Information provided on this newsletter has been independently obtained from sources believed to be reliable. However, such information may include inaccuracies, errors or omissions. and its affiliates, information providers or content providers, shall have no liability to you or third parties for the accuracy, completeness, timeliness or correct sequencing of information available on this newsletter, or for any decision made or action taken by you in reliance upon such information, or for the delay or interruption of such information., its affiliates, information providers and content providers shall have no liability for investment decisions or other actions taken or made by you based on the information provided on this newsletter.
Aadhaar has received a legal backing to be used in social welfare schemes and to disburse subsidies as well. So if you don’t have an Aadhar number yet, then act now and apply for one at the earliest.

With an intention to use Aadhaar for all government schemes, the Centre last week notified all sections, but one, of the Aadhaar, (Targeted Delivery of Financial and Other Subsides, Benefits and Services) Act, 2016. This means that Aadhaar has received a legal backing to be used in social welfare schemes and to disburse subsidies as well.

The Supreme Court had last year ruled that use of this system will not be mandatory and can only be extended to services like transfer of cooking gas subsidy, Jan Dhan Yojana, and Mahatma Gandhi National Rural Employment Guarantee Act. The ambit has slowly increased as it is seen as a valid document in daily financial life as well.

If you don’t have an Aadhaar number yet, should you apply for one, as it looks set to become a key validation and verification document? Here’s a look at Aadhaar’s usage in availing financial services.

Use in transactions

Taxation: You can e-verify income tax returns with the help of Aadhaar. You need to link your Aadhaar and Permanent Account Number (PAN) to the income tax department’s website with the help of a one-time password (OTP). However, it is important that the details such as name of the person on PAN and Aadhaar are same. Any difference, even in the spelling, may make it impossible to link the number. “It is not a mandatory element, but the government is looking to make the system more convenient for a taxpayer…from e-KYC to verification, Aadhaar will be a strong requirement to do business with the government,” said Archit Gupta, founder and chief executive officer,, an online tax filing company.

According to the company, of the total number of e-verified income tax returns (ITRs) of 16.8 million this year with the tax department, around 7.77 million verifications were through the Aadhaar-PAN linked system.

Mutual funds: Aadhaar-based e-KYC has been facilitated by the Securities and Exchange Board of India for mutual funds. The procedure needs an OTP and Aadhaar. “There are some restrictions. If you do e-KYC through Aadhaar, you cannot make large-value investments due to limit of Rs 50,000 per year,” said Vishal Dhawan, founder and chief financial planner, Plan Ahead Wealth Advisors.

Banking: It is mandatory for customers to provide certain details to comply with know-your-customer (KYC) norms. To make this process paperless, the Reserve Bank of India had introduced Aadhaar-based e-KYC, which substitutes the need to submit multiple documents . Instead of giving separate proofs for ID and address, among others, a single document can replace all these requirements. To open a Jan Dhan Yojana account, one can simply use only Aadhaar as well. “It (Aadhaar) also helps in keeping track of the various schemes and programmes the government runs along with the beneficiaries,” said Adhil Shetty, chief executive officer and co-founder,

Payments: Last week, there were reports that Aadhaar was going to be made mandatory to book railway e-tickets from December. A senior railway official, associated with the developments, clarified that it will not be in December. The Railways has been cracking down on fraudulent bookings with measures such as different timings for tatkal bookings, among others. Aadhaar-based booking may be a step in that direction..

What you should do

It would be prudent to apply and get an Aadhaar if you don’t have it already. You can visit the nearest enrolment centre along with proof documents and get your biometrics registered as well.

While not mandatory, experts recommend getting this card to benefit from smoother transactions.

Source: LiveMint
It’s time to wake up and take charge of your life & career with these 14 easy steps. Try them and see the difference yourself!

Hack—an uncommon but clever technique to solve problems or create a favourable position. Success is never easy and sustained winning at your career over a 30 to 40 year span is incredibly hard. However, the most successful people seem to get there effortlessly every time. What's common to them is neither genetics nor luck but a set of common habits that create the momentum and circumstances for the dice to be loaded in their favour. You too can take responsibility for your success and achieve massive outcomes by making these small changes in your life that most people ignore. 

Kill the 'snooze' button: 'Mind over mattress,' says Robin Sharma, life coach and author. A study says most top executives wake up daily between 4 am and 6 am. Apple CEO Tim Cook starts his day at 4.30 am and is in the gym by 5 am. The extra time you gain in the morning gives you an unfair head start over the rest of the world. You can choose to invest in your health and longevity through exercise, plan out your day to remain in control, spend time with your family or simply complete a few tasks before other people wake up. You will learn to go to sleep early, thus swapping an hour or two of non-productive tiredness for the early morning energy and lack of distraction. One hour every work day morning adds up to a 250 hour advantage or 6 extra working weeks in a year. 

