MANILA, Philippines – A solid cushion of foreign reserves and an anticipated easing action by the US Federal Reserve (Fed) this month could give the Bangko Sentral ng Pilipinas (BSP) room to front-load further rate cuts.
This move would support economic growth without putting too much pressure on the peso.
In a note to clients, BMI Research, a unit…
https://business.inquirer.net/552414/more-bsp-rate-cuts-likely-ahead-says-fitch-unit
**EPFO Approves Liberalised Partial Withdrawal Rules to Benefit Over 70 Million Account Holders**
In a significant reform aimed at enhancing the ease of living for more than 70 million account holders, the Employees’ Provident Fund Organisation (EPFO) has approved liberalised partial withdrawal rules. This landmark decision allows members to withdraw up to 100 per cent of their eligible provident fund balance, reported PTI.
The announcement came during the Central Board of Trustees (CBT) meeting chaired by Union Minister Mansukh Mandaviya. The board resolved to simplify the existing 13 complex withdrawal rules into three clear categories:
– **Essential Needs** (such as illness, education, marriage)
– **Housing Needs**
– **Special Circumstances**
### Key Highlights of the New Withdrawal Rules
– **Full withdrawal (100%) allowed:** Both employee and employer contributions can be withdrawn entirely under specified conditions.
– **Increased withdrawal limits:** Education-related withdrawals can be made up to 10 times the previous limits, and marriage withdrawals up to 5 times, a significant jump from the earlier combined limit of 3 times.
– **Reduced minimum service requirement:** Members are now eligible for partial withdrawals after just 12 months of service.
– **Easier claims under Special Circumstances:** Members no longer need to specify reasons, reducing the chance of claim rejections.
– **Minimum balance to retain:** A minimum balance of 25 per cent must be retained in the account to ensure long-term retirement savings are protected.
– **Documentation-free processing:** The new process aims for 100 per cent auto-settlement of claims, making withdrawals faster and hassle-free.
### Revised Final Settlement Rules
The CBT also approved changes to the final settlement timelines:
– The waiting period for full EPF withdrawal has been reduced from 2 months to **12 months** after leaving an employer.
– The timeline for final pension withdrawal has been extended to **36 months** to safeguard pension benefits.
### ‘Vishwas Scheme’ Introduced to Ease Litigation
To minimize litigation, EPFO introduced the ‘Vishwas Scheme’ to resolve pending penalty cases under Section 14B. The scheme offers a flat penalty rate of 1 per cent per month, with reduced rates for shorter defaults. It covers both pending and ongoing litigations and will be operational for 6 months, extendable by another 6 months.
### Doorstep Digital Life Certificate Service for Pensioners
The board also approved a Memorandum of Understanding (MoU) with India Post Payments Bank (IPPB) to provide doorstep Digital Life Certificate (DLC) services free of charge to EPS 1995 pensioners. This initiative aims to help elderly pensioners, especially in rural areas, continue receiving their pensions smoothly without hassle.
### EPFO 3.0: A Member-Centric Digital Revamp
As part of the EPFO 3.0 digital transformation, a new member-centric digital framework was approved. Key features include:
– Integration with core banking solutions
– Adoption of cloud-native technology
– API-first architecture to enable faster, automated claims
– Payroll-linked contributions
– Multi-language self-service portals
### Investment Strategy and Digital Initiatives
Four fund managers have been selected to manage EPFO’s debt investment portfolio for a five-year term, ensuring safe and effective investment of retirement savings.
Minister Mansukh Mandaviya also launched several key digital initiatives focused on enhancing the efficiency and user-friendliness of EPFO services, reinforcing the organisation’s commitment to delivering seamless experiences to members.
—
*With inputs from PTI*
https://www.mid-day.com/news/india-news/article/epfo-simplifies-13-complex-claim-rules-allows-100-per-cent-partial-withdrawal-check-complete-details-here-23598521
**How Much Gold Can Indians Own? Know the Law**
*By Dwaipayan Roy | Oct 13, 2025, 05:48 PM*
With Dhanteras and Diwali approaching, many families are considering their gold purchases. Understanding the legal aspects of gold ownership in India is essential before making any investment.
### Historical Background
The Gold Control Act of 1968 once imposed restrictions on gold ownership in India. However, this law was repealed in 1990. Since then, there are no legal limits on how much gold a person can own, provided they can prove the legitimate source of the gold through invoices or inheritance documents.
### Limits on Seizing Gold Jewelry During Raids
The Central Board of Direct Taxes (CBDT) has issued specific guidelines for income tax officials during raids on gold holdings. According to a circular dated May 11, 1994, there are limits on the quantity of gold jewelry that cannot be seized during such raids. These limits are:
– 500 grams for married women
– 250 grams for unmarried women
– 100 grams per male member of the family, regardless of marital status
These measures are intended to protect genuine personal holdings from confiscation.
