Investments & Insurance – Page 11

Now old/sick/incapacitated persons can send an authorized person to Post Office for withdrawal or closure of the account on their behalf.

Investments & InsuranceBy Surendra Naik August 14, 2021

With a view to enabling the old/sick/incapacitated account holders, the postal department has allowed senior citizens, differently disabled persons, and persons with physical infirmity to authorize a person to operate their post office accounts such as the Senior Citizens Savings Scheme (SCSS), Post Office time deposits, savings account, etc. Up till now, the above facility…

Subscription for Sovereign Gold Bond opens from 09/08/2021 to 13/08/2021

Investments & InsuranceBy Surendra Naik August 10, 2021

RBI announces issuance of Sovereign Gold Bond 2021-22 Series-V from August 9, 2021, to August 13, 2021. The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding…

Now as a retail investor you can open an ‘RBI Direct’ gilt account

Investments & InsuranceBy Surendra Naik July 13, 2021

The Reserve Bank of India in its ‘Statement of Developmental and Regulatory Policies’ dated February 05, 2021 for improving ease of access by retail investors through online access to the government securities market – both primary and secondary – along with the facility to open their gilt securities account (‘Retail Direct’) with the RBI. The…

Interest rates of PPF, NSC, and other small saving schemes kept unchanged for July-Sept 2021

Investments & InsuranceBy Surendra Naik July 2, 2021

The government has decided to keep the interest rates for small savings schemes unchanged for the July-September quarter, the fifth in a row. The last revision in small savings rates was for April-June 2020. This was announced by the finance ministry via a circular dated June 30, 2021. Thus, the interest in the small savings…

Pension equivalent to 90% of wage extended to dependents of COVID-19 victims under ESIC scheme: Govt

InsuranceBy Surendra Naik May 30, 2021

The Ministry of Labour and Employment on Sunday announced additional benefits for workers through social securities schemes run by the EPFO and the ESIC amid the COVID-19 pandemic. “The Ministry of Labour and Employment has announced additional benefits for workers through ESIC and EPFO schemes to address the fear and anxiety of workers about well…

Subscription for Sovereign Gold Bond Scheme 2021 Series III opens from May 31

Investments & InsuranceBy Surendra Naik May 29, 2021

In terms of GoI notification F.No.4(5)-B(W&M)/2021 and RBI press release dated May 12, 2021, the Sovereign Gold Bond Scheme 2021-22 – Series III will be open for subscription for the period from May 31, 2021 to June 04, 2021. The nominal issue price per gram of gold for off-line subscriber is Rs.4889 (Rupees Four thousand…

Investors in Sovereign Gold Bonds (SGB) 2015 to collect bumper returns

Investments & InsuranceBy Surendra Naik May 28, 2021

The RBI, in a statement yesterday, said the redemption price for the early redemption of SGB tranche-1 due on May 30 shall be ₹4,837 per unit of SGB and payable on May 29 (May 30, 2021, is Sunday). This translates into an appreciation of about 80 percent over the issue price of ₹2,684 per unit…

RBI opens subscription for Sovereign Gold Bonds (SGBs) from May 24

Investments & InsuranceBy Surendra Naik May 23, 2021

RBI announces issue of the second tranche of the Sovereign Gold Bonds (SGBs) scheme 2021-22. The subscription opens for public from May 24, 2021, and will close on May 28, 2021. Issue price per gram of gold is Rs 4,792 for those investors applying online and the payment against the application is made through digital…

Guidelines for applying the Sovereign Gold Bonds

Investments & InsuranceBy Surendra Naik May 18, 2021

The resident Indians (individuals, HUFs, Trusts, Universities, Charitable institutions, etc.,) as defined under FEMA Act 1999 are eligible to invest both in a single name or joint name. In the case of joint names, the buying limit applies to the first applicant. The bonds can also be purchased in the minor’s name. Though the tenor…

EPFO raises death insurance relief to Rs.7 lakh to the family of employees under the EDLI scheme

Investments & InsuranceBy Surendra Naik May 17, 2021

The Employees’ Deposit Linked Insurance Scheme (EDLI) is an insurance cover provided by the Employees’ Provident Fund Organization (EPFO). The government of India has introduced the Employees Deposit Linked Insurance Scheme (EDLI) in 1976 to help the employees particularly keeping in mind the private-sector employees who may not enjoy any social security benefits as normally…

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