The Employees' Provident Fund Organization (EPFO) offers an online withdrawal option, allowing you to access funds from your PF account without requiring your employer's approval. Here's what you need to know.
Earlier on Friday, BSE Sensex soared 1,359.51 points, or 1.63 per cent, to an all-time high of 84,544.31. Similarly, Nifty also surged 375.15 points, or 1.48 per cent, to close at a record 25,790.95 on Friday.
For the first time, UPI transactions surpassed 100 billion, reaching a total of 131 billion in a single financial year, compared to 84 billion in 2022-23. In terms of value, UPI transactions hit an impressive Rs 199.89 trillion.
Indian stock markets saw notable movements, with key stocks performing strongly on Monday. The opening bell signifies a positive day for the markets with robust trading volumes across key stocks.
You can easily enable contactless transactions for your SBI debit card. By activating this feature, you can make quick and secure payments without physically swiping your card. Additionally, you can earn reward points on every purchase.
Mutual Funds vs NPS Vatsalya: Many parents choose to use both NPS as well as mutual funds depending on their financial goals. Let’s explore which option is best for securing your child’s future.
Under the NPS Vatsalya scheme, parents can open a pension account for their children and make a minimum annual contribution of Rs 10,000 per annum. After the child is 18 years of age, the account automatically gets converted into a normal NPS account, which the holder can continue.
Noida News Updates: The Noida Authority has proposed to the Principal Secretary of Public Works Department of Uttar Pradesh government to declare this route as National Highway.
With this Vande Bharat Express train's operation, passengers between New Delhi and Varanasi can now choose a faster commute between the two cities.
Indian stock markets saw notable movements, with key stocks performing strongly on Friday. The opening bell signifies a positive day for the markets with robust trading volumes across key stocks.
NPS Vatsalya: If parents contribute Rs 10,000 annually to their child's NPS Vatsalya account for 18 years, a fund of Rs 5 lakh will be accumulated at an estimated return of 10%.
The Bank of England has maintained its interest rate at 5%, contrasting with the US Federal Reserve’s rate cut to 4.8%. Inflation concerns in the UK, particularly in the services sector, have driven this cautious approach.
A decline in price of crude oil -- which is converted into fuels like petrol and diesel at refineries -- had rekindled hopes for a reduction in petrol and diesel rates that have been on a freeze for over two years now barring a pre-election reduction earlier this year.
Finance Minister Nirmala Sitharaman highlighted the crucial role of banks in India's vision for 2047. She called for enhanced infrastructure development, MSME support, financial inclusion, and digital security while praising the global success of UPI.
Sensex and Nifty hit record highs after the US Fed rate cut, driving optimism in global markets. The BSE Sensex surged 236.57 points, reaching an all-time high of 83,184.80, while the NSE Nifty climbed to 25,415.80. Banking stocks led the rally, reflecting strong investor sentiment.
NPS Vatsalya Scheme: Through the NPS Vatsalya Yojana, parents can invest on behalf of their children until they reach the age of 18. The primary goal of the scheme is to build a financial corpus for the children over the long term, supporting their future needs and goals.
The rate cut ends a 14-month period where rates were held steady. This duration is longer than three of the last six Fed "hold" periods but falls short of the 15-month pause before the 2007-2009 financial crisis.
The government has so far released Rs 370 crore to more than 4.29 lakh depositors of Sahara Group of Cooperative Societies through the CRCS-Sahara refund portal.
NPS Vatsalya Scheme Overview: Finance Minister Nirmala Sitharaman has introduced the NPS Vatsalya scheme, allowing parents to open pension accounts for their minor children. Aimed at securing long-term financial stability, the scheme converts to a regular NPS account when the child turns 18.
The market faced broad-based selling pressure across sectors, with financial, IT, and energy stocks among the top laggards. However, select FMCG and pharmaceutical stocks showed resilience, offering some support to the market.
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