'The actions of Indian monetary authorities will depend on how quickly they want the inflation to come down to 4 per cent.'
Military veterans are finally set to get their dues following Defence Minister Manohar Parrikar's assertion that the 'One Rank One Pension' scheme is just weeks away from being implemented.
The finance ministry on Tuesday made it clear that there was no move to stop pension to retired central government employees beyond 75 years of age.
Populism gains momentum during election periods, and this trend is evident in at least four states: Telangana, Rajasthan, Madhya Pradesh and Chhattisgarh.
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.
Seeking to dispel the impression of policy inaction, the government is likely to give a push to pension sector reform by approving changes in the proposed PFRDA Bill so that it can be taken up by Parliament for the passage in the Monsoon session next month.
Global pension funds have started investing aggressively in primary market offers. Till recently, they were not looking beyond some of the largest Indian listed companies.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
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.
Most insurers aren't comfortable with subscribing to the National Pension System as they see it as competition.
Ask your HR department for details about the fund, trustees and returns
The police deployed tear gas and water cannons for a second day to stop the farmers from marching to Delhi.
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
'We cannot leave our entire unorganised sector to the vagaries of market forces.'
NPS still has critics despite being in business for a decade and mopping Rs 24,000 crore as of 2013-14.
Called Default Option, it is a life-cycle fund under which the amount of money invested in equity would be more in the initial stages while in the later stages, more money would be invested in debt instruments.
Ex-servicemen are unhappy with the pension hike announced by government saying it amounted to "wrong and deceitful" treatment of their long-pending 'One Rank One Pension' demand and vowed to continue struggle for their rights.
The retired armed forces personnel's long-pending demand for "one rank, one pension" got backing of a Rajya Sabha committee on petitions in a report tabled early this week, asserting that the financial liability of Rs 1,300 crores is not very big amount to deny the parity in pension.
The decision, likely to benefit around three million defence pensioners, will come into effect from 2014-2015.
Defence Minister Manohar Parrikar adds that the matter will be resolved within two months.
A formal sector worker can contribute towards pension scheme till the age of 58.
The pension bill is listed in the name of Finance Minister Pranab Mukherjee in the agenda papers of the Lok Sabha for Wednesday.
The government on Wednesday announced that dearness allowance for govt employees has been hiked to 6 per cent.
The country's largest lender SBI on Saturday reported a 9.13 per cent rise in consolidated net profit to Rs 16,099.58 crore for the September quarter, weighed down by money it had to set aside for employees' impending wage and pension revisions. On a standalone basis, the State Bank of India (SBI) had a 8.03 per cent increase in the profit after tax for the reporting quarter at Rs 14,330 crore. However, the same was down 15.13 per cent compared to Rs 16,884 crore in the June quarter.
Most mutual fund players and life insurance companies are planning to bid for appointment as pension fund managers for all citizens after the Pension Fund Regulatory and Development Authority (PFRDA) today decided to seek expression of interest from prospective fund managers.
An RBI-appointed panel on Monday recommended hosts of customer-centric initiatives for banks, including online settlement of claims by heirs of deceased account holders, flexibility for submission of life certificates by pensioners and a centralised KYC database. The report of the Committee for Review of Customer Service Standards in RBI Regulated Entities (REs) has also suggested that the operations of accounts should not be stopped pending periodic Know Your Customer (KYC) updates. It recommended that there should be a time limit for the return of property documents to borrowers after the closure of the loan account, failing which a penalty should be imposed on the lender.
Positive return guarantee but with conservative bias; rider to check insurer hopping by customers.
Punjab Chief Minister Bhagwant Mann also joined the meeting at the Mahatma Gandhi State Institute of Public Administration in Sector 26 in Chandigarh.
The political crisis arose in Himachal Pradesh during the recently held polling for the Rajya Sabha elections as nine MLAs, including six Congress rebels and three independents, voted in favour of BJP candidate Harsh Mahajan.
According to sources, the proposal is listed in the agenda of the meeting of the Union Cabinet scheduled for Friday.
A portfolio can be rebalanced by either selling a portion of the outperforming asset class or by buying more of the underperforming asset class.
When the subscriber reaches superannuation or the age of 60, 60 per cent of the total corpus accumulated in NPS can be withdrawn as a lump sum.
'Modi must see how we live, what we have to do to educate our children.'
Prez said basic pension of ex-servicemen of the Indian Army has increased by 2.57 times as compared to pension of December 31, 2015.
A panel of Union ministers will hold a fourth round of talks with farmer leaders in Chandigarh on Sunday over their demands, including loan waiver and bringing an ordinance on giving legal guarantee to a minimum support price (MSP) for crops.
The Pension Fund Regulatory and Development Authority will consider a proposal to manage the pension funds of companies at its board meeting on Wednesday, extending its role from being manager of individual pension plans.
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