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How Labours & Workers can Get Loan with Minimum Documents

When is Labour Day & Why Do We Celebrate It? 1st May is celebrated as World Labour Day or International Workers’ Day. It is a day to commemorate the contributions of workers to society and to raise awareness of the issues and challenges faced by the labour community. Today, World Labour Day is celebrated in many countries around the world, and it serves as an opportunity to highlight the importance of workers’ rights and to raise awareness of the challenges faced by the labour community. Many labour unions and organizations hold rallies, marches, and other events to commemorate the day and to bring attention to issues such as fair wages, safe working conditions, and workers’ rights. What are The Challenges Faced by Unorganised Sector Workers? One of the most common challenge for labours and unorganised sector workers is to acquire Loans such as Personal Loan, Home Loan, Business Loan from the banks. Workers like small vendors, gardeners, drivers, carpenters earn most of their income in cash and hence often find it hard to get loan due to lack of financial documentation. Benefits of Loan to Workers Piramal Finance has launched a new initiative to provide loans to labourers. This move comes as a welcome relief for millions of blue-collar workers in the country who often find it challenging to secure financial assistance from traditional banks. The initiative is aimed at meeting the immediate financial needs of the labour community, such as medical expenses, education fees, and other emergencies. The contribution made by the labour community in building the country’s economy is vital and it is important to support them in times of need. Process: To Get a Loan The application process has been streamlined to ensure that it is easy and accessible for labours with minimum documentation requirements Check the Eligibility Criteria (Age, Nationality, etc.) Check the Interest Rates and Other Charges Calculate Your EMI Get Mandatory Documents (Aadhar Card, Pan Card, etc.) Apply for loan by visiting one of our branches or even online Getting online personal loan is easy and fast, workers can get instant personal loan in just few clicks Conclusion The “Hum Kagaz se Zyada Neeyat Dekhte Hain” initiative has received a positive response from the labour community, who have welcomed this initiative with open arms. It is expected that this initiative will help to improve the economic conditions of the labour community in the country and provide them with access to much-needed financial support. This move is expected to have a significant impact on the lives of millions of blue-collar workers in the country, providing them with access to financial support and improving their economic conditions. The streamlined application process and minimal documentation requirements will make it easier for laborers to apply for loans, making this initiative a step in the right direction towards financial inclusivity.
08-11-2023
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A Complete Guide To Link PAN Card With Aadhaar

According to a notification from the Income Tax Department, linking a PAN card with an Aadhaar card is a requirement for filing income tax reports. However, the tax department will not process income tax returns unless PAN and Aadhar are linked, even though income tax returns can be filed without linking. If you are conducting banking transactions of ₹50,000 or more, linking your PAN with Aadhar is also necessary. To file income tax returns and receive other advantages as a responsible citizen, linking the PAN card with Aadhaaris a crucial step. [B-01] Deadline for linking PAN with Aadhar The government has extended the deadline for linking Aadhar and Permanent Account Numbers (PAN) till March 31, 2023. The previous expiration date was March 31, 2022. However, if people fail to link their PAN and Aadhar by March 31, 2022, fines will be imposed. The penalties will be ₹500 if the PAN and Aadhaar are linked between 1 April 2022 and 30 June 2022. If the Aadhar and PAN are linked as of July 1, 2022, the penalty is ₹1,000. The Income Tax Department has provided taxpayers with two options to link their PAN card with their Aadhaar card, which are as follows: Through the Income Tax Returns E-filing website By sending an SMS to 56161 or 567678 How to link the PAN card with Aadhaar through the Income Tax e-filing website? If you wish to link the PAN card with your Aadhaar online through the IT website, then you must