5 money-related changes to know about in December

There are a few personal finance-related developments to be aware of in December, as they will have a direct impact on one's finances.

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PNB cuts interest rate on savings accounts: Check details

The interest rate on savings accounts with balances over Rs10 lakh has been cut to 2.85 percent by the bank.The lower rates will be effective from December 1, 2021, i.e., today.

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How to register for RBI Retail Direct scheme to invest in government securities?

Individuals who are retail investors are permitted to open an RDG account. An RDG account can be opened individually or in partnership with another retail investor who meets the conditions.

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Paytm launches card-on-file tokenisation with Myntra, Oyo, Dominos for online transactions

The card-on-file tokenisation facility will be available for all Paytm consumers and merchants, stated the press release. It is aligned with the Reserve Bank of India’s guidelines which said that “saved cards” feature won’t be allowed on a merchant network anymore.

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Bank holidays in December 2021: Get the full list here

Other than Christmas where banks across the country will be closed, there are a few state-specific holidays as well. Added to this, banks across the country will be shut on second and fourth Saturdays and on Sundays in December.

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Can uncle stake a claim to the entire ancestral property, including my father’s share?

Class I legal heirs can claim their share over the property along with other legal heirs, if any, in case the property is self-acquired and father died without a will.

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7 steps to form a smooth, effective succession plan for your business

A business succession plan is not just for large, listed companies or family-run businesses, as is the case with most businesses in India, but for any enterprise or set-up that employs people and generates wealth, even if it is small.

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10-point personal finance checklist for parents to ensure fair division of wealth among children

Parents should be impartial when it comes to providing for their children. Avoid hassles for your children by acting decisively, fairly and equitably when you bring them up, fund their dreams and aspirations and leave behind your estate for them.

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What are blockchain ETFs?

Blockchain tech enables companies that use it to cut costs and simplify their operations through decentralisation.

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Zensar Tech quoting at reasonable valuation compared to mid-cap IT firms: Why it's this week's stock pick

Zensar’s margin is expected to remain stable in coming quarters and its net profit is expected to zoom due to increasing revenues. Despite its improving revenue growth profile and deal wins, the company is on a growth path and a favourite of analysts.

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Stock market correction not far away: 9 warning signs, what equity investors should do

There are enough warning signs coming from the stock market and a full-fledged correction can’t be far away. Let us examine these warning signs and what they mean for retail investors.

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Does your business need succession planning?

The process of succession planning should begin not when the owner is at the fag end of his career or is ill, but well in advance. Start by identifying the direction that the business should take and the people who can achieve this.

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L&T Emerging Businesses mutual fund review: Showing uptick in performance

The fund has shown healthy performance metrics for large parts of its short history, apart from a blip in 2019 and 2020 but needs to regain consistency to emerge a good pick in this segment.

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MF portfolio doctor: Can Rao achieve retirement goal of Rs 1 lakh per month?

Chitra Rao is saving for her son’s education and her retirement. Here are the portfolio recommendations given on the basis of the performance of the funds, the risk profile of the investor as well as his/her financial goals.

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What are the types of heart diseases and costs of treating them?

In the first part of this new series on major illnesses with high prevalence in India, Riju Mehta tells you the cost of diagnosis and treatment for heart diseases, so that you can ensure adequate financial readiness.

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How gold, silver, platinum performed for week ending November 24, 2021

After a deep cut during last week, triggered by strategic oil release by nations, crude oil remained stable this week. Here’s a weekly tracker of returns from alternative investments.

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Will Paytm's disastrous listing impact the IPO market?

Analysts have assigned several reasons for the disastrous start for Paytm shares, including an over-optimistic valuation for a company deep in losses, the large size of the IPO and even a report released on listing day by equity research firm Macquarie.

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How to open RBI Retail Direct Gilt account?

Retail investors can now invest in government bonds via Retail Direct Gilt Account. Here's how to go about it.

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Should you invest in government bonds via RBI Retail Direct Gilt scheme? Here are the pros and cons

The new investment options offer another alternative to existing avenues like traditional insurances plans, small savings schemes. However, the alternate investment comes with certain advantages and disadvantages.

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Zomato, Nykaa IPOs were relative failures while Paytm was an amazing success: Here's why

Investors should pay less attention to business models and more to quality of management before parting with their money.

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How to save money when income is low

When income is low, the ability to save is also less. But trying to save 20% of one’s income is an ambitious target for a young earner. Here's what one can do to save when salary is less.

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Aadhaar-UAN linking deadline extended till November 30, two and half months after expiry of old one

In May 2021, the government made it mandatory for UAN to be linked with the Aadhaar number. This was done under section 142 of the Code on Social Security, 2020 through a gazette notification dated April 30, 2021.

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SBI warns against fraudulent customer care numbers, gives instructions to avoid getting scammed

The bank has been giving such advice to its customers from time to time. There have been instances where customers have been conned by calling a number mentioned on the google search.

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DSP Flexi Cap mutual fund review: A worthy bet in its category

The mutual fund scheme’s performance has been strong since the fund manager took up the reins five years ago. This consistent showing makes it a worthy bet in its category. The scheme has its inherent large-cap bias.

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Family finance: Rathods need to align investments with their money goals to achieve them

The couple's money goals include building an emergency corpus, taking a vacation, saving for their children’s education and weddings, and for their own retirement.

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What is the best way to use inheritance money, assets?

What should one do with the inheritance? Elders will say protect it and pass it to your children. But, then what is the point of inheritance, then? Here are 5 ways to best the bequeath.

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What's the role of an IPO? 5 things to know before investing

Many big name initial public offerings (IPOs) have hit the market and many more have been lined up for the coming few weeks and months. Here are smart things for equity investors to keep in mind.

