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Several relaxations brought in GP fund rules

New Delhi, March 20 (UNI) In a major relief for government employees, the Ministry of Personnel, Public Grievances and Pensions has announced that for withdrawing GP Fund a simple declaration by the employee would be sufficient now onwards where in previous days requirement of documentary proof was necessary.
According to the MoS in PMO, Personnel, Public Grievances, Pensions Dr Jitendra Singh, the liberalization in the GPF provisions was essentially meant to bring in ease of procedures, especially for activities like house building, education of children etc., thus making the rules more employee-friendly.
He said that the existing GP Fund (Central Service) Rules came into force way back in 1960 and even though certain amendments have been made from time to time to address the concerns raised, it was felt to be the need of the hour to bring in some more changes for the convenience of the Government employees.
Similarly, the minimum time limit for sanction and payment of GP Fund withdrawal would not be more than 15 days and in case of an emergency like illness, etc., it could only be 7 days.
Dr Jitender Singh said the limit of withdrawal also has been increased. Now the withdrawal for housing can be up to 90% of the balance at credit and withdrawal for purchase of vehicle could be up to three fourth of the balance at credit.
Dr Singh said, the Government expected its employees to work with full dedication, sincerity and diligence, but at the same time, it was also always seriously considering various means and provisions to provide them with a work-friendly environment and socio-economic stability, so that they may put in their best without any unnecessary distraction.
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Delhi HC notice to RBI, Govt, GSTC over circular to ban crypto currency

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22 Apr 2018 | 11:07 PM

New Delhi, April 22 (UNI) The Delhi High Court has issued notices to Reserve Bank of India (RBI), the Union Government and the GST Council on a plea challenging a recent circular of the RBI which withdrew banking support to Virtual Currency Exchanges like crypto currencies.

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Mahindra Electric and Meru join hands to deploy Electric Vehicles

22 Apr 2018 | 4:44 PM

Hyderabad, Apr 22 (UNI) On the occasion of Earth Day, Mahindra Electric, part of the diversified USD 19 billion Mahindra Group and Meru, the pioneer of tech enabled cab services on Sundy announced a collaboration for a pilot EV project in Hyderabad with the intention to replicate the same model in other cities soon.

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India's growth to expand 7 4 pc in next fiscal: RBI Governor

India's growth to expand 7 4 pc in next fiscal: RBI Governor

22 Apr 2018 | 2:10 PM

New Delhi, Apr 22 (UNI) India's growth is expected to expand at 7.4 per cent in the next fiscal, RBI Governor Urjit Patel said.

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Banks not investing enough on data infrastructue : Accenture

22 Apr 2018 | 1:04 PM

New Delhi, Apr 22 (UNI) A new report from technology major Accenture has found that many banks have not invested in the capabilities to verify the validity and accuracy of their data.

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IBC, RERA pitted against each other: Study

22 Apr 2018 | 10:50 AM

New Delhi, Apr 22(UNI) The two laws enacted in 2016 may have the best of intentions, but the Insolvency and Bankruptcy Code (Code) and the Real Estate (Regulation and Development) Act appear to be pitted against each other when it comes resolving interest of bankers and home-buyers, an ASSOCHAM- Thought Arbitrage paper said.

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