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PFRDA issues circular on expanded guidelines on reinvestment of returned, pending transaction amounts into PRANs

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PFRDA issues circular on expanded guidelines on reinvestment of returned, pending transaction amounts into PRANs


New Delhi: The Pension Fund Regulatory and Development Authority (PFRDA) has issued circular on expanded guidelines on reinvestment of returned, pending transaction amounts into PRANs.

PFRDA’s previous circular in 2023 allowed the reinvestment of returned amounts into the same PRAN, based on the investment choice and pension fund allocation prevailing at the time of exit. This policy was implemented to ensure subscribers benefit from market-linked returns.

Initially, only those NPS/APY funds which could not be credited to the subscriber’s bank account due to incorrect bank account details were eligible for reinvestment into the subscriber’s PRAN. However, PFRDA says, there are other scenarios where transactions remain pending in the NPS system following the authorization of exit/withdrawal and which prevents the NPS/APY subscribers from receiving the benefits of market returns.

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To further enhance subscriber benefits, and in continuation of the previous circular, PFRDA has decided that the following transactions will also be eligible for reinvestment into the subscriber’s PRAN by the Central Record Keeping Agency (CRA):

1. Returned or unsuccessful transactions which have failed to be credited to the subscriber’s or nominee’s bank account due to specific reasons (e.g., account closed, invalid IFSC, frozen/dormant status etc).

2. Annuity cancellation proceeds returned by ASP due to Free Look Period Cancellation (FLC) exercised by the subscriber.

3. Annuity cancellation proceeds due to Non-NPS cases (OPS or Family pension).

4. Amount kept on hold by CRA due to quality monitoring or pending clarification.

5. Amount withheld by CRA due to ongoing legal matters or disputes related to withdrawal requests.

6. Returned transactions pertaining to Tier II withdrawal, Partial withdrawal and Death withdrawal cases.

The CRA will reinvest the returned amount into the subscriber’s PRAN after a period of one month (30 days) from the date the funds are credited to the NPS Trust withdrawal account, in cases where required documentation or clarifications are not received from the subscriber, nodal office or ASP.



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Ads for British beef and milk banned following Chris Packham complaint

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Ads for British beef and milk banned following Chris Packham complaint



Two ads promoting British beef and milk have been banned after television presenter and environmental campaigner Chris Packham complained that they misled consumers about the products’ carbon footprints.

Both ads for the Agriculture and Horticulture Development Board’s (AHDB) Let’s Eat Balanced campaign used the carbon footprint of British beef and milk to promote the products, firstly stating: “British beef not only tastes great, but has a carbon footprint that’s half the global average*.”

The asterisk linked to text that stated: “Full lifecycle emissions of CO2 eq (carbon dioxide equivalent) per kg of beef.”

The ad for milk stated: “British milk not only tastes good, but is also produced to world-class standards, and has a carbon footprint a third lower than the global average.”

Packham complained to the Advertising Standards Authority (ASA) that the ads, and specifically the carbon footprint claims, were misleading as they did not reflect the full environmental impact of British meat and dairy.

The AHDB said the ads’ mention of carbon emissions would be understood in relation to the environmental impact of beef and milk that occurred between the “cradle-to-retail” stages.

But the ASA said the average consumer “being reasonably well-informed, observant and circumspect” would understand the claims to apply beyond the retail stage and include actions such as cooking and wastage.

The ASA said: “While we acknowledged the potential difficulties in producing post-retail emissions data, the claims in the ads suggested those emissions were included and we therefore expected the evidence provided to also include them.

“We therefore concluded that the evidence presented was insufficient to support the full life-cycle claims in the ads, which was how the average consumer was likely to interpret them.

“We reminded AHDB that environmental claims should be based on the full life cycle unless the ad stated otherwise.”

AHDB’s director of communications and market development, Will Jackson, said: “Let’s Eat Balanced is doing what it was designed to do, providing clear, factual, evidence-led information about British food, nutrition and farming standards.

“Since the investigation began, we have conducted independent consumer research which found that the majority of respondents interpreted these adverts as relating to the production phase only, from farm to retail.

“This research provides important insight into consumer understanding and supports our belief that consumers were not misled by the information we shared in these two specific adverts.”



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Gen Z pros embrace ‘portfolio careers’ as side hustles surge – The Times of India

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Gen Z pros embrace ‘portfolio careers’ as side hustles surge – The Times of India


BENGALURU: India’s Gen Z workforce is embracing what experts describe as “portfolio careers” – balancing multiple professional identities and income streams simultaneously. New research from LinkedIn shows that 75% of Gen Z entrepreneurs in India now manage multiple income streams, significantly higher than the 62% among Gen X entrepreneurs. The findings point to a growing preference among younger professionals for flexibility, autonomy and diversified sources of income. “We’re also seeing the rise of the ‘portfolio era’, with more professionals creating multiple income streams and redefining what a career can look like. This shift is making entrepreneurship more accessible than ever before,” said LinkedIn India country manager Kumaresh Pattabiraman.Rather than depending on a single full-time role, many professionals are simultaneously building businesses, freelancing, consulting, creating online content and monetising specialised skills through digital platforms. The trend comes amid a broader rise in entrepreneurial activity in India. LinkedIn recorded a 104% year-on-year increase in members adding “Founder” to their profiles – the highest growth among all global markets.AI is also emerging as a major enabler of this shift. The report found that 85% of Gen Z entrepreneurs consider AI and digital tools important to their business operations.



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Elon Musk said control of OpenAI should go to his children, Sam Altman tells jury

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Elon Musk said control of OpenAI should go to his children, Sam Altman tells jury



Sam Altman said Elon Musk tried many times for total control of OpenAI, which he’s now suing.



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