What are crypto order books and how can they be used to predict price changes

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Those speculating on the price of a cryptocurrency can deploy various tools in their arsenal to arrive at an accurate conclusion. Usually, most use a mix of fundamental analysis and technical analysis to place buy and sell bets on crypto. However, a lesser-known but equally vital component that one can use to predict the price of crypto is by looking at the order book. But what is the crypto order book and how does it work? Read on to find out more.

What is an order book?

In simple terms, an order book is an electronic list of buy and sell orders for any asset that is sold on exchanges. The term is applied to crypto, wherein an order book reflects all the real-time buy and sell orders that are entered on exchanges.

The order book is mainly divided into two sections – one that contains buy orders, also known as bid, and the other called sell orders, also known as ask. Each section contains mainly three columns – the price at which crypto was bought or sold, the quantity of crypto bought or sold, and the total column which is calculated by multiplying the price and quantity. Additionally, one may notice green bars along some buy entries and red bars along some sell entries. These bars reflect the volume at a specific price point. Longer the bar, the higher the volume, and vice-versa.

Also Read: What are sandwich attacks and how did an Ethereum validator execute one to steal $25 million in cryptocurrency

Additional features, such as rearranging the order book from the highest to lowest orders or changing the lot size can vary from exchange to exchange. For instance, on the crypto exchange ByBit and Binance, one can change the batch on the order book such that the book will reflect orders placed in batches of 100.

A visual representation of the order book is provided on the market depth chart. The chart’s Y axis displays the number of orders placed at each price level, while the X axis displays the prices at which buy and sell orders are made. One can hover over the chart to see how many buy and sell orders are placed at a particular price.

Although each exchange maintains a separate order book that reflects buy and sell orders placed on that particular exchange, websites such as Coinglass offer users a comprehensive list of the average of all orders placed on all available exchanges.

How orders books can be used to predict price changes

So how exactly does an order book help one understand the market and predict the price of crypto? The answer is quite straightforward. Think of the demand book as an accurate measure of demand for a particular crypto in the market. Should the buy orders exceed the sell orders, the price of the crypto would rise. Meanwhile, should sell orders exceed buy orders, the price would fall. But this can sometimes get complicated, so let’s understand it better with an example.

Let’s say there are 100 market participants willing to buy Bitcoin at $20,000 and 100 willing to sell Bitcoin at $20,000. Should all other macro factors remain constant, this is an indication that Bitcoin would most likely remain stable at $20,000, given the equal demand and supply. However, let us now assume that 30 participants drop out at the $20,000 buy range and instead want to purchase Bitcoins at $15,000. Since there are now more sellers than buyers, it’s likely that the price of Bitcoin would fall below the $20,000 mark. However, there is a chance that the price would rebound to $15,000 and move higher since there is more demand than supply at this price point.

Limitations of order books

Order books are more suited to short-term investors who have to keep a close eye on the market at most times during the day. This is because supply and demand can change rapidly in a given day and the data is most relevant for shorter durations.

Furthermore, the order book is not a reflection of the overall health of a crypto project. It doesn’t state why the sell or buy orders are being made, it only gauges market sentiment. Hence, the order book is less suited to long-term investors, liquidity providers, stakers and miners who need more comprehensive data before choosing a project.

Also Read: What is tokenised gold and how is its price affected

Conclusion

The order book can be a powerful tool in the right hands. It is an important metric to understand the demand and supply of cryptocurrencies. However, since market sentiment can change rather quickly, it’s important to use a combination of different strategies to accurately predict the direction of a cryptocurrency.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Refractory company RHI Magnesita raises Rs 900 cr via QIP route

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Refractory player RHI Magnesita India on Thursday, April 6, said it has raised Rs 900 crore through a qualified institution’s placement (QIP).

The company will issue 1,57,15,034 shares to 57 qualified institutional buyers at the issue price of Rs 572.70 per equity share, i.e. at a premium of 571.70 per equity share, aggregating to Rs 9,00 crore, RHI Magnesita India said in an exchange filing.

