Archive for April, 2012

The Supreme Court announced that an insurance company is liable to compensate third party claims even if the vehicle owner’s cheque for premium bounces. It stated that the insurance company can reject the claim only if the insurance company has cancelled the policy for such dishonour of the cheque and intimation of such cancellation reached […]

The UT Consumer Disputes Redressal Commission has announced that, if a vehicle is sold to another person and the registration of the vehicle is not transferred to the new owner then no insurance claim can get compensation for the damaged vehicle. Thus, if a person likes to sell vehicle, after the sale, the registration certificate […]

Akshaya Tritiya and Dhanteras are considered auspicious day in Hindu mythology to buy yellow metal – gold. People believe that buying gold on these auspicious days will bring prosperity, good luck, and wealth to them all along the life. Gold shops have stocked much for this key festival for the high demand of yellow metal […]

According to an SBI official, ATM frauds are becoming an organised crime with international linkages for acquisition of hi-tech gadgets and auction of card data. The bank official in an awareness programme on ATM frauds said that these fraudsters procure skimmers to copy ATM card data. The culprits use a pinhole camera on the skimmer […]

The central bank, RBI, which fixes all the policy rates for banks, has made few changes to these rates on 17th April 2012. The details of these policy rates, the new rates and the previous rates are given below. Bank Rate: Bank rate is the rate at which commercial banks borrow short-term loans from RBI. […]

Good news for loan borrowers! A series of rate cuts are on the way as the banks start cutting their lending rates by following Reserve Bank of India (RBI) policy rate cuts. Both public and private sector banks are reducing their lending and deposit rates from Wednesday, 18th April. The RBI reduced repo rate by […]

With the emergence of different types of mutual funds, investors feel difficult to select the right mutual fund scheme, that is, the one that suits their needs best. There are many mutual fund beginners who started investing without having proper knowledge. These people consider investing just by seeing newspapers and magazine ads that present the […]

Considering the pricing situation in the coming months, RBI said that inflation will remain sticky at current level of around 7% in 2012-13. This could be mainly due to high oil prices, increase in tax rates, wage pressure and structural hindrances to supply response. RBI reports that GDP growth is likely to moderate in 2012-13, […]

Good news for home loan borrowers! The Reserve Bank of India (RBI) asked banks not to levy pre-payment charges on home loans taken on floating rates. Though some banks have voluntarily abolished penalties on pre-payment on their floating rate home loans, RBI announced its policy proposal in order to ensure uniformity across the banking system. […]

This is indeed surprising news for banks, home loan borrowers and the auto market. The Reserve Bank of India (RBI) has cut interest rates for the first time in three years by 0.5% to provide relief to borrowers and boost economic growth. RBI reduced the short-term lending (repo) rate to 8% from 8.5% and the […]

“Man Because he sacrifices his health in order to make money. Then he sacrifices money to recuperate his health. And then he is so anxious about the future that he does not enjoy the present; the result being that he does not live in the present or the future; he lives as if he is […]

How many of you have thought of buying term insurance and were told to opt for money back policies? Well, in spite of all this misguidance, some of you might have strongly decided to take term life insurance. But, how many of you are still chasing the insurance agents to fill the form, to get […]

It is not always that lack of knowledge is a factor for not taking care of money properly. Most people are lazy about how they handle money. We will touch upon some money mistakes people make, whether they are rich or not. Keeping large amounts in savings accounts, which earn less than 4% p.a. This […]

Having a planned personal budget and following it daily will surely help you meet your financial needs. Personal budget is a tool that helps you have control over your money. It gives an idea of how much you can afford for your various needs. It will enable you to determine whether a certain purchase will […]

Many earning individuals confuse with regard to their finances. This is especially so in early stage of your career. You don’t understand what to do with your surplus-income. Many people are in dilemma, whether to start with a savings plan or to buy insurance. In such a case, this article will help you understand what […]