For the first four months of fiscal year 2024-25 (i.e., April-July 2024), the fiscal deficit is at much lower levels than typically observed trends (Table 1). The cumulative fiscal deficit during April-July has declined by 54% this year compared to the same period last year and is just 17% of the budgeted deficit for the … Read more
Finance Minister Nirmala Sitharaman will launch the much-awaited NPS Vatsalya Scheme on Wednesday, September 18. This initiative, introduced in Budget 2024, aims to financially secure the future of children by encouraging guardians to invest in a pension account on their behalf. The plan will be unveiled at an event in New Delhi at 3 pm, … Read more
Finance Minister Nirmala Sitharaman is set to launch on Wednesday what will be a special National Pension Scheme (NPS) that will allow parents or guardians to make contributions on behalf of their minor children. The NPS Vatsalya scheme will be operated by the Pension Fund Regulatory and Development Authority (PFRDA), the country’s pension fund regulator. … Read more
6 minutes reading time Last update: September 18, 2024 | 9:00 am IS The number of ultra-rich individuals, known as centi-billionaires (those with investable liquid assets of $100 million or more), has increased by 54% over the past decade. According to the Centi-Millionaire Report 2024 published by Henley & Partners, there are currently 29,350 centi-billionaires … Read more
Bandhan Bank has increased its fixed deposit (FD) interest rates, now offering up to 8.55% on one-year deposits, as the bank looks to attract more depositors amid a competitive financial landscape. Details of new FD rates for senior citizens and general customers Senior citizens will benefit the most from the new rates, with Bandhan Bank … Read more
To widen the base of individual investors to opt for mutual funds as an investment option, the SEBI chairman, at an event organised by SBI Mutual Fund, said that micro SIPs will soon be launched in India. These micro SIPs in mutual funds can be started for as little as Rs 250 per month. Essentially, … Read more
As a parent, you know that providing your child with the best education possible is a priority. However, with education costs rising faster than overall inflation (around 11-12% compared to 5-5.5% for other goods, according to Bank Bazaar), funding your child’s academic journey can be a challenge. Education loans have emerged as a useful option … Read more
After a good raise, most salaried people look forward to having their previous arrears credited. However, there is a problem, as their income also increases and they have to pay tax This delay may increase your net tax expense in the year you receive the delays. This is because, income tax Salaried income tax is … Read more
Groww Mutual Fund has announced a key change in the exit load structure of two of its index funds – Groww Nifty Smallcap 250 Index Fund and Groww Nifty Total Market Index Fund. From 20 September 2024, an exit load of 0.25% will be charged if investors redeem their units within 7 days of investment. … Read more
3 minutes reading time Last update: September 17, 2024 | 1:17 PM IS Now, Indians looking to simplify payments for their children’s education abroad have a new option. HSBC India on Monday launched its Global Education Payments service, which allows customers to pay tuition fees directly to more than 600 international universities through its mobile … Read more
