Son fights for 9 years with HDFC Bank to get Rs 5 lakh accidental death insurance cover on debit card

​National Consumer Disputes Redressal Commission (NCDRC) has ordered HDFC Bank to pay Rs 5 lakh as accidental death insurance cover to the son of its deceased customer. The deceased had a savings bank account with HDFC Bank and also an debit card. This debit card came with an accidental death insurance cover which is payable to the nominee of the debit card holder upon the cardholder's accidental death.

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50% of complaints against pvt life insurance companies in 22-23 were unfair business practice grievances: IRDAI

The total number of grievances lodged against all life insurers in India decreased from 1,54,826 in 2021-22 to 1,27,378 in 2022-23, as per the report. Grievances against private sector life insurers increased from 40,624 in 2021-22 to 45,884 in 2022-23.

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India's first corporate credit card on RuPay network launched; UPI transactions & lifetime free and more

IndusInd Bank claims to be the first bank in India to launch a corporate credit card on unified payment interface (UPI) network. This card can also be used for linking with an supporting UPI app and also offers both domestic and international airport lounge benefits. Check here for details about this RuPay credit card.

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Surrender fee: Insurers propose dual structure as regulator pitches for a hike

A higher surrender value on nonpar policies, which guarantee survival or maturity benefit without depending on insurers’ profit, could lead to an increase in more people giving up on policies prematurely, according to the insurers. This could result in a decline in persistence levels — or the proportion of policyholders who opt to pay premiums regularly — for the life insurance sector, according to them.

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Don't have Aadhaar? Go for passport-like verification first

Deputy director general of UIDAI Lucknow region, clarified that these guidelines are for those residents who are above 18 years of age and are getting their Aadhaar made for the first time.

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​Canara Bank to pay Rs 9 lakh as compensation to NRI for deficiency in services: NCDRC

​National Consumer Disputes Redressal Commission (NCDRC) has directed state run lender Canara Bank to pay Rs 9,09,288 to an non-resident Indian person due to deficiency in service and indulging in unfair trade practices. It is noteworthy that the NRI first filed a case in State Consumer Commission and then to NCDRC.

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NRI re-entry roadmap: 7 smart financial tips for homecoming

Navigate the best financial tips for NRI returning home for an easy transition! From savvy NRI banking strategies to seamless financial transitions, ensure a secure and prosperous homecoming. Don't miss these must-know insights!

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Woman can be karta of Hindu Undivided Family (HUF): Delhi HC

The high court, in a recent verdict, underlined that “neither the legislature nor the traditional Hindu law in any way limits the right of a woman to be a karta. Also, societal perceptions cannot be a reason to deny the rights expressly conferred by legislature.”

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RBI policy: Facing issues with UPI payment limits? RBI lifts caps

The limits of UPI transactions for payments made to hospitals and educational institutes have been raised by five times from Rs 1 lakh to Rs. 5 lakh per transaction, enabling consumers to make higher amounts of UPI payments for education and healthcare purposes.

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Banks to be open for only 5 days a week? Finance ministry receives IBA proposal

The Indian Banks Association (IBA) has filed a proposal about the adoption of a five-day workweek to the Finance Ministry, according to a number of news sites.

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SBI, Canara Bank deducting money for govt insurance schemes from savings accounts without consent; complaints flood X

Banks including State Bank of India (SBI) and Canara Bank are debiting insurance premiums for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJY) for life insurance, Pradhan Mantri Suraksha Bima Yojana (PMSBY) for accident insurance without obtaining prior consent from customers, the complaints on social media platform X read. All you need to know

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SBI UPI services will be down on this day; Check your alternatives

State Bank of India (SBI) UPI services will be down for a few hours on November 26, 2023.

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Rajasthan Assembly election 2023: Are banks, government offices closed on Saturday?

The Reserve Bank of India has updated its state-wise bank holiday schedule to reflect the same. Banks would have been closed even if the elections were not held on November 25 as it is the fourth Saturday of the month.

