EPFO has launched the Direct UAN Allotment Service. If you are searching for a new job or intend to join a new job you can generate a UAN number on your own. As you are aware UAN is mandatory for PF accounts and member contributions. The current process of UAN generation is with the employer. In the case of a large number of new joiners, it becomes difficult for the employer to handle a large number or UAN generation requests. There may be a mismatch in Aadhaar information and other data which leads to delay in UAN generation.
In order to simplify this, EPFO has launched Direct UAN Allotment Services. Now any Indian Citizen with a valid Aadhaar Card can generate his/her UAN number on their own. They just need to visit the Unified Portal and follow certain steps to generate UAN. The generated UAN can be submitted to the employer while joining a new job. The introduction of the new Direct UAN Allotment service will save a lot of time. Employee and Employer both will be happy with this service. If you are willing to use this new direct UAN allotment service here is a step by step process.
Once you click on this link, a new screen will ask for your Mobile Number. Input your Mobile Number Linked to your Aadhaar and click on “Generate OTP”. On clicking OTP will be sent to your registered mobile number.
Step 3:
On entering the OTP and accepting the Disclaimer provided therein by clicking on the box, the Submit Button will be enabled. Now click on the “Submit” button to proceed further.
Step 4:
The screen will display the Basic Details available against your Aadhaar. You can verify your details and enter the required data in the mandatory fields provided on the screen. You need to click the Register button.
Step 5:
On clicking the “Register” button the UAN will be allotted and will be displayed on the screen.
In order to use the above facility your Aadhaar must be linked to your mobile number. You should not hold any other UAN account. If your Aadhaar is already linked to UAN it will display your Aadhaar is already linked with UAN.
For more information about Universal Account Number call on Toll Free No. 1800-118-005.
Advantage of using Direct UAN Allotment –
The UAN generation process will be faster and hassle-free.
The problem like Aadhaar Mismatch and information mismatch can be avoided.
The step of KYC update and linking Aadhaar with a UAN account at a later stage is not required.
Please Share your views and experiences in the comment section.
Loan against Mutual Funds or Financial Securities is one of the ways to fulfill your financial need without liquidating your assets. You can borrow money against securities such as mutual funds, shares, insurance policies etc. The process of getting a loan against financial securities is fast and assured. You can get a loan for all types of funds like equity, debt, hybrid or liquid funds. However, it is recommended to go for a loan against equity mutual funds. Banks or NBFC charges 11-12% interest rate against borrowings. You can expect 60-70% loan against the market value of financial securities.
In this post, we will try to understand the process of getting a loan against mutual funds.
How to Apply Loan against Mutual Funds?
You can apply for a loan against mutual funds or financial securities in almost every bank or NBFC. Few banks also offer this facility online.
You need to log on to the website of bank or NBFC.
Fill up the application form mentioning mutual fund unit folio, scheme name and other details.
Get approval of the loan.
You need not to provide any guarantor or collateral for availing this types of loan.
If you holding mutual funds or securities in demat form, the sanction and disbursal of loan is faster. If it is held in the physical format you need to enter into loan agreement and submit physical documents.
Bank or NBFC from where you want to avail loan facility contacts Karvy or CAMS to mark a lien on the number of units applied for a loan. Once marking of lien is completed bank or NBFC lends the amount.
Please note that you cannot sell lien fund units. Lien of fund refers to the right of financer to hold or sell the mutual funds in case fund holder default against the loan.
Once you make payment of loan bank or NFBC will send a letter to Karvy or CAMS for removal of lien. The lien removal request contains folio number, scheme, and unit held. Lien can be removed completely or partially. A partial lien removal can be done in case you do part payment of a loan.
Key Features of Loan against Mutual Funds –
The process of availing loan against mutual fund is very fast.
Documentation requirement is less.
Guarantor or Collateral is not required for this type of loans.
The interest rate is less compared to personal loan 11-12%.
You can do pre-payment of loan anytime.
You can close this loan by making payment of the entire loan.
Default in payment for multiple times may lead to enforcement of lien.
You can get up to 60-70% loan against the market value of mutual funds.
Loan against mutual funds is a very good alternative to personal loan or loan against gold. This loan option is advisable only if you are looking for a short-term loan. It is just like overdraft facility for the short term monetary requirement. It is secured loan so interest rate will be lower. The application process is easy and hassle-free. However, you need to be sure that you will be able to pay this loan on time. Default in payment may lead to enforcement.
If you have any queries related to loan against mutual funds please post in the comment section. I will surely answer it.
Note – Please check for the charges such as loan processing charges, foreclosure charges, late payment fee etc. before you avail such loan.
NRI PPF – The PPF scheme is most popular and preferred investment option in India. The PPF scheme is recently amended by the government of India for NRI. As per new notified rules PPF account needs to close on the day the investor become NRI. This rule is also applicable to NSC. If the account is not closed it will only earn 4% return, whereas NSC will earn post office saving bank account return. NRI shall not be able to open PPF and NSC account going forward. This rule is applicable with recent effect. This means current NRI PPF account will only earn 4% return instead of 7.8% return at present. The difference between old and new NRI PPF rule is shown below.
NRI PPF New Rules
As per the latest rules, NRIs cannot open a new PPF account in India.
NRI’s are not allowed to continue PPF account up to maturity.
PPF account of NRI will be closed immediately once their status changed to NRI from resident Indian.
The existing PPF account will get only 4% interest.
The interest rate of 4% is not sufficient to even beat inflation. So, NRI with PPF account or NSC must be worried what to do? One option is stay invested and earn 4% return and the second option is to withdraw money from PPF and close the account. However, the big question is that if NRI is staying abroad how he/she can close NRI account. Here is a complete guide showing How NRI can withdraw money from PPF?
