Thursday, April 26, 2012

EPF interest rate will be raised to 8.6% this year

Interest rate on EPF will be increased to 8.6 per cent for the year 2012-2013. This will benefit around five crore EPF subscribers.The Labour & Employment Minister, Shri Mallikarjun Kharge informed the Rajya Sabha that as per para 60(1) of the Employees’ Provident Funds Scheme, 1952, rate of interest on the Employees Provident Fund is determined by the Central Government in consultation with the C....


Tuesday, April 17, 2012

What is a Repo Rate?

What is a Repo Rate?
Whenever the banks have any shortage of funds they can borrow it from RBI. Repo rate is the rate at which our banks borrow rupees from RBI. A reduction in the repo rate will help banks to get money at a cheaper

Home, car loans to be cheaper

Reserve Bank of India (RBI) may cut the interest rates to boost economy at its annual credit policy. If this happens it will be the first rate cut by the RBI in three years. The inflation had eased for the month of March. India's inflation declined marginally to 6.89 percent in March as compared to 6.95 percent in the previous month.The RBI is widely expected to cut its main lending rate, the repo....


Repo rates cut

The Reserve Bank of India (RBI) today cut the repo rate by 50 bps to 8%. It left the CRR unchanged at 4.75%. Loans are likely to get cheaper. Even though the cut was expected, the cut was expected to be 25bps. The cut of 50 bps has come as a surprise. The Reserve Bank of India has cut the rates for the first time in three years. Since March 2010, the RBI had increased the interest rates thirt....


Tuesday, April 3, 2012

Office memorandum on enhancing the DA rates from January, 2012

The finance ministry has issued the office memorandum stating that the Dearness Allowance payable to Central Government employees shall be enhanced from the existing rate of 58% to 65% with effect from 1st January, 2012.The OM can be read here

Sunday, April 1, 2012

Being aware of likelihood to commit crime is punishable, if not reported.

The times of India report on A. K. Antonys involvement in the Tatra truck deal makes it clear that it's not only about committing crime, but even withholding the knowledge of committing crime or even the knowledge of the likely hood of committing crime is punishable. Defence Minister AK Antony could face up to six months in jail if it is established that he was negligent in not reporting the allegation of bribery relating to the sale of Tatra trucks

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