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EPFO 3.0 is becoming a key retirement savings update for salaried employees, as the Employees’ Provident Fund Organisation moves more services to a faster digital system. The upgrade is aimed at reducing paperwork, speeding up claim processing and giving members easier access to provident fund services through online channels. EPFO 3.0: What PF Account Holders…
Ukraine is building and fielding a growing fleet of new high-speed interceptors to hunt down Russia’s fastest attack drones as Kyiv looks to fill gaps in its air defenses. Ukrainian company Wild Hornets said on Monday that a tactical air defense unit used the firm’s new Sting S interceptor to shoot down a Russian Geran-5…
Fierce competition for space is letting New York City’s office landlords pull back from flexibility they offered to tenants in the years that followed the pandemic. Bisnow/Ciara Long Meister Seelig & Schuster’s Howard Koh, Tishman Speyer’s Samantha Augarten, Silverstein Properties’ Keith Cody and KPMG’s Michael Plavin onstage at Bisnow’s New York Commercial Leasing and Asset…
By Erik Hertzberg (Bloomberg) — Bank of Canada Governor Tiff Macklem said policymakers don’t want to be late to hike interest rates should inflationary pressures prove to be stubborn. In the text of a speech to be delivered in Halifax, Nova Scotia, Macklem said that while officials don’t want to hike borrowing costs if prices…
The S&P 500 Index ($SPX) (SPY) is up by +0.61% today, the Dow Jones Industrial Average ($DOWI) (DIA) is up by +0.17%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.33%. December E-mini S&P futures (ESZ26) are up +0.70%, and December E-mini Nasdaq futures (NQZ26) are up +1.40%. Stock indexes are rising today, with the S&P 500 posting…
The Reserve Bank of India (RBI) on Monday tightened rules governing the classification of investments between banks’ trading and banking books to prevent regulatory arbitrage, while allowing lenders to exclude certain structural foreign exchange positions from their net open position (NOP) under a new market-risk capital framework. Banks will not be allowed to shift…
Finance ministry officials met chief executive officers of public-sector banks (PSBs) on Monday and asked lenders to make adequate preparations ahead of the three-day strike from September 28 called by employee unions to minimise disruptions. Banks are taking several steps to ensure normal operations, including filling automated teller machines (ATMs) with cash and deploying…
Almost half of Scottish adults who do not own a home believe they will never do so, new research suggests. Pepper Money found that 47% of Scots who are not yet on the property ladder feel that home ownership will remain permanently out of reach. The figure rises to 55% among those who have complex…
The Reserve Bank of India (RBI) on Monday said inflows through its concessional forex swap window, operationalised on June 8, had topped $143.5 billion as of September 18 across FCNR(B) deposits, overseas foreign currency borrowings (OFCBs) and external commercial borrowings (ECBs), with FCNR(B) deposits accounting for the bulk of the inflows at nearly $133 billion….
Issuers can invest in faster, more precise credit decisions, but those improvements alone may not persuade customers to change how they pay. Cardholders need to see a benefit they can understand and trust, whether that means choosing how to repay a purchase, receiving credit terms suited to their circumstances or understanding why a credit decision…