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<p>New Delhi: A viral message is doing the rounds on social media that claims that new banknotes of Rs 1,000 denomination is being released soon. The currency notes circulated in the viral messages shows a yellow colour Rs 1,000 Indian currency notes.</p><p>The Rs 1,000 note shown in the viral message bears a temple motif. The notes in the viral message replicates Reserve Bank of India print that the official currency notes bear.</p><p>"FAKE 1,000 NOTE ALERT! Several social media posts claim that a new Rs 1,000 note has been issued. This claim is fake. The RBI has made no announcement regarding the issuance of a new Rs 1,000 note. Verify information through official sources and do not share unverified claims," PIBFactCheck has tweeted.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr">_ FAKE _1,000 NOTE ALERT! Several social media posts claim that a new _1,000 note has been issued. #PIBFactCheck _ This claim is fake. _ The @RBI has made no announcement regarding the issuance of a new _1,000 note. _ Verify information through official sources and do not share unverified claims. _ Come across suspicious content related to the Central Government? Report it to @PIBFactCheck. _ +91 8799711259 _ factcheck@pib.gov.in</p><p>— PIB Fact Check (@PIBFactCheck) <a href="https://x.com/PIBFactCheck/status/2114965352513933789?ref_src=twsrc%5Etfw">October 27, 2026</a></p></blockquote><script async="" src="https://platform.x.com/widgets.js" charset="utf-8"></script><h2>How to get messages fact-checked by PIB</h2><p>If you get any such suspicious message, you can always know its authenticity and check if the news is for real or it is a fake news. For that, you need to send the message to https://factcheck.pib.gov.in. Alternatively you can send a WhatsApp message to +918799711259 for fact check. You can also send your message to pibfactcheck@gmail.com. The fact check information is also available on https://pib.gov.in.</p><h2>Polymer banknotes in India</h2><p>Meanwhile, the Indian government approved a proposal to introduce one billion polymer banknotes each in Rs 10 and Rs 20 denominations for field trials.</p><p>In a written reply to the Rajya Sabha in August, Finance Minister Nirmala Sitharaman said the Reserve Bank of India (RBI) -- based on the recommendation of its central board -- had submitted the proposal to the government under Section 25 of the RBI Act, 1934.</p><p>The proposal also envisages regular issuance of polymer banknotes in the two denominations if the field trials are successful.</p><p>"The proposal has been approved by the government. As per the RBI, these polymer banknotes are proposed to be issued along with paper substrate-based banknotes," the minister said.</p><p>She added that the RBI has informed the government that the procurement process is currently at an initial stage.</p><p>Consequently, the timeline for introduction of the polymer notes and the expenditure involved cannot yet be determined.</p><p>RBI Governor Sanjay Malhotra had also previously confirmed that the central bank was targeting the launch of polymer currency notes at the beginning of the next financial year.</p><p>With IANS Inputs</p>

The Rs 1,000 note shown in the viral message bears a temple motif.

Is Govt bringing back Rs 1,000 currency notes? Here's the truth behind temple-motif viral currency note

Is Govt bringing back Rs 1,000 currency notes? Here's the truth

<p>New Delhi: The central government employees were eagerly anticipating that the government might take a call on hiking the July 2026 DA hike before Dussehra. However, no such announcement was made. Speculations are rife that the government might make the announcement before Diwali.</p><p>Central government employees will increased DA hike in their salary along with six months of arrears from January 2026. Based on the All India Consumer Price Index for Industrial Workers (AICPI-IW) for August 2026, the next DA or DR increase is expected to be 3-4 percent. This could take the current DA from 60 percent to 64 percent.</p><h2>AICPI-IW August 2026</h2><p>As per the Ministry of Labour and Employment's data, the All India Consumer Price Index for Industrial Workers (AICPI-IW) for August 2026 at 154.4, up 1.2 points from 153.2 in July.</p><h2>Bonus worth Rs 2,010 crore for over 11.40 lakh railway employees</h2><p>The Union Cabinet on October 14 approved a productivity-linked bonus (PLB) for 78 days, amounting to Rs 2,009.61 crore, to 11,40,770 railway employees. The maximum amount payable per eligible railway employee is Rs 17,951 for 78 days, in recognition of the excellent performance by the Railway staff.</p><p>The amount will be paid to various staff categories, like track maintainers, loco pilots, train managers (guards), station masters, supervisors, technicians, technician helpers, points men, ministerial staff, and other Group 'C staff.</p><p>According to the Cabinet, the PLB payment to eligible railway employees is made each year before the Durga Puja/Dusshera holidays.</p><h2><br>When will DA rise?</h2><p>While the Cabinet had made announcement regarding railway bonus, and also announced non-performance-linked bonus for central government employees, there still hasn't been any decision on DA hike.</p><h2>Govt unions press demands for DA hike</h2><p>The Confederation of Central Government Employees and Workers had previously requested the Department of Expenditure under the Ministry of Finance to speed up the process and announce the next installment of DA and DR, due with effect from July 1, 2026. The organisation has also said that once the relevant Consumer Price Index (CPI) data is available and new rate is calculated, the proposal should be placed before the competent authority for approval.</p><p>The Confederation has requested the government to speed up the process for the DA installment due from July 1, 2026, citing rising household expenses and other financial needs. The organisation said that the pending process should be completed soon so that the arrears and revised salary payments can be settled through the normal process.</p><h2>How much DA can rise?</h2><p>The AICPI-IW index is used to calculate DA calculations. Based on the latest data, DA for employees and pensioners is expected to increase by 3-4 percentage points to 63 or 64 percent for the July cycle.</p><p>The 12 months of AICPI-IW figures needed to calculate the July 2026 DA revision are now complete. Based on the index, the DA or DR is expected to be 3-4 percent which would raise the current DA from 60 percent to 64 percent.</p><p>The final DA rate will depend on the government’s calculation and rounding. However, central government employees expect it to be around 63–64 percent.</p>

Once the Cabinet makes an announcement, central government employees will increased DA hike in their salary along with six months of arrears from January 2026.

Will govt announce DA hike for central govt employees before Diwali? All eyes glued to Cabinet decision

Will govt announce DA hike for central govt employees before Diwali?

<p>New Delhi: The Employees' Provident Fund Organisation (EPFO) has asked employers to enroll all eligible employees earning up to Rs 25,000 in the Employee Provident Fund (EPF). It also instructed employers to calculate contributions according to the salary limit of Rs 15,000 from September 1 to 16 and Rs 25,000 from September 17 to 30.</p><p>The government recently increased the EPF wage ceiling from Rs 15,000 to Rs 25,000. The new wage ceiling is effective from 17 September, 2026. Employees earning up to Rs 25,000 plus dearness allowance can now enroll for the EPF, Employees’ Pension Scheme (EPS) and the Employees’ Deposit-Linked Insurance (EDLI) Scheme.</p><h2>What should employers do for employees earning up to Rs 25,000?</h2><p>In an X post the EPFO urged employers to enroll all eligible employees earning up to Rs 25,000 per month in the EPF.</p><p>"September 2026 ECR: Enroll all eligible employees earning up to Rs 25,000. Calculate contributions according to the salary limit of Rs 15,000 for September 1–16 and Rs 25,000 for September 17–30," the EPFO said in the X post.</p><p> </p><blockquote class="twitter-tweet"><p lang="hi" dir="ltr">क्या आपका मासिक वेतन ₹25,000 तक है? आज ही अपनी सामाजिक सुरक्षा सुनिश्चित करें! अपने नियोक्ता के माध्यम से कर्मचारी भविष्य निधि में नामांकन कराएँ। #ExpandingSocialSecurity #EPFO #EPFOWithYou #HumHainNa https://t.co/LRg2StUa6r</p><p>— EPFO (@officialepfo) <a href="https://x.com/officialepfo/status/2112039287478968740?ref_src=twsrc%5Etfw">October 19, 2026</a></p></blockquote><script async="" src="https://platform.x.com/widgets.js" charset="utf-8"></script><p> </p><h2>What employers need to do in view of raised wage ceiling?</h2><p>The EPFO has asked employers to enroll all eligible employees earning up to Rs 25,000 per month in the EPF. Employers should calculate the contributions in two parts. For 1 to 16 September 2026, the salary should be calculated as per the old wage ceiling of Rs 15,000. For 17 to 30 September 2026, the salary should be calculated as per the new wage ceiling of Rs 25,000.</p><h2>How will employees benefit from enrolling in EPF?</h2><p>Enrolling in the EPF will ensure employees' mandatory retirement savings with high interest, an employer-matched 12 percent financial bonus and increased pension and free life insurance benefits up to Rs 7 lakh. This will ensure financial security for employees and their families.</p><p>EPFO asks employers to pay ECR by 31st October</p><p>The EPFO has also asked the employers to pay a single Electronic Challan cum Return (ECR) by 31st October 2026. The ECR contains member-wise wage and contribution details under EPF, EPS and EDLI. Employers submit ECR every month through the EPFO portal.<br> </p>

The government recently increased the EPF wage ceiling from Rs 15,000 to Rs 25,000.