### Tax Implications on Gold
The tax treatment of gold depends on its form and the holding period:
– Physical gold, Gold Exchange-Traded Funds (ETFs), and other digital gold products are considered capital assets.
– If sold within 12 months of purchase, the gains are treated as short-term capital gains (STCG) and taxed according to the individual’s income tax slab (ranging from 5% to 30%).
– If held for more than 12 months, the gains qualify for long-term capital gains (LTCG) tax at a flat rate of 20% under the current tax regime, without the benefit of indexation.
### Conclusion
There is no restriction on the amount of gold an individual can own in India today. However, it is crucial to maintain proper documentation to prove the source of gold and to be aware of tax liabilities when selling gold assets. As the festive season nears, investors should make informed decisions regarding their gold purchases to stay compliant with the law.
https://www.newsbytesapp.com/news/business/is-there-limit-on-gold-ownership-in-india/story
Bad loans in the Philippine banking system climbed to a nine-month high in August. This rise comes as lenders, squeezed by narrower margins due to falling interest rates, may have turned to riskier retail borrowers in search of higher returns.
Latest data from the Bangko Sentral ng Pilipinas showed an increase in nonperforming loans (NPLs), which are defined as debts overdue by at least 90 days. This trend highlights growing concerns about credit quality amid changing market conditions.
https://business.inquirer.net/552316/bad-bank-loans-climbed-to-nine-month-high-in-august
Megawide Construction Corp. has moved closer to raising nearly P3 billion from its upcoming preferred share offer after securing regulatory approval.
This development will enable the firm to strengthen its financial position as it expands its real estate unit.
In a statement released over the weekend, the Securities and Exchange Commission (SEC) announced that the commission en banc has given its approval for the offer.
https://business.inquirer.net/552315/sec-oks-megawides-p-3-b-share-offer
**Why India’s Largest Oil Producer Has a Lower Market Cap Than Zomato**
*By Dwaipayan Roy | Oct 12, 2025, 06:21 PM*
—
**What’s the Story?**
Oil and Natural Gas Corporation (ONGC), India’s largest oil and gas producer, is perceived as undervalued by the market. Despite having a market capitalization of around ₹3.1 lakh crore, ONGC trails behind food delivery giant Zomato in terms of market value.
This discrepancy largely stems from the fact that ONGC’s stakes in subsidiaries and minority investments account for over a third of its total market capitalization, which the market has not fully priced in.
—
**Market Comparison: ONGC vs. Major Indian Companies**
Over the past 13 years, ONGC’s market capitalization has grown by only 26%. In contrast, other listed Indian companies have experienced phenomenal growth in valuations:
– **Reliance Industries**’ market cap surged from ₹2.43 lakh crore in July 2012 to ₹18.7 lakh crore today.
– **Tata Consultancy Services (TCS)** saw its market value rise from ₹2.42 lakh crore in July 2012 to ₹10.95 lakh crore now.
This stark contrast highlights the sluggish market growth of ONGC despite its dominant position in the oil and gas sector.
—
**Value of ONGC’s Portfolio: Stakes in Subsidiaries and Minority Investments**
ONGC holds significant stakes in several subsidiaries and other companies, yet the market has yet to fully appreciate these assets’ value:
– A **71.63% stake in Mangalore Refinery and Petrochemicals Limited (MRPL)**, valued at over ₹18,000 crore.
– A **54.9% stake in Hindustan Petroleum Corporation Ltd (HPCL)**, worth approximately ₹52,770 crore.
In addition, ONGC has minority stakes in:
– **Indian Oil Corporation** – 14.2%, valued at ₹31,000 crore
– **GAIL (India) Ltd** – 5%, worth about ₹5,900 crore
Combined, the total value of ONGC’s stakes in subsidiaries and minority investments exceeds ₹1.07 lakh crore — more than a third of its current market capitalization.
—
**Government Perspective: Addressing Market Perception**
Oil Minister Hardeep Singh Puri recently expressed concern over the market’s undervaluation of state-owned oil public sector undertakings (PSUs). He stated that despite these PSUs’ strong profitability and significant contribution to the economy, investors harbor a “perception bias” that suppresses their market value.
Minister Puri also highlighted that over the past six years, India’s three major oil marketing companies—Indian Oil, Bharat Petroleum, and Hindustan Petroleum—have collectively generated profits totaling ₹2.5 lakh crore.
