The FinTech Hub
Source: Live Mint Financial constraints are a reality for many at some point in their lives. In challenging times, taking out a loan can provide temporary relief. However, this can sometimes lead to a more significant problem known as a debt trap. What is a debt trap? A debt trap occurs when you take on…
Source: Live Mint Soros explained these ideas succinctly: “I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the…
Source: Live Mint Life is unpredictable, and you never know when you or a loved one might face a medical emergency that requires hospitalisation. Such situations can be both stressful and financially burdensome. To help manage these unexpected expenses, banks offer medical loans, providing crucial financial assistance when you need it most. Key features of…
Source: Live Mint The Ministry of Finance has released new guidelines for regularising irregular accounts across various small savings schemes. These guidelines apply to multiple accounts, including NSS-87, PPF accounts for minors, and Sukanya Samriddhi schemes. All post offices and financial institutions must follow these procedures to ensure compliance and efficiency. This update was officially…
Source: Live Mint I am a non-resident Indian Citizen working abroad. I sold my agricultural land on 15 October 2022. As per Sec, I deposited the indexed capital gain in a capital gain account with a nationalised bank. 54B to purchase another agricultural land within two years from the date of sale. i.e. by 14th…
Source: Live Mint The income tax department’s online tax return filing and processing system has proved to be a vast improvement over the old manual system. However, more than a decade after the online system was launched, taxpayers continue to face difficulties, best exemplified by a recent Supreme Court order. In this case, the taxpayer…
Source: Live Mint I opened a savings bank account for my son when he was a minor. When he became an adult, the account was converted to a joint account with me as a second joint holder. This account is still in operation and has a balance of less than ten thousand rupees at any…
Source: Live Mint The desire for early retirement is gaining popularity as more individuals aim to escape the traditional work timeline and achieve financial independence before the usual retirement age of 60. The National Pension System (NPS) is an excellent option for those seeking early retirement, offering a balanced combination of wealth creation, tax benefits,…
Source: Live Mint HDFC Bank is set to revise its loyalty program for select credit cards, with changes taking effect on October 1, 2024. A key update involves limiting the redemption of reward points for Apple products to one item per calendar quarter through the Smartbuy platform. Specifically, HDFC Bank will allow customers to redeem…
Source: Live Mint Facing an immediate medical emergency or relocating for a new job can evoke a mix of emotions—worry, excitement, and the added concern of securing funds. In such situations, personal loans can offer a viable financial solution. A personal loan provides a lump sum amount that can be quickly transferred to your bank…