EPFO wage ceiling hiked to Rs 25,000: Check why 31 October is a crucial deadline

<p>New Delhi: The Employees' Provident Fund Organisation (EPFO) has urged employees earning up to Rs 25,000 per month in basic pay to enroll in the Employee Provident Fund (EPF) through their employer to secure their social security benefits.</p><p>In an X post, the EPFO said that employees earning up to Rs 25,000 should get enrolled in the EPF to get social security, pension benefits, life insurance up to Rs 7 lakh and the provident fund.</p><blockquote class="twitter-tweet"><p lang="hi" dir="ltr">क्या आपका मासिक वेतन ₹25,000 तक है? आज ही अपनी सामाजिक सुरक्षा सुनिश्चित करें! अपने नियोक्ता के माध्यम से कर्मचारी भविष्य निधि में नामांकन कराएँ। #ExpandingSocialSecurity #EPFO #EPFOWithYou #HumHainNa https://t.co/LRg2StUa6r</p><p>— EPFO (@officialepfo) <a href="https://x.com/officialepfo/status/2112039287478968740?ref_src=twsrc%5Etfw">October 19, 2026</a></p></blockquote><script async="" src="https://platform.x.com/widgets.js" charset="utf-8"></script><p>The government recently increased the EPF wage ceiling from Rs 15,000 to Rs 25,000. The new wage ceiling is effective from 17th September 2026. Employees earning up to Rs 25,000 plus dearness allowance can now enroll for the EPF, Employees’ Pension Scheme (EPS) and the Employees’ Deposit-Linked Insurance (EDLI) Scheme.</p><h2>How to get enrolled in EPF if you are earning up to Rs 25,000?</h2><p>In the X post the EPFO said that employees earning up to Rs 25,000 per month should get enrolled under the EPF through their employer.</p><p>"Is your monthly salary up to Rs 25,000? Ensure your social security today! Enroll in the Employee Provident Fund through your employer," the EPFO said in the X post.</p><p>The EPFO said that employees earning up to Rs 25,000 should get enrolled in the EPF to get social security, pension benefits, life insurance up to Rs 7 lakh and the provident fund.</p><h2>What to do if employer’s EPS contribution is missing?</h2><p>In another post, the EPFO said that eligible members of the EPS who find that their employer’s EPS contribution is missing should first contact the employer. If the issue is not resolved, they can raise a grievance through the EPFiGMS portal.</p><h2>Who must join EPS under new Rs 25,000 ceiling?</h2><p>The new wage limit applies to employees earning Rs 25,000 or less per month for EPFO coverage. Employees earning between Rs 15,000 and Rs 25,000 now come under mandatory EPFO coverage.</p><h2>EPFO asks establishments to enroll employees</h2><p>Earlier in an X post the EPFO announced that the monthly wage limit for provident fund, pension and insurance benefits has been increased to Rs 25,000 per month. It asked the EPFO-registered establishments to enroll eligible employees and ensure they receive social security benefits.</p><p>The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the proposal of the Ministry of Labour and Employment to enhance the wage ceiling for mandatory coverage under the EPFO from Rs 15,000 to Rs 25,000 per month from September 17, 2026.</p>

In an X post, the EPFO said that employees earning up to Rs 25,000 should get enrolled in the EPF to get social security, pension benefits, life insurance up to Rs 7 lakh and the provident fund.

EPFO urges employees earning up to Rs 25,000 to get enrolled in THIS

<p>New Delhi: The Non-Resident Indians and the Overseas Citizens of India (OCIs) who want to park their foreign currency savings in India have the provision of Foreign Currency Non-Resident Bank or FCNR(B). Moreover, they may choose to add a family member who is an Indian resident as a joint account holder.</p><p>Adding a family member who is an Indian would help in managing the account more efficiently.</p><p>A person is allowed to open a joint FCNR(B) account with an Indian relative, however conditions may apply. Therefore, before opening such an account one should go through the details regarding with whom it can be operated and which mode of operation is applicable.</p><p>Non-Resident Indians (NRIs) and People of Indian Origin (PIOs) can open a joint FCNR(B) account with a resident relative on a 'Former or Survivor' basis only, which means the secondary account holder is allowed to use and manage the account only after the death of the former member.</p><p>It is important to note that the NRI/PIO/OCI must be the primary holder of the joint account.</p><p>Only one resident Indian can be the joint account holder. If the account is operated with NRIs, a maximum of four members are allowed to be joint holders. In that case, the mode of operation would be 'either or survivor'. This mode allows all the parties to manage the account independently.</p><p>The State Bank of India (SBI) website states, "Funds deposited in the account can be by way of fresh remittance from overseas or transfer from other NRE / FCNR (B) account or NRO account (subject to limit)."</p><p>The following individuals are eligible as relatives to hold the FCNR(B) account jointly:</p><p>-- Members of a Hindu Undivided Family<br>-- Husband and wife<br>-- The relation between the two should be either as follows:</p><p>a) Father (including step-father)<br>b) Mother (including step-mother)<br>c) Son (including step-son)<br>d) Son's wife<br>e) Daughter<br>f) Daughter's husband<br>g) Brother (including step-brother)<br>h) Sister (including step-sister)</p><p>The account holders are allowed to fund the deposits in two ways: through foreign currency remittance from overseas and through another FCNR(B) or Non-Resident (External) account.</p><p>A Non-Resident (External) account converts the foreign currency into Indian currency based on the existing exchange rates to park the savings in India, whereas an FCNR(B) maintains the deposit in the foreign currency.</p><p>An FCNR(B) deposit comes with certain benefits, including tax exemption and repatriation. The total amount deposited in the FCNR(B) account, including the principal and the interest, is exempt from Income Tax in India. Moreover, the total amount in the fund can be transferred outside India fully and freely.</p>

A person is allowed to open a joint FCNR(B) account with an Indian relative, however conditions may apply. Therefore, before opening such an account one should go through the details regarding with whom it can be operated and which mode of operation is applicable.

FCNR(B) account: Who can NRIs add as joint account holders?

FCNR(B) account: Which Indian relatives can jointly hold an account with NRIs?

