Will “Liberation Day” Tariffs Upset USA’s Trade Partners? Know More Here!

The USA’s trade partners have important economic ties with the country. The United States is one of the world’s biggest economies, and its trade relationships are crucial for its economic growth. The U.S. exports various goods to friendly countries, with its top trade partners being Mexico, Canada, China, France, and several other European countries.

In 2024, Canada and Mexico emerged as the U.S.’s largest export destinations. They paid US$348.41 billion and US$334.04 billion, respectively, for American imports. Here is a comprehensive list of all the crucial trading partners of the United States:

Country Value of Imports
China $143.55B
Netherlands $89.64B
United Kingdom $79.89B
Japan $79.72B
Germany $75.38B
South Korea $65.54B
Brazil $49.67B
Singapore $46.02B
France $44.39B
India $41.75B
Australia $34.58B
Belgium $34.18B
Italy $32.40B
Hong Kong $27.87B
Malaysia $27.70B
United Arab Emirates $26.97B

New Tariffs Can Threaten USA’s Trade Partners

Under the “Liberation Day” initiative, the new American government aims to introduce tariffs of up to 25% on international imports. This has put its ties with Mexico, Canada, and other trade partners under heavy scrutiny..Let us understand how this will impact its trading partners.

Potential Impact Of Liberation Day on Canada and Mexico

The imposition of tariffs on the USA’s trade partners like Mexico and Canada could be extremely damanging. These nations rely on the United States for the smooth flow of goods, jobs, and investments. They have deep economic relationship with the U.S., which could be affected by the Liberation Day.

Tariffs will raise the cost of American exports to these countries. This will lead to higher prices for domestic consumers, thereby compelling the governments to introduce retaliatory tariffs. As per news reports, Canada has cautioned against such an approach, while Mexico is measuring its own responses.

Impact on China

In sectors like agriculture and technology, the Liberation Day could enhance tensions with China. This could further strain their existing ties.

Impact on Europe

The Liberation Day could trigger a trade war, which will have a ripple effect on several European countries. This includes Germany, the Netherlands, and the United Kingdom..

Conclusion

Overall, the “Liberation Day” tariffs could raise the cost of goods in the U.S. and abroad, strain diplomatic relations, and harm businesses reliant on international trade. The economic fallout might be felt across industries, from manufacturing to agriculture, making these tariffs a critical issue for global economic stability.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

 

Key Social Security Administration (SSA) Changes from April 2025: How to Prepare for New Changes?

Several important changes to Social Security will begin on April 14, 2025. This will impact millions of beneficiaries and new applicants. The updates are designed to enhance security and ensure fair distribution of benefits. These changes affect identity verification processes, payments for certain retirees, and more.

What Is SSA Changing In April 2025?

Starting April 14, 2025, the Social Security Administration (SSA) will implement stricter rules. One major update is the requirement for in-person identity verification for certain services if individuals cannot verify their identity online. This change will affect people applying for Retirement, Survivors, or Auxiliary benefits who can’t use a ‘my Social Security’ account.

However, applications for Social Security Disability Insurance (SSDI), Medicare, and Supplemental Security Income (SSI) will still be processed by phone and remain exempt from this rule.

Another significant change comes from the Social Security Fairness Act, signed into law on January 5, 2025. The Act eliminates the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), which previously reduced benefits for over 3.2 million public sector workers, including teachers and firefighters who had non-covered pensions.

Additionally, retroactive payments averaging ₹6,710 have already been issued to over 1.1 million beneficiaries, with increased monthly payments starting in April for March benefits.

Who is Affected By SSA’s New Changes?

The new changes may affect those who have not set up a ‘my Social Security’ account or updated their contact information. Unverified accounts could be flagged, especially with the new in-person verification requirements. If you expect higher payments due to the Social Security Fairness Act, failure to confirm your direct deposit details could delay your funds.