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‘Over 50% of individuals get income tax refunds in a month’

Faster return processing and issue of refunds has been a thrust area for the government and the survey indicates that the feedback has been positive. Until a few years ago, until the process was automated, refunds would take as much as a year.

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Damage to EV battery, charging station while charging: Insurer launches insurance covers for this

Zuno General Insurance (formerly Edelweiss General Insurance) has launched three new add-on insurance policies which would cover electric vehicle battery, private charging station, charging cable and standard accessories. Zuno claims that these add-on policies are an industry first offering and is aimed to cover a grey area in the insurance industry.

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10-yr period for income tax review applies to income over Rs 50 lakh: Delhi high court

The Delhi high court had to decide the validity of the notices issued to petitioners under section 148, keeping in view the ‘period of limitation’ (time within which notices for re-opening of cases can be issued). The court was responding to a bunch of petitions for FY16 and FY17.

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Diwali offers 2023: Check PNB, SBI, Bank of Baroda's special car loan, home loan rates, offers

Many public sector banks like Punjab National Bank (PNB), Bank of Baroda (BoB) and State Bank of India (SBI) have come up with festive offers giving concession on interest rate in home and car loan. The interest rate for PNB home loan starts from 8.4% and it can be applied online.

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50% equity:50% debt helps in meaningful wealth creation: Motilal Oswal Private Wealth

The brokerage house said a portfolio equally divided between equity and debt is optimum for investors with a moderate risk profile. The return distribution showed a low probability of negative returns, with around 54% of observations in the double-digit category, it said.

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Customers to receive alerts when their credit information report is accessed by lenders: RBI asks CICs

Credit institutions, including banks and NBFCs, would also be compelled to alert consumers via SMS or email when they submit information to CICs regarding their current credit default or Days Past Due (DPD).

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RBI revises bulk FD limit for these banks to Rs 1 crore

The Reserve Bank of India (RBI) decided to raise the criteria for 'bulk deposits' for regional rural banks (RRBs) to Rs 1 crore from the current Rs 15 lakhs in order to raise more funds.

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Bank of Baroda suspends employees for jacking up number of app users

Bank of Baroda has reportedly suspended over 50 employees, including assistant general managers, as part of its crackdown on irregularities in customer onboarding for its mobile banking app, bob World. The action comes after the Reserve Bank of India (RBI) banned the bank from onboarding new customers onto the app following the discovery that staff were entering third-party numbers to inflate registered users.

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Health insurance policies beat motor covers in premium

Before the pandemic struck, the share of motor insurance was 37%, as against 27% for health insurance. Motor insurance’s share has dipped to 28% in September, and if premium from personal accident insurance were added to health, its share would be even higher at 41%.

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RBI fines ICICI Bank, Kotak Mahindra Bank for defaulting in fraud reporting, loan recovery rules

The Reserve Bank of India has imposed monetary penalties on Kotak Mahindra Bank and ICICI Bank due to deficiencies in regulatory compliance, according to two separate RBI press releases issued on October 17, 2023.

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BoB World app scam could be tip of iceberg, RBI should appoint IT auditors in banks: Forum

The RBI governor, Shaktikanta Das, has been urged by a civil society platform to implement an information security (IS) audit mechanism for banks that have mobile banking apps.

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Mutual fund SIP account addition reaches record 3.7 million in September

Over the past three months, the average monthly gross SIP registration was 3.5 million compared with the previous 24-month average of 2.2 million reflecting the rapid pace of SIP additions.

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Attention SBI customers: State Bank of India on why you are facing UPI snags

If you are a State Bank of India (SBI) customer and are facing some technical issues while using UPI for your transactions, SBI has stated the reason.

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SBI net banking will be down on this day; here are alternatives

State Bank of India customers will not be able to access internet banking services due to scheduled activity. However, it has not mentioned anything about the YONO app, if its service will be available.

