Community & General News

S.Ramesh takes over as new CBIC Chairman

Shri S. Ramesh, IRS(C&CE:1981) has taken over as Chairman, Central Board of Indirect Taxes and Customs [CBIC], on superannuation of Smt. Vanaja N. Sarna today . Prior to his elevation, he was Member (Administration) in the Board. Shri S. Ramesh b

Know when to say no to Cash transaction

President gives assent to Fugitive Economic Offenders Ordinance, 2018

With the assent of the President of India, the Fugitive Economic Offenders Ordinance, 2018 gets promulgated; New Law lays down the measures to empower Indian authorities to attach and confiscate the proceeds of crime associated with economic offender

All steps are being taken to ensure ATMs are supplied with cash says Govt

Government reviews the currency circulation in the countryGovernment and RBI have taken all steps to meet unusual demand of the currencyAdequate reserves of currency to meet the rising demandsNon FunctionalATMS to be normalized soonThere are reports

RBI keeps repo rates unchanged

Government of India welcomes the First bi-monthly Statement of FY 2018-19 of the Monetary Policy Committee (MPC).The Ministry of Finance, Government of India welcomes the First bi-monthly Statement of the Monetary Policy Committee (MPC) in the Financ

KYC Requirement for Customers Using Mobile Wallets

As per Reserve Bank of India (RBI)’s related Master Direction dated October 11, 2017 as updated on December 29, 2017, since Prepaid Payment Instruments (PPI) Issuers are operating a payment system, provisions of Prevention of Money Laundering A

Rate on small savings schemes upto 31st March 2018

The revised Rates of Interest on various Small Savings Schemes Including Saving Deposits, Public Provident Fund, Kisan Vikas Patra and Sukanya Samriddhi Accounts Scheme for the 4th Quarter of financial year 2017-18 is as below: Instrument

Cabinet approves two percent Dearness Allowance to Central Government employees

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval to release an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensionersw.e.f. 01.01.2018 representing

Cabinet approves the Arbitration and Conciliation (Amendment) Bill, 2018

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the Arbitration and Conciliation (Amendment) Bill, 2018 for introduction in the Parliament. It is a part of the efforts of the Government to encourage institutional arbitrati

Govt constitutes steering committee on Fintech

The Government constitutes a Steering Committee on Fintech related issues to consider various issues relating to development of Fintech space in India with a view to make Fintech related regulations more flexible and generate enhanced entrepreneurshi