Important Questions Based On Budget 2019 for Bank Exams

Important Questions Based On Budget 2019 for Bank Exams

We have prepared some Important questions based on budget 2019 for bank exams, SSC exams and other upcoming various examinations. These multiple choice questions based on budget 2019 are going to be useful for candidates appearing in upcoming competitive examination.

let's start Important Questions based on budget 2019 for bank Exams

Question-1 A scheme launched in budget 2019 for benefit of farmers called “Pradhan Mantri Kisan Sanman Nidhi”. Minimum land holding required for getting benefit of the scheme is:

A.      1 hectares

B.      2 hectares

C.      3 hectares

D.      No minimum

Question-2 Under newly launched “ Pradhan Mantri Kisan Sanman Nidhi Yojna”, how much amount will be paid by government to farmer annually :

        A.      Rs 3000.00

        B.      Rs 4000.00

C.      Rs 5000.00

D.      Rs 6000.00

Question-3  Government has decided to set up “ Rashtriya KAMDHENU AYOG” for welfare of this animal:

A.      Cow

B.      Got

C.      Lion

D.      Tiger

Question-4  Government is planning to start container cargo movement to North East Region through this river:

A.      Yomuna

B.      Ganga

C.      Godavari

D.      Brahamputra

Question-5 Amount allocated for MNREGA in budget 2019 is:

A.      Rs 15000.00 Crores

B.      Rs 30000.00 Crores

C.      Rs 60000.00 Crores

D.      Rs 75000.00 Crores

Question-6 Under Newly launched Pradhan Mantri Shram Yogi Mandhan, how much amount will a worker get after attaining age of 60 years as pension:

A.      Rs 1000.00

B.      Rs. 2000.00

C.      Rs 3000.00

D.      Rs 6000.00

Question-7 Individual tax payers up to income, will not  have to pay tax after implementation of Budget 2019

A.      Rs 3.00 lacs

B.      Rs 5.00 lacs

C.      Rs 6.00 lacs

D.      Rs 8.00 lacs

Question-8  How much amount of rent will be now exempted from tax now after budget 2019

A.      1.00 lacs

B.      2.00 Lacs

C.      2.4 lacs

D.      3.00 lacs

Question-9 New AIIMS will be set up in this state of india:

A.      Rajasthan

B.      Haryana

C.      Punjab

D.      Kerala

Question-10 Who among the following presented union budget 2019 :

A.      Arun Jately

B.      Piyush Goyal

C.      Suresh Prabhu

D.      Narendra Modi

Answers have been marked as Italic. More questions on budget 2019 will be added soon.

Difference between Fixed Deposit and Mutual Funds in India

Difference between Fixed Deposit and Mutual Funds in India

After demonetization there is two major way of investment available in India i.e. fixed deposit and mutual funds. Major question that keep on popping up in our mind is what difference between fixed deposit and mutual funds is. Primarily fixed deposits are opened with banks where as mutual funds are managed by mutual funds companies. Difference between fixed deposit and mutual funds in India is mainly risk appetite of investor. When it comes to returns and taxation points, we need to be more elaborative to learn everything about it. Considerably mutual funds are considered more risky than fixed deposit. But perception has witnessed a wider shift after demonetization. People are more inclined towards mutual funds. We will compare both of these on various parameters like risk, return, duration, taxation, tax savings, does and don’ts and much more.

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Risk factor in mutual funds and fixed deposits: fixed deposits are considered safer in terms of risk associated with it. There are various three type of mutual funds in terms of risk associated with it i.e. equity mutual funds, hybrid mutual funds and debt mutual funds. Equity mutual funds considered higher risky and high return where as hybrid is moderately risky and debt funds are considered low risky. Debt funds in mutual funds are relatively compared with bank fix deposits.

