Is Aadhaar mandatory for investment in small savings schemes such as Senior Citizen Savings Scheme, PPF, NSC, Sukanya Samriddhi Yojana?
Financial Literacy News: Investing in small savings schemes like the Public Provident Fund (PPF), Senior Citizen Savings Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), and others requires adherence to certain documentation procedures. Chief among these is the submission of Aadhaar details, as mandated by the Ministry of Finance. Key Points
Times Of IndiaCan I convert my single demat account into a joint account?
A single demat account is a type of dematerialised account that is opened and maintained by a single individual, while a joint demat account allows multiple holders with equal rights. Converting single to joint is not possible. Key Points
mintDomestic household savings needs to increase to finance pvt capital formation in economy: Finance Ministry
India needs to bolster domestic household savings to support private sector capital formation, as per the Finance Ministry's Monthly Economic Review. The report anticipates a better current account balance in the ongoing fiscal year due to a reduced merchandise trade deficit and increased net services receipts. However, concerns persist regarding the current account deficit in FY25. Key Points
Economic TimesLatest Sukanya Samriddhi Yojana interest rate: What you need to know for April-June 2024 quarter
Financial Literacy News: The Sukanya Samriddhi Yojana account (SSA) aims to secure a bright future for your girl child and promote her welfare. The government revises the interest rate on the Sukanya Samriddhi Yojana (SSY) every quarter. Key Points
Times Of IndiaLatest Sukanya Samriddhi Yojana interest rate: What is the SSY interest rate for April-June 2024 quarter?
Note that only one SSY account can be opened in the name of the girl child either by natural or legal guardian. Interest rate on Sukanya Samridhi Yojana (SSY) is revised every quarter by the government. Key Points
Economic TimesWhat is a demat account and how does it work? MintGenie explains
It is crucial to understand that opening a demat account serves as the initial step before entering the stock market. Let's understand what a demat account is and how it works. Key Points
mintNational Pension System: How to open an NPS account online - follow these 6 simple steps
Learn how to open an NPS account online in 6 simple steps. Get tax benefits and invest in various asset classes. Follow this step-by-step guide to open your NPS account. Key Points
Times Of IndiaEarn 7.4% interest on Post Office Monthly Income Scheme; do you get tax benefits for investing in POMIS?
Post Office Monthly Income Scheme: India Post offers a range of investment opportunities, including the Post Office Monthly Income Scheme (POMIS). With POMIS, investors receive monthly interest payments, with the interest rate being adjusted by the government on a quarterly basis. Key Points
Economic TimesWhen does a bank account go dormant? You can reactivate it at no cost - here's how
Financial Literacy News: Learn about the rules for dormant bank accounts in India and how to reactivate them without any cost. The Reserve Bank of India has simplified the process of reactivating dormant accounts. There are no penalties for not maintaining minimum balances in dormant accounts. Unclaimed deposits are transferred to the Depositor Education & Awareness Fund. Key Points
Times Of IndiaPPF, NPS, Sukanya Samriddhi rules: What’s the minimum deposit to be made per financial year to avoid penalty or account freezing?
Personal Finance News: Investors in Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), and National Pension System (NPS) must deposit a minimum amount in their accounts each year to keep them active. If they miss this deposit, their accounts can be frozen, and they may face penalties. Find out the minimum deposit requirements for PPF, SSY, and NPS accounts to avoid penalties. Key Points
Times Of IndiaHow to start investing in the stock market — A step by step guide
Engaging in stock investments can potentially increase your wealth over time, but it’s crucial to acknowledge the inherent risks involved. Before committing your funds to stocks, familiarize yourself with straightforward steps that can simplify the stock investment process. Key Points
mintMahila Samman Savings Certificate: Does this new post office scheme offer tax saving benefits?
