In a major letdown for over 1 crore central government employees and pensioners, the Union Finance Ministry has confirmed that no proposal is under consideration for setting up the 8th Pay Commission. Responding to a question in the Rajya Sabha, Pankaj Chaudhary, Minister of State in the Ministry of Finance, categorically said that there is
Term insurance is all about pure risk protection — offering a death benefit to dependents in case the policyholder passes away during the policy term. However, if the policyholder survives the policy term, there’s no payout. This very feature leads to many people asking themselves “why should I pay for something if there’s no return?”
SBI Mutual Fund has launched SBI Quant Fund, an open-ended equity scheme that follows a quant-based investing theme. The mutual fund scheme, which will be available for subscription from December 4-18, is aimed at generating long-term capital appreciation by investing in equity and equity-related instruments selected based on an in-house quant model. However, there can
The Indian alternative investment sector, which includes Portfolio Management Services (PMS) and Alternative Investment Funds (AIF), is poised to surpass the Rs 100 lakh crore threshold by 2030 as it embarks on a new phase of growth, as per PMS Bazaar estimates. The PMS and AIF sectors have experienced remarkable growth, achieving a compound annual
7th Pay Commission: The Dearness Allowance (DA) for central government employees currently stands at 53% of the basic salary after the July 2024 revision. The rule says if the DA breaches the 50% of the basic pay mark, certain allowances get automatically revised. This rule ensures that employees’ additional expenses are accounted for amid inflation
Investment is a complex endeavor that requires the implementation of effective strategies and the continual adjustment of one’s financial profile in response to evolving market conditions. In India, many individuals aspire to become crorepatis; however, the path to achieving this ambition presents significant challenges for investors. To amass such wealth, it is essential to employ
Term life or whole life insurance – which should one choose? This question troubles many, as both serve different purposes and the choice depends on an individual’s financial goal. As the name suggests, term insurance is like renting a policy for a specific period. If the policyholder passes away during this term, the insurer pays
Federal Bank has launched Esteem Savings Account, setting a new standard in personalised banking experiences. This premium banking solution reflects Federal Bank’s commitment to providing tailored financial services for customers aged 55 and above, addressing their diverse needs. Key highlights of the Esteem Savings Account include: 1. Complimentary Insurance Cover: Insurance cover includes free yearly health check-up, Hospital Cash facility and
Banks from time to time launch special fixed deposits (FDs) to attract general customers as well as senior citizens. If you are thinking of investing in an FD scheme, then do not miss this golden opportunity. Many banks are offering attractive rates on their special FD schemes. But they are now for a limited period.
As many as 30,161 taxpayers voluntarily declared foreign assets worth Rs 29,208 crore for the assessment year (AY) 2024-25 to the Income-tax department under a special campaign launched in November 2024, official sources said. Under the “compliance-cum-awareness campaign,” the Central Board of Direct Taxes (CBDT) had urged taxpayers to declare their foreign assets and income
Gujarat Cooperative Milk Marketing Federation (Amul), the country’s largest milk cooperative, has been ranked as the third most valued brand in India in the prestigious YouGov India Value Rankings 2025. Notably, Amul is the only Fast-Moving Consumer Goods (FMCG) brand in the top three list, alongside e-commerce giants Amazon and Flipkart. According to an official
Quick commerce platform Blinkit is moving from a fixed commission model to a variable one for its sellers under the marketplace model, according to people in the know. This change will require sellers in certain categories, such as home cleaning, to pay higher commissions on higher-priced products. Earlier, the company used to charge a fixed
If you are wondering in which city of India you can get the most prime property for $1 million (about Rs 8.7 crore), then the latest report of Knight Frank may surprise you. By spending this amount in Mumbai, you will get only 99 square metres or 1,065 sq feet of space, whereas in Delhi
