Author: Naresh Saini

In a move to support the brave soldiers of Haryana, the state government has announced the launch of the Jai Jawan Awas Yojana, a housing scheme aimed at providing affordable homes to active and retired soldiers of the state. This initiative reflects Haryana’s longstanding tradition of contributing significantly to India’s armed forces, with over 89,000 active soldiers serving from the state. Who Can Benefit from Jai Jawan Awas Yojana? This housing scheme is exclusively for soldiers and ex-servicemen who are residents of Haryana. However, only those without existing houses are eligible to apply for this scheme. Soldiers who already own…

With recent news on potential changes by the EPFO (Employees’ Provident Fund Organisation), salaried private-sector employees could see a significant boost in their retirement pensions. Reports suggest the government may increase the EPS (Employees’ Pension Scheme) wage ceiling from the current Rs 15,000 to Rs 21,000 per month. This change, if implemented, would allow more employees to participate in the pension scheme and could increase their pension payouts upon retirement. What’s Changing in the EPF and EPS Contribution Structure? Currently, 12% of an employee’s basic salary and DA (Dearness Allowance) goes into their EPF (Employees’ Provident Fund) account. Employers match…

In the last few years, Aadhaar Enabled Payment System (AEPS), one of India’s key digital payment systems, has seen a noticeable decline. From April 2022 to September 2024, AEPS transaction volumes fell from ₹27,900 crore to ₹23,600 crore, with total transactions dropping slightly from 20.5 crore to 20.2 crore, as per data from the National Payments Corporation of India (NPCI). Despite being widely used, the reduction highlights certain factors influencing its popularity. What is AEPS and How Does it Work? The AEPS, developed by NPCI, was designed to provide basic banking services to customers through Business Correspondents (BCs) who operate…

Contributing to the National Pension System (NPS) has just become simpler for everyone, as the BHIM app now offers a quick and convenient way to make NPS contributions. National Payments Corporation of India (NPCI) subsidiary NPCI BHIM Services Limited (NBSL) has launched this new feature through the BHIM app, allowing users to pay directly into their NPS accounts. This new facility aims to encourage more people to save for retirement by making it more accessible and convenient to invest in their future. With payments processed on the same working day, the BHIM app promises a seamless, secure experience for contributors,…

With the rising cost of living, finding a secure way to grow savings has become crucial. Many people, especially seniors, seek reliable investment options that provide regular income to ensure financial stability during retirement. The Post Office Senior Citizen Savings Scheme (SCSS) offers a great opportunity for seniors who want a safe investment with attractive returns. With this scheme, retirees can earn as much as Rs.20,000 per month, ensuring a steady income with government-backed security. High Interest Rate of 8.2% for Financial Security The SCSS offers a substantial interest rate of 8.2% annually, which is notably higher than the rates…

The cryptocurrency market is buzzing as Bitcoin continues its impressive rally, reaching unprecedented highs in a matter of days. Investors who held on to Bitcoin have witnessed significant gains, with Bitcoin jumping from $81,000 to $90,000 overnight on November 5. According to crypto experts and financial analysts, this upward trend may only be the beginning, with Bitcoin predicted to reach the $100,000 mark by the end of 2024 and potentially $200,000 by 2025. Let’s look at the key drivers behind this surge and what might keep pushing Bitcoin prices higher. A Favorable Regulatory Environment Under Trump’s Leadership The election of…

Millions of EPF subscribers could soon see changes in their retirement savings. The Indian government is considering an increase in the EPF (Employees’ Provident Fund) wage ceiling from Rs.15,000 to Rs.21,000, which would allow more employees to join the Employee Pension Scheme (EPS) and qualify for pension benefits. This change may influence how much goes into your EPF and EPS accounts, altering the overall balance of retirement funds and future pension amounts. Let’s break down how this potential increase will work, how it affects EPF and EPS contributions, and what you need to know to prepare for these changes. What…

Many Indians overlook the importance of saving for retirement until they reach their 40s. By that time, traditional savings like the Employee Provident Fund (EPF) alone may not provide enough for a comfortable retirement. If you’re 40 and haven’t saved much yet, there’s a straightforward investment strategy to help you reach ₹5 crore by age 60. Known as the 40x20x50 formula, this SIP (Systematic Investment Plan) approach is a powerful way to grow your retirement fund over the next 20 years. What is SIP and Why is It Effective? Systematic Investment Plan (SIP) is an easy and disciplined way to…

If you’re looking for a secure and comfortable retirement, Life Insurance Corporation of India’s (LIC) New Jeevan Shanti Plan could be the perfect option. With a single, one-time investment, this pension plan allows policyholders to receive a fixed pension for life, helping you to enjoy financial independence well after retirement. Here’s a closer look at how the LIC New Jeevan Shanti Plan can ensure you stay worry-free even after the age of 60. What Makes the LIC New Jeevan Shanti Plan Unique? The New Jeevan Shanti Plan from LIC is a unique, single-premium annuity policy. It requires only one initial…

The Indian government has introduced the PM Vidyalakshmi Yojana, a new initiative aimed at supporting financially struggling students to complete their higher education. Under this scheme, eligible students can secure loans of up to ₹10 lakh without collateral or guarantors, allowing them to pursue education at some of the country’s top institutes. PM Vidyalakshmi Yojana Aims to Boost Higher Education Access Every year, numerous Indian students abandon their educational aspirations due to financial constraints. The PM Vidyalakshmi Scheme, approved by the Union Cabinet, targets this gap by offering financial aid through education loans for eligible students. This scheme aims to…