On August 24, the Modi government launched a new pension scheme known as the Unified Pension Scheme (UPS). This scheme aims to provide pensions to government employees, similar to the Old Pension Scheme (OPS), but with certain new regulations. It’s important to note that the pension fund created by the government for its employees is ...
To understand this trick better, let’s establish some standard assumptions. Imagine you are 25 years old and you start investing ₹10,000 every month through a Systematic Investment Plan (SIP). Also, let’s assume you anticipate an average return of 12% on your investment until retirement. We mention 12% as a minimum; it could potentially be between ...
Unified Pension Scheme (UPS): A New Era for Government Employees The Unified Pension Scheme (UPS) is expected to impose an additional burden of ₹6,250 crore annually on the government treasury. This scheme aims to provide guaranteed pensions to 2.3 million eligible central government employees. Set to take effect from April 1, 2025, the government intends ...
The government runs several schemes to secure the economic future of all segments of society, among which the Provident Fund (PF) is one of the most significant. Generally referred to as PF, many people are not aware that it comes in three categories: Public Provident Fund (PPF), Employees’ Provident Fund (EPF), and General Provident Fund ...
The Indian government, led by Prime Minister Modi, unveiled the Old Pension Scheme (OPS) alongside the new Unified Pension Scheme (UPS) on August 24. This innovative scheme aims to address the needs of government employees by incorporating several provisions that resonate with the traditional Old Pension Scheme while introducing some new benefits. However, many employees ...
Introduction The Indian market is abuzz with the upcoming IPO of Premier Energies, a company engaged in the manufacturing and selling of solar panels—catering to major players like NTPC and TATA Power. This IPO is set to be open for subscription from August 27, 2023, and will remain available for bidding until August 29, 2023. ...
Anil Ambani, once one of India’s richest individuals and a prominent industrialist, is currently facing a significant setback due to a ban imposed by the Securities and Exchange Board of India (SEBI). This unprecedented situation raises questions about how Ambani intends to navigate the complex regulatory landscape and what future decisions he might make. A ...
Understanding OPS and UPS: Key Differences Explained In India, the government has introduced a new pension scheme for its employees known as the Unified Pension Scheme (UPS). This scheme is a response to the opposition’s demand for the reinstatement of the Old Pension Scheme (OPS). By incorporating features such as assured pensions, family pensions, and ...
The State Bank of India (SBI), the largest bank in the country, is currently navigating challenges in deposit growth; however, Chairman Dinesh Khara remains optimistic about the bank’s financial health. In light of rising concerns from the Reserve Bank of India (RBI) and the government regarding stagnant deposit growth, Khara emphasizes the bank’s ongoing asset ...
In recent months, India has emerged as a prime destination for global investors, with its economic growth hovering around 7%. Notably, in August, foreign portfolio investors have significantly invested in the country. However, interestingly, this investment has not been directed towards the stock market or as foreign direct investment (FDI) but has instead found its ...