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Although this analogy is sometimes misused, it conveys a strong message: Having well-defined objectives and a well-thought-out plan will help you attain a success rate of 100 per cent
Updated : Jul 27, 2023

Do you love a life of luxury? You need a well-executed financial plan; here’s how to do it

Financial planning is vital for achieving any objective in life. You won't have to give up your lifestyle if you have a solid financial strategy. You can accomplish your objectives and maintain a respectable standard of comfort

This would enable the EPFO to credit the 8.15% rate of interest to subscribers on their PF contributions for last fiscal. 
Updated : Jul 24, 2023

Finmin approves 8.15% interest rate for EPFO for FY23

The interest rate is higher than the multi-decadal low 8.1% interest rate for FY22

Axis Bank to devalue Magnus Credit Card from September 1: All you need to know
Updated : Jul 21, 2023

Axis Bank to devalue Magnus Credit Card from September 1: All you need to know

The card would lose its monthly milestone benefit of 25,000 points and the annual fee of Axis Magnus has also been increased from Rs 10,000 + GST to Rs 12,500 + GST

Add-ons like consumables cover protection cover also prove to be useful in such cases since they shield the important parts of your vehicle.
Updated : Jul 14, 2023

Flood Fury: Can I buy engine protection add-on before renewal of my motor insurance policy?

In this edition Ask Money Today find out about the types of cover that you can avail of to protect your vehicles

With RuPay being an indigenous card, its transaction fees are lower than its foreign competitors, such as Visa and MasterCard.
Updated : Jul 14, 2023

Digital payments: 5 reasons why you should opt for a Rupay credit card

But you just be aware of its limitations like lower credit limit

NRIs who own property in India can leverage it to acquire capital to meet their financial needs with loans against property.
Updated : Jul 12, 2023

How can high net-worth NRIs leverage loans against assets they hold in India?

They can look at loans against property, which offer benefits like lower interest rates, plus the loan amount is usually high

Electoral bonds 2023 to be issued from today by SBI
Updated : Jul 03, 2023

Electoral bonds 2023: Sale of 27th tranche begins today; check details

The approval was given on June 30. State Bank of India has been authorised to issue and encash electoral bonds through 29 authorised branches across the country.

PAN is a unique number issued to individuals and businesses for tax purposes. However, all Indian residents need to have a unique 12-digit Aadhaar number.
Updated : Jun 28, 2023

Linking of PAN and Aadhaar is not compulsory for these individuals. Find out here

The PAN of such individuals will not become inoperative. Even if they wish to link Aadhaar with PAN, they are not required to pay a fee

The government has issued a notification dated May 3 which states that for members exercising the option for contributing toward an additional pension, the employer contribution would be 9.49% (8.33% + 1.16%) of the PF wages.
Updated : Jun 23, 2023

EPFO may likely extend deadline to opt for higher EPS pension, say experts

Deadline for applications set to expire on June 26. Experts say since EPFO has delayed issuing clarifications on application process it may have to extend last date

Focus today will be on Fed governor’s testimony and a Fed official’s comments. BOE policy meeting where they are expected to raise rates by 25bps and US weekly jobless claims data will also be important
Updated : Jun 22, 2023

Gold and silver prices today: Gold steadies after hitting 3-month low, silver declines by Rs 1,500

This follows US Fed Chairman Powell’s comments on possible further rate hikes; markets will also keep a watch on BOE policy meeting, and US weekly jobless claims data

Credit cards usually offer reward benefits which can be utilised for saving money on a variety of expenses.
Updated : Jun 21, 2023

Here are 6 tips that can help you use your credit card smartly

Experts say many people use credit cards to accumulate rewards, but users need to be careful

It is worth noting that when you make regular payments towards your outstanding bill amount, you get an interest-free credit period for up to two months. But, if you only make MAD payments, you will not receive this benefit.
Updated : Jun 20, 2023

Are you paying only minimum dues on your credit card? Know how interest gets calculated

When you make the minimum payment on your outstanding balance, the bank will continue levying interest on that amount and all new transactions until you pay the previous balance in full

India and Singapore linked their national payments systems this year to provide a low-cost and safe pathway for annual remittances to the tune of over $1 billion.
Updated : Jun 13, 2023

NPCI plans to take UPI to Saudi Arabia, Bahrain, other Gulf countries: Report

NPCI is trying to establish bank-to-bank transfer systems with Gulf countries in a bid to simplify cross-border remittances

UPI123PAY, developed by the National Payments Corporation of India (NPCI), facilitates UPI payments for feature phones, eliminating the requirement for an internet connection.
Updated : Jun 12, 2023

Here’s how you can make UPI payments without internet using IVR

Punjab National Bank has launched IVR-based UPI solution UPI 123PAY for people in low internet connectivity zones

To utilise UPI with your credit card, you’ll need to apply for a RuPay credit card from a bank that supports this UPI feature such as Bank of Baroda, Axis Bank, HDFC Bank, Punjab National Bank, Kotak Mahindra Bank, Union Bank of India among others.
Updated : Jun 12, 2023

Here’s how you can use credit cards for payments via Google Pay, PhonePe, Paytm & BHIM

You can manually link your physical card to payment apps that are compatible with credit transactions on UPI.

Physical gold demand slowed in China and India last week, forcing dealers to offer discounts, with volatile prices in India prompting buyers to delay purchases.
Updated : Jun 12, 2023

Gold, silver prices: Gold prices inch lower in early trade ahead of CPI data, Fed meeting

Experts say weakness in the US dollar might support gold and silver as safe-haven assets

Sharp rate hikes in the last year have left borrowers under pressure from higher EMIs and longer loan tenures.
Updated : Jun 05, 2023

RBI likely to hit pause on interest rates again, say experts

At the upcoming MPC meeting that begins on Tuesday, analysts will also keep an eye on RBI’s stance

LIC said a list of casualties published by the Railways, police or any state or Central authorities will be accepted as proof of death in place of registered death certificates.
Updated : Jun 04, 2023

Coromandel Express tragedy: LIC simplifies claim settlement process for Odisha train accident victims; check details here

Odisha triple train accident: LIC announced many concessions to lessen the trials and tribulations of the claimants of LIC policies as well as the claimants of the Pradhan Mantri Jeevan Jyoti Bima Yojana.

In the international market, gold prices are around $1,980.47 per troy ounce
Updated : Jun 02, 2023

Gold, silver prices: Gold prices on track for biggest weekly gain in nearly two months

Hopes of a pause in the US Fed’s monetary tightening campaign have bolstered bullion’s appeal.

The MCLR is revised every month, taking into consideration the repo rate and other rates related to borrowing.
Updated : Jun 01, 2023

ICICI Bank, PNB revise basic lending rates, EMIs to be tweaked: Check new loan rates here

Both the banks have hiked their MCLR on some of the tenors. The rates are effective from June 1, 2023.

The deadline for PAN-Aadhaar linking is in the month of June
Updated : Jun 01, 2023

Revised LPG prices, PAN-Aadhaar linking to Higher EPS pension deadlines: 8 rule changes in June to note

Here’s a quick look at the rules, deadlines, price hikes, and things to watch out for in June