Also Read: Difference Between Recurring Deposit And Systematic Investment Plan

Home Top Up Loan Vs. Personal Loan Vs. Gold Loan: Which One To Choose

Taxation in Mutual funds and fixed deposit: equity funds and hybrid funds are concerned, they will be regarded as short-term if the holding period is under 12 months and long-term if the holding period is over 12 months. In case of debt funds, a holding period of less than 36 months will mean that they are short-term while a holding period of 36 months or more will mean that they are long-term. Long-term capital gains on equity mutual funds and hybrid mutual funds over Rs.1 lakh will be subject to tax at 10%, while short-term capital gains will attract 15%. In case of debt funds, the long-term capital gains will be 20% after indexation, while the short-term capital gains will be as per the tax slab. In the case of fixed deposits, any interest an individual earns on his or her investment is taxable depending on which tax slab the individual comes under.

Advantages of investing in Mutual funds:

Low limit of investment

 Diversification of fund

Management of funds by professionals

Benefits of equity without directly exposing to market

Short term tax benefits

Also Read: Difference Between Home Loan And Land Loan: Which One To Choose

Pradhan Mantri Awas Yojna (PMAY) Complete Details, Apply Online, Subsidy, Eligibility, Criteria, Income, Carpet Area And Latest Modification In PMAY

Fix your goals and assess your risk appetite, you are defiantly going to be benefited of magic of equity and debt.

Disclaimer: Mutual Fund investments will be subject to market risks. Any mutual fund listed in the document does not guarantee fund performance or its underlying creditworthiness. Do read the mutual fund document thoroughly before investing. Specific investment needs and other factors have to be taken into account while designing a mutual fund portfolio.

GST rates of 18% applicable for all financial services effective July 1, 2017.

Difference between Recurring Deposit and Systematic Investment Plan

Difference between Recurring Deposit and Systematic Investment Plan

Keeping fix amount every month for the purpose of investment or saving for creating wealth in the form of SIP or RD is a trending option in India. Major difference between recurring deposit and systematic investment plan (SIP) is RD is opened with bank where as SIP is managed by Mutual funds companies.  In SIP, a person has to set aside fix amount for every month or quarter for creating wealth where as in case of RD, we have to set aside a fix amount every month for predefined period and at the end of that period we get interest and amount invested.

Recurring Deposit Product Details: If you are planning a foreign trip, you may start an RD to create a handsome amount over the period of time. Recurring deposit is opened with bank or post office for predefined period for fix amount every month. In case of RD, interest rates are associated with tenor of RD. Tenor of RD varies from 06 months to 10 years. Senior citizens are offered bit higher rate of interest compared to others. Minimum amount that can be fixed monthly depends on financial institutes. Proceeds of RD are taxable. Interest earned on recurring deposit is subject to TDS (Tax deducted at source) if it exceeds Rs. 10000.00 per financial year.

Also Read: Difference Between Home Loan And Land Loan: Which One To Choose

Home Top Up Loan Vs. Personal Loan Vs. Gold Loan: Which One To Choose

Systematic Investment Plan Details: An SIP can be started by investing in mutual fund. Investor has to invest a fix amount every month or quarter. Minimum investment amount is Rs 500.00 Amount can be invested in debt or equity as per your choice. Recently equity mutual funds have generated good returns. It is always advised to be invested minimum up to 3 years for better return. Major disadvantage of SIP is that return on SIP cannot be predicted as it is linked with stock market. Return on SIP is linked to NAV (Net asset value).

Difference between Recurring Deposit and Systematic Investment Plan

	Sytematic Investment Plan	Recurring Deposit
Investment	Investment in Mutual funds	Investment in Bank, FI and Post Office
Scheme	Equity or Debt or Hybrid	Fix Deposit Scheme
Returns	Subject to NAV of funds chosen	Fixed return
Risk	High in case of Equity Investment	Low Risk, almost No risk
Liquidity	SIPs are fully liquid, Subject to exist load if withdraw before 1 years	Liquid, if withdraw prematurally penal rate is applied
Tax	Short term capital gain tax if withdraw before 1 year	TDS is applicable if interest exceeds Rs 10000.00, Interest earned is added to your income which in turns attract taxes

Benefits of SIP are listed below:

Diversification of funds by funds manager

Management of funds by professional fund manager

Lower amount for entry

Easy liquidity

Flexibility of investment

Set your goals and move ahead and take a SIP today which will defiantly in turns build a good corps.

