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The 2016 amendment to the Public Provident Fund Scheme introduced changes to Paragraph 9, Sub-rule 3(C), allowing for the premature closure of PPF Accounts. [49] Premature closure is now permitted after 5 years for the medical treatment of family members or for the higher education of the account holder.
In March 2022, the EPFO lowered the interest rate of 8.10% for the fiscal year of 2021-22. On 30 August 2022, EPFO proposed to remove the restrictions on the wage ceiling and headcount to allow all formal workers and self-employed to enrol in its retirement saving schemes. [10]
2016 Denarau Action Plan Launched at the 2016 AFI GPF in Nadi, Fiji, the action plan focuses on gender and women's financial inclusion, identifying measures that AFI members can take to increase the number of women with access to quality and affordable financial services globally to close the financial inclusion gender gap.
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited, or borrowed.
The U.S. prime rate is in principle the interest rate at which a supermajority (3/4ths) of American banking institutions grant loans to their most creditworthy corporate clients. [1] As such, it serves as the de facto floor for private-sector lending, and is the baseline from which common "consumer" interest rates are set (e.g. credit card rates).
Savings rates and high-interest accounts in the news ... December 17–18, 2024 ... with economic data indicating a continued decline from a peak of 9.1% in June 2022 to rates that have ranged ...
The adoption of the GPF-G has been in line global economic trends, especially investment patterns. International investment has increased at a significantly higher pace than either global GDP or global trade of goods and services , increasing by 175% over a period at which the former two metrics increased by 53% and 93% respectively.
The Pradhan Mantri fasal bima yojana (PMFBY) launched on 18 February 2016 by Prime Minister Narendra Modi is an insurance service for farmers for their yields. [1] It was formulated in line with One Nation–One Scheme theme by replacing earlier two schemes Agricultural insurance in India#National Agriculture Insurance Scheme and Modified National Agricultural Insurance Scheme by incorporating ...