“After the allotment of equity shares, the paid-up equity share capital of the company stands increased to Rs 20,37,11,365.00 consisting of 20,37,11,365 equity shares of face value Rs 1 each,” it said.

Also Read: New rules for online gaming companies could be issued soon

The QIP issue opened on March 29 2023 and closed on April 5, 2023. HSBC Securities and Capital Markets (India) Pvt Ltd was the sole book runner on the QIP.

“We are pleased to announce a successful QIP. This transaction demonstrates the support of high-quality international and domestic institutional investors in the business and financial model of our company,” the company’s CEO and MD Pramod Sagar said.

The Rs 900-crore proceeds raised from the QIP will be used to finance the company’s growth through acquisition and in the modernisation of its operations, enabling it to capitalise on opportunities in the fast-growing refractory market in the India and West Asia regions, Sagar said.

Also Read: Dunzo lays off nearly 300 employees and secures $75 mn funding ahead of IPO

RHI Magnesita India is the leading global supplier of high-grade refractory products, systems, and solutions that are critical for high-temperature processes exceeding 1,200 degree Celsius in a wide range of industries, including steel, cement, non-ferrous metals, and glass.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Elgar Parishad case: Special NIA court rejects activist Gautam Navlakha’s bail plea

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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A special NIA court here on Thursday rejected the bail plea of activist Gautam Navlakha, an accused in the Elgar Parishad-Maoist links case.

Last month, the Bombay High Court had quashed the earlier order passed by the special judge and directed him to rehear Navlakha’s bail plea. The HC had said the special court’s order did not contain an analysis of the evidence relied upon by the prosecution.

On Thursday, Special Judge Rajesh Katariya denied Navlakha bail after hearing the submissions afresh.

Navlakha was arrested in August 2018 and was moved to Taloja Jail near Mumbai in April 2020 after initial period of house arrest.

On November 10 last year, the Supreme Court allowed his plea to be shifted back to house arrest for a month. Navlakha is at present residing in Navi Mumbai in Maharashtra’s Thane district.

The case in which he has been arrested relates to alleged inflammatory speeches made at the Elgar Parishad conclave held in Pune on December 31, 2017.

As per Pune police, these speeches triggered caste riots the next day in the vicinity of the Koregaon Bhima War Memorial there.

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

One-horned rhinoceroses trails: A guide to visiting Kaziranga National Park

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Kaziranga National Park, located in Assam, is a world-renowned wildlife reserve and a must-visit destination for nature enthusiasts. It is home to the world’s largest population of one-horned rhinoceroses, as well as many other species of mammals, birds, and reptiles.

The park was established in 1905 to protect the dwindling population of one-horned rhinoceroses and today it is a UNESCO World Heritage Site. Kaziranga is spread over an area of 430 square kilometres and is situated on the banks of the Brahmaputra River. Its varied topography includes grasslands, wetlands, and forests.

Kaziranga is not only a paradise for wildlife enthusiasts but also for those who love to be surrounded by nature’s beauty. The park offers breathtaking views of landscapes, rare flora and fauna, and an unforgettable experience of watching animals in their natural habitat.

In this article, we will take you through a comprehensive guide to visiting Kaziranga National Park. So, let’s dive in and explore the magic of Kaziranga!

Getting to Kaziranga National Park

Kaziranga National Park is located in Assam in India. It’s well-connected to the rest of the country by air, train, and road.

By Air:

The nearest airport to Kaziranga National Park is the Lokpriya Gopinath Bordoloi International Airport in Guwahati, which is about 220 km away. From the airport, you can hire a taxi or take a bus to reach Kaziranga. The journey takes around 4-5 hours depending on traffic and road conditions.

ALSO READ| Lion trails: Roaming through the beauties of Gir National Park

By Train:

The nearest railway station to Kaziranga National Park is the Furkating Junction, which is about 75 km away. The station is well-connected to major cities in India such as Delhi, Mumbai, Kolkata, and Chennai. From the station, you can hire a taxi or take a bus to reach Kaziranga.

