The RBIs Integrated Ombudsman Scheme was launched by Prime Minister Narendra Modi on November 12, 2021, via virtual meeting. The Scheme went into effect the same day it was announced. The Integrated Ombudsman Scheme attempts to strengthen the grievance resolution procedure for customers who have concerns against firms regulated by the RBI, such as banks, NBFCs, and payment service providers.
E-shram is a portal launched by the Ministry of Labour and Employment of India on August 21, 2021, for the welfare of workers in the unorganised sector. Candidates who sign up for e-Shram will be allocated a card with their unique identification number (UAN) similar to the Aadhar number by the Ministry of Labour and Employment. Aspirants can find employment in the future by registering for the CSC
Gold as a precious metal has always been considered auspicious and Indians tend to buy gold jewelleries during the festive season and in the wedding season. December to January is a wedding season in India, hence the demand for gold jewellery increased. Recently the RBI has announced the eighth tranche of the sovereign gold bond (SGB) scheme for 2021-22.
India is a country with a growing demand for cars and bikes and with growing demand, it becomes important to match the demand and supply for the continuous growth of the sector. The auto sector here means auto manufacturing and the auto dealership in the country. Starting an auto dealership is something people are not aware of as it requires a detailed procedure and a bunch of documents
To keep receiving a government pension from Pension Disbursing Authorities (PDAs) such as the banks, the post offices, etc., retired personnel above the age of 60 and family pensioners must submit their digital life certificate between November 1 and November 30 annually. This means that the life certificate must be submitted by November 30. On 20th September the Department of Pension and Pensione
Who doesn’t like Ice cream? Everybody loves it! Ice Cream Parlours are getting popularity in some untouched markets like India. Though the country is home to some of the best-known milk products. Surprisingly, India is the worlds biggest milk producer country had no Ice parlor Culture like the west. In the last couple of years, the Ice Cream Parlour outlets received an overwhelming response which
Everyone at some stage of life must have bought gold or even thought of buying gold either in the form of jewellery or for investment purposes. The reason could be anything gold means money, investing in gold in any form is a good investment. While visiting the jewellery store the jeweller must have given you two options 22k and 24 k. The k stands for Karate. Karate is a term used to measure the p
When being beautiful is all about being gorgeous with stunning gold jewellery it becomes very important to check whether the jewellery you are spending your money is genuine or not? Hallmark is one that thing could help you to identify genuine gold jewellery.
One of the most popular retirement savings plan is the EPF or the Employees Provident Fund. Apart from being popular, today it offers the highest interest rate as well. For the FY 2020-21, the interest rate offered was 8.5%, which is a solid sum under the present interest regime. The question that readers ask is: Is EPF taxable?
A valid mobile number and email address registered with your savings account are essential not just to use net banking or mobile banking, but also to fulfil KYC compliance and to experience safe banking activities based on a one-time password (OTP). However, if you are a customer of State Bank of India (SBI) you have been obviously aware that SBI offers Corporate and Retail Internet Banking
The ULIPs have always been an attractive investment option for individuals in the higher income brackets as it gives one of the best tax benefits under the Section 10(10D) of Income Tax Act of India. In addition to this, one can do equity investments in the ULIPs, which is also one of the most popular investment instruments.
Is crypto currency trading in India banned? How many crypto currency investors are there in India. The article provides a good perspective on cryptocurrency trading in India.
You may have heard of Bitcoin, the original cryptocurrency, which sparked interest in world-changing technology like Blockchain. Bitcoin has grown in popularity as a result of its technology, transparency, and efficiency.
Real Estate Investment Trusts (REITs) are catching up big way in the Indian economy and real estate sector. Regulated by SEBI, REITs are companies that own, operate, or finance income-producing commercial real estate (from the Indian perspective).
Scammers are now luring victims to share their confidential banking and personal information using social engineering tactics. They are enticing their targets through a combination of too good to be true offers, promise of help and sometimes through threats.
Importantly, face value of a share has no relationship with the current stock price. This face value is instead used to calculate the accounting value of a companys stock for the balance sheet of the company.
Gold rates in the international markets hiked massively in November. From the first day of the month to the 12th day, gold rates jumped from around $1670/oz to around $1879/oz. However, in the past three days, gold rates performed moderately and did not hike. Today, on November 19, gold rates dropped to around $1655/oz in the Comex December gold futures.
