Money

In a widely-anticipated move, the Reserve Bank of India (RBI) has announced a 25-basis point (bps) reduction in the repo rate, marking a significant step to ease borrowing costs and stimulate economic growth. The decision, unveiled by RBI Governor Sanjay Malhotra on Friday, February 7, follows extensive deliberations by the Monetary Policy Committee (MPC). The

The Reserve Bank has cut the repo rate to 6.25% — the interest rate at which the central bank lends money to commercial banks — for the first time in nearly five years. The 25 basis points (bps) reduction aims to improve liquidity in the economy. While the rate cut may prompt banks to lower

The Employees’ Provident Fund Organisation (EPFO) has processed a record 50.8 million claims in the current financial year so far, which is 14.1% more than 44.5 million claims settled in FY24, an official release said. You still need EPF, NPS, insurance In FY25 so far, the claims processes are for a sum of more than

The government is likely to soon introduce a scheme to provide pensions to platform workers, along with bringing them under social security net, according to a senior official. The scheme, which will be administered by the Employees’ Provident Fund Organisation (EPFO), is likely to provide pensions to around 1 million platform workers, and may be

The Budget proposal to increase in the tax-free income limit to ₹12 lakh will raise the disposable income of middle- and low-income households, enabling them to buy more in insurance savings and protection policies, according to Shriram Life Insurance managing director and CEO Casparus JH Kromhout. “The segment we operate in does not invest for

The Centre may push back against a proposal to give goods and services tax (GST) exemption for certain insurance policies, as it reckons that this would raise the cost of insurers, leading a firming up of premium amounts. However, it will strongly pitch for a major reduction in the GST rates for insurance sector. This

8th Pay Commission: The National Council of Joint Consultative Machinery (JCM) Staff Side has submitted its recommendations for the Terms of Reference (ToR) for the 8th Central Pay Commission (CPC), advocating significant changes in pay structure, allowances and benefits for government employees. Among the key points of ToR is the proposal for merger of certain

The Indian government introduced a new tax regime in 2020, offering lower tax rates while removing several exemptions and deductions available under the old system. Initially optional, this regime became the default in 2023, requiring taxpayers to opt out if they wished to continue under the old structure. Despite the removal of many benefits, certain