National Pension System: What makes NPS an ideal option for your retirement

2018年9月25日 0 Comments

For a smooth and financially safe retirement, industry experts suggest various instrument options starting from mutual funds, real estate, stocks, to NPS, EPF, etc. Although these are the most common retirement instruments, the National Pension System (NPS) is considered one of the best investment tools for retirement planning in India. Having said that, even though NPS is considered an ideal option for retirement, its low popularity is due to the lower commission on the sale of the product. However, when compared to other assets in the retirement category, NPS almost stands out with some lucrative features. NPS is a government-initiated product with the sole objective of making retired persons financially self-dependent. It is one of the worlds cheapest products and at the same time, gives reasonably good returns. Even though all types of investments come with their own merits and demerits, investments in the NPS are mostly focused on the retirement of the investor. Further, as the subscriber is required to invest at least 40 per cent of the accumulated wealth in buying an annuity, the subscriber gets assured pension monthly. On the other hand, with the NPS, one enjoys full tax exemption up to the limit of Rs 1.5 lakh under Section 80C. Under Sec 80CCD (1B) subscribers also get tax-exemption of up to Rs 50,000. They can also claim deduction under section 80CCD (2), of up to 10 per cent of their basic salary plus dearness allowances, on the employers contribution made towards employees NPS account. Hence, along with tax benefits every financial year, the investors get a pension during their retirement years. Therefore, NPS is ideal for self-employed professionals, especially those working in the unorganized sector. Availing process for eNPS? To enrol in eNPS, one must register on the e-NPS portal. In the registration process, personal details like KYC, Photo, Signature, and bank details are to be submitted. An individual has two options available – either through entering the details that they have with their bank or through offline Aadhaar XML. To help subscribers, some companies such as KCRA have taken recent digital initiatives integrated with the UMANG (Unified Mobile Application for New-age Governance) for providing the NPS services. A subscriber just has to provide the PRAN and their password and after authentication, can avail various NPS services on UMANG Website Some of the NPS services include; 1. Personal Details View 2. Bank Details View Nominee Details View Scheme Details Total Holding Scheme-wise Holding Transaction statement on email 8. Recent 5 contributions 9. Update password, update mobile number, email ID, etc.

More than 3.77 crore balance, unutilised COVID-19 vaccine doses still available with states: Centre

2018年9月25日 0 Comments

Over 58.76 crore COVID-19 vaccine doses have been provided to states and union territories so far, the Union Health Ministry said on Thursday. More than 1.03 crore doses are also in the pipeline, the ministry said in a statement. The ministry said that more than 3.77 crore balance and unutilized COVID-19 vaccine doses are still available with the states and UTs to be administered. The Union Government is committed to accelerating the pace and expanding the scope of COVID-19 vaccination throughout the country. The new phase of universalization of COVID-19 vaccination commenced from June 21. The vaccination drive has been ramped up through availability of more vaccines, advance visibility of vaccine availability to states and UTs for enabling better planning by them, and streamlining the vaccine supply chain, it said.

Sensex, Nifty 50 end with gains; analysts advice remaining bullish above 16,350

2018年9月25日 0 Comments

Dometic benchmark indices started the week on a positive note, ending the day in the green, recovering some of last week SP BSE Sensex scaled above 55,700 earlier in the day but couldn NSE Nifty 50 closed at 16,496, jumping 0.28%. HCL Tech zoomed 4.37% to end the day as the top Sensex gainer, followed by TCS, Bajaj Finserv, Nestle India, and Bharti Airtel. Mahindra Mahindra was the worst Sensex constituents today, falling 2.53%. This was followed by Bajaj Auto, Ultratech Cement, Power Grid, and ITC. Bank Nifty gained 0.26% during the day, closing at 35,124. Broader markets underperformed as midcap and smallcap indices on NSE closed in the red. NSE Midcap 50 ended 0.71% lower while the Smallcap 50 closed 2.19% lower. India VIX closed in the red. Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments – We need to get past this to scale higher to 16800-16850 which should be the next target for the Nifty. On the downside, there is good support around 16350-16400. Until we do not break this, traders can accumulate long positions for higher targets. The key factor for the correction is the good performance during 2020-21 leading to peak valuations while liquidity is expected to normalise in the future. As long as support at 16350 holds assume the trend to be up and running. Once Nifty breaks above 16580 expect the markets to rally towards 16780-16800 towards the expiry. As the line of least resistance is bullish, this expiry could be in favour of the bulls. Support for Nifty is at 16350 and a break below 16350 and there could be a drop to 16180. Overall, the conditions favor buying, either on a break or at support. It seems the index is forming a fresh consolidation zone in the range of 16350-16600 zone as last two days we have been witnessed a choppy move in the same range which suggest traders can use the same rage for trading purpose, going forwards immediate support is coming near 16450-16400 zone and resistance is coming near 16550-16600 zone. Moreover, the Index has taken support from 89-HMA and has been trading above 2150 DMA, which suggest strength for the upside. Momentum Indicator MACD is also showing positive crossover on daily time frame which further adds strength in the index. At present, the nifty index has immediate resistance at 16600 levels while downside support shifted up to 16350 levels. Nifty has resistance in 16550 to16600 range. It has strong support in 16350 to 16420 range. New longs should be considered only on closing above 16550 level with higher than average volumes.\u201d

