Citizens' Issues
Life limps back to normalcy in flood-hit Chennai
Life in flood-hit Chennai was slowly limping back to normalcy on Monday, with shops opening up and a massive clean up initiated in areas where the water levels have receded.
 
the living conditions here were still not okay. Resumption of auto-rickshaw services and public transport made people's life easier after being completely crippled for the past five days. 
 
A major cleaning operation was launched in the areas where the water levels have receded to prevent an epidemic outbreak. 
 
While rains have stopped in Chennai, there were showers in some part of Tamil Nadu, including Thiruvarur, Nagapattinam and Cuddalore districts. The Met office said a new low pressure area was formed over the Bay of Bengal. 
 
Schools and colleges are yet to open in Chennai.
 
The Southern Railway said train services have resumed from Chennai. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
 

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Retirement: PF Withdrawal Claims without Employers’ Attestation
The Employees’ Provident Fund Organisation (EPFO) has allowed subscribers to file their applications directly, without employers’ attestation. This will help online settlement of PF withdrawal claims. 
 
Currently, subscribers submit their provident fund withdrawal requests manually through their employers for which attestation of forms is mandatory. 
The new system will obviate this need and be available to all subscribers whose Universal Account Number (UAN) (or portable PF) is activated and seeded with the KYC (know your customer) details like bank account and Aadhaar number.
 
“The facility of filing withdrawal claims directly to EPFO will help us eventually in launching the facility for settling such applications online. We hope that now we would be able to launch the online PF withdrawal facility within this fiscal,” EPFO’s central provident fund commissioner KK Jalan told news agencies.
 

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Gold: Continued Outflow from Gold ETFs

Gold ETFs (exchange traded funds) witnessed a net outflow of Rs489 crore in the first seven months (April-October) of 2015-16, down from an outflow of Rs1,016 crore in the same period of fiscal 2014-15. These ETFs also witnessed outflows in the last two fiscals—Rs1,475 crore in 2014-15 and Rs2,293 crore in 2013-14. Taking advantage of the rising gold prices, mutual funds had launched 14 gold-based schemes, since 2006-07. But gold, which had been delivering tremendous year-on-year (y-o-y) returns since 2001, fell 22.6% (absolute) from its peak of Rs32,943/10gm on 29 August 2013 to Rs25,488/10gm on 20 November 2015. Since 2011, when interest in gold was at its peak, Moneylife has consistently warned investors not to consider gold as an investment product.

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