Author: Naresh Saini

Saving money when your income is limited might feel overwhelming, but it’s not impossible. With the right financial habits and a clear plan, you can set aside money every month, no matter how small the amount. Building a savings habit can lead to long-term financial security and a stress-free future. If you’re looking to save on a low income, here are some simple and effective strategies to start today. Start with a Budget and Stick to It The first step in saving money is creating a monthly budget. On the first day of the month, review your income and note…

NPS Vatsalya is a new pension scheme designed specifically for children, aiming to help parents invest for their child’s future. Launched as part of the National Pension System (NPS), this scheme converts into a regular NPS account when the child turns 18. But is it the right choice for your child’s future financial security? Let’s take a look at the advantages and disadvantages of this scheme to help you decide. What is NPS Vatsalya? NPS Vatsalya allows parents or guardians to open an account in the name of their child. The main idea behind the scheme is to promote long-term…

Are you thinking about how to generate a stable income after retirement? If you’ve been saving through the National Pension System (NPS), now might be the perfect time to lock in your investment for an annuity plan. The current market offers high interest rates, making it an excellent opportunity to ensure a steady monthly income throughout your life. With annuity plans, you can guarantee fixed returns for the rest of your life—even if interest rates drop in the future. Why Now Is the Best Time to Buy an Annuity Interest rates fluctuate, but at present, they are relatively high. This…

For pensioners, submitting the Jeevan Pramaan Patra (Life Certificate) is an essential process to ensure that their pension continues without any interruptions. Previously, this required visiting the bank branch or a Common Service Center (CSC) physically, but now, pensioners can complete the process from the comfort of their homes. Thanks to advancements in technology, they can use video call services to submit their life certificate online. In this post, we explain how to easily submit your Jeevan Pramaan Patra using the State Bank of India’s (SBI) video call service and other available options. What is Jeevan Pramaan? Introduced by the…

If you’re planning for retirement and looking to increase your pension fund, the National Pension System (NPS) offers a simple yet effective way to do that. With an annual top-up feature similar to SIP (Systematic Investment Plan) top-ups, you can significantly boost your pension and lump sum at retirement. By gradually increasing your monthly contributions every year, your retirement savings could grow three times more than a standard fixed investment. Let’s break down how this works and why it’s worth considering, especially if you start young. What is NPS? The National Pension System (NPS) is a government-backed retirement scheme designed…

India offers a range of government healthcare schemes that provide free treatment for families across various states. With coverage up to Rs 5 lakh, these programs aim to make medical care affordable and accessible to millions of citizens. From the nationwide Ayushman Bharat scheme to state-specific programs like Delhi Arogya Kosh and West Bengal’s Swasthya Sathi, these initiatives are transforming healthcare accessibility. Let’s dive into these schemes and how they benefit the common man. Ayushman Bharat PM-JAY: India’s Flagship Health Scheme Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY), launched in 2018, has become a major pillar of India’s healthcare…

The Modi government has recently introduced significant changes to the Sukanya Samriddhi Yojana (SSY). If you have an SSY account, especially one opened by grandparents, it’s crucial to address this by October 1, 2024. Failure to do so might result in the closure of your account, as the government has introduced new guidelines to regularize irregularly opened accounts. What’s New in Sukanya Samriddhi Yojana? The new rules for the Sukanya Samriddhi Yojana (SSY), effective from October 1, 2024, aim to correct the process of account creation and transfer. Many accounts were irregularly opened by individuals who did not meet the…

In a significant move for oilseed farmers across India, the central government has taken two major steps to support their interests. These decisions are expected to impact not only the agricultural sector but also the political landscape as elections in key agricultural states approach. Haryana and Maharashtra, two of India’s largest agricultural states, are preparing for assembly elections. While Haryana’s elections are set for October, Maharashtra could see elections in November. The government’s latest moves may influence the vote in these regions, though the long-term effects on farmers remain to be seen. Key Changes: Import Duty on Edible Oils The…

With the recent decision by the Federal Reserve to reduce interest rates by 50 basis points in the US, there is a growing expectation that interest rates in India may also see a decline soon. This change in market conditions is causing many financial experts to recommend good quality debt instruments for investment. If you’re an investor looking for alternatives to bank fixed deposits (FDs) or mutual fund debt schemes, you might want to consider non-convertible debentures (NCDs) as an option. Currently, NCDs from several reliable companies are available on both the BSE and NSE stock exchanges. But before you…

Systematic Investment Plan (SIP) is a simple way to invest in mutual funds. You can start a SIP with just Rs 100 a day. This option is popular because it doesn’t require a large sum of money upfront. Instead, small amounts are invested regularly, helping you build a good retirement fund over time. With proper planning and patience, SIP helps take advantage of compounding, making your money grow faster. How Does SIP Work? Learn the Basics of SIP Before You Start Investing SIP makes investing simple by allowing you to invest small amounts regularly instead of one large investment SIP…