Gold loans: The Reserve Bank of India (RBI) is preparing to implement stricter underwriting standards for gold loans, urging both banks and non-bank financial institutions to enhance their background checks on borrowers. This initiative aims to ensure that financial entities adhere to standard protocols amidst a 50% rise in gold loans since September 2024, news … Read more
Investing in mutual funds: The stock market is experiencing a significant correction, especially in the small and mid-cap segment, commonly referred to as SMIDs. Many investors who had enjoyed substantial gains in these areas were taken by surprise as prices took a sharp downturn. The BSE Small-cap and Mid-cap Indices have seen notable decreases, with … Read more
Mumbai | Kolkata: Non-banking finance companies (NBFCs) sought a higher external commercial borrowing (ECB) limit in their first meeting with Reserve Bank of India (RBI) governor Sanjay Malhotra on Thursday, along with easier asset classification for alternative vehicle financing, freer use of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) … Read more
Awareness regarding retirement planning is on the rise in urban India as more individuals are recognizing the importance of starting early. For those seeking to maximise their returns, transferring funds from an Employee Provident Fund (EPF) account to a National Pension System (NPS) account could prove to be a game-changing decision. While transferring funds from … Read more
Budget expectations: The upcoming Union Budget for 2025, scheduled to be announced on February 1, is anticipated to bring forth reforms to bolster the expansion and reach of the insurance industry in India. Given the sector’s upward trajectory in recent times, industry experts are optimistic about initiatives that could promote financial inclusivity and stability. Insurers … Read more
In the past, I made it a point to allocate funds equivalent to at least 6-12 months of my expenses as an emergency fund. However, over the last 4 years, there were instances where I only managed to save up to 3-4 months’ worth in a liquid fund or Fixed Deposit. Unfortunately, unforeseen expenses arose, … Read more
As a parent of a 6-month-old child, I am currently exploring the most effective way to save for my son’s education in the future. My objective is to set aside Rs 10,000 per month for the specific purpose of covering his school fees, which will begin when he reaches 3 or 4 years of age. … Read more
In the event of a separation, a major consideration for couples is the equitable division of assets. However, prior to contemplating divorce, it is advisable for couples to collaboratively invest in and accumulate assets in their marriage. Doing so can foster stability in the relationship and safeguard the well-being of both partners and their children. … Read more
My spouse (31 years old) and I (33 years old) have a combined monthly income of Rs 500,000 working in the IT industry. We currently reside in Bangalore on a rental basis, paying Rs 55,000 per month. Additionally, we have a house in Hyderabad with a monthly EMI of Rs 125,000 on a home loan … Read more
Fixed deposit rates: Despite the ongoing fluctuations in the global financial landscape, fixed deposits (FDs) remain a favoured option for conservative investors in India who prioritise stability and reliable returns. Whether aiming for short-term parking of funds or strategizing for long-term investments, numerous banks in the country offer appealing fixed deposit rates. A fixed deposit … Read more