Personal Finance News
Practical news and updates on money management — from tax-saving strategies and insurance changes to loan rate adjustments and credit card offers. This section focuses on what directly impacts your wallet: new government schemes, changes in income tax rules, bank interest rate revisions, and tips on budgeting and building wealth. Whether you are planning for your first investment or optimising an existing financial plan, the updates here help you make smarter everyday money decisions.
₹159.59 crore salary shortfall: Mizoram's autonomous councils say DA, pay revisions, increments straining finances
Mizoram's three autonomous councils are facing a salary shortfall of ₹159.59-crore salary shortfall and appealed seeking intervention from the state government. They said successive pay revisions, DA, annual increments and promotions had increased the financial strain. 
Export bonanza: How this Bengaluru farmer makes ₹50,000 a day by growing baby bottle gourds for Qatar market
Farmer Karigowda, who owns a 3.5-acre farm in Karlapura Palya in Bengaluru Urban district, grows bottle gourds that weigh around 500 grams each.
Want to withdraw money from your provident funds through UPI? Testing starts: Here are 3 things you should know | Report
EPFO is testing a UPI withdrawal facility. This will allow subscribers to withdraw their balance more conveniently. Here are 3 things you should know.
EPFO wage ceiling hiked to ₹25,000: Likely enhancements in social security coverage — pension, insurance, explained
The Cabinet increased the EPF wage ceiling to ₹25,000, expanding coverage for 51 lakh employees. This change, the first in 12 years, raises employer contributions and enhances pension benefits for long-term subscribers, impacting total accumulated corpus.
5 money lessons from international bestseller ‘I Will Teach You to Be Rich’ by Ramit Sethi
Ramit Sethi's ‘I Will Teach You to Be Rich’ is an international bestseller. Here are 5 money lessons from the personal finance book.
Bajaj Finance raises FD rates by up to 40 bps; senior citizens can earn up to 8.15% – check details
Bajaj Finance has raised FD interest rates by 15-40 basis points across 12-60 month tenures. Senior citizens can now earn up to 8.15% on fresh deposits and 8.25% on renewals, while regular depositors can earn up to 7.75% and 7.85%, respectively.
Bajaj Finance FD interest rates hiked: More money on your principal now; this segment can earn up to 8.15%
Bajaj Finance has raised FD interest rates by 15-40 basis points across 12-60 month tenures. Senior citizens can now earn up to 8.15% on fresh deposits and 8.25% on renewals, while regular depositors can earn up to 7.75% and 7.85%, respectively.
Billionaires like former Twitter CEO Parag Agrawal are bullish on artificial intelligence: Check options to invest in AI
India's AI sector is gaining prominence, with 19 individuals listed on the M3M Hurun India Rich List 2026, collectively worth ₹3.07 lakh crore. 
Bank account nominee dies before the holder? Know what happens to the money
What happens if a bank account nominee dies before the account holder? Know the latest rules on simultaneous and successive nominations, how the deceased nominee’s share is treated, and what legal heirs may need to do to claim the money.
Lost your credit card? 5 steps you should take immediately to avoid fraud
Lost your credit card? Acting quickly can help limit the risk of unauthorised transactions and fraud. Block the card, disable contactless payments, check recent transactions, secure digital wallets, report suspicious activity and request a replacement card.
8th Pay Commission Bengaluru meeting today: Postal employees seek higher pay, HSG-I upgrade
The 8th Pay Commission begins its Bengaluru meeting today as employee unions push key demands on pay, allowances and service conditions. Postal employees have sought Level 9 for HSG-I, Level 10 or above for HSG-I (NFG), Group B gazetted status and a 10% responsibility allowance.
Planning an adventure holiday? Check if you have the right travel insurance
Adventure sports such as diving, trekking and rafting may not be covered by standard travel insurance. Here’s what Indian travellers should check before buying a policy.
UPI MDR Charges: Will newly introduced fees impact your Diwali, Dhanteras shopping bills?
UPI MDR will apply to select merchant transactions above ₹2,000 from 15 October 2026, but consumers will not have to pay the charge. Here’s what the new rules mean for Diwali and Dhanteras shopping, including high-value purchases.
Let commissions fall: Why we should welcome the Irdai reforms
Irdai’s proposed commission reforms are a step forward, but better claims data are needed to ensure consumers can judge not just what insurance costs, but what it delivers.
Retired professor waited 12 years for pension benefits, Telangana rights panel directs NIMS to pay within 3 weeks
A Telangana retired professor waited nearly 12 years for his pensionary benefits after taking voluntary retirement. The Telangana Human Rights Commission has now directed NIMS to settle his dues within three weeks.
8th Pay Commission Bengaluru meeting today: 5 latest updates central govt employees need to know
The 8th Pay Commission begins its meetings in Bengaluru today. Here are the five latest updates on consultations, fitment factor, salary, allowances and pensions, and what central government employees and pensioners should know about the ongoing process.
Paid a large credit-card bill in cash? ITAT ruling explains when the tax department can question the source of money
A Jaipur ITAT ruling offers relief to taxpayers making large cash payments from bank withdrawals. The tribunal said every credit-card payment need not be matched to a specific withdrawal if the taxpayer can establish the source and availability of the cash.
