Paying the tax dues in advance over the financial year is better than leaving it for the last minute, which can be stressful. Calculating the tax liability and paying it is a cumbersome process and being regular with payments can help avoid the rush at the end of the financial
Technological advancement has modified the banking industry and transformed the communication between banks and their customers. Retail banking is changing by the day and traditional banks are facing competition from digital banks that offer access via an Internet-connected smartphone or any other device. Digitization allows you to access banking products
What do you think about when you hear the word “investing”? Stocks? SIPs? Equity mutual funds? All of us flock to these instruments with visions of supplementary income, building a retirement plan, or even achieving financial independence (a.k.a “seeing the world” or “opening my own microbrewery”). However – these
What is a Statutory Liquidity Ratio or SLR?Statutory Liquidity Ratio (SLR) is the essential reserves requirement expected from banks before giving customers credits. It is a minimum percentage that commercial banks have to adhere to in terms of cash, gold, or security. The Reserve Bank of India (RBI) does
The IPO boom took over Indian markets in 2021. Its effects are still evident, with major companies like LIC, Ola, Bajaj Energy, and Delhivery expected to issue IPOs in 2022. However, the initial enthusiasm has been replaced by wariness amongst consumers, with the stock prices of companies such as One97
The 50/30/20 rule provides a plan to budget your after-tax income into different spending buckets. How do you plan your expenditure? You all have access to limited financial resources and multiple avenues to spend them. So how do you allocate your scarce financial resources among your multiple competing
IntroductionIf you are a salaried employee, you must have come across the term "salary arrears" in your career. But, what exactly does payment in arrears mean? It's a bit of accounting jargon that everyone should know but is often misunderstood. Let's break it down and look at what the term
We all secretly desire a beautiful mansion, vacations steeped in luxury, and high-end cars and gadgets, don’t we? But, fulfilling these dreams costs money—a lot of it. And for most of us, money is a limited resource, something we always need to save for a rainy day. It
Before you avail of a loan, consider whether the lender you have approached has a provision to prepay the loan. Sometimes, when you have an excessive inflow of cash, you can direct the extra funds to your loan and pay it off before the end of its tenure. This is
An Equated Monthly Installment, popularly known as EMI, is a payment made by a borrower to the lender. This payment is constant or fixed and is made on a pre-determined date every month. The EMI consists of both the interest and the principal and when paid over the course of
Wondering what is liquidity ratio? Simply put, it is a metric that helps understand a company’s ability to pay off short-term debt. It is helpful to estimate whether a company’s current assets can cover its liabilities. It is largely used by banks and other financial institutions to determine
The Reserve Bank of India (RBI) is the apex bank of the country. It manages the supply of money to other commercial banks and largely controls the flow of money in the economy. To do so, the RBI makes use of the various monetary tools it has at its disposal,