The government is exploring the option of an annual deduction on the interest income earned by employees contributing over Rs 2.5 lakh into their provident fund accounts, while suggesting that accounts up to the tax-free cap be maintained separately.
The bank has successfully completed process of technical migration of CBS/ITMS software of erstwhile Allahabad Bank with CBS/ITMS software of Indian Bank, it said in a regulatory filing.
Interest rate for FY21 may be cut further due to higher withdrawals, dip in contributions
For the first time, Kotak customers can conveniently transfer money internationally to their beneficiaries straight from their mobile, Kotak Mahindra Bank said in a release.
The Ministry of Road Transport & Highways in a statement said it has decided that all lanes in the fee plazas on National Highways shall be declared as 'FASTag lane of the fee plaza' from midnight of 15th/16th February 2021.
Every year, the EPFO credits interest on establishment basis and not on individual basis. If the details of even one employee in the establishment do not match, payments to the entire establishment get stuck resulting in delays. This year, this glitch has impacted a considerable number of establishments.
On the night of April 23 last year, Franklin MF had announced that the six debt funds would be closed down and it would return money to the investors. The process was delayed by several court cases, with the SC finally clearing the way for distribution of part of the funds that the six schemes had as of January 15 this year.
Average daily trading volumes of Bharat 22 ETF on the NSE have doubled to 19.5 lakh units compared to 9.09 lakh units a month ago.
In order to promote the adoption of Digilocker in the insurance sector, the Authority advises all insurers to enable their IT systems to interact with Digilocker facility to enable policyholders to use Digilocker for preserving all their policy documents.
Since it is used as an industrial commodity also, the news of falling Covid cases and hope of economic recovery helped silver to gain more. Here is your weekly market tracker of other alternative investments.
Irdai has said that it has not taken any disciplinary action against any insurance company so far for not complying with the order of the ombudsman.
The fund house is already in the process of distributing cash worth Rs 9,122 crore in the week beginning Feb 15, as directed by the Supreme Court earlier. After this distribution, the six schemes will have securities worth Rs 17,000 crore. SBI MF will need to liquidate these and distribute the proceeds. The Supreme Court said the sale should be undertaken with caution as an attempt to offload the securities in haste can cause a loss.
“A full week after the presentation of the Union Budget, the Index of Consumer Sentiments fell 4.2% in contrast to a 9% increase in equity market valuations response to the budget on the bourses,” CMIE said in its weekly analysis. “Households were not very impressed with the budget. On the contrary, they have expressed their displeasure with it,”it said. The findings are based on the Consumer Pyramids Household Survey by CMIE.