There are a lot of co-operative banks in India and so long that we are just used to them being there. Have you ever paused and thought why India has so many co-operative banks? Are they essential for the economy? Are they vital for democracy? If so, you’ll
I am a tuition teacher, I don’t need to file income tax. I am just a middle-class woman earning some money from my home kitchen, surely, I don’t need to file income tax. If you can relate to these statements then it’s probably time, we enlighten you on
If your credit score is low that affects your financial standing, therefore a good credit score is in your best interest. There are important factors that is looked at before credit is attained. Banks and NBFCs do consider certain crucial financial aspects before sanctioning any type of credit
The Reserve Bank of India (RBI) launched the Ombudsman Scheme for Digital Transactions (OSDT) vide a notification dated 31 January 2019 for redressal of complaints against ‘system participants’ as defined in the said scheme. It is an expeditious and cost-free apex-level mechanism for resolution of complaints regarding digital
The importance of travel insurance for overseas travel for students is often overlooked by students as well as their parents. If you are a student who is planning to go abroad for studies or you are a parent of such a student, then you should know that student’s
People who are going abroad or opting for international travel often wonder whether they can opt for overseas travel insurance for pre-existing conditions. Well, the answer is yes. You must opt for overseas travel insurance even if you have pre-existing conditions. Here is a list of things you
Students and parents of students who are going abroad often wonder how to find health insurance for international student travel. If you are also worried about this, then you should read on. Here are a few simple steps you can follow to pick the best possible insurance option
Death, taxes and childbirth! There’s never any convenient time for any of them.
~ Margaret Mitchell
You may not have made resolutions and lifestyle changes in the New Year, but your financials for sure will undergo a few impacting alterations. Although the finance ministry may not have made significant
A chit fund is an arrangement where a set number of people come together to contribute a fixed amount at intervals. This forms a pool or a kitty. During the process of collection, any member can draw a sum through ways like a lucky draw, an auction or
A 72-year-old cardiologist had filed a complaint against Jet Airways for rescheduling his flight without informing him. The court has ordered the airline to pay Rs 25,000 as compensation and also return the booking amount with nine per cent interest from the date of payment.
Complainant Dr Nautej
If you are new to the world of online payments, then you must know what is e payment, what e payment services are available today and the types of e payment system. This information will help you to do your online transactions smartly and safely.
What is E
If you are an Indian consumer who often wonders is it safe to shop online with a debit card then you should know the answer is yes. You just need to ensure that you become a smart person and avoid pitfalls that can compromise your financial information and
If you have never used a debit card before and you have questions like how to use a debit card online or how to use a debit card online safely, then you must read on. Here you can know the basics of debit card use and learn valuable
Online banking has made it possible for customers to do simple tasks like accessing their savings account anytime, keep track of their account balance, get e-statements, pay bills online, shop online, transfer funds and much more in under a few clicks and within a matter of minutes.
In simple terms, online banking or internet banking is the means to manage money online or through your mobile or computer. An online bank offers customers just about every service traditionally available through a local branch, including deposits to online bill payment. Banks pay a leading role in
The Government of India has introduced the Amendment Bill to facilitate orderly growth of the chit funds sector and to remove the bottlenecks being faced by the sector. It is also expected to enable greater financial access for people (consumers).
Amendments are being made to sections 2, 11,
Liquid funds are short termed income schemes that invest in money market instruments such as government securities, treasury bills among others. If you have idle money in your account, it is best to invest it in a liquid fund for short time periods.
Let us take an example,
Liquid funds are best for those who are looking for short-term investment avenues. Instead of keeping it in a savings bank account, you can invest that recent bonus which you received in a liquid fund. In this case, you want to know the parameters of choosing the best liquid
Liquid funds are mutual funds that invest your money in short-term market instruments such as treasury bills, government securities, commercial papers and term deposits. These funds have low maturity period (3-6 months) and you can save money for example your child’s school fees. It is a low-risk instrument
If you have been cheated by any ponzi scheme, then it is important to file your complaint. But many investors are not sure where and how to lodge a complaint.