Also Read: Pradhan Mantri Awas Yojna (PMAY) Complete Details, Apply Online, Subsidy, Eligibility, Criteria, Income, Carpet Area And Latest Modification In PMAY

Home Top up Loan vs. Personal Loan vs. Gold Loan: which one to choose

Home Top up Loan vs. Personal Loan vs. Gold Loan: which one to choose

Are you in need of money and confused to choose between Home Top up Loan vs. Personal Loan vs. Gold Loan. If you have recently completed your home construction or purchased a new home out of home loan and now you are out of fund and need urgent money. You have many options to choose like home top up loan or personal loan or gold loan or PF withdrawal or loan against your mutual fund or borrow from friends or relatives and you will end up with having major confusion in choosing Home Top up Loan vs. Personal Loan vs. Gold Loan. Home top up is better alternative of sudden need of money.

Generally home top up loan is given for extension of home, renovation of home, furnishing of home, marriage, education or something else.

Home Top up Loan vs. Personal Loan vs. Gold Loan: which one to choose

Home top up is available at lower rate of interest and higher tenor compare to personal loan and gold loan. Home top up is the cheapest solution for need of money. Tax benefit is also available under section 24B in home top up loan. Home top up loans are offered at par with home loan in terms of interest rates. Some financial institution offer higher amount if you agree for extension of mortgage.

Who is eligible for home top up loan?

Customers who have availed housing loan and completed construction of home, valid mortgage formality have been completed, possession of home has been taken, having good track record of existing home loan, having good CIBIL score are eligible for home top up loan.

LTV (Loan to value) ratio is important parameters for considering amount of eligibility for home top up loan. New home loan customers are also eligible for top up home loans. An interested borrower needs to have a good credit history and should submit his know your customer (KYC) and income documents in order to get their top-up loan processed by a financial institution.

Also Read: Difference Between Home Loan And Land Loan: Which One To Choose

Pradhan Mantri Awas Yojna (PMAY) Complete Details, Apply Online, Subsidy, Eligibility, Criteria, Income, Carpet Area And Latest Modification In PMAY

Tax benefit under section 24B for home top up loan

Tax benefits are available for interest portion paid on home top up loan if home top up is used for acquisition of property, repair, and renovation of property. Tax benefits are available for home top up to ceiling available for home loan. The maximum amount that can be claimed for tax deduction is Rs 2 lacs per annum for interest repayment. This is inclusive of the interest on both the original home loan and the top-up home loan.

Drawbacks of home top up

Major disadvantage of home top up is lower amount due to limitation of LTV which bound loan amount, Higher processing time due to extension of mortgage in some cases, obtaining fresh valuation of property, obtaining fresh TCR (Title clearance Report). Some financial institution has fixed cap on loan amount. People are unaware about tax benefit available under section 24B for home top up loan.

Also Read: 7 Reasons To Buy Life Insurance Policy In India

if you have time of 10-15 days to get a loan, home top up is no doubt better option for you. Personal loan and gold loan are no doubt quick but not beneficial in terms of tenor, interest rate and tax benefits.

7 Reasons to buy life Insurance policy In India

7 Reasons to buy life Insurance policy In India

There are many reasons to buy a life insurance policy in India, but question is “do we really buy an insurance policy or it is being sold to us?” Very first instance of insurance in Indian scenario come in light when someone become an IRDA (Insurance regulatory and development authority)LIC agent and he starts developing his selling skills from families and friends. Human life is vulnerable to risks, Risk of death, risk of disability, risk of accident, risk of financial stability and much more.To protect against these risk we used to have health insurance for health issues, Asset insurance to protect asset and life insurance to protect unpredictable event in life. Do we still thinking reasons to buy a life insurance policy in India? Now we will discuss in details the reasons to buy a life insurance policy in India.

