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Not allocating adequately to equities, which can potentially beat inflation, is another error they must avoid
Career, travelling abroad and caring for ageing parents other important goals
Union Finance Minister Nirmala Sitharaman Wednesday announced a 'Mahila Samman Saving Certificate' with a fixed interest rate of 7.5 per cent for two years. The deposit can be made in the name of a woman or a girl child. The maximum deposit amount has been kept at Rs 2 lakh and the scheme will have a partial withdrawal facility as well. "One-time new small saving under 'Mahila Samman Saving Patra'. The deposit facility for the women and girls will be for a period of two years with a rate of interest of 7.5 per cent," Sitharaman announced. She also said that for the economic empowerment of women under the Deendayal Antyodaya Yojana National Rural Livelihood Mission, 81 lakh self-help groups have been created by mobilising rural women. "We will enable these groups to reach the next stage of economic empowerment through the formation of large producer enterprises or collectives with each having several thousand members," she said. Financial assistance of more than Rs 2.25 lakh crore
In FY22, savings stood at 7.3 per cent. This fall in savings indicates an increase in consumption
Rick talks about clients relating to him better because he had the courage to display his vulnerability and talk about the lessons learnt from his mistakes
Investments drive growth but how will investors get funds if the savings pile shrinks with no incentive to save in a negative interest rate regime?
They are a case of 'regulatory arbitrage' and could be risky for the country, says Nageswaran
The EPFO decides the rate of interest for the EPF scheme on a yearly basis. The rate of interest is dependent on the market conditions and is vetted by the finance ministry. Here's how to calculate it
The finance ministry has asked departments and ministries to surrender savings, if any, for the current financial year 2021-22 by March 21.
A professional consultant can help you choose investments and risk-mitigation measures, and implement them.
Deterioration risk in credit profile increases, and better rates may become available a year later
Inform your heirs about deposits and whereabouts of related documents so that they can make a claim
Inflation has breached the upper limit of the Reserve Bank of India's tolerance band at a time when the economy is growing below its potential
The survey, which was conducted among 1,396 worker groups, adding up to 8,023 people that included 4,836 women and children, showed that 76 per cent of the workers had less than Rs 200 left with them
This was driven by the national lockdown last year
Subscribers can withdraw the entire EPF corpus when they retire or when they have been unemployed for over two months
Savvy investors can expect to earn better returns by investing in alternatives
In a case of fraud, the National Commission found that a postal department had handed over a cheque meant for a couple to another person without an authorisation letter
While new online facility will make part withdrawal convenient, subscribers must exercise restraint
If you invest for the shorter-term now, you will be able to roll over to higher rates when the interest-rate cycle turns