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Pension Fund Regulatory And Development Authority
Pension Fund Regulatory and Development Authority is the regulatory body under the jurisdiction of Ministry of Finance , Government of India for overall supervision and regulation of pension in India. The Government of India had, in the year 1999, commissioned a national project titled "OASIS" (an acronym for old age social & income security) to examine policy related to old age income security in India. Based on the recommendations of the OASIS report, Government of India introduced a new Defined Contribution Pension System for the new entrants to Central/State Government service, except to Armed Forces, replacing the existing system of Defined Benefit Pension System. On 23 August 2003, Interim Pension Fund Regulatory & Development Authority (PFRDA) was established through a resolution by the Government of India to promote, develop and regulate pension sector in India. The contributory pension system was notified by the Government of India on 22 December 2003, now named the Nati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regulatory Body
A regulatory agency (regulatory body, regulator) or independent agency (independent regulatory agency) is a government authority that is responsible for exercising autonomous dominion over some area of human activity in a licensing and regulating capacity. These are customarily set up to strengthen safety and standards, and/or to protect consumers in markets where there is a lack of effective competition. Examples of regulatory agencies that enforce standards include the Food and Drug Administration in the United States and the Medicines and Healthcare products Regulatory Agency in the United Kingdom; and, in the case of economic regulation, the Office of Gas and Electricity Markets and the Telecom Regulatory Authority in India. Legislative basis Regulatory agencies are generally a part of the executive branch of the government and have statutory authority to perform their functions with oversight from the legislative branch. Their actions are often open to legal review. R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
APJ Abdul Kalam
Avul Pakir Jainulabdeen Abdul Kalam (; 15 October 193127 July 2015) was an Indian aerospace scientist and statesman who served as the 11th President of India from 2002 to 2007. He was born and raised in Rameswaram, Tamil Nadu and studied physics and aerospace engineering. He spent the next four decades as a scientist and science administrator, mainly at the Defence Research and Development Organisation (DRDO) and Indian Space Research Organisation (ISRO) and was intimately involved in India's civilian space programme and military missile development efforts. He thus came to be known as the ''Missile Man of India'' for his work on the development of ballistic missile and launch vehicle technology. He also played a pivotal organisational, technical, and political role in India's ''Pokhran-II'' nuclear tests in 1998, the first since the original nuclear test by India in 1974. Kalam was elected as the 11th president of India in 2002 with the support of both the ruling Bharat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension Regulation
Pension regulation is a legal term encompassing, the set of laws, rules and authoritative standards governing the pension industry, and the procedures needed to enforce them. Pension regulation varies widely from one jurisdiction to another - notably due to the persistence of discrepancies in the degree of autonomy and breadth of authority and discretionary power that national and regional pension regulators have at their disposal to enforce efficiently existing laws and regulations, in relation with local judicial practices and varying jurisprudential trends. Pension regulation seeks to provide the various norms and standards needed to foster market efficiency, consistency, transparency and accountability across the pension industry; it is a key driver of pension funds' risk management. In Europe, in the wake of the 2008-2009 financial crisis, some pension experts such as Anton van Nunen have argued that excessive or misplaced regulatory activism can sometimes have negative unint ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regulatory Agencies Of India
Regulation is the management of complex systems according to a set of rules and trends. In systems theory, these types of rules exist in various fields of biology and society, but the term has slightly different meanings according to context. For example: * in biology, gene regulation and metabolic regulation allow living organisms to adapt to their environment and maintain homeostasis; * in government, typically regulation means stipulations of the delegated legislation which is drafted by subject-matter experts to enforce primary legislation; * in business, industry self-regulation occurs through self-regulatory organizations and trade associations which allow industries to set and enforce rules with less government involvement; and, * in psychology, self-regulation theory is the study of how individuals regulate their thoughts and behaviors to reach goals. Social Regulation in the social, political, psychological, and economic domains can take many forms: legal restrictions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services In India
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability ass ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-Resident Indians
Overseas Indians (IAST: ), officially Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs) are Indians who live outside of the Republic of India. According to the Government of India, ''Non-Resident Indians'' are citizens of India who are not living in the country, while the term ''People of Indian Origin'' are people of Indian birth or ancestry who are not citizens of India, but are citizens of other nations and may additionally have Overseas Citizenship of India (OCI), with those having the OCI status known as ''Overseas Citizens of India''. According to a Ministry of External Affairs report, there are 32 million NRIs and OCIs residing outside India and overseas Indians comprise the world's largest overseas diaspora. Every year 2.5 million (25 lakhs) Indians migrate overseas, which is the highest annual number of migrants in the world. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Bank Of India