7 Reasons to buy life Insurance policy In India

           1.Tax Benefits: the most luring thing in India is the idea of saving taxes and tax free returns out of life insurance plan. Yes it’s for you. Premium paid to buy an term insurance is exempted from tax under section 80C of income tax act 1961 and proceeds of insurance (Death benefits) are exempted from taxes under section 10D of income tax act 1961. Pay premiums of insurance and save your hard earned money.

       2.Looking after your family: Life Insurance cover should be considered as risk mitigating product rather than an investment product. It is important aspect or goal of your life to protect your family financially when you are no more. Let life insurance generate the income that you were doing earlier. Your family need not to switch life style due to lack of income.

3    3. Child’s education and payment of Debt: Buy insurance in way that takes care of your child’s education in future. Your family should not be on road after your death. Let insurance to take care of all your debt in future. It will not only provide peace of mind to you but your family when you are no more.

Also Read: Difference Between Home Loan And Land Loan: Which One To Choose

How To Check Linking Of Aadhaar With Bank Account Without Visiting Bank/Without Internet

4    4. Long term investment goals:  Since it keeps you invested for long term, it full fill your long terms financial goals like child’s marriage, child education, buying a home, buying a car, creating an additional asset. You need not be worried about future source of fund to create asset.

    
     5. To full fill your retirement goals: who would not like that he continues to get monthly income even after retirement. Some life insurance policies provide retirement plans to supplement your income even after retirement.

     6.Buy it when you are young: Insurance should be taken as early as possible because it is cheaper when you are younger. If you have dependent family members, if you have signed loans along with your parents or partners, it has become must for you to be insured.

    7.PEACE OF MIND: Death is unavoidable. In the face of tragedy, the least you can do for your family is to secure their financial future. Even if it is a small policy, you know that you've done all you can to help them tide over difficult times.

Also Read: Pradhan Mantri Awas Yojna (PMAY) Complete Details, Apply Online, Subsidy, Eligibility, Criteria, Income, Carpet Area And Latest Modification In PMAY

Final words: Since death is unavoidable and future is unpredictable hence insurance is only mitigating task that you can undertake. Consult your financial adviser, fix your future goals, assess your premium paying capacity, assess your long term debt and repayments and then undertake suitable product for you. Do not let insurance to be sold to you, go and buy it. Consider insurance as protection plan, not as investment plan and come out of typical Indian mentality “Badle me Kya Milega”

Difference between Home Loan and Land Loan: Which one to Choose

Difference between Home Loan and Land Loan: Which one to Choose

In India, as Indians are more inclined towards buying a piece of land for the purpose of investment or for building house of their own choice however  if we are thinking of getting it through loan from banks or NBFCs (Non Banking financial companies), there is some difference between home loan and land loan.  The major difference between home loan and land loan is tax benefits. There are some others similarities and differences between home loan and land loan which we will discuss in details.

Home loans are offered for buying house either ready made or under construction, for construction of house on piece of land, for reimbursement of payment already made to buy home, for repairing or renovation of an existing house where as land loan are offered for buying a piece of land for purpose of investment or for purpose of constructing house there on.

Location of property: Difference between home loan and land loan: - home loans are offered for purpose mentioned above on all type of properties irrespective of locations of property where as land loans are offered at some specific locations only for inside municipal area or non commercial purpose. You cannot opt for funding for buying an agriculture land, it’s should be non agriculture.

Amount of Loan: Amount of loan is major difference between home loan and land loan, the factor deciding amount of loan is LTV ratio (Loan to value Ratio). LTV is the amount which you are about to get sanctioned against the value of your property. It’s is higher in case of home loan and lower in case of land loan approx. 50% -60%.

Tax benefits in home loan against land loan: if you are thinking of getting tax benefit, home loan is the answer for you. you get tax benefit on interest paid as well as on principal in case of home loan where as there is no tax benefit in case of land loan. If you are start construction on piece of land then you may be eligible for tax benefit after completion of construction.