Your evenings make your career: Quite simply, what you do with the time under your control is what determines where you will end up in life. Thus what you choose to do after work matters more than what you do at office where you have little choice. Instead of TV or social media, invest in yourself. Self-made billionaires like Warren Buffet, Elon Musk and Oprah Winfrey are all voracious readers, reading more than two hours a day as opposed to the average person's 20 minutes. Connect and catch up with people after work to create stronger bonds and grow your network. Do an online course and get certified. The hours invested add up quickly and pay rich dividends. 

First-half hack: Stack up your to-do list towards the first half of the day and reserve the second half for meeting people, following up on projects and tackling emergencies. Very successful sales people kickstart their day by making the toughest call first. By getting the most important tasks done when you are fresh builds up tremendous momentum for the entire day. Postponing heavy thinking or problem solving for the second half, when the team is distracted or tired, rarely works out. 

The four-hour game: Replace four hours of watching cricket over weekends with a game of your own. Choose a skill that you would like to acquire but are never able to find time for. Start writing that book you always wanted to. Learn android programming because you want to be an app developer. As you find enjoyment in learning and growth you will look for opportunities to display and apply your new found skills during the work week. Four hours per weekend adds five working weeks to a year. 

Five minute rule: If a task takes five minutes or less, do it now. Else feel free to postpone it. If you remembered a pending follow-up sales call, do it immediately. Successful people are incredibly prompt with responses to requests. They learn to dash off an email while the request is fresh. Avoiding small tasks increases your mental overhead and your to-do list. Getting them out of the way eliminates nagging feelings that prevent you from focusing on big projects. 

When in doubt say 'Yes': Successful people simply find themselves in the right place at the right time. They get there by saying 'Yes' more often than they say 'No' when an opportunity comes up. Volunteer for projects and activities even when the payoff is uncertain. As you become more accepting of half chances that come your way, your success rate takes off. Even where there is no payoff, you become a person to whom people say Yes when you need help. 

Schedule fun: Treat your recreation time with importance. Schedule fun for your free time. Successful entrepreneurs and professionals either have a hobby they fall back on or know which activities energise them. If you love movies, schedule one a week. Block your calendar for playing football with friends. Make a family outing compulsory for Sundays. Your fun time relieves your stress and brings back joy and happiness that keeps you going through the week. 

Daily gratitude: Look out for what is working well and express gratitude every day. When you look out for what is good in your family and team and praise someone daily, you boost their energy levels. Acknowledging others mentally relaxes you and increases their success rate which benefits you too. Counting your own blessings and expressing gratitude keeps you grounded and puts your troubles in perspective. 


The 'Write' Way  Carry a notebook to meetings. Note down tasks, ideas, responsibilities and deadlines. This improves concentration and listening skills. You never miss out on responsibilities and have a written reference for the future. 

Find The Wheel  Don't waste time reinventing the wheel. Turn in high quality work while saving hours and days in doing it. Whenever you start a new task, look for the optimum way from someone who has done it before. 

After a meeting, ask the person receiving instructions to summarise what was understood. By repeating and over communicating, you eliminate costly misunderstandings. By synthesising what was said, you engage your mind with the problem. 

One Last Time 
Before submitting your work or sending email, double check for mistakes and language. If it is a critical task, have another pair of eyes go over it. If you are working on an excel or code, build check-sums and automated unit testing mechanisms. 

  Whenever you get a chance, lend a helping hand to team mates with deadlines and tasks. Mid and late stage career progressions is dependent on your ability to work with people. As you build bonds, you also receive support. 

Reminder System
  For deadlines, put in a calendar reminder to follow up mid-way and closer to end of task. This helps everyone monitor progress and make corrections or add resources before an incomplete project becomes a crisis. 

(By Devashish Chakravarty, Director, Executive Hiring, at
Source: Economic Times
Be it taking that gym membership that has never been used or sharing your credit card PIN with a stranger, most of us have pushed our hard-earned money down the drain at one time or another. So it’s a must that you do break-free from these habits right away to stop straining your wallets.

1.Buying Life Insurance for a Child:
Life insurance is brought to replace the salary of a breadwinner, if he expires. A child doesn't earn and hence doesn't need an insurance. Most parents buy it as an investment, not realizing that the premium is high and the returns are low.

What You Can Do Is: Surrender the traditional plan and invest that amount in a mutual fund or an ELSS for the long-term goals of the child.

2.Buying a House You Cant Afford:
Investing in a property, which may impact your other goals,isn't a smart move. A house is an liquid asset, and if you have a transferable job, are not sure where you will settle and cannot invest for other goals, postpone this goal.

What You Can Do Is: Experts advise not to spend more than 30% of your income on loan EMIs. If buying a house means not being able to save for retirement, then don’t buy it.

