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(Precious) Words of Wisdom : "Rich people have small TVs and big libraries, and poor people have small libraries and big TVs." ~ Zig Ziglar

Govt.'s New RBI Savings (Taxable) Bonds At Floating Rate

Recently, with effect from May 29, 2020, the Govt of India has stopped taking fresh subscriptions under its hugely popular 7.75% Savings (Taxable) Bonds, 2018 scheme.

And, in its place, it has introduced the new Floating Rate Savings Bonds, 2020 (Taxable). This new scheme is open for subscription with effect from July 1, 2020.

Small Savings Interest Rates: Pause After A Massive Cut

As you would be aware, last quarter the Govt. had announced a massive cut in the interest rates on the various Post Office Small Savings Schemes.

Therefore, on expected lines, it has decided to continue with the status quo for the next quarter.

Consequently, the interest rates for the current quarter i.e. July to Sept'20, shall remain unchanged compared to the previous quarter.

How To Protect Your Money From Digital Frauds

Many instances of people being duped, through online transactions, are reported in the media every day.

It is indeed unfortunate that such incidents happen and that too so frequently.

Fortunately, you can protect your hard-earned money by taking some very simple precautions.

PMVVY: LIC's Guaranteed Pension Gift For Your Senior Citizen Parents

In 2017, the Govt. of India had introduced an assured-income pension plan for the senior citizens, known as the Pradhan Mantri Vaya Vandana Yojana or PMVVY.

The scheme, to be managed by LIC, was open for one year only till Mar'18. However, it was later extended by two years until Mar'20.

And now the Govt. has again extended the PMVVY scheme for three more years until March 2023. But there's one key change - the rate of return has been reduced from 8% to 7.4%.

Sovereign Gold Bonds: Public Issues During Apr-Sept'20

Government of India, in consultation with the Reserve Bank of India, has announced the calendar for six Public Issues of Sovereign Gold Bonds (SGB) for the first half of the Financial Year 2020-21.

There will be one public issue of SGB every month starting from Apr'20 to Sept'20.

The first issue is scheduled from April 20th to 24th.

New Tax Laws On Your Foreign Remittances / Foreign Travel

Bad news! Soon you will have to pay tax when you transfer any money abroad or travel outside India.

As per the new provisions announced in the Union Budget 2020-21, Tax Collected at Source (TCS) will now be applicable to foreign travel and foreign remittances.

Massive Rate Cut On Post Office Small Savings Schemes

The Department of Economic Affairs, Ministry of Finance has announced the latest interest rates on the Post Office Small Savings Schemes for the first quarter of the Financial Year 20-21.

Till now the Govt. has generally made only some minor changes in the same. However, on this occasion, it has slashed the rates very (very) sharply.

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