You can file a formal complaint in the official site
According to RBI, this website is meant to
As a wise man once said, ‘there is a sufficiency in the world for man’s need but not for man’s greed.’ Probably this thought defines why ponzi schemes continue to flourish across the world despite the unearthing of various scams and the resultant bad press. While the one
A Ponzi scheme is an investment fraud that promises quick, easy, and significant returns on investments with little or no risk. Ponzi schemes are also known as pyramid schemes they pay existing investors out of the money invested by new investors. These schemes require a constant flow of
‘Why should I keep paying for a product that does not give anything in return?’ is a common question that people ask insurance advisors. Not everyone can appreciate the fact that one pays a premium because there is a guarantee that if something untoward happens to him or
It is a fact that most people spend lavishly when they are earning well and don’t think about their financial future. As a result, they end up with a lot of debt when their earnings reduce due to reasons like retirement. A sure shot way of preventing yourself
The Right to Information Act (RTI) is considered to be one of the strongest pieces of legislation as it gives citizens the power to question public authorities and their activities, thereby not only promoting transparency, but demanding accountability as well. A normal citizen can keep an eye on
Lately, ‘payment banks’ have been a lot in the news. What exactly are these ‘banks’ and are they going to be any different from the regular banks? Who are their primary target customers? What is their future likely to be in the banking system? Will they be allowed to stay independent
The digitalization wave has hit India, and the Indian government is also not untouched by it. Thanks to digitalization, the government has thought of compiling a single central database that will collect and store information of all the citizens in one place. The result of this thinking is
Adhar card is a way of life in India now. to make things easier, all information is available online and there is a provision to download e-adhar card. This article is all about – how to download an e aadhar card, how to get e aadhar, and how
It is a well-known fact that a few years after you start your professional life, you start coming across terms like retirement planning, best retirement plans, the best retirement age and retirement benefits. If you are also listening to these terms a bit too often and you are
Almost every Indian dreams of having his or her own home. If you are among them and you aren’t able to afford one till date, then you should know of Pradhan Mantri Awas Yojna home loan assistance scheme which will make your dream of owning a home in
When people think about applying for Pradhan Mantri Awas Yojna, they often wonder where they can get Pradhan Mantri Awas Yojna Bank List. If you are also wondering the same, then you should be happy to know that there are more than 80 banks that will help you
Some cooperative banks are older like their peers in the commercial banking sector. There are cooperative entities as old as 1906 & later, who first ventured into the cooperative sector as a cooperative credit society serving limited clientele in the agricultural sector with limited membership holding shares. Later
Cooperative banks have limited branches in the country. They are mostly concentrated in the States where they were originally established by some distinguished farmers or socially-committed Samaritans after obtaining license from the RBI. It has been seen that as the coop banks cater to a particular community who
What are Cooperative Banks in India?
Cooperative Banks are registered under State Laws and primarily cater to rural poor & agriculturists. They provide term credit to agriculture & obtain refinance/concessional interest from RBI. All Cooperative Banks are governed by Banking Regulation Act. They have limited scope in
Every entity that is registered under GST needs to file a GST return. Even if an entity fails to make a purchase or sales in the given period, it still needs to file a Nil return. If you are curious to know the GST return filing procedure or
GST stands for Goods and Services Tax that is levied by the Government of India. Since its inception, it has been surrounded by a lot of buzz. If you are also curious to know about it then here are a few FAQs that may help you get all
GST stands for the goods and services tax. It is mandatory for every dealer with a turnover of INR 20 lakh (10 lakh in some states) to register for GST. If you fall under that category, then you should know the process of GST registration online, fill the
“Swasth Bharat, Samriddha Bharat”
What Is Ayushman Bharat Yojana (ABY)?
This scheme aims to cover over 10 crore poor and deprived rural families as well as families of identified occupational categories of urban workers (as per the latest
Beware of Additional GST on MRP and Discounted MRP Levied by Unethical Retailers
GST stands for Goods and Services Tax, and it is a combination of state, and Central taxes levied on goods and services. Some retailers are levying GST on MRP or discounted MRP as an unethical
National Pension Scheme or NPS scheme is an initiative of the government of India. It is a contribution-based pension scheme that allows a person to create a retirement corpus. Men and women can use it as a saving-investment or post-retirement tool. It was earlier created for government employees
What you need to know before you start investing in a unit linked retirement plan?
Unit linked life insurance plans are different from traditional insurance plans (endowment/participating) and are subject to different risk factors.
Premiums paid in unit-linked life insurance plans are subject to investment risks associated
In March this year, in what was a landmark judgement, the highest court of the country allowed ‘peaceful death’ (passive euthanasia in medical terms) of terminally ill (vegetative state) patients when according to medical advice the patients are in ‘coma’ or in a state of condition where their
Why do you need a Top up Medical Insurance Plan?
You have not yet taken any health insurance policy.
You do have a basic/regular medical insurance policy with, say, X company but this company does not provide a top up cover.
You have a medical insurance
Various surveys point out that the majority of households prefer to park their money in bank deposits, with less than 10 per cent opting for investing in mutual funds or stocks. Why? Because consumers believe that investing in bank fixed deposits is one of the safest and oldest
A bank has a relationship of fidelity with its customers and it cannot share their personal information or financial statement with anyone else, the Delhi State Consumer Commission said while holding a private bank, HDFC, guilty of deficient service by providing account details of a woman to her
The consumer forum in Bengaluru has directed the Chief Regional Manager, Railways, to shell out Rs 6,500 as compensation for serving a dosa with an iron screw in it, to one (retd) Col. RC Gupta. The consumer forum comprising president T Shobhadevi and member V Anuradha said that
Taxes are an essential part of the Indian economy. All people, companies or entities who earn more than a specified income are bound to pay taxes to the government which enables the government to earn revenue and let a taxpayer enjoy some basic facilities. If you are also
Permanent Account Number is an important document that comes in handy while doing any transaction be it opening a savings bank account or applying for a debit card. It allows the income tax department to track the income of any individual, company, Hindu Undivided Family or any other
The Indian Railways cannot be blamed for a chain-snatching incident if the ‘miscreant’ is outside the train compartment, the National Consumer Disputes Redressal Commission (NCDRC) said while quashing lower-fora orders holding it responsible for the loss to a passenger.
The NCDRC’s observation came on a revision petition by
The Food Safety and Standards Authority of India (FSSAI) has issued a warning that currency notes and coins can cause infection and diseases. The unhygienic and careless handling of currency notes and coins is the reason for infection. The FSSAI has directed the food safety commissioners to organize