Saturday, 20 February 2016
Thursday, 11 February 2016
Wednesday, 10 February 2016
Sunday, 15 November 2015
Everything you need to know about Three gold monetization Schemes
India is the world's largest buyer of gold with estimated holdings of 20,000 tonnes, worth over Rs 55 lakh crore.
The three schemes launched by PM Narendra Modi on Thursday, and described as "sone pe suhaga", are meant to recycle a part of the huge pile of unused gold and reduce import of coins and bars.
A part of the gold collected through the monetisation scheme will be lent or sold to MMTC and RBI for minting of coins and auction.
Fine Points
Premature withdrawal: Allowed after minimum lock-in period with penalty
Investment limit: Min 30 gram of jewellery, bars, coins. No maximum limit
Where to begin
1. Go to BIS-certified Collection and Purity Testing Centres
2. Comply with KYC (know-your-customer) norms and regulations
3. Bank will issue deposit certificate equivalent to 995 fineness of gold
Features
Tenure: Eight years
Premature exit: Allowed from fifth year
Interest rate: 2.75% a year, payable semiannually on the initial value of investment for the bonds issued in 2015-16
Investment limit: Minimum of 2 units (equal to 2 gram) and max of 500 gram in a financial year.
Where to buy: Banks and designated post offices
How Sovereign Gold Bond Works
Premature exit: Allowed from fifth year
Interest rate: 2.75% a year, payable semiannually on the initial value of investment for the bonds issued in 2015-16
Investment limit: Minimum of 2 units (equal to 2 gram) and max of 500 gram in a financial year.
Where to buy: Banks and designated post offices
How Sovereign Gold Bond Works
1. Price linked to previous week's (Monday-Friday) simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Ltd. Redemption price to be based on same formula
2. Comply with KYC norms — Voter ID, Aadhaar Card, PAN, TAN , Passport
3. Payment through electronic transfer, cash payment, by cheque or demand draft
4. Investors to get stock/holding certificate. Bonds can also be kept in demat form
5. They can be used as collateral for loans
Distributor's Commission
India Gold Coins
Purity: 24 karat, 999 fineness
Where to buy: Initially available at designated and recognised
MMTC outlets. Will be sold through banks and post offices later
Draft Gold Monetization Scheme Download
Friday, 30 October 2015
SHRAMEV JAYATE KARYAKRAM
a Shram Suvidha portal, Labour Inspection scheme and Portability through Universal Account Number (UAN) for Employees Provident Fund (EPF)
A dedicated Shram Suvidha Portal: That would allot Labour Identification Number (LIN) to nearly 6 lakhs units and allow them to file online compliance for 16 out of 44 labour laws
·An all-new Random Inspection Scheme: Utilizing technology to eliminate human discretion in selection of units for Inspection, and uploading of Inspection Reports within 72 hours of inspection mandatory
· Universal Account Number: Enables 4.17 crore employees to have their Provident Fund account portable, hassle-free and universally accessible
·Apprentice Protsahan Yojana: Will support manufacturing units mainly and other establishments by reimbursing 50% of the stipend paid to apprentices during first two years of their training
· Revamped Rashtriya Swasthya Bima Yojana: Introducing a Smart Card for the workers in the unorganized sector seeded with details of two more social security schemes
Bills Passed in 2015
Recent Acts and Amendments
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