Last-Minute Steps to Take

1. Create or Update Your ‘My Social Security’ Account

You can visit the official website of SSA to set up or log into your account. This free tool helps you verify your identity online, update direct deposit information, and track benefit changes. Ensure you complete this before April 14 to avoid delays.

2. Gather Identification Documents

If you cannot verify your identity online, you’ll need to visit a local SSA office after April 14. Bring original documents like your Social Security card, driver’s license, or passport. You can google search the nearest office and schedule an appointment.

3. Verify Your Direct Deposit Details

Make sure your bank information is up to date in your ‘my Social Security’ account or in person at an SSA office before April 15. The SSA will soon flag discrepancies using its Account Verification Service.

Conclusion

The upcoming Social Security changes in April 2025 require beneficiaries to verify their identity and update their information to avoid disruptions. Take these last-minute steps to ensure smooth processing.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.

Companies with ₹1 Lakh Crore Market Cap Surge 40x in 20 Years: NSE

The number of companies with a market capitalisation of ₹1 lakh crore has increased over 40 times in the last 2 decades. This growth was driven by strong economic fundamentals, financial reforms, and increased investor participation. NSE’s market share rose from 18% to over 60% due to this surge, as per news reports.

Historical Growth of ₹1 Lakh Crore Companies

In FY04, only 1 company had a market cap of ₹1 lakh crore. By FY10, the number increased to 14, with a combined valuation of ₹21.2 lakh crore. The 2008 global financial crisis temporarily affected the market, but recovery was swift. By FY15, 22 companies had a market cap of ₹1 lakh crore, totaling ₹43.8 lakh crore.

Rise Of ₹1 Lakh Crore Companies

Amid Economic Changes

In FY19, 30 companies reached the ₹1 lakh crore threshold, with a total market cap of ₹73 lakh crore. By FY24, the number surged to 81 companies, with a combined valuation of ₹234 lakh crore. This accounted for over 60% of NSE’s total market cap, reflecting a post-pandemic recovery.

Top 10 Companies’ Market Cap Surge

The market cap of the top 10 companies grew 28 times in the last 2 decades. In FY04, the combined market cap of the top 10 was ₹3 lakh crore. By FY14, it increased to ₹22 lakh crore, and by FY24, it surged to ₹89 lakh crore. This was driven by economic growth, market reforms, and investor confidence.

RIL Leads in Market Cap Growth

Reliance Industries (RIL) retained its leadership from FY04 to FY24. RIL’s market cap increased by over 26 times, from ₹75,132 crore to ₹20 lakh crore. This resulted in an annualised return of over 17%, surpassing the NIFTY50 Index’s return of 13.5%. By FY24, the top 10 companies accounted for around 23% of NSE’s total market cap.

Changes in the Top 10 List

The composition of the top 10 companies changed significantly over 20 years. 5 companies in FY04 did not make it to the FY14 list, though 2 re-entered in FY24. TCS, ONGC, Coal India, HDFC, and HDFC Bank entered the top 10 by FY14. However, by FY24, ONGC and Coal India were no longer part of the ₹1 lakh crore club.

Profitability and Asset Expansion

The profitability of the top 10 companies grew substantially. Net profit increased from ₹20,643 crore in FY04 to ₹3.6 lakh crore in FY24. Revenue grew at a CAGR of 15.5%, rising from ₹1.8 lakh crore in FY04 to ₹32 lakh crore in FY24. Total assets expanded from ₹8.2 lakh crore in FY04 to ₹162 lakh crore in FY24.

Conclusion

The surge in companies with a ₹1 lakh crore market cap reflects India’s robust economic growth and reforms. The top companies have grown in profitability, revenue, and market capitalisation, driving India’s stock market to new heights.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Coal India Share Price In Focus As It Implements Price Hike for Coal in 2025

The Coal India share price will remain in focus on Wednesday. This follows its announcement of a price hike for coal, effective from April 16, 2025. Non-coking coal will see an increase from ₹10 to ₹20 per ton. Meanwhile, the price for coking coal will rise by ₹10 per ton. This price change will apply to both regulated and non-regulated sectors. The CIL Board approved the price hike at a meeting held recently to boost workers’ pension funds.

