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India Post: A look at various saving schemes
India Post offers nine types of saving schemes through its network of more than 1.5 lakh branches across the country. Most of these schemes offer a rebate under Section 80C of the Income Tax Act. Here’s a look at the schemes available: 1. Post Office Savings Account A savings account can be opened with Rs […]
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Government says EPFO, PFs can invest in Bharat Bond ETFs
The government has allowed EPFO and exempted provident fund trusts to invest in Bharat Bond ETFs. Despite an 8.5% interest rate declared by the EPFO for FY20, these ETFs have yields in the 4.5-6.6% range. Thus experts suggested a transfer of risk to subscribers rather than provident funds through unitisation. The government had launched four […]
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Post office savings account: Here’s all you need to know
India Post has various deposit schemes, which are backed by the central government. Among them is the savings account, which offers 4% interest per annum. The minimum balance required to be maintained in a savings account is Rs 500. If the account fails to maintain that amount, a maintenance fee of Rs 100 is charged […]
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HCL Tech Q3 results: Net profit up 31% to Rs 3,982 crore
New Delhi: IT firm HCL Technologies on January 15 posted 31.1% rise in net profit at Rs 3,982 crore for the December 2020 quarter. The IT major had registered a net profit of Rs 3,037 crore in the October-December 2019 quarter (as per US GAAP). Its revenue grew 6.4 per cent to Rs 19,302 crore […]
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COVID-19: IRDAI tells insurers to have agreement with health providers on treatment rates
New Delhi: Regulator IRDAI has advised general and health insurers to have agreements with health providers on rates for treatment of COVID-19 on the lines of other diseases. In a circular, the regulator said in case of ‘cashless claims’ under a health insurance policy, the claims should be settled as per the tariff decided by […]
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Top sectors to watch out in 2021
Indian equity market will continue to stay strong in 2021 with the likely recovery in the economy and earnings. The benchmark equity indices BSE Sensex and NSE Nifty had advanced nearly 16% last year after central banks expanded their balance sheet and interest rates declined sharply leading to a wave of liquidity globally. Overall, the […]
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Two-third of urban India backs Centre’s decision to regulate digital content
The Indian government recently announced its decision to bring digital audio-video content, including films and web shows on OTT (over the top) platforms, as well as online news and current affairs platforms under the ambit of the Information and Broadcasting (I&B) Ministry. Following the announcement, YouGov, a global market research and data company, conducted a […]
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Loan sharks are back in a new avtaar- digital lending apps
Vapi’s Ashwin Kumar( name changed) is caught between the devil and the deep sea. And this sea is infested with sharks. He draws a monthly salary of Rs 12,000. He was happy to become a father but his son had an ailment that required a monthly blood transfusion. An added cost of Rs 5,000 per […]
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Four ways of buying digital gold
Indians love splurging on gold. As a country, India is the largest importer of gold, with 800-900 tonne of gold imported every year, accounting for 25% of the global demand. The yellow metal is popular for many reasons. It not only provides capital appreciation and liquidity, but has also proved to be an excellent hedge during […]
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Why do you need an emergency fund?
An emergency never comes knocking at the door and the unseen blows hit you really hard. An emergency fund is a guard that helps you tide over a financial emergency. What is a financial emergency? Any unprecedented and/or unexpected event that either stops the stream of income or add pressure to your existing income creates […]
