Shaghil Bilali is a Deputy News Editor at The Economic Times. He specializes in finance, personal finance, and investment, with a focus on topics such as credit health, debt management, retirement planning, and employee benefits. Shaghil's insights and expertise have been featured in ZEE Business, The Economic Times, Share Market Updates, Metals Daily, and MSN.
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India (National)
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Shaghil Bilali's coverage primarily revolves around personal finance, investments, and the stock market in India. He frequently cites data and provides investment analysis. Pitches for Shaghil should focus on offering expert insights into personal finance strategies, stock market trends, or investment opportunities specifically within the Indian context.
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By: Shaghil Bilali
8th pay commission calculator: The 8th Pay Commission has concluded its Kolkata meetings and extended the employee data submission deadline. Central government employees anticipate salary and allowance increments as the commission prepares its recommendations. House Rent Allowance is a key component which is expected to be revised significantly. Senior government officials at Level 14-18 may see substantial HRA increases based on fitment factors.
By: Shaghil Bilali
Andhra Pradesh offers a one-time option to switch to the Old Pension Scheme. This applies to employees recruited before September 1, 2004, who joined later. They must meet specific conditions to avail this benefit. This decision aligns with a similar move by the central government in March 2023. Employees not opting will continue under the Contributory Pension Scheme.
By: Shaghil Bilali
Rising inflation has crossed the Reserve Bank of India's target, signaling potential repo rate hikes. Higher inflation and increased credit demand suggest banks might raise fixed deposit interest rates soon. Banks monitor deposit growth and credit demand before adjusting their fixed deposit rates. High yields on government securities and small savings schemes also pressure banks to increase FD rates.
By: Shaghil Bilali
Government departments must remit employee NPS contributions promptly to PFRDA. Delays in crediting NPS contributions will incur interest charges for employees. This interest will match the Public Provident Fund rate applicable at that time. Officials causing administrative delays face liability for pecuniary losses to the government. Departments must report actions taken regarding these NPS contribution remittance rules.
By: Shaghil Bilali
Financial planning for retirement: Early retirement necessitates careful financial planning for extended periods. A Rs 1 crore corpus may prove insufficient for early retirees in India. Experts suggest a diversified investment strategy for long-term financial security. This approach balances regular income with growth to combat inflation. Strategic asset allocation and disciplined withdrawals are crucial for sustainable retirement.
By: Shaghil Bilali
Financial planning for retirement: Early retirement necessitates careful financial planning for extended periods. A Rs 1 crore corpus may prove insufficient for early retirees in India. Experts suggest a diversified investment strategy for long-term financial security. This approach balances regular income with growth to combat inflation. Strategic asset allocation and disciplined withdrawals are crucial for sustainable retirement.
By: Shaghil Bilali
Central government employees anticipate significant salary raises from pay commissions. However, gross salary increases may lag behind basic pay hikes. This difference arises from various allowances that do not always scale proportionally. Historical data shows gross salary hikes have been lower than basic pay increases. The 8th Pay Commission's projections suggest similar trends for future salary revisions.
By: Shaghil Bilali
HSBC Bank's IFSC unit offers Non-Resident Indians significant leverage on FCNR(B) deposits. This strategy allows investors to borrow up to nineteen times their initial deposit amount. The potential for amplified returns arises from the spread between deposit earnings and borrowing costs. However, this leverage strategy carries risks if borrowing costs exceed deposit interest rates. FCNR(B) deposits also offer protection against Indian Rupee depreciation for investors.
By: Shaghil Bilali
8th Pay Commission salary: Central government employees anticipate the 8th Pay Commission's fitment factor recommendations. A higher fitment factor could significantly increase employee payouts and basic salaries. Past pay commissions show varied gross salary hikes despite differing fitment factors. The prevailing Dearness Allowance rate influences the actual gross salary increase. Projections suggest potential gross salary increases ranging from 31% to 68%.
By: Shaghil Bilali
Central government employees retiring soon will find CGHS pensioner card applications simpler. Pension details from the Bhavishya portal will now pre-fill CGHS applications automatically. This integration reduces paperwork and manual data entry for all retiring employees. PAN card will serve as the unique identifier for data exchange between systems. Approved CGHS pensioner cards can be downloaded from both the CGHS and Bhavishya portals.
