Retirement fund body EPFO may bring 500 private PF trusts within its fold whose EPF accumulations are around Rs. 1 crore each, or have up to 20 members, for offering better services to those subscribers. Besides, this will improve monitoring of over 1,000 such trusts which have large subscriber base and manage huge EPF accumulations.
The Labour Ministry is in the process of amending Employees' Provident Fund Scheme 1952, so that large private PF trusts having accumulations can carry on the management...
Members of the Information Technology Employees' Union (ITEU) have sought the intervention of Karnataka's IT Minister Priyank Kharge to prevent illegal layoffs by software firms in the state."We urge Kharge to intervene and prevent arbitrary and illegal retrenchment of thousands of employees by software companies in the state," ITEU President A.C. Kumara Swamy told reporters here.Swamy alleged that software major Wipro Ltd was set to sack about 6,000 employees by June 30 and many more IT firms were...
An Australian engineer has come up with a high-tech solution to combat the rampant deforestation the globe is facing; by developing drones that can plant trees at a rate of nearly 1 billion trees per year!
Engineer Susan Graham revealed that she has developed a drone that is capable of first scanning the land looking for ideal places to grow trees, and then second launching seeds directly into the soil. The drones would be able to access places that would be difficult to reach manually and plant...
Indian cricketer Virat Kohli has now become the most followed Indian celebrity on Facebook taking the No.1 spot from Actor-producer Salman Khan.
On Sunday morning, Virat's official Facebook page had around 6,00,000 more followers than Salman Khan thus making him the king of social media with the maximum likes on his social handle too.
Captain of Indian cricket team in all the three formats, Virat has earned all the love from his countrymen in the last few years when he single-handedly won...
The Sahayak system of the Indian Army, in place since the colonial era which has fresh jawans attached to senior officers, has faced severe backlash as many former Sahayaks have claimed that they are treated as servants by the respective officers they have been attached to.
According to reports, the Indian Army is considering to replace Sahayaks in peace stations with civilian staff and retain the Sahayak or buddy system in key bases and field areas where the soldiers will have specified military...
Karisma Kapoor has a charm so unmissable that even after she left acting, her fan following has only increased. She is turning 43 on Sunday and looks nothing less that gorgeous. In fact, Lolo happens to be in the best phase of her life. She is doing events, brand endorsements, promoting good causes, staying fit and going on some grand vacations!
Karisma always has her fashion game on point and leaves no choice for her fans to fall in love with the lady at 43! She has been recently holidaying in...
Now, Ola Cabs Make It Easier To Withdraw Cash On The Go
NEWS WORLD INDIA | 0
November 28 , 2016 , 13:36 IST
[caption id="attachment_235858" align="aligncenter" width="700"] Now, Ola Cabs Make It Easier To Withdraw Cash On The Go[/caption]
After petrol pumps, cash can now be withdrawn by swiping debit cards at select Ola cabs as Indias largest ride-hailing service partners with lenders like State Bank of India (SBI) and Punjab National Bank to ease cash crunch.
With banks and ATMs not being able to cope with the rush for access to lower denomination or new currency after old Rs 500 and 1,000 notes were banned, cash dispensing through swipe of debit cards at POS machines was introduced at around 3,700 petrol pumps. The same is being replicated by Ola on a test basis in its cabs in Kolkata and Hyderabad where taxis with a bank officer and POS machine are parked at different locations and dispense cash of Rs 2,000 per card.
ALSO READ: Ola, Uber Drivers Call for Strike; Over 12 Thousand Cabs To Go Off-Road In Guwahati
Ola Chief Operating Officer Pranay Jivrajka said that the initial response has been tremendous and the company was exploring with banks to expand this service to other cities with cash being dispensed on the go rather than current experiment of cars being parked at a particular busy point. In Kolkata, Ola has partnered with Punjab National Bank (PNB), while for Hyderabad, it has collaborated with SBI and Andhra Bank.
"The week-long activity, that is already servicing thousands of citizens, will continue till end of the month. It (cabs) will visit areas like Chandni Chowk Metro Station, Esplanade Metro, Barabazaar, Salt Lake, Exide and Rashbehari (in Kolkata)," he said. Cars carrying POS machine are servicing citizens in popular areas in Hyderabad like KBR Park, JNTU, Inorbit Mall over the weekend, he added. "We are also looking at flagging off the programme in other key cities, including Delhi. The banks are providing on-ground executives to enable people withdraw cash seamlessly," he said.
ALSO READ: Demonetisation: Now You Can Withdraw Cash Up-To Rs 2000 At Petrol Pumps
Following the government’s move to scrap old Rs 500 and Rs 1,000 notes earlier this month, there have been serpentine queues at banks and ATMs as people lined up to withdraw valid currency. There have been demands for setting up more mobile ATMs across the country and also refilling them more often as there seems to be a crunch of liquid cash given the long queues. Ola, which has its mobile wallet service, claimed it has seen 1500 per cent growth in recharge of Ola Money.
"The number of trips paid in cash has certainly gone down. More people are now paying using digital platforms like Ola Money and credit/debit cards," he said.