After the online gaming bill is passed, fantasy gaming company Dream11 is preparing to shut down its real money gaming business. According to sources, the company has given this information to the employees. About 67% of Dream Sports’ annual income came from the real-money games business. However, the company has clarified that customers who have money in Dream11’s wallet will be able to withdraw it.

After the Online Gaming Bill-2025 was passed by the Parliament, real-money games operating across the country have been completely banned. These include fantasy sports, poker, rummy and betting-style apps. With this, the risk of money of game players getting stuck in the wallet of these apps has also increased. At the same time, online gaming platform Zoopee has decided to shut down its payment-based games. The company clarified that its free games will remain available as before.

Over 700 foreign online money gaming companies

Especially in these online gaming apps, which are being operated from abroad. Currently, more than 700 foreign online money gaming companies are active, which have added UPI as a payment option. In the last few days, there has been a huge surge in transactions in these companies through UPI, but after the strict provisions made in the new bill, these will be completely banned and payments will be stopped. It is believed that this may cause the money of the people using these apps to get stuck.

The chaos of withdrawing money

After the new bill came in, there has been a panic among gamers to withdraw money from their wallets from online money gaming portals and apps. It has become challenging for gaming companies to handle this situation. There is a possibility of a ‘bank run’ like situation arising in this, because not all companies have sufficient cash resources available. Bank run is a situation in which a large number of customers suddenly start withdrawing their money simultaneously, then the financial institution does not have enough cash left. This worsens the situation.

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Executive Director Information and Publicity of the Railway Ministry said that this trial was successful, however, there was a signal problem at some places, because the train passes through an area between Manmad and Igatpuri where there is no network. There is also a tunnel in this area, due to which there was a problem with the signal. Nevertheless, the results of this trial were positive.

Bhusaval DRM Iti Pandey said that this facility will be very beneficial for the passengers. Now people will be able to withdraw money easily even in a moving train if needed. Currently, the capacity of this ATM is being monitored. Bank of Maharashtra has provided the ATM for this test. It has been installed in the temporary pantry space at the rear of the coach. For security, the ATM has been covered with a shutter door.

Passengers will get relief

This new facility will benefit those passengers the most who get troubled due to lack of cash in the train. Especially, this facility will be very useful for those who travel from remote or rural areas. This step of Indian Railways is a big effort towards making the journey even easier and comfortable for the passengers.

Technical changes were made in the coach

Special preparations were made to install ATM in the train. Special technical changes were made in the ATM machine in Manmad Railway Workshop. Along with this, necessary changes were made in the coach for infrastructure and electric support. All these changes were necessary for the ATM to work smoothly despite the high speed of the train and the jolts during the journey.

ATMs will be installed in other trains too

According to a senior official of the Railway Ministry, work is underway to further improve this facility. If this trial is completely successful, ATMs can be installed in more trains in the future. They will be installed on priority in those trains that go to rural areas. This will not only provide convenience to the passengers, but will also bring a big change in the services of Indian Railways. This step is an important effort towards Digital India as well as meeting the needs of the passengers.

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Misappropriation of funds by employees

According to sources, RBI had found some discrepancies in the investigation of the accounts of New India Co-operative Bank. After this, the Chief Compliance Officer (CCO) of the bank contacted the Economic Offenses Wing of Mumbai Police on Thursday. This case is being told to be related to the misuse of money by some employees of the bank. Sources have not disclosed the total amount or the identity of the people involved in it. After the ban imposed by RBI, people are continuing to reach the bank. They are reaching to withdraw their money.

Depositors will not be able to withdraw money

On Thursday, RBI had imposed several restrictions on New India Co-operative Bank. This also includes withdrawal of money by depositors. The Reserve Bank’s instructions will remain in force for six months. RBI said, “In view of the current cash position of the bank, it has been instructed not to allow withdrawal of any amount from the depositor’s savings bank or current accounts or any other account.” Money can be withdrawn for the expenditure of some essential things like salary of bank employees, rent and electricity bills.

