'We have been following the micro-change philosophy, where every six weeks we implement these AI features into our internal systems, products, platforms and then release it to our employees.'
Public sector banks (PSBs) have seen a sharp drop in household deposits from 70.6 per cent to 63 per cent in contrast with private banks, which witnessed a surge from 27.1 per cent to 34.1 per cent.
Chartered accountant Nitin Kaushik's message to India's young workforce is clear: spend smart, save smarter and let money serve your goals.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Master the online ITR filing process and then learn the differences between the old and new tax regimes to pick your best option.
Now that the National Pension Scheme offers more choices than the Employees Provident Fund, is more transparent and also allows to choose the level of allocation to equities as investors like, should one switch to the NPS?
Given its features as a retirement product (long lock-in and compulsory annuitisation), investors should have other investments they can fall back on in case they need funds
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The raising of the entry age in NPS has opened up an attractive new investment avenue for senior citizens, says Arnav Pandya.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
A six-point comparison by Anil Chopra, Group CEO & Director, Bajaj Capital
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Tax experts answer your budget-related queries
'The increase in the limit for TDS on interest to Rs 1 lakh will ensure greater cash flow in the hands of senior citizens.'
Since NPS is used for a long-term goal like retirement, allowing younger investors to have higher exposure to equities will give them a chance to earn higher returns.
Raise in NPS entry age gives seniors another retirement-saving option but they should invest at least Rs 50,000 to avail of the additional tax benefit scheme provides, reports Sanjay Kumar Singh
Restrict investment to Rs 50,000 for tax benefits, experts tell Sanjay Kumar Singh, but caution that taxation at maturity and compulsory annuities are dampers.
Rationalisation in taxation on the retirement scheme puts significant money in the hands of investors.
Raising equity exposure to 50 per cent in the National Pension Scheme will benefit young investors, provided they can stomach higher volatility.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Use a combination of the two options without which sufficient corpus can't be assured.
The Supreme Court on Monday directed uniform pension benefits for all retired high court judges, irrespective of their mode of appointment or tenure, saying "one rank one pension has to be the norm in respect of a constitutional office".
Reduction in the mandatory minimum contribution and extension to invest in the scheme from 60 years to 70 years has made the National Pension Scheme more friendly, says Anil Chopra, Group CEO & Director Bajaj Capital
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Many affluent young people are first-generation wealthy. They have limited financial literacy, lack quality financial guidance or role models, and often fall prey to mis-selling. This makes them hesitant to invest in high-return assets like equities.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
At a time when banks are finding it challenging to mobilise resources, State Bank of India (SBI)-the country's largest lender-has devised a three-pronged strategy to boost deposit accretion. First is an aspirational product that promises to make depositors lakhpatis by helping them grow their deposits to Rs 1 lakh through recurring deposit (RD) schemes.
The National Pension System is applicable for government employees joining the service after April 1, 2004. It was based on the premise of contribution rather than defined benefit applicable for employees prior to the NPS.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The National Pension System (NPS) added 21.5 per cent fewer fresh subscribers under the corporate segment in 2023 compared to the preceding year. Government officials and experts attribute it to the higher exemption limit of income tax of Rs 7 lakh announced in the FY24 Budget that no more requires employees under this income bracket to opt for NPS for tax-saving purposes. Data collated from the Ministry of Statistics and Programme Implementation (MoSPI) reveals that the corporate component is voluntary in nature and saw 158,212 new subscribers in 2023 compared to 201,517 during 2022.
'The adjustments (of tax slabs and standard deduction) will reduce the tax burden for salaried individuals with an income of around Rs 20 lakh by approximately Rs 18,000.' 'For non-salaried individuals with the same income level, the savings will be around Rs 10,000.'
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The pension fund managers distribute products under the National Pension System.