Coal Imports Data

India’s coal imports showed a slight increase in January 2025. Coal imports rose by 1.23%, totaling 21.37 million tonnes (MT). This compares to 21.11 MT in January 2024. Based on news reports, the total coal imports for the April-January period of FY25 stood at 222.67 MT.

Composition of Coal Imports

Non-coking coal imports during the period were 141.18 MT. This is a decrease from 146.86 MT in the same period last year. Coking coal imports also declined, reaching 45.88 MT. Last year, imports of coking coal stood at 47.32 MT.

January 2025 Imports Breakdown

In January 2025, non-coking coal imports were 12.33 MT. This is lower than the 13.40 MT imported in January 2024. Coking coal imports, however, increased slightly to 5.23 MT.
This is up from 4.50 MT in January 2024.

Domestic Coal Production

India’s coal production increased by 5.88% during April-January FY25. The country produced 830.66 MT of coal, compared to 784.51 MT last year. This increase reflects a steady rise in domestic coal output.

About Coal India

Coal India Limited (CIL), established in November 1975, is the world’s largest coal producer and one of the largest corporate employers with 272,445 employees. Operating 352 mines across 84 mining areas in India, CIL has 7 subsidiaries and several other establishments. A Maharatna company, it also manages coal washeries, training institutes, and a foreign subsidiary in Mozambique, enhancing its global presence.

Conclusion

Coal India’s price hike is a significant move that impacts both domestic and international markets. News reports suggest that Coal India produced nearly 781.1 million tonnes (MT) of coal in 2024-25. This is roughly 7% less than FY 25’s target of 838 MT. At 9.45 AM, the Coal India share price was down 0.80% and was trading at ₹394.45.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.

Making Smart Use of Your Salary Hike in Financial Year FY26

A new financial year has begun, and companies across various sectors will be implementing salary hikes to recognise employee contributions. While you celebrate this personal financial boost, you must also plan your finances strategically. In this article, we highlight how you can manage your salary hike effectively for a secure financial future

Utilising Your Salary Hike In Financial Year FY26

To maximise the benefits of your salary hike, consider a balanced approach. First, dedicate a portion to savings and investments. This will build long-term wealth for you. Next, analyse your debts and pay them down, either partially or fully, to become debt-free faster. Finally, you can take a long-awaited trip or purchase a new smartphone to give yourself a small treat!

  • Increase Your Investments

The amount you invest depends on your financial goals and existing commitments. Save and invest 20% to 30% of your increment, focusing on long-term objectives such as retirement planning, wealth accumulation, and education funding. Consulting a financial advisor can help you determine an appropriate allocation strategy based on your unique circumstances.

SIPs, or Systematic Investment Plans, offer a straightforward way to invest in mutual funds. You choose a regular investment amount—weekly, monthly, or quarterly—making it adaptable to your budget. This method helps you grow your wealth gradually, smoothing out market fluctuations.

  • Reduce Your Debt in Financial Year FY26

You can utilise a portion of your salary hike (10%-15%) to pay off a larger chunk of your home loan or student debt. This will offer you a tangible sense of financial progress and achievement. This will also serve as a one-time boost to your debt reduction strategy.

You can also perform a cost-benefit analysis to check the feasibility of debt restructuring. Talk to your lender and see if it is possible to increase the size of your monthly EMIs. This will help you in closing your loan faster.

  • Revisit Your Priorities 

To safeguard yourself against unforeseen events, build an emergency fund for yourself. Ideally, this fund should be able to sustain you for 3-6 months if you lose your paycheck. Moreover, you can consult your health insurance provider to avail of new top-up plans. This includes coverage for critical illnesses and miscellaneous medical expenses.