RBI imposed fine on two banks

Here, RBI has imposed a total fine of Rs 68.1 lakh on Nainital Bank and Ujjivan Small Finance Bank for violating the rules. RBI said in a statement that Nainital Bank Limited was fined Rs 61.40 lakh for not following some instructions on interest rates on loans and customer service in banks. Apart from this, a fine of Rs 6.70 lakh has been imposed on Ujjivan Small Finance Bank for not following some rules issued by RBI.

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ATM cards will be provided to EPFO ​​members

In case of any emergency, EPFO ​​members will be able to withdraw money up to a fixed limit. The Union Minister said that after the launch of EPFO ​​3.0, ATM cards will be provided to EPFO ​​members. He said that the first phase of upgrading the website and system under IT System 2.01 will be completed by the end of January 2025. After this, there will be no problem in withdrawing money from the PF account due to mistake in the name or any other reason. He claimed that by May-June the entire system of EPFO ​​will start working like a bank.

EPFO data is being centralized

Under IT System 2.01, all the data of EPFO ​​is being centralized. Talking to journalists, he said that currently PF account holders have to face many problems while withdrawing money. But after the system upgrade, problems like mistake in name, Aadhaar and bank account number not being updated and PF of old company not being transferred will not be faced. After the system upgrade is complete, many types of work including PF withdrawal will be done easily. After this, it will not take much time to catch the mistakes and correct them.

Employment increased in NDA government compared to UPA government

Countering the opposition’s allegation of rising unemployment in the country, Mandaviya claimed that employment has increased in NDA government compared to UPA government. He said that employment in the country has increased by 36 percent in the last 10 years to 64.33 crores in 2023-24. Whereas in 2014-15 it was 47.15 crores. He said that under the UPA government, employment had increased by about 7 percent between 2004 and 2014. He said that during the UPA government, only 2.9 crore additional jobs were created between 2004 and 2014, while under the Narendra Modi government, 17.19 crore jobs were added between 2014-24.

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Under this new scheme, EPFO ​​members can withdraw money directly from the ATM using a dedicated card after requesting their claim. The heirs of deceased EPFO ​​members i.e. the nominee will also be able to withdraw the claim money from the ATM.

How do members withdraw money now?

Currently, EPFO ​​members have to wait for seven to 10 days to receive their claim money, after which the amount is transferred to their respective bank accounts. After the new scheme is implemented, withdrawing PF money will be as easy as withdrawing money from an ATM. This process will become faster and simpler.

Dedicated Card for PF Claim

EPFO is considering providing services like the banking system to its more than seven crore members. Union Labor Secretary Sumita Dawra said that EPFO ​​can soon provide dedicated cards to its members. Through which they can withdraw their money claim amount through ATM.

Heirs will also get this service

With this new method, the heirs of the deceased EPFO ​​​​members will also be able to settle the claim and withdraw the amount using ATM. Under the Employee Deposit Linked Insurance (EDLI) scheme run by EPFO, the heirs of the deceased members are given an amount of up to a maximum of Rs 7 lakh.

EPF members will benefit

Dawra said that EPFO’s focus is currently on creating the necessary infrastructure for this new system. He said that more improvements will be seen as a result of hardware improvement in January 2025. The aim of this modernization campaign is to make EPFO’s systems similar to the efficient banking systems already existing in India. This move of EPFO ​​will not only make it easier to get claims. But, it will also improve transparency and efficiency.

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According to an ET report, the Pension Fund Regulatory and Development Authority (PFRDA) has proposed to provide the option of face-wise withdrawal of lump sum amount through the Systematic Lumpsum Withdrawal (SLW) facility. But you will get SLW facility only on the withdrawable lump sum maturity amount. According to the rules, after retirement or after the age of 60 years, you can withdraw 60 percent of the maturity amount from NPS in lump sum, while the remaining 40 percent amount has to be used to purchase an annuity plan.

PFRDA announced this through a circular on October 27, 2023. According to the proposed rule, through SLW you can withdraw up to 60% of your pension fund on monthly, quarterly, half-yearly or annually basis up to the age of 75 years. There has been no change in the rules regarding annuity.

What are the existing rules

As per the current rules, NPS subscribers can defer both lump sum withdrawal and annuity or any one component after retirement till the age of 75 years. Whereas 60 per cent of the maturity amount can be withdrawn either in lump sum or in multiple installments on an annual basis. But if withdrawal is done on annual basis then you will have to apply for it every year.

