Citizens Financial News

India, being the world’s fastest-growing economy for a decade now, has been bringing transformational changes in the lives of millions of its citizens, particularly its seniors. This assumes significance as India’s demographic landscape is undergoing a profound shift, with the share of elderly people aged 60 and above expected to surge from 8.6 percent of the population in 2011 to 19.5 percent by 2050, according to the Population Division of the United Nations’ Department of Economic and Social Affairs. In this backdrop, the country’s senior citizens are experiencing improved life expectancy to higher purchasing power parity and better awareness about investments which have led to a better quality of life post retirement for India’s nearly 14 crore senior citizens.

Department of Telecommunications (DoT) has advised telecom subscribers not to dial *401# followed by an unknown mobile number as it could lead to cyber fraud. A statement from DoT said citizens should beware of callers who ask them to dial *401# followed by an unknown mobile number. «This activates unconditional call forwarding received on the mobile of citizens to the unknown mobile number.

Sydney: Papua New Guinea's prime minister declared a state of emergency on Thursday, suspending government and police officials after 16 people were killed in rioting in the Pacific island nation. A police and public sector protest on Wednesday over a pay cut that officials blamed on an administrative glitch descended into lawlessness. Television footage showed thousands of people in the streets of the capital Port Moresby, many of them carrying what appeared to be looted merchandise as black smoke billowed over the city.

disabled, aged and non-human citizens. For persons with disabilities (PwD), life in India is like running on an unending obstacle course. What is more unfortunate is that even if a few among them manage to cross those hurdles — discrimination, lack of accessible infrastructure and facilities, and educational and skilling support, to name a few — most falter on yet another track: employment.

Myanmar's armed ethnic groups and the government forces, said Army Chief General Manoj Pande on Thursday, adding the Indian military is «closely watching» the unfolding developments. At a press conference ahead of the Army Day, General Pande described the situation near the Indo-Myanmar border as «concerning» and some of the insurgent groups are feeling the pressure in the frontier region of that country and are attempting to enter Manipur. «The situation across the Indo-Myanmar border is something that we are closely watching,» he said.

Henley Passport Index, released on Tuesday, India's passport has ascended to the 80th position worldwide. This elevated ranking now affords Indian citizens the privilege of unhindered exploration across 62 countries, alleviating the burden of intricate visa application procedures. The assessment of this ranking aligns with visa regulations effective as of January 11, as sourced from data provided by the International Air Transport Association (IATA). A cornerstone in displaying, organizing, and ranking global passports, the Henley Passport Index, reveals six countries — France, Germany, Italy, Japan, Singapore, and Spain — jointly holding the prestigious title of the world's most potent visa. Citizens from these nations enjoy the unprecedented freedom to traverse over 194 countries without dealing with pesky visa requirements. On the flip side, Afghanistan sits at the bottom rung of the list, granting its passport holders access to a mere 28 countries without a visa. Syria closely follows with visa-free entry to 29 destinations, trailed by Iraq with 31, and Pakistan with 34. Indian passport bearers can now revel in the liberty of visiting 62 countries, including Oman and Qatar, without the encumbrance of a visa. These destinations extend either visa-free entry or the convenience of visa-on-arrival for Indian travelers, as elucidated by the Henley Passport Index 2024. Here is the full list of destinations Indians can visit without getting a visa before travel:

fixed deposit (FD) rate to commemorate the commencement of the New Year for both Residents and Non-Resident Indians (NRIs). The scheme is running from January 8 to January 23, 2024.

Punjab National Bank(PNB)has hiked fixed deposit (FD) interest rates on amounts below ₹2 crore for the second time this month. Earlier the bank had hiked rates with effect from January 1, now the PSU lender has again increased rates on select term deposits with effect from January 8. 

most powerful passport list for 2024, with citizens allowed to travel to 62 countries without a visa. The country shares its rank with Uzbekistan, while the neighboring nation Pakistan is positioned at 101 spot. Singapore and Japan have boasted the world’s most powerful travel documents for the last five years, granting their citizens access to more countries without a prior visa than anyone else.

