Developments

Ashoka Gold Coins

Gold has been widely used throughout the world for various purposes either for investment or to make ornamental jewelry. As a part of Gold Monetisation Scheme, the Ashoka Chakra gold coin was launched in India on November 5th, by the Prime Minister of India Shri Narendra Modi. The main objective behind releasing these coins is […]

Ways to Maintain Healthy Credit Score

Maintaining a healthy credit score helps you in enjoying the benefits of lower interest rate on credit cards and loans. For this you need to track your spending, keep a check on credit limit, save your funds, pay the minimum amount and focus on timely payment. A healthy credit score keeps your interest costs to a minimum.

SCORES Facilitated by SEBI Works Well in Solving Investor Complaints

With the new mechanism SCORES (SEBI Complaints Redress System) launched by market regulator SEBI in 2011, the investor grievance redressal had improved significantly during the first eight months of the financial year 2012-13. SCORES, a web-based centralised system enables investors to lodge complaints through website www.scores.gov.in against a listed company/intermediary registered with SEBI. The system […]

LIC Performs Better in Claim Settlements than Private Life Insurers : IRDA

According to latest report of Insurance regulator IRDA, claim settlement ratio of Life Insurance Corporation (LIC) appeared better than that of private life insurance companies. LIC found to be better at paying death claims. While LIC is the only state-run life insurance company in the market, there are about two dozen private insurers providing life […]

Mediclaim Policies to Become Costlier Next Year

The price of mediclaim policies to go up next year, if the insurance regulator IRDA accepts the plea of General insurers (both private and public sectors) which are facing huge losses with the spiraling health costs. State-owned National Insurance company sought IRDA’s permission to raise health insurance premium by 20-25% on an average as mediclaim […]

Single Document Enough to Open New Bank Accounts : RBI

Good news! RBI has made it easier for the customers to open new bank accounts. Now, banks can accept documents of customers such as Aadhar letter, PAN card, driver’s license, passport as proof of identity as well as address for opening new bank accounts. However, the address on the documents submitted by him/her for identity […]

Soon Auto Insurance Policies to Provide Two-Year Coverage : IRDA

The Insurance Regulatory and Development Authority (IRDA) is planning to provide 2-year insurance term coverage for auto insurance policies. The move will enable vehicle owners to insure their commercial or private vehicles for two-year term at a time and allow the benefit of low premium cost and reduced renewal hassles to its customers. According to […]

New SMS/Email Alert Service From Credit Information Bureau

Credit Information Bureau Experian India planning to come up with an identity theft protection service by sending SMS/email alerts to its customers. The moment when a bank or a telecom company seeks credit information report in your name, you will immediately get an SMS/email alert to your specified contact number/address. According to the Managing Director […]

RBI Extends Deadline for Banks to Issue New Cheque Standards

The Reserve Bank of India (RBI) has extended the deadline for banks to issue new cheque formats till 31st March 2013. It is observed that, almost all banks issue only multi-city or payable at par CTS-2010-standard-cheques at present. Taking into consideration of request for extension from various stakeholders, the RBI has decided to extend to […]

Mutual Fund Industry AUM Touches Rs 7.93 Lakh Crore in Nov 2012: Crisil

Credit Rating Information Services of India Limited (CRISIL) reveals that the Assets Under Management (AUM) of Indian mutual fund industry grew by 3.25% (Rs 25,000 crore) to Rs 7.93 lakh crore in November. According to Crisil, this is the highest month-end assets for mutual fund industry since April 2010. The rise in AUM is due […]

Govt Warns Tax Evaders: Disclose True Income or Face Action

This is a serious warning to tax evaders! The Government has asked tax evaders to disclose their true income or pay advance tax by December 15. If not, they need to be prepared to face action. According to revenue department sources, there is gross-understatement in filing of advance taxes. Only 14.62 lakh assesses whose income […]

Save More in PF, Take Home Less as Salary

Employee Provident Fund Organisation (EPFO) recently issued a circular stating that various allowances paid to the employees, such as educational allowance, food concession, conveyance, medical allowance, special holidays, night shift incentives etc, have to be included in the basic salary and Provident Fund (PF) contribution should be computed against the basic salary. This will result […]

Rajiv Gandhi Equity Savings Scheme Norms Announced by SEBI

The market regulator SEBI (Securities and Exchange Board of India) has announced the norms of Rajiv Gandhi Equity Savings Scheme (RGESS), a government initiative introduced to attract small investors in the capital market. SEBI in its circular announced that, the scheme aimed at encouraging flow of savings in the financial instruments and improve the depth […]

EPF Subscribers Can Access their Account Statements Online

Employee Provident Fund Organisation (EPFO) has launched e-passbook service where 50 million provident fund subscribers can now access their account statements online. The active EPF subscribers can keep track of their retirement fund, get alerts on employer’s contribution every month. EPF subscribers need to view the website http://epfindia.gov.in/ and register online to view their EPF […]

India Tops Fastest Growing Trading Nation: HSBC

According to HSBC global trade forecast, India gained top league of trading nations beginning in 2013 and is expected to retain the fastest growth rate until 2020. With the rising bilateral trade with China and growing consumers’ wealth, India tops as the most confident country with more than 61% of traders expecting growth. The report […]

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