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  • Pensionable Age Cut: Will the age for additional pension for retired employees be reduced? know latest update


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    Pensionable Age Cut: The government has assured that the payment of additional pension is made automatically through banks and pension distribution agencies. Instructions are also issued from time to time to avoid any delay or disturbance in this.

    There has been a long standing demand to reduce the existing age limit for additional pension to retired central employees. However, the government has once again clarified its stand on this matter. The central government said that there is no plan to reduce the minimum age eligibility for additional pension to retired central employees.

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    There is no approval for reducing the minimum age limit for additional pension
    The central government has made it clear that the minimum age for additional pension will remain 80 years. In response to a question asked in the Lok Sabha, the government said that there was a proposal to increase this limit to 65 years, but it has not been approved.

    An MP asked whether the government was considering reducing the age limit to 65 years as recommended by the Parliamentary Standing Committee on Pensioners’ Grievances and, if so, sought details about it.

    In response to this question, Union Minister of State for Personnel Jitendra Singh said in the Lok Sabha that on the recommendation of the Sixth Pay Commission, the government has approved 20% additional pension at the age of 80 years, 30% at the age of 85 years, 40% at the age of 90 years, 50% at the age of 95 years and 100% at the age of 100 years.

    He said that as age increases, especially health-related needs also increase, so provision for additional pension has been made. But there is no plan to reduce the minimum age eligibility for additional pension.

    Will the rules on additional pension age change for central government employees?
    The Parliamentary Standing Committee had recommended giving additional pension from the age of 65 in 2021. The government considered it and also submitted its report in 2022. After this, the committee decided not to pursue the issue further. That is, at present the government has no plans to reduce the minimum age eligibility.

    How are central government pensioners paid?

    The government has assured that the payment of additional pension is done automatically through banks and pension distribution agencies. Instructions are also issued from time to time to avoid any delay or disturbance in this.

    How will the impact of rising inflation on pension be reduced?

    Dearness Relief (DR) is given to pensioners, which applies to both their basic pension and additional pension. Its rate is the same as that of Dearness Allowance (DA).

    Possibility of change in pensionable age in future?

    At present, the government does not intend to make any changes in this rule. But in view of the rising inflation and cost of living, the government will keep an eye on this issue. It is clear from this decision of the government that one should not expect to get additional pension before the age of 80 years. At present, Dearness Allowance is the only support for retired central employees, through which they can get some relief.

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  • AAP government’s New Year gift, Electricity charges reduced by up to 50 percent…


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    Delhi Election 2025: The Aam Aadmi Party government of Delhi has given a big gift to the people of Delhi on the occasion of the New Year. According to the statement issued by the ‘AAP’ government, the surcharge on electricity bills has been reduced significantly just before the assembly elections. This will give great relief to the people and the electricity bill will also reduce.

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    In fact, the rates of Power Purchase Adjustment Charge (PPAC) which were earlier 35.83 percent for BRPL, 38.12 percent for BYPL and 36.33 percent for TPDDL. Now it has been reduced to 18.19 percent, 13.63 percent and 20.52 percent respectively. After this reduction, the electricity bills of all consumers of Delhi will come down. Delhi Chief Minister Atishi also holds the power ministry. He said that this has been possible only because of the honest and people-friendly government of Aam Aadmi Party.

    Chief Minister Atishi said that the Delhi government has been able to achieve this (electricity surcharge) only through proper management and pre-planning of the power supply chain. He also informed that in neighbouring cities like Noida and Gurugram, not only are the electricity rates high, but there are also frequent power cuts during the summer season. Whereas in Delhi, people enjoy 24-hour power supply and due to our policies, in many cases their electricity bills are also zero.

    Chief Minister Atishi said that the Delhi government has always given priority to protecting consumers from increase in electricity tariffs. So that the electricity distribution companies (DISCOMs) follow the rules set by the Delhi Electricity Regulatory Commission (DERC). DERC, which is the only authorized body to impose Power Purchase Cost Adjustment Charge, works under its ‘Tariff Regulations 2017’. In this manual, all the details of the process, framework, approval, recovery and adjustment related to PPAC have been decided.

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  • Fixed Deposit New Rates: Yes Bank has reduced the interest rates on Fixed Deposit – Check Latest Rate

    Yes Bank Fixed Deposit New Rates : Private sector bank Yes Bank has shocked its crores of customers. Yes Bank has reduced the interest rates on Fixed Deposit. Yes Bank has cut the interest rates of some fixed deposits (FDs) by 25 basis points (bps).

