The 7th Pay Matrix presents a detailed yet straightforward table that shows all pay levels of government employees in a single table. The 7th Pay Matrix is a new way to organise salaries for central government employees in India, introduced by the 7th Pay Commission. It looks like a grid with 18 horizontal rows and 40 vertical columns. Each row represents different job ranks in government service, and each column shows yearly increments or advancements employees can achieve within their respective levels. The salary for each rank starts at a base amount, which was set following the recommendations of the 7th Pay Commission and an updated calculation method called the fitment factor.Latest Update on 7th Pay CommissionThe Union Cabinet has approved 50% Dearness Allowance (DA) Hiked in March 2024. It will benefit the Central Government employees and pensioners from January 1, 2024, the existing rate 46% of the basic pay/ pension will increase 4% by  this hike.7th Pay Commission Pay MatrixCentral government employees received a hike on their pay scale from 6th to 7th CPC.

With the advancement in time, technology has evolved rapidly giving pace to the introduction of new innovative products. This advancement has also been witnessed in the financial technology industry and hence the past several years have experienced a massive boom and emergence of thousands of new fintech businesses.Therefore, non-bank fintech firms have given rise to a new breed called the new banks which enable resolving online experiences by providing little or no fee services. Hence with the advent of neo-banks in India, the fintech industry has successfully filled the void in the neo-banking sector.So scroll down to learn more about what neo-banks are, how they are different from traditional banks, how they work, their benefits and many more details.What are Neo Banks?The key to defining a neo-bank is that it is one of the latest and most effective phenomena that represent digitalisation in the modern financial technological industry. These banks are also known as the "Challenger Banks" provide banking services without having any physical presence. They primarily focus on services that are in high demand by the tech-savvy generation, like online savings accounts,  digital money transfer, payment solutions, lending, and etc. What is Neo Banking?Neo banking refers to the digital-only banking services that can operate your account entirely online, requiring no physical presence.

The voting for the Lok Sabha election 2024 has started. Polling for the 18th General Election is being conducted in seven phases between April 19 and June 1. The state of Karnataka will also witness the polling for the general election in the second and third phases, which are scheduled for April 26 and May 7, respectively. Residents of Karnataka can check the Karnataka Voter List to verify their eligibility to vote in the general elections. This guide will provide detailed instructions on how to find names in the Karnataka voter list, how to access it, how to apply for a Voter ID, and how to download the Voter ID card, among other important details.How to check Name in Karnataka Voter ListThese steps will guide you through the process of finding your name in the voter list. Navigate to the ECI Website:Start by opening your web browser and visiting the home page of the Election Commission of India (ECI) website.Access the Elector Menu:On the home page, locate and click on the “Elector menu” tab.Search for Your Name:Within the Elector menu, select the option labeled “Search your name in the electoral roll”.Enter Search Details:To locate your name on the electoral roll, you can enter your EPIC number or Voter ID in the provided search fields.Alternative Search Options:If you do not have your EPIC number or Voter ID handy, you can still perform the search using alternative details:Your registered phone number.Personal information such as your date of birth, district, assembly area, and details about a relative.Procedure to View Name in PDF Electoral RollStep 1:  Visit the Chief Electoral Officer,Karnataka website.Step 2: Click on the ‘Search my name in the voter list”. Step 3: Use your EPIC number or Voter ID to search for your name in the list.Step 4: If you don't have your EPIC with you, you can still search for your name using other options like your phone number or personal details.Step 5: You can use other details such as your date of birth, the district you're in, your assembly area, and details about a relative to find your name on the voter list.How to Apply for Karnataka Voter ID Card Online?Step 1: Visit the National Voters' Services Portal (NVSP).Step 2: Click on the ‘Sign-Up’ option available on the top right corner of the homepage.Step 3: Enter your mobile number, email ID and captcha code and click ‘Continue’.Step 4: Enter your ‘First Name’, ‘Last Name’, ‘Password’, ‘Confirm Password’, and click the ‘Request OTP’ button.Step 5: Enter the OTP sent to your mobile number and email ID and click ‘Verify’.Step 6: Log in to the Voters' Services portal by clicking the ‘Login’ button, entering your mobile number, password, and captcha and clicking the ‘Request OTP’ button.Step 7:  Enter the OTP sent to your mobile number and click the ‘Verify & Login’ button.Step 8: Click the ‘Fill Form 6’ button under the ‘New registration for general electors’ tab.Step 9: Enter all the details on Form 6, which includes personal details, relatives details, contact details, Aadhaar details, date of birth, address, and declaration. Upload the required documents in the given sections and click the ‘Preview and Submit’ button.Step 10: Check if the entered details are correct and click ‘Submit’.How to Apply for Voter ID Card in Karnataka Offline? Step 1: Visit your nearest Electoral Office and request Form 6. Step 2: Enter all the details on Form 6. Step 3: Attach the required documents along with Form 6 and submit it to your nearest Electoral Office. Step 4: A Booth Level Officer may visit your house to verify the details entered in the application. Step 5: Once your details are verified, the office will issue the Voter ID card via post to your registered address. Documents required for Voter ID cardOne recent passport-size photograph.Aadhaar cardPhoto-copies of Proof of Date of Birth document.