<p>New Delhi: Money transfer has come a long way from cash to internet-based transactions as a result of the increasingly digital economy. People now have multiple channels to make payments and receive money, ranging from single-digit payments to large transactions.</p><p>People may choose Unified Payments Interface (UPI), National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), Immediate Payment Service (IMPS), and other channels to make routine or business transactions.</p><p>With new modes being introduced, new confusion may arise regarding the nature of these transactions and their tax implications.</p><p>Though such transactions may not necessarily be taxable, complications may, however, arise if the receiver is unable to explain the source of the money. This may happen when the transfers into a person's account in a year exceed the person's declared total income.</p><p>Therefore, even if the transactions are legitimate, the Income Tax Department may scrutinise them, even if the money is received as gifts from relatives, business receipts, or transactions made on others' behalf. The person has to be prepared to explain the source and reason for the money transferred into the account.</p><p>UPI is these days the most opted-for mode of digital transaction, and it does not have any transaction limit as per the Income Tax Act, which makes the nature and source of the transfer the reason for scrutiny.</p><p>The Statement of Financial Transactions (SFT) framework makes cash deposits of Rs 50 lakh and more in current accounts and Rs 10 lakh and more in savings accounts reportable. These thresholds do not apply to UPI, NEFT, RTGS, or IMPS transactions.</p><p>However, the frequency or amount transferred during digital transactions may come under the radar if the Income Tax Department detects unusual activity, even if no threshold exists.</p><p>It implies that even a small transaction can attract questions if the Income Tax Department suspects an illegitimate transaction. Thus, a small but suspicious deposit might have tax consequences just as a large-value transaction might.</p><p>Sometimes, confusion arises when a person uses the same account for personal and business purposes. It may happen that, despite a person's earnings being within the tax-exemption limit, they may receive a tax notice because the total amount of annual deposits made in the account crosses the threshold.</p><p>Similarly, a person who receives money on behalf of a family member or a friend may face scrutiny, even if the beneficiary is someone else. Transferring the received amount to someone else does not establish that the credit is legitimate or exempt from tax.</p><p>This happens because repeated deposits and transfers may resemble the activities of a money mule account. Therefore, it becomes necessary to keep records of these transactions ready to provide an adequate explanation regarding the nature of the transfer.</p>

People may choose Unified Payments Interface (UPI), National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), Immediate Payment Service (IMPS), and other channels to make routine or business transactions.

When can digital money transfers trigger an income tax notice?

Digital transactions: When can money transfers attract an income tax notice?

<p>New Delhi: The Indian Railways has decided to extend the optional travel insurance facility to passengers who book their tickets at railway counters through offline mode. The decision came after the Supreme Court's order, dated October 6, directing the Railway Board to cover offline or counter tickets under the Optional Travel Insurance Scheme (OTIS).</p><p>The facility was, until now, available to passengers who made ticket reservations online. The terms and conditions for OTIS issued by the IRCTC, which have so far governed passengers with e-tickets, would now also be applicable to passengers buying tickets from the counters.</p><p>As per the order issued by the Railway Board, all zonal railways have been instructed to make the necessary arrangements to ensure the implementation of the facility by October 27. The railway zones have to further inform the staff about the implementation of the insurance scheme.</p><p>The insurance coverage includes only Indian nationals, as per the IRCTC guidelines, and is applicable to confirmed, partly confirmed, and Reservation against Cancellation (RAC) tickets at the time of booking.</p><p>The premium of 45 paise, which is applicable to e-tickets, is also applicable to offline tickets for those opting for the insurance scheme, with payment mandatorily made digitally. When the passenger makes the ticket payment, the premium would be added to the fare, and the railway staff has to ensure that the passenger's accurate mobile number is recorded along with other details in accordance with the reservation procedure. This would ensure that all the required information is transmitted to the insurance company for the issuance of the scheme.</p><p>The insurance coverage would range from Rs 2 lakh to Rs 10 lakh. The highest coverage would be provided in cases of death or permanent total disability due to a railway accident or any tragedy. Coverage of Rs 7.5 lakh would be given to those suffering permanent partial disability, while up to Rs 2 lakh would go towards hospitalisation expenses. Moreover, Rs 10,000 would be provided for the transportation of mortal remains following a railway accident or tragic incident.</p><p>People opting for insurance coverage would be informed of the relevant policy details through their registered mobile numbers. The Railway Board is yet to issue further instructions regarding OTIS to reservation supervisors and counter staff.</p><p>The Supreme Court took note of people from the lowest strata of society who are still not equipped with the resources to make online reservations and are thus dependent on Passenger Reservation System (PRS) counters for tickets. Therefore, despite most ticket reservations being made online, the top court has ordered the extension of the scheme to cover passengers who still rely on offline methods.</p>

The facility was, until now, available to passengers who made ticket reservations online. The terms and conditions for OTIS issued by the IRCTC, which have so far governed passengers with e-tickets, would now also be applicable to passengers buying tickets from the counters.

Railways extends travel insurance to counter tickets; check premium, coverage

Optional Travel Insurance Scheme: Railways extends facility to counter tickets; check premium, coverage and more

<p>New Delhi: The retirees can submit the Digital Life Certificate (DLC) without needing to visit the bank or pension office to avail the pension under the Employees’ Pension Scheme. The Employees’ Provident Fund Organisation (EPFO) through an X post informed the concerned members regarding the service facilitated by India Post Payments Bank (IPPB).</p><p>As per the post, the pensioners can now submit their Digital Life Certificate by calling the IPPB.</p><p>What Is a Digital Life Certificate?</p><p>Jeevan Pramaan Patra or Digital Life Certificate is a facility by the government for the pensioners to submit their annual life certificates digitally. This certificate serves as the proof of the pensioner being alive so that the pension can be disbursed to the eligible accounts.</p><p>Submission Deadline</p><p>It is necessary to complete the submission of Jeevan Pramaan Patra (digital life certificate) on time to ensure uninterrupted pension services. The submission window opened on October 1 for retirees aged 80 or older wherein they can submit their digital certificates through branch visit or doorstep service until November 30. Other pensioners can submit from November 1 until November 30.</p><p>Consequences of Missing the Deadline</p><p>Failure to submit a valid life certificate within the prescribed period may lead to an interruption in pension payments until the certificate is submitted and processed.</p><p>To avoid such a situation, pensioners can seek assistance from Postal Department for doorstep DLC service.</p><p>Option 1: Doorstep Service</p><p>IPPB as well as non-IPPB members can use this service.</p><p>-- The pensioner has to place a call on 033-22029000 and request for a doorstep service by postman / Grameen Dak Sevak.<br>-- Once the biometric authentication or face authentication is completed, a Pramaan ID is generated.<br>-- The certificate is then forwarded to the pension disbursing agency automatically. Pensioners may also download a copy of the DLC through the Jeevan Pramaan website.</p><p>IPPB charges Rs 70 (inclusive of GST/cess) for each successful DLC generation</p><p>Documents and Details Required</p><p>For the doorstep service, the person must have the necessary information to successfully complete the submission procedure.</p><p>-- Aadhaar number<br>-- Aadhaar-linked Mobile number<br>-- Pension Payment Order (PPO) number<br>-- Pension Account number</p><p>Option 2: Self-Service Through the App</p><p>Pensioners can also submit the DLC themselves. EPFO’s Aadhaar-based Face ID authentication provides an easy alternative to visiting the branch in person.</p><p>1. Your Aadhaar number must be registered with the pension disbursing authority (bank, post office, or others).<br>2. Install the Jeevan Pramaan app and AadhaarFaceRD on the smartphone equipped with a front camera of at least 5 MP.<br>3. Enter your Aadhaar number, Aadhaar-linked mobile number, and e-mail address on the Jeevan Pramaan App.<br>4. Following the OTP validation, enter your name and authorise the authentication.<br>5. Take a picture of your face with the front camera and choose the Pension Payment Order (PPO) number from the dropdown menu or “Add new pension PPO not in List for yourself”.<br>6. After clicking submit, a pop-up window opens to download the DLC. You will also receive an SMS containing the Pramaan ID along with a link to download the Digital Life Certificate.<br>7. The certificate is automatically forwarded to the Pension Disbursing Agency.</p>

Jeevan Pramaan Patra or Digital Life Certificate is a facility by the government for the pensioners to submit their annual life certificates digitally. This certificate serves as the proof of the pensioner being alive so that the pension can be disbursed to the eligible accounts.

