The Union Ministry of New and Renewable Energy (MNRE) has announced the implementation guidelines for the ‘Payment Security Mechanism’ (PSM) and ‘Central Financial Assistance’ (CFA) components under the PM-Surya Ghar: Muft Bijli Yojana. The scheme aims to boost the adoption of rooftop solar plants across India by offering innovative models for residential consumers. Two Models …
With the government encouraging the new tax regime by offering lower tax rates but removing popular exemptions like Section 80C, many taxpayers are rethinking their investment plans. Interestingly, 72% of taxpayers have already shifted to the new system, signalling a move away from traditional tax-saving strategies. However, some investments previously tied to Section 80C still …
The Odisha government has unveiled a monthly pension scheme of ₹20,000 for individuals who were imprisoned during the Emergency period between 1975 and 1977. This financial assistance will also include coverage for medical expenses, providing comprehensive support for eligible beneficiaries. The announcement was formalised through a notification issued by the state’s Home Department on 13 …
When purchasing property, it’s easy to focus on the listed price and forget about the additional costs that quickly add up. From stamp duties to registration fees, not to mention legal and administrative expenses, these hidden costs can increase the total cost of your property by as much as 12%. Understanding and budgeting for these …
Unified Payments Interface (UPI) has emerged as the most popular mode of payment for a variety of transactions, from shopping and paying taxes to loan EMIs. Throughout 2024, UPI added several new features to further simplify payments, broaden its global reach, and enhance user experience. As we step into 2025, these new UPI updates are …
Goa Chief Minister Pramod Sawant introduced the ‘Bima Sakhi Yojana’ in the state on Tuesday, aiming to provide “insurance for all.” Goa becomes the second state, after Haryana, to implement this initiative envisioned by Prime Minister Narendra Modi. Eligibility and Training The Bima Sakhi Yojana, launched by Life Insurance Corporation of India (LIC), targets women …
The RBI (Reserve Bank of India) has updated the rules for fixed deposits (FDs) with NBFCs (Non-Banking Financial Companies) and HFCs (Housing Finance Companies), effective January 1. These changes simplify premature withdrawal options and enhance communication between financial institutions and depositors. Full Withdrawal for Small Deposits Deposits of up to ₹10,000 can now be fully …
As per the Deloitte India report, Home loan borrowers and industry experts have expectations from the Union Budget 2025-26, hoping that Finance Minister Nirmala Sitharaman will address their long-standing demands for increased tax benefits. Despite the government’s focus on promoting the new minimal exemption tax regime, stakeholders are advocating for reforms to make homeownership more …
Union Labour Minister Mansukh Mandaviya has announced that the Employees Provident Fund Organisation (EPFO) will launch an upgraded version of its software, named EPFO 3.0, by June 2025. The new system will offer enhanced efficiency, comparable to banking systems, and will feature a more user-friendly website interface. ATM Cards for EPFO Members Along with the …
The Odisha government has introduced significant reforms to improve social welfare, renewable energy adoption, and administrative efficiency. These initiatives, announced by Chief Secretary Manoj Ahuja and Chief Minister Mohan Charan Majhi, aim to uplift vulnerable populations and promote sustainable development. Enhanced Social Security and Women-Centric Schemes Chief Minister Mohan Charan Majhi approved the enhancement of …
