Personal Finance

10 steps to achieve financial freedom

Independence Day Special : 10 Steps To Achieve Financial Freedom

by Revati Krishna • August 14, 2020

Shahrukh Khan once said, “Don’t be a philosopher or a teacher without being rich. Money is significant — earn it when you can.” There have been contrasting opinions on how important is money, finances and everything that comes with it. While one side of the world  says money can’t buy you happiness, the other side […]

how to get out of debt trap

Stuck In Debt Trap? Know How To Escape It Smartly

by Revati Krishna • August 14, 2020

A  loan can work wonders for you, a misjudged debt can lead you into a trap. Simply put, a debt trap is a situation where debt is almost impossible to repay because of high-interest payments, lower finances and multiple loans resulting in multiple EMI payments. However, debt can be tackled smartly if you educate yourself […]

RBI Monetary policy highlights

RBI Monetary Policy : Key Highlights

by Revati Krishna • August 6, 2020

The Reserve Bank of India left the repo rate unchanged at 4% in its monetary policy committee (MPC) meeting. The MPC maintains an accommodative stance. The reverse repo rate also stands unchanged at 3.35%. The members of the MPC voted unanimously in favour of the decision. With this meeting, the MPC completed four years since […]

economic relief package

Nirmala Sitharaman’s Economic Relief Package : All Key Announcements

by Revati Krishna • May 13, 2020

Finance Minister Nirmala Sitharaman on 13th May 2020, announced “reform-driven” steps under the Atmanirbhar Bharat Abhiyan Scheme. Rs 20 lakh crore has been allocated by the government for this scheme as a relief package for the economic losses that the country had to bear due to coronavirus. All the announcements were made over a period […]

SBI Cuts Lending Rates By 15 bps Across all Tenors

by Revati Krishna • May 7, 2020

State Bank of India (SBI) announced a reduction of 15 basis points in its marginal cost of lending rate (MCLR) across all tenors.  The one-year MCLR has now come down to 7.25% from 7.4% and the rate is effective from May 10, 2020, the bank said in a press release on 7th May. The bank […]

How to Change Your Mobile Number in Aadhaar Card

How to Change your Mobile Number in Aadhaar Card?

by Rohit Bhattacharya • May 7, 2020

Aadhaar is a 12-digit unique identification number issued by the Indian government to the resident citizens of India by taking a person’s biometric details like iris scan and fingerprints, and demographic information such as DOB and address. Keeping your Aadhaar updated is not only beneficial but is quite necessary to avail of a lot of […]

How to Link Aadhaar with Mobile Number Online

by Rohit Bhattacharya • May 6, 2020

Aadhaar Card is the unique identification card issued by the Government of India to all Indian citizens. The card carries a unique 12-digit number called the Aadhaar Number, based on the specific biometric and demographic data of each individual. Aadhaar Linking with your mobile number has become mandatory by the Government as per the order […]

RBI Extends Liquidity Support of Rs 50,000 Crores for Mutual Funds

by Revati Krishna • April 27, 2020

The Reserve Bank of India (RBI) announced a financial support package on April 27 (Monday) for mutual funds amid liquidity concerns after Franklin Templeton Investments wound up six of it’s debt funds and barred all redemptions. The package, also known as Special Liquidity Facility- Mutual Funds (SLF-MF), seeks to provide the mutual fund industry with […]

Reverse repo rate cut

RBI Announces Fresh Liquidity for Financial Institutions; Reduces Reverse Repo Rate

by Revati Krishna • April 17, 2020

Reserve Bank of India’s (RBI) governor, Shaktikanta Das, addresses the media to announce measures easing liquidity pressure on microfinance institutions, shadow banks and the banking industry. The RBI governor, in his second address to the media in a month’s time, announced three key measures to ease liquidity pressure on our banking institutions so that the […]

savings scheme interest rates revised

Government Revised Interest Rates for NSC, PPF and Other Small Savings Schemes

by Devyani Mishra • April 6, 2020

Government of India has released a memorandum revising the interest rates for Small Savings Schemes on March 31, 2020. This revision is for the first quarter of the financial year 2020-21 (from April-June 2020). The rates are revised for 12 different deposits and schemes. Details of the Revision Here are the details of the revised […]

tax saving deadline extended for FY 19-20

How Does the Extension of the Tax Saving Deadline for 2019-20 Affect You?

