Banking: Free Third-party ATM Withdrawals

The number of free withdrawals from third-party ATMs (automated teller machines) is likely to come down from five per month to two for bank account-holders in cities. RBI has asked banks to continue with the existing facility for rural ATMs. If there is no home bank ATM nearby and customers have exhausted their free usage, they will have to pay up to Rs20 for a cash withdrawal from a third-party ATM.

User

Regulation: Unclaimed Funds of Rs3,454 Crore Lying with Companies
Companies held unclaimed funds worth Rs3,454.3 crore up to March 2014; such amounts would be transferred to the Investor Education and Protection Fund after seven years, if not claimed, Parliament was informed. The unclaimed and unpaid amounts lying with companies were on account of dividends, matured deposits, debentures, among others, minister of state for corporate affairs, Nirmala Sitharaman, told the Lok Sabha, based on the data uploaded by companies on the ministry’s website.
 
She also said that “no instance of a company transferring unclaimed dividends to its balance sheet has come to the notice of the government.”

User

Retirement: EPFO Settles 1.1 Million Claims in July
The Employees’ Provident Fund Organisation (EPFO) has settled over 1.1 million claims, including transfer and withdrawal of provident fund, during July 2014. This has taken the cumulative total during this financial year to 4.3 million claims, the retirement fund body said a statement.
 
Of these claims, more than 68% were settled in less than 10 days. The EPFO also updated 92% of the annual accounts due for the year 2013-14. “It has happened for the first time in the last 30 years,” EPFO added.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)