On 13th May 2020, the Government announced a reduction in the EPF contribution rate from 24% to 20% of the salary, for private sector firms, for the next three months. As a consequence of this change, it is believed that employees will be able to benefit from a higher take-home salary and employees will be…
Employees’ Provident Fund (EPF) and Public Provident Fund (PPF) are the two most popular retirement saving schemes in India. Since both are government backed and long-term retirement products, there is a lot of confusion among the investors regarding these investment products. Therefore, if you are planning for building a large retirement corpus, it becomes important…
The Pradhan Mantri Jeevan Jyoti Bima Yojana was started by the then Finance Minister, Mr. Arun Jaitley in the annual financial budget of 2015. The scheme was actually launched by the Prime Minister, Mr. Narendra Modi in Kolkata considering the fact that as of the mentioned year (May 2015), only 20% of the country’s population…
An Aadhaar Card is a 12-digit unique identification number which is issued by ‘The Unique Identification Authority of India (UIDAI)’ and is considered to be one of most important documents for verifying the identity of Indian Citizens. It contains both the demographic and biometric details of the cardholder. Moreover, an Aadhaar Card is used to…
Due to the nationwide lockdown, the SBI Card, today launched a video-based KYC (Know Your Customer) feature also known as the VKYC feature. This feature offers a zero contact, simple customer on-boarding procedure, and digital banking experience. However, as per the guidelines of Reserve Bank of India to make the process safe and secure for…
The banking sector in India is making crucial changes in banking mechanisms by introducing digital means of accessing financial and non-financial services. Mobile banking and internet banking have undergone a prolific growth with instant payment systems and much more. Top banks in India have launched not just intuitive but also very interactive and innovative mobile…
The Government has asked telecom service providers to get their customers’ mobile numbers linked with their Aadhaar by February, 2018. Those numbers that will not be linked with Aadhaar post the deadline will be deactivated. This step is taken in light of the order passed by the Supreme Court in February in the Lokniti Foundation case….
