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Neither banning nor legalising crypto is a solution, says IMF-FSB synthesis paper
The paper also underlined that a blanket ban on these assets is neither advisable nor logistically possible. However, it proposes coming up with comprehensive regulations that are uniform across authorities, following the principle of “same activity, same risk and same regulation”.
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Digital loans find most takers amongst Gen Z, notes GFF report
Unsecured loans registered the fastest growth amongst all loan categories, with personal loans payable standing at Rs 10.25 trillion. About 73% of total loans availed in FY 22-23 had a tenure of less than 6 months. 79% of all loans taken digitally had a ticket size of less than Rs 10,000.
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Crypto akin to drugs, intl co-operation needed: FM
The Reserve Bank of India (RBI) governor Shaktikanta Das has time and again, called for completely banning cryptocurrencies, since they were akin to gambling in his opinion
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NPS subscribers will soon get more annuity options
NPS has also begun receiving resounding acceptance as a tax-efficient instrument for retirement planning in recent times. As per data, around 14,027 corporates are currently registered with NPS, adding a total of 18.13 lakh subscribers to the system.
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EPFOs gets nod to invest redemptions in ETFs
Per government mandate, EPFO is allowed to invest anywhere between 5 to 15% of its corpus in equity instruments. However, this ceiling has never been utilized by EPFO, with its maximum investment going just a little over 10%.
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Be there for your kids even after your death : The importance of will planning
About Rs 5,675 crores are also lying dormant as of 31st January, 2023 in the investor education and protection fund (IEPF), where all shares, dividends, debentures and accumulated interest that has stayed unclaimed for 7+ years are transferred.
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DoT cracks down on fake SIMs
According to government data, since May 2023, about 52 lakh mobile connections and 67,000 dealers have been blacklisted. 300 FIRs have also been filed against SIM card dealers in the same period.
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Credit card spendings hit a new high in July
Debit card usage witnessed a steady decline, with the total value of online transactions via debit cards being a mere Rs 19,539 crores for July, 2023. In contrast, the value of online spending through credit cards touched Rs 95,000 crores.
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Investors chase high returns as small, mid cap funds shine, but is it right approach?
While large-cap mutual funds, which invest 80% of their money in stable, blue-chip companies do not guarantee sky-high returns, they offer security and regularity of returns.
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Indian gig workers vulnerable to economic smacks
What is concerning is that out of those gig workers surveyed, close to 40% were the primary breadwinners for their family. Moreover, 66.2% of gig workers did not have any savings, while 8.2% were unable to save, despite aspiring to do so.
