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Anagh Pal
15 Mar 2024, 17:35

Uniform KYC on the horizon! Here’s how the proposed process can ease the burden on customers and institutions

Uniform KYC on the horizon! Here’s how the proposed process can ease the burden on customers and institutions

Uniform KYC on the horizon! Here’s how the proposed process can ease the burden on customers and institutions

In a recent meeting led by Finance Minister Nirmala Sitharaman, a proposal was submitted for uniform know your customer (KYC). The new system could ensure a more efficient customer verification process and easier sharing of data between financial institutions.But, what is uniform KYC and how does it work? To understand this, we must decipher the challenges with the current system.

Loans against mutual funds may come at a lower interest rate, but experts urge caution
Anagh Pal
15 Mar 2024, 10:25

Loans against mutual funds may come at a lower interest rate, but experts urge caution

When in need of money, especially at short notice, a personal finance loan is one option. However, being an unsecured loan, personal loans come with high rates of interest. But if you own mutual funds, you can get a loan against mutual funds at a lower rate of interest. However, there are a few things one should consider.The concept of loan against mutual funds operates by leveraging your mutual fund portfolio. For instance, if you hold a portfolio valued at approximately ₹1 crore, you have the option to obtain a short or long-term loan of around ₹50-80 lakhs against it. These loans typically have a duration of one year but can be renewed annually.

I was placed in foster care as a teen and lacked close relationships. I wanted to give my daughter a different childhood.
Tammy Rabideau
14 Mar 2024, 21:08

I was placed in foster care as a teen and lacked close relationships. I wanted to give my daughter a different childhood.

I was placed in foster care due to a violent home environment. It gave me safety, but I lacked closeness. Foster care influenced how I parented.