EPFO pensioners can submit life certificate from home: Check how

EPFO Digital Life Certificate: How pensioners can submit Jeevan Pramaan Patra from home

<p>New Delhi: The National Pension System (NPS) allows a person to accumulate a corpus for retirement throughout their earning life. For salaried employees, NPS has a provision for a corporate model, which includes contributions from both employers and employees. Thus, the funds of employees covered under the corporate model of NPS are linked to their employers as well.</p><p>Confusion may arise in the case of a job change. One may wonder about the future course of their NPS journey and what would happen if the new employer does not offer the option of corporate NPS.</p><p>It is thus important to know the sequence of events once a person resigns from an establishment. The Central Recordkeeping Agency (CRA) allots a Permanent Retirement Account Number (PRAN) to every NPS subscriber, which is linked to their account. PRAN helps facilitate the seamless transfer of retirement funds throughout one's employment journey without the need to switch accounts or withdraw money in the case of a job switch or a change in job sector, such as from the private sector to the government sector.</p><p>It is a unique 12-digit number provided to an NPS subscriber that ensures the smooth transfer of the retirement corpus across different establishments and sectors. Even if the subscriber changes jobs, cities, or Pension Fund Managers, the PRAN remains the same throughout their life.</p><p>Therefore, when an employee changes jobs, the accumulated funds remain invested in the same NPS account, and a new account is generally not required.</p><p>When an employee resigns, the CRA records the shift or exit, which helps detach the PRAN from the corporate registration of the previous employer. This, however, does not affect the corpus in the account.</p><p>The new organisation that the employee joins may or may not offer corporate NPS. If it does, the PRAN can be registered with the new employer, and contributions can continue from there.</p><p>However, confusion arises if the employer does not offer corporate NPS. Subscribers must not withdraw the sum in haste, since the NPS account is linked to a PRAN that belongs solely to them. Therefore, the money in the NPS account will neither disappear nor reset.</p><p>The subscriber also does not need to create a new NPS account under the All Citizens Model, as a person can have only one PRAN.</p><p>Instead, the subscriber can shift the existing NPS account from the corporate sector to the All Citizens Model, under which they may continue making independent contributions to the account. This is known as Inter-Sector Shifting (ISS), which allows an individual to shift NPS accounts from one sector to another, including the Corporate, Central Government, State Government, and All Citizens models. The PRAN remains linked to the NPS account, and the existing corpus is not affected.</p><p>Since NPS is a market-linked product and returns are generated on the available balance in the account, a change in sector or a gap in employment does not, in itself, result in the loss of the NPS amount.</p>

Confusion may arise in the case of a job change. One may wonder about the future course of their NPS journey and what would happen if the new employer does not offer the option of corporate NPS.

Corporate NPS: Will your corpus change with your job?

Corporate NPS: What happens to the NPS corpus when an employee switches jobs?

<p>New Delhi: The Sukanya Samriddhi scheme is a government-backed savings scheme for girl children. Parents can open an account in the name of their girl child at any post office or designated commercial bank branch. The account can be opened with a minimum deposit of Rs 250. Further deposits must be made in multiples of Rs 50 with at least Rs 250 deposited every financial year.<br><br>You can deposit a maximum of Rs 1.5 lakh in the SSY account in a financial year. Any amount deposited above this limit will not earn interest and will be refunded. Deposits can be made for up to 15 years from the date the account is opened.<br><br>If you opened an SSY account when your daughter was young but have saved only a small amount, you can increase your savings by making additional deposits. You can grow your savings by changing how much you deposit, how often you deposit and when you make the deposits. The SSY interest rate is set by the government every quarter and is currently 8.2 percent per year.<br><br>Suppose you have deposited Rs 60,000 every year into your SSY account for four years and now want to increase your annual investment to Rs 1 lakh. You can do this by depositing more money into your existing account. The scheme allows you to invest up to rs 1.5 lakh in a financial year.</p><h2>How to achieve Rs 1 lakh target: SSY Top-Up</h2><p>If you already deposit Rs 60,000 every year, you only need to add another Rs 40,000 to your existing SSY account to reach your annual investment target of Rs 1 lakh. You can deposit the money through cash, cheque or online transfer using your bank or post office.</p><h2>Sukanya Samriddhi A/c: No lock-in</h2><p>There is no fixed lock-in period for increasing your contribution. The increased amount will follow the standard SSY rules and continue to earn interest at the current rate of 8.2 percent per year.</p><h2>Sukanya Samriddhi A/c: Modify NACH limit</h2><p>If you use NACH for automatic payment, you can increase your monthly payment limit. This will allow your investments to continue automatically without the need to make deposits manually every month.</p><h2>Sukanya Samriddhi A/c: Calculate new amount</h2><p>To reach Rs 1 lakh in a year, you need to deposit about Rs 8,333 per month (Rs 1,00,000 ÷ 12 months = Rs 8,333.33). If you use NACH, you can submit a mandate modification request to increase your monthly auto-debit amount to Rs 8,333.</p><h2>Sukanya Samriddhi Top up: Calculation before and after top-up</h2><p>Phase    Years    Annual Deposit    Total Added    Balance Status<br>Past Contributions    Years 1–4    Rs 60,000    Rs 2,40,000    Current balance is Rs 2.93 Lakh<br>New Contributions    Years 5–15    Rs 1,00,000    Rs 11,00,000    Balance grows to Rs 25.18 Lakh<br>Lock-in Period    Years 16–21    Rs 0 (No deposits)    Rs 0    Interest compounds to Rs 40.41 Lakh<br><br>Your Total Principal Investment: Rs 13.40 Lakh (Past Rs 2.4 Lakh + Future Rs 11 Lakh)<br><br>Estimated Interest Earned: Rs 27.01 Lakh<br><br>Total Tax-Free Maturity Value: Rs 40.41 Lakh<br><br>A guardian can open the SSY account for a girl child from birth until she turns 10 years old. The girl must be an Indian resident when the account is opened and remain a resident until the account matures or is closed. Only one SSY account can be opened for each girl child. Parents can open accounts for up to two girl children with exceptions for twins or triplets. The account can be transferred anywhere within India.</p>

A guardian can open the SSY account for a girl child from birth until she turns 10 years old.

How to transition your initial Sukanya Samriddhi Account investment contribution to Rs 1 lakh?

How to transition your initial Sukanya Samriddhi A/c contribution to Rs 1 Lakh?

How to transition your initial Sukanya Samriddhi Account investment contribution to Rs 1 lakh? Options explained

<p>New Delhi: India’s largest lender State Bank of India (SBI) on Friday said that account balances and funds of customers remain safe with the bank in the aftermath of a cyber attack incident, exposing 3,897 customer records on the dark web.</p><p>SBI has issued statement on social media platform X. In an official statement titled, "Customer Safety &amp; Awareness – Important Update" SBI has informed its customers that the account balances are safe.</p><p>"Further to our earlier post regarding the recent cyber incident, the Bank has individually informed all customers, whose data was identified as being involved, through email and/or WhatsApp. We reiterate that your account balances and funds are safe with us," said SBI.</p><p>"Customers are advised to follow safe digital banking practices, never share their OTP, PIN or password with anyone, and remain vigilant against suspicious calls, messages and emails," State Bank of India further said.</p><p> </p><blockquote class="twitter-tweet"><p lang="zxx" dir="ltr">https://t.co/lrIZtM5nnQ</p><p>— State Bank of India (@TheOfficialSBI) <a href="https://x.com/TheOfficialSBI/status/2113516056203698242?ref_src=twsrc%5Etfw">October 23, 2026</a></p></blockquote><script async="" src="https://platform.x.com/widgets.js" charset="utf-8"></script><p> Earlier this week SBI experienced a data breach, with 3,897 customer records found exposed on the dark web. The bank said it had received communications from its Threat Intelligence Service Provider, the Defence Cyber Agency and CERT-In regarding an alert concerning suspected exposure of customer data.</p><p> </p><p>During preliminary analysis of approximately 375,000 records available on the dark web, 3,897 customer records containing Personally Identifiable Information (PII) were identified, the bank had said in an exchange filing.</p><p>The exposed information reportedly included customers’ registered mobile numbers, dates of birth, names, gender, email addresses, residential addresses, branch and CIF identifiers, lead IDs and metadata associated with loan or lead records and other related files, it added.</p><p>The state-owned lender said it promptly activated its cyber incident response and containment protocols and engaged an independent CERT-In-empanelled cybersecurity agency to conduct a comprehensive assessment and investigate the nature and extent of the alleged compromise.</p><p>A detailed investigation is underway to establish authenticity and completeness of the exposed data, determine potential source and extent of exposure and assess associated risks, it said.</p><p>With IANS Inputs</p>

SBI has informed its customers that their account balances are safe with the bank.

