Many senior citizens 'underestimate the impact of inflation, taxation, health-related expenses, and the heavy premium they will have to pay on health insurance.'
The move by the second largest private sector lender will give better returns on fixed deposits, but will also make loans more expensive for existing customers.
FOMO-driven investing is reshaping India's stock market. Swati Saxena explains how social media hype fuels risky bets and how to protect your wealth.
'Choose an equity allocation that will allow you to remain invested even if the market falls by 50 to 60 per cent.'
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Crorepatis build wealth through disciplined saving, smart investing, and strategic risk-taking, proving that true financial freedom is earned, not inherited, says Ramalingam Kalirajan
If the gift is received from a relative, there is no tax implication. But if the gift is received from a non-relative and exceeds Rs 50,000 in value during a financial year, the entire value of the gift is taxable.
The weakening of inflation, prospects of economic growth, geopolitical uncertainty and comfortable system liquidity may result in the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) to cut the repo rate by another 25 basis points, opine top economists. They also said the external economic pressures like trade policies and others would require continued RBI's accommodative stance and policy support for the Indian industry to sustain the growth.
While FMPs no longer offer the same short-term advantage, it is still a good product for the medium term.
Here's a formula that helps you understand how much money you will need to retire early in India and simple steps to achieve it.
Senior citizens and others depending upon income from bank fixed deposit (FD) schemes will be at the receiving end with the retail inflation exceeding the interest rates. The Reserve Bank of India (RBI) in its latest monetary policy review has projected retail inflation at 5.3 per cent for the current financial year. Last week, the RBI said that the Consumer Price Index (CPI)-based inflation is now projected to be at 5.3 per cent for 2021-22 with risks evenly balanced.
DAP does not consider past I-T returns to match a taxpayer's resources with their expenditures or investments, points out Harsh Roongta.
Avoid discontinuing your SIPs. Persist for at least 7-10 years.
Payments banks are expecting to get the rights to offer small-ticket loans sometime soon, according to an industry source familiar with the matter. The industry has been in talks with the Reserve Bank of India (RBI) for some time in seeking lending rights.
In a double-dose bid to boost growth and employment prospects, the Union Cabinet on Tuesday approved a Rs 2.07 trillion outlay for a research development and innovation (RDI) Scheme to fund private sector innovations, and an employment-linked incentive (ELI) to create over 35 million new jobs over the next two years.
Do not keep a large portion of your long-term portfolio in FDs.
Here's how NRIs can protect their overseas earnings from exchange rate risk.
The Reserve Bank has revoked the deposit-taking status of Dewan Housing Finance (DHFL), the first financial services firm to go for bankruptcy proceedings, and has reclassified it as a non-deposit taking housing finance company, before approving the Piramal group's bid to take over it towards the end of the resolution process. The revelation comes in the June 7 NCLT Mumbai order that has approved the Rs 35,250-crore bid for the once second largest mortage lender by Piramal Capital & Housing Finance, forcing over 65 per cent haircut on the creditors and just Re 1 to its NCD holders to whom it owes more than Rs 45,000-crore. On the 14th page of the 86-page NCLT order by HP Chaturvedi and Ravikumar Duraisamy, it says DHFL no longer is a deposit taking NBFC but a non-deposit taking one.
Flipkart-backed fintech firm super.money is aiming to be among the top five players on the Unified Payments Interface (UPI) leaderboard by the end of this year, a senior company executive has said. The company, which rolled out its beta version in June this year, has processed about 10 million transactions till date. "We have a target of 100 million transactions for the end of the year.
If you fail to make the lump sum deposit before April 5, do so at least before the 5th of the next month (May). That way you will only lose out on the interest for April.
'With tuition fees for international students rising, education loans have become critical for bridging the gap between savings, scholarship, and full cost.'
Avoid discontinuing your SIPs. Persist for at least 7-10 years.
'PPF carries minimal risk.' 'Its fixed-income nature allows investors to diversify their portfolios.'
Flipkart-backed super.money is on an expansion spree and plans to expand its range of offerings in credit and wealth management after launching its operations in July this year. The Bengaluru-based fintech company is on track to roll out credit products such as credit on Unified Payments Interface (UPI), unsecured credit cards, and personal loans within the first half of the next calendar year (2025).
IDBI has increased the interest rate on Non-Resident External and Foreign Currency Non-Resident fixed deposit for various maturities with effect from November 1, 2005.
The recent default on deposit payments by a couple of Yash Birla Group companies has brought to surface difficulties an investor has to face in recovering his money.
Despite Sebi passing at least four orders against deposit-taking entities in the past year alone, the business seems unscathed
'There has been a change in the advances mix, with the share of corporate loans decreasing.'
The Reserve Bank Officers Cooperative Credit Society, which caters to the credit needs of RBI officers posted all over India, has a fixed deposit of Rs 105 crore in the bank on which the RBI has placed various curbs for six months following revelations of irregularities.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
Senior citizens of 75 years and above having pension income and interest from fixed deposit in the same bank would not be required to file income tax returns for the financial year beginning April 1.
Shriram Finance's (SHFL's) profit after tax (PAT) rose 10 per cent year-on-year (Y-o-Y) to Rs 2,140 crore in the fourth quarter of the financial year 2024-25 (Q4FY25).
When evaluating bonds, returns shouldn't be the sole factor. Pay close attention to the bond's credit rating. It should ideally be AA or higher.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The FM also proposed that the maximum deposit limit for Monthly Income Account Scheme will be enhanced from Rs 4.5 lakh to Rs 9 lakh for a single account and from Rs 9 lakh to Rs 15 lakh for a joint account.
'If equities perform well in a year, withdraw money from equities. If the equity market is down, shift withdrawal to the debt portion.'
ICICI Bank's new offer is for those with savings in fixed deposits but no immediate liquidity
Long-term tax-saving FDs can also be considered after the PPF limit has been exhausted.
Weird as it may sound, as far home loans in India are concerned, floating can be fixed and fixed can be floating.
