As the person enters retirement life, insurance needs may gradually decline but in some cases, they may still need adequate insurance cover.

The Reserve Bank of India (RBI) stressed the need to revise the deposit insurance coverage considering the growth in the value of bank deposits, inflation, higher income levels, etc.

India presently has an elderly population of 153 million, a number that is predicted to more than double to 347 million by 2050.

Senior citizens can’t afford to make big changes in their retirement investments as it may result in undesired outcomes. However, it becomes crucial for them to adjust their investments in sync with the changes announced in the budget.

Senior citizens enjoy many benefits in India, from higher interest rates and deductions to cheap travel fares and other subsidies compared to others.

All senior citizens aged 60 and above but below 75 must file their income tax returns.

Seniors depend on limited financial resources for living. However, with good government policies and assistance, senior citizens can overcome all the challenges that they may otherwise face from time to time.

Plan your finances strategically. For instance, consider life expectancy, projected returns, inflation, and present and future income to ensure regular cash flows.

The portfolio value must be less than Rs 10 lakh for all securities (debt or non-debt) at any point to stay eligible for Basic Service Demat Account.

The uncertainty over which way the national election results will swing has wreaked havoc on the stock market, with the Sensex and Nifty down nearly 4,000 points in the morning session.