NVSP Portal or National Voters Service Portal is an online platform introduced by the Election Commission of India. This single platform offers several voter related services to Indian citizens. From NVSP logins to checking NVSP status and applying for a Voter ID Card, users can conveniently access a multitude of services. Whether you're looking to register for a Voter ID, download it, check its status, search your name in the electoral list, or file complaints, the NVSP Portal has you covered. Explore the comprehensive features and services provided below, all designed to streamline your voting experience.What are the services provided on NVSP Portal?This portal has been designed to offer wide range of online services to Indian citizens and NRIs to participate in the country’s election process. Some of these services include:NSVP Services Voter ID RegistrationVoter ID Status CheckSearch Name in Electoral ListVoter ID DownloadCorrection/ Modification in Voter ID CardElectoral Services for Overseas VoterPoling Station LocaterFiling ComplaintKnow Details of Polling Officer,Assembly/ Parliamentary Constituency Print vote information slip How to Register on NVSP Portal?Follow these steps to register on the NVSP and get access to various online Voter related services:Step 1: Visit the National Voters' Services Portal (NVSP).Step 2: Click on the ‘Sign-Up’ option available on the top right corner of the homepage.Step 3: Enter your mobile number, email ID and captcha code and click ‘Continue’.Step 4: Enter your ‘First Name’, ‘Last Name’, ‘Password’, ‘Confirm Password’, and click the ‘Request OTP’ button.Step 5: Enter the OTP sent to your mobile number and email ID and click ‘Verify’.Once your OTP is verified, you will be registered on NVSP.

Gold, a bright yellow metal, holds immense importance in Indian culture. Whether you want to gift someone or invest in your future, this metal is an ideal choice. If you are planning to invest in gold, you need to understand the impact of recessions, shifts in demand and supply, etc. on the price of this metal.Keep reading to know the gold rate history in India, its significance, the best gold investment options, and more!Significance of Gold in Indian CultureGold, referred to as “Swarna” in ancient India, has been an integral part of our culture and heritage. It is considered a symbol of auspiciousness and good luck during religious occasions or marriages.

Gold, a bright yellow metal, holds immense importance in Indian culture. Whether you want to gift someone or invest in your future, this metal is an ideal choice. If you are planning to invest in gold, you need to understand the impact of recessions, shifts in demand and supply, etc. on the price of this metal.Keep reading to know the gold rate history in India, its significance, the best gold investment options, and more!Significance of Gold in Indian CultureGold, referred to as “Swarna” in ancient India, has been an integral part of our culture and heritage. It is considered a symbol of auspiciousness and good luck during religious occasions or marriages.

What is Salary?The employer makes regular payments to the employee for the work done. Such regular payment is termed as the salary. The employment contract specifies the wages, usually made each month. The components of the salary structure are:Basic Salary: The employee’s basic income is around 40%-50% of the total salary. The employer pays the employee for his skill, experience, and qualifications.

To determine the actual success of their assets, investors must compute the average stock price. Investors may effectively estimate the profitability of their investment by calculating the average price paid for that stock over time. This formula smoothes out stock price swings, resulting in a more consistent and trustworthy measure of investment success. Knowing the common charge additionally permits traders to make more excellent, knowledgeable choices regarding purchasing and maintaining their assets. It enables customers to determine if they're paying a top-class or a discount relative to their whole funding.What is a Stock Average Calculator?A Stock Average Calculator is a tool that helps investors determine the average price of their stock holdings.