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Bank of Baroda cannot offer ‘BoB World’ app to new users: RBI

“The bank has been further directed to ensure that already onboarded ‘bob World’ customers do not face any disruption on account of this suspension,” said the RBI in a press release dated October 10, 2023.

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GST Council likely to clarify premium on life insurance

The GST Council will provide clarity on input tax credit for life insurers, following a demand on Life Insurance Corporation (LIC). The issue arises from the complication of GST being levied on only a portion of traditional life policies or endowment plans. The input tax credit claimed on the exempted portion of the premium is being questioned by tax authorities.

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RBI urges caution on rising personal loans, tells Banks & NBFCs to look for signs of nascent stress

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RBI hikes UCBs Gold Loan limit for bullet repayments, announces new card tokenisation channel

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Quick, easy personal loans may become difficult now as RBI tells banks, NBFCs to be more careful

Alarmed by very higher growth in the disbursal of personal loan in past few quarters, RBI has cautioned banks and NBFCs against quick and easy personal loans and has asked lenders to implement strong underwriting norms. As a result lenders will have to bring in tougher underwriting norms which will make getting a personal a little difficult for the borrowers.

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Higher FD interest rates to continue as RBI holds repo rate; how to get best returns from fixed deposits

Fixed deposit investors witnessed a good hike in FD rates since May 2022 after a long gap during which they had witnessed one of the lowest rates in decades. However, with 3 consecutive pause in repo rate hikes by RBI there was a fear of reduction in rates which could have led to fall in FD interest rates has well. However, FD investors are likely to enjoy higher FD rates for a longer period as RBI decided to keep the repo rate unchanged.

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Will FD interest rates drop sharply if RBI MPC keeps repo rate unchanged on October 6, 2023?

FD interest rate: All eyes are on RBI monetary policy committee (MPC) meeting scheduled on October 6, 2023. Most experts say that the Reserve Bank of India (RBI) is likely to keep the repo rate unchanged at 6.5%. How is it going to impact your investments such as fixed deposits (FDs)? If the repo rate remains unchanged, will the FD interest rates remain stagnant? Will there be no deposit rate hike in the coming days? Or will FD interest rates drop sharply in the near term? Let's find out what experts say

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4 Myths and facts about financial planning you should know

Today on the occasion of world financial planning day (October 4, 2023) the Financial Planning Standards Board (FPSB) India released a survey report which highlights what millennial Indians and others thinks about financial planning and what is their most unmet demands which can be met with proper financial planning.

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5 core SBI banking services at your doorstep: State Bank of India launches ‘Mobile Handheld Device’

The State Bank of India launched a "Mobile Handheld Device" for its financial inclusion customers in an effort to promote financial inclusion and offer essential banking services to the general people.

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How falling household savings affect the economy

With government expenditure needs exceeding the revenues, the savings were negative. Government dissaving has averaged 2.1% of GDP in the past 10 years. Households contribute to most of the gross savings, contributing over 65% in 2021-22.

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Will PPF, Sukanya Samriddhi, Senior Citizen Savings Scheme, other small savings schemes' interest rates increase in December quarter?

The Central Government reviews the interest rates of small savings schemes every quarter based on the G-Secs yields of the previous three months. To know whether there will be a hike in post office schemes for the October-December quarter, you need to understand how the interest rates are calculated first. There are set formulae for mark-ups over the previous three months’ average yield of relevant G-Secs of comparable maturity. Find out what experts suggest.

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Has the last date to add nominee to mutual funds been extended?

Note that if the nomination is not registered within the timeframes, transactions such as Redemptions, SWP, Switch, STP will be frozen in the corresponding folios beginning October 1, 2023.

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No relief in Rs 10 lakh tax fine for not disclosing foreign assets

A recent order of the Mumbai bench of the ITAT, which upheld a penalty of Rs 10 lakh under the Black Money Act for each year of default, has created ripples.

