Page 114 - Sunainaa Chadha/undefined

Decoded: Why India's millionaires are flocking to Dubai and Singapore

Prohibitive tax laws coupled with convoluted and complex rules on outbound remittances that are open to misinterpretation and abuse are among the problems that have triggered the migration

India to lose 6,500 millionaires in 2023, Dubai and Singapore top choice

This places India as the second-largest country in terms of HNWI outflow globally, following China (net loss of 13,500)

Small banks vs private/PSU banks: Where should you lock your money?

Here are some key points to consider when making your decision

How you can rebuild your credit score even after late payments

Start by reviewing your credit report and identifying the late payment entry. Understand the impact it has had on your credit score and how it may affect your overall creditworthiness.

Denied boarding due to overbooked flight? How to get Rs 20,000 as refund

The alternative flight is arranged within 24 hours of the original flight's departure, an amount of up to Rs 10,000 has to be paid as compensation by the airline.

What a hike in MCLR means for borrowers: Who gets impacted and who doesn't

Marginal Cost of Fund based Lending Rate refers to the minimum interest rate a bank must charge for lending. The bank cannot grant any loan below that rate, except in certain cases permitted by RBI

Why are airfares in India soaring and is there a way to beat it?

Airlines look at affordability, demand, availability and lots of other factors when pricing their flights

Bigger the better: Average flat sizes in Delhi NCR rise 50%

But Mumbai sees average flat sizes drop by 5 per cent

Rupay forex card out soon: Should you pick one over a credit/ debit card?

When you are travelling abroad you have broadly three easy options for making transactions - Prepaid cards, Debit Cards and Credit Cards.

Should you opt for one large fixed deposit or multiple smaller FDs?

For earning better returns, you can spread your investments across multiple fixed deposits with different maturity dates instead of locking all your funds in one fixed deposit for a longer period.

Why spate of bank deposit rate hikes could be a thing of the past

Around 85% of the Rs 2000 notes are deposited in the bank accounts and not exchanged for smaller denominations. Thus, bank deposits are likely to increase by atleast Rs 2 lakh crore

Debt mutual funds or FDs: What should you pick given RBI status quo?

With RBI keeping the key repo rates unchanged at 6.50 per cent, investors with surplus funds are looking to park their money. We decode whether they should stick to FDs or stick to debt funds

Rupay forex cards to your fixed deposits: How today's RBI policy impacts us

In order to expand payment options for Indians travelling abroad, the Reserve Bank of India governor decided to allow issuance of RuPay Prepaid Forex cards by banks in India for use at ATMs

Explained: Repo rate unchanged at 6.5%, worst over for home loan borrowers

The lowest rates being offered in the home loan market today are in the 8.40 to 8.50 for eligible borrowers.

Is FD a must? All your queries on opening a bank locker answered

Banks are already repeatedly releasing advisories to customers and urging locker holders to sign their revised contracts by June 30.

RBI policy: How a repo rate hike/cut impacts your home loans and EMIs

The EBLR serves as a benchmark rate that determines the interest rate applicable to the loan. So, with the hike in repo rate, all existing home loans on floating rates of interest became expensive.

Can you avoid 20% TCS if you book foreign tours with a credit card?

While booking a foreign package with an Indian tour operator will attract TCS right away, with a foreign tour operator, you can possibly escape TCS until international payments on your credit card

e-Rupi to wearables: How 50% of all transactions will be digital in 3 years

As of January 2022, there were 65 crore RuPay debit cards in circulation, accounting for 65% of the total debit cards issued

Explained: How to claim HRA if you are living with your parents

There's no prohibition to claim such deduction while living with houses owned by family member. However, to claim such deduction of HRA, one should be mindful of the following

How to book train insurance for less than a rupee, claim up to Rs 10 lakh

The Indian Railway Catering and Tourism Corporation (IRCTC) provides an optional travel insurance policy for passengers buying tickets from its online portal.