In April, the PFRDA had announced that auto-debits from APY subscribers' bank accounts would be halted till June 30, 2020. The decision was taken as majority of the subscribers belonged to the lower strata of society and suffered the most during the lockdown.
EPFO may cut 8.5% rate declared for FY20 because of declining return on investments and cash flow.
Don’t know how to navigate the world of finances where the coronavirus is wreaking havoc? Use ET Online’s handy guide to everything personal finance in the times of Covid-19.
The extension has been done to provide further relief to taxpaying individuals.
A benefit-based policy will ensure a fixed and guaranteed lump sum amount equal to the sum insured if one tests positive for Covid-19 and is hospitalised. An indemnity health policy, on the other hand, will reimburse the cost of medical expenses during hospitalisation.
The extension will reduce hardship of taxpayers on one hand and will also give some more breathing time to tax officers, said experts, amid challenges faced in meeting the statutory and regulatory compliance requirements due to the outbreak of Covid-19.
Short term health policy means any health insurance policy contract which has been issued for a policy term of less than 12 months. However, a policy term less than three months is not permitted by the regulator.
This will be a standard health policy which will provide coverage of up to Rs 5 lakh for hospitalisation expenses related to Covid-19. The policy will cover consumables such as PPE Kit, gloves, mask and other similar expenses used for the treatment.
Launched after 2013, many of these projects were in the final leg of completion. With almost zero construction activity in the last few months due to the lockdown, the completion deadlines for almost all these projects have been extended.
However, there are no visible trends in favour of rental deferment or discount until now across top seven Indian cities, said a JLL India report.
Short-term deposit rates are now very close to or even less than what savings bank accounts offer.
Once you know about the various buckets into which your savings must be placed, it becomes clear as to which kind of investments go into which bucket.
"We see an increased effort to make rules and stick to the discipline of work hours, breaks, and completion of tasks to deadline. Many homes now have designated work areas where members are able to work undisturbed. This experiment is a worthy one."
Polycab has corrected by around 50% during the stock market crisis. The company’s valuation is reasonable since it is still way off from its high hit during January, despite the recent recovery from the March lows. This has made the company a favourite of analysts.
"We are very cautious about the economic outlook. We believe recovery will be tough and will take time. The first priority for companies today is to survive," said Srinivas Rao Ravuri.
Almost a third of consumers in India are feeling overwhelmed or anxious about their financial future — the second highest among APAC markets surveyed after Japan.
The funds from EPF account can be withdrawn for various purposes such as marriage, buying a house, repayment of housing loan etc. However, there are certain conditions that must be met to withdraw money. Here's everything you need to know about it.
A bench of Chief Justice D N Patel and Justice Prateek Jalan noted that the court will be “extremely slow to interfere in contractual terms” between landlords and tenants, adding that waiver of rent cannot be granted by the court.
According to RBI data, usage of debit cards, the second-most popular payment mode after currency notes, crashed 44% in terms of transactions and 55% by value, compared to March numbers.
Current income tax laws allow tax benefits on both principal repayment and interest paid on home loans.
The facility, 'FedSwagat' is free of charge and customers can schedule their visits themselves online. The facility has been rolled out in 50 branches now and by the end of June 2020, all the branches of the bank will offer the facility.
IRDAI has issued a notice to insurers to pay the hospitals faster to tackle the liquidity crisis. Due to the rising number of Covid-19 cases, health insurers are expected to authorise cashless claims within two hours following authorisation requests.
On why it rejected the plea, the court said: "If such type of general argument is accepted by this court, that rent should be waived for all the tenants of Delhi who are poor for the month of April or/and May or/and June, it will lead to injustice."
The new agreements are being drafted for both residential and commercial properties as both -- property owners and tenants -- seek clarity in case of another lockdown disrupting life. The lockdown clause has gained importance as force majeure clause.
Like many investment products, FDs are not risk-free. Such a deposit comes with its own share of red flags. Here are five risks you need to watch out for.
The next few months for the insurance industry will be difficult in returning to the high speed market growth highways they are used to for long, and they have to find innovative solutions to stay profitable and resilient.
Home care is convenient and an alternative mode to hospital care. This service is based on the individual's needs as prescribed by his or her treating doctor. The service includes remote monitoring by a medical practitioner, doctor visits, etc.
Both Haryana and UP RERA, which cover the maximum number of ongoing real estate projects in NCR towns, have opted for virtual hearings post Covid-19, while Delhi is launching a trial run before taking a decision.
With this initiative, all services and operations of MahaRERA can be delivered digitally, without any need for physical visit by allottees, promoters, agents and advocates to the regulator’s offices. MahaRERA will thus be 100% digital with zero paper and zero footfalls.
All types of online claims, i.e., provident fund, pension, partial withdrawal and claims and transfer claims can be processed under this novel initiative.
The facility can be sanctioned immediately while customers can start using the approved OD limit within 48 hours. The interest payable on the OD is calculated on the basis of the actual amount availed by the customer, not on the full amount sanctioned.
Residential prices had either remained flat or moved up very tardily in 2019.
When stock prices fall, they crash. Suddenly and sharply. Liquidity leaves the market. For this market that fell severely to come back, not only is liquidity needed but the possibility that such liquidity will be rewarded with profits.
The surge in assets is the result of a fall in consumption due to the Covid-induced lockdown, reveals the latest RBI bulletin. Meanwhile, borrowings have slumped. The financial liabilities of households were primarily in the form of loans and borrowings.
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