Buying and selling of exchange trade fund (ETF) units worth less than Rs 25 crore will now have to take place compulsorily on the stock exchange platform, according to a new rule which comes into effect on Tuesday. The fresh norm, which comes into being after two deferments, is aimed at boosting liquidity and reducing tracking error. At present, investors directly deal with the asset management companies (AMCs) for purchase and redemption of ETFs - passive schemes that track a particular benchmark such as the Nifty50 index.
The administration has introduced 'Maidan Cup' in collaboration with the Mann Deshi Foundation and Sachin Tendulkar Foundation, under which 50 playgrounds will be developed in Dantewada to boost sports culture and talent.
HDFC Bank's latest shareholding data showed that the room for foreign investment has fallen just 5 basis points short of the threshold set by Morgan Stanley Capital International (MSCI) to fully include the stock in its indices. Currently, the index provider has applied an adjustment factor of 0.5 since the foreign room is less than 25 per cent. Removal of the adjustment factor will result in inflows of a massive $4.8 billion (Rs 40,000 crore) into HDFC Bank, according to Brian Freitas, a New Zealand-based analyst with Periscope Analytics.
Recognising job creation for the youth as the foremost challenge for the economy, Finance Minister Nirmala Sitharaman on Tuesday announced a comprehensive Prime Minister's package to facilitate the employment and skilling of 41 million youth with a central outlay of Rs 2 trillion over the next five-year period. The package will consist of five schemes and initiatives - three focused on jobs and two on skilling.
'Barring a temporary blip where stocks fell on verdict day, we are back to all-time highs.'
Companies have been approached to set up incubation centres that will offer financial and non-financial support to manufacturing startups at various levels.
EPFO's Central Provident Fund Commissioner K K Jalan has said that these directives shall help the body in getting the bank account details of all the members which are necessary for making UAN operational.
Here's what you MUST know to check your Employees' Provident Fund balance and status online.
EPFO manages a corpus of over Rs 8.5 lakh crore and its subscribers' base is over five crore at present.
EPFO has verified or attested 64.67 lakh Aadhaar numbers.
EPF subscribers whose accounts have not been credited with deducted money can complain to EPFO or labour ministry.
Fresh formal job creation cooled for the second consecutive month to decline to a six-month low in September, signalling a downturn in the labour markets this financial year. The number of new monthly subscribers under the Employees' Provident Fund (EPF) declined by 6.45 per cent to 891,583 in September from 953,092 in August, shows the latest payroll data released by the Employees' Provident Fund Organisation (EPFO). Besides, the net payroll additions -- calculated by taking into account the number of new subscribers, the number of exits, and the return of old subscribers -- increased by 14.9 per cent to 1.72 million in September from 1.49 million in August.
Under the Atmanirbhar Bharat Rozgar Yojana announced by the Centre to incentivise formal sector job creation, all 'new employees', who were never a part of the EPF system in the past, and those who made an exit from employment during the Covid-19 pandemic from March 1, 2020, to September 30, 2020, will be eligible for the benefit.
FCRA registration will also be cancelled if any NGO is not utilising foreign funding as per the aims and objectives of the NGO or if it has not uploaded the annual returns, the ministry said.
Tahawwur Hussain Rana, a Pakistan-born Canadian national and close associate of David Coleman Headley, could be extradited to India in connection with the 26/11 Mumbai terror attacks. Rana's travel history in parts of north and south India before the attacks in 2008 is expected to provide crucial leads for the investigation. His extradition would mark the third person to be tried in India for the attacks, after Ajmal Kasab and Zabiuddin Ansari alias Abu Jundal.
'He has been a promoter and supporter of these Games during his first term. These Games were allocated to Los Angeles during the first term. He loves sport.'
Retirement fund body EPFO has extended the deadline for filing applications to opt for a higher pension till July 11. This is the second extension of the deadline for applying for a higher pension. Earlier, it was extended from May 3, 2023, to June 26, 2023.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
.jpg)
Fund managers will be given more flexibility to invest in corporate bonds.
In a continued push to spiritual tourism, there will be a focus on destinations related to the life and times of Lord Buddha.
'Both international cooperation and self-reliance will now acquire new purpose.'
A sub-committee of the country's biggest provident fund, EPFO, is believed to have recommended slashing of interest rates to 8% for its 3 crore subscribers, even as some trade unions pitched for hiking the rate to 12%.
India's Finance Minister Nirmala Sitharaman has announced an ambitious plan to develop the country's top 50 tourist destinations in a "challenge mode", with the aim of boosting employment-led growth and attracting international visitors. The Ministry of Tourism has received a significant budget increase for 2025-2026, with a focus on enhancing tourism infrastructure, promoting domestic and international travel, and ensuring the safety of tourists, particularly women. The government plans to promote homestays, improve connectivity to tourist spots, and provide performance-linked incentives to states that demonstrate effective destination management. The budget also includes investments in public enterprises, skill development programs, and initiatives to promote medical tourism and spiritual tourism.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The move can help mop up about Rs 1.2 lakh every day for the purpose.
'The country is a good test bed for enterprise adoption, but to scale rapidly, companies will need to look outside the country for customers.'
New India Assurance and Niva Bupa have invested in the Bima Sugam India Federation.
The taxpayer-funded licence fee supported UK media corporation said it has contacted the social media giant over the designation on its @BBC account to resolve the issue "as soon as possible".
The Supreme Court on Monday said the trial of the Manipur ethnic violence cases, probed by the Central Bureau of Investigation, would be conducted in Guwahati, Assam, where it was transferred to earlier.
A remarkable story which helped in transforming a bureaucratic organization, to a customer centric organization. This experience may inspire several government / private organizations to modify or adopt digitisation to transform their business, notes Professor N Ravichandran (retd).
The Supreme Court on Friday upheld the validity of the Employees Pension (Amendment) Scheme of 2014 but quashed the threshold limit of Rs 15,000 monthly salary for joining the pension fund. The 2014 amendment had capped the maximum pensionable salary (basic pay plus dearness allowance) at Rs 15,000 per month. Prior to the amendment, the maximum pensionable salary was capped at Rs 6,500 a month.
Trump thanked the Government of Pakistan for "helping arrest this monster".
Fresh formal job creation declined sequentially for a third straight month in February to fall to a 21-month low, signaling pressure in the employment market. These are the findings from the latest payroll data released by the Employee Provident Fund Organisation (EPFO) on Thursday. The number of new monthly subscribers under the Employees' Provident Fund (EPF) declined 10 per cent sequentially to 738,052 in February from 819,659 in January.
Under its new chairman Tuhin Kanta Pandey, the Securities and Exchange Board of India (Sebi) has gravitated towards greater transparency and ease of doing business, setting an objective of "effective and optimum" regulation. On Monday, during its first board meeting under Pandey, the regulator has decided to constitute a high-level committee (HLC) to review conflicts of interest and unveiled initiatives to simplify regulatory processes.
A formal sector worker can contribute towards pension scheme till the age of 58.
'It is imprudent on the part of Indian insurance companies to invest out of the shareholders' fund in a private limited company.'
BJP president JP Nadda said on Sunday that the party does not seek to control the Waqf Board but wants to ensure that those managing it operate within the bounds of law and adhere to established rules. He said the properties and funds of the Waqf Board should be dedicated to promoting education, providing healthcare and employment opportunities for the Muslim community. Nadda also highlighted the BJP's growth and achievements, emphasizing its commitment to national unity and cultural heritage.
'Parents are forced to provide their children to Russian re-education camps in occupied territories and in different parts of Russia, for example, in Chechnya, where Ukrainian children wearing military uniform are taught to use weapons.'