follow a few simple steps. The online process is hassle-free and saves a lot of time, so you must follow the linking process as mentioned below: Step 1: Visit the official Income Tax Site to link the PAN card with the Aadhaar card. Step 2: Go to “Quick Links” and choose “Link Aadhaar.” Step 3: Enter information such as your PAN number, Aadhaar number, name as it appears on Aadhaar, and mobile number. Mark the box if the Aadhaar card only contains the birth year, and mark the square if you consent to having your Aadhaar information verified. Then select “Link Aadhar.” Step 4: Type the captcha code to complete the form. (Users who have visual problems can request an OTP in place of the captcha code.) How to link the PAN card with Aadhaar using the SMS feature You can use the SMS feature to link PAN with Aadhar. The steps listed below must be followed: Step 1: On your mobile device, enter your UIDPAN (12-digit Aadhar, 10-digit PAN). Step 2: Send it to 567678 or 56161 to successfully link the PAN card with the Aadhaar card. Procedure to make corrections in the PAN and Aadhaar card to successfully link both the documents When attempting to link their PAN and Aadhaar, the majority of people frequently run into issues related to the mismatch of information between the two papers. If crucial information, such as names, dates of birth, and years of birth, does not match between the two documents, linking could become problematic. Making the corrections to the Aadhaar is the simplest way to update the information in this regard so that it matches. Name, date of birth, address, gender, mobile phone number, and language can all be changed on your Aadhar card. You must go to the closest Aadhaar enrolment or update centre to make any other corrections. The following are the various steps to make corrections to the Aadhaar card using the website: Visit the official UIDAI website. To access your account, enter your 12-digit Aadhaar number and the captcha code. The “OTP” option should be selected. The registered number is then provided with an OTP. After entering the OTP, press the submit button. Choose the Aadhaar Card fields that require updating. Keep a scan of the supporting documents on hand because they must be uploaded. A URN (Update Request Number) is generated after the previous phase is finished. This is necessary for the subsequent process. A hard copy can be obtained once the Aadhaar has been updated with the new information. The following are the steps to make corrections using the offline method: Visit the UIDAI website, click on Resources, then select Enrollment Docs, and then download the Aadhaar Correction Form. Complete the necessary information that needs to be changed. Any appropriate supporting documentation must be included in any changes that must be made. The amended form must be forwarded to the following address: UIDAI, Post Box No. 99, Banjara Hills, Hyderabad, India, 500034. If the PAN card needs to be corrected, you must follow the steps listed below: Visit the Protean eGov Technologies Limited website to make corrections to the PAN card. Select “Change or Correction in PAN Card” from the drop-down menu. Click “Apply for Change or Correction in PAN Card Details” on the new page that appears. Complete the necessary information. Make the payment for the application using any of the mentioned online modes. You must then print the acknowledgement before mailing it to the Protean eGov Technologies Limited office. Make sure to mail the application form along with the necessary documents, such as identification, address, and birth date proof. You must mail the acknowledgement to the following address: The Income Tax PAN Services Unit (managed by Protean eGov Technologies Limited), 5th Floor, Mantri Sterling, Plot No. 341, Survey No. 997/8, Model Colony, Near Deep Bungalow Chowk, Pune – 411 016 [B-02] Conclusion Linking the PAN card with Aadhaar is a crucial step to filing future income tax returns without any penalties. You must follow either the online or offline method to link the PAN card with the Aadhaar card, as it helps in providing you with summarised details of the tax filing and other significant information. It also makes filing your income tax comparatively easier, as the website automatically picks up the required details from the Aadhaar card. Piramal can also guide you with any other finance-related concerns that you may have. Read more related blogs on their website, or explore their financial products and services, such as personal loans, credit cards, and financial calculators.