Also Read: 

How To Check Linking Of Aadhaar With Bank Account Without Visiting Bank/Without Internet

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Land loan and NRIs: NRIs are always keen to buy land for purpose of investment in India. They are potential buyer of properties. But banks are not comfortable in landing to them. Based on extensive search, some banks offer land loan to NRIs

Tenure of loan and Rate of interest: Tenure is comparatively lower in case of land loan where as home loan is offered for maximum period of 30 years. Interest rate is few basis points higher in case of land loan and varies from bank to bank.

Home loan for construction of house: Some bank like state Bank of India and ICICI bank offers land loan with a pre condition of construction there on within stipulated time frame. SBI offers in its product realty for purchase of land for construction of house there on, owner here promises to start construction within 2 years of availing loan.

Benefit of Pradhan Mantri Awas Yojna: you are more likely to listen about the scheme Pradhan Mantri Awas Yojna Housing for all, if you are a potential home buyer. You are at right place for that. You will get benefit of Pradhan Mantri Awas Yojna in case of home loan as per your eligibility and entitlements where as there in no consideration of the scheme in case of land loan.

Also Read:  

Pradhan Mantri Awas Yojna (PMAY) Complete Details, Apply Online, Subsidy, Eligibility, Criteria, Income, Carpet Area And Latest Modification In PMAY

A land loan is often treated as part of the home loan options provided by a bank and is treated in the same way as that of a home loan. The above-mentioned conditions are the only exceptions in the treatment of a land loan. The process and requirements such as the banks due diligence process, EMI options, documentation, need for co-applicants, rate of interest, etc are the same for both home loans as well as land loans. 

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How to check linking of Aadhaar with Bank account without visiting bank/without internet

How to check linking of Aadhaar with Bank account without visiting bank/without internet

 

Aadhaar has been made mandatory to be linked with bank accounts of all individuals by government. You might have submitted copies of Aadhaar to your bank for Aadhaar linking of the same. Supreme court has also frequently mandated dead line for the same.There are several things like Aadhaar with PAN Card, Aadhaar with mutual fund, Aadhaar with insurance policies, but most common is linking of Aadhaar with bank account. But question always keep on popping that “if my Aadhaar is linked with bank account or not.” Here we will find the way about how to check linking of Aadhaar with bank account.

#Traditional way of checking linkage of Aadhaar: Traditional of checking linkage of Aadhaar with bank account is just visit your bank branch and check whether it has been linked or not. Here you have to completely rely on bank about linkage.

#checking through Internet Banking: if you have availed internet banking facility then you may choose to check by visiting internet banking website of your bank. Some of bank has provided link on pre-log in page to link as well as check linkage of Aadhaar with bank account. For example, SBI has given link on pre log in page of its internet banking website www.onlinesbi.com

 

#Check if Aadhaar is linked to bank accounts or not – Using UIDAI Portal

You may also choose to check it through UIDAI portal.

# visit UIDAI home page by clicking here

#Click on “check Aadhaar and bank account linking status”

#New  page will open where you need to enter your Aadhaar number and OTP

#on submission of OTP, you will get confirmation message about linking

 

Also Read: 

Pradhan Mantri Awas Yojna (PMAY) Complete Details, Apply Online, Subsidy, Eligibility, Criteria, Income, Carpet Area And Latest Modification In PMAY

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#check if Aadhaar is linked to bank account or not without internet

You may check linking of Aadhaar number with bank account even without internet. This facility is provided by NPCI. For using this facility you must have registered mobile number with Aadhaar.

Dial *99*99# from your mobile

Enter your 12 digit Aadhaar number

Confirm your Aadhaar number by pressing 1

A confirmation message will appear on your mobile Screen about linking.

To avail all these facilities online or through USSD, you must have your mobile number registered with bank and Aadhaar authority.

Disclaimer: Do not share your personal details like OTP, password or secret information with anyone.