SGX Nifty hints at muted opening for Sensex, Nifty; 5 things to know before today’s trade

2018年9月25日 0 Comments

Domestic benchmark indices soared higher on the weekly expiry session yesterday with the NSE Nifty hitting fresh all-time highs once again. On the closing bell, SP BSE Sensex was at 57,852 while the NSE Nifty ended the day at 17,234. Broader markets mirrored the up-move and most midcap and smallcap indices outperformed. Bank Nifty surged 0.7% to settle at 36,831. On Friday morning, SGX Nifty was trading flat, hinting at a muted start to the days trade. Global cues were largely positive as Wall Street equity indices soared higher during the previous trading session. Global watch: US stock market ended in the green on Thursday with Dow Jones closing 0.37% higher, followed by the SP 500 and the NASDAQ. Among Asian stock markets, Shanghai Composite and Hang Seng were down with losses while Nikkei 225, TOPIX, KOSPI and KOSDAQ were up with gains. This is a positive indication and one may expect more upside in the short term, Levels to watch out: On the flip side, if the Nifty slips below 17150, it may trigger a quick intraday correction till 17100-17075 levels, FII and DII trades: Foreign Institutional Investors (FII) were net buyers of domestic stocks once again, pumpkin in Rs 348 crore. Domestic Institutional Investors (DII) were also net buyers of domestic equities on Thursday. DIIs invested Rs 381 crore in domestic stocks. IPO watch: Today is the last day to bid for AMI Organics and Vijaya Diagnostic IPOs. So far AMI Organics IPO has been subscribed 3.9 times with all pockets of investors oversubscribing their portion of the issue. Retail investors have bid for the IPO over 6 times their reserved portion. Meanwhile, the IPO of Vijaya Diagnostic Centre has only been subscribed 0.47 times with no investor category having fully subscribed their portion of the issue.

Afghanistan, Chabahar Port and Trade discussed between Indian and Iranian FMs

2018年9月25日 0 Comments

Even as the Taliban gets ready to form a new government on Friday, the situation in Afghanistan and the Chabahar Port Project were the major talking points between India and Iran on Wednesday. In the first ever telephone call between external affairs minister Dr S Jaishankar and Irans new foreign minister Amir Abdollahian, the two sides discussed the evolving situation in neighbouring Afghanistan and the most important connectivity project Chabahar Port Project. Since this was the first call since he became the foreign minister of Iran, the external affairs minister congratulated him and it was agreed that the two countries will continue consultations on Afghanistan. When evacuation operations were being carried out to bring back Indian citizens and Afghan Sikhs and Hindus, New Delhi was in constant touch with various other countries and agencies in the region including Iran, Uzbekistan, Tajikistan, Qatar and the US. Till date 550 people have been evacuated and these include 260 Indians and other nationals. COVID-19 Both ministers also talked about the vaccines. India had sent vaccines to Tehran to help in fighting COVID-19. And during the COVID-19 During the oath-taking ceremony of the new Iran President Ebrahim Raisi in August, external affairs minister Jaishankar had represented. Iran And it is made up of all Afghan ethnic groups. The foreign minister of Iran called for expanding trade ties and speeding up the Chabahar project. More about Chabahar Port This is one of the most important connectivity projects between India and Iran, which provides connectivity to Central Asia and Afghanistan. And it is also the most important link to the international North-South Transport Corridor (INSTC) which will connect India to Moscow. This project has been in the making for almost two decades and in May 2016, India, Iran and Afghanistan signed a trilateral deal – The Chabahar Agreement. This strategic India-Iran-Afghanistan Trilateral Agreement on Transport and Transit Corridors was signed to help in facilitating trade with Russia, Europe, Central Asia and most importantly Afghanistan. When India had signed the deal, it had committed USD 150 million for development of Phase I of Chabahar port and also offered assistance in laying of the rail network from Chabahar to Zahedan with onward connectivity to Zeranj-Delaram road. Although Chabahar is strategically vital for India due to its commitment to Afghanistan

