The Indian government is reportedly working on a Universal Pension Scheme, a voluntary initiative designed to provide retirement benefits to individuals across all sectors, including those in unorganised employment, traders, and self-employed individuals aged 18 and above. Unlike traditional job-based pension plans, this scheme will not be tied to any specific employment, making it accessible to a wider range of individuals.The Labour Ministry has already initiated discussions on the framewor

The Reserve Bank of India (RBI), in its latest bulletin released on February 19, stated that the tax cuts in the Union Budget 2025, along with moderating inflation, are expected to provide financial relief to the middle class and boost overall household spending. This announcement comes after the February Monetary Policy Committee (MPC) meeting, where the newly appointed RBI Governor, Sanjay Malhotra, emphasized the positive economic impact of the tax relief measur

The National Pension Scheme (NPS) is a government-backed retirement savings initiative designed to provide individuals with long-term financial security. With its tax benefits and flexible investment options, NPS is an attractive choice for those looking to systematically build a pension corpus. One of the most convenient ways to contribute to NPS is through a Systematic Investment Plan (SIP), which allows individuals to invest small amounts regularly, ensuring a d

The Life Insurance Corporation of India (LIC) has launched the Smart Pension Plan, designed to provide financial security for retirees through structured annuity payouts. The plan offers a range of annuity options, ensuring flexibility and stability for policyholders looking for a steady income after retirement. With multiple features tailored to meet the needs of individuals at different life stages, the Smart Pension Plan provides long-term financial support.The

Indian stock markets experienced a significant fall in early trade on Monday, even though the Reserve Bank of India (RBI) announced a rate cut and the Bharatiya Janata Party (BJP) emerged victorious in the Delhi Assembly elections. The benchmark indices opened lower and continued to decline amid growing selling pressure. The BSE Sensex lost over 600 points, while the NSE Nifty dropped nearly 200 points.   The Sensex hit a low of 77,189.04, down from the previous session&

The Reserve Bank of India (RBI) announced a 25 basis points cut in the benchmark interest rate, marking its first reduction in five years. The decision, led by Governor Sanjay Malhotra, aims to boost economic activity but was met with mixed reactions from investors. Despite expectations of a rate cut, the market remained cautious as the RBI maintained a neutral stance without introducing additional liquidity measures. Foreign Institutional Investors (FIIs) continued outflows amid concerns ove

The Employees' Provident Fund Organisation (EPFO) has recently issued 21,885 pension payment orders as part of its ongoing efforts to implement higher pensions under the Employees' Pension Scheme (EPS) 1995. As per Minister of State for Labour & Employment Shobha Karandlaje's written response in Lok Sabha, a total of 17.48 lakh applications were submitted by pensioners and members seeking to increase their pension by making higher contributions.   The EPF

The Reserve Bank of India (RBI) is inviting applications for the position of Medical Consultant (MC) on a contract basis. This is an excellent opportunity for qualified medical professionals to work with RBI. The last date to apply is February 14, 2025, at 4:40 pm.   Vacancy Details: The recruitment is for medical professionals with an MBBS degree, with a preference for those having postgraduate qualifications in General Medicine and at least two years o

Dr. Michael Debabrata Patra, who served as the Reserve Bank of India’s (RBI) Deputy Governor, has retired after nearly four decades with the central bank. Known for his strategic role in steering the RBI’s monetary policy, Patra became the face of the RBI during critical press conferences, answering the key questions on interest rates, inflation, and growth. Patra, who headed the monetary policy department for most of his tenure, was a key player in the decisions made by

The Reserve Bank of India (RBI) has made a significant change to the Unified Payments Interface (UPI) system by enabling UPI payments between verified digital wallets, also known as Prepaid Payment Instruments (PPIs), and third-party UPI applications. This new directive will allow users of digital wallets to make and receive UPI payments via any third-party UPI app, rather than being limited to the wallet’s own mobile application. The move is aimed at enhancing interoperability within t

