RBI Keeps Rates on Hold; Market Eyes Views on Liquidity, Inflation: The RBI held the repo rate, its key lending rate, at 4% and kept the reverse repo rate, the borrowing rate, unchanged at 3.35%. Mumbai: The Reserve Bank of India’s monetary policy committee kept interest rates steady at record lows on Friday, as widely predicted,…
NPCI unveils norms for banks to compensate AePS fraud victims The new NPCI guideline mandates the bank to reimburse the customer within three days Synopsis: During the course of the Covid-19 pandemic, several cases of fraud were reported in Jharkhand and Tamil Nadu in the direct benefit transfers (DBT) where government welfare funds meant…
Top banks queue up to offer low rates on home loans this festive season: Should you switch? Home-buyers have multiple choices this festive season. Top banks have reduced rates on new home loans, including balance transfers. If you intend to buy a house for self-use, this is the right time to do so. And, if…
No System Outage In Linking Aadhaar With PAN, PF: Biometrics Authority According to a statement by UIDAI, it was going through an essential security upgrade in its systems in a phased manner over the last week Over 51 lakh people have enrolled in last nine days since beginning of the upgrade process New Delhi: The…
EPFO invests Rs 7,715 crore in equity in April-June Employed provident fund orjoint representation was received from some trade unions on involving workers in the decision making process while investing in equity. Synopsis The EPFO can invest up to 15 per cent of investment in equity as per the Pattern of Investment notified by the…
national pension scheme is government approved pension system
As per the provisions of this scheme, the pensioners are given pension from the pooled account in which 8.33 per cent of the employee’s pay (statutory limit is Rs 15,000 per month) is contributed by the employer and 1.16 per cent of the employee’s…
Empowering South Asia with converging technologies Imagine this: The year is 2030 and Umair’s family in Bangladesh has been evacuated due to flash floods in his village and surrounding areas. They are temporarily accommodated along with others in a digitally fabricated house built by a local innovation hub. The house is equipped with a photovoltaic ‘skin’ to…