Fixed deposit is a conventional financial instrument that allows a common man to earn higher interests on his hard-earned savings. Most savings accounts offer interest at 3.5 – 4% p.a. whereas fixed deposits can provide interest at a rate of up to 9% p.a. Money deposited in fixed deposit schemes carries low risk and the…
The Cabinet approved the Aadhaar ordinance that allows people to voluntarily furnish their 12-digit biometric identification number to open a bank account or buy a new mobile SIM. Currently, private entities are not allowed to use Aadhaar details for providing different services as per the Supreme Court’s judgement on Aadhaar on 26th September 2018. The…
UIDAI, the 12-digit Aadhaar issuing authority, provides a number of facilities to empower the government to carry out tasks of the service delivery system efficiently and without much delay. Aadhaar-enabled Payment System is one such system through which bank account holders can withdraw, deposit and transfer funds from their bank accounts with the help of…
The Income Tax Department has changed the design of the PAN card. It has made a few additions to it to make it more user-friendly and secure. The IT Department has started providing new PAN cards post July 7, 2018. It is worth noting that PAN cards issued prior to the aforementioned date will also…
PAN (Permanent Account Number) is a unique 10-character code assigned to each entity carrying out financial activities in India. It also acts as a valid proof of identity for various purposes such as all financial transactions above ₹ 50,000, mutual fund investments, buying properties and other such activities. Are there incorrect details in your PAN…
As per media reports, the Cabinet has approved the merger of Dena Bank and Vijaya Bank with Bank of Baroda on 2nd January 2019. This merger will be effective from April 1st 2019. Once combined, Bank of Baroda will become second largest public sector bank of the country. The government has announced that there will…
Have you lost your Aadhaar card? Do you want to get a reprint of your Aadhaar again? If your answer to these questions is in affirmative, there is good news for you. You can now get the Aadhaar card reprinted again. Earlier, if one lost his Aadhaar card hard copy, he had to download e-Aadhaar…
The government made a plan to give Indian residents a unique identity a decade ago. UIDAI, the body authorized to carry out this task, has generated Aadhaar card for more than 123 crore residents of India as per the data published on its website. The government asked people to link their Aadhaar cards with a…
The Central Government has decided to pay for the employer’s contribution towards EPF and EPS accounts of the members to boost job creation in the formal sector under the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY). However, this facility can be availed for only three years by the employers. Even if an employee changes his job,…