On July 23, 2024, Finance Minister Nirmala Sitharaman tabled Budget 2024-25, which carried an array of landmark changes, especially with regards to long-term capital gains tax. These changes include lowering of long-term capital gains tax rate to 12.5 percent (from 20 percent earlier) while indexation – that allows for adjusting the cost of asset with regards…
SBI Card has announced a set of changes to a number of its cards with regard to air accident insurance coverage. The proposed changes will come into effect on August 11, 2025. The credit card users of SBI Card will not have access to complimentary air accident insurance coverage amounting to ₹one crore on some of the…
The integration of multinational corporations into emerging economies has led to a marked increase in the cross-border movement of people. The individuals involved in such movements are referred to as expatriates, viz., persons residing and working temporarily in a foreign country while retaining citizenship of their home country. When these people are temporarily assigned from…
The number of Kisan Credit Card (KCC) accounts in public sector banks declined marginally by 1.8 per cent year-on-year to 22.5 million in fiscal 2025, while the outstanding loan amount grew by a marginal 2.2 per cent growth to ₹41,300 crore during the period, a senior government official said on the condition of anonymity. The…
The nation’s shift towards digital payments has resulted in virtual credit cards becoming increasingly popular, providing instant availability of credit, enhanced security, and seamless integration with e-commerce platforms. Recent official data underscores this momentum. In FY2024-25, the Unified Payments Interface (UPI) handled a record 18,587 crore transactions amounting to ₹261 lakh crore in value, representing…
In a shocking turn of events, one British man has been jailed for misusing the company’s credit cards to sponsor his trips to Disney World and for buying expensive gadgets. The accused is 32-year-old David Carr from Warwickshire, who worked in a Bromsgrove-based IT company. He has now been sent to jail for four years…
As a taxpayer, you are expected to be busy arranging relevant documents to file the income tax return (ITR) for FY 2024-25, the deadline for which will expire on September 15, 2025. The Income Tax (I-T) department has already released online utilities for ITR-1, ITR-2, and ITR-3. Here, we outline some key points to keep…
Instant personal loans are nothing but unsecured credit products developed to meet urgent financial requirements for diverse needs such as education, medical expenses, or home restoration. These loans are provided by banking institutions and NBFCs with minimal to no paperwork and seamless approvals. These loans are approved within 24 to 48 hours. Despite their convenience…
The Employees Provident Fund Organisation (EPFO) has announced that the allotment and generation of Universal Account Number (UAN) will be done only through the Aadhaar-based Face Authentication Technology (FAT) in the UMANG App. The new rule came into force on August 1, 2025. However, the existing process of generating UAN through the employer will continue…
In a recent statement shared on X, Elon Musk confirmed that he has no personal loans taken against Tesla as some had suspected, while reiterating his anxieties about being ousted by activist shareholders. The billionaire expressed optimism that these concerns would be addressed at the forthcoming shareholders’ meeting. It may be noted that Tesla on…
