BUSINESS
Cyber frauds: How to avoid losing money to fraudsters
The chances of recovering lost money due to cyber fraud are low. Take precautions instead, like avoiding clicking on links shared on SMSs and emails without first verifying the sender’s authenticity.
BUSINESS
Pre-Budget wishlist: Give greater flexibility to the self-employed to switch between old and new tax regimes
Self-employed individuals can switch between the old and the new tax regime only once in their lifetime. The flexibility to make this choice every financial year would help those with varying annual incomes, say experts.
BUSINESS
Year-end special 2023: RBI initiatives cheer bank customers in 2023, but credit card holders contend with fewer benefits
Yearender 2023: From launching the UDGAM portal for unclaimed deposits to instructing banks on timely return of property documents to borrowers, the central bank initiatives made life easy for bank customers. RBI’s stance on interest rates will be keenly watched in 2024, with some market watchers expecting reduction in rates from the second half of next year.
BUSINESS
SEBI extends Dec 31 deadline for mutual fund and demat account nomination
Now, investors have time until June 30, 2024 to complete their nomination. That is, they must either select a nominee or opt out of nomination for their mutual fund folios and demat accounts by the due date.
BUSINESS
Sebi extends mutual fund nomination deadline to June 2024
Failure to complete nomination for your mutual fund folios by June 30, 2024 will result in them getting frozen for debits. So, if you haven't already done it, now is the time to get started. Here's how.
BUSINESS
60% borrowers worry about lending apps collecting their personal data, shows Home Credit’s latest survey
Residents of smaller cities appear to be the most worried about their data being collected and used by lending apps.
BUSINESS
IRDAI’s higher surrender-value proposal is good for policyholders, but a double-edged sword
Lower surrender charges would put more money in the hands of policyholders who were either mis-sold policies or couldn’t keep paying annual premiums. But those who choose to continue paying premiums till the end of the tenure could see their returns squeezed.
BUSINESS
LIC IDFC FIRST credit card: A Moneycontrol review
Though the card offers extra reward points for LIC policy premium payments, the reward rate is not very lucrative. Also, most benefits offered are available with other credit cards, too
BUSINESS
Want a lower interest rate on your home loan? Here’s how you can get it
You can negotiate with your bank for a reduction in interest rate on your existing home loan. The bank will charge you a fee for this so use an online home loan refinance calculator to figure out what you will save.
BUSINESS
Plan to save tax by investing in spouse’s name? That could spell trouble
You can use your income to buy an asset for your spouse. But any income from that asset will be clubbed with your income and taxed accordingly. This can’t be taxed as part of your spouse’s income. Doing so can get you an income tax notice.
BUSINESS
Cyclone Michaung: Car insurance policy will cover cost of most damage, but not engine malfunction
Unless you have opted for engine protection add-on cover along with your insurance policy, any damage to your car engine will not be covered by the insurer. Such damage can happen if you attempt to start the engine while the car is submerged in water
BUSINESS
RBI MPC: Limits for UPI transactions, e-mandates for recurring online payments raised
RBI MPC meeting: Higher limits for select UPI transactions and e-mandates for recurring payments such as mutual fund SIPs, insurance premiums and credit card payments will offer ease of transactions to customers.
BUSINESS
Why couples need to talk about managing money | Simply Save
Most couples end up discussing all personal matters but money. But given that disagreements over managing finances can turn out to be a big stumbling block, it’s best to have these discussions sooner rather than later. In a conversation with Moneycontrol, Pratibha Girish, a Certified Financial Planner and Founder, Finwise Personal Finance Solutions explains why it’s important for couples to be clear on how they plan to manage money together. Listen in
BUSINESS
Managing money as a couple: Should it be done jointly or separately?
From splitting expenses equally, to one partner taking charge of expenses while the other takes care of investments, there are many ways for couples to manage their finances jointly. A harmonious approach, coupled with an understanding reached soon after a couple weds, can result in a frictionless life together.
BUSINESS
Meet The Millennials Who Foot Their Own Wedding Bills
Increasingly, many young couples are moving away from ostentatious weddings to carefully planning the ceremony on a decent budget entirely footed by them. These couples don’t want to burden their parents. It is still a small number of couples, but it’s growing
BUSINESS
Are Indians retirement ready? 67% say yes, but there’s a catch, PGIM India MF Survey shows
Bank fixed deposits, annuities and insurance products are the first choices of investments by those planning to retire. Only 10 percent of those surveyed sought the help of registered investment advisors
BUDGET
Budget 2024: Filing tax returns now easier but capital gains tax rules continue to be a pain point
Budget 2024: The government has made the process for filing returns easier and accessible, but more reforms are needed, particularly with respect to long term capital gains tax. Also, over the last decade filing returns has become completely automated but getting timely redressal remains an issue.
BUSINESS
Personal Finance: How many credit cards do you really need for maximum benefits?
Lifetime free or not, credit card experts we spoke with said it does not make sense to have a multitude of cards
BUSINESS
RBI’s tightening loan norms will not impact borrowers in near-term
Higher risk weights mean that banks and NBFCs will have to set aside more capital for every such loan they extend. The days of easy credit may well become a thing of the past.
BUSINESS
This wealth manager says even risk-takers must invest in debt funds. Here’s why
"Currently, we feel interest rates have topped out and that medium- and long-duration debt funds will do well for the next few months," says Kirtan Shah, MD - Private Wealth, Credence Family Office. According to him, these are the most appropriate debt options for non-retail investors, provided they understand the interest rate cycles.
BUSINESS
Have online bond platforms really brought bonds to the doorsteps of retail investors | Simply Save
Online bond platforms have made investing in bonds easy and accessible to all. But has this made a difference? In a conversation with Moneycontrol, Vibhor Mittal, COO of Aspero, an online bond platform, says, such platforms have brought in greater transparency and easier access but demand from retails investors remains small.
BUSINESS
Thrift and Spendthrifts: Meet the Gen Z who know the ABC of investment
The Insta generation is just about getting used to financial independence, thanks to their first salaries. While some choose to spend like there’s no tomorrow, others have their sights on growing their wealth. Parental habits and increased financial literacy help them tilt towards savings.
BUSINESS
Dhanteras 2023: Why Indians like buying gold
Dhanteras 2023: Some buy gold on occasions such as Diwali and Dhanteras, while others buy it when prices are attractive or in a bid to collect gold for their children’s wedding. But is investing in gold a good bet?
BUSINESS
Fixed deposit platforms make investing easy, but limited offerings a drag
Online platforms offer the convenience of investing, but the choice may be limited to select fixed deposits. Also, if you want to invest only with larger banks, online platforms may not be an option