08-11-2023
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Loans Available for Single Mothers – Home Loan, Personal Loan, Business Loan

Let’s Spread Financial Awareness This Mother’s Day Managing finances as a single mother at times can get difficult and hence, single mothers in India often face financial challenges when it comes to managing their households and providing for their children. Taking loans from trustworthy institutions can be a good solution to overcome the financial challenges. This Mother’s Day let’s assess all the Loan Options available for single mothers across India. Creating awareness about loan facilities among single mothers is vital & necessary. Let’s check all the possible options that Single Mothers can avail, in this article: [B-01] Home Loan for Single Mothers in India Many single women and moms believe that they won’t be able to buy a dream home, because of high prices, on the occasion of Mother’s Day 2023, we are providing some helpful solutions. Well home loan for single mothers is the best solution to solve this problem. Single mothers in India can apply for home loans from various banks and financial institutions. However, they must meet the eligibility criteria. Mandatory Conditions for Home Loan: Woman must be an Indian Citizen She must be at least 18 years old Basic Documents like – Aadhar Card, Pan Card, Passport-sized Photographs, Residential Proof Types of Home Loans for Single Mothers in India: Regular Home Loans: Single mothers can apply for a regular home loan, which is the most common type of home loan offered by banks and financial institutions. This loan is suitable for buying a new house or apartment, constructing a new house, or renovating an existing house. Pradhan Mantri Awas Yojana (PMAY): PMAY is a government scheme that provides financial assistance to eligible beneficiaries for buying or constructing a house. Single mothers who meet the eligibility criteria can apply for this scheme and avail themselves of the benefits. Joint Home Loans: Single mothers can also opt for a joint home loan with a family member or friend, which increases their chances of approval. A joint home loan combines the income of both the applicants, making it easier to meet the eligibility criteria. Personal Loan for Single Mothers in India Mothers may require financial assistance from time to time, and personal loans can be a viable option for them to meet their immediate financial needs. Personal loans are unsecured loans that can be availed for various personal needs such as home renovation, education, medical expenses, or any other unforeseen expenses. To be eligible for a personal loan, single mothers must meet the following criteria: Age: The minimum age requirement is 21 years, and the maximum age limit is 60 years. Credit Score: A good credit score is essential for loan approval. A better Credit Score will help you to avail a bigger amount of loans. Employment Stability: Single mothers must have a stable job or business with a minimum work experience of two years. Small Business Loans for Single Mothers in India Single mothers often face various challenges when it comes to starting or expanding a small business due to a lack of financial support. Small business loans are financial instruments that can help single mothers start, expand, or improve their small businesses. These loans are available from various banks and financial institutions in India and can be availed of by single mothers to meet their financial needs related to their businesses. Options Available for Small Business Loans for Single Mothers in India: Mudra Loan Scheme: The Mudra Loan Scheme is a government-backed scheme that provides loans up to Rs. 10 lakhs to micro-enterprises in the non-farm sector. Single mothers can avail of this loan to start or expand their small businesses. Stand-Up India Scheme: The Stand-Up India Scheme is a government scheme that provides loans up to Rs. 1 crore to women entrepreneurs, including single mothers. The loan can be used for setting up a new enterprise or expanding an existing one. Business Loans from Banks & Financial Institutes: Various financial institutes and banks in India offer business loans to women entrepreneurs, including single mothers. These loans are available at competitive interest rates and can be used to meet various financial needs related to their businesses. [B-02] Other Loans Available to Single Mothers Gold Loans: Gold loans are secured loans that are offered against gold jewelry. Single mothers can avail of gold loans to meet their financial needs, as these loans have a lower interest rate compared to personal loans. Education Loans: Education loans are loans provided to students to finance their education. Single mothers can avail of education loans to fund their children’s education and ensure a better future for them. Single mothers in India have various loan options available to meet their financial needs. However, before applying for any loan, it is important to compare the interest rates, processing fees, and repayment options of different banks and financial institutions.