State Bank of India data breach case: SBI says customer funds unaffected

<p>New Delhi: Many parents who open a Sukanya Samriddhi Yojana (SSY) account for their daughter are unsure when it will mature. Those who open the account when their daughter is five years old or older often wonder whether they will receive the maturity amount when she turns 21 or whether they will have to wait until she turns 26. Here is what you need to know about the maturity date of an SSY account.</p><h2>Who can open Sukanya Samriddhi Yojna account?</h2><p>A Sukanya Samriddhi Account can be opened by a parent or legal guardian in the name of a girl child who is under 10 years old. The account can be opened at a post office or an authorised bank. It can also be transferred from one post office or bank to another anywhere in India. Investment in the Sukanya Samriddhi Yojana scheme is exempted under Section 80C of the Income Tax Act, 1961.</p><h2>What is minimum and maximum deposit limit in Sukanya Samriddhi Yojna?</h2><p>The SSY account can be opened with a minimum deposit of Rs 250 and a maximum deposit of Rs 1.5 lakh in a financial year. Deposits must be made for 15 years from the date the account is opened.</p><h2>How much interest is provided on Sukanya Samriddhi Yojna deposit?</h2><p>Under the SSY, your deposits earn a highly competitive, government-backed interest rate of 8.2 percent per annum. The interest is compounded anually which means you earn interest not only on your original deposit but also on all the interest you accumulated in previous years.</p><h2>When does Sukanya Samriddhi Yojna mature?</h2><p>The SSY account matures 21 years after the date it is opened. The account can be closed before the completion of 21 years for the marriage of the account holder after her attaining the age of 18 years. Withdrawal of up to a maximum of 50 percent of the amount is allowed for the purpose of education of the account holder.</p><h2>When will Sukanya Samriddhi Yojna mature if account opened when child is 5 years old?</h2><p>The maturity of SSY depends on the date it was opened and not the age of the girl child. The account matures 21 years after opening. For example, if you open the account when your daughter is 5 years old, it will mature when she turns 26. Deposits need to be made only for the first 15 years. After that the corpus continues to earn compound interest for the remaining six years without any additional deposits.</p><h2>How much will you get after 21 years of opening Sukanya Samriddhi Yojna?</h2><p>If you deposit Rs 60,000 every year for 15 years in the SSY, your total investment will be Rs 9 lakh. If the interest rate remains 8.2 percent per year then you could receive approximately Rs 28.75 lakh when the account matures after 21 years.</p><h2>Here how your money grows over time</h2><p>Total investment: Rs 9,00,000 (over 15 years)<br>Estimated interest earned: Rs 19,75,417<br>Total maturity value after 21 years: Rs 28,75,417</p><p>You only need to deposit money into the account for the first 15 years. The account matures 21 years after it is opened. Even after you stop making deposits, your savings will continue to earn interest for the remaining six years until maturity.<br> </p>

The SSY account can be opened with a minimum deposit of Rs 250 and a maximum deposit of Rs 1.5 lakh in a financial year.

The 21-year confusion: When does Sukanya Samriddhi Yojna mature? Explained

<p>New Delhi: The Department of Economic Affairs (DEA), Ministry of Finance had issued guidelines for processing the cases of regularization of irregularly opened accounts under various National Small Savings Schemes through post offices.</p><p>In a circular issued in August this year, the DEA introduced new guidelines to regularize irregularly opened National Savings Scheme (NSS) accounts, PPF accounts opened in the name of minors, multiple PPF accounts held by the same person and PPF accounts extended by Non-Resident Indians (NRIs). The guidelines also cover Small Savings Scheme accounts opened in the name of minors, except PPF and Sukanya Samriddhi Accounts (SSA), as well as Sukanya Samriddhi Accounts opened by grandparents who are not the child’s legal guardian.</p><p>The DEA has issued guidelines explaining what will happen if more than two SSY accounts are opened in the name of a daughter or if an SSY account is opened by grandparents who are not the child’s legal guardians.</p><p>(a) In the case of accounts opened under the guardianship of grandparents who are other than legal guardians, the guardianship shall be transferred to a person entitled under the law in force, that is, to the natural guardian (alive parents) or legal guardian.</p><p>(b) If more than two accounts are opened in a family in violation of Para 3 of the Sukanya Samriddhi Account Scheme, 2019 then the irregular accounts shall be closed by treating it as an account opened in contravention to the scheme guidelines.</p><p>The circular said that all post offices are directed to obtain PAN and Aadhaar details of the account holder(s)/guardian if not already available without fail and feed the same in the system before forwarding the regularization requests to this office.</p><p>All post offices will take urgent action to identify such accounts and inform account holders of the approved guidelines through all channels. All circles/regions/divisions were requested to proactively track cases that need regularization so as to avoid inconvenience to account holders of the small savings schemes.</p><h2>Who Can Open Sukanya Samriddhi Account?</h2><p>A Sukanya Samriddhi Account can be opened for a girl child before she turns 10 years old. The account can be opened at post offices or at notified branches of commercial banks. The rate of interest is 8 percent per annum, calculated on a yearly basis and compounded yearly.<br><br>A Sukanya Samriddhi Account can be opened with a minimum of Rs 250 and a maximum of Rs 1,50,000 in a financial year. Subsequent deposits are in the multiples of Rs 50. Deposits can be made in lump sums. There is no limit on the number of deposits either in a month or in a financial year.</p><p> </p>

The DEA has issued guidelines explaining what will happen if more than two SSY accounts are opened in the name of a daughter or if an SSY account is opened by grandparents who are not the child’s legal guardians.

Have you opened 2 Sukanya Samriddhi Accounts for your daughter? Check govt guidelines

Have you opened 2 Sukanya Samriddhi A/c for your daughter? Check govt guidelines

<p>The government has announced that the interest rates for small savings schemes viz PPF, Senior Citizen Savings Scheme, Sukanya Samriddhi Scheme will remain same for the third quarter of FY2026-27.</p><p>PPF interest rate remains at 7.1 percent per year, meaning investors will continue to earn the same rate as in the previous quarter.<br><br>PPF is a popular long-term savings scheme backed by the government. It helps people build a savings fund while enjoying tax benefits under the applicable rules.</p><h2>PF calculation for 5 years extension</h2><p>If members extend their account for another five years making the total investment period 20 years then they will have a total of around Rs 66.58 lakh. This includes Rs 30 lakh invested and Rs 36.58 lakh earned as interest.</p><h2>How Much Will You Get After 15 Years of PPF Investment?</h2><p>According to calculations, at the current interest rate of 7.1 percent per year, if members invest Rs 1.5 lakh every year in a PPF account for 15 years then their total investment will be Rs 22.5 lakh. At the end of 15 years, they will receive approximately Rs 40.68 lakh including Rs 18.18 lakh earned as interest.</p><h2>Withdrawal rules applicable to PPF</h2><p>PPF account holders can make one withdrawal each financial year after completing five years, excluding the year the account was opened. They can withdraw up to 50 percent of the balance from either the fourth year before the withdrawal or the previous year whichever amount is lower. If the account is extended with further deposits then members can withdraw once a year, up to 60 percent of the eligible balance. The account can also be closed before maturity under certain conditions.</p><h2>Lock-in (maturity) period and extension</h2><p>The PPF account has a lock-in period of 15 years. Account holders can extend it in blocks of five years. During the extension period, investors can withdraw money once every year. Members must extend the account within one year of its maturity. Members must deposit money at least once every year for the first 15 years and also during the extension period.</p><h2>Opening a PPF account</h2><p>Any resident individual can open a PPF account for themselves or as a guardian for a minor or a person of unsound mind. A person can deposit a minimum of Rs 500 and a maximum of Rs 1.5 lakh per financial year in the PPF account. Under the old tax regime, investors can claim a tax deduction of up to Rs 1.5 lakh per financial year.</p><h2>Interest rate on PPF</h2><p>The interest rate for PPF is 7.1 percent per year. Since the government has not changed the rate, investors will continue to earn the same interest as in the previous quarter.</p><h2>PPF Interest Rate 2026</h2><p>The central government has decided not to change the interest rates on small savings schemes. The PPF interest rate is 7.1 percent per annum for the October–December 2026 quarter.</p><p> </p>