3.Buying Time-Share Plans:
For one, you are unlikely to use the vacation time-share plans fully. You will need to fit into the fixed regime of pre-determined days at specific locations booked 5-6 months advance. Besides, lodging is free, you pay for everything else, including food.

What You Can Do Is: With weekend holidaying big on trend and light on pocket, travel at will without the burden of high upfront EMIs for time-share plans.

4.Keeping up with the Joneses:
If you want to keep pace with your wealthy neighbor or relative, your expenses may not be able to keep pace with your income. This will cut down on your surplus amount and investments, ultimately impacting your goals.

What You Can Do Is: Compare incomes first, instead of new phones and cars your neighbor buys or the number of holiday they go on. Indulge in expensive binges only if you have some surplus left after investing.

5.Withdrawing EPF Corpus:
If you withdraw the corpus before five years of continuous service, it is taxable. Since there are few savings people dedicate exclusively to retirement, it is advisable to allocate the EPF to this goal.

What You Can Do Is: If you shift jobs, have the amount transferred to your new employer. For emergencies, maintain a contingency fund. As a rule, do not dip into EPF corpus.

6.Not Having Fun Money In Budget?
You will constantly overshoot your budget if you don’t provide for fringe or infringement on entertainment expenses. Its human to want to spend on oneself and essential to stay motivated to save.

What You Can Do Is: Designate a nominal amount for eating out or movies or just for fun shopping every month.

7.Not Spending on Career:
Enrolling in a new course or acquiring a skill mid-career can enhance your income manifold. So taking some money out from your tight budget could pay in the long run.

What You Can Do Is: Keep yourself updated with information related to your profession through online and offline courses or literature. You could even take a loan for studying if it means a significant rise in income later.

8.Sharing Your Password or PIN with Strangers:
Fraudsters will gain access to your bank account or credit card and wipe out your savings or conduct online transactions in what is possibly the easiest way to loose money.

What You Can Do Is: Never offer sensitive financial information regarding banking, insurance or taxation to anyone over email or phone.

9.Investing in Fixed Deposits:
You get a lower rate of interest, the maturity amount is taxable and you have to add up the interest on deposit every year to your taxable income. It’s not exempt under section 80C unless it’s a tax-saving five-year deposit.

What You Can Do Is: Invest in avenues offering better returns such as mutual funds or ELSS plans.

Source: Economic Times
Intro These money management apps keep a tab on your expenses and even offer advice on tax savings.

Personal expense tracking was the first thing to be digitized even before cash withdrawals from ATMs or transacting via mobile phones came about. People would use Excel spreadsheets for keeping track of their expenses each month. Though sheets are still the easiest to operate, there are a few apps that do the job while also keeping tabs on bill payments, reminders and refunds. You can set a budget on these apps, and even get advice on investments and tax saving. Here’s a look at four such apps.

While features across apps are quite similar, MoneyView is one of the most accurate apps . The app takes a few minutes to setup as it curates your messages to collect information on accounts and bills. Although registration process is not as easy, MoneyView makes up for it with the features available on the platform. It provides help in filing income tax returns and has a green account option where one can get advice on investments and tax savings. The user interface is not as easy, but the app will categorise each and every spend perfectly. It has embedded payment platforms for payment of mobile and credit card bills.

Though not as accurate as MoneyView, Gullak’s personal expense manager is the easiest app to setup. While registration requires a curation of messages, much like MoneyView, it isn’t as accurate in terms of categorisation of expenses. The dashboard is easy to use and provides information on spends via e-wallets which no other app does. Moreover, Gullak also records if you have lent or borrowed money from someone. The app will also give information on ATM withdrawals and reminders on bill payments.

Walnut, much like MoneyView and Gullak, depends on messages for expense management. Besides, it also provides options to send and receive money. Although the platform has all the expenses in order, the bank account information tab is very confusing. The user interface for the app is tricky and adding or deleting new expenses is impossible. The app offers features like three-month average spend, but it is impossible to account for deposits and ATM withdrawals. While it has a location based tag feature, it does not run as accurately as the one in MyUniverse.

This Aditya Birla Money platform does not look for messages but instead asks users to set up each and every account. The registration process for the app is difficult, as it requires too much information, but for those who want an accurate tracking of their expenses, MyUniverse is the best option available. Although the platform is not easy to use and requires some getting used to, the app integrates everything from market quotes to the group’s investment advisory service, ZipSip. The app also has a watchlist feature where one can track mutual funds and stocks.

Source: Financial Express
Information provided on this newsletter has been independently obtained from sources believed to be reliable. However, such information may include inaccuracies, errors or omissions. and its affiliates, information providers or content providers, shall have no liability to you or third parties for the accuracy, completeness, timeliness or correct sequencing of information available on this newsletter, or for any decision made or action taken by you in reliance upon such information, or for the delay or interruption of such information., its affiliates, information providers and content providers shall have no liability for investment decisions or other actions taken or made by you based on the information provided on this newsletter.