What is SLW?

This is similar to a systematic withdrawal plan like a mutual fund. Central record keeping agency CRA has started this facility for NPS subscribers. In this facility, the amount can be withdrawn systematically after retirement. Those who have taken an NPS plan have the option to withdraw a fixed amount systematically at regular intervals after retirement.

NPS subscribers will have the option to choose the systematic withdrawal option for 60 per cent of the lump sum. The remaining 40 percent amount will be used for annuity purchase. According to the Chairman of PFRDA, the annuity purchase rule will remain as it is.

Benefits of SLW

1. Benefit of cash flow at regular intervals.
2. Regular cash flow will increase monthly income.
3. Means of wealth creation. Returns will continue to be credited on the remaining deposited amount.
4. Tax benefits can be availed on all SLW withdrawals

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Unknowingly how many works are done from home. On the other hand, now you do not even have to go to the bank to withdraw money, because after the advent of ATMs, you can withdraw money from your bank account whenever you want.

Just for this you need an ATM card, but do you know that if you withdraw money from someone’s ATM card, then you can be jailed? Probably not, in which case it becomes important for you to know the rules first. So let’s know about this. You can learn about it in the next slides…

• Actually, what happens is that when a person dies, his family members withdraw money from his ATM. But here it becomes necessary to know that it is illegal to do so. Even if the nominee withdraws money from the bank account of the deceased person without informing the bank, it is also wrong. There is a provision of punishment if caught in this.

• If you withdraw money from the bank account of a deceased person, then you have to follow the rules of the bank. Under this, only after the death of the person, after transferring all his property in his name, his money can be withdrawn. You have to inform the bank about this.

• On the other hand, if the nominee is one then he/she can withdraw money from the deceased person’s bank account, but if there is more than one nominee, you have to show the consent letter to the bank and only after that you can withdraw money from the deceased person’s bank account.

• If you are the nominee of the deceased person’s bank account, then you have to fill a form. Along with this filled form, you have to provide the passbook of the deceased, TDR of the account, death certificate and your Aadhaar card and PAN card. After the completion of this process, you can withdraw the money.

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Now the need of debit or ATM card to withdraw money from ATM is over. The largest public sector bank State Bank of India (SBI) on Sunday revamped its digital banking application YONO (YONO) and also launched Interoperable Cardless Cash Withdrawal (ICCW) facilities.

In a statement, SBI Chairman Dinesh Khara said, “SBI is dedicated to introducing state-of-the-art digital banking solutions that empower every Indian with financial freedom and convenience, keeping in mind our customers’ expectations for a seamless and enjoyable digital experience. Keeping in mind the YONO app has been given a facelift.

Customers of other banks will get many facilities in YONO

Khara believes that this will fulfill the goal of making SBI’s YONO for Every Indian mission a reality. Through the enhanced YONO app, any bank customer will now have access to UPI features like Scan & Pay, Pay by Contact and Request Money in the new avatar of YONO.

Customers of any bank will get benefit.

Apart from this, under the interoperable cardless cash withdrawal facility, customers of SBI and other banks can withdraw cash from ATMs equipped with ICCW facility of any bank using ‘UPI QR Cash’ functionality.

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The Pension Fund Regulatory and Development Authority (PFRDA) is now going to provide systematic withdrawal option to the subscribers, eliminating the requirement of one-time withdrawal of 60 per cent of the total deposits. When the new rules come into force, the subscribers will be able to withdraw their money from time to time on monthly, quarterly, half-yearly or yearly basis till the age of 75 years.

Under the current rules, when the NPS subscriber turns 60, he can withdraw up to 60 percent of the lump sum retirement corpus. The remaining 40 percent of the corpus essentially goes into buying an annuity. Pension is received from this annuity. Subscriber can keep his entire amount in NPS account till the age of 75 years. He also gets the facility of phased withdrawal of 60 percent of his capital on an annual basis. For this one has to apply every year.

