Banking

Highlights of Main Union Budget 2024

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Highlights of the Union Budget 2024 Announced on 23 July 2024- PDF Version of Union Budget 2024 – Download NPS-Vatsalya, a plan for contribution by parents and guardians for minors will be started. When the age of majority is reached, the plan can be converted seamlessly into a normal NPS account. On the other hand,Read More

NRI Investing Using Domestic Bank Accounts – Y/N?

by Madhupam Krishna

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Prabhat, who recently converted status from resident to NRI, asked me if it is ok to continue Mutual Funds investments & SIPs from domestic accounts. The NRI Investing Using Domestic Bank Accounts like savings or current is not allowed. So what to do if NRI invests using domestic bank accounts? Why this is so? ManyRead More

Should you Become a Loan Guarantor?

by Madhupam Krishna

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Sometimes your friend or family may approach you to become a guarantor of the loan. Should you go for it? Any problems being a credit guarantor? Mostly, a loan guarantor is required for unsecured loans. These loans are unsecured means apart from documents, no property or assets are kept as mortgages for the loan. ButRead More

Unclaimed Deposits – Claim Your Money

by Madhupam Krishna

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Unclaimed deposits are funds or the amount of money that individuals have forgotten to claim back. Unclaimed deposits run is crores in India. People or their heirs have forgotten or not in a position to claim these unclaimed deposits. Irony … right. How can someone forget money! Funds that is often left idle in variousRead More

How Balance Transfer of Loan Reduce Debt?

by Madhupam Krishna

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One does not want to keep debt for a long time, everyone wants to reduce their debt and get rid out of debt, however managing debt can be challenging. If we implement the right strategy, we can manage our debt or reduce debt. One such the strategy is Balance Transfer of Loan. This article exploresRead More

Welcome Central Bank Digital Currency – CBDC

by Madhupam Krishna

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On 1 st November, the Reserve Bank of India launched India’s first Central Bank Digital Currency pilot project for wholesale purposes. As of now 9 banks namely State Bank of India, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and the Indian unit of HSBC Holdings haveRead More