Business
PF Withdrawal Rule Changed: Why EPFO Will Keep 25% Of Your Balance Locked
New Delhi: In an conversation with CNBC-TV18, Employees’ Provident Fund Organisation (EPFO) Chief Ramesh Krishnamurthi defended the new rule that mandates members to keep 25 percent of their provident fund (PF) balance locked, even when they withdraw the rest. He said the move is aimed at ensuring long-term financial and retirement security for workers.
According to Krishnamurthi, many employees tend to withdraw their full savings after leaving a job, leaving little for retirement. The new rule allows them to withdraw up to 75 percent of their savings, while the remaining 25 percent stays invested as a safety net for the future. This balance continues to earn interest at 8.25 percent per year under current EPFO rules.
He pointed out that frequent withdrawals harm financial stability. EPFO data shows that around 75 percent of members exit the scheme within three years, and many end up with a final balance of less than Rs 20,000 when closing their accounts. The new policy aims to change this trend by helping workers build a meaningful retirement corpus.
The EPFO has also increased the waiting period for full withdrawal from two months to 12 months after leaving employment. While some critics say this causes hardship, Krishnamurthi explained that the change helps members stay eligible for pension and insurance benefits linked to long-term membership.
However, in special situations, employees can still withdraw 100 percent of their savings up to twice a year without providing a reason. If a person remains unemployed for more than 12 months, even the locked 25 percent can be withdrawn.
Business
Silver hits record Rs 1,70,415 on MCX: Nearly 20% gain recorded in October- What could it mean amid festive season rush? – The Times of India
Silver prices soared to a record high on the Multi Commodity Exchange (MCX) on Friday as the December 2025 futures contract climbed to Rs 1,70,415 per kilogram. This marks an increase of Rs 1,977 or 1.18% for the day.The surge in silver prices has resulted in a remarkable 19.8% gain for the month of October, rising from a closing price of Rs 1,42,145 on September 30. This significant monthly increase highlights strong festive demand and growing industrial interest in the metal.The recent rally has sparked renewed interest in silver’s long-term potential, with analysts attributing the uptrend to solid underlying fundamentals. Mahendra Patil, Founder and Managing Partner at MP Financial Advisory Services LLP (MPFASL), noted that silver is experiencing “a phase of structural endurance rather than speculative exuberance”, as quoted by Economic Times.Patil pointed out that while silver has historically been volatile, its past performance offers valuable insights. The metal previously approached the $50 per ounce mark in 1980 and 2011, and with 2025 marking its third such approach, the focus is now on whether it can maintain sustained momentum.In 2025, silver prices surged from $29 to over $47 per ounce, reaching “its highest level in more than a decade.” MPFASL attributes this momentum to several factors, including “higher expectations from US rate cuts, sustained central-bank buying, and industrial restocking across solar and electronics supply chains.”Highlighting silver’s dual appeal, Patil said, “Silver is gaining ground as both a symbolic and practical substitute. Beyond its decorative appeal, the industrial demand linked to solar panels, electronics, and electric mobility provides fundamental support to prices, creating a dual-use demand base that gold lacks.”The rise in silver demand is not limited to global markets. In India, silver imports have increased significantly. “Silver imports have expanded, reflecting its growing relevance as an industrial and investment metal within the renewable-energy and electronics value chains,” MPFASL reported.Data from the firm also revealed that silver delivered an annualized return of 32.92% in the CY2023–CY2025 period, with a volatility of 24.66%, based on historical performance. The correlation between gold and silver during this period stood at 0.95, indicating closely linked price movements, although silver’s trajectory has increasingly been driven by industrial factors.
Outlook
Looking ahead, MPFASL suggests that silver may continue to benefit from its industrial underpinnings. “Silver exceeded expectations, crossing $47 per ounce on renewed industrial restocking in solar and electronics,” the report noted.Most projections indicate that silver is expected to remain in the $44–50 per ounce range through FY2026. While gold may experience consolidation, “silver amplified the momentum as the cyclical bellwether of a broader industrial revival.”As India enters the festive season and global industrial restocking continues, the metal’s trajectory will likely depend on sustained demand from the electronics and renewable sectors. MPFASL adds that silver’s ability to surpass the $50 per ounce mark may depend on whether it can “finally build sustained momentum and move toward the next big landmark, its metaphorical ‘century.'”For domestic traders, Rs 1,70,415 now serves as a key resistance level on MCX. With industrial and festive tailwinds in play, attention will remain on whether silver can build upon this rally or consolidate near its current highs.(Disclaimer: Recommendations and views on asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
Last Updated:
The Hindustan Coca-Cola Beverages IPO might occur next year if it goes ahead, according to Bloomberg citing people familiar with the matter.
“It’s still early in the process and the company hasn’t hired bankers for the deal yet,” said the Bloomberg report quoting the people as saying.
