The interest on the small savings scheme for the quarter July-September 2020, remains unchanged. The interest rates on small savings schemes basket comprise 12 instruments including the National Saving Certificate (NSC), Public Provident Fund (PPF), Kisan Vikas Patra (KVP), and Sukanya Samridihi Scheme will be the same as the previous quarter April-June 2020. The current…
Sovereign Gold Bond Scheme 2020-21-Series III will be opened for subscription for the period from June 08, 2020 to June 12, 2020 as per RBI press release today. As per the notification, the issue price of Gold Bond will be ₹4,627/- (Rupees Four Thousand Six Hundred and Twenty Seven only) per gram of gold. The…
Pursuant to Finance Ministry modified the PM Vaya Vandana Yojana (PMVVY) pension scheme for senior citizens, Life Insurance Corporation of India (LIC) has launched the non-linked, non-participating, pension plan subsidized by the Centre. The scheme will provide an assured rate of return of 7.40% per annum. This plan will be available for sale commencing from…
Today (April 27, 2020) Reserve Bank of India announced ₹50,000 crores of special liquidity facility for mutual funds. This was in view of liquidity constraints faced by the Mutual Funds intensified in the wake of large redemptions and high exposure to low-rated illiquid debt securities. The move follows in a bid to support mutual funds…
Reserve Bank of India publishes dates of 6 tranches of Sovereign Gold Bonds from April 2020 to September 2020 as per the calendar specified below. S. No. Tranche Date of Subscription Date of Issuance 1. 2020-21 Series I April 20-24, 2020 April 28, 2020 2. 2020-21 Series II May 11-15, 2020 May 19, 2020 3.…
Retirement is like a long vacation in Las Vegas. The goal is to enjoy it to the fullest, but not so fully that you run out of money –(Jonathan Clements). Retirement can be great joy all through your life if you have sufficient money to spend. One of the greatest difficulties after retirement you may…
A debt fund is a mutual fund scheme where the money is predominantly invested in fixed-income securities like government securities, debentures, corporate bonds, commercial papers, and other money-market instruments. The issuer of debt instruments pre-decides the interest rate you will receive as well as the maturity period. Hence, they are also known as ‘fixed-income’ securities.…
The Government of India notified new rules for the PPF scheme called ‘Public Provident Fund Scheme 2019’, which has replaced all previous rules in respect of deposits, loans, and premature withdrawal, with immediate effect. The following are important changes made in the revised PPF rules. Under the new rules, the amount in the the PPF…
(This article analyses different scenarios where top-up or super top up plans are useful) The Top-up plan of health policy covers hospitalization expenses when a single hospitalization claims that exceed the base policy. You cannot make a subsequent claim under the top-up policy when sum available under base policy is exhausted. In other words, the…
Of-late, complaints against health insurance companies have gone up largely on account of dissatisfaction with claim settlement. This is mostly because customers are unaware of common features in health insurance policies that relates to sub-limits. Normally, almost all health insurance policies have specific cap called sub-limits to the sum insured under which the insurer will…