Sukanya Samriddhi Yojana (SSY): Empower The Girl Child

Sukanya Samriddhi Yojana (SSY)
Sukanya Samriddhi Yojana (SSY) is a deposit/investment scheme for Girl Child. It is a Government initiative started vide notification dated 02.12.2014 under the Beti Padhao Beti Bachao (Save and Educate Girl Child) campaign keeping in mind the welfare and educational needs of a girl child. The Scheme is aimed at empowering the girl child, encouraging Parents/Guardian to invest towards their daughter/s future, enabling them to go for higher education or meet any other financial obligations arising later. Government has amended…

Pension Calculation Under Employees’ Pension Scheme (Series-3)

Pension Calculation under Employees’ Pension Scheme (EPS)
Employees’ Pension Scheme (EPS) was introduced to provide pension cover to EPF Subscribers on attaining the age of 58 years. However, the amount of pension is determined based on the pensionable service and contribution period of the Subscriber, subject to minimum pension of Rs 1,000/- per month. I have already posted article on Benefits available under the Employees’ Pension Scheme. In this post I will discuss the process related to Pension Calculation. One may refer to my earlier posts related to…

Economy: Inflation, IIP Figures and More!!!

Inflation
Inflation figures for Retail and Wholesale headed in different direction as per the latest data released for the previous month, Retail Inflation slowed to 12 month low, whereas Wholesale Inflation touched 4 month high. The difference is attributed to rise in crude prices and rupee depreciation impacting the Wholesale Inflation while moderation in Food prices helped Retail Inflation to cool off. This is due to higher weightage associated with Food items in the Retail Index. Monetary Policy Committee (MPC) may…

Kisan Vikas Patra (KVP): All You Need To Know

Kisan Vikas Patra (KVP)
Kisan Vikas Patra (KVP) is a guaranteed return certificate scheme re-introduced in 2014. The scheme is mainly targeted at the Individuals who do not have access to proper banking facilities and financial intermediaries. Another reason for re-introduction of KVP is to dissuade lower income group individuals from falling for any ponzi schemes and losing their hard earned money. The features offered is identical to other Savings Scheme offered by the Government but with tweaks in the rate of interest, tenure…

Digital Banking: Emergence Of Payment Banks

Payment Banks
Technology has transformed the way one banks or carries out business transactions. Fintech has played an important role in the evolution of the Financial Services industry. Digital Banking is fast becoming the preferred mode of operation among the millennial. It not only reduces cash based transaction but also leads to greater transparency and accountability, benefitting the economy as a whole. This brings us to the whole new concept of Payment Banks. In absence of a structured banking system and non…

Mi Pocket Speaker 2: Budget Bluetooth Speaker

Mi Pocket Speaker 2
Mi (Xiaomi) has introduced the Mi Pocket Speaker 2 in India, a compact budget end speaker. The new Bluetooth speaker has been priced at Rs 1,499/-, currently available on Mi India portal and Flipkart. Mi Pocket Speaker 2 is available in two colours, Black and White. The latest speaker comes with 1200 mah battery which is expected to provide continuous playback for 7 hours on single charge. Mi India has also launched an even more compact version & economical Bluetooth…

Small Savings Schemes Interest Rates Revised For 3rd Quarter (October-December) Of Financial Year 2018-19

Small Savings Interest Rates FY 2018-19
Government has revised the interest rates on popular Small Savings Schemes for the 3rd Quarter of the Financial Year 2018-19. The news is definitely going to delight the investors, as the rates have been raised across popular small savings schemes by up to 40 basis points. Previously, Government had decided to align the small savings interest rates with the relevant market rates of Government Securities. The rates are now recalibrated every quarter in order to maintain it at par with…

“Start Financial Planning”: Online Account For Investment

Online Investment Platform
Individuals new to the “Financial Planning” are often unsure about the manner in which they can start investing. Thus, majority rely on their friends, family members, or colleagues for investment advice. The idea is not bad but opting for an expert advice is always recommended when it comes to investment. In my previous post I had discussed about the Online Financial Planning, the manner in which it assists Individuals with their “Investment Plans”. In this post I will discuss, the…

Online Financial Planning: Simple & Easy Step Towards Smart “Financial Planning”

Geojit Online Financial Planning
“Lack of Investment Strategy along with undefined financial objectives is hampering your Financial Planning?” Well, most of the Individuals are often confused when it comes to investment decision. This is largely due to the fact that many of the investors lack the expertise when it comes to choosing the right investment strategy, leading to bad investment decision. Hence, it is important for an Investor to get an expert guidance which would help them choose the ideal investment strategy to accomplish…

Mutual Fund Taxation-Capital Gains

Capital Gain Mutual Fund Tax
Capital Gain Tax is levied on transfer (sale) of Capital Assets. Investment in Mutual Funds is ideally done with the aim to earn decent returns which would enable Investors to meet future financial objectives. Capital Gain Tax on Mutual Fund gain is levied as per the provisions under the Income Tax Act. In this article we would try and understand the Mutual Fund Taxation-Capital Gains and Tax Implications. Classification of Mutual Funds (Long or Short Term Gains) Capital Gain may…