    These new interest rates have come into effect from November 5, 2024. Now the interest rates of FD for general customers range from 3.25% to 7.75%, while for senior citizens these rates range from 3.75% to 8.25%. The highest interest rate is being offered on 18-month FD, with a rate of 7.75% for general customers and 8.25% for senior citizens. The interest rate on 18-month FD has been reduced from 8% earlier to 7.75%, a reduction of 25 bps.

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    Yes Bank FD

    The bank has increased the interest rates on FDs of certain tenures on FDs of less than Rs 2 crore. Yes Bank has made these rates effective from 30 May 2024. Yes Bank is now offering interest rates between 3.25% to 7.75% to general citizens and 3.75% to 8.25% to senior citizens on FDs maturing in seven days to ten years.

    Yes Bank FD Rules

    The minimum amount required to start an FD is Rs 10,000. Senior citizens get 0.50% extra interest on FDs of less than 3 years and 0.75% extra interest on FDs of 3 years or more, which is applicable on FDs of less than Rs 5 crore.

    Penalty for premature withdrawal of FD

    There is a penalty for premature withdrawal of FD, which will be applicable on FDs of less than Rs 5 crore.

    Yes Bank FD Rates

    • 7 days to 14 days: 3.25 per cent (general public)/ 3.75 per cent (senior citizens)
    • 15 days to 45 days: 3.70 per cent (general public)/ 4.20 per cent (senior citizens)
    • 46 days to 90 days: 4.10 per cent (general public)/ 4.60 per cent (senior citizens)
    • 91 days to 120 days: 4.75 per cent (general public)/ 5.25 per cent (senior citizens)
    • 121 days to 180 days: 5 per cent (general public)/ 5.50 per cent (senior citizens)
    • 181 days to 271 days: 6.10 percent (general public)/ 6.60 percent (senior citizens)
    • 272 days to less than 1 year: 6.35 per cent (general public)/ 6.85 per cent (senior citizens)
    • One year: 7.25 per cent (general public)/ 7.75 per cent (senior citizens)
    • 1 year to 18 months: 7.50 per cent (general public)/ 8 per cent (senior citizens)
    • 18 months: 7.75 per cent (general public)/ 8.25 per cent (senior citizens)
    • 18 months to less than 24 months: 7.75 per cent (general public)/ 8.25 per cent (senior citizens)
    • 24 months 1 day to less than 36 months: 7.25 per cent (general public) / 7.75 per cent (senior citizens)
    • 36 months to 60 months: 7.25 per cent (general public)/ 7.75 per cent (senior citizens).
    • 60 months: 7.25 per cent (general public)/ 8 per cent (senior citizens)
    • 60 months 1 day to 120 months: 7 per cent (general public)/ 7.50 per cent (senior citizens)

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  • Toll Tax: Now toll tax collection will be in the hands of banks, congestion will be reduced

    Toll Tax: Making a major change in toll collection on national highways, the National Highways Authority of India (NHAI) has now decided to hand over the task of toll collection to banks.

    This new system will start from Dwarka Expressway, which has become India’s first Multi-Lane Free Flow (MLFF) toll collection system. NHAI has invited bids from banks for this, in which the bank offering the highest revenue share will be given tolling rights for three years.

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    MLFF system eliminates the need for physical toll plazas

    Under the MLFF system, traditional toll plazas will not be used. Instead, sensors and equipment will be installed on the pillars, which will collect information of passing vehicles. As soon as a vehicle passes these sensors, the vehicle information will be sent to the electronic toll payment system, which will deduct the amount from the Fastag wallet. The system aims to reduce congestion at toll plazas and make the experience of motorists easier. It will also ensure more transparency in toll collection as banks are regulated by the Reserve Bank of India (RBI).

    Banks allowed to have sub-contractors

    Since banks do not have direct experience in toll collection, NHAI subsidiary IHMCL has allowed banks to hire sub-contractors. According to the bid document, the sub-contractors should have experience of working on a tolling system of at least 200 km, whether in India or abroad. These sub-contractors will help in further streamlining the toll collection process.

    Conditions in NOC and fitness certificate on outstanding toll

    The MLFF system will not only deduct toll fee from the Fastag wallet but will also identify vehicles that do not have a Fastag or whose tag is defective. The information of such vehicles will be shared with the central vehicle database ‘Vahan’, making it mandatory for drivers to pay the outstanding toll. If they do not pay the outstanding amount, they will not get NOC and fitness certificate, which will bring more transparency in the process.

