Do you have a grown-up daughter or a son who is studying in a different city and managing her own expenses? If she is not an earning member of your family, then the chances are that she is not eligible to apply for a credit card. And of course, you would not risk handing over…
When an NRI becomes a resident, can the foreign currency non-resident account FD be freely repatriated without coming under the ambit of the liberalised remittance scheme (LRS)? – Name withheld on request. When an NRI becomes a resident under FEMA, the FCNR (B) deposit held in India would be recharacterized as a resident account, and…
Have you just stopped using a credit card? If yes, should you close the card altogether? Well, this is not as simple as it sounds. Closing a credit card that you are not currently using is a decision that calls for consideration of several benefits and drawbacks. But before you take a decision, be mindful…
The techie, whose third visit to his favourite destination was for his honeymoon in November last year, sayshe prefers Vietnam over Goa for two reasons: it is more tourist-friendly and costs nearly the same. “You basically get to experience a new country at the cost of domestic holidays, which feels amazing,” Harsh told Mint. As…
Prior to investing in a mutual fund scheme, it is worthwhile to examine the paste returns of that scheme in relation to other schemes in the same category. Although past returns do not a scheme’s future returns, these are still important for understanding the future investment potential of a scheme. Other factors which investors are…
A number of key decisions were taken in the 236th meeting of Central Board of Trustees (CBT), EPFO on Saturday. These changes relate to paying a higher interest to subscribers, Investment in InvITs and REIT, and redemption Policy for ETF investments. The meeting was headed by Mansukh Mandaviya, Union Minister for Labour & Employment and…
A new month has begun and the year 2024 is about to culminate in a span of 31 days. With this, some changes have come into effect, or set to be effective, which will directly impact your pocket in terms of the money you can save or invest for your future. Starting today (or may…
Markets regulator Securities and Exchange Board of India (Sebi) has recently identified several concerns plaguing the SME space such as misuse of IPO proceeds, fund diversion, promoter exits and market misconduct. These issues pose threats to investor protection and market integrity. A Sebi analysis reveals that many SMEs have engaged in substantial related party transactions…
Are you short of funds and exploring different ways of raising money? There are multiple ways to do so such as personal loan, instant loan, credit card loan and loan against an asset such as gold or securities. Each of these sources have their own set of advantages and disadvantages. For instance, when you withdraw…
If you use a credit card, you should remember that spending more than the ideal credit limit is not recommended. It not only throws your financial plan into disarray but can also adversely impact your credit score. The ideal credit utilisation ratio is 30 percent. If your credit limit is ₹7 lakh, then as per…
