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The Dearness Allowance (DA) is an important component of the salary of central government employees and pensioners. It is revised periodically by the government to compensate for changes in the cost of living, with inflation data playing a key role in determining the revised rate. The central government generally revises the Dearness Allowance (DA) twice…
A ₹5 lakh savings corpus can provide an individual with more than just a financial cushion. It can be the starting point of a well-thought-out investment journey. All it takes is proper planning and long-term vision. Still, with options ranging from fixed deposits, mutual funds, gold, bonds, and equities, deciding where to put the funds…
A large chunk of Prashant Kishor’s financial portfolio is parked in fixed deposits, much more than what he has invested in equities. FDs offer the comfort of predictable returns and relatively low risk, but also mean a bigger tax bill as interest income accumulates. So, how much could this FD-heavy strategy cost him in taxes?…
The concept of financial freedom is often associated only with allocating substantial funds and building a large savings corpus. This, along with investing regularly and becoming debt free are considered financial success. Still, true financial independence also means ensuring that an unexpected event does not derail the financial goals you have worked hard to achieve…
The Reserve Bank of India (RBI) has proposed a new methodology for calculating the Marginal Cost of Funds Based Lending Rate (MCLR), under which banks would use a three-month moving average of their marginal cost of domestic deposits and borrowings. The proposal is part of the draft Reserve Bank of India (Interest Rates on Loans…
The Bharatiya Mazdoor Sangh (BMS) has raised a number of demands before the Centre ahead of its protests scheduled nationwide on 17 August, the central trade union’s national vice president and media in-charge Pawan Kumar said. In Delhi, the RSS-affiliated union’s protest will be held at Jantar Mantar, as per a PTI report. Speaking to…
Using a credit card responsibly involves more than simply paying the bill on time. Two dates that play a crucial role in managing credit card payments are the statement date and the payment due date. While both are part of the same billing cycle, they serve different purposes. Having a clear understanding of both is…
Most home loan borrowers aspire to reduce their overall debt. This is done either by making larger EMI repayments or by making strategic prepayments. That is why, when such individuals receive a salary bonus, increment, or annual incentive, a key financial question always arises: Should the money be utilised to reduce the outstanding loan or…
If you are working for more than one employer, you may be wondering how your Employees’ Provident Fund (EPF) membership works and whether both companies can contribute to a single PF account, allowing your retirement corpus to keep growing through the power of compounding. For part-time jobs, most employers may not offer PF, but it’s…
Registrations for the Delhi Lakshmi Yojana will continue until all eligible women are covered under the scheme, according to Chief Minister Rekha Gupta. The financial aid programme for women is the largest such scheme and was launched by the Delhi government in the ongoing monsoon session of the state assembly, PTI reported. “Around 5.92 lakh…