Will get more withdrawal options

According to media report, PFRDA Chairman Deepak Mohanty says that the pension fund regulator will no longer allow NPS subscribers to withdraw 60 per cent of the corpus in lump sum, instead of allowing subscribers till the age of 75 years. Is going to offer the facility of withdrawing money on monthly, quarterly, half-yearly or yearly basis.

The Systematic Lumpsum Withdrawal (SLW) option will greatly benefit the subscriber. In this way, from time to time, after partial withdrawal, the subscriber will get the return on the amount deposited.

Tier-I and Tier-II accounts will get this facility

Mohanty says that NPS subscribers can opt for systematic lumpsum withdrawal option for the next 15 years after retirement. On choosing the Systematic option, the NPS subscriber will continue to receive monthly, quarterly or half-yearly amounts till the age of 75 years. This facility will be provided for both Tier-I and Tier-II accounts. For Tier II account holders also lump sum withdrawal option can be started before turning 60 years.

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It has been made by the government on the lines of the Provident Fund Scheme, in which everyone from employed to housewives, children can invest. If you do business and want to collect retirement funds for your future, then PPF scheme is a great investment option for you.

You can invest even after maturity

Public Provident Fund ie PPF is one of the most liked schemes for investment. Its maturity period is 15 years. But it is not that after 15 years you have to withdraw your money and close the account. You can extend it further if you want. You can extend it indefinitely in 5-5 years. After 15 years, you can extend your account in two ways.

How to withdraw money from account after maturity?

You will have to inform the bank by giving an application that your account has matured. Along with this, you will have to submit an application form, original passbook and canceled cheque. After this, after verifying all the bank details, the amount deposited in your PPF account will be transferred to your savings account.

Interest rate of PPF

The current interest rate on PPF account is 7.1 percent per annum. A minimum of Rs 500 and a maximum of Rs 1.5 lakh can be deposited in PPF in a financial year. A person can open only one PPF account in his name.

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There is no provision for withdrawal before retirement in NPS, but under certain conditions the amount can be withdrawn from it. Pension Fund Regulatory and Development Authority has changed some new rules this year regarding partial withdrawal from NPS.

NPS account holders, employees of the Center, State and Central Autonomous Bodies, will have to apply for partial withdrawal from January 1, 2023, to the concerned nodal officer.

Online withdrawal is allowed for partial withdrawal. On the other hand, NPS members of private sector will continue to get online facility of partial withdrawal.

According to a circular issued by PFRDA, the time limit for withdrawal from NPS has been reduced from T4 to T2. This means that now instead of 4 days, the withdrawal process will be completed in just 2 days.

If you go to withdraw money from NPS account, then you can withdraw only three times. Also, only 25 percent of the total contribution can be withdrawn.

Withdrawal from NPS Partial withdrawal can be made for higher education of children, marriage of children, purchase and construction of flat, serious illness etc.

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This announcement has been made by the Joe Biden administration to keep public trust in the banking system strong and to keep the American economy going. The Joe Biden administration has said that depositors of Silicon Valley Bank will be able to access their money from Monday.

Resolver of FDI Bank appointed

An official statement issued by the US President Joe Biden administration said that after receiving the recommendation of the Federal Deposit Insurance Corporation (FDIC) and the central bank Federal Reserve and discussions with President Joe Biden, Treasury Secretary Janet Yellen on Sunday has approved the FDIC to take steps to fully protect the interests of depositors while simultaneously completing the resolution of the bank. California-based Silicon Valley Bank, the 16th largest bank in the US, was closed on Friday by the California Department of Financial Security and Innovation. It has appointed the FDIC as the bank’s conciliator.

Taxpayers will not have to pay for the loss

The bank ran into trouble when its customers, including venture capital firms and their subsidiaries, started withdrawing their deposits. In a joint statement issued by the US Ministry of Finance, Federal Reserve and FDIC, it was said that the depositors of the bank will be able to use their entire amount from Monday, March 13. Taxpayers will not have to bear the loss associated with the resolution of Silicon Valley Bank.

New York’s Signature Bank also closed

In the statement, a similar systematic risk exception has been announced for Signature Bank of New York. This bank was closed on Monday. Welcoming the steps taken to protect the interests of SVB depositors, the US India Strategic and Partnership Forum (USISPF) has said that a swift and orderly solution is necessary to maintain America’s leadership in the global startup and innovation ecosystem.

