Will PPF, Sukanya Samriddhi, Senior Citizen Savings Scheme, other small savings schemes' interest rates increase in December quarter?

The Central Government reviews the interest rates of small savings schemes every quarter based on the G-Secs yields of the previous three months. To know whether there will be a hike in post office schemes for the October-December quarter, you need to understand how the interest rates are calculated first. There are set formulae for mark-ups over the previous three months’ average yield of relevant G-Secs of comparable maturity. Find out what experts suggest.

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Has the last date to add nominee to mutual funds been extended?

Note that if the nomination is not registered within the timeframes, transactions such as Redemptions, SWP, Switch, STP will be frozen in the corresponding folios beginning October 1, 2023.

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No relief in Rs 10 lakh tax fine for not disclosing foreign assets

A recent order of the Mumbai bench of the ITAT, which upheld a penalty of Rs 10 lakh under the Black Money Act for each year of default, has created ripples.

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How rising oil prices can impact Indian economy

Stable demand, optimism due to China’s stimulation measures, and supply cuts announced by Russia and Saudi Arabia have led to a surge in oil prices. Sameer Bhardwaj analyses the impact on the Indian economy.

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Banks don't want you to overpay card dues

In a bid to curb efforts at money laundering and fraud, banks issuing credit cards are either blocking customers from paying an amount more than their current outstanding or refunding any excess amount paid into credit cards. A bank spokesperson said since a credit card is a lending product, not a savings account, customers are not allowed to park excess funds.

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It's your right to get refund from telcos within 3 months if overcharged

Telecom operators in India will have to reimburse customers if auditors find that they have been overcharged. The refund must be made within three months of the audit observation, according to new regulations from the Telecom Regulatory Authority of India (Trai).

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Children from void, voidable marriages are legitimate, can claim rights in parents' properties: SC

In a void marriage, no decree of nullity is required to annul the marriage. While, in a voidable marriage decree of nullity is required. The top court's verdict came on a 2011 plea pertaining to the vexatious legal issue of whether non-marital children were entitled to a share in the ancestral property of their parents under Hindu laws.

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Ensure nomination to tackle unclaimed deposits: Nirmala Sitharaman

Nirmala Sitharaman has called on banks and capital market institutions to ensure that all accounts have a designated nominee to address concerns over rising unclaimed deposits and investments due to death. Sitharaman also urged fintech companies to lead in the cross-border payments system, given India's market size.

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IRDAI allows for modification of withdrawn life insurance products to benefit policyholders; 4 key provisions

The primary goal of this circular is to give existing policyholders more flexibility while protecting their interests. IRDAI has approved changes to withdrawn life insurance policies that will benefit existing customers

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2 in 5 Indians yet to start retirement planning, 61% worry savings will deplete in 10 years: Survey

The survey was conducted by Max Life Insurance, in partnership with Kantar. As many as 2,093 respondents were surveyed in 28 cities during July-August 2023. The retirement index is calculated on a comparable base of 1,591 respondents.

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Children from void, voidable marriages are legitimate, can claim rights in parents' properties: SC

In a void marriage, no decree of nullity is required to annul the marriage. While, in a voidable marriage decree of nullity is required. The top court's verdict came on a 2011 plea pertaining to the vexatious legal issue of whether non-marital children were entitled to a share in the ancestral property of their parents under Hindu laws.

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