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The world is facing the tremors of financial time bombs which are getting blasted from time to time. Europe has covered every country, states, town’s news papers and, TV channels and other media resources left on the globe with their ongoing crisis. Economists around the world are on the debate that does the world is coming to an end in 2012 through the economic disasters or will continue its fragile growth. I have no bets placed on this topic since I am not yet matured enough to comment on this topic. But all I can say is that till December 2012 we have to live and my job role is to write and depict to all of you the path till dead line of 2012.
The finance ministry has notified rules which will pave the way for small savings account holders to earn higher returns from December 1. Earlier this month, the government had accepted the recommendations of a panel which would help investors earn higher interest on small savings schemes.An expert panel, headed by former RBI deputy governor Shyamala Gopinath, had recommended moving to a market-linked interest rate system for small savings schemes that would translate into higher returns for now.
Public Provident Fund (Amendment) Scheme, 2011 – Amendment in paragraphs 3, 11 and Form A NOTIFICATION [F.No. 1/9/2011-NS-II], dated 25-11-2011 In exercise of the powers conferred by sub-section (4) of section 3 of the Public Provident Fund Act, 1968 (23 of 1958), the Central Government hereby makes the following further amendment to the Public Provident Fund Scheme, 1968, namely :- 1. (1) This Scheme may be called the Public Provident Fund (Amendment) Scheme, 2011.
NOTIFICATION [F.No.1/12/2011-NS-II], dated 25-11-2011 In exercise of the powers conferred by clause (1) of article 283 of the Constitution, the President hereby makes the following further amendments in the National Small Savings Fund (Custody and Investment) Rules, 2001, namely:- 1. (1) These rules may be called the National Small Savings Fund (Custody and Investment) Amendment Rules, 2011. (2) They shall come into force on the 1st day of December 2011.
NOTIFICATION [F.No.1/11/2011-NS-II], dated 25-11-2011- 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:-1. (1) These rules may be called the Post Office Time Deposit (Second Amendment) Rules, 2011.
NOTIFICATION [F.No. 1/10/2011-NS-II], dated 25-11-2011- In pursuance of rule 6 of the Post Office Savings Account Rules, 1981, the Central Government hereby notifies that, with effect from the 1st day of December, 2011, interest on the balance at credit of an account shall be allowed at the rate of four per cent, per annum.
Post Office Recurring Deposit (Second Amendment) Rules, 2011 – Amendment in rules 9. 10, 11, 12 and insertion of tables 44 to 46 NOTIFICATION [F.No. 1/7/2011-NS-II], dated 25-11-2011 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:- 1. (1) These rules may be called the Post Office Recurring Deposit (Second Amendment) Rules, 2011.
National Savings Certificates (VIII Issue) (Second Amendment Rules, 2011 – Amendment in rules 15 and 16- NOTIFICATION [F.No.1/7/2011-NS-II], dated 25-11-2011 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) Second Amendment Rules, 2011.
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 (Monthly Income Account) Rules, 1987, namely:- 1. (1) These rules may be called the Post Office (Monthly Income Account) Second Amendment Rules, 2011. (2) They shall come into force on the 1st day of December 2011. 2. In the Post Office (Monthly Income Account) Rules, 1987,—
It is notified for general information that the sale of Kisan Vikas Patras shall be discontinued with effect from the close of business on Wednesday, the 30th November, 2011.