New vs Old Tax Regime The new tax regime under the Income Tax Act in India, introduced in the Union Budget 2020-21, offers taxpayers an alternative tax structure with lower tax rates but without various deductions and exemptions available under the old tax regime. New tax regime: 1. Lower Tax Rates: The new tax regime… Read More »
PIN Code In India, a PIN code (Postal Index Number) comprises six digits utilized by postal department to streamline the sorting and distribution of mail. Each area in India is assign a unique PIN code, helping in the efficient routing of mail to its intended destination. Here’s all you need to know about PIN codes… Read More »
Bank Overdraft & Cash Credit Bank overdraft and cash credit facilities are both forms of short-term borrowing provided by financial institutions to individuals and businesses. Here’s a detailed explanation of each: 1. Bank Overdraft: i. An overdraft is a financial arrangement where a bank allows an account holder to withdraw funds from their account even… Read More »
Loan Against Property In a loan against property (LAP), individuals offer their property as security to obtain funds from a lender, making it a secured borrowing option. This loan allows individuals to utilize the equity in their property to obtain a loan for various purposes, such as business expansion, education expenses, medical emergencies, debt consolidation,… Read More »
Gold Loan A gold loan is a type of secure loan where gold jewelry or ornaments are pledged as collateral to obtain funds from a lender. Brief overview of Gold Loans (GL): 1. Collateral: Gold jewelry or ornaments are use as collateral for obtaining a GL. The lender evaluates both the quality and quantity of… Read More »
Jan Aushadhi Kendra The Jan Aushadhi Kendra (JAK) program, spearheaded by the government of India, strives to ensure access to high-quality generic medications at economical rates for every individual, with a special focus on catering to the needs of the financially disadvantaged segments of society. Jan Aushadhi Kendra (JAK): Objective: The primary objective of… Read More »
Ayushman Bharat Yojana (ABY / PMJAY) Ayushman Bharat Yojana, also known as the Pradhan Mantri Jan Arogya Yojana (PMJAY), is a flagship healthcare scheme launched by the Government of India in September 2018. Here’s all you need to know about Ayushman Bharat Yojana: 1. Objective: The primary objective of ABY is to provide financial protection… Read More »
Kisan Vikas Patra (KVP) The Kisan Vikas Patra (KVP) serves as a modest savings program provided by the Government of India, with a core focus on encouraging long-term financial resilience among Indian populace, particularly in rural regions. Features of Kisan Vikas Patra (KVP): 1. Purpose: Kisan Vikas Patra was introduced with the aim of… Read More »
Digital Payments/ UPI Digital payments and Unified Payments Interface (UPI) have revolutionized the way transactions are conducted in India, bringing convenience, speed, and security to financial transactions. Overview of digital payments and UPI in India: 1. Digital Payments Landscape: India has witnessed a significant shift towards digital payments in recent years, driven by factors… Read More »
Senior Citizen Schemes In India, various schemes and benefits are available for senior citizens, aimed at providing financial security, healthcare support, and other assistance. Here’s an overview of some key senior citizen schemes in India: Pradhan Mantri Vaya Vandana Yojana (PMVVY): 1. PMVVY is a pension scheme for senior citizens (aged 60 years and above),… Read More »
