Author: Naresh Saini

The National Pension Scheme (NPS) Vatsalya, launched by the Central Government, is quickly gaining popularity among parents looking for long-term financial security for their children. Designed specifically for children under 18 years of age, NPS Vatsalya allows parents to start saving from the day their child is born, ensuring a secure and stress-free retirement for them. With just a modest investment of Rs. 3000 per month, parents can build a substantial corpus, potentially giving their children a pension of over Rs. 13.5 lakh per month after they turn 60. Why NPS Vatsalya is a Game-Changer for Parents The government introduced…

If you’re a senior citizen looking for a secure and rewarding investment option, the Senior Citizen Savings Scheme (SCSS) is a government-backed scheme that offers both safety and attractive returns. Specifically designed for those above 60, it allows investments up to Rs. 30 lakh, while also offering tax benefits and steady interest payouts. Who Can Open an SCSS Account? This scheme is available for individuals who are: Accounts can be opened individually or jointly with a spouse, but the full deposit in joint accounts is considered as belonging to the primary account holder. How Much Can You Invest? The SCSS…

Starting in October 2024, significant changes in life insurance policy rules have been introduced by the Insurance Regulatory and Development Authority of India (IRDAI). These new rules aim to provide better financial security and protection to life insurance policyholders. The most notable changes revolve around the surrender value, ensuring that policyholders get higher refunds if they surrender their policies prematurely. Here’s a breakdown of how these changes impact policyholders and how they can benefit. Higher Refunds on Policy Surrender One of the biggest benefits of the new rules is that policyholders will now receive a higher refund if they decide…

A PAN card is not just another identification document; it is a crucial piece of proof issued by the Income Tax Department. PAN, or Permanent Account Number, is required for various financial and tax-related activities. Have you ever wondered what the letters and numbers on your PAN card mean? Let’s break it down and explain the key details in simple terms. Name of the Cardholder The first thing you’ll notice on your PAN card is the cardholder’s name. For individuals, it is their full name. In the case of companies or firms, the registered business name appears. This is an…

The NPS Vatsalya Yojana, a new pension scheme launched by the Central Government on 18 September 2024, is gaining quick traction. This scheme is designed to help parents or guardians secure the financial future of their children by opening a National Pension System (NPS) account in their name. In just two weeks since its launch, around 33,000 accounts have already been opened for minors. When the scheme was rolled out, nearly 9,700 people subscribed on the very first day. This strong response indicates the growing interest among parents to save for their children’s future through a structured pension scheme. Key…

The Unique Identification Authority of India (UIDAI) has extended the deadline for updating Aadhaar information for free until December 14, 2024. This extension gives Aadhaar cardholders 90 additional days to correct or update details such as name, address, and date of birth without paying any charges. Earlier, the deadline was set to expire on September 14, 2024, but the extension offers a timely relief, especially for those who are yet to update their Aadhaar details. This initiative by UIDAI aims to ensure that Aadhaar data remains accurate, as the card plays a crucial role in various day-to-day services. From government…

Gold has always been regarded as a symbol of wealth and beauty, especially in jewellery. However, its versatility and unique properties have made it essential in several modern industries. From aerospace to medicine, gold’s applications go far beyond coins and ornaments. Here’s a deeper look at where gold is being used today. Jewellery: The Classic Use of Gold For thousands of years, gold has been synonymous with jewellery. Its malleability, combined with its resistance to tarnish and high shine, makes it an ideal material for crafting beautiful ornaments. About 78% of the world’s mined gold is used in making jewellery.…

Maharashtra Chief Minister Eknath Shinde has promised a significant increase in the financial aid provided under the ‘Ladki Bahin’ scheme if his government secures victory in the upcoming state elections. Currently, women beneficiaries receive Rs. 1,500 every month. Shinde has committed to raising this amount to Rs. 3,000 per month to further support married, widowed, and destitute women across the state. The ‘Mukhyamantri Majhi Ladki Bahin Yojana’ was launched by the Mahayuti alliance government to provide financial assistance to women between the ages of 21 and 65 years. This aid is intended for women whose families have an annual income…

The National Pension System (NPS) is one of the most popular investment options for ensuring a steady income after retirement. By investing in NPS, individuals build a retirement corpus, but what ultimately matters is how they plan to receive their pension. This is where the annuity plan comes into play. Choosing the right annuity is critical because it determines how much pension you will receive after retirement. An annuity plan is a contract between the individual and a life insurance company that guarantees regular income after retirement in exchange for a lump sum amount. There are multiple types of annuity…

In a bid to create more job opportunities for young people in Uttar Pradesh, the Yogi Adityanath-led government has introduced a major new initiative called the Mukhyamantri Yuva Udyami Vikas Abhiyan. This initiative is aimed at helping educated youth become self-employed by providing financial assistance through interest-free loans. The announcement was made after a cabinet meeting chaired by Chief Minister Yogi Adityanath on October 1, 2024. The government’s focus with this scheme is to uplift the state’s economy by encouraging the youth to start micro enterprises, particularly in sectors like Khadi, village industries, handloom, textiles, and MSMEs (Micro, Small, and…