Future of mobility: Shared, smart, safe and sustainable

2018年9月18日 0 Comments

Every day nowadays is a reminder to adopt sustainable and greener lifestyles. According to studies, India is the third most polluting country in the world, and twenty-two of the worlds 30 most polluted cities based on the Air Quality Index (AQI) are Indian. Diesel vehicles are responsible for 66% (1) of air pollution-related deaths in India. Another report said that 40% (2) of air pollution in India is attributed to vehicular emissions. The multiplying number of gasoline and diesel-powered automobiles is a double-edged sword that exploits our natural resources on one side and contributes awfully to global warming on the other. India, as a country of examples, must We are facing the dichotomy of being tagged as the fastest growing economy and being a member of the Paris agreement with a commitment towards environment conservation. How can we do this? To start with, we could all switch our mobility choice to an environmentally safe one since air pollution is arguably the most chronic with an immediate genetic effect on human health and biodiversity as a whole. EV is the Key Automobiles are an integral part of our lifestyle but traditionally we have encouraged vehicles that exploit fossil fuel. Hence, they have a high carbon footprint. But, today and the future demand more sustainable ways of transportation. The future of mobility is Shared, Smart, Sustainable, Small and Safe. 1. Shared- Fewer vehicles needed per capita as a cheaper mode of mobility. 2. Smart- Convenient real-time availability with instant planning and execution. 3. Sustainable- Green solutions with real positive impact on the environment which is economically justifiable. 4. Small- Practical solutions to reduce traffic congestion in small towns to big cities. 5. Safe- Solo ridership with natural social distancing especially needed during the Pandemic. Electric Vehicles come here as a blessing as they are an eco-friendly mode of mobility with less carbon footprint that reduces dependency on fossil fuels. In the recent past, EVs have gained popularity in India. This is primarily fuelled by public-private partnerships that are making electric vehicles accessible to customers. There is also a shift in customer preferences due to the rising fuel prices making it relatively more affordable for the Indian economy in the long run. Traditionally, India has been a two-wheeler country. Even amongst car owners, two-wheelers are popular in traffic congestion. Thus, we need to scooterise the trajectory towards the electric mobility alternatives in India. Compared to cars, scooters are lightweight and hence EV scooters run efficiently on cost-effective batteries. An easy-to-use solution, two-wheeler EVs can be charged using existing plug points in the Indian houses and have less engine sound due to the small electrified engine. The Indian government has been promoting EVs and has reduced GST from 12% to 5% on EVs, and the future is bright especially with smart city planning and its transformational objective. One of the biggest challenges for EV adoption in India would be its affordability to the larger customer base. A strategic way to make EVs more affordable would be to promote This would not only help India meet its environmental goals but also make EVs affordable for the masses. To prepare for that future, India must start today by investing in a robust infrastructure of charging docks and promoting alliances between civic bodies and private companies to reach the masses. The companies need to create a unique battery-swapping network that is low cost and highly scalable. This framework should be accessible to its users and operate with a skillful team to keep the process running in place in the viable areas. Indian cities are still developing the infrastructure for parking shared vehicles. The service providers must work with cities in a collaborative manner that can give access to prime real estate to create sustainable models for EVs. You for Nature Today, mobility is transforming the way we get ready for a convalescing future. The shift towards EV will not be instant, but metamorphic. History is a living example that only socially cognizant and insightful people can bring about a radical change in society. Even the Wright brothers were laughed at for their idea of a flying automobile. (Sources) 1 – Study by International Council on Clean Transportation (ICCT), Milken Institute School of Public Health from George Washington University, and the University of Colorado Boulder 2 – Mint interview with Anumita Roy Chowdhury, Executive Director (Research Advocacy), Centre for Science and Environment (CSE) Author: Amit Gupta, Founder CEO, Yulu Bikes Disclaimer: The views and opinions expressed in this article are solely those of the original author. These views and opinions do not represent those of The Indian Express Group or its employees.

