Under the proposed scheme, there will be tripartite agreement with member, bank/housing agency and EPFO for pledging future PF contributions as EMI payment.
Since the RBI is the 'lender of the last resort', as per terms of arrangement, Yes Bank would have to exhaust immediate liquid assets before accessing this fund.
The government has asked the Employees Provident Fund Organisation (EPFO) to begin parking three to five per cent of its subscribers' retirement funds in stocks for better returns -- a move that would also increase flow of funds to capital markets by up to Rs 13,000 crore (Rs 130 billion).
Prime Minister Narendra Modi condoled the tragic loss of lives in the fire.
Shortly after being criticised by the Shia community for defending Mohammed Ajmal Amir Kasab, the lone gunman arrested during the terror siege on Mumbai, lawyer Abbas Kazmi has been removed as a trustee from the prestigious Islam Gymkhana on the same ground. Kazmi's appointment as a trustee of Islam Gymkhana was terminated this week on the ground that defending a terrorist was against the essence of Islam. This is the second instance where Kazmi has been criticised.
For the second straight year, the pandemic cast a long shadow on festivities with the Maharashtra government placing a slew of restrictions to avoid gathering and processions.
The lawsuits allege that KPMG LLP assisted in and certified 'materially misstated financial statements', and that KPMG's international parent failed in its watchdog role and is responsible for "the severely reckless and grossly negligent acts of its agent", the report pointed out. New Century had been US's second-biggest sub prime mortgage lender that mainly served people with poor credit histories but had to file for bankruptcy in April 2007.
The finance minister chaired a meeting through video conference with major private banks and NBFCs to ensure effective rollout of ECLGS and uninterrupted liquidity to Indian MSMEs in this difficult time.
A 5-judge Constitution Bench headed by Chief Justice Ranjan Gogoi, in its historic verdict delivered on a court holiday, held that the lawsuit of the deity was "within the period of limitation" and granted the title decree in its favour.
Finance Minister Nirmala Sitharaman on Tuesday held a review meeting on credit guarantee scheme with heads of public sector banks, and asked them to expedite loan disbursement under the Rs 3-lakh crore ECLGS for MSME sector, hit hard by coronavirus-induced lockdown. The meeting on Emergency Credit Line Guarantee Scheme (ECLGS) was held through video conference, and the minister appreciated the efforts of banks in execution of the scheme.
Retirement fund body EPFO's trustees on February 5 will decide on amending its scheme to provide a minimum monthly pension of Rs 1,000, which will immediately benefit its 27 lakh pensioners.
According to reports, the trustees of reality TV star's estate are keen on making a movie on her second autobiography Catch A Falling Star.
Prakash Amte, son of well-known social activist Baba Amte and his Mandakini Amte have been awarded the 2008 Ramon Magasaysau Award for community leadership.
Modi called for a new global index based on talent, technology, transparency and trusteeship towards the planet in the post-corona world.
Waze's letter claimed that in January 2021, another state minister Anil Parab asked him to look into an inquiry against "fraudulent" contractors listed in the BMC and collectat least Rs 2 crore from about 50 such contractors.
On the occasion of the World Environment Day, he said there is a need to reaffirm the pledge to protect environment and make the planet cleaner and greener.
The remaining 0.35 per cent will be credited in December this year, if the EPFO is able to redeem its equity investments.
An advisory body of EPFO has rejected a proposal to engage private banks -- ICICI, Axis and HDFC Bank -- for collection of PF contribution from employers.
According to sources, the proposal is listed in the agenda of the meeting of the Union Cabinet scheduled for Friday.
Saddened by the financial hardship being faced by the hockey community amid the COVID-19 pandemic, former India captain Viren Rasquinha has raised Rs 22 lakh to be distributed as one-time benefit among players, coaches and groundsmen working at the grassroots level. The fund has been raised in just one week through a joint initiative of non-profit organisations Olympic Gold Quest, of which Rasquinha is a Director and CEO, and Go Sports Foundation. They named the initiative #LetsStickTogether.
During 2008 the temple collected Rs 81 crore in cash, 920 kg of gold and 440 kg of silver in the form of donations, creating a record of sorts, Ashok Khambekar, a trustee of Shri Saibaba Sansthan Trust, said
The high court was hearing a plea by Samyak Gangwal challenging a June 2 order of the Central Public Information Officer (CPIO), PMO, refusing to provide documents sought by him on the ground that PM CARES Fund is not a public authority under the RTI Act.
The EPFO pays rate of return to its subscribers on the basis of returns it generates from its investments.
Prime Minister Narendra Modi's spiritual guru Swami Dayanand Giri passed away late Wednesday night at his ashram in Sheeshamjhadi area of Rishikesh after a prolonged illness. He was 87.
The decision to suspend this benefit will hit 32 lakh pensioners.
The incident prompted National Commission for Women to set up an inquiry committee which will meet the students who were forced to strip. A girl alleged that the principal of the institute blackmailed and forced them to withdraw the complaint.
Cities, roads, stations rechristened in the time of Modi.
The Congress unit described Ramesh's suicide an outcome of "targeted harassment" of their rank and cadre to keep them away from the party.
If the nominations are not in place, the heirs need to go through a lengthy process to get access to the money cautions Bindisha Sarang.
Roshni, also a trained classical musician, came on the board of HCL Technologies in 2013 and was vice chairperson. Shiv Nadar would continue to be MD of the company with designation as chief strategy officer.
According to the EPFO estimates, there would be a surplus of Rs 151.67 crore after providing 8.65 per cent rate of interest for 2018-19 on EPF.
Their next plan is to launch a campaign to ensure only women priests change the clothes of goddess idols.
Born with autism spectrum disorder, Nandhitha's signature collection was released online recently.
An appraisal of performance of the board and practice of values and their synergy with the organisational strategy are all crucial for an organisation to evolve into an institution, say Ramachandran Kavil & Sougata Ray.
The brand name was pledged to 14 lenders, including State Bank of India (SBI), under a debt recast agreement in which loans valuing Rs 6,500 crore were restructured and converted into equity.
The government has approved payment of 8.75 per cent rate of interest on PF deposits in 2013-14 for over five crore subscribers of retirement fund body EPFO.
Gandhi said he did not need anybody's certificate about his religion.
Union Minister Ramvilas Paswan on Thursday criticised the decision taken by authorities at the Somnath temple in Gujarat to restrict entry of non-Hindus inside, sans permission, and stated that the Central government has never supported any discrimination on the basis of religion.
