EPFO clause makes opting for higher pension nearly impossible [ad_1] (This story originally appeared in on Mar 04, 2023) NEW DELHI: Employees’ Provident Fund Organisation (EPFO) has activated its unified portal for subscribers to sign up for higher pension, but has thrown in procedural complexities that make it virtually impossible to apply. Responding to an RTI query on February 3, ...

RBI puts restrictions on Musiri Urban Co-operative Bank; caps withdrawal The Reserve Bank of India on Friday imposed a Rs 5,000 cap on withdrawals by individual customers from Tamil Nadu-based Musiri Urban Co-operative Bank as part of several restrictions slapped on the lender due to its deteriorating financial condition. The restrictions on the lender will ...

Axis Mutual Fund aim for Rs 50 cr from new fund in primary subscription Axis Mutual Fund aims to collect around Rs 50 crore from the new fund it is launching next Monday during the primary subscription period. The fund offer — Nifty G-Sec September 2032 index fund — is an open-ended target maturity debt ...

Rupee vs Dollar: Rupee records best one-day rise against US dollar in nearly 4 months The rupee strengthened sharply against the US dollar on Friday, registering its sharpest single-day rise since November 11, as overseas investors sold the greenback, largely for investment in Adani group shares, dealers said. An easing in the US dollar index ...

Foreign exchange reserves fall $325 million in a week to $560.94 billion The Reserve Bank of India’s (RBI’s) foreign exchange reserves declined by $325 million to $560.94 billion in the week ended February 24, latest central bank data showed. The slight fall in the reserves — for the fourth week in a row — was ...

PNB makes Positive Pay System must for cheques worth more than Rs 5 lakh In a move to safeguard customers from fraudulent payment of cheques, state-owned Punjab National Bank (PNB) has made the Positive Pay System (PPS) compulsory for cheque payments worth Rs 5 lakh and above. This will come into effect from April 5, ...

Rupee rises 36 paise to 82.24 against US dollar on foreign fund inflows The rupee gained 36 paise to 82.24 against the US dollar in early trade on Friday as fresh foreign fund inflows and a positive trend in domestic equities strengthened investor sentiments. At the interbank foreign exchange, the domestic unit opened at 82.28 ...

union budget 2023: Budget 2023: Indian shadow lenders call for rescue route from cumbersome compliance maze [ad_1] Non-Banking Financial Companies in India are finding it difficult to adhere to the compliance obligations set by the Reserve Bank of India (RBI). The forthcoming Budget, scheduled to be announced on February 1, 2023, may address the issues, including the lack of an ...

Finance Ministry exhorts banks to achieve targets of social security schemes for FY’23 [ad_1] The Finance Ministry on Thursday asked banks to achieve targets given under the flagship financial inclusion and social security schemes for the current financial year. The advisory was given to heads of public sector banks (PSBs) and financial institutions during the review meeting headed by Financial ...

10 new mutual fund offers or NFOs currently open. Should you invest? [ad_1] Mutual fund houses have been busy launching new schemes lately. The buzz has caught the attention of many investors, too. At least 10 new fund offers or NFOs are open for subscription in the market. Four fixed maturity plans (FMPs), three gilt funds, MNC fund, dividend yield ...