CORONA VIRUS OUTBREAK

MINISTRY OF HOME AFFAIRS (MHA) ISSUES REVISED GUIDELINES FOR LOCKDOWN 2.0

The Home Ministry on Wednesday issued guidelines for lockdown 2.0 allowing certain sectors to function from April 20 in order to ease public hardship in the wake of COVID-19 outbreak. While, the air, rail and inter-state travel remains suspended, the government has allowed agricultural activties, health services and industries operating in rural area are also …

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FAQs ON CENTRAL GOVT. RELIEF FOR EPF AND EPS CONTRIBUTIONS (24% OF WAGES)

Ministry of Labour & Employment, Government of India, Employees’ Provident Fund Organization, India has issued FAQ’s on Pradhan Mantri Garib Kayan Yojana Package. Frequently Asked Questions On Central Govt. Relief For Employees’ And Employers’ Contribution For Three Months To Low Wage Earning Epf Members Employed In Establishments With Employment Strength Upto One Hundred. Q 1 …

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MCA

MCA ISSUES COVID-19 RELATED FAQs ON CSR CONTRIBUTION

The Ministry of Corporate Affairs vide General Circular No. 15/2020, F. No. CSR-01/4/2020-CSR-MCA dated 10th April, 2020 has issued and published COVID-19 related Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR). Major Update : “‘Chief Minister’s Relief Fund’ or ‘State Relief Fund for COVID-19’ is not included in Schedule VII of the Companies Act, …

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ALL YOU NEED TO KNOW ABOUT “VIVAD SE VISHWAS SCHEME, 2020”

INTRODUCTION : Inspired by “The Sabka Vishwas Scheme” which resolved many indirect tax disputes, our Finance Minister tabled the “Vivad Se Vishwas Bill, 2020” in parliament on February 5, 2020. BACKGROUND ANALYSIS : Over the years, the pendency of appeals filed by taxpayers as well as Government has increased due to the fact that the …

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IMPORT OF GOODS, ACCESSORIES REQUIRED IN CORONA TREATMENT EXEMPTED FROM BASIC CUSTOMS DUTY : MINISTRY OF FINANCE

The exemption is effective immediately. In a statement issued by the Ministry said that after considering the urgent need of ventilators and other materials in the country, the Central Government has exempted these goods from the cess and basic customs duty. According to the order of the Ministry of Finance, ventilators, face masks, surgical masks, …

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Reserve Bank of India imposes monetary penalty on State Bank of India

SBI’s BIG DECISION ON EMI AFTER ANNOUNCEMENT OF RBI. CUSTOMERS WILL GET RELIEF

The RBI made several important announcements on Friday to save the economy from the Corona Crisis. SBI has also made a big announcement regarding EMI. SBI has deferred three installments of EMI of borrowers. For this, the customer does not need to apply to the bank. At the same time, the situation is not clear …

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RBI RELAXATION DUE TO COVID-19 PANDEMIC

(1.) Targeted Long Term Repos Operations (TLTROs) : Reserve Bank will conduct auctions of targeted term repos of up to three years tenor of appropriate sizes for a total amount of up to Rs. 1,00,000 crore at a floating rate linked to the policy repo rate. (2.) Repo rate reduce – Repo rate cut by …

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RBI CLARIFICATION : NOT JUST EMI, CREDIT CARD DUES WILL ALSO BE COVERED UNDER THREE MONTHS MORATORIUM

The Reserve Bank of India has clarified that all lending institutions are permitted to grant a moratorium of three months on payments of all installments on term loans, including credit cards. The RBI on Friday (Mar 27) announced that all banks will be permitted to allow a three-month moratorium on payment of installments of all …

RBI CLARIFICATION : NOT JUST EMI, CREDIT CARD DUES WILL ALSO BE COVERED UNDER THREE MONTHS MORATORIUM Read More »

RBI’S EMI MORATORIUM : WILL MY INSTALLMENT BE DEDUCTED? ARE CREDIT CARD BILLS SUSPENDED? AND OTHER QUESTIONS ANSWERED

>> The RBI today allowed banks to offer a moratorium on all term loans. >> The step was taken in light of the COVID-19 outbreak and the subsequent lockdown. The Reserve Bank of India (RBI) today allowed all financial institutions to allow a three-month moratorium for all term loans in light of the COVID-19 outbreak …

RBI’S EMI MORATORIUM : WILL MY INSTALLMENT BE DEDUCTED? ARE CREDIT CARD BILLS SUSPENDED? AND OTHER QUESTIONS ANSWERED Read More »