    Toll rates not yet decided

    Toll rates have not been decided yet for the 28 km long Dwarka Expressway. Toll will be collected only from the tolling point located on the Delhi-Gurgaon border. The successful bidder will get the right to collect toll for three years and will have to implement this system within three months of getting the contract.

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  • LIC Policy new Rules! LIC changed insurance policy rules, reduced entry age, increased premium

    LIC

    Life Insurance: Life Insurance Corporation has made new changes from October 1. Along with this, the public sector company has also implemented new rules for surrender value.

    Life Insurance: The country’s largest insurance company LIC has made changes in many of its popular plans. Now the entry age in the New Endowment Plan has been reduced from 55 years to 50. The new changes are very harmful for older people. Apart from this, the premium has also been increased. LIC has implemented these rules from October 1, 2024. According to industry experts, the company wants to reduce its risk due to the increased possibility of death after this age.

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    Endowment plans offer maturity benefits along with life cover

    According to a report by Business Standard, Life Insurance Corporation of India has also implemented new surrender rules. LIC’s New Endowment Plan-914 not only gives you security cover but it is also a savings plan. In this, the benefits of death and maturity are combined together. In an insurance policy with an endowment plan, you get life cover as well as maturity benefits. Due to this, the family is paid if the person dies during the policy. Also, different benefits are available on maturity. LIC has not yet given any answer regarding this change.

    LIC has 6 endowment plans, changes came into effect from October 1

    According to the LIC website, the company has 6 endowment plans. These include LIC Single Premium Endowment Plan, LIC New Endowment Plan, LIC New Jeevan Anand, LIC Jeevan Lakshya, LIC Jeevan Labh Plan and LIC Amritbaal. Changes have been made in all these plans from October 1, 2024.

    Premium rates also increased by about 10%, sum assured also increased

    LIC has made changes in about 32 products according to the surrender value rules. According to sources, the premium rates have also increased by about 10 percent. Apart from this, the sum assured in New Jeevan Anand and Jeevan Lakshya has also been increased from Rs 1 lakh to Rs 2 lakh. On the other hand, private companies have increased the premium rates of endowment plans by only 6 to 7 percent.

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  • MG Comet EV and ZS EV now offered with battery-as-a-service; prices reduced

    MG Motor India has announced that the Comet EV and ZS EV are now available under the innovative Battery-as-a-Service (BaaS) program, leading to significant price reductions. The new starting prices for the Comet EV and ZS EV are Rs. 4.99 lakh and Rs. 13.99 lakh, respectively.

    The BaaS program, which MG initially introduced with the Windsor EV, allows customers to rent the battery on a pay-as-you-use basis, significantly lowering the upfront cost of the vehicle. The Comet EV’s rental cost starts at Rs. 2.5 per kilometer, while the ZS EV starts at Rs. 4.5 per kilometer.

    MG’s current lineup includes the Windsor, Comet, and ZS EVs. With the BaaS program now extended to the Comet and ZS models, the automaker aims to make electric vehicles more accessible. Additionally, customers can benefit from a 60 percent assured buyback policy after three years of ownership.

    Satinder Singh Bajwa, Chief Commercial Officer of JSW MG Motor India, stated, “With BaaS, we have created a platform for easy ownership, making our EVs more accessible than ever. Given the strong response to Windsor under the BaaS program, we are now extending its benefits to our popular EV models, the Comet and ZS. I am confident that this unique ownership model will further boost EV adoption in the country.”

    The new pricing and rental options are expected to attract more customers to MG’s electric vehicle lineup, reinforcing the company’s commitment to sustainable mobility solutions.

  • Budget Expectations: GST should be reduced on insurance products, government should increase the limit of 80C – Industry

    budget

    Budget 2024, Insurance Industry Demand: Finance Minister Nirmala Sitharaman will present the Union Budget 2024 on July 23. Everyone from the common man to the industry is keeping an eye on the budget.

    Every sector hopes that this budget will bring some relief news for them. Talking about the insurance industry, it believes that there is a need to reduce the cost of insurance products. Also, to expand it as much as possible, tax rates should be reduced. Be it health insurance or life insurance, it is necessary to impose minimum tax of GST on them.