MSMEs using Effitrac’s no-code tools can now access digital banking platform from RazorpayX

2018年9月18日 0 Comments

Technology for MSMEs: Coimbatore-based business process technology SaaS provider Effitrac announced its partnership with business banking platform RazorpayX, offered by fintech giant Razorpay. As a part of the partnership, Effitracs MSME customers will have access to the array of digital banking solutions offered by RazorpayX such as payout links, current account, book-keeping, automated TDS, and even capital services on its platform, without being transferred to an external link. Subscribe to Financial Express SME newsletter now: On the partnership, he added, RazorpayX will improve the capabilities of our financial product Neobooks and will make it a one-stop solution to meet financial transaction needs of businesses.ai to enable its customers automate business processes at scale. For services, the firm collaborated with CFO Bridge to offer MSMEs on demand access to CFOs. Velusamy confirmed that more such partnerships are in the pipeline. Effitrac offers 30-plus pre-configured templates for SMEs so business owners and employees with limited tech know-how can automate businesses processes such as ERP, CRM, HRMS and Payroll. Currently, Effitrac works with 500+ MSMEs and 30,000 users across 13 industries. The 35-people firm plans to reach one million MSMEs over the next three years.

New NPS rules allow equity exposure upto 50% for those joining after 65 years! Check details

2018年9月18日 0 Comments

National Pension System: The Pension Fund Regulatory and Development Authority (PFRDA) has increased the maximum age of joining the National Pension System (NPS) to 70 years. Also, the NPS account holders have been permitted to defer their account up to the age of 75 years. In response to the large number of requests received from the existing Subscribers to remain invested under NPS beyond 60 years or beyond their superannuation, and the desire from citizens above 65 years to open NPS, it has been decided to increase the entry age of NPS in the interest of Subscribers and benefit them with the opportunity of creating a long term sustainable pension wealth, PFRDA said. The pension regulator has announced unique features and benefit for those joining NPS after the age of 65 years. Maximum equity exposure allowed According to the PFRDA circular dated 26th August 2021, subscribers joining the NPS after crossing the age of 65 years can exercise the choice of PF and Asset Allocation with the maximum equity exposure of 15% and 50% under Auto and Active Choice respectively. Such subscribers can also change the Pension Fund once per year while the asset allocation can be changed twice. The Subscriber, joining NPS beyond the age of 65 years, can exercise the choice of PF and Asset Allocation with the maximum equity exposure of 15% and 50% under Auto and Active Choice respectively. The PF can be changed once per year whereas the asset allocation can be changed twice, PFRDA said. Who can open NPS account after 65 years? Any Indian Citizen, resident or non-resident, and Overseas Citizen of India (OCI) between the age of 65-70 years can join NPS and continue or defer their NPS Account up to the age of 75 years, according to the regulator. New Exit and Withdrawal Rules Subscribers joining NPS beyond the age of 65 years can exit normally after 3 years. S\/he will be required to utilize at least 40% of the corpus for the purchase of annuity and withdraw the remaining amount as a lump sum. However, if the corpus is equal to or less than Rs 5 lakh, the subscriber will have the option to withdraw the entire accumulated pension wealth in a lump sum. Premature exit is also allowed before the completion of 3 years. In this case, the subscriber will have to utilize at least 80% of the corpus for the purchase of annuity. S\/he can withdraw the remaining in a lump sum. In case the corpus is equal to or less than 5 lakh, the subscriber can withdraw the entire accumulated pension wealth in a lump sum. In case of the unfortunate death of the subscriber, the entire corpus will be paid to the nominee of the subscriber as a lump sum. The subscribers will also be eligible to open Tier II Accounts for investing their disposable income to optimize their returns. Unlike the NPS Tier-1 account, Deposits in the Tier-II account can be withdrawn at any time.