—
**Conclusion**
While ONGC remains India’s largest oil producer with substantial assets and stakes in profitable subsidiaries, the market has yet to fully value its diversified portfolio. Addressing the perception bias around PSUs could unlock significant value for investors in the sector.
https://www.newsbytesapp.com/news/business/ongc-s-market-cap-growth-lags-behind-peers/story
**Mutual Funds Pump ₹6,420 Crore into IPOs During September Quarter**
*By Dwaipayan Roy | Oct 11, 2025, 05:29 PM*
Indian mutual funds invested ₹6,420 crore in initial public offerings (IPOs) during the July-September quarter of 2025, marking a 13% increase from the previous quarter. This notable surge in investment is attributed to steady inflows into equity schemes via systematic investment plans (SIPs) and lump-sum investments.
According to data from the PRIME Database, mutual funds have played a crucial role in anchoring IPOs, with their participation as anchor investors rising by 32% to ₹5,129 crore last quarter.
### Surge in Large Issuances
Mutual funds’ investment in IPOs through qualified institutional buyers (QIBs) increased significantly, rising 13% from ₹5,689 crore in the June quarter to ₹6,420 crore in the September quarter. This growth is largely driven by a surge in large issuances over recent months.
The number of fresh issuances also jumped sharply to 46 from just 15 in the previous quarter, reflecting a more vibrant IPO market.
### Mutual Funds as Key Anchor Investors
Mutual funds play a vital role as anchor investors in IPOs. They commit to holding 50% of their shares for 30 days and the remaining shares for 90 days. This lock-in period requirement distinguishes them from non-anchor QIBs, which do not have any mandatory lock-in.
Despite market volatility and subdued benchmark index returns this year, investors continue to place strong confidence in mutual funds. Many see them as a strategic way to tap into India’s long-term growth story.
—
*Stay tuned for more updates on market trends and investment insights.*
https://www.newsbytesapp.com/news/business/mutual-funds-ipo-investments-rise-13-in-september-quarter/story
**Why Reliance Power’s CFO Has Been Arrested by the ED**
*By Dwaipayan Roy | Oct 11, 2025, 11:08 AM*
**Overview**
The Enforcement Directorate (ED) has arrested Ashok Pal, the Chief Financial Officer (CFO) of Reliance Power, in connection with a money laundering case. The arrest took place on Friday night following questioning related to an alleged fake bank guarantee worth ₹68 crore. Pal is scheduled to be produced before a special court, where the ED will seek his remand for custodial interrogation.
**Details of the Case**
According to the ED, Ashok Pal played a key role in the financial activities of the company and was instrumental in submitting a bogus bank guarantee on behalf of Reliance NU BESS Limited, a subsidiary of Reliance Power. The fake bank guarantee, valued at ₹68.2 crore, was submitted to the Solar Energy Corporation of India Limited (SECI) with the intent to defraud.
**Exposure of a Larger Racket**
The ED’s investigation has uncovered a broader racket involving the provision of fake bank guarantees to various business groups. An Odisha-based company, Biswal Tradelink, has been identified as a primary player in this fraudulent scheme. In August, the agency conducted searches on the firm and its promoters and arrested its Managing Director, Partha Sarathi Biswal.
Earlier, the Reliance Group had stated that Reliance Power was a victim of fraud in this matter.
**How the Scheme Operated**
Preliminary investigations revealed that Biswal Tradelink used an email domain strikingly similar to that of the State Bank of India (SBI) to create a false impression of authenticity. This fake email domain was used to send forged communications to SECI.
Additionally, the company facilitated fake billing for commission purposes and operated multiple undisclosed bank accounts used for suspicious transactions amounting to crores of rupees.
—
The ED continues its investigation as it seeks to bring all those involved in this fraud to justice.
https://www.newsbytesapp.com/news/business/ed-arrests-reliance-power-cfo-in-bank-guarantee-fraud-case/story
2025/10/11 6:38 （2025/10/11 6:40 更新）
【有料会員限定記事】
【ニューヨーク共同】10日のニューヨーク外国為替市場の円相場は午後5時現在、前日比1円90銭の円高・ドル安で、1ドル＝151円13～23銭を付けた。ユーロは1ユーロ＝1.1610～1.1620ドル、175円62銭～となっている。
この記事は有料会員限定です。残り56文字
7日間無料トライアル、1日37円で読み放題。
年払いならもっとお得です。
クリップ機能は有料会員の方のみお使いいただけます。
—
title: 米、アルゼンチンに経済支援 3兆円スワップ、通貨購入
date: 2025-10-10 09:03
—
【サンパウロ共同】ベセント米財務長官は9日、経済危機に直面するアルゼンチンに対する支援策を発表した。
同長官はアルゼンチンのカプト経済相と協議し、200億ドル（約3兆円）規模の通貨交換（スワップ）協定やアルゼンチンの通貨購入を行う方針を明らかにした。
この支援策は、アルゼンチンの経済安定化と市場の信頼回復を目的としている。
—
※この記事は有料会員限定です。全文を読むには、有料会員登録が必要となります。7日間の無料トライアルもご利用いただけます。
https://www.nishinippon.co.jp/item/1409702/
