Personal Finance News

Atal Pension Yojana achieves 2.23 crore enrolment in 5 years

Atal Pension Yojana achieves 2.23 crore enrolment in 5 years

New Delhi: The government's flagship social security scheme, Atal Pension Yojana (APY), has achieved the milestone of 2.23 subscribers as it completes five years of its implementation.Launched on May 9, 2015 by Prime Minister Narendra Modi with an objective of delivering old age income security, par...

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4 reasons that make term insurance a must-have

4 reasons that make term insurance a must-have

The lifestyle that we lead today is vastly different from only a decade ago. The dangers surrounding our lives have also increased significantly. It has become exceedingly crucial to purchase an insurance policy for protection against them. A standard and affordable life insurance policy is term ins...

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Housing becomes preferred asset class amid corona crisis: Report

Housing becomes preferred asset class amid corona crisis: Report

New Delhi: As the coronavirus crisis hits financial markets and other investment options hard, a survey by Anarock Property Consultants shows that more and more people now want to purchase residential properties.The survey also indicated that home-ownership is now a compelling priority for the mille...

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NAVs of 3 BOI AXA debt schemes fall on marking down of exposure

NAVs of 3 BOI AXA debt schemes fall on marking down of exposure

Mumbai: In another major fallout of the coronavirus crisis, the net asset values (NAVs) of three BOI AXA Mutual Fund's debt schemes plunged fell after the fund house announced the marking down of its exposure in seven securities across its portfolios.In a massive plunge, the NAVs of BOI AXA Credit R...

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Can Force Majeure affect Covid-19 death insurance claim? Insurance Council clarifies

Can Force Majeure affect Covid-19 death insurance claim? Insurance Council clarifies

New Delhi: Life insurance service provider cannot refuse to settle claims if death occurs due to coronavirus.  India's Life Insurance Council has asked all insurers to ensure that they are duty-bound to clear all insurance claims for deaths caused by Coronavirus.  In a statement, the counc...

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Private banks, NBFCs to continue EMIs, if not informed

Private banks, NBFCs to continue EMIs, if not informed

New Delhi: Unlike the public sector banks, customers of private banks and non-banking financial companies (NBFCs) would continue to pay EMIs on their term- loans unless an specific instruction is issued, as per the Covid-19 RBI package.Several private banks and NBFCs informed their customers on Wedn...

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Lockdown not likely to affect Reliance Jio, here's why

Lockdown not likely to affect Reliance Jio, here's why

Mumbai: Reliance Jio is likely to witness limited impact due to the ongoing 21-day nationwide lockdown, according to a report by Motilal Oswal."The lockdown should have limited impact on RJio as telecom companies are expected to see recharge upgrades given the increase in data consumption," it said....

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Specified G-secs to be opened for NRIs from April 1: RBI

Specified G-secs to be opened for NRIs from April 1: RBI

New Delhi: The Reserve Bank on Monday notified that some categories of government securities will be opened fully for non-resident investors, and will continue to be open for the domestic investors.At present, G-secs are not fully opened for subscription by non-resident investors.The RBI, in a notif...

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Gov Das tells banks to give Shakti to loan-borrowers: rates slashed, EMI-relief and 10 key things inside

Gov Das tells banks to give Shakti to loan-borrowers: rates slashed, EMI-relief and 10 key things inside

Mumbai: Governor Shaktikanta Das on Friday answered the anxious prayers of millions of banking customers in the country. In a major policy announcement crucial lending rates have been slashed by 0.75 percent to 4.4 percent. The monetary policy committee took a 4-2 decision to announce the cut in the...

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SBI waives AMB and SMS charges for 44.51 crore accounts

SBI waives AMB and SMS charges for 44.51 crore accounts

Mumbai: State owned lender SBI on Wednesday announced a waiver on maintenance of Average Monthly Balance (AMB) for all savings bank accounts and SMS charges for its 44.51 crore SBI savings bank accounts.  In a note, the bank explained, "Currently SBI Savings Bank customers’ needs to maintain AM...

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