Download Financial Express App for latest business news. Get live Share Market updates and latest India News and business news on Financial Express. There have been few changes in NPS schemes recently to help subscribers, with some prominent ones such as allowing complete withdrawal of NPS if the accumulated balance of one’s pension account is up to Rs 5 lakhs and the partial withdrawals can be done by NPS investors through self-declaration where the subscriber does not need to provide any supporting document. Recent changes in NPS schemes to help subscribers Hence, one may use NPS along with other investment options for retirement.” Having said that, Chetanwala says, “NPS has a lock-in up to the age of 60 and it only allows withdrawal 3 times throughout the tenure, this impact the liquidity of investor. This offers options for investors across different age groups to consider NPS. NPS give an individual the option of investing in equity, government bonds and corporate bonds where these funds are managed by fund managers at a very low cost. Industry experts say NPS can work as an additional instrument along with other investment options to build one’s retirement corpus. How to make NPS work as an investment vehicle? In case the bank account details are or other details are not correct, an alternate account number or additional supporting documents needs to be submitted for updating the records. The response of ‘Success’ or ‘Failure’ after the penny drop feature would be given by the service provider based on validation of the savings account number, as per CRA records. KCRA is the first CRA to implement the penny drop process in Partial Withdrawal and Bank details updating process.” He further adds, “Penny drop is a chargeable transaction and charges are recovered from the subscriber’s NPS Account. Subscriber has to provide the correct bank details to submit his/her withdrawal request.” Sreekanth Nadella, CEO, KFin Technologies says, “If the penny drop transaction fails for a subscriber, or there is a mismatch in name, he/she will not be allowed to capture the withdrawal request. If there is a success, the user will be allowed to complete his/her withdrawal request. Once the user captures the withdrawal request, KCRA will check the details instantly. KFintech CRA (KCRA) will check if the bank details provided by the NPS subscriber is active and valid and the name in a bank account is the same as in PRAN. In the ‘penny drop’ process, the bank account will be verified by making the ‘test transaction’ by dropping Re 1 in the subscriber’s registered bank account. There were issues like invalid bank account or failure in crediting the withdrawal amount because of incorrect bank details.” Harshad Chetanwala, Co-Founder, says, “Using the penny drop feature, delay in receiving NPS withdrawal at investors end will be avoided. Penny drop is used for verification of bank account, which will help investors as NPS authorities will first verify the bank account and then initiate the withdrawal request. If that describes you, mark your calendars for these drops and sign up this week for an extra-special experience.Should Senior Citizens close old SCSS account and invest in a new one for higher interest? In recent data, Resy discovered that nearly 1 in 3 diners admit to feeling overwhelmed when tasked with organizing a restaurant reservation. May 12, San Francisco: Rich Table and Penny Roma Tatiana – New York City May 11, Miami: Joe’s Stone Crab and Walrus Rodeo May 9, Washington, D.C.: Le Diplomate and Rose’s Luxury May 8, Los Angeles: Pijja Palace and Anajak Thai local time for 12 top restaurants around the country: (Formerly Known as Black Axe Mangal), Kurisu Omakase and STRAKER’S from May 15 through May 19.Įach day, Resy will drop reservations at 10 a.m. Next week, Resy Drop Week will go international offering diner spots at London’s hottest restaurants including Ikoyi, Rambutan, F.K.A.B.A.M. The Guardians have also lost 6 of their last 7 series and are 7-11 overall at home. The participating locations are in New York City, Los Angeles, Miami, Washington D.C., San Francisco and Chicago. Cleveland is now 4-7 in its last 11 games and 17-20 overall, heading into a weekend set with the Los Angeles Angels. This week Resy is launching a new initiative to help you dine at the buzziest places across the country.ĭuring Resy Drop Week, occurring from May 8 through May 12, Resy partnered with top restaurants to exclusively drop their reservations - and provide diners with one extra bonus as well (think, limited-edition restaurant merch or take-away gifts). If you have calendar notifications set to alert you to make those hard-to-get restaurant reservations or have tried every way under the sun to even score a seat at the bar at local hotspots, well, you’ll want to listen up.
0 Comments
Leave a Reply. |