Wednesday i.e., May 3, 2023, is the last day to apply for a higher pension from the Employees' Pension Scheme (EPS). However, many people are still not clear about how to apply, clarification on the replacement mechanism of an additional 1.16% contribution etc. The question arises will the EPFO extend the deadline for the second time?
Aadhaar, is used for a number of services, including last-mile banking, direct financial transfers, and authentications.
Users are unable to use the e-passbook service on the EPFO portal, which appears to be the result of a server problem.
On April 12, the Kerala high court had directed the pension fund manager to remove the mandatory submission under Para 26 (6) from its application form within 10 days.
EPF subscribers have expressed concern because the e-passbook service has been down for a few days. However, members are not able to download their e-passbooks via the EPFO website or on the Umang app.
"From a valuation standpoint, India got rewarded as it stood out among others. But we are now slowing down as well, and the valuation premium has come off," said Taher Badshah.
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Since May 2022, the RBI has raised its benchmark repo rate by 250 basis points (100bps = 1 percentage point) to 6. 5% — which banks have passed on to borrowers gradually. The minimum home loan rate is currently 8. 5% as compared to 6. 5% a year ago.
The Reserve Bank of India (RBI) in its first bi-monthly monetary policy committee meeting for the current fiscal year announced no change in the repo rate and other key policy rate. However, the question is it the pause on the current rate hike or will the central bank hike the repo rate again in this financial year.
On CRED, members can now choose from a variety of payment methods, including bill payments, scan-and-pay, tap-to-pay, UPI P2P, CRED Pay, and CRED flash for online merchants.
Missing EMIs on loans, particularly personal loans, can result in penalties, late payment fees and legal action against borrowers. With personal loans attracting high penalty charges, a missed EMI can cost Rs 7,000-8,000 in additional outflow. In terms of home loans, there are three charges for missed EMIs, including a check bouncing charge and fees ranging between 0.25% to 0.75% of the loan outstanding. Even a delay of 30 days is reflected in a borrower's credit score as a ‘delayed payment’ and negatively impacts creditworthiness.
With the government increasing deposit rates on several small savings postal plans, there is high interest among investors in this financial year. Many postal products give investors an opportunity to earn up to 120 basis points more than bank deposits.
Borrowers will not get compensation for delay in updation of their correct record in credit report by CIC.
In a statement, SBI apologised to its customers for any inconvenience and assured them that steps are being taken to avoid similar situations in the future.
Many State Bank of India (SBI) customers have been complaining about the net banking and UPI services not functioning properly online.