The Financial Wisdom

"10 million designers on the Postman stage now," Abhinav Asthana tweeted on February 7. The organization's 32-year-old CEO was retweeted by Postman's legitimate handle. Both have unobtrusive followings on Twitter and, accordingly, the achievement didn't make a big deal about a sprinkle. That changed on June 11. That is when Postman reported it had brought $150 million up in investment at a venture valuation of $2 billion. The more extensive world sat up and observed. As on the planet outside of the network of exactly 25 million-odd programming developers — the people for whom "hi world" isn't only an arbitrarily chipper expression (it is a straightforward program that coders initially learn). In that universe, Postman is something of a norm. It makes a particular assignment in programming designing — conversing with different applications — extremely simple. Furthermore, luckily for Postman, the web advanced over the most recent couple of years towa...

Covid brings out worst monetary plans for India

By Andy Mukherjee A rare meeting of minds between India’s Left and Right on a point of economics should alarm those who belong to neither. The two sides are tossing out similar — and similarly absurd — ideas. Before they make Prime Minister Narendra Modi’s government do something silly and harmful (such as the overnight ban on 86% of currency notes in 2016), both camps should acquaint themselves with rudiments of Modern Monetary Theory. It postulates that inflation — and not debts or deficits — is the only real constraint on what a modern government not yoked to the gold standard can afford. Even for those who aren’t MMT cheerleaders, its basic contention is worth remembering: A money-printing sovereign that issues debt in its own currency can’t run out of funds the same way as a household or a firm. Pro-labor academics, activists and social workers who think it’s morally justified to expropriate private property to support India’s pandemic-flattened economy should know that...

How to withdraw your EPF money online

The Employees' Provident Fund (EPF) rules allow you to withdraw from your EPF account for various reasons. You can withdraw money from your EPF account upon retirement after attainting the age of 55 years. You can also withdraw money from your EPF account for various purposes before retirement. These include purchasing a house, child's wedding and education, and funding financial emergencies caused due to the coronavirus-induced lockdown. You are also allowed to file a claim due to job loss or after you leave your job. However, before filing a claim, you should make sure that the prescribed conditions under the EPF scheme are met. Eligibility to file withdrawal Puneet Gupta, Director, People Advisory Services, EY India lists out the basic conditions that must be satisfied by an EPF member before filing for applicable advance or withdrawal from the EPF account: Other than the above-mentioned reasons, an individual can also claim applicable advance or withdrawal from the EPF a...

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