The big news yesterday was about the PF fund. The central government is gearing up for major changes in the Employees’ Provident Fund Organization (EPFO). According to the draft of EPFO 3.0, it is currently being considered to provide employees with the facility to withdraw PF funds directly from ATMs.
At the same time, gold loans increased by 56% in the first seven months of the current financial year, i.e. 2024-25. Sectoral bank credit deployment data released by the RBI on Friday shows that gold loans worth Rs 1,54,282 crore were distributed till October 18, 2024.
Before the big news of tomorrow, the big events of the day to watch…
The stock market will remain closed today due to the Sunday public holiday. Sales reports from automakers will not change in gasoline and diesel prices.
Now read tomorrow’s big news…
1. ATM type card to withdraw PF: also considered to increase employee contribution by 12%; Preparing for changes in EPFO 3.0 from June 2025
The central government is gearing up for major changes in the Employees’ Provident Fund Organization (EPFO). According to sources, as per the draft of EPFO 3.0, it is currently being considered to allow employees to withdraw PF funds directly from ATMs.
2. Gold loan increased by 50% in 7 months: Loan of ₹1.54 crore was given till October in FY 2024-25, a total of ₹1.02 crore was granted in 2023-2024.
There has been a 56% increase in gold loans in the first seven months of the current financial year, i.e. 2024-25. Sectoral bank credit deployment data released by the RBI on Friday shows that gold loans worth Rs 1,54,282 crore were distributed till October 18, 2024.
3. There was a decline in gold and silver this week: Gold fell by Rs 1,047 to Rs 77,787, silver was sold at Rs 89,383 per kg.
This week, gold and silver prices fell. According to the India Bullion and Jewelers Association (IBJA) website, last Saturday, i.e. November 22, gold was at Rs 77,787, which has now fallen to Rs 76,740 per 10 grams (November 30). This means that its price has decreased by Rs 1,047 this week.
4. Property Share Investment Trust IPO opens on December 2: This is the first small and medium sized trust registered in India, with a minimum investment of ₹10 lakh.
The IPO of India’s first registered small and medium trust (SM-REIT), Property Share Investment Trust (PSIT), will begin on December 2. Investors will be able to bid on this issue until December 4. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on December 9.
5. NSE has made changes to the expiry of certain index derivative contracts: The monthly Bank Nifty contract will now expire on the last Thursday of every month.
After discontinuing the weekly contracts of Nifty Bank, FinNifty, Midcap Select and Next50, the National Stock Exchange (NSE) has revised the monthly expiry of these four F&O contracts. From January 1, 2025, these contracts will expire on the last Thursday.
Currently, Nifty Bank’s monthly and quarterly contracts expire on the last Wednesday of the month, while FinNifty expires on Tuesday. Midcap Select expires on Monday and Nifty Next50 expires on Friday.
6. Tucson got 5-star safety rating from Bharat NCAP: Hyundai’s first car was crash tested by the Indian agency and scored 41 points for child safety.
Hyundai Tucson received a 5-star safety rating in the Bharat New Car Assessment Program (BNCAP or Bharat NCAP) crash tests. It received a 5-star safety rating in the adult protection and child protection categories in BNCAP crash tests. In the crash test, the car scored 30.84 points out of 32 for adult safety and 41 points out of 49 for child safety.
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