Financial News India: Read all the latest finance news on credit card, online payment, bank loan interest rate, scams, GDP growth Inflation, Saving schemes, PPF, NSC, KVP Bank, FD calculators ULIP IIP numbers
Finance : This guide explains why senior travellers should review travel insurance coverage, organise medical records, and plan ahead before...
Finance : The article explains how local Indian phone numbers enhance credibility and accessibility for international businesses. It highlig...
Finance : The article explains how borrowing within your affordability and understanding total loan costs can make loan management easier. I...
Finance : The article examines how ATMs are facing cash shortages even though currency circulation is at an all-time high. It argues that ba...
Finance : mployers are increasingly migrating retirement savings from superannuation trusts to NPS due to lower costs, greater flexibility, ...
Finance : The Government has exempted interest and capital gains earned by FPIs on Government securities from income tax with effect from 1 ...
Finance : The Ministry of Finance has introduced a unified portal to help individuals search for unclaimed bank deposits, insurance claims, ...
Finance : The IFSCA clarified that retrocession and retention requirements apply to the entire gross reinsurance premium of IFSC Insurance O...
Finance : The authority observed that except life insurance, other insurance segments under IFSCA regulations align with the statutory defin...
Finance : The Ministry of Finance clarified that claims regarding monetisation of temple gold holdings or issuance of gold bonds to temples ...
Finance : The Supreme Court ruled that vicarious liability under the NI Act cannot arise solely from holding an office in a society or compa...
Finance : The Supreme Court refused relief to borrowers who defaulted from the very first instalment after availing an ₹8.09 crore loan. T...
Finance : The Supreme Court upheld a Will executed in favour of the testator’s sister despite objections from his wife and children. The C...
Finance : The Supreme Court held that insolvency proceedings under the IBC cannot be invoked merely to recover disputed dues arising from co...
Finance : The issue was whether indemnity obligations arise only after final appellate confirmation. The Supreme Court held that liability a...
Finance : IFSCA clarified that a common brand name by itself is sufficient to establish a Group Entity relationship under the ship leasing f...
Finance : IFSCA has consolidated multiple regulations and circulars into a single Master Circular for Stock Exchanges and Clearing Corporati...
Finance : IFSCA has introduced a standardized ACAR and ACAC reporting framework for Capital Market Intermediaries in IFSCs. The circular aim...
Finance : IFSCA has warned regulated entities that advanced AI models can accelerate cyberattacks by rapidly identifying and exploiting vuln...
Finance : The International Financial Services Centres Authority clarified that existing ASPs and TechFin entities continuing operations und...
More than 86,000 commercial banks and one lakh co-operative banks all over India would go on strike during the coming Parliament session in protest against some concessions to private sector in banking operations announced in the Budget. Announcing this here today ALL India Banking Employees Association General Secretary C H Venkatachalam said more than Rs 65,000 crore of loans lent by banks were outstanding. It would turn into bad debts and be written off, thus creating heavy losses to banks.
Taking strong note of pay disparity in different tribunals, Union Law minister Veerappa Moily said he has signed a cabinet note today to ensure uniform salary structure in such bodies. “We need to ensure that system works properly. In fact, we have been carrying out exercise…the salary matters have to be uniform in respect to all the tribunals at the national level. Only today I signed a Cabinet Note,” Moily said while delivering his keynote address at a consumer rights function.
Inoperative EPF Accounts The Finance Ministry while recommending adoption of investment pattern notified by them on 14.08.2008 for Employees’ Provident Fund and “Exempt Funds” suggested that liberal advances and withdrawals from Employees’ Provident Fund (EPF) should be shunned to achieve old age income security for employees because by not adhering to “one instrument one policy objective” most employees retire with as little as less than Rs. 35,000/- in their accounts. Ministry of Labour and Employment has replied to the Ministry of Finance mentioning the need for continuation of the provision for partial withdrawal from provident fund account of the subscribers.
Mines and Minerals (Development and Regulation) Act. The draft Mines and Minerals (Development and Regulation) Act, 2010 was hosted on the website of Ministry of Mines (http://mines.nic.in) on 3rd June, 2010. The proposals received from the State Governments with reference to new legislation being framed pursuant to the National Mineral Policy, 2008 are presently under consideration of a Group of Ministers (GoM). Final reaction of the Government will be known on receipt of recommendations of GoM. Since the process involves taking the approval of Parliament, the time by which such legislation would be available cannot be stated.
Admitting that the country was facing a persistent problem of illegal immigration, the government has ruled out a fresh legislation to deal with the issue saying stringent mechanisms were already in place. Under the existing Foreigners’ Act 1946, there is enough provision for identification, detention and deportation of illegal immigrants and thus no new mechanism is required, Minister of State for Home Mullappally Ramachandran told the Lok Sabha on Friday.
The Pension Fund Regulatory and Development Authority (PFRDA) today said the Bajpai committee report on overhauling the structure of all citizens’ pension scheme is expected by the end of this month. “They have committed that they would submit the report by end of this month,” PFRDA Chairman Yogesh Agarwal said on the sidelines of a seminar here.
Having completed investigation into special audit of five leading operators, including RCom, Bharti and Idea, the Telecom Ministry is likely to raise demand of over Rs 1,100 crore from them for under reporting revenues. “The Department has completed investigations into the audit report of telecom companies and the demand may be raised by this month-end,” a source in the DoT said.
Age of Marriage The Law Commission of India in its 205th Report had made recommendation for a uniform age of marriage of 18 years for both boys and girls. However, the Government is of the view that the difference in the age of marriage (21 years for boys and 18 years for girls) was deliberately inserted in the statutes in view of the social realities.
The working days in the High Courts are regulated by the rules framed by the respective Courts. According to available information, all High Courts in the country normally have 210 working days in a year. The number of working days of the District/Subordinate Courts are regulated by the concerned High Court. However, no data about the number of working days in the lower courts is maintained Centrally.
Finance Minister Pranab Mukherjee today appeared to hint at a review of some tax proposals including those on hospitals while he announced extension of interest subsidy to fishermen and fish farmers and concessions for education and healthcare sectors.