PPF is a popular long-term savings scheme backed by the government. It helps people build a savings fund while enjoying tax benefits under the applicable rules.

How much return will PPF depositors get on 5 years extended period withdrawals?

PPF interest rates remain unchanged for Oct-Dec quarter: How much return depositors will get on 5 years extended period withdrawals? check calculation

<p>New Delhi: Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme that helps parents build a financial fund for their daughters. The scheme encourages families to save for the educational, marriage and future needs of the daughter.</p><h2>Premature Closure in Sukanya Samriddhi Yojna</h2><p>In the unfortunate event of the death of the account holder, the account can be closed after submitting an application and the death certificate issued by the competent authority. The remaining balance and applicable interest up to the date of death will be paid to the guardian or eligible claimant. Interest for the period after death until closure will be calculated according to the applicable Post Office Savings Account rate. Premature closure may be considered in certain exceptional circumstances such as a life-threatening medical condition affecting the account holder or the death of the guardian. Supporting documents must be submitted. However, it must be noted that premature closure is generally not permitted during the first five years after opening the account.</p><h2>Sukanya Samriddhi Yojana Withdrawals</h2><p>An account holder can apply for a withdrawal of up to 50 percent of the balance at the end of the preceding financial year specifically for educational purposes. This withdrawal is permissible only after the account holder turns 18 or completes the 10th standard, whichever comes first. The account holder must submit an application along with supporting documentation such as a confirmed offer of admission or a fee-slip from the educational institution detailing the financial requirements. Withdrawals can be made either as a lump sum or in installments with a maximum of one withdrawal per year for up to 5  years.</p><h2>Maturity of Sukanya Samriddhi Yojna Account</h2><p>The SSY account matures upon the completion of 21 years of the account holder from its opening date. However, early closure is allowed under specific circumstances particularly if the account holder intends to marry before reaching maturity. In such cases, the account holder must submit an application and provide proof of age confirming that they will be at least 18 years old on the marriage date. This early closure can only take place within one month before the planned marriage and must be completed within three months after the marriage. After approval, the account holder can fill out an application form to withdraw the remaining balance along with the applicable interest whenever needed.</p><h2>Interest Calculation in Sukanya Samriddhi Yojana</h2><p>Interest is calculated every month based on the lowest balance in the account from the 5th day of the month to the last day. The interest earned is added to the account at the end of each financial year. Any amount of 50 paisa or more is rounded up to the next rupee while amounts below 50 paisa are disregarded. Interest is credited at the end of the financial year even if the account is transferred to another office.</p><h2>Managing Sukanya Samriddhi Yojna Account</h2><p>The parent or legal guardian manages the SSY account until the girl turns 18. This allows the gurdian to manage the savings for her education and other eligible future needs. After turning 18, the girl can manage the account herself by submitting the required documents.</p><h2>Minimum and Maximum Deposit required</h2><p>SSY accounts can be opened by parents for their daughters at any post office or designated commercial bank branch. The minimum initial deposit is Rs 250 and subsequent deposits can be made in multiples of Rs 50, provided that at least Rs 250 is deposited in a financial year. The total annual deposit limit is capped at Rs 1,50,000. Any excess amount will not earn interest and will be returned. Deposits can be made for a period of up to 15 years from the account opening date.</p><h2>Documents Required to Open Sukanya Samriddhi Account</h2><p>The following documents are generally required for opening an account:<br><br>* Birth certificate of the girl child.<br>* Identity proof of the parent or legal guardian as per RBI KYC guidelines.<br>* Residence proof of the parent or legal guardian as per RBI KYC guidelines.</p><h2>How to Open Sukanya Samriddhi Account</h2><p>A parent or legal guardian can open an account for a girl child immediately after her birth until she turns 10 years old. Any girl child who is a resident Indian from the time of opening the account till the time of maturity/closure is eligible for the scheme. Only one account is allowed per child. Parents can open a maximum of two accounts for each of their children. However, there is an exception allowed for more accounts in case of twins or triplets. The account can be transferred to anywhere in India.</p>

A parent or legal guardian can open Sukanya Samriddhi account for a girl child immediately after her birth until she turns 10 years old.

How to open Sukanya Samriddhi Yojana a/c for girl child? Deposit, withdrawal, interest rate explained

How to open Sukanya Samriddhi Yojana a/c for girl child? Details explained

<p>New Delhi: The Insurance Regulatory and Development Authority of India (IRDAI) is considering requests from industry participants to extend the deadline for comments on its proposed insurance distribution reforms, according to a report.</p><p>IANS report-- citing news sources -- reported that the regulator has not yet taken a final decision but is open to reviewing stakeholder representations and could grant extensions in select cases.</p><p>IRDAI is currently evaluating feedback received on its consultation paper and is keen to ensure broad participation before finalising the framework, it added.</p><p>Stakeholders are currently required to submit comments by October 25, while the proposed reforms are slated to come into force from January 1, 2027.</p><p>The consultation paper released in September proposes sweeping changes to the way insurance products are sold and distributed in India.</p><p>Key measures include product- and channel-specific limits on distributor commissions, a phased tightening of expense management norms for insurers, a simplified three-layer distribution architecture and provisions to recover commissions in instances of mis-selling.</p><p>However, the proposals sparked sharp reactions across the insurance distribution industry, particularly among brokers and digital intermediaries.</p><p>Shares of listed insurance distributors came under heavy selling pressure after the paper was released with PB Fintech -- the parent company of Policybazaar -- witnessing a steep decline.</p><p>In addition, industry groups have stepped up engagement with the regulator in recent weeks.</p><p>The Insurance Brokers Association of India (IBAI) met senior IRDAI officials last week and sought additional time to review and respond to the proposals, according to the report.</p><p>IRDAI is seeking to gather views from all segments of the insurance ecosystem before taking a final call, the news report said adding that the regulator remains focused on implementing reforms within the proposed timeline and is also mindful of concerns raised by distributors, insurers and other market participants.</p><p>The regulator's willingness to consider changes was signalled by IRDAI Chairman Ajay Seth earlier this month.</p><p>Seth said the authority was open to modifying aspects of the framework based on stakeholder feedback and was examining suggestions, including the possibility of phasing in commission-related reforms.</p>

IRDAI is currently evaluating feedback received on its consultation paper and is keen to ensure broad participation before finalising the framework, it added.