By Road:

Kaziranga National Park is well-connected to major cities in Assam and other neighbouring states via a network of well-maintained roads. You can take a taxi or bus from cities such as Guwahati, Jorhat, Tezpur, and Dibrugarh to reach Kaziranga.

Travel Tips:

• It’s recommended to plan your travel well in advance as the park can get crowded during peak season.
• Book your accommodation in advance to avoid last-minute hassles.
• Carry warm clothing during the winter months (November to February) as the temperature can drop to 5-6°C in the early morning hours.
• Don’t forget to carry insect repellent and sunscreen lotion.
• Avoid carrying plastic bottles and other non-biodegradable items inside the park.
• Follow the rules and regulations of the park to ensure a safe and enjoyable experience.

Best time to visit Kaziranga National Park

When planning a trip to Kaziranga National Park, it is important to consider the weather conditions to make the most of your visit. The park is open to visitors from November to April every year. During the winter months (November to February), the weather is pleasant with a temperature ranging between 5°C to 25°C. This is also the peak season for visitors, and the park can get quite crowded.

The months of March and April mark the onset of summer, with temperatures ranging from 15°C to 30°C. This is the ideal time for wildlife sightings as animals tend to come out in search of water. The park also gets fewer visitors during this time, making it a great time for those who prefer to avoid crowds.

Wildlife in Kaziranga National Park

Kaziranga National Park is known for its rich and diverse wildlife. The park is home to the world’s largest population of one-horned rhinoceroses, as well as a significant population of Asiatic elephants, Bengal tigers, and Asiatic water buffalo. The park also boasts a variety of other animals and birds that are unique to this region.

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One-horned rhinoceroses are the star attraction of the park, with over 2,000 individuals living within the park’s boundaries. Kaziranga is also home to the world’s largest population of Asiatic water buffalo, with over 1,500 individuals. Visitors can spot these majestic animals during early morning or late afternoon jeep safaris or elephant rides.

The park is also home to a significant population of Asiatic elephants, with over 1,500 individuals. Visitors can observe these gentle giants during the early morning or late afternoon elephant safaris.

Bengal tigers are one of the most elusive animals in the park, but lucky visitors might catch a glimpse of them during early morning or late afternoon jeep safaris. Other animals that can be spotted in the park include Indian bison, sambar deer, barking deer, wild boar, and hog deer.

Birdwatchers will be delighted to know that Kaziranga is also home to over 400 species of birds, including the great Indian hornbill, the white-winged wood duck, and the Bengal florican. Visitors can hire a guide or join a bird-watching tour to spot these magnificent birds in their natural habitat.

Activities in Kaziranga National Park

Kaziranga National Park offers a wide range of activities for visitors. The most popular way to explore the park is through jeep safaris. Jeep safaris can be booked through authorised tour operators and last for around 2-3 hours. Elephant safaris are another popular option, where visitors can get up close and personal with the wildlife of the park. These safaris usually last for around one hour and need to be booked in advance.

For bird enthusiasts, Kaziranga is a paradise. The park is home to over 400 species of birds, including the rare Greater Adjutant Stork, Pallas’s Fish Eagle, and Black-necked Stork. Bird-watching tours can be arranged with local guides who have a keen eye for spotting birds.

Nature walks are also a great way to explore the park. These walks usually last for 2-3 hours and take visitors through some of the lesser-known areas of the park. Visitors can observe the flora and fauna of the park up close, and even spot some rare species.

Cultural activities such as visits to local villages, tea gardens, and silk weaving centres can also be arranged. These activities provide visitors with a glimpse into the local culture and way of life.

Accommodation options near Kaziranga National Park

Kaziranga National Park offers a range of accommodation options to suit different budgets and preferences. Visitors can choose from resorts, eco-lodges, homestays, and camping options.