Hindustan Coca-Cola Beverages IPO: Coca-Cola is considering launching a $1-billion IPO of its Indian bottling unit Hindustan Coca-Cola Beverages Pvt, Bloomberg has reported citing people familiar with the matter. It said the global giant has met with bankers in recent weeks to discuss the possible IPO of the local arm.
“It’s still early in the process and the company hasn’t hired bankers for the deal yet,” the report cited the people as saying.
The IPO might occur next year if it goes ahead, as per Bloomberg.
(The story will be updated)
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More
October 17, 2025, 12:48 IST
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BBCA couple of years ago, London banker Varun Yadav downloaded several dating apps, hoping to meet his life partner.
On Indian matrimonial site Jeevansathi, meaning “life partner” in Hindi, he started talking to a woman who said her name was Rekha Shah.
After months of talking on WhatsApp and video calls, she asked him if he would invest in crypto trading with her – a decision which caused him to lose his life savings and left him feeling suicidal.
“You see all the signs, but you are so emotionally attached. You are willing to lose the money, but you are not willing to lose the connection,” he told BBC Radio London.
Varun was a victim of romance fraud, a growing crime that saw an estimated £106m lost by victims in the UK past financial year, according to Action Fraud.
Victims in London account for just under £14m of that total, with 1,276 reports of romance fraud in the capital.
The average victim lost £11,222, but Varun lost far more, totalling around £40,000.
This comes as the Financial Conduct Authority (FCA) said banks are missing opportunities to help “break the spell” of romance scams.
They said some banks had gone to significant lengths to protect customers against romance fraud, but advised further measures, such as better detection and monitoring systems, identifying vulnerability early on, and compassionate aftercare.
The FCA also said firms need to train staff to spot red flags and critically probe customer explanations.
PA MediaVarun was initially cautious when asked to invest in cryptocurrency using a platform called Deuncoin, but was initially able to gain and withdraw money.
He was not aware of anything wrong until he made a big loss and the woman asked him to put in all his savings to recover the losses.
He then found he was unable to withdraw the funds, and realised “it was all one big scam”.
‘Fear and shame’
He said he thought his life was over after becoming a victim of romance fraud.
“I thought, I’ve lost everything. I’ve lost the person I thought was going to be my life partner, I’ve lost all my life savings.”
When he initially lost the money he knew it was a red flag, but said he “ignored the signs because of the fear and the shame”.
Now 41, Varun hopes sharing his story will help ensure others do not have to face what he went through alone.
“When I shared my story with my friends, a lot of them said they’d been part of a similar scam, but were too ashamed to say it.
“This is a trauma that will stay with me for life, but I’ve learnt coping mechanisms and rebuilt my life. There is hope.”
![Getty Images A text message being sent on a phone, reading 'I love [heart emoji] you. can you send me some money [heart emoji]'.](https://ichef.bbci.co.uk/news/480/cpsprodpb/8c60/live/691d6cf0-aa7f-11f0-aa13-0b0479f6f42a.png.webp)
Getty ImagesWhat is romance fraud?
Romance fraud involves fraudsters creating fake online personas to gain someone’s trust and affection through the guise of a romantic relationship, and ultimately exploiting them for money.
They manipulate, persuade and exploit victims, often encouraging them to isolate themselves socially and requiring urgency and secrecy from the victim.
Action Fraud’s key tips for protecting yourself against romance fraud include:
- Never send money, vouchers or cryptocurrency to someone you’ve met online
- Treat people as you would if meeting in person, by asking questions and taking your time.
- Be cautious about how much information you share, and keep your social media accounts private and secure.
- Talk to friends and family.
- If you think you have been a victim of romance fraud, contact your bank immediately and report to Action Fraud.
- A list of organisations in the UK offering support and information with some of the issues in this story is available at BBC Action Line.
Earlier this month, the Metropolitan Police launched a campaign to help prevent people like Varun from getting scammed.
This includes videos giving real-life accounts from victims, showing what romance fraud looks like, how to prevent it, and where to get further support if needed.
They have also undertaken intelligence sharing to trace suspects overseas, and collaborated with banks, dating apps and social media sites to identify fraud.
Det Supt Kerry Wood, head of economic crime for the Met Police, said: “Romance fraud is one of the most devastating types of fraud we deal with.
“It doesn’t just lead to people losing thousands of pounds – it’s also an abuse of trust which has a devastating impact on people’s confidence and sense of self-worth.
“Awareness is the most powerful defence against fraud. By talking openly, we can protect ourselves, our loved ones, and our communities from this deeply personal and damaging crime and bring those responsible to justice.”
Meanwhile, Varun was not able to recover the money he lost, but said “I’ve made my peace with it” and has rebuilt his life since.
He is encouraging anyone going through romance fraud to “reach out to family, friends and colleagues”, adding, “whatever is happening, do not isolate yourself”.
Additional reporting from PA Media
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Silver hits record Rs 1,70,415 on MCX: Nearly 20% gain recorded in October- What could it mean amid festive season rush? – The Times of India
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