IRDAI open to extending feedback window on insurance distribution reforms

<p>New Delhi: Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme that helps parents save money for their daughter's future. An account can be opened in the name of a girl child before she turns 10 years old.</p><h2>Sukanya Samriddhi Account for Girl Child Below 10 Yrs</h2><p>SSY can be opened in the name of a girl child till she attains the age of 10 years. The account can be opened at post offices and authorised branches of commercial banks. The rate of interest on SSY is 8.2 percent per annum, calculated on a yearly basis and compounded yearly.</p><h2>Sukanya Samriddhi Account Minimum/Maximum Deposit</h2><p>Parents or guardians can open an SSY account with a minimum deposit of Rs 250. The maximum deposit amount is Rs 1,50,000 per financial year. There are facilities for additional deposits in multiples of Rs 50. Deposits can be made in lump-sum. There is no limit on the number of deposits in a month or financial year.</p><h2>Is Aadhaar of the Parent/Guardian Mandatory for Opening SSY?</h2><p>Yes, Aadhaar is required for the parent or guardian opening the SSY account. If the parent or guardian has applied for Aadhaar but has not yet received it, proof of Aadhaar enrollment can be submitted to open the account. However, the Aadhaar number must be provided within six months of opening the account. If Aadhaar is not submitted within this period, the account will become inoperative until the Aadhaar is provided.</p><h2>Is Aadhaar of the Girl Child Mandatory for Opening SSY?</h2><p>No, Aadhaar of the girl child is not mandatory for opening a Sukanya Samriddhi Account. Parents can open an account in the name of their daughter using her birth certificate and the required documents of the parent or guardian.</p><h2>Documents Required To Open Sukanya Samriddhi Yojana Account</h2><p>The following documents are generally required to open Sukanya Samriddhi Yojana Account:<br>Sukanya Samriddhi Account opening form.<br>Birth certificate of the girl child.<br>Address proof of the parent or guardian.<br>Identity proof of the parent or guardian.</p><h2>Who Can Operate Sukanya Samriddhi Account On Behalf of Minor?</h2><p>A Sukanya Samriddhi Account can be opened by a parent or legally appointed guardian on behalf of a girl child who is under 10 years old. The account is opened in the girl's name while the parent or guardian operates it on her behalf while she is a minor. Under the scheme's rules, only one account is permitted per girl child.</p><h2>Sukanya Samriddhi Account Income Tax Benefits</h2><p>The Sukanya Samriddhi Account gives major tax benefits to the subscribers. Investments made in Sukanya Samriddhi Account are eligible for tax deductions under Section 80C of the IT Act. Eligible deposits qualify for a deduction of up to Rs 1.5 lakh per financial year. The interest that accrues against this account which gets compounded annually is also exempt from tax under Section 10 of the Income Tax Act. Eligible maturity and withdrawal proceeds are also exempt from income tax under the scheme's applicable rules.</p><p> </p>

Sukanya Samriddhi Yojana can be opened in the name of a girl child till she attains the age of 10 years.

Is girl child's Aadhaar mandatory for opening Sukanya Samriddhi Account?

<p>New Delhi: Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme that helps parents save money for their daughters’ future. Regular deposits are accepted for this fixed-income investment and the scheme also offers interest on deposits allowing parents to build a fund for their daughter's education and other needs.<br><br>Parents can deposit money into an SSY account through cash, cheque, demand draft or online transfer. To deposit money online, you need an India Post Payments Bank (IPPB) savings account. You can then use the IPPB mobile app to transfer money to your daughter's SSY account.<br><br>How to Open Sukanya Samriddhi Yojana Account</p><p>Parents can open an SSY account at a post office or an authorised bank that offers the scheme. Parents have to visit their nearest post office or authorised bank branch and complete the account-opening process for their daughter. Once the account is opened and parents have received the SSY passbook, they can proceed with online deposits.<br><br>Sukanya Samriddhi Yojna: Step-by-step guide to transferring money online to your SSY account<br>Here are the simple steps to deposit money into your Sukanya Samriddhi Yojana account online:<br><br>* Download the IPPB app and register for an account.<br>* Add money to your IPPB account from your regular bank account.<br>* Open the app and go to the DOP Products section. Choose Sukanya Samriddhi Yojana.<br>* Provide your SSY account number and customer ID.<br>* Type in the amount you want to deposit and select the available payment or installment option.<br>* You will receive a notification once the payment transfer via the IPPB mobile application is successful.<br><br>These steps allow you to deposit money into your daughter's SSY account without visiting a post office every time.<br><br>Sukanya Samriddhi Yojna: Digital payments App - DakPay</p><p>Customers of the IPPB and post office can now use the government-launched DakPay app for digital payments. It offers digital payment and banking services to customers with the support of India Post and IPPB. Using DakPay, customers can send money, scan QR codes and make digital payments to merchants and for various services. The app aims to make banking and digital payments easier and more accessible.</p><p> </p>

Parents can deposit money into an SSY account through cash, cheque, demand draft or online transfer.

Parents can make Sukanya Samriddhi Yojana deposit online; here's the step-by-step procedure

Parents can make Sukanya Samriddhi Yojana deposit online; check how

<p>New Delhi: The Employees' Provident Fund (EPF) is a government-backed, long-term investment tool for employees' post-retirement life. It comprises contributions of 12 per cent of the basic salary each from the employer and the employee. However, of the employer's 12 per cent contribution, 8.33 per cent goes to the Employees' Pension Scheme (EPS). The funds in the EPF account earn interest at rates prescribed by the government.</p><p>Though EPF is meant for long-term investment to provide support after retirement, an employee may choose to withdraw the amount earlier in certain cases. These funds may enjoy tax benefits; however, withdrawal is not always entirely tax-free. The taxability of PF depends on the duration of service, fund size, and contributions. TDS deductions may also apply.</p><p>Before applying for withdrawal, the employee must check the tax liability, which depends primarily on the years of continuous service. Under Section 10(12) of the Income-tax Act, the entire amount, including the employer's contribution, the employee's contribution, and the interest earned, is tax-free if the employee has completed five continuous years of service.</p><p>Five continuous years of service does not imply that an employee must be associated with one employer throughout the period. Even if the employee changes jobs and the account is transferred from one establishment to another within five years, the service would be considered continuous.</p><p>Tax implications apply when the withdrawal is made before the completion of five years of continuous service. As per the provisions of the Income-tax Act, PF withdrawal is taxed under the head "salary", and taxability varies by component.</p><p>The law, however, provides exemptions in certain cases, and the employee may also claim tax deductions where applicable.</p><p>Withdrawals made under certain conditions enjoy tax benefits:</p><ul><li data-list-item-id="e0d2f7537d7cbcc02f492542cd2f05e28">The employee's poor health condition</li><li data-list-item-id="e33350dc3644f1652cac851eb86ac7d58">Closure or discontinuation of the employer's business</li><li data-list-item-id="e32b6c4a916a25f634bf77e991d91b40f">Circumstances beyond the employee's control</li></ul><p>If the employee has not yet completed five years of service but qualifies under one of the mentioned conditions, TDS would not be deducted. TDS exemption will also apply if the withdrawn amount is less than Rs 50,000.</p><h2>TDS implications</h2><p>No TDS applies to the amount withdrawn, including the interest, after five years of continuous service.</p><p>No TDS applies if the amount withdrawn is less than Rs 50,000 and the employee has yet to complete five continuous years of service.</p><p>TDS is deducted at 10 per cent if the amount withdrawn is Rs 50,000 or more, PAN details are furnished, and the employee has not completed five continuous years of service. TDS applies at a higher rate if PAN details are not available.</p><p>Partial withdrawals for specified purposes, such as education, housing, and marriage, are governed by different provisions.</p><p>Employees with nil tax liability should submit Form 121 to avoid TDS on EPF withdrawals.</p>

Though EPF is meant for long-term investment to provide support after retirement, an employee may choose to withdraw the amount earlier in certain cases. These funds may enjoy tax benefits; however, withdrawal is not always entirely tax-free.

EPF withdrawal: When is your PF taxable?