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How rising oil prices can impact Indian economy

Stable demand, optimism due to China’s stimulation measures, and supply cuts announced by Russia and Saudi Arabia have led to a surge in oil prices. Sameer Bhardwaj analyses the impact on the Indian economy.

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Banks don't want you to overpay card dues

In a bid to curb efforts at money laundering and fraud, banks issuing credit cards are either blocking customers from paying an amount more than their current outstanding or refunding any excess amount paid into credit cards. A bank spokesperson said since a credit card is a lending product, not a savings account, customers are not allowed to park excess funds.

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It's your right to get refund from telcos within 3 months if overcharged

Telecom operators in India will have to reimburse customers if auditors find that they have been overcharged. The refund must be made within three months of the audit observation, according to new regulations from the Telecom Regulatory Authority of India (Trai).

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Children from void, voidable marriages are legitimate, can claim rights in parents' properties: SC

In a void marriage, no decree of nullity is required to annul the marriage. While, in a voidable marriage decree of nullity is required. The top court's verdict came on a 2011 plea pertaining to the vexatious legal issue of whether non-marital children were entitled to a share in the ancestral property of their parents under Hindu laws.

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Ensure nomination to tackle unclaimed deposits: Nirmala Sitharaman

Nirmala Sitharaman has called on banks and capital market institutions to ensure that all accounts have a designated nominee to address concerns over rising unclaimed deposits and investments due to death. Sitharaman also urged fintech companies to lead in the cross-border payments system, given India's market size.

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IRDAI allows for modification of withdrawn life insurance products to benefit policyholders; 4 key provisions

The primary goal of this circular is to give existing policyholders more flexibility while protecting their interests. IRDAI has approved changes to withdrawn life insurance policies that will benefit existing customers

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2 in 5 Indians yet to start retirement planning, 61% worry savings will deplete in 10 years: Survey

The survey was conducted by Max Life Insurance, in partnership with Kantar. As many as 2,093 respondents were surveyed in 28 cities during July-August 2023. The retirement index is calculated on a comparable base of 1,591 respondents.

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Children from void, voidable marriages are legitimate, can claim rights in parents' properties: SC

In a void marriage, no decree of nullity is required to annul the marriage. While, in a voidable marriage decree of nullity is required. The top court's verdict came on a 2011 plea pertaining to the vexatious legal issue of whether non-marital children were entitled to a share in the ancestral property of their parents under Hindu laws.

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Cost of treatment doubles in 5 years as medical inflation bites

Average claim for infectious diseases rose to Rs 64,135 in 2022 from Rs 24,569 in 2018, which is an increase of over 160% and a compound annual growth rate (CAGR) of 26% (see graphic), data from Policybazaar showed. The amount is higher in metros like Mumbai, where average claim for infectious diseases rose to nearly Rs 80,000 from about Rs 30,000.

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Delhi HC orders release of seized old cars if owners meet set conditions

Striking a balance between ownership rights and anti-pollution measures, the Delhi high court Tuesday ordered the release of "end of life" vehicles seized for scrapping under two conditions while imposing several riders.

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Canara Bank launches UPI Interoperable Digital Rupee mobile app

Customers will be able to scan merchant UPI QR codes using the app and make the payment through digital currency.

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RBI’s new rules may increase your EMIs, make it difficult to get home loans for some

New loan rules: Banks and finance companies in India may have to increase some home loan EMIs and restrict borrowers' loan eligibility due to new Reserve Bank of India's new regulations. Banks that do not currently offer fixed-rate loans may increase rates to offset risk. The rules take effect from 31 December 2023.

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83-year-old woman, not liable to file tax returns, wins case against fine

An 83-year-old widow, who was not liable to file her IT return, has obtained a favourable order from the income-tax appellate tribunal (ITAT), Delhi bench. The tax tribunal set aside the penalty imposed on her for not filing her tax return.

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Is it a bank holiday today in Maharashtra for Parsi New Year?

In Maharashtra, banks will work only for remaining three days as banks witnessed two back to back holidays on August 15, and 16.

