Notifications (July 2021)

Notifications

THE GOVERNMENT KEEPS THE INTEREST RATE ON THE GPF (GENERAL PROVIDENT FUND) AT 7.1%

Following the decision to maintain the interest rate on central government-backed small savings schemes such as PPF, Sukanya Samriddhi Yojana, Post Office Savings, and others, the Narendra Modi government has now decided to maintain the interest rate on the General Provident Fund (GPF) and other non-government PF, Gratuity funds at 7.1 percent.

The interest rate on General Provident Fund (GPF) and other similar funds for Q2 of FY 2021-22, Interest on General Provident Fund (GPF), and other similar funds will be 7.1 percent from July 1, 2021, to September 30, 2021. This rate will take effect on July 1, 2021. GPF and other similar funds, including SDS, rate of interest, 1975 w.e.f. 1st April 2021 for the first quarter of the fiscal year 2021-22. The Ministry of Finance OM continued, “With effect from 1st April 2021 to 30th June 2021, deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation, and Gratuity Funds, announced in the Ministry of Finance (Department of Economic Affairs), will bear interest at 7.1 percent”. This rate will take effect on April 1, 2021. 

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BCI ANNOUNCES AMENDMENTS TO THE CODES OF CONDUCT AND ETIQUETTE FOR LAWYERS

The Bar Council of India has changed its rules to make ‘criticism’ and attack of Bar Council decisions by members misconduct that can result in a member’s disqualification, suspension, or removal from the Bar Council. According to the Amended Rules, which were published in the Gazette, an Advocate must conduct himself/herself like a gentleman/gentlewoman in their daily lives. 

That he/she will not commit any illegal acts. He/she shall not make any statement in print, electronic, or social media that is indecent or disparaging, defamatory or motivated, malicious or mischievous against any court, judge, or member of the judiciary, or against the State Bar Council or the Bar Council of India. No Advocate shall willfully violate, disobey, or defy any resolution or order of the State Bar Council or the Bar Council of India, and any such act/conduct shall be considered misconduct, and such Advocates may be prosecuted under Section 35 or 36 of the Advocates’ Act, 1961. 

The modifications, according to the Council, are intended to address issues relating to Advocate misbehavior and to strengthen the norms of professional conduct and etiquette for Advocates.

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