Home loan prepayment refers to extra payments towards your unpaid home loan debt, over and above the average monthly amounts (EMIs). By prepaying a part of the loan, you can significantly reduce the total interest paid over the life of the loan and shorten the payback term. Home Loan Prepayment calculator helps you to calculate the savings you can have by home loan prepayment. Home loan EMI calculator with prepayment offers several advantages: Interest Savings: Lowering the remaining capital can reduce the total interest paid over the loan time, saving thousands of dollars. Reduced Tenure: Prepayments can help you pay off your home loan faster, shortening the general payback time and allowing you to become debt-free sooner. Lower EMIs: In some cases, prepayments can decrease your monthly EMIs, providing you with more financial freedom. Given these benefits, home loan prepayment has become an increasingly popular strategy for homeowners looking to improve their mortgage payments and achieve financial freedom sooner. Importance of Using a Home Loan Prepayment Calculator A home loan prepayment calculator is a valuable tool that helps you examine the effect of making extra payments towards your home loan. By using this tool, you can: Interest Savings Estimation: The tool can give you an idea of the total interest you'll save over the loan term by making prepayments. Determine Reduced Tenure: The tool can help you understand how much you can shorten the payback time by making extra payments. Evaluate EMI Changes: The tool can show you how your monthly EMIs will be affected by prepayments, allowing you to plan your financial goals properly. Explore Different Scenarios: You can try various advance amounts and rates to see how they impact your loan payback, allowing you to make informed decisions. Optimise Prepayment Strategy: The tool can help you determine the best prepayment strategy that fits your financial goals and limitations. By using a home loan prepayment tool, you can make a well-informed choice about whether prepaying your home loan is the right financial move for you and how to spend your resources best to achieve the desired result. How Does the Home Loan Prepayment Calculator Work? The home loan prepayment tool uses a specific method to determine the impact of extra payments on your home loan. The formula used is as follows:Remaining Principal = (Remaining Principal - Prepayment Amount) x (1 + i/n)^(n*t) Where: The remaining Principal is the remaining loan amount after the prepayment Prepayment Amount is the extra amount you wish to pay towards the loan i is the annual interest rate on the home loan n is the number of times the interest is added per year (usually 12 for monthly compounding) t is the leftover term of the loan in years Let's work through an example to understand how the computer uses this formula: Suppose you have a home loan with the following details: Loan Amount: ₹50,00,000 Interest Rate: 8% per year Loan Tenure: 20 years Monthly EMI: ₹41,882 You plan to make a prepayment of ₹5,00,000.

Retirement planning is a crucial part of financial management, and one of the critical tools offered to Indian citizens is the Atal Pension Yojana Calculator. Launched by the Government of India in 2015, the Atal Pension Yojana (APY) is a volunteer pension plan that gives a fixed monthly income to members during their retirement years. Different online tools have been created to help people understand and maximise the benefits of the APY. Fill in the pension amount you want to receive and the age you are going to start the investment and it will tell you how much you should invest to get the desired pension amount.    What is Atal Pension Yojana (APY)? The Atal Pension Yojana (APY) is a government-backed pension plan that aims to provide a steady and sure source of income to Indian people during their old years. The plan is open to all citizens of India between the ages of 18 and 40 years, and it offers a choice of five different income amounts running from ₹1,000 to ₹5,000 per month. The key features of the Atal Pension Yojana include: Guaranteed Pension: The APY promises a set monthly pension for the member upon reaching 60, based on their chosen pension amount. Co-contribution: The central government co-contributes 50% of the subscriber's payment or ₹1,000 per year, whichever is lower, for qualified customers. Tax Benefits: Contributions made to the APY are qualified for tax benefits under Section 80CCD of the Income Tax Act. Flexibility: Subscribers can pay monthly, yearly, or annually and opt to increase or lower their donation amount. Survivor Benefits: In the event of the subscriber's death, the partner receives the income, and the named recipient gets the leftover sum. With its attractive features and government backing, the Atal Pension Yojana has become a popular retirement planning tool for millions of Indians. Understanding how to determine and predict the possible returns from the APY successfully is crucial for making informed financial decisions. What is the Atal Pension Yojana Calculator? The Calculator Atal income Yojana is a web-based tool that allows you to predict the possible income amount, your necessary monthly/annual payments, and the total sum you can amass under the APY system. By entering critical facts about your age, desired salary amount, and other relevant factors, the APY tool can provide personalized forecasts and figures to help you plan your retirement savings effectively. The main components of the APY formula include: Pension Amount: The tool allows you to decide the appropriate monthly pension amount, starting from ₹1,000 to ₹5,000. Age: The tool needs you to add your current age, as the payment amount and estimated salary are highly based on age. Contribution Period: The tool estimates the salary based on the years you plan to pay to the APY scheme. Payment Amount: The tool finds the monthly or yearly payment needed to achieve your chosen salary amount. Projected salary: The tool estimates the monthly salary you can expect to receive upon reaching the age of 60. Total Corpus: The tool also shows the total corpus you can collect over the donation time. Using the APY tool, you can explore different situations, try various contribution amounts and salary targets, and arrive at an ideal retirement savings strategy tailored to your needs and financial goals.How to Calculate Atal Pension YojanaThe Atal Pension Yojana (APY) is meant to provide a fixed monthly pension to members upon reaching the age of 60.