The Mahila Samman Savings Certificate can be applied by women for personal investments or by guardians for minor girls. It is a one-time scheme available for two years, from April 2023-March 2025. Key Points
Economic TimesA beginner in stock market? Here's a step-by-step guide to open your first Demat account
The world of stocks is more accessible than ever, and one of the key tools for your journey is the Demat account. Owning shares without a Demat account would be like carrying around gold coins in a paper bag – inconvenient and prone to risk. Key Points
mintHow NRI can transfer NRO account money out of India
There are usually two types of bank accounts that are operated by an NRI in India. These are NRE and NRO bank accounts. The money lying in NRE bank account is easily remitted by an NRI outside India. However, the same cannot be said for the NRO bank account. There are certain rules that an NRI must comply with before making transfer either to overseas bank account or to NRE account. Key Points
Economic TimesIndia's no longer 'fragile', can weather global market volatility
In the face of global financial market turbulence, India's rupee appears more resilient due to a narrowed current account deficit (CAD) and bolstered forex reserves. Increased exports post-pandemic buffered the CAD, keeping it manageable at 2% in FY23 despite soaring commodity prices. Forex reserves, standing at over $600 billion, fortify the RBI's ability to stabilize the rupee, marking a significant contrast to a decade ago when India was tagged among the 'Fragile Five' economies. Forecasts project a reduced CAD and stable rupee for the upcoming fiscal years. Key Points
Economic TimesGlobal turmoil may restrict domestic impact, say economists
Global spillovers in 2024 can create volatility but the runaway depreciation of the Rupee may not happen as narrowing deficit have made the currency resilient. The Reserve Bank is also equipped with a strong armoury of foreign exchange reserves of over $ 600 billion to defend the rupee compared to $292 billion in 2012-13 adding to the market perception that RBi is being extra vigilant. Key Points
Economic TimesRBI issues new rules on inoperative, unclaimed savings accounts, FD, deposits: FAQs on how to claim, charg
The Reserve Bank of India (RBI) has issued comprehensive guidelines on the measures to be implemented by the banks covering various aspects. The revised instructions shall come into effect from April 1, 2024, stated RBI. Key Points
Economic TimesYour demat account will become inactive when this happens
An trading and demat account is most required for purchasing and selling and holding shares. However the trading and demat account could become dormant if there are sustained periods of inactivity. And no trade can be made through an dormant trading account until the reactivation process is completed. Read here to know more. Key Points
Economic TimesLatest PPF interest rate: Was Public Provident Fund rate hiked for January-March 2024 quarter?
The government has raised the rate of interest on two small savings schemes for the quarter January-March 2024 by 10-20 basis points. However, the PPF rate has been unchanged from April-June 2020. Key Points
Economic TimesPost office schemes new rules 2023: Major changes made to PPF, POTD, POMIS, Senior Citizens Savings Scheme
The government has made various changes under small savings schemes in the year 2023. Here we have listed some of the major and important changes made by the government. Key Points
Economic TimesMan gets fake SMS from Swiggy about order, ends up losing Rs 38,000 in online scam
In a concerning turn of events, a sales executive based in Bengaluru experienced a financial setback as he fell victim to an online scam, resulting in a loss of over Rs 38,000 from his LazyPay loan application account. Here is what happened. Key Points
India TodayHow NRI can transfer NRO account money out of India
There are usually two types of bank accounts that are operated by an NRI in India. These are NRE and NRO bank accounts. The money lying in NRE bank account is easily remitted by an NRI outside India. However, the same cannot be said for the NRO bank account. There are certain rules that an NRI must comply with before making transfer either to overseas bank account or to NRE account. Key Points
Economic TimesIndia a focus market for us; e-commerce, B2B services propelling growth, says Payoneer’s Gaurav Shisodia
For a small exporter, overseas transactions are tough and expensive. Payoneer says its solutions can simplify the process. Key Points
Economic TimesWhy all fathers' must open a PPF account for their kids