08-11-2023
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National Technology Day 2023 – Evolution of Online Finance in India

When is National Technology Day Celebrated? National Technology Day is celebrated in India on 11th May every year. The day is significant because it marks India’s successful nuclear tests in Pokhran in 1998, which showcased the country’s technological advancements and capabilities in the field of science and technology. National Technology Day 2023 in India On this day, the Indian government also releases its annual report on the progress of science and technology in the country, which provides an overview of the achievements, challenges, and future plans in the field. The report helps to assess the current state of technology in India and identifies areas that require further attention and investment. [B-01] Evolution of Online Finance in India In this century, India has progressed a lot in terms of technology & digitalization. From booking tickets to transferring money everything is just a click away. Now, you can also avail an Online Personal Loan within a few minutes. In this article, we’ll cover how to get a hassle-free instant personal loan. What is Instant Personal Loan? An online instant personal loan is a type of loan that is processed and disbursed quickly through online platforms. The loan is unsecured, which means it does not require any collateral. This type of loan has gained immense popularity in recent times, mainly because of its quick and hassle-free application process.The online instant personal loan application process is straightforward and can be completed in just a few minutes. The process involves filling out an online application form, submitting the necessary documents, and completing the verification process. Once the application is approved, the loan amount is disbursed to the borrower’s bank account. Benefits of an online instant personal loan: Quick Disbursement: An online instant personal loan is processed and disbursed quickly. The loan amount is usually disbursed to the borrower’s bank account within a few hours of loan approval. No Collateral Required: Unlike secured loans, an online instant personal loan is unsecured, which means it does not require any collateral. This makes it a good option for hose who do not have any assets to pledge. Flexible Tenure: The tenure of an online instant personal loan is usually flexible, ranging from a few months to a few years. This gives the borrower the flexibility to choose a epayment tenure that suits their financial situation. Minimal Documentation: The documentation required for an online instant personal loan is minimal. The borrower needs to submit a few basic documents such as identity proof, address proof, and income proof. Competitive Interest Rates: The interest rates on online instant personal loans are competitive and are often lower than those on credit cards and other types of loans. Convenient Repayment Options: The repayment of an online instant personal loan is also convenient. The borrower can repay the loan amount through EMIs (Equated Monthly Instalments) or as a lump sum payment. [B-02] Conclusion: India has come a long way in terms of evolution of online finance, hence we can avail different facilities like Personal loan within few minutes by a single click. An online instant personal loan is a convenient and hassle-free way to get a quick loan without any collateral. The loan is processed and disbursed quickly, and the documentation required is minimal. The borrower can choose a flexible repayment tenure and enjoy competitive interest rates. This National Technology Day let’s spread this awareness to the masses. This will help us in going one step further in digitalization.
08-11-2023
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How to Fight Terrorism & Financial Fraud? National Anti-Terrorism Day 2023

When is National Anti-Terrorism Day is Observed? National Anti-Terrorism Day is observed on May 21st each year in India. It is celebrated to commemorate the death anniversary of former Prime Minister Rajiv Gandhi, who was assassinated in 1991 by a terrorist. The day aims to promote awareness about the destructive effects of terrorism and emphasize the importance of peace, harmony, and unity in the country. It also serves as a reminder to remain vigilant against terrorism and work towards its eradication. This National Anti-Terrorism Day 2023, it is vital to learn how Financial Fraud and Terrorism are interconnected with each other. In this article, we’ll understand the nexus and will explore various possible ways to fight against finance Fraud and terrorism. [B-01] How Financial Fraud and Terrorism are Connected? Finance Fraud and terrorism represent two distinct yet interconnected global challenges. While finance Fraud encompass various illicit activities aimed at obtaining financial gain through deception, terrorism seeks to instil fear and advance political or ideological agendas through violent means. In recent years, a growing body of evidence has highlighted the convergence of these two phenomena, revealing the alarming nexus between finance Fraud and terrorism. This article aims to shed light on this complex relationship, exploring the ways in which finance Fraud facilitate and sustain acts of terrorism. Understanding the Financial Fraud’s