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    Shriram General Insurance Company’s Executive Director and CIO Ashwani Dhanawat says, “We hope that the government will focus on several key sectors necessary for economic growth and public welfare in the upcoming budget. We welcome the possibility of a high budgetary allocation for the insurance sector. This will enhance IRDAI’s ability to provide comprehensive coverage and effective solutions to a large population in achieving its ‘Insurance for All’ mission.”

    Vivek Jain, Head of Investments, Policybazaar.com, says, the insurance sector has a lot of expectations from the budget. Especially, taxation for pension products should be reconsidered. To make retirement policies more attractive, the insurance industry is demanding the government to give pension products the same tax benefits as the National Pension System (NPS). This will help ensure a secure financial future for the elderly of India.

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    GST reduced, deduction limit increased

    Ashwini Dhanawat says, healthcare costs are constantly increasing. In view of this, we hope that the deduction limit for health insurance premium will be increased. This will provide relief to the policyholders. Apart from this, there is a need to reduce GST on health insurance policies. This will make these essential products cheaper and will make them accessible to more and more people.

    Rishabh Garg, Head (Term Insurance) of Policybazaar says, the scope of tax deduction under section 80C should be increased. It has been 1.5 lakhs for a long time. Apart from this, the GST rate should be reconsidered. Currently it is 18% for health and term insurance. This limit should be reduced to 5%.

    The industry says that the tax deduction limit for health insurance premium should be increased. Especially for individuals, their spouses and dependent children, the tax limit should be increased to Rs 50,000 and for senior citizen parents, the limit should be increased to Rs 1 lakh. Also, Health Savings Account (HSA) should be tax free. These changes will encourage health and wellness.

     

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  • HDFC Bank reduced the notice period! Now notice will have to be given not for 3 months but only for this many days.

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    HDFC Bank reduced the notice period! Now notice will have to be given not for 3 months but only for this many days.
    HDFC Bank reduced the notice interval! Now notice will have to be given not for 3 months but only for this many days.

    India’s largest non-public financial institution HDFC Bank has taken a giant determination. HDFC Bank has reduced the notice interval of workers leaving the firm from 90 days to 30 days.

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    India’s largest non-public financial institution HDFC Bank has taken a giant determination. HDFC Bank has reduced the notice interval of workers leaving the firm from 90 days to 30 days. It is being mentioned that the objective of this change is to be certain that workers get extra flexibility. However, completely different individuals have completely different opinions concerning this on social media.

    What has the financial institution mentioned?

    A display shot of an e mail despatched by HDFC Bank is changing into more and more viral on social media. The HR division of the financial institution has written in the e mail – ‘Dear mates, we wish to inform you that the notice interval of all confirmed workers resigning from the firm has been reduced from 90 days to 30 days with quick impact. The notice interval of the workers who’re on probation will stay the identical as earlier than, 30 days. All different circumstances of employment will stay the identical as earlier than as per the settlement.

    hdfc bank

    ICICI Bank additionally did this

    HDFC is the second non-public financial institution to scale back the notice interval. Earlier, ICICI Bank has additionally reduced the notice interval of its workers in 2020. At the identical time, there’s nonetheless a notice interval of 90 days in many public sector banks together with State Bank of India, Punjab National Bank, Bank of Baroda, Kotak Mahindra Bank.

    Different reactions on social media
    Different issues are being mentioned on social media concerning discount in notice interval by HDFC Bank. Some individuals consider that this will profit each the financial institution and the workers. Employees will not have to keep for lengthy even after resigning, whereas the financial institution will see higher productiveness as a result of most of the individuals work half-heartedly throughout the notice interval. Some individuals are additionally seeing the discount in notice interval as making it simpler for workers to depart the firm. He is linking it to recession and is saying that preparations for the identical are happening.

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  • LPG New Price: LPG cylinder became cheaper, see how much the price reduced from Delhi to Kolkata.

    LPG New Price: LPG cylinder became cheaper, see how much the price reduced from Delhi to Kolkata.
    LPG New Price: LPG cylinder became cheaper, see how much the price reduced from Delhi to Kolkata.

    There has been some aid from the discount in the charges of economic cylinders amid the Lok Sabha elections. LPG cylinder charges have reduced by Rs 19 from right this moment.

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    LPG Price 1 May: Consumers of LPG cylinders have gotten some aid amid the Lok Sabha elections 2024. LPG cylinder charges have reduced by Rs 19 since Wednesday. The price of LPG has been reduced solely in industrial cylinders. There is presently no change in the price of home cylinders this month.