The government-run tourist lodges are the most affordable option and offer basic facilities. The private resorts and eco-lodges provide more luxurious accommodations and amenities such as swimming pools, spas, and restaurants. Some of the popular options include the Wild Grass Lodge, Infinity Kaziranga Wilderness, and the Iora Resort.

Homestays are a great way to experience the local way of life and hospitality. Visitors can choose from a range of options such as bamboo huts, cottages, and traditional Assamese houses. Some of the popular homestays include the Ghorakati Guest House, Dhansiri Eco Camp, and Bonani Lodge.

For those who want to experience the thrill of camping, there are several camping options available. Visitors can choose from pre-set campsites or opt for mobile camping where the campsite is set up in a different location each night. Some of the popular camping options include Diphlu River Lodge and Nature Hunt Eco Camp.

ALSO READ |Bean to Brew: Discovering the top coffee plantations to visit in Kerala

Tips for Visiting Kaziranga National Park

Dos and Don’ts:

• Do follow the rules and regulations of the park.
• Don’t litter or disturb the wildlife.
• Do listen to your guide and stay within designated areas.
• Don’t carry plastic or non-biodegradable materials into the park

Safety Precautions:

• Always stay in the vehicle or designated area during the safari.
• Be aware of the surroundings and follow the instructions of the guide.
• Avoid getting too close to wild animals.
• Carry essential medications and a first aid kit with you.

Responsible Tourism:

• Choose eco-friendly accommodations and activities that promote conservation.
• Respect the local culture and traditions.
• Support local communities and businesses.
• Minimize your impact on the environment.

Kaziranga National Park is a must-visit destination for wildlife enthusiasts and nature lovers. With its rich biodiversity, unique landscape, and cultural significance, it offers a one-of-a-kind experience. From getting up close and personal with the endangered one-horned rhinoceroses and elephants to exploring the vibrant birdlife and scenic beauty, there is something for everyone. By following the tips and guidelines mentioned in this guide, you can make the most of your trip to Kaziranga and contribute to its conservation efforts.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

With 41% gains this year so far, this auto component manufacturer is at a 52-week high

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Auto ancillaries company JBM Auto’s shares gained over 4.5 percent to end at a fresh 52-week high of Rs 734 on Thursday. The auto parts company’s stock has surged 41 percent so far in 2023, and nearly 39 percent in the past 12 months.

At the latest 52-week high value, the company’s shares have surged 102.41 percent from its last 52-week low level of Rs 361.7 on September 28, 2022.

Earlier in January, JBM Auto launched its first self-designed and self-manufactured electric luxury coach called ‘Galaxy’ at the Auto Expo 2023, along with showcasing its new series of e-buses, comprising not only city buses but also school buses.

“JBM group is the only player in the Indian market to offer an entire EV ecosystem and is committed to investing in green mobility solutions,” said Nishant Arya, Vice Chairman of JBM Auto.

In the December quarter, JBM Auto reported a consolidated net profit of Rs 34.33 crore, rising slightly by 3.81 percent on a year-on-year basis from Rs 33.07 crore posted in the same quarter last year.

Its net sales rose by 16.05 percent to Rs 953.05 crore compared to Rs 821.24 crore last year, while its EBITDA of Rs 114.75 crore was 21.92 percent higher than Rs 94.12 crore observed in the year-ago period.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Global stocks dither, bonds steady as recession worries weigh

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Global stocks drifted on Thursday and US Treasury yields hovered near multi-month lows as traders awaited crucial US jobs data that may add to mounting concerns about a global economic slowdown.

As equity investors avoid strong bets, ahead of the Good Friday holiday when the market-moving monthly US  non-farm payrolls report will also be released, the broad MSCI index of world stocks traded flat.

Europe’s Stoxx 600 share index added 0.3%, boosted by data showing German industrial output rose significantly more than forecast in February. But recession fears weighed on US stock futures and crude oil.

