Ahead of the highly anticipated 8th Pay Commission, the Union Cabinet has approved a salary revision for nearly 50 lakh Central government employees. The Central Pay Commissions, typically established once every decade, play a crucial role in evaluating and recommending changes to pay scales, allowances, and benefits for government employees, taking into account key economic factors like …
Have you ever wondered how long it takes to quadruple your investment? While the Rule of 72 helps you double your money, the Rule of 144 is its big brother, designed to help you determine the time required to multiply your investment by four. It’s a straightforward financial concept that even those new to investing …
On Thursday, January 16, 2025, Union Minister Ashwini Vaishnaw announced that Prime Minister Narendra Modi had approved establishing the 8th Central Pay Commission to review the salaries and benefits of central government employees. During a press conference in New Delhi, the union minister emphasised the importance of pay commissions in India’s post-independence history, noting that …
Banks are introducing attractive fixed deposit (FD) schemes for senior and super-senior citizens to help them maximise returns. Leading banks like SBI, HDFC Bank, and IDBI Bank have revised their FD rates to offer higher interest for individuals aged 60 and above, especially those over 80 years old. Top FD Interest Rates for Super Senior …
Fixed deposits (FDs) continue to attract risk-averse investors, with several banks in India offering interest rates of 8% or more. Notably, small finance banks dominate this space with higher rates compared to public and private sector banks. Small Finance Banks Offering High FD Rates Small finance banks provide some of the highest FD rates, making …
The Employees’ Provident Fund Organisation (EPFO) is set to roll out a major upgrade called EPFO 3.0, aimed at improving services for its over 7 crore members. Union Minister Mansukh Mandaviya confirmed that this new system will be launched by June and promises to make the entire process more efficient, seamless, and user-friendly. What’s New …
You must have heard about the success stories of India’s most successful and valuable startups, including Razorpay, CRED, Pine Labs, OYO, Acko, Swiggy, Dream11, Mobile Premier League (MPL), Livspace, Cars24, Cardekho, and Mobikwik. These companies have not only reshaped industries, raised billions in funding, but also created substantial employment. As the 3rd largest startup ecosystem …
For individuals aiming to build a substantial corpus over the next 15 years, Public Provident Funds (PPF) and Systematic Investment Plans (SIPs) emerge as popular long-term investment options. While PPF is a government-backed savings scheme, SIPs are market-linked investment plans. Both options cater to different risk appetites and financial goals, making it essential to understand …
Equity alternative investment funds (AIFs) in India have delivered an impressive pooled internal rate of return (IRR) of 21.5% between fiscal years 2013 and 2024, according to a news report released on Tuesday, January 14, 2025. This performance has solidified the importance and resilience of private markets in India’s investment landscape, particularly in the context …
Hurry, it is the last day to activate the Universal Account Number (UAN) and link Aadhaar to bank accounts under the Employment Linked Incentive (ELI) scheme. EPFO has set January 15, 2025, as the last date. It is crucial for employers to prioritise UAN activation and Aadhaar linkage, especially for employees hired in the current …
