The Mahila Samman Savings Certificate (MSSC) and the Sukanya Samriddhi Yojana (SSY) are two financial schemes designed to cater primarily to the savings needs of women and girls. The MSSC is a short-term savings option aimed at providing a risk-free investment avenue with stable returns. On the other hand, the SSY, launched in 2015 under … Read more
Query: I strongly believe in the benefits of SIP and SWP. Currently, I am investing Rs 10,000 per month and expecting a return of 12% per annum. My plan is to continue this investment for the next 20 years, with an annual increase of 10%. I am 40 years old and am considering this approach … Read more
The NPS Vatsalya scheme, announced in the Union Budget 2024, is expected to be officially unveiled by the latter part of September. Positioned as a modified iteration of the National Pension System (NPS) for government and private emplpoees, NPS Vatsalya is envisaged to serve as a pivotal financial instrument, providing parents with a reliable avenue … Read more
Budget NPS scheme: Finance Minister Nirmala Sitharaman unveiled the NPS Vatsalya scheme during the Budget 2024 address, an initiative focusing on cultivating long-term savings habits for minors. This scheme, a specialised version of the National Pension System (NPS), that offers parents and guardians the opportunity to kickstart retirement savings for their underage dependents. By opening accounts … Read more
Public Provident Fund account: Introduced in 1968 under the National Savings Institute of the Finance Ministry, the Public Provident Fund (PPF) scheme was brought in to promote long-term savings and investments for retirement planning. Considered as a prudent financial instrument for individuals averse to high-risk investments, the PPF scheme offers a blend of security, reasonable … Read more