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Eight steps you can take this Independence Day to achieve financial freedom

In its truest sense, financial independence is all about reaching a stage where you have enough money to take care of your life goals. From buying adequate life and medical insurance covers to building a retirement corpus to diversifying your portfolio, here are the steps you take to be financially independent.

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Har Ghar Tiranga Campaign 2.0: Last date to order National Flag on e-Post Office portal

The Government is organising Har Ghar Tiranga campaign between 13 to 15 August. The citizens can also purchase the national flag through the ePostOffice facility of the department.

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Will banks start reducing fixed deposit (FD) interest rates from now? All eyes on RBI MPC announcements tomorrow

Several major public and private sector banks have reduced interest rates since May 2023. Axis Bank, Punjab National Bank (PNB), Union Bank of India, and IndusInd Bank are among the banks that have cut interest rates on their fixed deposits in the last four months. Will banks start reducing interest rates on FDs now? All eyes will be RBI Monetary Policy Committee meeting being held between August 8-10. Know how upcoming MPC decision is likely to impact the interest rates on fixed deposits going forward and what FD investors should do to get maximum return.

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You can talk to this bank's officials 24X7 365 days over video call to resolve problems

AU Small Finance Bank (SFB) claims to be India's first bank to offer 24/7 video banking facility for 365 days. On top of that this feature is being offered for free for all types of customers of AU SFB. Read here to know what transactions can and cannot be done using this feature.

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HDFC Bank net banking will be down on this day; here are alternatives

During the said period, net banking & mobile banking app services will be unavailable. However, you may continue banking via ChatBanking on WhatsApp

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Did you receive this message on ITR refund claims? Government issues scam alert

You should avoid providing debit card or credit card information on websites that you are sent a link to by SMS because this could be a phishing scam to steal your card information.

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Filing ITR and facing issues on e-filing portal? Income Tax Department has solutions for you

Many taxpayers turned to Twitter to express their dissatisfaction with the income tax department's official handle. The department has provided solutions in response to numerous taxpayer tweets.

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Extend ITR filing due date, waive late filing penalty, e-filing portal slow: Taxpayers take to Twitter

Tax department’s helpdesk which is open all day today to assist taxpayers with ITR filing, tax payment, and other associated services.

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Taxpayers ask for extension of ITR filing due date. Here's what they are tweeting

However, if one missed July 31 deadline they can file a belated ITR till December 31, 2023. Note that Individuals have to pay a penalty of up to Rs 5,000 under Section 234F of the Income Tax Act, 1961.

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Will government extend ITR filing deadline due to widespread floods in India?

ITR filing deadline: The income tax return filing deadline is July 31, 2023. Many taxpayers and CA associations are requesting for an extension of the ITR filing deadline in certain states as a result of floods in certain areas disrupting the lives if individuals.

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14% taxpayers won’t be able to meet ITR filing deadline of July 31, 2023: Survey

The deadline to file income tax return (ITR) for individuals without audit is July 31, 2023 for FY 2022-23 (AY 2023-24). However a survey has found out that 14% of the tax filers won't be able to comply with this deadline. On top of that 27% people are still yet to file their ITR.

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Supreme Court examines if illegitimate child has right over ancestral property

As some of the contesting counsel veered towards a consensus that under Section 16(3) of the Hindu Marriage Act, 1956 a child born to a void or voidable marriage would be entitled to an equal share with children born to the legitimate wife/husband from the parent’s property, some others propped a doubt as to whether that property would include the self-acquired property of the parent or the inherited ancestral property.

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Govt notifies interest rate of 8.15% on EPF deposits

The Union government on Monday notified 8.15% as the interest rate on deposits under the EPF scheme for 2022-23, as recommended by the retirement fund body’s Central Board of Trustees in March this year. On Monday, EPFO also directed its field offices to credit the interest into the accounts of over 6 crore active members as of March 2023. Interest rate on PF accounts declared in March this year was marginally higher than the four-decade low of 8.1% declared by the government in 2021-22.

