EPS Update: The demand for implementing the enhanced pension under EPS-95 immediately is growing as the matter was raised in the Lok Sabha by a member of parliament on Monday. N K Premachandran, a member of the Revolutionary Socialist Party, demanded that the government should immediately implement the enhanced pension scheme as approved by the
Aditya Birla Sun Life Insurance (ABSLI), which ended FY24 with around Rs 17,500 crore in gross written premiums (GWP), aims to double its business in the next three years. In a conversation with Narayanan V, MD & CEO Kamlesh Rao outlines the company’s growth strategy, distribution mix, and the impact of recent regulatory changes. Also
The Employees’ Provident Fund Organisation (EPFO) may introduce a “self-approval” mechanism for subscribers to withdraw provident fund (PF) monies from their accumulated corpus under an automated process by early next fiscal year, according to official sources. If this results in any liquidity crunch for the EPFO, it may avail cash-credit from commercial banks to meet
Bajaj Allianz General Insurance has launched two innovative motor insurance add-on covers: Eco Assure – Repair Protection, and Named Driver Cover. According to the company, these offerings are first-of-their-kind in the insurance industry, designed to enhance customer convenience, promote sustainability, and provide comprehensive and personalized coverage. Eco Assure-Repair Protection is the industry’s first initiative designed
Weeks after the Reserve Bank advising banks to take required measures immediately to lower the number of inoperative accounts, Punjab National Bank (PNB) has launched a nationwide campaign to reactivate dormant accounts, including Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts. Dormant or inoperative account refers to an account in which no customer induced transaction has
India’s housing market is poised for a remarkable transformation by 2025, driven by rapid urbanization, technological innovations, and changing consumer preferences. With its critical role in the economy, the housing sector is expected to contribute 13% to the national GDP by 2025, reflecting its resilience and potential. Projected to grow into a $1-trillion market by
Systematic Investment Plans (SIPs) in mutual funds are growing in popularity, with record-breaking participation from retail investors. According to the latest data, the number of SIP accounts surged to an all-time high of 10.22 crore in November 2024, up from 10.12 crore in October. The SIP AUM (Assets Under Management) also reached an impressive Rs
By Gautami Gavankar “We don’t have to be smarter than the rest. We have to be more disciplined than the rest.” Warren Buffett’s fundamental rule for investing in known or emerging avenues resonates strongly with the next generation (next-gen) of Ultra High Net Worth Individuals (UHNIs) in India. These young titans of wealth are not
Pay Commission pensions revisions: The Centre recently gave details about subsequent pension revisions and other reforms undertaken for senior citizen pensioners falling in the age bracket of 80 to 100 years. In the Rajya Sabha, Parliamentarians Sadanand Mhalu Shet Tanavade, Baburam Nishad, and Subhash Barala sought details on the increase in grievance redressal by Pension
Stock market participants are expected to track global trends and the trading activity of foreign investors in a holiday-shortened week ahead, with no significant domestic triggers in sight, analysts said. The equity markets will remain closed on Wednesday for Christmas. Looking ahead, analysts pointed out that while no major domestic events are scheduled, several global
In 2024, fundraising through Initial Public Offerings (IPOs) in India hit a record high of Rs 1.6 lakh crore. This milestone was fueled by robust economic growth, favorable market conditions, and enhancements in the regulatory framework. The year saw diverse companies, ranging from large to small market capitalizations, tapping into the IPO route, with the
Starbucks workers’ union, representing more than 10,000 baristas, initiated a five-day strike on Friday, citing unresolved issues related to wages, staffing, and schedules. Initially impacting Starbucks stores in Los Angeles, Chicago, and Seattle, the strike is now expanding to Columbus, Denver, and Pittsburgh. The union, Workers United, plans to escalate the walkouts, potentially involving “hundreds
Inflation is an inevitable part of the economy, and its impact on our purchasing power is often underestimated. Inflation is typically around 6% annually. This means that the cost of goods and services increases by about 6% annually. But what does this really mean for you and your savings? What is Inflation? Adhil Shetty, CEO