With the remaining amount, you can buy yourself a great vacation, a new smartphone, or a new salon membership, whatever you like!

 

Conclusion

Salary hikes offer a chance to achieve long-term goals when used wisely through prudent decisions. To gain maximum benefits from salary hikes, strategic financial planning is necessary. This can help you in fulfilling all your aspirations eventually!

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Top Gainers and Losers on April 1, 2025: Vodafone Idea and Kanani Industries Led Gainers

On April 1, 2025, the BSE Sensex was down 1.80% at 76,024.51, while the Nifty 50 was down 1.5% at 23,165.70. The top gainers and losers for the day are:

Top Gainers of the Day

Symbol Open High Low LTP %chng
IDEA 7.48 8.56 7.48 8.17 20.15
KANANIIND 1.64 1.98 1.62 1.98 20
HESTERBIO 1,284.00 1,505.40 1,268.00 1,505.40 20
RADIANTCMS 50.6 61.29 50.6 61.29 19.99
ORCHASP 2.18 2.61 2.15 2.61 19.72

Vodafone Idea Limited (IDEA)

IDEA opened at ₹7.48 and surged by 20.15% to close at ₹8.17.

Kanani Industries Limited (KANANIIND)

KANANIIND opened at ₹1.64 and rose by 20% to close at ₹1.98.

Hester Biosciences Limited (HESTERBIO)

HESTERBIO opened at ₹1,284.00 and jumped by 20% to close at ₹1,505.40.

Radiant Cash Management Services Limited (RADIANTCMS)

RADIANTCMS opened at ₹50.6 and increased by 19.99% to close at ₹61.29.

Orchasp Limited (ORCHASP)

ORCHASP opened at ₹2.18 and climbed by 19.72% to close at ₹2.61.

 

Top Losers of the Day

Symbol Open High Low LTP %chng
PSB 37.37 37.37 34.86 34.86 -20.01
UCOBANK 34.27 34.27 30.85 31.2 -12.61
ONESOURCE 1,730.00 1,763.70 1,612.05 1,612.20 -7.99
VAISHALI 12.6 12.6 11.53 11.6 -7.79
DRCSYSTEMS 29.81 29.81 27.43 27.67 -7.77

Punjab & Sind Bank (PSB)

PSB opened at ₹37.37 and fell by 20.01% to close at ₹34.86.

UCO Bank (UCOBANK)

UCOBANK opened at ₹34.27 and decreased by 12.61% to close at ₹31.2.

Onesource Specialty Pharma Limited (ONESOURCE)

ONESOURCE opened at ₹1,730.00 and declined by 7.99% to close at ₹1,612.20.

Vaishali Pharma Limited (VAISHALI)

VAISHALI opened at ₹12.6 and dropped by 7.79% to close at ₹11.6.

DRC Systems India Limited (DRCSYSTEMS)

DRCSYSTEMS opened at ₹29.81 and decreased by 7.77% to close at ₹27.67.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.

Investment Scams: Spotting and Stopping Them

Investment scams are becoming increasingly common. In February 2025, Rajasthan police arrested 7 accused people for an ₹85 lakh fraud. The accused lured a woman with high stock market returns. The Hyderabad cybercrime police arrested a man for similar scams.

Gurgaon Case: ₹85 Lakh Fraud

A Gurgaon resident reported an ₹85 lakh loss on February 27. She was promised high stock market returns. The accused directed her to transfer money to multiple bank accounts. A virtual account showed consistent profits. When she tried to withdraw, her account was blocked. Communication ceased. A case was filed under BNS section 318 (4).

6 bank account holders were identified and arrested. They resided in Alwar, Rajasthan. They admitted to selling their bank accounts to Shailendra alias Senti for ₹20,000 each. Shailendra was arrested. All accused were sent to judicial remand. ₹20 lakh was frozen in various bank accounts. The investigation is still underway.