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PNB unclaimed savings account, FDs: PNB launches campaign called 100 Days, 100 Pays; are you eligible?

the Reserve Bank of India (RBI) announced the creation of a new centralised web portal for searching for unclaimed deposits older than ten years. As now bank customers must visit through the websites of various institutions to claim their deposits.

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North India floods July 2023: Irdai urges insurers to settle flood-related insurance claims on fast track basis

The Insurance Regulatory and Development Authority of India (Irdai) urged insurance companies to handle flood-related claims in North India on fast track basis.

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28% GST on online gaming could boost revenue collection tenfold

However, the industry claims the move threatens to make the $20 billion online gaming sector unviable.

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GST on food items in cinema halls reduced to 5%

“The clarification that food and beverages supplied in cinema halls should be taxed at 5% is a welcome step and provides relief to the industry, avoiding prolonged disputes,” says Pratik Jain, Partner, Price Waterhouse & Co LLP.

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Want to pay lower GST? Don’t buy popcorn with movie ticket

“When bought together, it is treated as a composite supply and the principal supply there is watching the movie, or giving access to the cinema hall, which is chargeable at 18% tax. Food happens to be incidental, and billing is done in a consolidated way. But if you just buy the cinema ticket for entry, and purchase food subsequently, it will not be billed with the ticket, andyou will pay 5%,” Central Board of Indirect Taxes and Customs chairman Vivek Johri told TOI.

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Is there still a chance for higher EPS pension deadline extension?

The EPFO while extending deadline to July 11, 2023 said that it is a last opportunity for eligible pensioners and EPF members to apply for higher EPS pension. However, at the same time it allowed employers to upload wage details by September 30, 2023. Does this mean there is still a chance for deadline extension by EPFO to apply for higher EPS pension?

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HDFC Banks special FD for senior citizens with higher interest rate will end soon: Check details

HDFC Bank’s special fixed deposit (FD) scheme for senior citizens with higher interest rate, called Senior Citizen Care, will end soon after multiple extensions.

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Forex spend tax: FAQs awaited on many aspects

While Wednesday's decision has provided relief and clarity to several taxpayers, banks and travel agents, there are several aspects on which stakeholders are awaiting the FAQs.

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Customers face brunt of new bank locker rule

Many bank branches are unprepared, lacking necessary documents for signing the agreements, despite customers being notified to visit and update these. Customers have expressed frustration over the inconsistency in stamp duty denominations between branches in the same state.

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Will PPF interest rate increase for July-September quarter?

The central government has not revised the interest rate of PPF since April 2020. It has remained at 7.1 per cent since then. Will the interest rate of the Public Provident Fund (PPF) increase in July-September quarter? To know whether there will be a hike in PPF interest for the next quarter, you need to understand how the interest rate is calculated. Take a look

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Despite high medical inflation only 15% of Indians made health insurance reimbursement claims above Rs 1 lakh

A survey has revealed that only about 0.2% Indians had made and received a health insurance reimbursement claim above Rs 10 lakh during April 2022-March 2023.

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EPFO likely to extend the deadline for higher EPS pension by three months: Sources

Employees were facing many issues while applying for higher pension due to a lack of clarity on various rules and delayed clarification from EPFO made it difficult for large number of employees to exercise their hard-earned option to apply for higher pension from Employees' Pension Scheme (EPS). Here are some reasons why extension is needed.

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Applying for higher EPS pension: As glitches plague EPFO portal govt may again extend deadline

At present, the deadline for submission of applications for higher pension ends on June 26. The process continues to be riddled with an array of technical snags that the Employee Provident Fund Organisation (EPFO) has not been able to fix, despite them being flagged by both employees and employers repeatedly.

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Higher EPS pension: Snags hit EPFO portal as deadline looms

Issues persist despite being red flagged by EPFO’s Central Board of Trustees as well as by employer organisations.

