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Finance

Mutual Fund folios surpasses 6 crore mark at August-end on high retail push

Mutual Fund folios surpasses 6 crore mark at August-end on high retail push

Finance
Showing a growing interest for mutualfunds among investors, the number of folios has grown by 2.4 per cent to cross 6 crore at the end of August, according to a report by ICRA. The total folio count at the end of August stood at 6.08 crore, 2.4 per cent higher compared to July. The growth was primarily on the back of 10.9 lakh new folios added to the equity category (including equity-linked saving schemes) and another 2.36 lakh new folios to the balanced category, the report noted. Besides, investor awareness initiatives by Asset Management Companies (AMC) and regulatory bodies are helping to enhance the financial awareness and maturity of investors, which in turn is driving this growth, it added. Folios are numbers designated to individual investor accounts, though one inv...
Companies need to furnish new staff details online to EPFO from October

Companies need to furnish new staff details online to EPFO from October

Finance
NEW DELHI: The formal sector employers will be required to intimate about the details of their new employees online to retirement fund body EPFO from October 1, 2017, an EPFO official said today.The Employees' Provident Fund Organisation (EPFO) has decided to do away with filing of Form-9, a declaration by a person (employee) taking up employment in an establishment in which Employees' Pension Scheme is in force, a senior official said.This Form-9 is filed by the formal sector employers manually at present to intimate about their new employees.The body has taken this step in the wake of rapid computerisation in EPFO as an initiative towards Electronic Paper Free Organisation.The official said that since employee master (roll) is available in the system containing all relevant details of th...
Why Millennials should be really worried about the Equifax breach

Why Millennials should be really worried about the Equifax breach

Finance
Freezing your credit after Equifax hack...not so easyIt seems like every other day we read about a major hack or security breach that exposes our personal or financial information. But last week's news about a data breach at Equifax, one of the three major credit reporting agencies, was different. The type of information accessed -- Social Security numbers, birthdays, addresses -- was particularly extensive, leaving nearly half of all Americans vulnerable to identity theft. Thieves who get hold of your personal information can open bank accounts, new credit cards or lines of credit in your name -- and destroy your credit in the process. Identity theft is bad news for everyone, but it's especially dangerous for young adults. Millennials may need their credit sooner When you try to open a ...
Airtel Payments Bank launches UPI enabled digital payments

Airtel Payments Bank launches UPI enabled digital payments

Finance
NEW DELHI: Sunil Mittal-driven Airtel Payments Bank Sunday integrated the Unified Payments Interface (UPI) on its digital platform, allowing customer choice and convenience to facilitate secure digital payments. Airtel Payments Bank has become the first payments bank in India to integrate the UPI on its digital platform, the company said in a statement, adding that it would secure digital payments to online/offline merchants and instant money transfers to any bank account in India. In January, Bharti Airtel launched Payments Bank in India to enable transactions on digital platforms. The initiative will allow bank customers to link their bank accounts on Bhim app and make UPI payments. “We are pleased to announce UPI integration with Airtel Payments Bank. This would allow all our 20 mi
49,000 Aadhaar centres blacklisted for fleecing: Here's how to avoid getting conned

49,000 Aadhaar centres blacklisted for fleecing: Here's how to avoid getting conned

Finance
A recent revelation by the Unique Identification Authority of India (UIDAI) that it has blacklisted over 49,000 Aadhaar enrolment centres since its inception for fleecing and overcharging enrollers is a matter of concern for those who are yet to obtain Aadhaar or need to make corrections. Given that Aadhaar has become a vital document, it is important for us to ensure that we do not fall prey to these unscrupulous elements. The ill intentions of 'enrolment officials' fleecing consumers also raises a huge security concern. Therefore, if you are visiting an enrolment centre to get your Aadhaar details corrected or are applying for a new one, you must keep the following things in mind. 1. Currently, there is no fee to apply for a new Aadhaar card. It is clearly stated on the Aadhaar webs...