Federal Bank has launched Esteem Savings Account, setting a new standard in personalised banking experiences. This premium banking solution reflects Federal Bank’s commitment to providing tailored financial services for customers aged 55 and above, addressing their diverse needs. Key highlights of the Esteem Savings Account include: 1. Complimentary Insurance Cover: Insurance cover includes free yearly health check-up, Hospital Cash facility and
Fixed deposit rates are expected to remain high for some more time as experts believe that the Reserve Bank might leave the key interest rate or repo rate unchanged yet again on December 6, when it announces its last bi-monthly monetary policy review decision of 2024. Thanks to high interest rate regime in the country
The Centre has said that the financial security of pensioners has always been taken care of through successive pension revisions guided by the recommendations of the 3rd to 7th Central pay commissions. Replying to a query on the impact of pension reforms to help pensioners live with dignity, Jitendra Singh, Minister of State in the
The Employees’ Provident Fund Organisation (EPFO) has directed the settlement of physical claims without seeding of Aadhaar in certain cases, according to a recent circular. The EPFO circular said that the retirement fund body received certain references from the field offices intimating their inability to seed and authenticate Aadhaar. This led to non-settlement of due
Rajeev Radhakrishnan, CIO, fixed income, SBI Mutual Fund, believes that the credit default swap (CDS) market can only take off once more players like banks, provident funds, and insurers participate in it. He tells Anupreksha Jain that short-term debt funds could be a good option for investors. Excerpts: Mutual funds have been actively participating in
The government is likely to raise the wage ceiling for mandatory inclusion of workers under Employees’ Provident Funds (EPF) and the Employees’ State Insurance Corporation (ESIC) schemes soon. The move will bring nearly 10 million of more employees under the ambit of the social security net. Currently, the wage ceiling for inclusion under EPFO is
The government has recently approved the Income Tax Department’s PAN 2.0 Project, aiming to streamline and modernize the issuance and management of PAN and TAN. This initiative is set to address the needs of taxpayers, considering the existing database of 78 crore PANs and 73.28 lakh TANs. Currently, PAN-related services are dispersed across three platforms:
Mutual fund SIPs have gained immense popularity as a modern investment tool for investors. A Systematic Investment Plan (SIP) is a disciplined approach to investing that helps in wealth creation through the power of compounding. SIPs are an excellent option for beginners, as they allow investments without requiring a large capital outlay. They also offer
Indian equities still trade at unattractive valuations and foreign investors will take at least 6-to-12 months to come back, UTI Mutual Fund CIO Vetri M Subramaniam and its head of equity Ajay Tyagi said on Thursday on the sidelines of a bell ringing ceremony on UTI Nifty 50 Index Fund completing 25 years. The reason
The Kalyani family dispute about their mother’s samadhi is back in court. Sugandha Hiremath, the sister of Baba Kalyani, informed the Pune Civil Court at the hearing held on Thursday that she travelled to Kashi to pay her respects at her mother Sulochana Kalyani’s Samadhi, only to discover that no such memorial existed, which left her
Nestle’s subsidiary, Nespresso, on Thursday opened its first boutique store in India at the Select Citywalk Mall in Delhi’s Saket. Nespresso and Nestle India have entered into a distribution arrangement with Thakral Innovations. It will be the official distribution partner and will cover the full range of Nespresso coffee products across B2B channels. ALSO READPunit
Family members of Punit Goenka, CEO of Zee Entertainment, have acquired 0.29% shares of Zee Entertainment for Rs 27 crore, the company disclosed to the stock exchanges on Thursday. Goenka’s wife Sheyasi bought 13,83,500 securities worth around Rs 13.46 crore (0.14% of shareholding), while Goenka’s son Udayan bought 14,15,450 securities also worth around Rs 13.46
Knowledge Realty Trust, a real estate investment trust (REIT) sponsored by US-based fund house Blackstone and Bengaluru’s Sattva Group, has filed the draft red herring prospectus (DRHP) for an initial public offering (IPO). The REIT is expected to raise between Rs 7,000 crore and Rs 8,000 crore via the IPO, sources said, adding that the
