'GIFT City is now on a growth trajectory,' says Tapan Ray, MD and group CEO, GIFT City, 'The time has come for the GIFT City to take the big leap and emerge as the next financial hub of Asia.'
Since NPS is used for a long-term goal like retirement, allowing younger investors to have higher exposure to equities will give them a chance to earn higher returns.
RBI Governor cautioned against more volatility.
According to official statistics, half of India's GDP comes from as many as 420 million workers in the unorganised sector including street vendors, rickshaw pullers, construction workers, rag pickers, agricultural workers, among others. This massive workforce remains outside the purview of the formal banking and insurance industries.
The 21st meeting of FSDC comes against the backdrop of the economy hitting a six-year low growth rate of 5 per cent in the first quarter of 2019-20. Even some of the macroeconomic data for the second quarter does not portray an encouraging picture of the economy.
Now govt employees to enjoy greater say in how their NPS corpus is invested. Younger employees should raise their allocation to equities in this very long-term investment instrument
The PFRDA Act would give statutory status to the pensions sector regulator, and in addition to other objectives, aims to address apprehensions regarding safety and yield under the National Pension System.
Government is framing a rule that will make it compulsory for regulators like Sebi, Irdai and PFRDA to deposit a significant portion of their reserves into the Consolidated Fund of India.
In a last ditch attempt before the issue moves to a larger Constitutional bench, the government on Wednesday made a fresh pitch before Supreme Court for allowing voluntary use of Aadhaar cards for welfare schemes, saying it was prepared to give an affidavit by the "highest functionary" by Thursday morning that nobody will be deprived of benefits for lack of it.
With barely a week left, the session has been able to accomplish next to no legislative business, says Aditi Phadnis
Congress senior leaders concede that UPA could be safe in terms of numbers but that does not solve problem totally
Raise in NPS entry age gives seniors another retirement-saving option but they should invest at least Rs 50,000 to avail of the additional tax benefit scheme provides, reports Sanjay Kumar Singh
Taxation has played spoilsport despite double digit returns.
The Supreme Court on Thursday assured the Centre and bodies like SEBI and RBI that it will take a decision by Friday evening on their plea seeking setting up a larger bench for modifying an earlier order restricting the voluntary use of Aadhaar card to PDS and LPG schemes only.
Raising equity exposure to 50 per cent in the National Pension Scheme will benefit young investors, provided they can stomach higher volatility.
The idea of retirement planning with a pension plan assures regular income to the policyholder in the form of pension or annuity.
Whatever the outcome of the assembly election in Rajasthan, Ashok Gehlot is firmly ensconced in the Congress inner circle.
From April 1, subscribers will be able to change investment option & asset allocation twice a year, instead of once. Use greater flexibility offered by pension scheme judiciously.
Finance Minister Arun Jaitley, who wants pension and insurance funds to invest more in equities and infrastructure.
'Space out when raising funds; Sebi mulls securitisation platform'
The proposal is currently with the finance department and is expected to be placed before the Cabinet in the coming days.
Since there are many and complicated choices, retail investors stand to benefit
Now that the National Pension Scheme offers more choices than the Employees Provident Fund, is more transparent and also allows to choose the level of allocation to equities as investors like, should one switch to the NPS?
Tax-saving investments should not be made with the sole purpose of saving tax, but should also help an individual grow his wealth, suggests Archit Gupta, founder and CEO, ClearTax.
The government has not done its homework or made any attempt to forge a consensus on this matter that affects millions of people in the organised sector, says Harsh Roongta.
The Financial Stability and Development Council meeting on Tuesday started with an air of tension in the room. An official present described the participants' body language as "tetchy". However, once presentations and discussions begun, the mood considerably eased.
The pension fund managers distribute products under the National Pension System.
T C A Anant, former chief statistician to the government, will soon be heading a panel to decide whether the monthly payroll data released by EPFO, ESIC and PFRDA could replace the quarterly enterprises-based survey on job creation by the labour bureau, the prime minister's office decided last week.
The term of the last chairman of the pension regulator, Yogesh Agarwal, was cut short by the finance ministry in November.
The aggressive life cycle fund will allow equity exposure of up to 75%, up from the current limit of 50%.
Ask your HR department for details about the fund, trustees and returns
The Prime Minister's Office has decided to set up a panel, led by former chief statistician T C A Anant, to deliberate on whether the enterprise-level quarterly data, which is released by the labour bureau, should be discontinued.
The United Progressive Alliance government's confidence about getting legislative business done in the monsoon session of Parliament, beginning August 5, might be misplaced.
The Financial Sector Legislative Reforms Commission had in a report last year proposed a unified regulator for the entire financial sector -- markets, insurance, commodities and pension. It had, however, proposed to keep banking out of its purview for now.
PFRDA will invite bids to appoint pension fund managers.
The finance ministry is working on a Cabinet note for establishing a full-fledged Public Debt Management Office, officials told Business Standard.
Restrict investment to Rs 50,000 for tax benefits, experts tell Sanjay Kumar Singh, but caution that taxation at maturity and compulsory annuities are dampers.
'When we say we want to increase pension participation, do we want to increase participation through the savings route?' 'Or do we want people to save in specific pension products?' asks Renuka Sane.
The withdrawal right is hemmed by many conditions.
Managing expectations is a challenge for policymakers.
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