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Nearly 300 companies may not be giving interest on EPF deposits

Thursday, July 26, 2018, 7:24 PM

Lakhs of employees contributing from their salary to the EPF every-month may not be earning-interest for last two-years as government has spotted nearly 300-companies running their own PF trusts flouting rules and displaying ambiguity in their interest disbursement-process. Data from the labour ministry show that retirement fund body EPFO was suspicious about the activities of 331 exempted-companies. EPFO has ordered departmental-enquiry against them.
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All money in Swiss not black, will get all money data by 2019: Piyush

Saturday, June 30, 2018, 8:32 AM

On the backfoot after reports emerged that money parked by Indians in Swiss banks had risen by over 50 percent, the government indicated that all the funds that were deposited in Switzerland need not be black money. Finance minister Piyush Goyal said as per the agreement with Switzerland, all data from January 1, 2018, would be available with the government.
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RBI proposes Board of Management for urban co-operative banks

Monday, June 25, 2018, 8:49 PM

The RBI today proposed that all Urban Co-operative Banks (UCBs) having deposits of over Rs.100 crore will have to set up a Board of Management within one year to promote professional management in the banks. BoM will be in addition to the Board of Directors (BoD), said the RBI's draft guidelines on which it has invited public comments by July 24.

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