US Nasdaq E-mini futures pointed to a 0.5% drop at the New York open after the tech stock benchmark slumped 1% overnight. E-mini futures for the broader S&P 500 slipped 0.1%, following Wednesday’s 0.25% slide.

Also Read: Gold hits record high on weak US economic data

Following the US Federal Reserve’s most aggressive cycle of interest rate hikes in decades, to battle stubbornly high inflation, traders are now positioning for the central bank to turn much more dovish.

Data overnight showed US private employers hired far fewer workers than expected in March, adding to signs from earlier in the week of a loosening labour market. The country’s services sector also slowed more than expected, while earlier figures showed a stalling at factories as well.

“What we’re seeing this week is those rate hikes having an impact on the broad economy for about the first time,” Roger Lee, head of UK equity strategy at Investec, said. “The market is extrapolating this recent data for the conviction that there is going to be a U.S. recession imminently.”

Economists polled by Reuters expect to see US employers added 240,000 new workers in March, down from 311,000 the previous month. Average earnings growth is also expected to have slowed to 4.3% year-over-year, from 4.6% in March.

Money markets now see the odds of a further quarter-point hike at the May meeting versus a pause as a coin toss. And 74 basis points of easing are priced in by year-end.

Also Read: World Bank lowers India’s FY23-24 GDP growth forecast to 6.3% from 6.6% earlier

“Investors should not rush to buy the pivot, as when the Fed cuts rates, it is too late to prevent a recession,” Barclays chief European equity strategist Emmanual Cau said.

Treasury yields, which move inversely to prices of the debt securities, have fallen far in recent weeks as traders added risk in bond markets instead of equities.

The yield on the 10-year note stood at around 3.29% on Thursday morning in London, sticking close to the nearly seven-month low of 3.266% reached overnight.

Germany’s 10-year bund yield, a benchmark for Eurozone borrowing costs, added 2 basis points to 2.2%.

This German yield now stands far below its level of about 2.7% from early March, before the failure of two U.S. banks and Credit Suisse’s rescue by UBS sparked concerns about banks lending cautiously to safeguard capital, potentially harming growth.

Also Read: China’s services activity surges to more than two-year high

The dollar index was steady against other major currencies at 101.84, bumping around a two-month low.

Spot gold slipped 0.1% from a one-year high reached on Wednesday, to $2,019 per ounce, but remained more than 2% higher for the week.

Oil was also under pressure, despite a surprise output cut decision by OPEC+ producers at the weekend. Brent crude, the global benchmark, was off 0.3% at $84.76 a barrel.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Argentina reclaims top spot in FIFA rankings after six-year hiatus

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In a thrilling turn of events, Argentina on Thursday has taken back its position at the top of the FIFA rankings, dethroning the reigning champions, Brazil. It has been six long years since Argentina held the coveted No. 1 spot, and the achievement is a testament to the team’s hard work and dedication.

The triumph came after Argentina won last year’s World Cup in Qatar by beating France in the final. Additionally, Lionel Scaloni’s side beat Panama 2-0 and Curacao 7-0 in friendlies, securing their place at the top of the rankings.

The shift in rankings saw France move up to second place after their impressive wins against the Netherlands and Ireland in the Euro 2024 qualifiers. Brazil, on the other hand, slipped to third place after a shocking loss to Morocco in a friendly match.

Also read: RCB to Retire Jersey Numbers 17 and 333 as a Tribute to AB de Villiers and Chris Gayle

Belgium remained in fourth place, while England and the Netherlands swapped places, with England moving up to fifth and the Netherlands slipping down to sixth place. Croatia held on to the seventh spot, and Italy moved up to eighth place. Portugal and Spain completed the top 10, rounding out a list of the world’s best teams.

One of the most significant movers in the latest rankings was the Central African Republic, who jumped an impressive ten places to 122nd. The team’s performance showed their potential to make a mark on the international stage.

