercise their option upto 31.03.2013

Notification No. 10/2/2011-E-111(A) (03/01/2013)

The undersigned is directed to invite a reference to Rules 5 & 6 of the CCS(RP) Rules, 2008, as per which a Central Government employee had an option to elect to come over to the revised pay structure either from 1.1.2006 or from the date of his next increment or from the date of promotion, upgradation of pay scales. Such an option was to...

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Post Office Savings Account (Amendment) Rules, 2012 – Amendment in Rule 4A

Notification No. G.S.R 926(E) (13/01/2013)

These rules may be called the Post Office Savings Account (Amendment) Rules, 2012. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In Post Office Savings Account Rules, 1981, in rule 4A, in the Table, —...

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Only High Court Judge To Be President of CESTAT, VPs Post Abolished

NA (31/08/2012)

In exercise of the powers conferred by the proviso to article 309 of the Constitution of India, the President hereby makes the following rules to further amend the Customs, Excise And Service Tax Appellate Tribunal Members (Recruitment and Conditions of Service) Rules, 1987, namely: ...

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Listing of Government Companies in Stock Exchange

Notification No. 1(7)/E. COORD./2012 (11/05/2012)

The Financial Advisers, who are on the Board of CPSEs, are requested to emphasize the benefits of listing, as mentioned in the above D.O. letter, and get the CPSEs listed in compliance with the disinvestment policy. Further, Financial Advisers are requested to advise the CPSEs that consequent to listing such Companies would be better able...

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NSC (VIII Issue) – Revised Interest Rate From 01.04.2012

Notifcation No. G.S.R. 318(E) (25/04/2012)

In exercise of the powers conferred by section 12 of the Government Savings Certificates Act, 1959 (46 of 1959), the Central Government hereby makes the following rules further to amend the National Savings Certificates (VIII Issue) Rules, 1989, namely:- 1. (1) These rules may be called the National Savings Certificates (VIII Issue) (Amen...

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NSC (IX Issue) – Amendment in Rules 15 & 16 – Revised Interest Rate From 01.04.2012

Notification No. G.S.R. 319(E) (25/04/2012)

In exercise of the powers conferred by section 12 of the Government Savings Certificates Act, 1959 (46 of 1959), the Central Government hereby makes the following rules further to amend the National Savings Certificates (IX Issue) Rules, 2011, namely:- 1. (1) These rules may be called the National Savings Certificates (IX Issue) (Amendme...

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Central govt. employees who were due to get their annual increment between February to June during 2006 may be granted one increment on 1.1.2006 in the pre-revised pay scale

Notification No.10/02/2011-E.III/A (19/03/2012)

In accordance with the provisions contained in Rule 10 of the CCS (RP) Rules, 2008, there will be a uniform date of annual increment, viz. 1st July of every year. Employees completing 6 months and above in the revised pay structure as on 1st of July will be eligible to be granted the increment. The first increment after fixation of pay on...

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PPF Scheme, 1968/Senior Citizens Savings Scheme Rules, 2004 – Notified branches of Central Bank of India

Notification No. F.7/9/2008-NS.II (19/01/2012)

n pursuance of clause (b) of paragraph 2 of the Public Provident Fund Scheme, 1968 and of sub-clause (ii) of clause (e) of rule 2 of Senior Citizens Savings Scheme Rules, 2004, the Central Government hereby further auhorises the following 111 branches of Central Bank of India to receive, with immediate effect, subscriptions under the Publ...

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Be Courteous to Public and Legislators – Government Directs Babus

Notification No.11013/4/2011-Estt.(A) (01/12/2011)

The Members of Parliament and State Legislatures as the accredited representatives of the people occupy a very Important place in our democratic set-up. In connection with their duties, they often find it necessary to seek information from the Ministries/Departments of the Government of India or the State Governments, or make suggestions ...

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Interest Rate on PPF increased to 8.60 percent w.e.f. 01.12.2011

Notificatiuon No. S.O. (E) (25/11/2011)

In pursuance of section 5 of the Public Provident Fund Act, 1968 (23 of 1968) the Central Government hereby notifies that the subscriptions made to the fund on or after the 1st day of December, 2011 and balances at the credit of the subscriber shall bear interest at the rate of 8.6 per cent. per annum. ...

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