Author: Nisha Chawla

The National Pension System (NPS) Vatsalya Yojana has been introduced to help parents secure a financially stable future for their children. By opening an NPS Vatsalya account, parents can ensure their children have a substantial fund when they reach adulthood, providing them with financial security and stability. The scheme offers an easy and convenient way for parents to invest through various banks across India, both in person and online. Banks Offering NPS Vatsalya Accounts Several banks have started offering NPS Vatsalya accounts, making it accessible for families across the country. Here’s a list of banks where you can open an…

The US Federal Reserve recently cut interest rates by 50 basis points, bringing its federal fund rate to a range of 4.75-5.0%. This marks the first rate reduction by the Fed since 2020, with further cuts expected by the end of the year. Following the Fed’s move, many are now wondering if the Reserve Bank of India (RBI) will also consider lowering interest rates in its upcoming policy meeting. No Rate Change by RBI in August: What’s Next? In the RBI’s last Monetary Policy Committee (MPC) meeting in August, the central bank decided to keep the repo rate unchanged at…

Arundhati Bhattacharya Urges Banks to Adapt to Changing Investment TrendsIn a recent conversation with CNBC-TV18, Arundhati Bhattacharya, former Chairperson of State Bank of India (SBI) and current CEO of Salesforce India, shared critical advice for Indian banks. She pointed out that the younger generation no longer relies on traditional bank deposits and is leaning towards higher-risk investments. Bhattacharya highlighted the need for banks to acknowledge this shift and adapt their strategies accordingly. Youth Are More Willing to Take Risks with Their InvestmentsBhattacharya explained that today’s youth are much more open to taking risks compared to previous generations. Unlike their parents,…

Tax saving Fixed Deposits (FDs) remains a popular choice for risk-averse investors, especially among senior citizens. These investment instruments not only provide assured returns but also offer tax benefits under Section 80C of the Income Tax Act, allowing investors to claim deductions of up to Rs 1.5 lakh. These FDs come with a mandatory 5-year lock-in period, ensuring a disciplined approach to saving. With several banks offering competitive rates on tax-saving FDs, it’s important to know where you can get the best returns. Here’s a look at which banks are currently offering the highest interest rates on tax-saving FDs. Small…

Mutual funds have become a popular investment option for many, especially with the rise of digital platforms that make investing as simple as opening a Demat account. But when it comes to choosing the right type of mutual fund, most people may not realize that there are two broad categories: Active Funds and Passive Funds. Whether you’re a seasoned investor or just getting started, understanding the difference between these two options is crucial to making informed investment decisions. Let’s break down both types and help you decide which one suits your investment needs. Active Mutual Funds: Managed for Maximum Returns…

In a concerning trend, an increasing number of Indians believe it is acceptable to exaggerate their income while applying for loans. According to a recent survey, a significant portion of the population sees no harm in inflating their financial details, especially when it comes to personal and home loans. This behavior has raised alarms among banks and financial institutions, as it leads to higher risks of bad loans and default. Survey Highlights: A Worrying Shift in Financial Integrity A global survey conducted by FICO, a prominent analytics software company, reveals that over 63 percent of Indians think it’s okay to…

Planning for your child’s higher education can feel overwhelming, especially with the rising costs of courses like MBA, engineering, or medical degrees. While education is one of the most important investments you will make for your children, it’s essential to plan early to ensure you’re financially prepared. By saving and investing wisely, you can make sure your child gets the education they deserve without facing any money-related stress. Here’s a simple and effective guide on how to save and invest for your child’s higher education. 1. Why Starting Early is the Key to Success When it comes to saving for…

The US Federal Reserve recently surprised global markets by cutting interest rates by 50 basis points (bps) on September 18. This marks a significant shift in its rate cycle, the first such cut in four years. The move has led Indian investors to wonder whether the Reserve Bank of India (RBI) will follow a similar path and lower rates in the near future. With the RBI’s next Monetary Policy Committee (MPC) meeting scheduled from October 7-9, this speculation is gaining steam. In this article, we’ll explore how the Fed’s decision might impact Indian investors, particularly those focusing on fixed-return instruments…

With the rise of digital payments, debit and credit cards have become essential tools for everyday financial transactions. While both allow easy access to money, they function very differently. It’s important to understand the basic differences between debit and credit cards to make informed decisions on how to use them in your daily life. Here, we’ll explore how debit and credit cards work, what they offer, and how to use them wisely. What is a Debit Card? A debit card is directly linked to your bank account, usually a savings or current account. When you use a debit card, the…

With the US Federal Reserve cutting interest rates, all eyes in India are now on the Reserve Bank of India (RBI). Many people are wondering if this move by the Fed will push the RBI to lower its own interest rates. This could bring some relief to borrowers as it would make loans cheaper. However, financial experts are divided on whether the repo rate—the rate at which RBI lends money to commercial banks—will actually be reduced anytime soon. The repo rate has been steady at 6.50% since February 2023, when the RBI last made changes. The next big moment will…