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The finance ministry is looking at some of the suggestions of PFRDA including increasing upper age limit for availing Atal Pension Yojana (APY) to 50 years, Financial Services Secretary Rajiv Kumar said.   The Pension Fund Regulatory and Development Authority (PFRDA) has sought the ministry's nod to double the guaranteed minimum pension under the scheme to Rs10,000 per month and increase the upper age limit to avail the scheme to 50 from  existing 40.   "The PFRDA is thinking of buckets of investments in which higher returns can be generated. All these are good suggestions. I can assure you that we will carefully and diligently look at all the suggestions," he said here. Kumar also exhorted banks to find innovative tools to push APY. Citing some examples, he said, banks can tap Mudra beneficiaries, Self Help Group members or Aganwadi workers.   There are five crore Mudra loan beneficiaries and the target would be met even if 20% of them within the age group ...

The Central Bureau of Investigation (CBI) has filed a case against Chanda Kochhar, the then managing director (MD) and chief executive (CEO) of ICICI Bank, her husband Deepak Kochhar, VN Dhoot, MD of Videocon group, Videocon International Electronics Ltd, Videocon Industries Ltd and NuPower Renewables Pvt Ltd and Supreme Energy Pvt Ltd. It is alleged that accused sanctioned certain loans to private companies in a criminal conspiracy with other accused to cheat ICICI Bank. The CBI also carried out searches at headquarters of Videocon Group in Mumbai and Aurangabad. The CBI has registered the FIR in connection with the Rs3,250 crore loan to the Videocon Group given in 2012. The CBI may probe role of senior officers on the sanctioning committee of ICICI Bank, including KV Kamath, Sandeep Bakshi, K Ramkumar, Sonjoy Chatterjee, NS Kannan, Sonjoy Chatterjee, NS Kannan and Homi Khusrokhan. The action comes in the wake of a preliminary enquiry the agency registered on 31 March 2018 agains...

HIGHLIGHTS The government is expected to double income tax exemption threshold from Rs 2.5 lakh to Rs 5 lakh Decision expected on lowering the highest personal income tax rate from 30 per cent to 25 per cent The government is expected to announce a direct transfer benefit scheme for farmers With just 10 days left before Jaitley's Parliamentary budget speech, here are some key economic changes that the government is likely to announce: Income tax exemption threshold to be doubled The government is expected to double income tax exemption threshold from Rs 2.5 lakh to Rs 5 lakh, reported news agency IANS. This is probably one of the biggest expectation on cards from this year’s interim budget. Jaitley is also expected to reinstate tax-free status for medical expenses and travel allowances in a bid to offer better tax reliefs to people. While taxpayers have gradually increased in the country after the implementation of stricter laws, a large share of the populat...

Before every annual budget, the real estate sector trots out a highly optimistic (and unrealistic) wish-list to the Finance Ministry. Whether the industry actually expects the upcoming budget to cure all its woes, with a wave of its magic wand, is beside the point. Unrealistic expectations – many completely outside the purview of the Finance Ministry – have become the norm. Single-window clearance, industry status and hiked tax exemptions limits, which will miraculously revive demand for properties, have become the usual suspects in such wish-lists. Under such circumstances, there is a need to be rational in our expectations from an interim budget, which is announced shortly before the general elections. Though the larger ‘acche din’ premise is debated to the present day, the first union budget under the Modi government in 2014, was certainly a harbinger of change for buyers and builders. Tax payers’ exemption limit was increased after a decade of forlorn waiting. During the govern...

Given below are the various orders issued by SEBI with regards to disposal of properties of Pancard Clubs. Click on the links to view them: 1]  Confirmation of Sale of United 21 Tadoba - SEBI order 2]  Confirmation of sale of United 21 Pench - SEBI order 3]  https://www.sebi.gov.in/enforcement/recovery-proceedings/jan-2019/order-no-161-of-2019-confirmation-of-sale-in-the-matter-of-pancard-clubs-ltd-united-21-udaipur_41655.html 4] https://www.sebi.gov.in/enforcement/recovery-proceedings/jan-2019/order-no-160-of-2019-confirmation-of-sale-in-the-matter-of-pancard-clubs-ltd-gr-floor-khatau-house-mahim_41654.html 5]  https://www.sebi.gov.in/enforcement/recovery-proceedings/jan-2019/order-no-164-of-2019-confirmation-of-sale-in-the-matter-of-pancard-clubs-ltd-united-21-mahabaleshwar_41653.html 6]  https://www.sebi.gov.in/enforcement/recovery-proceedings/jan-2019/order-no-159-of-2019-confirmation-of-sale-in-the-matter-of-pancard-clubs-ltd-a-108-nerul-...