Google India announced new functionality for its payments app at its Google For India event. The new features include anything from the addition of Hinglish as a language option to a new Bill Split option. Later this year, the Bill Split option will be available. A bill can be split with up to 20 persons.
Employees Provident Fund Organisation (EPFO) provides Provident Fund (PF) nominations to all EPFO subscribers to provide social security for their family/nominee. Filing PF e-Nomination is required to receive Provident Fund (PF), Pension (EPS), and Insurance (EDLI) benefits online following the members death.
Dividend yield is a financial ratio suggesting how much a company pays in dividend every year as against its current stock price. Expressed in percentage terms, dividend yield is an assessment of the dividend-specific return of an investment.
Neobanks are all-digital banks that deliver services to their customers through digital media. There are no physical branches, unlike traditional banks, and all transactions are completed through digital or mobile-only platforms. Neobank is a mobile-first banking service that has moved away from the traditional banking model.
The USAs Labor Department has recently reported that retail inflation (Consumer Prices Index - CPI) had climbed up to 6.2% in October. The country has been dealing with a much higher headline inflation rate since last year, as an immediate impact of the pandemic. In this year, May, the USA had reported a 5% surge in CPI inflation, YoY.
On November 1, 2021, the department of tax to make things more transparent has come up with AIS or Annual Information Statement. This statement will detail or put forth all the digital financial transactions carried out by the taxpayer in a given FY. This shall be an extensive list even broader than the form 26 AS which essentially provides details on taxable income and tax deducted at source.
Today Prime Minister along with RBI Chief Shaktikanta Das have formally unveiled the earlier notified scheme for G-securities investment by retail investor category. Termed as RBI Retail Direct scheme- the scheme has come up with a unique platform that will enable individual investors to access and invest in gilts.
Customers who want to generate their debit card PIN from the comfort of their own home can do so using a toll-free IVR (Interactive Voice Response) system provided by the countrys largest lender, State Bank of India (SBI), which allows them to get their debit card PIN or Green PIN over the phone at any time and from any location.
The Unique Identification Authority of India (UIDAI) has launched a new service called Aadhaar Paperless Offline e-KYC, which can be used for offline verification of identification by an Aadhaar holder. If a resident wishes to use this service, he or she must first get his or her digitally signed Aadhaar details by visiting the UIDAI portal.
All Resident Individuals have access to the Liberalised Economic Scheme, which allows them to freely remit up to USD 125000 every financial year for any authorized current or capital account transaction, or a combination of both. The frequency or number of times money can be transmitted abroad from India is unrestricted, and the total limit is set at $1,25,000.
Having an updated bank account with valid bank details is important for COVID-advance claims or regular claims from an Employees Provident Fund (EPF) account. Employees Provident Fund Organisation (EPFO) may block the release of your claim amount if you have an invalid or incorrect bank account registered with them.
Preferred stock and common stock have a lot of distinctions. The key distinction is that preferred stock often does not provide voting rights to owners, but the common stock does, usually at one vote per share owned.
As an immediate reaction to the tapering announcement, gold rates fell to $1763/oz. However, this trend did not linger for a longer period in the international market, and in India, even after the non-farm payroll data. Yesterday, on the last trading day, on November 5, gold rates again hiked to $1816.8/oz, increasing by 1.30%.
In September, 22 carat gold prices in India closed at Rs. 44,494/10 grams, while 24 carat gold price closed at Rs. 45,490/10 grams. This range impacted the Indian gold prices directly. So, in September, in India, 22 carat gold rates fell by 4.08%, which has been worrying for gold jewellers and traders. But in October, globally, gold rates experienced a considerable hike.
You have probably come across the phrases alpha and beta during your stock market research. In finance, alpha and beta are two of the most often used metrics for determining how well a portfolio manager performs in comparison to their peers. Common deviation, R-squared, and the Sharpe ratio are all standard technical risk calculations that investment managers use to determine and compare an in
Farmers can apply for an SBI Kisan Credit Card from the countrys largest lender, the State Bank of India, to receive enough financing to cover their agricultural needs. Farmers expenses for auxiliary operations are also addressed by SBI through a streamlined approach that allows borrowers to get loans instantly whenever they need them.
