Planning for retirement is essential to ensure financial stability in your later years. Investing in either a lump sum or monthly SIPs over the long term can yield substantial returns, thanks to the power of compounding. Let’s explore how a one-time investment of ₹5 lakh can grow into a ₹1.5 crore corpus over 30 years. …
The Odisha government has unveiled a monthly pension scheme of ₹20,000 for individuals who were imprisoned during the Emergency period between 1975 and 1977. This financial assistance will also include coverage for medical expenses, providing comprehensive support for eligible beneficiaries. The announcement was formalised through a notification issued by the state’s Home Department on 13 …
The Union Ministry of New and Renewable Energy (MNRE) has announced the implementation guidelines for the ‘Payment Security Mechanism’ (PSM) and ‘Central Financial Assistance’ (CFA) components under the PM-Surya Ghar: Muft Bijli Yojana. The scheme aims to boost the adoption of rooftop solar plants across India by offering innovative models for residential consumers. Two Models …
With the government encouraging the new tax regime by offering lower tax rates but removing popular exemptions like Section 80C, many taxpayers are rethinking their investment plans. Interestingly, 72% of taxpayers have already shifted to the new system, signalling a move away from traditional tax-saving strategies. However, some investments previously tied to Section 80C still …
The Employee Provident Fund Organisation (EPFO) has extended the deadline for activating Universal Account Numbers (UAN) and linking Aadhaar with bank accounts to January 15, 2025. This is mandatory to avail of benefits under the Employment Linked Incentive (ELI) Scheme. Initially set for November 30, 2024, the deadline was extended twice before the latest announcement. …
When purchasing property, it’s easy to focus on the listed price and forget about the additional costs that quickly add up. From stamp duties to registration fees, not to mention legal and administrative expenses, these hidden costs can increase the total cost of your property by as much as 12%. Understanding and budgeting for these …
Unified Payments Interface (UPI) has emerged as the most popular mode of payment for a variety of transactions, from shopping and paying taxes to loan EMIs. Throughout 2024, UPI added several new features to further simplify payments, broaden its global reach, and enhance user experience. As we step into 2025, these new UPI updates are …
The RBI (Reserve Bank of India) has updated the rules for fixed deposits (FDs) with NBFCs (Non-Banking Financial Companies) and HFCs (Housing Finance Companies), effective January 1. These changes simplify premature withdrawal options and enhance communication between financial institutions and depositors. Full Withdrawal for Small Deposits Deposits of up to ₹10,000 can now be fully …
Goa Chief Minister Pramod Sawant introduced the ‘Bima Sakhi Yojana’ in the state on Tuesday, aiming to provide “insurance for all.” Goa becomes the second state, after Haryana, to implement this initiative envisioned by Prime Minister Narendra Modi. Eligibility and Training The Bima Sakhi Yojana, launched by Life Insurance Corporation of India (LIC), targets women …
As per the Deloitte India report, Home loan borrowers and industry experts have expectations from the Union Budget 2025-26, hoping that Finance Minister Nirmala Sitharaman will address their long-standing demands for increased tax benefits. Despite the government’s focus on promoting the new minimal exemption tax regime, stakeholders are advocating for reforms to make homeownership more …