Land mapping: Govt readies 5.6 lakh hectares of land on India Industrial Land Bank portal to woo investors

2018年9月18日 0 Comments

The department for the promotion of industry and internal trade (DPIIT) has facilitated the mapping of as much as 5.6 lakh hectares on the India Industrial Land Bank (IILB) portal. It provides a GIS-enabled database of industrial areas to enable investors, sitting at home, to choose land located in various states to set up projects. The land, already acquired by the official agencies, is spread across 4,363 industrial parks, estates and special economic zones (SEZs) in 19 states and Union territories, according to a DPIIT presentation on August 23. The department now plans to integrate all states with the IILB portal by December 2021. While the Modi government Through the IILB, investors will be able to not just locate the land but have access to a plethora of details Inordinate delay in land acquisition has been one of the biggest obstacles in India Land acquisition in the past also resulted in large-scale protests against an SEZ in Nandigram, a Tata Motors plant in Singur (both are in West Bengal) and Vedanta Since land ownerships in vast swathes of India are fragmented and disorganised, direct acquisition remains a critical challenge, more so for private companies. The land bank, therefore, becomes a key initiative of the government, as it intends to undertake structural reforms in factors of production to reverse a Covid-induced slump in growth. Commerce and industry minister Piyush Goyal, who had launched the land bank portal a year ago, had said it would be continuously developed, with inputs from states, to make it a more effective for land identification and procurement.

Fed’s Powell gives no signal on start of bond-buying taper, weighs Delta risks

2018年9月18日 0 Comments

The U.S. economy continues to make progress towards the Federal Reserves benchmarks for reducing its pandemic-era emergency programs, Fed Chair Jerome Powell said on Friday in remarks that defended the view current high inflation will likely pass and stopped short of signaling the timing for any reduction in the central banks asset purchases beyond this year. In a speech to the annual Jackson Hole economic conference, Powell indicated the Fed will remain cautious in any eventual decision to raise interest rates as it tries to nurse the economy to full employment, saying he wants to avoid chasing transitory inflation and potentially discouraging job growth in the process – a defense in effect of the new approach to Fed policy he introduced a year ago. On the potentially imminent decision by the U.S. central bank to begin reducing its $120 billion in monthly purchases of U.S. Treasuries and mortgage-backed securities, Powell said he agreed with the majority of his colleagues that a bond taper could be appropriate this year. The weeks since the Feds policy meeting in July brought more progress towards repairing the jobs market, with nearly a million positions added, and that progress should continue. But it also coincided with the further spread of the Delta variant of the coronavirus and its attendant risks, Powell noted. In the days before Powells speech, several Fed regional bank presidents said they were eager to get a taper underway, and to run down the asset purchases fast. Powell was non-committal. We will be carefully assessing incoming data and the evolving risks, he said, signaling that Fed discussions about exactly when to reduce the bond-buying program not only remain unresolved, but must be squared against the health and economic risks posed by the highly contagious Delta variant. Stocks gained ground after the release of the text of Powells speech, with the benchmark SP 500 index hitting a record high, as investors took the view that Powell was signaling no rush to tighten policy. Treasury bond yields edged lower and the dollar weakened against a basket of trading-partner currencies. Powell understands that tapering will happen, but its not going to happen sooner than later, said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh. PREPARED TO ADJUST Fed officials have largely said they expect the resurgent health crisis will not throw the recovery off track. But concerns about COVID-19 risks forced the central bank itself to move its Jackson Hole symposium from a mountain resort in Wyoming to a virtual event for the second year in a row. Expectations for continued job growth are in part based on reopened schools, eased childcare constraints, and a steady return to consumer spending on close-contact activities – developments that may be influenced by the worsening outbreak. Fed officials expect to see continued strong job creation. And we will be learning more about the Delta variants effects, Powell said in his remarks. For now, I believe that policy is well positioned; as always, we are prepared to adjust. Much of Powells speech was devoted to an exposition of why he feels current high inflation is likely to pass, reciting a list of factors, from supply chain bottlenecks that are likely to ease to globalization acting as an anchor on prices. While the current fast pace of price increases is a cause for concern, it would also be damaging, he said, if the Fed jumps the gun with any policy shift and particularly with a premature decision to raise the central banks benchmark overnight interest rate from the current near-zero level. We have much ground to cover to reach maximum employment, and time will tell whether we have reached 2 percent inflation on a sustainable basis, Powell said. If a central bank tightens policy in response to factors that turn out to be temporary . the ill-timed policy move unnecessarily slows hiring and other economic activity and pushes inflation lower than desired. Today, with substantial slack remaining in the labor market and the pandemic continuing, such a mistake could be particularly harmful.