The Employees’ Provident Fund Organisation (EPFO) is set to revolutionize access to Provident Fund (PF) accounts by enabling direct withdrawals from ATMs starting in 2025. This initiative aims to enhance convenience for millions of EPFO subscribers across India. Understanding the New ATM Withdrawal Facility Traditionally, withdrawing funds from a PF account has been a … [Read more...] about EPFO Introduces ATM Withdrawals for PF Accounts Starting 2025
Banking News
PAN 2.0 Explained: What It Means for Taxpayers and Businesses
The Permanent Account Number (PAN) has long been the backbone of financial identification in India, serving as an essential document for taxation, investments, and financial transactions. As the government embarks on its journey towards digitization and enhanced efficiency, PAN 2.0 is set to bring transformative changes to the way financial identities are managed. This … [Read more...] about PAN 2.0 Explained: What It Means for Taxpayers and Businesses
SBI Indicates Another 10-15 Basis Points MCLR Hike: What It Means for Borrowers and the Economy
The State Bank of India (SBI), recently announced a potential increase in its marginal cost of funds-based lending rates (MCLR) by another 10-15 basis points (bps). This comes on the heels of a recent 10 bps hike implemented on June 15. The move signals that MCLR rates, which influence the cost of corporate loans, have not yet reached their peak. Here’s an in-depth look at what … [Read more...] about SBI Indicates Another 10-15 Basis Points MCLR Hike: What It Means for Borrowers and the Economy
State Bank of India Hikes Fixed Deposit Interest Rates
The State Bank of India (SBI), recently announced a welcome change for its customers: an increase in fixed deposit (FD) interest rates! This is good news for anyone looking for a safe and secure way to grow their money. Let's delve into the details and see if an SBI FD might be the right fit for you. What Changed? Effective May 15, 2024, SBI increased interest rates for … [Read more...] about State Bank of India Hikes Fixed Deposit Interest Rates
Full List Of Bank Holidays In January 2024
Having knowledge about bank holidays for any given month is a necessity if you want to perform banking tasks either regularly, or have plans for any occasion. Also, bank holidays are usually not widespread across all of the country except for the major holidays. Some bank holidays are in specific states/regions and hence if you are not aware of those holidays, your banking … [Read more...] about Full List Of Bank Holidays In January 2024