by Devyani Mishra • April 6, 2020

Government extended the deadline for making tax-saving investments for the financial year 2019-20 on March 31, 2020. This is good news for people who couldn’t make these investments earlier and avail tax deductions. However, people have a lot of questions and today, we will endeavor to answer a few to offer more clarity on the […]

ways women can prepare themselves before investing

7 Simple Ways Women Can Prepare Themselves Before Investing

by Devyani Mishra • March 6, 2020

It’s the year 2020 and the world of investments, particularly mutual fund investments is evolving at breakneck speed. With different schemes available to suit your financial goals, to the level of ease of the transaction process, investing is getting convenient by each passing day. While men have dominated the investment space for a long time, […]

how to apply for pmay

How to Apply for Pradhan Mantri Awas Yojana?

by Devyani Mishra • February 25, 2020

When it comes to life goals – owning a home is probably right at the top – no matter which strata of society a person belongs to. However, amidst the rising costs of living and starkly disproportionate growth in income, affordable housing seemed a distant dream for the urban poor and people with lower socio-economic […]

old vs new tax regime

Old Vs New Tax Regime : Which Is Better?

by Devyani Mishra • February 9, 2020

When it comes to the budget every year, one announcement that citizens eagerly await is reforms in income tax. Budget 2020 which was presented by finance minister Nirmala Sitharaman on 1st Feb ,did exactly that , announcing some drastic tax rejigs.  In a bid to simplify taxes and remove the dependency of citizens on tax […]

budget 2020 higlights

Budget 2020 Decoded : Key Highlights

by Devyani Mishra • February 2, 2020

The Union Budget 2020,  was presented today in the Lok Sabha by finance minister Nirmala Sitharaman on 1st February and saw many important announcements to strengthen various sectors. Let us see some of the sectors that were under consideration and the key highlights :- Financial Sector  10 Public Sector Banks (PSB) will be merged into […]

budget 2020 glossary

Budget 2020 Glossary : Key Terms To Know About The Budget

by Devyani Mishra • February 1, 2020

The first Union Budget of the decade will be  presented in the Lok Sabha by finance minister Nirmala Sitharaman. This also calls for brushing up and understanding a few terms related to the budget that will be frequently used throughout FM’s speech. Here is a glossary of commonly used terms when it comes to budget.  […]

economic survey

Budget 2020 : The Economic Survey And Its Highlights

by Devyani Mishra • February 1, 2020

The highly anticipated Union Budget for the fiscal year 2020-21 is set to be released by the Hon’ble Finance Minister Nirmala Sitharaman on 1st February 2020. Prior to this, an economic survey was released by the Chief Economic Advisor of India, which summarised the performance of India in 2018-19, showed effects of the previous budget, […]

indirect direct taxes

Budget 2020:What is the Difference Between Direct and Indirect Taxes

by Devyani Mishra • February 1, 2020

Collection of taxes in the fiscal year of 2019 is estimated to fall short by around Rs.2 million than the proposed target. So, the Indian economic sector is expecting Hon’ble Finance Minister Nirmala Sitharaman to declare an amnesty scheme for the various disputes regarding direct taxes and indirect taxes in the country on the day […]

concept of Fiscal Deficit

Budget 2020 : Understanding The Concept Of Fiscal Deficit

by Devyani Mishra • January 31, 2020

With just a day before the Union Budget announcement, one of the many terms that you will see pop up frequently is Fiscal deficit. The word ‘Fiscal’ means ‘related to the government’s revenue, especially taxes’ and ‘Deficit’ is defined as a ‘ shortage’, ‘difference’ or ‘an amount by which there is a shortfall’. Thus ‘Fiscal […]

Union Budget 2020

Budget 2020 Expectations – India : Things You Need to Know About The Union Budget

by Devyani Mishra • January 12, 2020

Finance Minister  Nirmala Sitharaman will be presenting the Union Budget of 2020 on 1st February. What the budget reforms have in store to curb the economic slowdown that has gripped our nation in the past year, is what most of us are looking forward to.  Needless to say, FM’s primary task would be centered around […]