RBI has once again issued a circular reminding the banks about the instructions for offering certain basic banking services to senior citizens at their doorstep.
With the Indian economy suffering heavily due to nationwide lockdown, equity markets have nosedived and interest rates on small saving schemes have been cut substantially.
The Finance Act received Presidential assent on 27 March 2020. It contains the tax proposals for FY 2020-21, which would be incorporated in the Income-tax Act, 1961.
Investors should continue to invest in small savings schemes as the interest rates are still higher than that of bank FDs. They should look at tax-free bonds and avoid company deposits.
Earlier, the EPFO allowed its subscribers to withdraw three months basic pay and dearness allowance as non-refundable advance on the ground of COVID-19 lockdown from March 28, 2020.
Fund managers infused Rs 71 crore in real estate investment trusts (REITs) and Rs 909 crore in infrastructure investment trusts (InvITs) in January this year, according to the Securities and Exchange Board of India (Sebi).
Insurance Regulatory and Developement Authority of India (Irdai) has already provided additional time for payment of renewal premium in case of health insurance policies and motor third party insurance.
While the concept of making payments with just a click sounds great, it also comes with a few issues such as transferring money to a wrong account or failed transactions.
As lenders consider numerous factors while calculating home loan interest rates, being aware of those factors can help get the most suitable deal with the lowest interest cost.
Due to the lockdown to contain the spread of Coronavirus Covid-19, the bookings with travel dates from March 25, 2020 till April 14, 2020, will automatically get cancelled.
After completing 15 years, account holders have 2 options: they can either extend the PPF account with fresh contributions or extend the PPF account with no fresh contributions. Experts suggest, before withdrawing on maturity, know the PPF rules that may be of help to you.
The RBI announcement has come as much-needed succour for borrowers who may face liquidity issues in the wake of the pan-India mandated lockdown amid the pandemic. But what does it entail?
SCSS interest income: In the wake of deep cuts in interest rates of small savings schemes, the SBI Research has suggested the government to make interest income on Senior Citizen Savings Scheme (SCSS) completely tax-free
The additional benefit offered by Tata AIA, wherein they will offer additional benefit equal to the base sum assured or Rs 5 lakh whichever is lower for valid death claims due to coronavirus.
The facilities that apartments provide these days may require huge monthly investment in independent floors apart from the pain of taking stock of everything on a daily basis.
The repayment schedule for such loans will shift by 3 months after the moratorium period and it includes all principal and interest payments. The interest for this period will continue to accrue on the outstanding portion of credit card dues as well as term loans during the moratorium period.