The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for the control, issue and maintaining supply of the Indian rupee. It also manages the country's main payment systems and works to promote its economic development. Bharatiya Reserve Bank Note Mudran (BRBNM) is a specialised division of RBI through which it prints and mints Indian currency notes (INR) in two of its currency printing presses located in Nashik (Western India) and Dewas (Central India). RBI established the National Payments Corporation of India as one of its specialised division to regulate the payment and settlement systems in India. Deposit Insurance and Credit Guarantee Corporation was established by RBI as one of its specialised division for the purpose of providing insurance of deposits and guaranteeing of credit facilit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Pension Scheme
National Pension System Trust (NPS Trust) is a specialised division of Pension Fund Regulatory and Development Authority which is under the jurisdiction of Ministry of Finance of the Government of India. The National Pension System (NPS) is a voluntary defined contribution pension system in India. National Pension System, like PPF and EPF is an EEE (Exempt-Exempt-Exempt) instrument in India where the entire corpus escapes tax at maturity and entire pension withdrawal amount is tax-free. NPS started with the decision of the Government of India to stop defined benefit pensions for all its employees who joined after 1 April 2004. While the scheme was initially designed for government employees only, it was opened up for all citizens of India between the age of 18 and 65 in 2009, for OCI card holders and PIO's in October 2019. On 26 August 2021, PFRDA increased the entry age for the National Pension System (NPS) from 65 years to 70 years. As per the revised norms, any Indian C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rajya Sabha
The Rajya Sabha, constitutionally the Council of States, is the upper house of the bicameral Parliament of India. , it has a maximum membership of 245, of which 233 are elected by the legislatures of the states and union territories using single transferable votes through open ballots, while the president can appoint 12 members for their contributions to art, literature, science, and social services. The potential seating capacity of the Rajya Sabha is 245 (233 elected, 12 appointed), according to article 80 of the Indian Constitution. Members sit for staggered terms lasting six years, with about a third of the 238 designates up for election every two years, in even-numbered years. The Rajya Sabha meets in continuous sessions, and unlike the Lok Sabha, being the lower house of the Parliament, the Rajya Sabha is not subjected to dissolution. However, the Rajya Sabha, like the Lok Sabha, can be prorogued by the president. The Rajya Sabha has equal footing in legislation with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lok Sabha
The Lok Sabha, constitutionally the House of the People, is the lower house of India's bicameral Parliament, with the upper house being the Rajya Sabha. Members of the Lok Sabha are elected by an adult universal suffrage and a first-past-the-post system to represent their respective constituencies, and they hold their seats for five years or until the body is dissolved by the President on the advice of the council of ministers. The house meets in the Lok Sabha Chambers of the Sansad Bhavan, New Delhi. The maximum membership of the House allotted by the Constitution of India is 552 (Initially, in 1950, it was 500). Currently, the house has 543 seats which are made up by the election of up to 543 elected members and at a maximum. Between 1952 and 2020, 2 additional members of the Anglo-Indian community were also nominated by the President of India on the advice of Government of India, which was abolished in January 2020 by the 104th Constitutional Amendment Act, 2019. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pranab Mukherjee
Dr. Pranab Mukherjee (11 December 193531 August 2020) was an Indian politician and statesman who served as the 13th president of India from 2012 until 2017. In a political career spanning five decades, Mukherjee was a senior leader in the Indian National Congress and occupied several ministerial portfolios in the Government of India. Prior to his election as President, Mukherjee was Union Finance Minister from 2009 to 2012. He was awarded India's highest civilian honour, the Bharat Ratna, in 2019, by his successor as president, Ram Nath Kovind. Mukherjee got his break in politics in 1969 when the then Prime Minister Indira Gandhi helped him get elected to the Rajya Sabha, the upper house of Parliament of India, on a Congress ticket. Following a meteoric rise, he became one of Gandhi's most trusted lieutenants and a minister in her cabinet in 1973. Mukherjee's service in a number of ministerial capacities culminated in his first stint as Finance Minister of India in 1982–84. H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jayalalitha
Jayaram Jayalalithaa (24 February 1948 – 5 December 2016) was an Indian politician and actress who served as Chief Minister of Tamil Nadu for more than fourteen years over six terms between 1991 and 2016. From 9 February 1989 to 5 December 2016, she was the 5th and longest-serving general secretary of the All India Anna Dravida Munnetra Kazhagam (AIADMK), a Dravidian party whose cadre revered her as their "'" (Mother) and "'" (Revolutionary leader). Her critics in the media and the opposition accused her of fostering a personality cult and of demanding absolute loyalty from AIADMK legislators and ministers, who often publicly prostrated themselves before her. Overview Jayalalithaa rose to prominence as a leading film actress in the mid-1960s. Though she had begun her acting career reluctantly at her mother's behest to support the family, Jayalalithaa was a prolific actor. She appeared in 140 films between 1961 and 1980, primarily in the Tamil, Telugu and Kannada language ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