Hyderabad Case: ₹20 Lakh Fraud

Hyderabad cybercrime police arrested Himanshu Swami from Gurgaon. He supplied bank accounts to investment fraud rackets. This followed a ₹20 lakh fraud reported in March 2024. The complainant was a 49-year-old civil engineer. Himanshu supplied accounts to cyber fraudsters. He was involved in 43 fraud cases across India. He was sent to judicial remand.

Red Flags to Watch For an Investment Scam

* Scammers often use urgency to pressure victims.

* They offer unrealistic promises of high returns.

* Unsolicited approaches are common.

* Information provided is often insufficient or confusing.

How to Stay Safe From Investment Scams

  1. Research thoroughly before investing.
  2. Verify company registration and track records.
  3. Check regulatory body registration.
  4. Look for phrases like “[company name] + scam” online.
  5. Visit the company’s official website.
  6. Ask for all offers in writing.
  7. Validate the information.
  8. Ask detailed questions about the investment.

Avoid falling for urgency or pressure tactics. Seek advice from a financial advisor. Secure your data and devices. Use advanced antivirus software like Quick Heal Total Security. It offers safe online payments, ransomware protection, and phishing protection.

What to Do If Scammed?

  1. Document all scam details.
  2. File a police complaint.
  3. Report the incident to regulatory bodies.

Conclusion

Investment scams are prevalent due to rising digital penetration and lack of consumer awareness. Thorough research and skepticism can safeguard you against any financial losses. It is important for you to stay vigilant, use a reliable security software, and report any scams promptly.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

 

India’s Mineral Production Sees Strong Growth

India’s key mineral production continues strong growth in FY 2024-25 (April-February). This follows record production levels in FY 2023-24. Iron ore accounts for 70% of total MCDR mineral production by value. Iron ore production was 274 million metric tonnes (MMT) in FY 2023-24.

Iron Ore and Related Mineral Production

Iron ore production increased to 263 MMT in FY 2024-25 (April-February). It was 252 MMT in the same period of FY 2023-24. This shows a 4.4% growth.

* Manganese ore production rose by 12.8%. It reached 3.4 MMT in FY 2024-25 (April-February). It was 3.0 MMT in the corresponding period of the previous year.

* Bauxite production increased by 3.6%. It reached 22.7 MMT in FY 2024-25 (April-February). It was 21.9 MMT in the same period of FY 2023-24.

* Lead Concentrate production rose by 3.5%. It reached 352 THT in FY 2024-25 (April-February). It was 340 THT in the same period of FY 2023-24.

Non-Ferrous Metal Production

Primary aluminium production grew by 0.9% in FY 2024-25 (April-February). It increased to 38.36 lakh tonnes (LT). It was 38.00 LT in the corresponding period last year.

Refined copper production also grew by 7.1%. It increased from 4.64 LT to 4.97 LT.

India’s Global Mineral Production Standing

India is the second-largest aluminium producer globally. Moreover, it is among the world’s top 10 refined copper producers and iron ore producers.

Continued iron ore production growth reflects robust demand from the steel user industry. Aluminium and copper growth also indicate strong economic activity in sectors like energy, infrastructure, construction, automotive, and machinery.

India’s mineral sector shows consistent growth, reflecting strong industrial demand. Iron ore, aluminium, and copper production increases signal robust economic activity, supporting key sectors like infrastructure and automotive.

Conclusion

India’s mineral industry is witnessing steady growth. This is being driven by strong industrial demand. The rising production of key minerals like aluminum, iron ore, and copper indicates a thriving economy. This, in turn, is crucial for driving growth in sectors like infrastructure and automotive.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Prestige Estates Share Price in Focus: ₹1,625 Cr Investment in Hospitality Arm

Prestige Estates share price is in focus on Tuesday. This followed its announcement of investing up to ₹1,625.04 crore in Prestige Hospitality Ventures Ltd (PHVL) via a rights issue. PHVL is its wholly-owned subsidiary. This will bolster PHVL’s hospitality business.