Many startup companies in trouble

According to a report in news agency Bhasha, USISPF chief Mukesh Aghi said that the authorities have taken steps. They know that failure to protect the value of deposits will land many startup companies in jeopardy. As a result, thousands of jobs will be at risk and millions of people around the world will be affected by it.

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Now big news is coming out regarding the Public Provident Fund scheme. In today’s time, PPF is considered one of the best investment options. In this, you get good returns along with hefty interest, but now if you want to withdraw money from your PPF account before maturity, then know what has changed in the rules-

You get the benefit of compounding interest

In the Public Provident Fund scheme, you get 7.1 percent return on the basis of compounding. Many times it happens that you invest money, but have to withdraw this money in emergency, so today we will tell you how you can withdraw money from the account before maturity.

Can I withdraw money from the account before maturity?

Many times it has been seen that if you withdraw money before the time, then you are asked the reason for withdrawing the money and still you are not given the full amount. Public Provident Fund also has its own rules, according to its rules, you can withdraw money after completion of 6 years and can also get it closed after completion of 5 years. If you want to withdraw some money before 6 years, then you must have a valid reason for withdrawing, only then you can withdraw your money.

When can I withdraw money?

You must have a valid reason for withdrawing money. Like you want to get treatment for any disease or you can withdraw money for the treatment of your family. Apart from this, you can also withdraw money for children’s education and children’s marriage.

Rules of PPF Withdrawal

1. For withdrawing money in PPF, you have to go to the official website of the bank.
2. Then you have to download Form C from the official website of the bank.
3. After filling the form, get it deposited in the bank.
4. And also show your PPF account to the bank.
5. After this the bank will give 50 percent of the money deposited in your account.

You can start with 500 rupees, let us tell you that in this scheme a person can start with 500 rupees. At the same time, in the financial year, you can invest a maximum of Rs 1.5 lakh in it. Not only this, in PPF you also get the benefit of loan and partial withdrawal facility after a certain period.

The post PPF Investor Big Alert! Government has made a big change in the rules of PPF withdrawal! check new rules first appeared on Rightsofemployees.com.

People consider it a good option in terms of retirement. In such a situation, NPS can prove to be a better option for emergency fund along with improving your retirement.

With this, if the NPS account holder needs money in an emergency, then he can withdraw money from the NPS account. There is a whole process for this too. Let us know all these important things related to the National Pension Scheme (NPS).

What is NPS?

In the National Pension System (NPS), the account holder gets the benefit of pension after retirement, in which both the employer and the employee contribute. With this, if the account holder needs an emergency fund before retirement, then you can withdraw 60% of the amount from the deposit on retirement. However, it is necessary to put 40% of this amount in pension.

How to withdraw money from NPS account?

You can withdraw funds in emergency from NPS account by following the steps given below.

• Log in to NPS Account- First log in to your NPS account. For this, search on Google by writing cra-nsdl. Now open the website of CRA NSDL. Here you are given two options to login. Subscribers and Nodel Officers are there. You have to select Subscribers.
• To login, the UserId will be your mobile number and the password you have created. If you have forgotten the ID password of NPS account, then you can also reset it.
• After logging in to the NPS account, you will now reach the home page of NSDL. Here you will see many options in the menu bar, now you have to select the option mentioned below. The sequence of option selection is Transect Online>Withdrawal>Partial Withdrawal Form Tier I.
• After this a notification will come, read it and click on OK. Now a new page will open, here PRAN number is given, click on submit there.
• 25% of the self-contribution amount can be withdrawn from the NPS account at one go.
• Your WITHDRAW AMOUNT will appear here. Check it and click on Submit.
• Before clicking on Confirm, do check your bank details. If the bank details are wrong then there will be problem in getting the money.
• Now you have been given a declaration for bank verification on next, in which Re 1 will be sent to your account. Check mark in the box and click on online bank a/c verification.
• After bank verification, you will get OTP. As soon as you click on Submit OTP. Your money request will be processed and your money will come into your account in 5 working days.

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Also, people have less knowledge about the tenure of this savings scheme. In such a situation, today we are going to tell many things regarding the tenure of PPF.