SBI Life Insurance is among the most reputable life insurance companies in India, with 947 offices, 18,236 employees, a massive and effective individual operative platform of approximately 143,232 agents, 60 corporate agents, a ubiquitous insurance channel of 14 partners, over 27,000 alliance branch offices, 108 brokers, and other insurance marketing companies.
The Unique Identification Authority of India (UIDAI) has established 55 Aadhaar Seva Kendras (ASK) as of now, as part of an effort to install 166 Aadhaar Seva Kendras in 122 cities throughout India. In addition, there are around 52,000 Aadhaar enrolment centres maintained by banks, post offices, state governments, and other Registrars and more than
In the equity markets, bonus share is a very popular term. A bonus share is an additional share that is offered to the current shareholders but without any additional cost. It will depend on the number of shares that a shareholder owns. A bonus share is a companys accumulated earnings which they do not give in the form of dividends, rather it is converted into free shares for the shareholders.
On the basis of any of the move that is considered as a key change such as change in fundamentals, change in management or a strategy for that matter, the stock may be for a re-rating. This re-rating is re-evaluation by market analysts and may result in downgrade or upgrade for a stock.
Employees Provident Fund (EPF) members can register an e-nomination now to ensure for their family/nominee. The Employees Provident Fund Organisation (EPFO) necessitates certain documents to file an e-nomination, and members must have an activated and Aadhaar-linked UAN, Aadhaar-linked mobile number, and an updated member profile with photograph and address on hand
Tax-related phrases can be confusing because they serve different purposes and have diverse meanings. While calling the Income Tax Department or completing your taxes, you may come across abbreviations such as TAN, PAN, and TIN.
The Reserve Bank of India (RBI) enhanced the transaction threshold for Immediate Payment Service (IMPS) transactions from Rs 2 lakh to Rs 5 lakh in the current month. IMPS service which is handled by the National Payments Corporation of India (NPCI) is a payment system that allows for instant domestic funds transfers 24 hours a day, seven days a week
The countrys largest lender, State Bank of India, allows its customers to withdraw cash from SBI ATMs using an OTP. Last year, SBI enhanced the limit of OTP-based cash withdrawals to Rs 10,000 and above, necessitating customers to keep their mobile handy in order to get OTP on their
more awareness and return-oriented thinkings have also led them towards virtual gold options. The RBI Sovereign Gold Bond (SGB) Scheme, in that case, is one of the best options for virtual gold investment. Because it will assure the investor of the RBI, on behalf of the central government.
Every investor should keep a tight eye on their stock portfolio. Every single press release, blog post, or another form of media can have a significant impact on the value of your individual stock holdings. As a result, its critical to get updates on the companies in your portfolio as soon as feasible.
According to the guidelines of the Reserve Bank of India, a new auto-debit rule on Additional Factor of Authentication (AFA) became effective on October 1. Individuals will be obliged to undertake additional factor authentication (AFA) on all recurring payments made using their debit cards, credit cards, UPI, and prepaid payments instruments after the introduction of this rule.
Quarterly results are the publics glimpse into the companys success. These are created in a specific format that a business must follow. The earnings report is the most common way for a publicly-traded firm to disclose its financial performance for a certain period.
Linking the Pan Card with the Aadhaar card is quite important because it reflects the transparency of your financial transactions and income tax returns. Now you can link Pan Card with the Aadhaar card through the Income Tax E-filing Portal, online, easily. In this portal, the Link Aadhaar service is available to individual taxpayers (both registered and unregistered on e-Filing) who have a vali
Provident Fund (PF) is considered as a long-time investment opportunity for Indias working force and it helps largely after their retirement. However, an employee can also withdraw their PF account balance even before their retirement, if they need, under some particular circumstances. As they change their jobs, they can withdraw the money after some point in time.
The Employees Provident Fund Organisation (EPFO) released new guidelines last year to make it easier for PF members to change their date of birth. These instructions were given for PF members to verify that their UAN is KYC compliant in the aftermath of the COVID-19 epidemic, in an effort to expand the scope of online services.
Future trading and options trading – these terms are popularly used by investors who invest in the asset class. The basic difference between these two types is the question of obligation. In futures trading, there will a burden on the investor to buy the asset on a particular date, while in options trading, the investor can deny buying it.
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