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SBI Launches Collateral-Free Loans Up to ₹4 Lakh for Agniveers
On Independence Day, the bank announced a special personal loan scheme with zero processing fees to support recruits under the Agnipath programme. State Bank of India (SBI) has launched a new personal loan scheme for Agniveers to mark India's 79th Independence Day. The offering allows recruits with an SBI salary account to access collateral-free loans of up to ₹4 lakh. The bank also announced revised charges for its online IMPS fund transfer service, which take effect today. Supporting the Nation's Protectors Under the new scheme, Ag…
Indian Household Debt Hits Record ₹4.8 Lakh Per Person
As the nation marks Independence Day, new data shows rising EMIs are trapping citizens in a cycle of debt, limiting personal and financial freedom. As India celebrates its 79th Independence Day, a growing number of its citizens feel financially constrained. New data reveals the average debt for individual borrowers has climbed to a historic ₹4.8 lakh as of March 2025. This surge in loans, from personal expenses to consumer goods, is raising serious questions about the nature of modern economic freedom for millions across the country. The Ris…
EPFO Simplifies Aadhaar Linking for PF Accounts
The new process allows employers to directly correct name and birth date mismatches, aiming to cut down on paperwork and delays for employees. The Employee Provident Fund Organisation (EPFO) has updated its rules to make linking an Aadhaar number to a Universal Account Number (UAN) much simpler. According to a circular released on August 13, the new process gives employers more authority to make corrections. This change aims to reduce delays and paperwork for millions of members trying to update their provident fund accounts. The main reason…
No Return to Old Pension Scheme, Govt Says
The Finance Minister has ruled out restoring the Old Pension Scheme, citing financial unsustainability, and introduced a new "assured payout" option for government employees. Finance Minister Nirmala Sitharaman announced on Monday that the central government will not bring back the Old Pension Scheme (OPS). Speaking in Parliament, she explained that a new Unified Pension Scheme (UPS) has been introduced as an alternative for government employees. This new option aims to provide guaranteed benefits while maintaining fiscal responsib…
Personal loan processing fee What it is and why banks charge it
A one-time, non-refundable fee of 0.5% to 4% plus 18% GST can reduce your net disbursal and lift your true borrowing cost. The amount varies by lender and borrower profile, and may be waived during special promotions. Personal loan processing fees are back in focus for Indian borrowers as banks and NBFCs detail charges that add up quickly. As of August 2025, most lenders levy a one-time fee between 0.5% and 4% of the sanctioned amount, plus 18% GST. Big names including HDFC Bank, ICICI Bank, SBI, Kotak and Bank of Baroda publish these ranges…