EPF withdrawal before 5 years: Know when your PF money attracts tax

<p>New Delhi: For someone with a predetermined goal to be achieved within a fixed time, it is important to save money somewhere safe that can generate returns at the same time. More often than not, investors choose either a Recurring Deposit (RD) or a Systematic Investment Plan (SIP) because of the potentially higher returns the two can generate, with SIP carrying the potential of more gains with enhanced risks.</p><p>RD and SIP both work on the principle of setting aside some money to invest each month. However, the nature of the investment and the growth of money differ completely. The returns are thus significantly different from each other.</p><p>Where you decide to put the money depends on your goals, preferences, and appetite for risk. The core choice you would have to make depends on whether you prefer higher returns with potential risk or guaranteed but limited returns.</p><h2>Recurring Deposit</h2><p>As part of a Recurring Deposit, the investor puts a fixed amount into a bank or post office account. The returns are generated through interest, whose rate is fixed at the beginning. Thus, the total value of the corpus at the end of the tenure is predictable and guaranteed.</p><h2>Systematic Investment Plan</h2><p>SIP is a way to invest money in mutual funds rather than a tool of investment in itself. Under an SIP plan, a fixed amount goes into mutual funds at regular intervals. This pool of money is then allocated by fund managers to buy assets such as equity funds, hybrid funds, and debt funds, etc. An equity mutual fund invests money in shares. The returns are thus linked to the market and depend on the performance of the shares.</p><p>Markets go through ups and downs. However, a longer investment tenure may give such short-lived fluctuations more time to even out and reduce the chances of loss. The trade-off with an SIP becomes apparent when share prices are down at the time the investor wants to redeem the money.</p><h2>SIP vs RD</h2><p>For someone with a fixed goal that is five years away, such as wedding expenses, a foreign vacation, or a car, an RD may prove to be a safer option with guaranteed returns. If the investment is well planned, keeping in mind the maturity period and the expected corpus by the end, someone who cannot deal with the highs and lows of the market should invest in an RD.</p><p>However, the returns can be considerably lower than the gains from equity mutual funds. The limited returns would also be subject to tax under the applicable tax slab.</p><p>An SIP might be suitable for someone who is experienced in market investments or can readily tolerate market volatility. For such a person, the prospect of higher returns is more important than the risk to the funds.</p><p>Yet, for a fixed goal and with an adequate amount to invest every month, an RD would be a safer choice, while an SIP would be best for long-term goals and wealth creation.</p>

RD and SIP both work on the principle of setting aside some money to invest each month. However, the nature of the investment and the growth of money differ completely. The returns are thus significantly different from each other.

SIP vs RD: Which is better for a 5-year goal?

5-year financial goal: Should you invest in SIP or RD?

<p>New Delhi: A Fixed deposit (FD) is not usually the first choice of an investor seeking high returns and wealth growth. A person chooses FD to keep some money aside for different purposes while getting decent gains on it. Choosing a single FD to put away all your money may not be the best option since it may lock-in the entire amount in one place, restricting the liquidity and limiting the returns.</p><p>The corpus would grow as per the interest rate applicable under that particular FD, affecting the growth potential of investor's money. Therefore, one may consider FD laddering to ensure liquidity while distributing the corpus across different FDs for savings, even with modest returns.</p><p>FD laddering is a strategy which includes dividing the corpus into portions that go into multiple FDs with different tenures and interest rates. It enables liquidity of funds through different tenures, without having to break the deposit and withdraw the entire sum. While one of the FDs matures, others are still locked in as they continue generating interest.</p><h2>WHY NOT A SINGLE FD?</h2><p>Breaking the deposit would be the only option left when there is an urgent need of money but all the money is invested in one FD. This may disrupt the person's savings and investment plans.</p><p>Laddering is better than investing the money in a single FD for a long tenure, otherwise the entire sum would be out of reach and generate returns at a uniform interest rate, thus limiting the scope. In case of urgent need, you would need to make a premature withdrawal, which carries a penalty of around 0.5-1 percent on the applicable return rate.</p><p>FD laddering also allows investors to take advantage of changing interest rate cycles. An investor can assess the rate cycle and lock in at the peak time which can be repeated with all the portions. Even if that does not happen, the money is exposed to different interest rates.</p><h2>FD LADDERING STRUCTURE</h2><p>Suppose an investor has a sum of Rs 5,00,000 to invest, which can be divided into 1-year, 2-year, and 3-year FDs. They may allocate the lump sum across these tenures:</p><p>-- Rs 1 lakh: 1-year FD<br>-- Rs 2 lakh: 2-year FD<br>-- Rs 2 lakh: 3-year FD</p><p>Alternatively, FDs with short maturity periods of a quarter or 6 months can be choosen if the money is needed for a near-term goal.</p><p>-- Rs 1 lakh: 6-month FD<br>-- Rs 1 lakh: 1-year FD<br>-- Rs 1 lakh: 2-year FD<br>-- Rs 2 lakh: 3-year FD</p><p>Either way, the money is constantly growing in other deposits even when one of them matures and is withdrawn.</p><p>Following the maturity of one portion, the person may reinvest it in another FD.</p><p> </p>

The corpus would grow as per the interest rate applicable under that particular FD, affecting the growth potential of investors money. Therefore, one may consider FD laddering to ensure liquidity while distributing the corpus across different FDs for savings, even with modest returns.

How to withdraw money without breaking your FD

FD laddering: How to earn returns and withdraw money without breaking your FD

<p>New Delhi: The National Pension System (NPS) allows subscribers to build a retirement fund through regular contributions. Enrolling in the scheme usually requires one to visit a branch, complete paperwork, or register online through the NPS portal. However, both processes consume time and might feel complicated. Therefore, the NPCI BHIM Services Limited (NBSL) announced the Tatkal NPS service on the BHIM payments app.</p><h2>What is Tatkal NPS?</h2><p>Regulated by the Pension Fund Regulatory and Development Authority (PFRDA), NPS is a government-backed scheme that aims to provide financial security to subscribers post-retirement by setting aside a small portion of their earnings to accumulate in the pension fund. The returns are linked to the market and may differ from one year to another.</p><p>Traditionally, the procedure for opening an NPS account involves visiting a branch and completing paperwork.</p><p>Tatkal NPS is a facility that allows users to create an NPS account without needing fresh paperwork or a branch visit. People can now use BHIM's Unified Payments Interface (UPI) service to enrol. However, subscribers must have bank-verified KYC.</p><p>To open the account, one has to enter the date of birth, select the eligible bank account, and make the first contribution.</p><p>PFRDA Chairperson S. Ramann said that UPI had transformed the way India pays and that Tatkal NPS could transform the way India prepares for retirement.</p><p>"With just three clicks, any eligible citizen can open a pension account through our partnership with NPCI, banks and UPI apps. Our mantra is simple: Grow rich before you grow old. And we want this message to reach every street, every village and every Indian," Ramann added.</p><h2>Who can open the account?</h2><p>Any eligible Indian citizen aged between 18 and 85 years can enrol in the scheme through the Tatkal NPS facility available on the BHIM payments app. The person has to begin with a minimum contribution of Rs 250.</p><h2>Banks available on BHIM</h2><p>State Bank of India</p><p>HDFC Bank</p><p>ICICI Bank</p><p>Axis Bank</p><p>IndusInd Bank</p><p>Bank of Baroda</p><p>More banks will subsequently be added, according to NPCI BHIM Services Limited.</p><p>Lalitha Nataraj, Managing Director and CEO of NBSL, said, "UPI has already become a daily financial behaviour for hundreds of millions of Indians. The next opportunity is to improve access to products such as NPS. Tatkal NPS on BHIM addresses the first barrier, getting started, by allowing eligible users to open an NPS account directly through a UPI app. Tatkal NPS now enables eligible users to open an NPS account through the app, extending BHIM's role from facilitating contributions to supporting NPS onboarding."</p><p>(With inputs from IANS)</p>

Regulated by the Pension Fund Regulatory and Development Authority (PFRDA), NPS is a government-backed scheme that aims to provide financial security to subscribers post-retirement by setting aside a small portion of their earnings to accumulate in the pension fund.

How to open NPS account at home through Tatkal NPS

'Tatkal NPS' on BHIM payments app: Open your National Pension System (NPS) account at home

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