    According to IOC, a 19 kg Indane LPG cylinder will likely be accessible in Delhi for Rs 1745.50 as a substitute of Rs 1764.50 from May 1 i.e. right this moment. It was accessible for Rs 1795 in March. In Kolkata it’s going to now be accessible for Rs 1859.00 as a substitute of Rs 1879.00.

    Here the price of LPG has been reduced by Rs 20. Now in Mumbai it is going to be accessible for Rs 1698.50 as a substitute of Rs 1717.50. Commercial LPG cylinder in Chennai will now be accessible for Rs 1911 as a substitute of Rs 1930.00.

    There isn’t any change in the price of home LPG cylinders from Agra to Agartala and from Kashmir to Kanyakumari right this moment. Today home LPG cylinder will likely be accessible in Lucknow for Rs 840.5. Domestic LPG cylinder in Jaipur, Rajasthan is Rs 806.50.

    Domestic cylinder price in Gurugram stays secure at Rs 811.50. The price of home cylinder in Ludhiana, Punjab is Rs 829. In Patna, Bihar, home cylinder will likely be accessible at its outdated price of Rs 901.

    When did the costs lower?
    Earlier, on Women’s Day, Modi authorities had given a giant reward to the customers of home cylinders. On at the present time, there was a giant reduce in the costs of LPG cylinders for the second time in six months.

    After lowering the price of LPG cylinder by Rs 200 on Rakshabandhan, the authorities additional reduced the charges of home cylinders by Rs 100 in March. The price of 14 kg home cylinder became Rs 803 in Delhi. Even right this moment it’s accessible at this price.

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  • Nitin Gadkari’s big plan! Electric buses will run from Delhi to Shimla, Chandigarh, fare will also be reduced by 30%.. know details here

    Nitin Gadkari's big plan! Electric buses will run from Delhi to Shimla, Chandigarh, fare will also be reduced by 30%.. know details here
    Nitin Gadkari’s big plan! Electric buses will run from Delhi to Shimla, Chandigarh, fare will also be reduced by 30%.. know details here

    If Union Transport Minister Nitin Gadkari is to be believed, electrical buses will begin working in all of the cities of the nation within the subsequent 5 years. Not solely this, there are plans to run e-buses on some lengthy routes also. This will scale back the fare by 30 p.c and the setting will also profit.

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    Travel amenities from Delhi to Shimla and Chandigarh are going to improve additional. Union Road and Transport Minister Nitin Gadkari has informed a mega plan for the approaching days. He stated that quickly there are preparations to run electrical buses to the vacationer locations round Delhi. After this, electrical buses will be run throughout the nation. Both vacationers and the setting will profit from this. Our plan is to run lengthy distance electrical buses within the nation. This will scale back fares and air pollution will also scale back.

    Gadkari stated, the federal government has made full planning to run electrical buses in nearly all of the cities of the nation within the subsequent 5 years. Besides, electrical buses will also be run on some lengthy routes. In this, there are preparations to run electrical buses between Delhi to Shimla and Chandigarh, Pune to Mumbai. Currently, CNG buses run in nearly all of the big cities of the nation, which has reduced air pollution, however nonetheless quite a lot of work stays to be executed on this.

    Fares will turn out to be cheaper.

    Nitin Gadkari stated that vacationers and passengers will also profit from the arrival of electrical buses. There will be a 30 p.c discount in fares for electrical buses as in contrast to buses working on standard gasoline. The greatest purpose for that is that after the beginning of battery manufacturing within the nation, its costs are falling quickly.

    Battery manufacturing within the nation has elevated by 3 occasions.

    Gadkari stated that the manufacturing of Lithium primarily based batteries within the nation has elevated by greater than 3 occasions. In the previous few years it has elevated by 350 p.c. Due to improve in manufacturing its costs have also declined. The worth of Lithium Ion battery has fallen from $150 per kWh to $120 per kWh. When its worth reaches $100 per kilowatt, the fare will also begin falling by 30 p.c.

    Monthly bills will scale back 10 occasions.

    Gadkari stated that after the autumn in battery costs, the price of working electrical automobiles will also scale back. If you spend 20 to 25 thousand rupees a month on petrol and diesel, then your expenditure on electrical automobile will be restricted to Rs 2,000. This implies that your present expenditure will be reduced to one-tenth. At current there are greater than 400 e-scooter manufacturing corporations within the nation. With improve in manufacturing, costs will also fall quickly.

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