EPFO: On March 28th of the previous year, the EPFO announced an interest rate of 8.15% for the Employees’ Provident Fund (EPF) accounts for the fiscal year 2022-23. According to a report from news agency PTI on Saturday, the Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO) has set the interest…
Zerodha Fund House: The ETF replicates the Nifty 1D Rate Index, which tracks the returns generated by overnight lending market players. The Zerodha Fund House unveiled a new plan and the Zerodha Nifty 1D Rate Liquid ETF, India’s first growth liquid exchange-traded fund (ETF), on Wednesday. By January 24, the fund should be listed on…
A fintech company called Fixed Invest has partnered with Bajaj Finance to offer its customers and associates digital choices for fixed deposits (FDs). After launching the first FD marketplace in India, the business partnered with Bajaj Finance to create a digital fintech. Investors on the Fixed platform can now access and invest in all of…
Through a notice published on November 7, 2023, the finance ministry revised the rules governing early withdrawals from post office fixed deposit, often known as post office time deposits. As per the latest standards, it is not possible to prematurely terminate a post office fixed deposit (FD) with a five-year term that was started on…
The innovative plan from Life Insurance Corporation of India (LIC) combines entire life insurance with individual savings. Designated as LIC’s Jeevan Utsav, the scheme will go into effect on November 29, 2023. This plan provides comprehensive life insurance coverage for the duration of an individual’s lifetime and is non-linked and non-participating. Furthermore, the plan permits…
Recently, the Reserve Bank of India (RBI) increased the risk weights by 25 percentage points to 125 percent for consumer credit exposure, especially for personal loans. As a result, banks must now maintain larger capital reserves, which raises the cost of capital for these loans. This adjustment affects both new and existing loans. Consequently, while…
Axis Bank and the gold loan company Manappuram Finance were fined Rs 90.92 lakh and Rs 42.78 lakh, respectively, by the RBI for breaking certain directives from the watchdog of the banking industry. Axis Bank and the gold loan company Manappuram Finance were fined Rs 90.92 lakh and Rs 42.78 lakh, respectively, by the Reserve…
Senior citizens should put some of their savings into fixed deposits, which provide liquidity and interest income regularly. Seniors who enjoy investing in fixed deposits are in for a treat. According to BankBazaar data, private and public sector banks are offering interest rates as high as 8% on three-year fixed deposits for senior citizens. The…
Nita has been pushed by her banker to use her gold assets, which are passive. The banker advised her to borrow money against her gold coins, jewelry, and other possessions and use it to invest in equity markets. The banker claims that doing this will increase her wealth and bring life to her passive assets….
You can knock on the bank’s doors when you are in dire need of money. nevertheless, figuratively only not literally. The simplest solution is to apply for a personal loan from SBI online. This post will explain how to apply for a personal loan from SBI, the requirements for qualifying that the bank has set,…