Nikhil Gupta, a 52-year-old Indian citizen entangled in an alleged plot to eliminate Sikh separatist Gurpatwant Singh Pannun. A federal judge in New York has recently taken a significant stride to ensure transparency in the evolving legal proceedings. The legal proceedings kicked off on January 4, 2024, when Gupta's legal team submitted a motion, urging the court to compel the release of discovery materials. Responding promptly, US District Judge Victor Marrero, through a directive issued on January 8, instructed the government to provide a response to the motion within a concise three-day timeframe.

Passport Index, offering their citizens visa-free access to a record-breaking number of destinations. According to data from the International Air Transport Association (IATA), France, Germany, Italy, Spain, Japan, and Singapore now boast the most powerful passports globally, enabling their citizens to visit an impressive 194 destinations out of 227 worldwide without the need for a visa. Are you immigration ready? Find out Four EU member states—France, Germany, Italy, and Spain—have now joined them at the top. Dr. Christian H. Kaelin, Chairman of Henley & Partners and the originator of the passport index concept, highlighted the widening global mobility gap. «The average number of destinations travelers can access visa-free has almost doubled from 58 in 2006 to 111 in 2024. However, the top-ranked countries now have a staggering 166 more visa-free destinations than Afghanistan, which ranks at the bottom with access to just 28 countries without a visa,» he said. South Korea takes the second spot alongside Finland and Sweden, enjoying visa-free access to 193 destinations. In the third spot, four EU nations—Austria, Denmark, Ireland, and the Netherlands—share access to 192 destinations.

BabyBus, US Federal Communications Commission (FCC) commissioner Brendan Carr told ET. The chief of FCC – an independent agency of the US government that regulates communications by radio, television, wire, satellite, and cable across the nation – also said he found the work India is doing to provide access to the internet and telecommunication services to every citizen “very admirable”.

₹58.6 trillion. This increased to ₹157.4 trillion by 2022-23. That’s an addition of ₹98.9 trillion to the debt stock.

Viksit Bharat' conjures up discussions on economic definitions and terminologies, with focus on GDP. Using the current World Bank per capita nominal gross national income threshold of $13,845, a $22-trillion Indian economy will deliver a 'Viksit Bharat' for the projected 1.6-billion peak population. Much of the discourse today is on whether attaining the $22-trillion mark is an evidence-led projection or not. Sometimes, an optimistic view of this economic trajectory is brushed away as a leap of faith.

Recently, I watched a chat with Lieutenant General Kanwal Jeet Singh Dhillon in which he described an unusual situation. His wife had heard of his death, mistakenly, not once but twice in his career. When it happened the second time, he was a commanding officer in Kashmir and his family lived in a military station near Ranikhet in Uttarakhand.

Bajaj Markets, a subsidiary of Bajaj Finserv, has collaborated with Ujjivan Small Finance Bank to provide the bank’s fixed deposits (FDs). This opportunity allows individuals to earn interest of up to 8.25%, with an additional 0.50% interest specifically for senior citizens.

Modern Monetary Theory (MMT) was the panacea for all economic ills. Now there's hardly a murmur.

SCSS vs senior citizen FDs of SBI, HDFC Bank, ICICI Bank, Axis Bank, PNB: Which offers highest interest rate?

Public Provident Fund (PPF) stands out as a highly favoured choice for individuals in India looking to make tax-saving investments. Its enduring popularity can be attributed to various compelling reasons: Triple tax exemption: PPF enjoys the exempt-exempt-exempt (EEE) status, ensuring that investments, earnings, and maturity proceeds remain entirely exempt from taxes. This feature sets it apart as notably appealing compared to other tax-saving schemes.

AP. Donald Trump'sattorneys presented arguments that presidents have immunity from prosecution for official business. To a panel of three federal judges, Trump's lawyers said, “It’s the opening of a Pandora’s box and it’s a very, very sad thing that’s happened with this whole situation." Trump pointed out that during Obama administration drone strikes in the Middle East, a US citizen was killed who was identified as a leader of the terrorist group al-Qaida and that man's 16-year-old son is also a US citizen.

Fixed deposits (FDs) continue to be popular, not just among senior citizens looking for guaranteed income but also among investors who can’t stomach risk.