Market regulator Securities and Exchange Board of India (SEBI) said the Justice RM Lodha Committee appointed by the Supreme Court has paid up to Rs2,500 each to 1,13,352 investors of PACL Ltd (erstwhile Pearls), who had filed the claims in prescribed forms. In a release, SEBI said, "The Committee, in pursuance of its mandate started the process of receipt of claim applications, at the first instance, from investors having claims of not more than Rs2,500. The said process was open till 31 March 2018.   "...the Committee has started remitting refunds to investors after verification of the claim applications as received. Till date refunds in respect of 1,13,352 claim applications have been credited to the bank accounts provided by the investors in the claim applications,' it added.   Last month, the Australian Federal Court had accepted claim filed by SEBI on assets of PACL in that country. The Australian Federal Court also stated that as per three orders passed ...

Though application date has been expired to apply PACL refund form online. But for the next round we have posted a video so that you can know how to fill pacl refund application form online. You don’t need to PACL refund form to be downloaded. How can PACL investors apply for refund online? 1.  SEBI had said that the Lodha panel will invite claims from the affected PACL investors who have a total Principal Amount up to Rs.2, 500 with PACL. This will be the first round of refunds that will be generated. 2. Investors seeking refunds must send their claim applications to SEBI with their details either by sending SMS to 562632 or by uploading all the details at  https://sebicommitteepaclrefund.com/ 3.  The refund form applications were to reach the panel by March 31st, 2018. 4.  The details of the PACL investors seeking refunds must include the following information: • Name of the PACL investor as mentioned on the PACL Certificate • Amount(in Rs.) to be ...

A real estate company, Pearls Agrotech Corporation Limited (PACL) ditched the investors and collected more than Rs. 50,000 crores from them. The investors were duped and they never got the land they were promised. When this scam came to light, SEBI and the Indian Government looked into the matter and the proceeds of the case were handed over to the Justice R. M. Lodha Committee. The Committee had invited claims from the PACL investors and also planned to recover the entire amount by selling off various scattered properties of PACL. Sources of Funds Recovery The Committee had earlier mentioned that it will adopt the following recovery process to refund the investors: 1121 PACL FDRs with 23 Banks Rs. 16, 86, 98,766 recovered from Systematic Venture Capital Trust (until 06.01.2017) Rs. 72, 37,393 collected from PACL hotels 100 million collected from other PACL properties in Australia + Sheraton Mirage Hotel worth 170 million 100 million Australian Dollars which equals to Rs....

The committee already has the details of around 29,000 properties of PACL and the details of additional 13,863 properties is received by the committee, the regulator said in a release. Markets regulator Sebi  said the committee headed by Justice R M Lodha in the  PACL Ltd  case has received details of additional 13,863 properties of the real estate firm.  The committee already has the details of around 29,000 properties of PACL and the details of additional 13,863 properties is received by the committee, the regulator said in a release.  PACL also known as  Pearl Group , which had raised money from the public in the name of agriculture and real estate businesses, was found by  Sebi  to have collected these funds through illegal collective investment schemes over 18 years.  The panel, headed by former Chief Justice of India Lodha, is overseeing the process of disposing of properties to refund investors after verifying their genuineness. T...

Futures and options investing can be a high-risk business and must only be carried out with risk capital, which can’t change your lifestyle on the off chance that the speculation is lost. About Options: At whatever point you buy an options you aren’t prescribed to set up any edge as you are purchasing the choice on a settled cost likewise called the premium. The premium can diminish over the life expectancy of the choice when the hidden cost for the item moves towards your position or remains level. In the event that the choice isn’t practiced before the termination date, you can lose the premium that was paid, plus the seller for the option can profit from the amount paid for the premium. About Futures: Futures: At the same time as the premium for futures options, can waste away over time the futures agreement will not. It is possible to consider the margin on the futures agreement as earnest money which will cause you to responsible for the entire amount on the futures agre...

Small investors pay higher brokerage fees than large investors. When you are a small investor, the stock market can be a scary place. Small investors face a number of extra challenges that put them at a disadvantage against larger, wealthier investors. Fortunately, there are a number investment strategies that you can use as a small investor to get around these problems and break the bank on your investments. Small Investor A small investor is any investor that isn't an institutional investor or a high-net worth investor. An institutional investor is someone who trades stocks for a living at a bank or other financial institution. Small investors generally invest in individual stocks, mutual funds and index funds. While they have other investment choices available, such as options, these investments are usually too complicated and expensive for small investors. Costs A big disadvantage small investors face in the stock market is costs. In the same way Walmart c...

The Parliament's budget session 2019 is expected to be held from January 31 to February 13 and the Finance Minister Arun Jaitley will present the Interim Budget on February 1, reportedly scrapping the standard practice of a vote-on-account. This will be his sixth and last budget presentation under the current government before the 2019 general polls. With less than three weeks to go for Finance Minister Arun Jaitley's Budget 2019 speech, speculation is rife on what he may end up offering Indians just months ahead of the general elections. The wish list of the common man as well as industry chambers includes income tax sops, and the buzz is that the government is likely to give in. Jaitley may double the income tax exemption threshold for the salaried from Rs 2.5 lakh currently to Rs 5 lakh and reinstate tax-free status for medical expenses and transport allowance. Last November, the finance ministry had set up a six-member task force to rewrite the over 50-year-old Inco...