PHVL’s Financials and Transaction Details

  • PHVL’s turnover was ₹4,161 crore for FY 2024.
  • PHVL was incorporated in 2017.
  • This transaction is a related-party deal.
  • It will be conducted at arm’s length.
  • Prestige Estates’ promoters have no financial stake.
  • The rights issue is set for completion by March 31, 2025.
  • Shares will be purchased in cash.
  • PHVL’s ownership structure will remain unchanged.
  • Prestige Estates will retain full ownership.

Prestige Estates Financial Performance

Prestige Estates faced financial headwinds. The company’s consolidated net profit fell by 84.8% in Q3 FY 2024-25. Revenue declined by 7.9% year-on-year to ₹1,654.50 crore from ₹1,795.80 crore a year ago. However, EBITDA rose by 7% to ₹590.10 crore. Besides, margins improved to 35.7% from 30.7%.

Prestige Estates Share Price Performance

Prestige Estates’ share price closed at ₹1,180 on Friday. This is a 2.16% drop from the previous close on the NSE. The stock has fallen by 36% in the last six months. It has dropped by about 28% since the start of the year. At 2.40 PM, it was trading at ₹1,138.75.

Conclusion

Prestige Estates is investing heavily in its hospitality subsidiary despite recent financial setbacks. As per news reports, the investment will be completed by March 2025. This move aims to strengthen its hospitality business. In the future, the company is expected to maintain full ownership of PHVL.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

EPFO To Raise Auto-Settlement Cap To ₹5 Lakh

As per news reports, the EPFO will introduce a new system for PF withdrawals via the Unified Payments Interface (UPI). Labour and Employment Secretary Sumita Dawra approved NPCI’s recommendation. Members may withdraw PF through UPI and ATM by May or June. This initiative by EPFO aims to simplify and expedite PF withdrawals, enhancing convenience for its members.

EPFO Automation Gains Traction

The auto mode of claim settlement was first introduced in April 2020. This was initially for advance illness claims. In May 2024, the limit increased from ₹50,000 to ₹1 lakh.

EPFO has expanded auto mode to education, marriage, and housing. Previously, only illness/hospitalisation withdrawals were allowed.

Auto-mode claims are processed within 3 days. 95% of claims are now automated. The EPFO achieved 2.16 crore auto-claim settlements in FY 2024-25. This is up from 89.52 lakh in FY 2023-24. The claim rejection ratio has reduced from 50% to 30%.

EPFO: Streamlined Claim Processing

The EPFO is simplifying claim settlement processes by introducing an IT system. This has eliminated human intervention and reduced the number of validation formalities from 27 to 18. Any claim with KYC, eligibility, and bank validation is processed automatically. The government further aims to reduce the number of validation formalities to 6.

Claim settlement periodicity has been reduced from 10 days to 3-4 days for EPFO members. Upfront validations guide members on eligibility. This ensures members do not file ineligible claims. To simplify the process, member databases are being centralised under Centralised IT Enabled. Claims not validated by systems undergo a second scrutiny level.

Conclusion

The Employees Provident Fund Organisation (EPFO) is enhancing the auto settlement of advanced claim (ASAC) limit. This aims to improve the ‘Ease of Living’ for its 7.5 crore members. The limit is being increased by 5 times, from ₹1 lakh to ₹5 lakh.

Sumita Dawra, Secretary of the Ministry of Labour and Employment, has approved the proposal. The approval occurred in the 113th meeting of the Executive Committee (EC) of the Central Board of Trustees (CBT). This was held in Srinagar, Jammu and Kashmir and was attended by the Central Provident Fund Commissioner, Ramesh Krishnamurthi.

The recommendation will now be submitted for CBT approval. After approval, members can withdraw up to ₹5 lakh through ASAC.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.