Nexus: Financing Terrorism: Terrorist organizations require substantial financial resources to carry out their activities, including recruitment, training, procurement of weapons, and logistics. Finance Fraud offer an attractive avenue for terrorists to raise funds covertly and launder money, as these illicit practices provide anonymity and make it difficult for law enforcement agencies to trace the origin of the funds. Money Laundering: Finance Fraud often involve sophisticated money laundering techniques that help criminals legitimize their ill-gotten gains. Terrorist networks exploit these mechanisms to obscure the source of their funding, blending it with legitimate transactions and making it harder for authorities to identify and disrupt their financial networks. Hawala and Informal Money Transfer Systems: Hawala, an informal money transfer system prevalent in many regions, enables the movement of funds across borders with minimal regulatory oversight. This system, often exploited by Fraudters, also serves as a conduit for financing terrorist activities, allowing funds to flow undetected and untraceable. Cybercrime and Terrorism: The rise of digital technologies has given rise to an increased prevalence of cybercrime, including identity theft, phishing scams, and cryptocurrency Fraud. Terrorist organizations harness these techniques to conduct financial crimes, acquire funds, and facilitate their operations while remaining concealed in the digital realm. Implications and Challenges: Global Security Threat: The convergence of finance Fraud and terrorism poses a severe threat to global security. The substantial financial resources obtained through illicit means empower terrorist organizations, enabling them to carry out attacks, recruit members, and sustain their operations. Weakening of Financial Systems: Finance Fraud undermine the integrity and stability of financial systems, eroding public trust in institutions. When terrorist groups exploit these vulnerabilities, they further weaken the global financial architecture, making it susceptible to illicit activities and exacerbating the risks faced by legitimate businesses and individuals. Regulatory and Enforcement Challenges: Combating finance Fraud and terrorism requires strong international cooperation, as criminal networks operate across borders. Coordination between law enforcement agencies, intelligence sharing, and harmonized regulatory frameworks are crucial to disrupt the flow of funds and dismantle these illicit networks effectively. Enhanced Financial Intelligence: The need for robust financial intelligence and advanced analytical tools becomes imperative to identify patterns, track suspicious transactions, and detect potential links between finance Fraud and terrorist activities. Strengthening anti-money laundering (AML) and counter-terrorism financing (CTF) measures is essential for early detection and prevention. How to Fight Terrorism & Financial Fraud? Strengthen Financial Regulations: Governments should establish and enforce robust anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. These regulations should include strict due diligence procedures, customer identification requirements, and transaction monitoring mechanisms to detect and report suspicious activities effectively. International Cooperation: Enhance international collaboration and information sharing among governments, intelligence agencies, and financial institutions. Establish platforms for sharing intelligence, best practices, and expertise to detect and disrupt the financial networks that support terrorism. Financial Intelligence Units (FIUs): Establish and empower specialized units, such as FIUs, to collect, analyse, and disseminate financial intelligence. These units play a vital role in identifying suspicious transactions, uncovering illicit financial networks, and coordinating with law enforcement agencies to take appropriate action. Public-Private Partnerships: Foster collaboration between governments, financial institutions, and technology companies to develop innovative tools and technologies to detect and prevent finance Fraud and terrorist financing. Encourage financial institutions to implement robust fraud prevention measures and educate their customers about the risks of fraudulent activities. Enhanced Technology and Analytics: Leverage advanced technologies, such as artificial intelligence and machine learning, to identify patterns, detect anomalies, and predict potential finance Fraud and terrorism financing activities. Develop sophisticated analytics tools that can effectively analyze large volumes of financial data to identify suspicious transactions and networks. [B-02] Conclusion: The intricate relationship between finance Fraud and terrorism demands a comprehensive and multi-faceted approach to address the challenges they pose. By strengthening financial regulations, promoting international cooperation, and enhancing intelligence capabilities, governments and institutions can work towards disrupting the illicit financial networks that sustain terrorism. Moreover, raising public awareness about the dangers of finance Fraud and their potential ties to terrorism is crucial in fostering a collective effort to safeguard global security and financial stability.
08-11-2023
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