Navigating the maze of personal finance
I have already talked about the growing importance of your Aadhaar number in the financial space. Recently the Labour ministry made Adhaar mandatory for all Employee’s Provident Fund Organization (EPFO) account holders. According to this order if you have an EPFO account, you will have to share your Aadhaar details with EPFO. In case you … Read more
While calculating my income tax for the year I knew the major sections under which I could reduce my liability. I thought of prodding further and was pleasantly surprised to find that there are a number of conditions under which deductions can be claimed. I am sharing with you a comprehensive list of income tax … Read more
As India has started its journey towards a cashlite/cashless economy, traveling down the road of demonetization we are finding newer apps and technologies rolled at an increasing pace. There are numerous options trying to meet the need of a diverse set of people differing in their access to internet, economic status, purchasing power (deciding use … Read more
What is NPS? NPS stands for National Pension System. A voluntary contribution scheme(Central Government employees who joined after 1 January 2004 need to compulsorily invest in NPS since they will no longer get defined benefit pensions on retirement) regulated by the PFRDA, it aims to provide retirement income to all Indian citizens that invest in … Read more
You will be surprised by the large number of options available in India for making payments – both offline and online. I have created an image that catalogues the different ways of making payments so that anyone interested can find what they need and use what suits them best. NEFT: National Electronic Funds TransferRTGS: Real-time … Read more
Going digital is the need of the hour. Though net banking and credit cards have been in market for quite some time now, they have been limited to people who have access to net and are tech-savvy. With the digital push by Indian Government new modes and methods of payments are being developed to ease … Read more
Both Sukanya Samriddhi Yojana (SSY) and Public Provident Fund (PPF) are saving instruments that provide deductions under section 80C of the Income Tax Act. But like other investors you might have the question – Should I invest in SSY or PPF? The first thing that you need to keep in mind is that the purpose … Read more
What is Aadhar enabled payment system (AEPS)? It is an Aadhaar based banking solution enabling you to operate Aadhaar linked bank accounts and carry out transactions using nothing but Aadhaar number and authentication through fingerprints. It provides interoperability between customers and bank at point of sale (PoS) – for example a grocery shop- and ensures … Read more
Aadhaar is a proof of identity provided by the Government of India. It is not a proof of citizenship. After due information provided at specified centers a Unique number (UID) is provided to the person (basic demographic and biometric information). How and where should you enroll for an Aadhaar card?One desirous of enrolling should visit … Read more
There are a number of Indian sites that provide great personal finance advice. I have complied a list of the top 75 personal finance sites based on the ranking provided by Alexa. Please note that the statistics and the associated ranking provided by Alexa are an estimate but in general are a good indication of … Read more