'Self-declaration from the customer in case of no change in KYC information or change only in the address details may be obtained.'
The Supreme Court came down heavily on the Centre on Tuesday for failing to take any decision for years on the pension payable to retired regular captains of the Army in accordance with the One Rank One Pension (OROP) scheme and imposed a fine of Rs 2 lakh on it.
Equity-focused schemes may perform better in a bull market, while debt-oriented ones may offer greater stability during volatile periods.
India's BFSI sector is set for robust growth, with hiring projected to rise 8.7 per cent in 2025-26 and touch 10 per cent by 2030, creating nearly 2.5 lakh permanent jobs, a report said on Thursday. This growth in the Banking, Financial Services, and Insurance (BFSI) sector is being driven by rising demand in tier II and III cities, marking a clear shift from metro-centric recruitment.
There have been multiple instances of the same entity appearing as both a public shareholder as well as under the promoter classification in some listed companies. And this dual-classification happened in the same quarter, according to data compiled by primedatabase.com.
The Union finance ministry has rejected a proposal sent by the labour ministry to double the monthly minimum pension amount to Rs 2,000 under the Employee Pension Scheme (EPS). The Central Board of Trustees (CBT), the apex decision-making body of the Employee Provident Fund Organisation (EPFO), was apprised of the proposal's rejection during a meeting on Saturday. "According to the recommendations made by a highly-empowered monitoring committee constituted by the government, a proposal to increase the minimum pension under EPS from Rs 1,000 to Rs 2,000 per month, by providing additional budgetary support, was sent to the ministry of finance.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Equity benchmarks face a key test as investors weigh consumption revival hopes against tariff pressures and weak earnings. Amidst this, HSBC has outlined tailwinds and risks that could cap gains.
Turning down the suggestion of Parliamentary Standing Committee, the Union Cabinet also decided that there would be no guarantee of assured returns on schemes by pension funds.
Let's Make Savings As Exciting As Spending. This World Savings Day, rediffGURUS Nitin Narkhede, Milind Vadjikar and Ramalingam Kalirajan are all set to answer your queries on savings and investments.
'Reits are suitable for investors seeking regular income and real estate exposure without managing physical properties, especially NRIs and retirees.'
Faced with a deadlock over the Pension Fund Regulatory and Development Authority Bill due to stiff opposition from the Left parties, the government is contemplating to bring a separate Bill on pension funds for private sector employees.
The proposed PFRDA bill, aimed at setting up a regulator and manage a new pension system, will not allow pension schemes to invest their money in individual stocks.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Part of the dues has been pending since 1995-96 - the inception year of the Employees' Pension Scheme administered by the EPFO. The Centre also owes the EPFO more than Rs 1,000 crore towards the minimum pension scheme it had notified in September 2014.
Survey rejects EPFO as pension regulator
Decks have been cleared for the long-awaited pension reforms with the union cabinet on Thursday giving approval to a proposal to bring in legislation for setting up a separate regulator for the sector. \n
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Finance Minister Jaswant Singh said on Friday interest rates on pension funds needed to be brought in line with declining interest rates in the market.
The pension bill is listed in the name of Finance Minister Pranab Mukherjee in the agenda papers of the Lok Sabha for Wednesday.
The FDI in pension sector would move in tandem with the insurance sector, official sources said, adding that the revised norms would be incorporated in the Pension Fund Regulatory Authority Bill expected to be introduced in Parliament during the upcoming Budget session.
A Parliamentary panel that went into a Bill to create a pension fund regulator has favoured 26 per cent FDI in the sector, but found many lacunae in the legislation.
Experts say the state's economy is grappling with hidden debt, rising welfare costs, and lack of transparency.
Interim pension regulator Pension Fund Regulatory and Development Authority has appointed National Securities Depositories Ltd as an agency to track the pension records of those under the new pension scheme.
The pension reforms Bill is likely be passed with the Bharatiya Janata Party (BJP) deciding to support it in the parliamentary standing committee. The Bill has been pending since 2005. Its revised version was tabled in the Budget session of Parliament this year.
'If a charitable or religious trust sells a capital asset -- such as land, buildings, shares -- and makes a capital gain, it can avoid paying tax on that gain if it reinvests the proceeds in another capital asset for its charitable purposes.'
'Tax rate and stock markets are entirely two different things.'
The share of equity and investment funds in the total financial wealth of households increased by more than 50% between 2011-2012 and 2022-2023.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Finance Minister P Chidambaram has announced that the government will soon notify an interim investment pattern for pension funds, pending the passage of the Pension Fund Regulatory and Development Authority Bill in Parliament.
Over 25 crore workers across India are set to strike against new labour codes and privatisation, potentially disrupting banking, postal, and other essential services.
Prime Minister Shigeru Ishiba's sudden resignation after only a year in office has thrown Japan into political turmoil, raising doubts about how the country will handle economic and regional challenges, observes Dr Rajaram Panda.
The new Income Tax Bill, passed by Lok Sabha on Monday, has retained the provisions regarding ITR filing for TDS claims and tax exemptions for anonymous donations made to all religious-cum-charitable trusts, as in the existing tax laws. The original Income Tax Bill, which was brought in Parliament in February, had done away with this exemption and the ITR filing flexibility for claiming TDS refunds.
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