The Finance Ministry, Government of India decided not to change interest rates on small saving schemes such as National Saving Schemes (NSS), Public Provident Fund (PPF) and Kisan Vikas Patra (KVP) for the quarter beginning from January 1st to 31st March 2020.The announcement covers small-saving schemes such as the Post Office Saving Accounts, Post Office…
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 exceeds the base policy. You cannot make subsequent claim under top-up policy when sum available under base policy is exhausted. In the 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…
The Reserve Bank of India made the announcement of issuance of the Sovereign Gold Bond Scheme 2019-20 Series on various dates in tranches starting from tranche series V to tranche series X. In the notification dated October 3, 2019 RBI indicated dates the Bond issued to the investor of every tranche. Accordingly, the Bond issue…
Financial Inclusion refers to the process of financial access to all including those hitherto un-served poor population of the country. The major financial schemes launched by Government of India are Jan Dhan (PMJDY), Mudra loans (PMMY), Stand-up India, Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Atal Pension Yojana (APY),…
Latest edit: October 13, 2019: The ‘Pradhan Mantri Vaya Vandana Yojana ’ has been launched by the Government of India on May 4, 2017. LIC of India has been mandated to operate the scheme. The policy under the scheme was initially open for a short period of one year and was then extended to 31…
Atal Pension Yojana (APY) was launched on 9th May 2015. The Savings Bank account holder in the age group of 18 to 40 years in any bank or post office is eligible to subscribe at Atal Pension Yojana (APY). The subscriber has to make monthly contributions of the defined amount until he or she is…
The Government of India has announced issuance of the Sovereign Gold Bond Scheme 2019-20 Series in tranches starting from tranche series V to tranche series X every tranche which will be indicated on the Bond issued to the investor. Calendar of Issuance is as under: S. No. Tranche Date ofSubscription Date of Issuance 1…
The Reserve Bank of India, in consultation with the Government of India, issues Sovereign Gold Bonds from time to time in tranches. These bonds are a substitute for holding physical gold. Each of those tranches will be kept open for a specified period for investors to buy through banks, Stock Holding Corporation of India Limited…