Two new fund offers or NFOs are currently open for subscription in the market. An ELSS fund and a thematic fund are open for subscription. The market was flooded with NFOs till a month ago as mutual fund houses were busy launching passive or index schemes, or trying to complete their bouquet of offerings. However,…
State Bank of India has announced its latest marginally linked marginal cost of lending rates (MCLR) following other banks, SBI has also kept the rates unchanged. Many banks including ICICI Bank, Union Bank, Bank of Baroda have kept their MCLR rates unchanged following the RBI, as it kept the repo rate unchanged in its April…
Under its “Sugam Term Deposits” scheme, Punjab National Bank (PNB) allows depositors to withdraw any amount before maturity. This can be done without breaking the entire deposit and without losing interest on the remaining deposit under the scheme. However, the interest rate will vary depending on the slab that the FD amount falls in as…
Nine disadvantages of investing in FDs: When it comes to investing in India, bank fixed deposits (FDs) continue to be the most popular investment option. The majority of Indians routinely choose to invest in them. The rising FD interest rates since May 2022 have also made it a great investment option. Not only salaried class,…
The three major government-backed retirement plans, Employee Provident Fund (EPF), Voluntary Provident Fund (VPF), and Public Provident Fund (PPF), operate differently in terms of interest rates, taxation, and withdrawal guidelines. Your unique financial objectives, eligibility, and circumstances all play a role in selecting the best provident fund programme. Generally speaking, EPF and VPF are excellent…
Taxpayers must submit an income tax return to the government, commonly once a year, in order to disclose their earnings, deductions, and tax liabilities. Filing ITR allows you to calculate the amount of tax due to the government or the prospective tax refund from tax-saving investments. After filing your income tax return, you can employ…
Section 80G of the Income-tax Act, 1961 allows taxpayers to claim deductions for their monetary donations to eligible charitable institutions. However, claiming this deduction while filing income tax return (ITR) can be tricky. Therefore, it is essential for taxpayers to keep some key points in mind while claiming this deduction at the time of filing…
The Uttar Pradesh government will make Aadhaar cards mandatory for Class 10 and 12 students from 2024. Officials have already started the process of authenticating the 12-digit unique identity numbers for the current batch of students. It will also be certified for those students taking admission in class 9 and 11. The move is intended…
WhatsApp is now compatible with Google’s Wear OS. According to a report by WaBetaInfo, smartwatch app for WhatsApp is now available, allowing users to stay connected and access their chats and messages directly from their smartwatch. As per the report, the feature is available to select users after installing the latest WhatsApp beta for Android…
Finance Minister Nirmala Sitharaman, during the 7th Meeting of the Financial Stability and Development Council (FSDC), asked regulators to conduct a special drive to facilitate the settlement of unclaimed deposits and claims in the financial sector across all segments, such as banking deposits, shares, and dividends, mutual funds, insurance, etc. Addressing the issue of unclaimed…