Tax saving is one of the key factors when it comes to savings and investments for middle-class taxpayers and senior citizens. As regards senior citizens, they aim for financial security by investing their money primarily in non-market-linked products, which give them a sense of safety in times of volatile stock markets. Another key aspect of
Lenders frequently require certain loan applicants to provide loan guarantors. This condition is typically imposed when there are uncertainties regarding the repayment ability of the primary borrowers and co-borrowers. Additional circumstances that may prompt lenders to request loan guarantors include insufficient credit scores of the primary applicants, a precarious employment situation, loan amounts that surpass
CGHS services revamp for government employees: Ahead of the Union Budget 2025, the Staff Side of the National Council Joint Consultative Machinery (NC JCM), representing millions of central government staff, has urged Finance Minister Nirmala Sitharaman to implement the recommendations of the Parliamentary Standing Committee on Petitions regarding Central Government Health Scheme (CGHS) facilities. The
In a bid to free up working capital and ease the burden of businesses, tax experts have urged the government to relax the provisions of submitting a pre-deposit amount in case any business wishes to get a stay on income tax demand. Experts say the pre-deposit amount, which sometimes is to the tune of hundreds
With the Reserve Bank maintaining the interest rate regime at an elevated level, banks continue to offer attractive rates on fixed deposits to attract new customers. Over the past two years, all banks, including small finance banks, have been raising their FD rates to secure more deposits amidst the high repo rate environment. Compared to
EPFO News: The Employees’ Provident Fund Organisation (EPFO) has initiated some game-changing reforms to benefit over 7 crore members. The retirement fund body has simplified the joint declaration process, implemented a Centralised Pension Payment System (CPPS), taken action on policies related to higher pensions for members, enabled online member profile updates, and made easy PF
The Unified Payments Interface, popularly known as UPI, has become a true friend of Indians as more and more people are using it to make transactions on regular basis. Due to convenience and faster processing time, UPI has become a popular mode of transaction for millions. UPI enables real-time money transfers between bank accounts through
Baroda BNP Paribas Mutual Fund has launched an energy opportunities fund. The new fund offer (NFO), Baroda BNP Paribas Energy Opportunities Fund will aim capitalising on growth opportunities in India’s energy sector. The NFO will remain open for subscription from January 21, 2025, to February 4, 2025. Baroda BNP Paribas new fund’s objective: Baroda BNP
Spanish retail major Inditex on Wednesday launched its youth-centric retail brand Bershka, its second-largest globally after Zara, in India, setting the stage for competition with Reliance’s youth-focused retail chain Yousta. The Bershka launch at the Phoenix Palladium Mall in Lower Parel, Mumbai, comes as Inditex, among the world’s largest fashion retailers with over $37 billion
Welspun One, the logistics and industrial real estate arm of Welspun Group, on Wednesday said it has committed the whole of its Fund 2, a Rs 2,000-crore fund, within eight months of its final close. The fund has invested the corpus across nine Grade A assets. Welspun said it is launching a co-investment programme, targeting
The executive committee of the Employees’ Provident Fund Organisation’s (EPFO) Central Board of Trustees (CBT) has approved the retirement fund body’s plan of integrating itself with United Payment Interface (UPI) to smoothly allow processing of claims by subscribers. According to official sources, the committee, in its meeting held earlier this week, was briefed about the
Third-party logistics players’ (3PL’s) share of e-commerce shipments, excluding grocery, will continue to grow in line with the growth in online shipments over the next five years, according to a report by Redseer. In FY24, this stood at $4.4 billion and is expected to rise by 30% to $15-17.5 billion by FY29, the report notes.
WSB Real Estate Partners, a fund manager, has invested over Rs 300 crore in three property developers from its newly-launched ‘Mumbai Opportunities Strategy’. The fund manager does early-stage pre-approval deals, which banks and non banking financial companies are barred from doing, but alternative investment funds are allowed. The funds have been raised from multiple investors
