Owning a home brings pride and satisfaction, but it is also the biggest financial obligation for the individual. The flurry of rate hikes by the RBI has pushed up home loan rates from 6.5% to 9% in the past 15 months. A 20-year home loan taken in April 2022 at 6.5% will now have to…

Petrol and diesel prices on Saturday, June 24, largely remained unchanged in India. In Delhi, petrol and diesel prices remained largely unchanged in New Delhi, Kolkata, Mumbai, Gurugram and Chennai. In Delhi, the price of petrol stood at Rs 96.72 a litre and diesel was at Rs 89.62 a litre. The petrol price in Mumbai…

Income tax return (ITR) filing: The due date for ITR filing for the financial year 2022-23 or for the assessment year 2023-24 is 31st July 2023. However, it is advisable to file one’s income tax return as soon as possible as it would enable an earning individual to get ITR refund at earliest possible time….

Many times, people mistakenly transfer money to the wrong bank accounts. What should I do if I sent money to the wrong bank account? Can it be retrieved? What is the process? An SBI customer recently faced the same issue and complained about it on SBI’s official Twitter handle. “Dear @TheOfficialSBI I made a payment…

The Life Insurance Corporation of India (LIC) has launched a new insurance plan — Dhan Vriddhi on June 23, 2023. It is a non-linked, non-participating, individual, savings, single premium life insurance plan which offers a combination of protection and savings, the insurer mentioned in a press release. LIC Dhan Vriddhi plan provides financial support for…

Many employees and pensioners who are eligible to apply for higher pension from the Employees’ Pension Scheme (EPS) are complaining on Twitter that they are unable to submit their application forms. This is happening when there are less than four days left to submit the applications for higher pension. The Employees’ Provident Fund Organisation (EPFO)…

The Insurance Regulatory and Development Authority of India (Irdai) has allowed insurance companies to launch individual & group unit-linked life and health insurance products and combi products without seeking prior approval from the regulator. In a circular released on June 20, 2023, the regulator adds additional categories to the existing ‘use and file’ procedure for…

The Central Board of Direct Taxes (CBDT) has issued a notification specifying the process consultants, professionals – having business income– should follow to continue with the old tax regime from the current financial year, i.e., FY 2023-24. The change in the process has been introduced as from this financial year, the new tax regime has…