Once your kid has become an adult and the PPF account has completed its mandatory lock-in period of 15 years, he/she can decide whether to close the PPF account or extend it. Opening PPF account for kids when they are minor, helps them to avoid lock-in in the future years. Here is how. Key Points
Economic TimesPost office schemes rules changed: Govt makes changes to PPF, Senior Citizen Savings Scheme (SCSS), 5-year
On November 7, 2023, the government released a notification that made numerous significant modifications to the popular SCSS, PPF, and 5-year post office time deposit. Here is a look at the changes made to these small savings schemes. Key Points
Economic TimesNew PPF rule: Interest calculation on premature closure of PPF account changed
The Department of Post has made some changes in the premature closure rules of the Public Provident Fund (PPF) account. The Department made this change via a notification dated November 7, 2023. Key Points
Economic TimesMobile numbers deactivated or disconnected on subscriber’s request not allocated for at least 90 days: TRAI to SC
Apex court was hearing a petition raising concern about alleged misuse of data. Mobile phone numbers once deactivated for non-usage or disconnected on the subscriber’s request are not allocated to new subscribers for at least 90 days, the Telecom Regulatory Authority of India (TRAI) has told the Supreme Court. Key Points
The Tribune IndiaX Banned the account of a Major Critic. Now He’s Taking It to Court
Software developer Travis Brown’s X account was banned after his research alleged far-right influencers were becoming more prominent on the platform. He’s taking X to court in a bid to reverse the decision. Key Points
WIREDSunak 'so tiny he'd fit in a shopping bag' — Taliban parody account on X is a mix of cheek & commentary
The verified account, which has 67k followers, poses as the Taliban’s PR dept. Its posts range from irony, dark humour and memes to commentary on prominent geopolitical issues. Key Points
ThePrintClosing your bank account may take weeks if you don't check these 4 factors
It is not uncommon to have multiple bank account and sometime people can not operate all of them and hence may need to close one. However, you may get a surprise if the bank turns down your request to close your savings bank account citing many pending issues. Therefore it is better to check these factors before going for closing your saving bank account. Key Points
Economic TimesU.S. Treasury tasks JPMorgan with account validation for federal agencies
The U.S. Treasury Department has designated JPMorgan (JPM.N) to provide account validation services for federal government agencies, the investment bank said on Wednesday. Key Points
ReutersWhatsApp brings multi-account feature for Android beta users: How to use
WhatsApp is reportedly testing a new feature that allows users to add multiple accounts to the app on Android. The feature is currently accessible to a limited number of beta testers. Key Points
mintSBI, HDFC Bank FDs: How to close fixed deposit online
Depending on the tenure and amount, FD interest rate varies. However, in cases where there is a premature withdrawal, the bank may charge a penalty if withdrawn before a set period. Key Points
Economic TimesWill your EPF account earn tax-free interest even after you leave job?
Many salaried workers make monthly contributions to the Employees' Provident Fund (EPF) account knowing that the account will mature at the time of retirement. However, not many people are aware of the finer details of the scheme. How long money can be kept in the EPF account after leaving job? If an interest will be earned on those EPF accounts. Key Points
Economic TimesElon Musk reinstates Kanye West's Twitter account after 8 months
Ye's account now shows his last post from Dec. 1, a day prior to when his account was suspended on platform X, the new name owner Elon Musk has given Twitter. | World News Key Points
Hindustan TimesEarn 7.5% interest rate: PNB launches Mahila Samman Certificate
Mahila Samman Savings Certificate: Under this Scheme, investment can be made by a woman for herself, or by the guardian on behalf of a minor girl on or before the 31st March, 2025. An account opened under this Scheme will be a single holder type account. Key Points
Economic TimesBank of Baroda launches Mahila Samman Savings Certificate, a small savings scheme with 7.5% interest rate
Bank of Baroda is the third bank, after Canara Bank and Bank of India, to offer this facility, alongside the post office. MSSC is exclusively available to women and girls who can open an account either on their own behalf or on behalf of a minor girl with a guardian. Key Points
Economic TimesWhat is the latest Sukanya Samriddhi Yojana interest rate?