PPF Maturity Rule

PPF is such a scheme being run by the government, in which people can save, invest and also save tax. PPF is a long term investment with a tenure of 15 years but that does not mean that your money gets locked in for that long. The period of 15 years is from the day of opening of the account. Tenure of 15 years means that the maturity of the PPF account will be for 15 years from the day the PPF account is opened.

PPF Balance Check

However, if some fund is to be withdrawn from PPF before maturity, then that can also be done. Partial withdrawal is allowed from the PPF account after the sixth year. That’s why some investors use PPF as an emergency fund. PPF allows investors partial withdrawal in case of emergency. From the PPF account after the sixth year, an investor can withdraw up to 50% of the balance at the end of the fourth year or 50% of the account balance at the end of the financial year preceding the year of withdrawal.

PPF Amount On the other hand, if the account is extended with additional contribution, then the withdrawal limit can be 60% of the account balance at the beginning of the extended period. However, if the fund is to be withdrawn before maturity, it can be withdrawn only on emergency. PPF operates under a mandatory lock-in period of 15 years.

In such a situation, some funds can be withdrawn from the PPF account after the completion of the 5th financial year from the year in which the PPF account was opened. For example, if the PPF account was opened in February 2015, then withdrawal from PPF can be done from the financial year 2020-21. At the same time, partial withdrawal is allowed only once in every financial year.

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The Provident Fund scheme run by EPFO ​​is one of the biggest investment tools to build retirement corpus. Salaried employees have to deposit PF money from their salary, and in this along with the contribution of the employee, your money keeps on investing in this government scheme.

Technically this is your retirement fund, which you can completely withdraw after one age. However, with some conditions, you have the exemption that you can withdraw money from your PF account even earlier, but you should know whether you will have to pay tax on EPF withdrawal or not.

Let us know some such conditions where you have to pay tax on withdrawing money from EPF-

1. Withdraw money before 5 years

If you withdraw money from the PF account before the completion of five years of contribution, then you have to pay TDS on it. For this, you must be in service for 5 consecutive years. In this, both the new and old employers have a count regarding your tenure. If you transfer your EPF balance from the old employer to the new employer after completion of five years or more, then TDS is not deducted on your fund.

2. The job has been temporary in these five years

If you have been working on contract somewhere within five years, then your PF will not be credited, your employer does not have to contribute to your PF. But let’s say that after some time you become permanent in the job and your PF starts deducting. You leave this job after completing 5 years. And now if you have to transfer your EPF balance elsewhere, then it will be taxed because, out of the five years you have completed, you have spent some part of it in a temporary position.

3. Your fund is not recognized

A Provident Fund that has not received approval from the Commissioner of Income Tax is considered invalid for tax exemption. It may have been approved by the Provident Fund or any other institution, but you need approval from the Income Tax Commissioner to get the exemption on withdrawal after 5 years. If you are a member of URPF, then your withdrawal is taxed whether you have completed five years or not. 

Understand taxability from the chart

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If you also use ATM card, then this is important news for you. Recently, in a post going viral, it is being said that now if you withdraw money from ATM more than 4 times in a month, then you will have to pay extra charge.

You can withdraw money 5 times  , let us tell you that PIB has fact-checked the news of withdrawing money from ATM more than 4 times, in which the truth has been found. According to the information available on the Reserve Bank’s website, the bank allows five ATM transactions every month for free.

दावा: ATM से 4 से अधिक बार पैसे निकालने पर ₹173 काटे जाएंगे। #PIBFactCheck

▶️यह दावा फर्जी है।

▶️अपने बैंक के ATM से हर माह 5 मुफ्त ट्रैन्ज़ैक्शन किए जा सकते हैं।

▶️इसके बाद अधिकतम ₹21/ट्रांजैक्शन या कोई टैक्स होने पर वह अलग से देना होगा।

🔗https://t.co/nkl0LBZOHN pic.twitter.com/XhwH8trGYf

— PIB Fact Check (@PIBFactCheck) October 6, 2022

PIB’s tweet

PIB Fact Check has put a post in its official tweet, in which it is written that if you withdraw money more than 4 times from ATM, then you will have to pay Rs 150 as tax and Rs 23 as service charge.

