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The government is in the process of formulating the code on social security and welfare for the third time as the trade unions and industry bodies had raised objections to some provisions in the earlier draft. The social security code is part of government’s effort to overhaul the country’s labour laws to condense them into four ..
The State Bank of India (SBI) has launched doorstep banking service for senior citizens over 70 years of age, differently-abled customers and infirm customers, including visually-impaired customers. Eligible customers can avail this service at a nominal fee of Rs. 100 per transaction for financial transactions and Rs. 60 for non-financial transactions. The doorstep banking services ..
On July 23, the Lok Sabha passed the Negotiable Instruments (Amendment) Bill, 2017 that allows a court hearing a cheque bounce case to direct the drawer — the person who wrote the cheque — to pay interim compensation to the person who filed the complaint. The interim compensation, to be paid within 60 days of ..
The union cabinet has approved the ordinance on Payment of Wages Act that relates to the payment of wages. The ordinance facilitates central government administered establishments to pay salaries by cheque or credit salary in employees’ bank accounts. Accordingly, the ordinance will amend Section 6 of the Payment of Wages Act, 1936. It should be ..
United Opposition consisting of major political parties like Congress, Trinamool Congress, and the BSP have given a call for nationwide Bharat Bandh to escalate their protest over the demonetisation drive of the union government. They said they will observe November 28 as ‘Aakrosh Divas’. The opposition parties have been disrupting the proceedings in both Houses ..
ICICI Bank will launch its services through social website ‘Facebook’ in order to expand its internet banking services. ICICI is among the first banks to start its online presence and facilitate non-cash transactions i.e. requests for cheque books, account statement enquiry etc. The bank also plans to allow debit and credit transactions. The bank unveiled ..
From April 1, 2012, the cheques and bank drafts will have a life of just three months instead of the earlier six months. RBI has recently issues a notification that these instruments will have to be presented within three months from the date of issue as it has been brought to its notice by the ..