PF withdrawal from ATMs: Labour Secretary Sumita Dawra announced that the Labour and Employment Ministry is currently in the process of enhancing its IT systems to better serve the workforce of India. She mentioned that EPFO subscribers can expect significant improvements, as they will soon have the ability to directly withdraw funds from their provident … Read more
After a brief swing to the deficit mode, liquidity in the banking system returned to a surplus this week, with analysts interpreting the Reserve Bank of India’s tolerance of extra cash with banks as a tilt towards easier policy ahead of the official interest rate statement next month. For seven days in September, the RBI … Read more
Reserve Bank Governor Shaktikanta Das on Monday said lower government borrowings than the market estimates will free more capital for the private sector resulting in easing of inflation and bolstering growth. “This year’s borrowing is lower than what initially the markets had expected. Lower quantum of borrowing means…it would ensure that much more resources will … Read more
Mumbai: Liquidity in the banking system has slipped into its deepest deficit in almost six months, inflating borrowing costs, as outflows due to corporate advance taxes and the Reserve Bank of India’s likely actions to stabilise the rupee have drained lenders of funds. As of September 16, the RBI infused ₹68,785.94 crore into the banking … Read more