Cyber fraud: How customers can prevent their bank accounts from being used as mule accounts
Experts advise customers to be particularly cautious about unsolicited job offers, schemes promising easy money and requests to ‘rent’ or ‘lend’ a bank account
India's fastest wealth creator is from Kolkata: Net worth jumps 859% to ₹18,800 crore: Who's he? What does he produce?
Aditya Kumar Halwasiya of Kolkata is India's fastest wealth creator, with an 859% increase, reaching ₹18,800 crore. He ranks 193 after rising 939 places.
Salaried taxpayers: Key checks to make in 2026 for your next ITR — expert explains changes under Income Tax Act 2025
The Income-tax Act, 2025, brings changes that salaried taxpayers will encounter in payroll records, tax forms and their next ITR. From updated section references to revised reporting requirements, here’s what taxpayers should check and keep in mind.
Stepmother wins Supreme Court property battle: How Karnataka man’s bid for father’s entire fortune backfires
The Supreme Court held that the stepmother acquired an interest in her deceased husband's share under the Hindu Women's Rights to Property Act, 1937.
Zerodha’s youngest investor is just 28 days old: How to open a free minor account online on the stock brokerage platform
Nithin Kamath revealed that Zerodha's youngest customer is just 28 days old. Check how to set up a minor account online. 
Can a married daughter be denied inheritance rights? Here's what Himachal Pradesh HC ruled
The judgment highlights the distinction between applying for a fresh government land grant and inheriting rights arising from an existing grant.
Minimum Wage hike: These 5 US states to raise pay in 2027 by up to 60%, with rates hitting $17.73 an hour
US minimum wages will rise in 5 states in 2027, with Washington leading at $17.73 an hour. Seattle's rate will hit $22.14.
Does your will cover everything you own? Here’s what can go wrong
A will can be legally valid yet leave part of an estate undisposed. A well-drafted residuary clause can help ensure assets not covered by specific bequests pass to the intended beneficiaries.
IRDAI commission caps: Insurance brokers write to PM, FM — say proposed rules may not benefit policyholders
IRDAI has proposed changes to insurance commission structures, including caps for banks, brokers and agents across products. Insurance brokers have opposed the proposals, raising concerns over their impact on distributors, jobs and the wider insurance sector.
Soft vs hard enquiries: Checking your own credit report? Know why it won’t hurt your credit score
Checking your own credit report does not lower your credit score because it is generally a soft inquiry. Understand the difference between soft and hard enquiries, why lender checks can affect your score, and how regular credit monitoring can help detect errors and fraud.
Checking your own credit report? Know why it won’t hurt your credit score
Checking your own credit report does not lower your credit score because it is generally a soft inquiry. Understand the difference between soft and hard inquiries, why lender checks can affect your score, and how regular credit monitoring can help detect errors and fraud.
Young investors may be hurting their long-term returns with this investing habit, here’s how to avoid it
Young investors are checking their portfolios and trading more frequently, but excessive monitoring can encourage short-term thinking. The CFA Institute says investors should stay engaged without letting every market movement trigger a change in their long-term investment plan.
UPI MDR Charges: When do the provisions take effect? How does it compare with international payment systems?
From 15 October 2026, a 0.4% MDR will apply to specified UPI merchant transactions above ₹2,000, capped at ₹300 for transactions of ₹75,000 and above. Consumers and P2P payments remain free, while India’s model differs from digital-payment fee structures in other countries.
Best flexi-cap funds October 2026: Bank of India leads YTD, 3-year and 5-year returns. Here are the top performers
Bank of India Flexi Cap Fund leads the flexi-cap category in 2026 YTD, three-year and five-year returns. We look at the top five funds across each period and what the rankings mean for investors comparing flexi-cap funds.
When can you claim tax benefits on home loan for under-construction property? Tax expert explains
Home loan tax benefits for an under-construction property are not automatically available from the first EMI. Principal repayment, pre-construction interest and post-completion interest follow different rules, while the property’s completion date and chosen tax regime can affect eligibility.
Bond laddering: a simple way to manage interest-rate risk
Bond laddering spreads a lump-sum investment across instruments with different maturities, helping investors manage reinvestment risk while creating a regular flow of cash.
Digital arrest scam: 67-year-old woman loses ₹13 lakh to fake police officials; 5 money lessons for senior citizens
A 67-year-old woman in Maharashtra allegedly lost ₹13 lakh after cyber criminals posing as police officials threatened her with arrest. Here are 5 key money lessons for senior citizens.
The economics of group health distribution
Irdai’s proposed distribution reforms need to account for the economics of group health insurance, where commissions are already low and intermediaries provide significant services to employers and employees.
8th Pay Commission: How fitment factor could change Level 6, 7 and 8 basic pay
8th Pay Commission resumes consultations in Bengaluru on 7 October. Here is what different fitment factors could mean for Level 6, 7 and 8 basic pay, amid employee union demands for higher salaries.
