Defaulted on cheques? Your account may be closed
Those writing cheques without adequate funds in their
account risk having their account blocked, a measure that will further tighten
the regime around bounced cheques.
India’s largest lender, the State Bank of India, has decided
to close the accounts of those customers who default on their cheques too
frequently, a lead other banks are sure to follow.
An internal circular of the bank has asked officials to
close the accounts of those customers whose cheques have bounced four times or
more in a financial year.More…
Source:http://economictimes.indiatimes.com/news/news-by-industry/banking/
finance/banking/Defaulted-on-cheques-Your-account-may-be-closed/ articleshow/6738834.cms
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All
About NPS
NPS basics
The New Pension Scheme (NPS) is among the few products that
will be eligible for tax deduction up to Rs 1 lakh once the direct tax code
(DTC) kicks in. In a scenario where several products will lose the tax
advantage, this regulatory nudge is likely to galvanise a lot more people into
opening an NPS account. Here we explain at length the procedure for doing
so.
When NPS was thrown open to the unorganised sector on May 1,
2009, there were a number of horror stories in the media about how opening an
NPS account entailed a lot of hardship. Points-of-purchase (P-o-P) did not have
dedicated staff, information was scarce, and worst of all, unscrupulous agents
tried to steer you away from the NPS and towards pension schemes of insurance
companies or towards Ulips. More…
Source:
http://www.valueresearchonline.com/story/h2_storyview.asp?str=15367
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Liquidity means flexibility
We are used to looking at investments in isolation, without
considering the whole portfolio. Investments are made at different times, and
perhaps, through different advisors, which does not help in consolidation. By
default, we end up creating a somewhat diversified portfolio, which takes care
of risks, and partially, returns. But a critical factor that is impacted when
we consider investments in isolation is liquidity. There are several instances
where liquidity is commonly short-changed.More...
Source:
http://www.business-standard.com/india/news//liquidity-means-flexibility/
/409794/
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Top 10
tricks agents use to fool customers
Buyers Beware. This is the mantra one has to follow in
Indian financial markets. From last many years agents and so-called “Financial
Advisors” are using fancy words and tactics to lure investors and sell them
inappropriate products like wrong Mutual funds, ULIPS, ULPP’s and Endowment
Policies . In this article we will see what are the common tactics used by
agents and how we should handle them and demand logical explanation. Note that
this is not an exhaustive list and there are many more misselling techniques
which are not covered here. Let’s see them one by one. More...
Source:
http://economictimes.indiatimes.com/quickiearticleshow/5889609.cms
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Making MF transfers easy -Nominee for your funds
Making MF transfers easy -Nominee for your funds
Registering a nomination facilitates easy transfer of funds to
the nominee on the demise of the investor.
What is a Nomination?
An investor can nominate a person(s) called
nominee(s) to whom his/her Mutual Fund Units will be transferred on his / her
demise.Mutual Fund units get transferred to the nominee registered in the folio
on the demise of the Investor.
What are the benefits of registering a nomination?
Registering a nomination facilitates easy
transfer of funds to the nominee(s) on the demise of the investor. In the
absence of the nominee, a claimant would have to produce a host of documents
like a Will, Legal Heir-ship Certificate, No-objection Certificate from other
legal heirs etc. to get the units transferred. The process is simple if a
nominee is registered in the folio. More...
Source:http://www.thehindubusinessline.com/iw/2010/10/10/stories/2010101051320800.htm
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How to Buy Health Insurance
How to Buy Health Insurance
In March Noida-based interior designer Seema Singh had to
undergo a surgical procedure called uterine arterial embolisation. She was
flabbergasted to learn that although she would be required to spend only one
night at one of Delhi's top hospitals, nonetheless the procedure would cost her
Rs.70,000. Then she remembered that about six months ago her brother, a
certified financial planner, had badgered her into purchasing a health
insurance policy. She looked around for the policy and the accompanying
identity card. These she deposited with the third-party administrator (TPA) at
the hospital. She was flooded with relief when a couple of days later she
learnt from the TPA that the insurance company had consented to foot her entire
bill. More...
Source:
http://www.valueresearchonline.com/story/h2_storyview.asp?str=15323