Also read: Lionel Messi honoured with a statue that stands next to Maradona and Pele figurines

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Netflix travel documentaries: Revisiting the classics

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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If you’re a travel enthusiast and a Netflix addict, you’re in for a treat. The streaming giant has an extensive collection of travel documentaries that are both inspiring and entertaining. From exploring remote islands to walking across continents, these documentaries offer a glimpse into the lives and culture of people around the world. In this blog post, we revisit some of the best travel documentaries on Netflix that are timeless classics.

“A Map for Saturday” – Backpacking around the world “A Map for Saturday” is a documentary about a man named Brook Silva-Braga who quits his job and backpacks around the world for a year. He documents his experiences and encounters with fellow backpackers, locals, and new cultures. This documentary is a must-watch for anyone who dreams of quitting their 9-5 job to travel the world.

“The Art of Travel” – This documentary follows the journey of two friends who set out on a slow travel adventure across Europe. They explore the continent by train, taking in the sights, sounds, and tastes of each destination they visit. This documentary is a great reminder to slow down and enjoy the journey, rather than just rushing to the destination.

Also read | Long weekend: How to make the most of the extended break in Bangalore

“Long Way Round” – Motorcycling across continents “Long Way Round” is a documentary about actors Ewan McGregor and Charley Boorman who embark on a 20,000-mile motorcycle journey across Europe, Asia, and North America. The duo faces numerous challenges along the way, but their journey is a testament to the power of human resilience and determination.

“The Endless Summer” – Surfing around the world “The Endless Summer” is a classic documentary about two surfers who travel the world in search of the perfect wave. The film takes the audience on a journey through some of the most beautiful beaches and surf spots around the world. Even if you’re not a surfer, this documentary will make you want to pack your bags and hit the waves.

“Departures” – Immersive travel experiences “Departures” is a Canadian travel documentary that follows the journey of two friends who set out to explore the world and immerse themselves in new cultures. The show captures their experiences and interactions with locals, providing a unique perspective on the destinations they visit. This documentary is a great reminder that travel is about more than just sightseeing – it’s about connecting with people and experiencing new things.

These travel documentaries on Netflix are classics that offer a fresh perspective on travel and adventure. Whether you’re planning your next trip or just looking for some inspiration, these documentaries will transport you to different corners of the world and leave you with a sense of wonder and amazement. So, grab your popcorn and get ready for a journey like no other.

Also read | Goa and Bangkok — India’s top favourite destinations for summer vacation this year

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

National Pension Scheme, Atal Pension Yojana subscribers cross 1.35 crore in FY23

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The total enrollments under various schemes under National Pension System (NPS) and Atal Pension Yojana (APY) have crossed 1.35 crore during financial year 2022-23, Pension Fund Regulatory and Development Authority (PFRDA) said in a statement on Thursday. With cumulative enrollment of over 10 lakh subscribers, NPS private sector- comprising NPS All Citizen and NPS Corporate- accounted for about 60 percent, the fund regulator said.

The number of subscriber enrollments under Atal Pension Yojana (APY) was 119.31 lakh, it said.

Here are the number of subscriber enrollments in various schemes under National Pension System and Atal Pension Yojana (in Lakh):

NPS is a government-run investment scheme that gives the subscriber the option to set the preferred allocation to different asset classes.

NPS offers two kinds of accounts — Tier 1 and Tier 2 — for instruments including government bonds, equity market, and corporate debt. While the Tier 1 NPS account is strictly a pension account, the Tier 2 account — known as an investment account — is voluntary savings account associated with the Pension Regulatory Authority of India (PRAN).

APY, on the other hand, is a guaranteed pension scheme for Indians that focuses primarily on those working in the unorganised sector. Under this, an investor receives a minimum guaranteed pension of Rs 1,000 to Rs 5,000 per month from the age of 60 years, depending upon his/her contribution.

The same pension is paid to the subscriber’s spouse after the subscriber’s demise, and on the demise of both the subscriber and spouse, the pension wealth accumulated till age 60 of the subscriber is returned to the nominee.

The contribution to the scheme can be made monthly/quarterly/half yearly basis.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow