The Andhra Pradesh government has given eligible employees covered under the Contributory Pension Scheme (CPS) a one-time option to switch to the Old Pension Scheme (OPS). The option is available to employees who were recruited through a notification or advertisement issued before September 1, 2004, but joined government service on or after that date. The…
A fintech founder whose company is valued at around $1.2 billion has claimed that a leading private bank rejected his home loan application because it considers him to be in a high-risk category. Pravin Jadhav, founder and CEO of Raise Financial Services, shared the experience in a post on X, calling it one of the…
Quick commerce platform Instamart on Wednesday, July 15, announced a partnership with Hindustan Petroleum Corporation Ltd. (HPCL) to offer on-demand delivery of LPG cylinders through its app. The service will initially be available in Bengaluru, where consumers can order HPCL’s recently launched HP Navya 10 kg composite LPG cylinder. According to the companies, this is…
National Stock Exchange (NSE) on July 15 announced a strategic collaboration with Augmont Enterprises to support the development of India’s Electronic Gold Receipts (EGR) ecosystem, an exchange-regulated framework for trading physical gold in dematerialised form. Under the collaboration, Augmont will support EGR creation, redemption, liquidity provision, delivery and price discovery. The two organisations said they…
The Pension Fund Regulatory and Development Authority (PFRDA) has launched a new digital tool called NPS PRIDE-DISHA to help National Pension System (NPS) subscribers compare the historical performance of pension funds before selecting or switching their fund manager. The regulator said the tool is designed to make pension fund comparisons more transparent and subscriber-centric by…
Unity Small Finance Bank has revised its fixed deposit (FD) interest rates, raising returns on its special 501-day tenure to 8.00% per annum for general depositors and 8.50% per annum for senior citizens. The revised rates came into effect on July 15. The 501-day deposit now offers the highest interest rate in the bank’s retail…
Employees’ Provident Fund Organisation (EPFO) members may begin seeing the annual interest for FY2025-26 reflected in their provident fund accounts from July 15, as the retirement fund body starts crediting interest at the approved rate of 8.25%. The interest credit marks the first major member-facing exercise after EPFO migrated its entire database to a new…
With the July 31 income tax return (ITR) filing deadline approaching, crypto investors should review their tax records carefully before filing returns. Under Section 194S of the Income Tax Act, a 1% Tax Deducted at Source (TDS) is levied on the transfer of Virtual Digital Assets (VDAs). Since the deduction is made on the transaction…
Indian investors looking to start a fresh SIP in an international mutual fund have just one option left. According to a Value Research analysis, the Baroda BNP Paribas Aqua Fund of Fund is currently the only international mutual fund scheme accepting fresh SIPs as well as lump-sum investments. The development comes after several fund houses…
Gold and silver prices edged lower in early Wednesday (July 15) trade after weaker-than-expected US inflation data boosted risk appetite and reduced expectations of near-term interest rate hikes by the US Federal Reserve. On the COMEX, gold futures were trading at $4,045.80 per ounce, down $23.90 or 0.59%, after moving in a range of $4,042.50-$4,068.60…