Claim: ₹173 will be deducted for withdrawing money from ATM more than 4 times.

>> PIB has told that this claim is fake.

>> 5 free transactions can be done every month from your bank’s ATM.
>> After this, if there is a maximum of ₹ 21 / transaction or any tax, it will have to be paid separately.

How many transactions are free

If a customer uses ATMs of other banks, then three financial and non-financial transactions are free in a month in metro cities. Five transactions are free for non-metro cities. After the free transaction, a charge of Rs 20 will be charged. However, from January 1, 2022, a maximum of Rs 21 can be charged.

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The bank will be closed on September 22, let us tell you that the licenses of many banks and financial institutions have been canceled so far by the RBI. At the same time, now the Reserve Bank has decided to cancel the license of another bank. After this decision of RBI, this bank will be closed from 22 September i.e. from this month.

RBI canceled the license

RBI had decided to cancel the license of Pune-based Rupee Co-operative Bank Limited in August. Let us tell you that after the decision of RBI, the banking services of this bank will be closed from September 22, this is important news for all the customers whose money is in this bank.

Why was the license cancelled?

The Reserve Bank has told that the bank will close its business on 22 September. After this, customers will neither be able to deposit nor withdraw their money. Apart from this, you will not be able to do any kind of financial transaction. RBI said that the bank does not have sufficient capital and further earning prospects. For this reason the license of this bank is being canceled.

5 lakh will not comply with the provisions of Section 11(1) and Section 22(3)(d) of the Banking Regulation Act, 1949 as per the rules of the Reserve Bank. The bank has failed to comply with sections 22(3)(a), 22(3)(b), 22(3)(c), 22(3)(d) and 22(3)(e). Subject to the provisions of the DICGC Act, 1961, each of the depositors shall be entitled to receive a deposit insurance claim amount up to ₹ 5,00,000 (Rupees five lakhs).

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The bank will be closed on September 22, let us tell you that the licenses of many banks and financial institutions have been canceled so far by the RBI. At the same time, now the Reserve Bank has decided to cancel the license of another bank. After this decision of RBI, this bank will be closed from 22 September i.e. from this month.

RBI canceled the license

RBI had decided to cancel the license of Pune-based Rupee Co-operative Bank Limited in August. Let us tell you that after the decision of RBI, the banking services of this bank will be closed from September 22, this is important news for all the customers whose money is in this bank.

Why was the license cancelled?

The Reserve Bank has told that the bank will close its business on 22 September. After this, customers will neither be able to deposit nor withdraw their money. Apart from this, you will not be able to do any kind of financial transaction. RBI said that the bank does not have sufficient capital and further earning prospects. For this reason the license of this bank is being canceled.

5 lakh will not comply with the provisions of Section 11(1) and Section 22(3)(d) of the Banking Regulation Act, 1949 as per the rules of the Reserve Bank. The bank has failed to comply with sections 22(3)(a), 22(3)(b), 22(3)(c), 22(3)(d) and 22(3)(e). Subject to the provisions of the DICGC Act, 1961, each of the depositors shall be entitled to receive a deposit insurance claim amount up to ₹ 5,00,000 (Rupees five lakhs).

The post Big Alert ! This bank will be closed from September 22, customers will not be able to withdraw money, check details Quickly first appeared on Rightsofemployees.com.

Know how to get TDS deducted back

If TDS has been deducted more from your salary, then it can be withdrawn in two ways. First, mention this in your income tax return. After this the Income Tax Department will check it and refund your excess deposit. On the other hand, under the second method, you will have to fill Form 15G to withdraw TDS. Form 15G has to be filled and submitted to the bank. In this way your deducted TDS will come back to your account.

How to Check Refund Status

For TDS refund to come quickly, it is important that you file your ITR on time. The sooner you file the return. As soon as the refund process will start. To check Income Tax Refund Status, first you have to visit the official website www.incometax.gov.in. After that enter your User ID and Password. In the page that will open, you will see the option of e-filing. In this select Income Tax Return. After that you click on View File Returns. Your latest ITR details will be displayed on the computer screen.

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