The Reserve Bank of India (RBI), on December 24, introduced a new option to daily payments at local shops and retail outlets for the purchase of daily household goods and services. This semi-closed prepaid payment instrument (PPI) will come with a monthly rechargeble limit of Rs 10,000. However, unlike the PPIs that are available now, the new instrument can only be used for making retail payments. You cannot use it to transfer funds to other PPIs, make credit card payments and so on. For instance, at the moment you transfer funds from one Paytm account to another. With the new PPI, you cannot do this. Further, you can only add funds into the PPI using your bank account; you cannot use your credit card or another PPIs. Here is a look at the features of the new PPI. What is a PPI? A PPI can be used to buy goods and services as well as transferring/sending money to a friend, family, etc. Some of the commonly used PPIs include Paytm, Mobikwik (semi-closed system PPIs), Gift card … [Read more...] about You can make digital transactions but cannot transfer money using RBI’s newly launched PPI
Unique ways to give money as a gift
Apple AirPods are bud-style in-ear headphones that connect with your phone via Bluetooth. They offer up to five hours of listening time and are convenient, easy to use, lightweight, comfortable and - most importantly - the sound quality is good. The popular headphones are stored inside a small white chase that acts as a charger. … [Read more...] about There’s still time to shop! From Apple Airpods to an Xbox One S bundle, six last-minute Christmas gift ideas that are all eligible for Amazon Prime
Parenting may be one of the most rewarding exercises, but it is also one of the most difficult. As children grow up to become more assertive and wilful, getting them to complete household chores and school work turns into a daily combat for parents. To motivate disinterested kids, parents try to offer them financial rewards, with the amount varying according to the child’s age and type of task. However, not everyone considers such financial incentives as effective, ethical or rewarding in the long term. So should you pay your child to perform his tasks? Consider these points before adopting the strategy: 1. Should you pay the child for all household chores? It is important that the child be asked to carry out basic chores around the house from a young age, increasing the complexity of work with age. He can begin at 6-7 years, when he can pick his toys or clothes, and as he grows older he could clean up his room or cupboard and clear up the table after meals. As a teen, he … [Read more...] about Money & Relationships: Should you pay your child for chores or school work?
“My vote is not for sale. I will hand over the persons who try to give money to cast vote in the elections to the police”, a poster warning politicians was seen at a small-time laundry shop in Vavilalapalli locality of Karimnagar town on Sunday. … [Read more...] about Poster campaign against money power in civic polls
By Shifali Satsangee For decades now, ‘Waste Management’ has been confined to the precincts of reducing/reusing/recycling physical waste. With the advent of innovative financial and accounting practices like environment management accounting and activity-based cost management techniques, it is only fair that one questions themselves while wasting a precious and finite resource – Money. The convergence of finance with waste management may seem preposterous and improbable, but lately the concept of ‘Prudent Money Management’ is generating palpable interest among industry savants- conventional and modern alike. Prudent money management leads to ‘Smart Consumption’ which is one of the ways to manage waste and leads to ‘Sustainable Living’. Therefore, there is a positive and direct correlation between managing money well and sustainability of our resources. Fiscal prudence is a concentrated step towards tapering the quantum of money … [Read more...] about Can waste management principles help you to manage money better?