 On Wednesday, Minister of State for Information and Broadcasting, L Murugan, informed the Lok Sabha that the government had blocked 18 OTT platforms this year for publishing obscene, vulgar, and in some cases, pornographic content. This action is in line with the IT Rules of 2021, which impose specific due diligence obligations on intermediaries to ensure they take reasonable steps to prevent the spread of such content. The IT Rules also set out a Code of Ethics for publishers

The Indian rupee opened at 84.83 against the US dollar on Monday, a depreciation of 4 paise compared to the previous close of 84.79. The decline in the rupee is largely attributed to the uncertainty following the announcement of a leadership transition at the Reserve Bank of India (RBI). Shaktikanta Das will be succeeded by Sanjay Malhotra, sparking initial concerns in the market. However, markets quickly adjusted to the news, with experts noting that the RBI is closely monitoring banking sys

On Thursday, the Reserve Bank of India (RBI) received a bomb threat via email, which was written in Russian. The threat, sent to the RBI's official website, claimed that the bank would be blown up. Following the threat, a case was registered at the Mata Rambai Marg (MRA Marg) police station in Mumbai, and an investigation has been launched. This incident comes after a similar threat was made to the RBI through its customer care number on November 16, with the caller claiming to

India's inflation rate, based on the Consumer Price Index (CPI), moderated to 5.48% in November, down from 6.21% in October, according to the Ministry of Statistics and Programme Implementation. This easing, however, is still above the Reserve Bank of India's (RBI) target of 4%, with food prices continuing to drive inflationary pressure. The food inflation rate surged by 9.04%, continuing its trend of high costs. Economists had forecast a median inflation estimate of 5.5% fo

Sanjay Malhotra, a 1990-batch IAS officer from Rajasthan, has been appointed as the 26th Governor of the Reserve Bank of India (RBI), succeeding Shaktikanta Das. The government announced that Malhotra will take charge from Wednesday for a term of three years. With a background in computer science from IIT Kanpur and a Master's in Public Policy from Princeton University, Malhotra has had a distinguished career spanning over three decades in various sectors, including finance, taxation, pow

India's foreign exchange reserves saw an increase to $658.1 billion for the week ending November 29, according to the Reserve Bank of India (RBI). This rise followed an eight-week decline, with a $1.5 billion increase from the previous week. In comparison, the reserves had dropped by $1.31 billion in the prior week, reaching $656.58 billion. Foreign investors have invested Rs 1.75 lakh crore into India's debt and equity markets in 2024. However, the month of November witness

In November, the median perception of current inflation among households increased to 8.4%, up by 30 basis points from the previous survey round in September, according to the Reserve Bank of India (RBI) Households’ Inflation Expectations Survey. Meanwhile, expectations for inflation over the next three months moderated slightly by 10 basis points, reaching 9.1%. However, households' expectations for inflation a year ahead inched up by 10 basis points to 10.1%. The survey

The Indian rupee ended the trading session stronger after the Reserve Bank of India (RBI) decided to keep the benchmark interest rates unchanged, while unveiling measures aimed at improving liquidity in the banking system. The domestic currency gained 3 paise, closing at 84.70 against the US dollar, compared to 84.73 in the previous session. As part of the monetary policy changes, the RBI raised the interest rate ceiling on one-year Foreign Currency Non-Resident (FCNR) deposits by 200 basis p

On Friday, the Reserve Bank of India (RBI) announced it would keep the repo rate unchanged at 6.5% for the 11th consecutive time. This decision comes despite the GDP growth rate for the July-September quarter falling to a 7-quarter low of 5.4%, which was below the RBI's earlier projection of 7%. The RBI paused its rate hike cycle in April last year after raising rates by 250 basis points since May 2022. In the fifth bi-monthly monetary policy review for the current fiscal year,

In October 2024, the Reserve Bank of India (RBI) made a significant move by adding 27 tonnes of gold to its reserves, bringing its total gold purchases for the year to 78 tonnes. This marks the highest level of purchases since 2009, when India acquired 200 tonnes from the International Monetary Fund (IMF). The RBI's total gold reserves now stand at 882 tonnes. In comparison, India had bought only 16 tonnes of gold in 2023. The RBI's gold purchase comes amid global economic i