Daily Archives: 13th July 2019

EPFO says it will stick to 8.65% rate for FY19

NEW DELHI: The labour ministry and Employees Provident Fund Organisation (EPFO) are sticking to the 8.65% return proposed by the retirement savings body’s board of trustees, citing adequate reserves and the Narendra Modi government’s pre-poll political backing to the plan. The finance ministry has objected to the proposal for increasing the payout for 2018-19 to […]

Amendment no Aadhaar for mobile wallet firms

MUMBAI: The amendment to the Aadhaar Act passed by Parliament on Tuesday seems to have brought little respite for Paytm, Ola Money and PhonePe, mobile-wallet businesses that are weighed down by costs of verifying customers manually. The latest Aadhaar amendment allows banks to open accounts using Aadhaar as a non-binding document for customer verification using […]