The software is being developed in association with the Central Record-keeping Agency. It is expected to debut by the end of this year. PFRDA is also looking to have an ombudsman for redressal of investor grievances. To increase liquidity of the scheme, there could also be Tier-II accounts by the end of this year, which would allow investors to withdraw money at any given point of time.
When taken at the right time it can prove to be your best friend during old age
Days after protests by war veterans, Prime Minister Narendra Modi on Saturday said that his government was committed to One Rank One Pension.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Directing the DISCOMS to make the payments to the employees within three months, the Delhi high court asked them to adopt a method to pay pension, gratuity, leave encashment etc.
The Congress won 40 seats in the 68-member Himachal Pradesh assembly while the BJP got 25 seats.
Dhrupadi Ghosh, who works for a magazine in Kolkata, tells Rediff.com's A Ganesh Nadar what she would like to see in Finance Minister Nirmala Sitharaman's Budget.
The normal operations, including payment and settlement activities in the Reserve Bank of India (RBI), are likely to be affected on Friday with its employee unions going on one-day strike to press their demands on pension.
The NPR data can be used for transparent and efficient delivery of social benefits by linking it with various beneficiary oriented government schemes, they said.
If re-elected, his government will set up a National Traders' Welfare Board, bring trader credit cards and a pension scheme for small shopkeepers besides making a provision to provide loans of up to Rs 50 lakh without collateral.
Finance Minister Pranab Mukherjee in likely to launch the scheme in the first week of July from Rai Bareli, the Lok Sabha constituency of Congress president Sonia Gandhi.
The Department for Promotion of Industry and Internal Trade (DPIIT) will soon start public consultation for a national retail trade policy, which is likely to include an insurance scheme aimed at providing financial protection against losses caused by theft, accidents or natural calamities. The policy will also spell out ways to give traders access to low-cost finance, promote digital inclusion, and create necessary infrastructure to support them, a senior government official told Business Standard. This is expected to offer relief especially to traditional traders, who are facing stiff competition from large e-commerce players.
The proposal had attracted strong criticism from the salaried class.
After the success of the National Highways Authority of India's (NHAI's) first infrastructure investment trust (InvIT) with foreign institutional investors, the Centre is working on a proposal to launch a fresh InvIT for national highways, where domestic retail investors can hold units of the trust
'Elections in Madhya Pradesh have so far largely avoided freebies.' 'But this time both the Congress and BJP are making such announcements.'
The state's joblessness is three times higher than the national average of 7.8 per cent.
A look at how people from different walks of life analyse the Budget.
A pension disbursing bank can access the portal to get digital life certificate.
The finance ministry on Wednesday allowed all private sector banks to participate in government-related business, like collection of taxes. pension payments and small savings schemes. At the moment, only few large private sector are allowed to conduct government-related business.
The Congress will conduct a caste census in Madhya Pradesh after winning the assembly polls and establish a university in the name of Sant Ravidas, said party president Mallikarjun Kharge, accusing the regime at the Centre of wishing to change the Constitution.
It had earlier proposed cutting it down to Rs 250 crore due to slow progress in enrollment of new employees.
A federation of various railway employee unions has decided to launch a countrywide 24-hour hunger strike on Tuesday to demand better package for railway employees and scrapping of new pension scheme.
The demands include better package for trackman, upgradation technician's grade, improvement of pay scales of running staff and clearance of arrears, among others.
West Bengal Chief Minister Mamata Banerjee on Saturday accused NIA officials of attacking villagers in Purba Medinipur district, the BJP hit back at her saying that the attack on the NIA officials is Sandeshkhalli 2.0 orchestrated by the state.
Fund houses are exploring ways to differentiate themselves in the hybrid space. A relatively unknown hybrid fund variant, Balanced Hybrid, is about to see its first launch since the introduction of mutual fund (MF) scheme categorisation norms in 2017. WhiteOak Capital MF has filed papers with the regulator for this scheme, which comes amid increasing interest in the hybrid space. MFs anticipate that hybrids will become the preferred category for investors with a lower risk appetite following changes in debt fund taxation.
Telecom and IT Minister Ravi Shankar Prasad said one of the primary focus areas of Digital India is Pillar 5: eKranti - electronic delivery of services.
About 70 ex-servicemen on Tuesday sat on a dharna at Jantar Mantar in New Delhi against the delay in implementation of the 'One Rank, One Pension' scheme even as the relay-hunger strike by retired soldiers on the issue entered its ninth day.
A portfolio can be rebalanced by either selling a portion of the outperforming asset class or by buying more of the underperforming asset class.
The social activist said the OROP issue was agreed upon by the government in 2014 but was not implemented.
The tax authorities and insurance regulator Irda are working on the possibility of removing Service Tax on first premium.
Employees of the State Bank of India will go on an indefinite strike countrywide from Monday demanding enhanced pension package.
Overseas Indian Affairs Minister Vayalar Ravi said the diaspora community has been contributing significantly to India's economy by sending billion of dollars in remittances and government is launching the scheme to support them on their return to the country.
Thousands of public sector bank employees across the country now have reason to rejoice.
Palanivel Thiaga Rajan was on Thursday relieved of the finance portfolio by Tamil Nadu Chief Minister M K Stalin.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
The government on Monday announced that it has credited revised pensionary benefits along with arrears under One Rank-One Pension scheme to more than 2 lakh pensioners drawing service and disability pensions.
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