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Monday is the last date to apply for higher EPS pension

The deadline to apply for higher pension from Employees' Pension Scheme (EPS) is June 26, 2023 i.e., Monday. However, it may happen that you still have not applied for the same or are unable to submit the application form due snags on the website. Then you must hurry up and submit the application form as soon as possible.

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EPS higher pension: 'Unable to submit' EPFO members complain on Twitter as deadline nears

Many EPF members are complaining on Twitter that they are unable to submit the joint application form on the EPFO's Member Sewa portal for higher pension. It is important to note that the last date to apply for higher pension from EPS is July 26, 2023 - which is coming Monday.

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Will PAN-Aadhaar linking deadline be extended beyond June 30?

The Central Board of Direct Taxes (CBDT) has extended the last date to link PAN with Aadhaar from March 31, 2023 earlier to June 30, 2023. There is a penalty amount to be paid to the income tax department before linking of PAN with Aadhaar. Will the government extend the deadline to link PAN with Aadhaar once again?

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Biparjoy Cyclone: LIC announces relaxations for victims of cyclone

LIC has announced concessions in an effort to ease the suffering of LIC policy claimants and Pradhan Mantri Jeevan Jyoti Bima Yojana recipients impacted by the Biparjoy cyclone.

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Cyclone Biparjoy: Insurance claim payments to be disbursed at the earliest says Irdai

In order to expedite the settlement of insurance claims in all states impacted by storm Biparjoy, the Insurance Regulatory and Development Authority of India (IRDAI) has requested life insurers to take the appropriate actions.

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Banks ask RBI to frame policy for silver loans

A bank executive aware of the matter said with the increase in silver exports, jewellery manufacturers have been asking banks to extend credit for the procurement of silver, silver articles and jewellery manufacturing.

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Savings account holders can earn FD like interest up to 7% with Kotak Mahindra Bank; Check details

ActivMoney automatically transfers surplus funds in the account above a predetermined threshold into a fixed deposit to assist consumers in achieving a greater interest rate on their savings.

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More than Rs 2.42 lakh crore disbursed to PM Kisan beneficiaries; when is next PM Kisan instalment due?

A PM Kisan beneficiary will receive Rs 6,000 per year as part of its goal to give financial support to marginal and small farmers.

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NRIs get income tax department's queries on investments

A significant number of non-resident Indians (NRIs), including those in the UAE, have received notices under sections 148/148A from the income tax (I-T) department for reassessment. Details are being sought of high-value transactions like purchase of immovable property, investment in securities or deposits or even for outward remittances from India.

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PNB launches IVR based UPI 123PAY: How to use, other features

In keeping with the Digital Payment Vision 2025 of a cashless and cardless society, Punjab National Bank (PNB) has created UPI 123PAY, an IVR-based UPI service. This was announced by the bank in a news statement.

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Tax returns filed late, directors of 2 jewellery firms get 6mths RI

The accused, Jitendra Jain and Kiran Jain, are both directors of Saloni Jewellers Pvt Ltd and M/s Yellow Jewellers Pvt Ltd. In each case, seeking the maximum sentence against the two, special public prosecutor Amit Munde said that that they are habitual offenders and similar case is pending against them.

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RuPay forex cards to be issued soon; can be used at overseas ATMs, PoS machines, online merchants

RuPay Debit and Credit cards issued by banks in India have gained international acceptance through bilateral arrangements with international partners and co-badging arrangements with international card schemes.

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Book FDs at high interest rates before they start to dip as RBI MPC is expected keep repo rate unchanged

RBI MPC and its impact on fixed deposit interest rates: The RBI MPC is likely to keep the repo rate unchanged yet again in its June Monetary Policy Committee (MPC) meeting. As an FD investor if you want to make the best out of the likely interest rate cycle reversal towards possible rate cuts, you need to act now. Investors still have a chance to hop on the bus of high fixed deposit interest rates. Here's how you can go about it

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