Good news for EPFO pensioners! 73 lakh beneficiaries to soon receive pensions

"A proposal for setting up a central pension disbursal system will be placed in the EPFO's apex decision making body Central Board of Trustees (CBT) in a meeting scheduled on July 29 and 30," a source told PTI. (ALSO READ: Gold price today, July 10: Gold rates remain same, Check gold rate in Delhi, Patna, Lucknow, Kolkata, Kanpur, Kerala and other cities) 

The source further stated that the pension would be disbursed using a central database of over 138 regional offices in the country and this will facilitate crediting the benefit into bank accounts of over 73 lakh beneficiaries in one go. 

The company will showcase its electric SUV range next month

Mahindra has officially confirmed that it will pull the covers off the eXUV400 in India in September 2022. Additionally, the brand expects 20-30 per cent of its SUVs to go electric by 2027. 

The unveiling of the new Mahindra eXUV400 would be preceded by the carmaker’s vision for EVs which will be detailed by the brand during a presentation on 15 August, 2022. This is the same presentation where the company will showcase its electric SUV range for the first time. The new electric SUVs are a part of Mahindra’s plans to launch nine new cars by 2026.

Banking in India is becoming more consumer friendly by the day, as it has seen tremendous progress in terms of technology and new areas of payments have opened whereby which customers can transfer and receive money within seconds. However, with increasing progress a simultaneous rise in bank frauds have also been seen over the years despite the authorities’ efforts to provide maximum security to the customer.

Hackers come up everyday with a new idea to perform bank scams, and in a bid to warn its customers against that, the ICICI Bank has sent an email to them to ensure their safety. “We have always ensured your financial safety and that of your loved ones. In the same vein, we want to alert you of a new kind of fraud that is slowly becoming prevalent,” ICICI Bank said in an email few days back.

Private sector lender HDFC Bank on Wednesday raised its marginal costs of funds based lending rates (MCLR) for July by 20 basis points (bps) across all tenures. The lender’s one-year MCLR now stands at 8.05%, according to information on the bank’s website.

The lending rates are effective from July 7. The bank had announced steeper hikes in the MCLR in May and June as the Reserve Bank of India (RBI) raised the policy repo rate in the corresponding months. The bank had increased its cost-based lending rates by 25 bps in May and 35 bps in June. 

With this increase, the bank’s overnight rate stands at 7.70%, one-month rate at 7.75%, three-month rate at 7.80%, six-month rate at 7.90%, two-year rate at 8.15% and three-year rate at 8.25%.

In a setback for Tata Motors, the Bombay High Court on Tuesday upheld its disqualification by the BEST from a tender bid for operating electric buses for being “technically unresponsive”.

A division bench of Justices SV Gangapurwala and Madhav Jamdar dismissed the petition filed by Tata Motors challenging BEST’s May 6 decision disqualifying the latter from the tender for 1,400 electric buses on account of alleged deviation from Tender specifications.

The tender was subsequently awarded to Evey Trans Pvt Ltd.