Sustaining heavy losses due to negative global cues, a benchmark index of Indian equities markets plunged over two percent or 573 points in the afternoon trade session Tuesday.
The company said the price hike has been necessitated due to increasing pressure on margins due to currency fluctuation.
Bill Gross, 69, who built Pimco over the course of decades into the colossus it is today, said two years ago that when he retired he expected El-Erian to take over.
The facility of online transfer of PF accounts has reduced the work load of EPFO substantially as over 13 lakh applicants are filed for such claims every year.
The notification was issued after RBI received references regarding what rate of exchange should be applied to the amount in foreign currency borrowed or owed by the resident entity from/to the non-resident entity.
Banks should calculate the incremental provisioning and capital requirements at least on a quarterly basis, it said.
The 8.28 percent government security maturing in 2027 declined to Rs 93.04 from Rs 93.14, while its yield fell moved up to 9.18 percent from 9.17 percent.
RBI said it simplified the norms following references from some Indian companies to issue non-convertible or redeemable bonus preference shares or debentures to non-resident shareholders.
This will apply to three banks - Indian Bank, UCO Bank and Vijaya Bank, Finance Minister P Chidambaram said after the cabinet meeting in New Delhi.
The consultant would also evaluate the performance of new fund managers and appoint a custodian and concurrent auditor for the EPFO.
At an extra-ordinary general meeting of the bank held in Kolkata on Tuesday, the shareholders approved the preferential issue of Rs 400 crore to government against capital infusion.
At the end of September quarter, EuroPacific Growth Fund had 3.91 percent stake in the company.
The government holds 58 percent, while FIIs, DIIs and others hold 11.19 percent, 11.78 percent and 19.03 percent, respectively, as on 30 September.