A five judge Constitution Bench of the Supreme Court passed a ruling that cooperative banks established under a State law or multi-State level societies come under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act of 2002.
In this regard, the Section 2(1)(c) of SARFAESI Act of 2002 empowers the cooperative banks with recovery procedures including seize and sell defaulters' assets.The recovery procedure u/s (under section) 13 of the Act is also applicable to such banks.
May 06, 2020
Jharkhand Unveils Three Schemes to Add Rural Jobs
Three days after the first batch of stranded migrants returned to the state, chief minister Hemant Soren launched three employment schemes for more than six lakh migrant labourers who are returning to the state in a phased manner.
Aimed at reviving the rural economy which has been hit badly by the ongoing lockdown, the three new schemes — Birsa Harit Gram Yojana, Neelambar Pitambar jal Sammridhi Yojana and Poto Ho Khel Vikas Yojana — will be run by the rural development department under the MNREGA mission.
May 03, 2020
HP Govt to Launch Employment Scheme for Urban Areas
Looking to revive the coronavirus-hit economy of the state, the Himachal Pradesh government decided to launch a programme guaranteeing at least 120 days'' employment to those living in urban areas.
The cabinet decided to launch the Mukhya Mantri Shahari Rojgar Guarantee Yojna, under which 120 days'' assured employment will be provided to people living in urban areas.
May 02, 2020
'One Nation, One Ration Card' Scheme: 5 More States Join the Initiative
Five more states, including Bihar, UP, Punjab, Himachal Pradesh and Daman and Diu, have been integrated with the 'one nation, one ration card' scheme Food Minister Ram Vilas Paswan said.
Under the 'one nation, one ration card' initiative, eligible beneficiaries would be able to avail their entitled food grains under the National Food Security Act (NFSA) from any fair-price shop in the country. The scheme was announced in June, 2019.
Apr 29, 2020
'Vidya Deevena' Scheme to Benefit 14 Lakh College Students in Andhra Pradesh
Chief Minister Y.S. Jagan Mohan Reddy launched 'Jagananna Vidya Deevena', a fee reimbursement scheme that would benefit 14 lakh college students in the State.
From the 2020–21 academic year, the fee reimbursement amount would be credited directly into the accounts of the mothers instead of that of the students in four instalments.
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