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7 top fixed income investment options compared: Find out which suits you now

Falling interest rates and new tax rules have changed the fixed income landscape. Besides fixed deposits, other debt options have also given muted returns. The time horizon for when you need the money will define which instrument is suitable for you.

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Direct plans of mutual funds can yield 13.6% more: Why some investors still use regular plans

A straight comparison between direct and regular plans is somewhat unjustified as these are suited to different kinds of investors. There is no correct choice. Each investor has to figure out what they can do and what they need someone else to do for them.

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Bajaj Electricals stock price has fallen 28%: Here's what makes it stock pick of the week

In addition to cost control measures, Bajaj Electricals has increased its product prices by 12-15% in the second quarter and is expected to carry out more hikes in the third quarter. It is also benefiting from tailwinds from the booming consumer electricals space, making it a favourite of analysts.

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Expect lower returns from mutual fund SIPs in future: Here's why

Historical SIP returns are at higher levels. Returns generated by mutual funds schemes are better because of the stellar performance by the mid- and small-cap segments. How should investors react to these high historical returns?

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What is a total market index fund and should you invest in stocks via this type of mutual fund?

Till now, investors seeking broad market exposure under one umbrella could invest in any fund tracking the Nifty500 index, which, however, leaves out stocks belonging to the microcap segment. This is where the total market index comes in.

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To invest in IPOs, you can also take the mutual fund route

The current IPO craze has turned the stock market into a lottery, particularly for retail investors. The chances of getting allotment in target IPO are slim and even if you get it, the odds of hitting jackpot are poor.

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Does my son have same legal right to my ex-husband's property as his children from second marriage?

Here are this week's queries from our readers related to the division of property, assets etc. or who qualifies as legal heir under the law and others.

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Money & Relationships: When can father get full, partial custody of a child in case of divorce?

If there is no mutual consent over the child's custody between the parents, then the family court decides it as per the Guardians and Wards Act, 1890. Here are the conditions under which the father gets child custody.

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How to find your UAN

The EPFO has a portal where subscribers can view account details, download EPF passbook and carry out transactions such as withdrawal of funds or transfer of PF money from one employer to another.

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Should you continue with your endowment insurance policy?

Surrendering a policy would mean that a portion of the premium already paid will be refunded. If policy has been in force for some time, surrendering can be an option.

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Sensex falls 1000 points. What should equity mutual fund investors do?

The BSE Sensex fell more than 1000 points in the first half of Friday. The correction is seen as a direct impact of the detection of a new mutation of the coronavirus in some countries. The market pundits believe that the fall in the global markets is driven by ‘fear selling’.

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54% people don't want cryptocurrencies to be legalised in India: Survey

In the recent T-20 cricket World Cup, one in three advertisements were of cryptocurrencies, with platforms and exchanges trying to attract viewers, the report said.

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Rate hike: What should debt mutual fund investors do?

This increase in bond yields has impacted the returns from the shorter term debt mutual funds. Much of the yield variation is being attributed to a steep rise in crude oil price and normalization of liquidity operations by the RBI.

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ESIC scheme adds 13.37 lakh new members in September 2021

Around 13.37 lakh new members joined the ESIC-run social security scheme in September this year as against 13.42 lakh in the previous month. The latest data is part of a report released by National Statistical Office (NSO).

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Sebi lays down operating norms for silver ETFs

Under the norms, Sebi has specified guidelines on investment objectives of silver ETFs, valuation, determination of net asset value (NAV), tracking error as well as tracking difference and disclosure requirements.

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Trai proposes cutting USSD charges for mobile banking to zero

The USSD (Unstructured Supplementary Service Data) is a service that uses a short code for making transactions or inquiries. Since it does not need a data connection, the service is used by a large majority of people, primarily feature phone users, and is therefore also used as a medium for no-frills banking transactions.

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View: Two tremendous transitions too soon for digital payments industry

Industry players need a breather after recurring payments revamp. Given that extensive technological, operational and integrational aspects need to be developed, tested and deployed in the payments ecosystem, the RBI should consider a transitional timeline of 6-12 months for solutions such as tokenization to be implemented.

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World of phygital banking will be way forward: Bankers

City Union Bank Managing Director and CEO N Kamakodi said that though the older generations are much comfortable with the manual banking channel, many of them are now trying to use the digital channel also.

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UIDAI working to make smartphones as "universal authenticator": CEO

"We are looking at how the smartphone can develop as a universal authenticator. That is an area of work that is ongoing and we hope we will be able to proceed rapidly in that direction. It will help people to do authentication right from where they are living, staying etc," Saurabh Garg said.

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Traditional safe sectors are no longer safe. Where to invest in a volatile market?

“The growth of the Indian economy is where safety lies because there is the demographic dividend, the PLI schemes, the infrastructure push which with the coming Budget, would get a boost. I see that as a safety element, provided we have a medium term perspective,” says Sunil Subramaniam.

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No expense spared: Most Indians willing to spend over Rs 10K per person on year-end travel

The world of travel and tourism has a new order in place, post-pandemic.

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Volatilities can be ignored as they act as a noise to asset allocation: Lakshmi Iyer of Kotak Mutual Fund

The talk of an imminent rate hike is getting louder with each passing day. We reached out to Lakshmi Iyer, CIO-Debt & Head-Products, Kotak Mahindra Asset Management Company, to find out what’s in store for debt mutual fund investors.

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Patient investors can look at this global realty play

Real estate investment trusts (REITs) provide a natural hedge against inflation. Real estate rents and values tend to increase when prices do, in part due to the fact that many leases are tied to inflation.

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