Finance Minister P Chidambaram on Tuesday asked Left parties to reconsider their opposition to the pension bill so that government can provide a "legal basis" to the new pension system started last year.
Ask your HR department for details about the fund, trustees and returns
The ICICI board is looking to the retired petroleum secretary to provide 'maturity and sagacity'.
UTI Mutual Fund plans to foray into the pension sector once the government sets up Pension Fund Regulatory and Development Authority in October this year.
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
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.
'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.
Officials said Sebi first proposed to the FinMin to amend the relevant provisions in the Sebi Act to discontinue RBI's representation on its board, as it already has adequate presence of government nominees and in its over 25 years of existence the regulator has evolved as an "effective and one of the best in the world".
The withdrawal right is hemmed by many conditions.
Right now there are about 30 lakh (3 million) subscribers under the Swavalamban scheme.
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 idea of retirement planning with a pension plan assures regular income to the policyholder in the form of pension or annuity.
The Coal Regulatory Authority Bill, 2013, needs Parliamentary approval and is to be introduced in the next session, P Chidambaram told reporters.
The abolition of wealth tax is again a welcome step.
The proposal is currently with the finance department and is expected to be placed before the Cabinet in the coming days.
Experts have started giving comments on provisions that the govt must make in Budget 2016-17.
The scrutiny is expected to be over this month itself.
The levy has also been removed on low cost houses up to a carpet area of 60 square metres in a housing project under any housing scheme of the state government.
The pension fund managers distribute products under the National Pension System.
Consumers will thank the Modi government for this simple yet revolutionary move, which is long overdue, says Debashis Basu.
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.
The finance ministry is working on a Cabinet note for establishing a full-fledged Public Debt Management Office, officials told Business Standard.
Indian regulators have identified certain groups as 'financial conglomerates' and they are being monitored closely for any systemic risks they may pose.
The Union government is keen to ensure financial security for unorganised sector workers
A theory that is doing the rounds is that with election nearing, this depreciation of the rupee will allow politicians of all hues to bring back their ill-gotten wealth.
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