Archive for November, 2012

Income Tax Dept Upgraded its e-Filing Website

Friday, November 30th, 2012

The e-filing website of income tax gets a makeover with a better look and more features. The income tax website of India – www.incometaxindia.gov.in now allows taxpayers to prepare their tax returns online apart from the previous tax forms. The e-filing website enables taxpayers to skip tax-intermediary websites that charge some money for accessing their […]

Posted in Developments, Smart Living | No Comments »

Banks Not to Give Loans for Purchase of Gold: RBI

Thursday, November 29th, 2012

The Reserve Bank of India (RBI) has directed banks not to give loans to people for buying gold. In its notification, it asked banks not to grant advances against gold bullion to dealers or traders in gold. The move aims prevent people from indulging in speculative activities. Banks are, however, allowed to provide loans for […]

Tags:
Posted in Developments, Smart Living | No Comments »

Tax Payments in Delhi Can be Made at All Public, Selected Private Sector Banks

Monday, November 19th, 2012

In order to avoid last minute rush at tax payment counters, RBI asked all public sector banks including State bank of India and selected private sector banks such as ICICI, HDFC, IDBI and Axis Bank in New Delhi to accept tax payments. RBI in a press release says, the tax payers often rush towards the […]

Posted in Developments, Smart Living | No Comments »

Emergency Cash Gives You Mental Peace

Saturday, November 17th, 2012

Human life is uncertain. We never know when there will be an urgent need for money. Money in pocket gives you confidence and makes you feel more confident to face unexpected events. Once people understand the concept of emergency cash and its ability to offer mental peace, they most likely will start setting aside emergency cash.

Posted in Save, Smart Living | No Comments »

Banks to Give Home Loans with Lower EMI, Long Term: RBI

Wednesday, November 14th, 2012

The Reserve Bank of India, in its draft report suggests banks to introduce home loans with lower EMIs and higher repayment period of up to 30 years. Further, there should be a provision of re-fixing the interest rate after a period of 7-10 years for long-term fixed rate home loans. At present, most banks offer […]

Tags:
Posted in Developments, Smart Living | No Comments »

Public Sector Insurers to Set Up a Common TPA to Settle Medical Claims

Wednesday, November 14th, 2012

A common Third-Party Administrator (TPA) is to be set up by state-run general insurance companies for settling medical claims. The claims ratio (ratio of claims to the premiums earned) of state-run general insurance companies in health insurance segment is over 120%. And these insurers are blaming third-party administrators for spiralling losses in this segment. The […]

Posted in Developments, Smart Living | No Comments »

EPF Subscribers may Get 8.8% Interest for 2012-13

Wednesday, November 14th, 2012

The Employee’s Provident Fund Organisation (EPFO) is likely to announce 8.8% interest on retirement savings for the year 2012-13 which is significantly higher than 8.25% set for the previous financial year 2011-12. According to a senior official of EPF, due to the tremendous pressure and expectation from EPFO, it can take up to 8.8% to […]

Posted in Developments, Smart Living | No Comments »

India, World’s Top Ranked Country in Terms of Life Insurance Density: WEF

Wednesday, November 14th, 2012

The World Economic Forum (WEF) in its latest report reveals that, India is the world’s top ranked country in terms of life insurance density. The WEF report shows that, India ranked 40th in terms of overall financial development globally, but it is better than many other larger economies like United States, United Kingdom, Japan and […]

Tags:
Posted in Developments, Smart Living | No Comments »

Indian Millionaires to Increase by 53% to 84,000 by 2017: Credit Suisse

Tuesday, November 13th, 2012

According to a global wealth report by Credit Suisse, Indian millionaires are expected to increase by 53% to 84,000 by 2017. The report reveals that, number of Indian millionaires in emerging economies are expected to jump substantially in the next five years. Further, it shows that China would see its number of millionaires double to […]

Posted in Developments, Smart Living | No Comments »

Home Loans May Increase to 20% this Year: NHB Chief

Tuesday, November 13th, 2012

National Housing Bank (NHB) plans to disburse an amount close to Rs 17,000 crore as refinance fund to banks and housing finance institutions in 2012-13. According to the Chairman and Managing Director of NHB, it had disbursed about Rs 14,400 crore in the last fiscal 2011-12. NHB is the apex bank for regulating and supervising […]

Posted in Developments, Smart Living | No Comments »

I-T Department’s Website Not Accessible for Six Days: Income Tax Dept

Tuesday, November 6th, 2012

Income tax department’s website www.incometaxindiafiling.gov.in will not be accessible for 6 days from 3rd November 2012 as the website portal is being upgraded to provide more facilities like help desk. The Central Board of Direct Taxes (CBDT) says, current e-filling website is going to get new structure with a new e-filing website with additional services. […]

Posted in Developments, Smart Living | No Comments »

Group Life Insurance Policy Purchases Rise Over Last 3 Years

Monday, November 5th, 2012

Individual purchase of life insurance policies has been found low over the last three years, while group purchase of life insurance policies, particularly those involving a single premium payment are on the rise. Over the past 3 years, group single premiums are the only category where the life insurance business witnessed sustained growth. There were […]

Posted in Developments, Smart Living | No Comments »

Most Retail Investors Stick to Equity Mutual Funds : CRISIL

Monday, November 5th, 2012

The research report of rating agency CRISIL shows, over 60% of retail investors have stuck to their investments in equity mutual fund schemes for more than 2 years. It further shows, of the total Rs 1.4 lakh crore of retail investment in equity mutual funds, Rs 85,000 crore investment is continuous for over 2 years. […]

Posted in Developments, Smart Living | No Comments »

EPF Subscribers to Get 8.6% Interest in 2012-13

Friday, November 2nd, 2012

Over 5 crore subscribers of retirement fund body Employee Provident Fund Organisation (EPFO) may likely to get 8.6% interest on their investment in this fiscal. EPFO had paid 9.5% interest in 2010-11 and dropped interest rate to 8.25% in 2011-12, now it is working on income estimates and planning to provide an 8.6% return for […]

Posted in Developments, Smart Living | No Comments »

RBI Proposes to Simplify KYC Norms to Make Banking Easy for Customers

Friday, November 2nd, 2012

The Reserve Bank of India has announced a few measures including simplifying KYC (know Your Customer) norms, to make banking easier for the common person. The banking sector regulator in its report says, it will introduce a pilot project using Aadhar data to authenticate banking transactions at all merchant terminals and ATMs. This project will […]

Posted in Developments, Smart Living | No Comments »

SEARCH

Pages