Booked a rental car online? These hidden charges and damage fees can increase your final bill, expert explains
A rental car’s advertised price may not be the final bill. Here are the charges and damage-liability terms customers should check before booking a self-drive car.
Tax department rejected ₹37.82 lakh deduction, but ITAT cancelled the 200% penalty: What the ruling means
A Bangalore ITAT ruling has deleted a ₹23.31 lakh penalty imposed on a cooperative housing society that claimed a ₹37.82 lakh deduction under section 80P. The tribunal said a fully disclosed, bona fide claim on a debatable tax issue does not amount to misreporting.
Starting your first job at 21? Here’s how to start building your credit score without taking unnecessary financial risk
Starting a credit journey at 21 does not mean taking on unnecessary debt. A secured or entry-level credit card, disciplined spending, timely full repayments and controlled credit utilisation can help young borrowers build a strong credit history.
8th Pay Commission: Salary, pension, fitment factor — What employee unions want ahead of Bengaluru meeting
8th Pay Commission: Bengaluru meeting will hear stakeholder views on salaries, fitment factors, allowances and pensions. IRTSA has sought higher minimum pay and fitment factors, while RSCWS has called for stronger basic pay and better retirement security, with similar demands expected to be tabled. 
ITR filed in July, but refund still not received? Expert explains key reasons for the delay and what taxpayers can do
Filed your ITR in July or August but still waiting for your refund? Delays can happen for several reasons, from mismatches in tax details to processing issues. Here’s what taxpayers should check on the e-filing portal and when they may need to take further action.
Are you eligible for interest on your ITR refund? Experts explain income tax rules, calculations and key conditions
Waiting for your ITR refund? A delayed refund does not automatically mean you will receive interest. Here’s when interest may be payable under Section 244A, how it is calculated, and the key conditions taxpayers need to know.
UPI MDR charges: How does it compare to traditional Debit, Credit Card per transaction? Cost difference explained
UPI MDR will apply to eligible P2M transactions above ₹2,000 from 15 October 2026. But how does its 0.4% charge compare with typical debit and credit card MDRs? Here’s a look at the transaction costs and how the charges differ across payment modes.
NRI tax rules: What happens to losses on foreign shares?
An NRI asks if a loss on UK stocks can offset gains on Indian shares, while another wants to know if former residents can use FAST-DS to disclose unreported US stocks.
Only 7 actors and cricketers are among the wealthiest in India: Who are they? Hurun Rich List
The M3M Hurun India Rich List 2026 features seven non-business figures showcasing their wealth accrued from entertainment, endorsements and various ventures.
Over 50% rise in wealthy Indians leaving the country; who's the richest NRI? Hurun Rich List 2026
According to the M3M Hurun India Rich List 2026, 156 wealthy Indians now reside overseas, an increase of 54%. Check who the richest NRI is.
Richest zodiac signs in India: Do you have the ‘wealthiest sun sign’? Find out | Hurun Rich List 2026
In the M3M Hurun India Rich List 2026, this zodiac sign leads wealth growth at 30.2%. Do you belong to this sun sign? Find out.
NPS Swasthya: How the new healthcare savings model works
NPS Swasthya combines a healthcare investment account with a mandatory super top-up health insurance policy.
GST Council may consider protection for genuine buyers losing input tax credit due to supplier default: Report
The GST Council may protect genuine buyers from losing input tax credit if suppliers default on tax payments. The proposal, discussed in the upcoming meeting, will ensure buyers aren’t penalised for a supplier’s tax default. Details here.
Taxpayer ignored 4 income-tax notices and faced ₹1.55 crore additions: What Delhi ITAT ruled and why it matters
Delhi ITAT has given a taxpayer another chance to contest ₹1.55 crore in income additions after she failed to respond to four appellate notices. The tribunal said the CIT(A) cannot dismiss an appeal without examining the issues on merits and passing a reasoned order. 
Frequently Asked Questions
How much of my income should I save and invest?
A widely recommended starting point is the 50-30-20 rule: 50% for needs (rent, food, EMIs), 30% for wants (dining, travel, entertainment), and 20% for savings and investments. If you can push investments to 30-40% of income, you will reach financial goals much faster. The exact ratio depends on your income level, fixed obligations, and goals. The most important thing is to automate your savings on salary day so you invest before you spend.
Should I pay off debt or invest first?
It depends on the interest rate. High-interest debt like credit card balances (30-40% APR) or personal loans (12-18%) should be paid off aggressively before investing, because no investment reliably returns more than these rates. For lower-rate debt like home loans (8-9%), it often makes sense to invest simultaneously — especially in equity, which historically returns 10-12% over the long term. Always maintain an emergency fund regardless.
What insurance coverage do I actually need?
At minimum, you need a term life insurance policy (10-15x your annual income, pure term plan, not endowment or ULIP) and a health insurance policy (Rs 5-10 lakh base cover, preferably with a super top-up). If you have dependents, life insurance is non-negotiable. Health insurance is essential for everyone — a single hospitalisation can wipe out years of savings. Avoid mixing insurance with investment; keep them separate for better value.