If you are an NRI planning to withdraw money from PPF due to this new rule please note that your request can be processed by bank or post office only if your signature is attested by an authority. The authority of attestation can be Gazette officer or PSU Bank officer. Follow the steps given below to close your NRI PPF account.
Step 1 – Send PPF closing form to your relative, parents or friend in India where you have NRE/NRO account. You also need to send authority letter stating that you are allowing them to do withdrawal process by closing PPF account on your behalf.
Step 2 – The person needs to visit bank where NRI have NRE/NRO account. They need to get attestation of the authority letter. After it is attested person has to visit bank or post office where PPF bank is held. The bank will accept the document and close the account.
Over to You –
If you are NRI it is advisable to close your PPF account and invest in either mutual funds or equity. Another alternative option for you is NPS.
So, you’re dreaming of starting a business? That’s fantastic! Whether it’s a side hustle that’s been brewing in your brain or a full-blown startup idea you just can’t shake off, launching a business can be one of the most thrilling (and yes, slightly terrifying) decisions you’ll ever make. You’re in for a roller coaster — complete with dizzying highs, unexpected dips, and lots of lessons along the way.
But hold your horses! Before you take the plunge, you’ve gotta do a bit of soul-searching and strategic thinking. Nope, this isn’t about writing a 50-page business plan that gathers dust. It’s about asking yourself the right questions — the kind that push you to think deeper, plan smarter, and act bolder.
This guide is all about those 10 essential questions you must ask before starting a business. No fluff. No corporate mumbo-jumbo. Just straight talk that’ll help you get your ducks in a row before you go all in.
Starting a Business – 10 Questions You Must Ask Yourself
The problem you are trying to address
First, you need to ask yourself what will be your product or service?. What problem are you trying to address? Will your product or services will be able to generate enough revenue or not? If you can’t answer this, you probably need more time to think through your business idea.
When you think about solving a problem, think differently. Focus on building a must-have, not a nice-to-have product. Solve a real, painful problem. Like Google made online search simpler, Uber gives instant car cab services, and Airbnb gives vacation rooms at a cheap cost.
What funds do I need to start a business?
Another million-dollar question – Do I have the funds to start this business? Calculate your exact fund requirement and find a source of capital. Think about absolute need only. You can always start a business with low investment and add more capital at a later stage. It is advisable not to go for a big bang approach.
What resources do I have to start a business?
Along with evaluating fund requirements, you also need to assess what type of resources you have. This includes machinery, raw materials, and manpower required for starting a business. So, make a list of everything you have that can help you in starting a business.
What is your competition?
You cannot play a game if you are not aware of the players. So, find out what your competition is. You can do that by market research. Make sure to enter a business where you have less competition. You may not survive if you jump into a business where the competition is greater. If you see competition in the business, you need to decide if you can offer something better or not.
Another important question you need to ask yourself is Do you have a passion for doing business? Passion is something inside out. Passion in business can help you succeed. Passion is what drives you. Passion keeps you going despite difficulties that may arise in your business.
Do I have time?
If you are doing a job and planning to start a new business important question to ask is do you have time? Business demands dedicated time and hard work. If you can’t devote time to your business, there is no point in starting a business.
Why am I doing this?
Why is it very important in business? What is your objective behind starting a business? If your objective is only earning money, you may not go far. Your objective should be building a product or service that solves people’s problems. In addition this you should also ask yourself – Why should someone buy your product or services? answers of these questions will surely help you in going ahead.
Is my business idea Interesting?
It usually takes three to five years of dedicated efforts to deal with the challenges of a new business. If your business idea is not interesting, you may end up leaving in the middle. Thus, you will notbe able to establish a successful business venture. This is why it can be important to choose the right business idea that matches your interests and market demand. For example, if looking for running and for starting a nail salon, it can be important to select a venture that excites you as well as has a strong market potential. Running such a business can be a rewarding experience, allowing you to combine your creativity and entrepreneurship.
It is important to select a unique business idea. Your chance of getting success is high if you select unique business idea. You can take a look at some unique business ideas given here. You need to do extensive research on available products or services to ensure that your idea is valuable.
Can I survive during the initial period?
Before taking a final call on starting a business, you need to ask yourself, that Can I survive during the initial period of business without earning money? Your business may not generate regular income for you for months or even for years. You have to make up your mind about the adverse business conditions during the initial period.
FAQs on Starting a Business
Q1: Can I start a business with no money? Yes, but you’ll need to be scrappy! Service-based businesses, affiliate marketing, or drop-servicing models require minimal capital to get going.
Q2: Is a business plan necessary? Not always a 50-page one. But you do need a roadmap — even a one-page lean business canvas can do wonders.
Q3: How long before my business becomes profitable? It depends on the industry, business model, and effort. Many startups take 1–2 years to become consistently profitable.
Q4: Should I quit my job before starting a business? Not necessarily. Many successful entrepreneurs started as side hustlers. Test the waters before taking the leap.
Q5: What’s the biggest mistake new entrepreneurs make? Trying to do everything themselves — from design to sales to bookkeeping. Delegate or automate wherever possible!
Conclusion
Starting a business is like jumping into the deep end. It’s exciting, nerve-wracking, and wildly rewarding — but only if you’re prepared to swim with intention.
Asking yourself these 10 honest, soul-searching questions before starting a business isn’t about slowing you down. It’s about gearing you up for the real deal. With clarity, confidence, and a game plan in hand, you’ll stand a far better chance of building something truly awesome.
So go ahead — dream big, plan smart, and hustle hard. Because the world doesn’t just need more businesses.