The Sukanya Samriddhi scheme aims to cover a girl child's costs for schooling and marriage. Interest rate on Sukanya Samriddhi is set by the government along with other small savings schemes. Key Points
Economic TimesTwitter ‘relocates’ users of Pakistani region to India, netizens say ‘tweets originating as…’
Twitter has reportedly blocked the government of Pakistan's official account in Gilgit-Baltistan and changed the region's location to parts of India. Pakistani officials have called the claim 'baseless' and stated that there are no restrictions on internet freedom in the region. Key Points
mintWill deleting Threads account remove your Instagram presence as well? This is all we know
Threads, a new social media platform from Meta, has been launched as a Twitter-like platform that directly challenges Elon Musk-owned company, which has faced significant problems recently. Let us explore what happens if you delete your Threads account, does it also remove your Instagram presence. Key Points
Economic TimesThis is the first bank where investors can open Mahila Samman Savings account; check details
The Bank of India is the first public sector bank to offer the Mahila Samman Savings Certificate 2023. According to a press release from Bank of India, it is the first bank to operationalise this scheme at all its branches. Key Points
Economic TimesHow to Open a Ppf Account? Here’s a Step-By-Step Guide
The National Savings Organisation brought in the Public Provident Fund scheme in 1968. The motive behind this initiative was to promote small investments and savings among the masses. Today, this scheme is a popular savings tool in India. Key Points
Times of IndiaHow to delete a Reddit account permanently? See a complete step-by-step guide
Deactivating your Reddit account will detach your username from your posts and comments. However, to ensure a complete separation from the platform, it is recommended to delete your posts and comments individually. Key Points
Economic TimesWant to deactivate Instagram? Here's a step-by-step guide
Instagram users can deactivate their accounts by simple steps. The process can be done by using either mobile app or web browser. Key Points
Economic TimesWhy all fathers' must open a PPF account for their kids
Once your kid has become an adult and the PPF account has completed its mandatory lock-in period of 15 years, he/she can decide whether to close the PPF account or extend it. Opening PPF account for kids when they are minor, helps them to avoid lock-in in the future years. Here is how. Key Points
Economic TimesNow income proof mandatory for Rs 10 lakh investments in small savings schemes
The Department of Posts has issued a circular on May 25, 2023, where it has revised the KYC norms for investing in small savings schemes for investors. The new KYC norms have been made stricter for those making large value transactions in the post office schemes. The proof of source of funds is needed along with the common KYC documents i.e., PAN, Aadhaar. Key Points
Economic TimesChatGPT: Here’s how you can delete your account, data, and history
Like social media platforms, OpenAI lets users delete their ChatGPT account if they want to. Here's how you can quickly delete your ChatGPT account and clear chat history. Key Points
The Indian ExpressHow to claim unclaimed money from bank savings accounts, FDs
The Reserve Bank of India has asked banks to identify accounts that have not had any customer-initiated transactions in over ten years. As per the regulation banks are required to transfer credit balances in such accounts to the Depositors Education and Awareness Fund (DEAF). Key Points
Economic TimesHigher EPS pension: How missing dues will be calculated, time limit and method to pay - clarifies EPFO
The latest EPFO circular issued on May 11, 2023, informs pensioners/employees about the method of calculating past dues that must be deposited into the EPS account if they are opting for a higher pension. The circular also informs how the additional dues are to be deposited to the EPS account. Read on to know more about it. Key Points
Economic TimesTwiiter locks ANI's account for being under 13 years of age !
ANI's editor Smita Prakash announced this in a tweet from her personal handle. Twitter, she said, has also sent an email to ANI stating that the handle was blocked for being under 13 years of age . Key Points
Economic TimesPremature withdrawal rules of 10 post office schemes: PPF, NSC, Senior Citizens Savings Scheme, Mahila Sam
The government of India revises the interest rates on these small savings scheme every quarter. Currently, the India Post offers ten plans to meet the various demands of individuals and their investing goal. Key Points
Economic TimesWoman loses Rs 7.23 lakh after clicking on link with part-time job offer, here is what happened
A woman based in Mumbai was duped of Rs 7.23 lakh after trying to get a part-time job. She got a message on her phone that promised her she could earn money by subscribing to YouTube channels. Key Points
India TodayApple’s high interest savings account for Apple Card users; 10x national average in interest
Apple and Goldman Sachs come together to debut a new savings account for Apple Card users, offering 4.15% in interest. Key Points
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