The Things You Should Know

After the 1962 Sino-Indian war and 1965 Indo-Pak war, the Government took over the properties of those who migrated from the India. These 'enemy properties' were took over by the Center via the 'Enemy Property Act 1968'. The Enemy Property (Amendment & Validation) Bill 2016 is the further amendment of 'The Enemy Property Act 1968'. The main objective of the 'Enemy Property Act 1968' was 'to provide for the continued vesting of enemy property vested in the Custodian of Enemy Property for India under the Defence of India Rules, 1962, and for matters connected therewith.' Who is enemy: "enemy" or "enemy subject" or "enemy firm" means a person or country who or which was an enemy, an enemy subject or an enemy firm, as the case may be, under the Defence of India Act, 1962, and the Defence of India Rules, 1962, but does not include a citizen of India; What is enemy property: "enemy property" means ...

Currently the Anti Defection law is again the topic of the debates after the Uttrakhand crisis. What is Anti Defection law and what is its importance let us analyse. What is Anti Defection Law: Anti Defection Law explains the procedure on which the member of the Parliament or the member of the State Legislature disqualified on the ground of defection. Tenth Schedule of the Indian Constitution popularly known as Anti Defection Law. It was introduced by the 52nd Constitutional Amendment Act 1985. Tenth Schedule of Indian Constitution provides provisions as to disqualification on the ground of defection. Schedule 10 covers two Articles, Article 102(2) and Article 191(2). Article 102(2):   A person shall be disqualified for being a member of either House of Parliament if he is so disqualified under the Tenth Schedule. Article 191 (2):  A person shall be disqualified for being a member of the Legislative Assembly or Legislative Council of a State if he is so disqualifie...

Panchayati Raj in India introduced by the Constitutional Amendment in 1992. The Panchayati Raj Institutions were there before the 73rd Constitutional Amendment Act 1992, but these institutions had not been able to aquire the status and the dignity of viable and responsible people's bodies due to number of reasons including absence of regular elections, prolonged supersessions, insufficient representation of weaker section like Schedule Casts, Schedule Tribes and women, inadequate devolution of powers and lack of financial resources. Article 40 of Indian Constitution which implements one of the Directive Principles of the State Policy states that the states should take steps to organize village panchayats and  endow them  with  such powers and authority as may be necessary to enable them to function as  units  of self-government .   The Panchayati Raj is a three tier system. 1. Zilla Panchayat:   Each block Panchayat under a Zilla Panchay...

At a time when many states are under the effect of drought, President Pranab Mukherjee today on 23rd April 2016, recommended the consideration of private member's bill that will provide fight for the farmers of arid and desert areas with an initial corpus of 10,000 crore. The Farmers of Arid and Desert Areas (Welfare and Other Special Provisions) Bill, 2014 was introduced by the senior Congress leader and member of Rajya Sabha from Gujarat Mr Ahmed Patel in Rajya Sabha in December 2014. The main objective of  this bill is "to provide for the protective measures and special facilities for the farmers of arid, desert and drought prone areas, who are often affected by the natural calamities causing loss of crops, livestock etc, making them vulnerable to indebtedness, diseases and physical infirmities, exploitation by moneylenders and others, by extending measures by the Central and State Governments for them, for the establishment of welfare fund, for the removal of ...

The Indian Constitution consists of Preamble, 448 Articles, 12 Schedules, 5 Appendices, and 100 Amendments.  Schedules:- First Schedule : Articles 1 & 4 The First Schedule contains the details of the States and Union territories of India. It contains the names of the states and territorial jurisdiction. Second Schedule: Articles 59(3), 65(3), 75(6), 97, 125, 148(3), 158(3), 164(5), 186 & 221 Part A: Provisions relating to the allowance, emoluments, privileges of the President of India and the Governors of States Part B: [Repealed] Part C: Provisions as to the Speaker and the Deputy Speaker of the house of the people and the Chairman and the Deputy Chairman of the Council  of the States and the Speaker and the Deputy Speaker of the Legislative Assembly and the Chairman and the Deputy Chairman of the Council of a State. Part D: Provisions as to the Judges of the Supreme Court and of the High Courts Part E: Provisions as to the Comptroller and Auditor Gene...

The Securities and Exchange Board of India was established on 12th April 1988 and given statutory power under the "Securities and Exchange Board of India Act 1992" passed by the Parliament. The SEBI was given additional statutory powers by the Government of India in 1995. The SEBI was established to stop the malpractice inside the stock market. The main objective of SEBI is to protect the interest of investors, promote the development of stock market and regulate the securities market.  Headquarter : Mumbai, Maharashtra Chairman : Upendra Kumar Sinha Management of the Board: The board consists following members. Chairman Two members amongst the officials of the Ministry of the Central Government dealing with Finance and administration of the Companies Act, 1956. One member from amongst the officials of the Reserve Bank. Five other members of whom at least three should be the full time members. to be appointed by the Central Government. Functions of the Boa...

On Tuesday 5th April 2016, The Governor of Reserve Bank of India Mr Raghuram Rajan announced the first monetary policy review of financial year 2016-17. Here are the key announcements made by Raghuram Rajan. The RBI cut its key lending rate - the repo rate (Repo rate is the rate at which the central bank i.e RBI lends money to commercial banks) - by 25 basis point. The repo rate is now 6.50%, at 5 years low. However the market expected a 50 basis point cut. RBI didn't change the cash reverse ratio (CRR- is the minimum fraction of total customer deposits, which commercial banks have to hold as reserves either in cash or as deposit with the RBI) and maintained CRR at 4%. RBI reduced minimum daily maintenance of CRR from 95% of the average daily required reserves for a reporting fortnight to 90% with effect from April 2016. RBI reduced the marginal standing facility (MSF - is a rate at which the scheduled banks can borrow fund overnight from RBI against Government securities...

What is IRDA:   IRDA stands for Insurance Regulatory and Development Authority of India . IRDA was constituted in 1999 by the Insurance Regulatory and Development Authority Act 1999 as an autonomous body to regulate and develop the Insurance industry in India. IRDA was constituted on the recommendations of Malhotra Committee. The Government of India set up a committee under the chairmanship of R N Malhotra, former Governor of RBI, to study the liberalization process in Insurance sector in India. The Committee submitted its report in 1994 and recommended that private companies should be allowed in Insurance sector. The Government accepted Committee’s recommendations and set up Insurance Regulatory Authority to show the path for privatization in Insurance sector. The main objective was the development of Insurance sector covering all sections of the society.The name of Insurance Regulatory Authority was later changed to Insurance Regulatoru and Development Authority....