With start of new financial year 2012-13, a lot would change from today in personal finance space. Here is the list. Good News: Increased Interest on Small Savings Scheme like PPF, NSC, etc: The government has increased interest rates on post office deposits like PPF, NSC, Fixed Deposit, Recurring Deposit, and Senior citizen Scheme in [...]
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With the recent notification of RBI (Reserve Bank of India) about limiting Non Banking Financial Companies (NBFC) to provide Gold Loan up to 60% of value of Gold Jewellary, it seems now rules of the game would be rewritten. Now, banks might turn out to be better option for Gold Loan borrowers due to following reasons: NBFCs [...]
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Gold has always fascinated us Indians but do you know how prices of Gold have varied in India. I happen to visit RBI website which publishes lots of reports including weekly Gold prices. So here it is 40 Years price history of Gold. Gold Price Trend: If you look at the trends in Gold Price [...]
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Gold loan has become popular form of borrowing in recent years. This is proved by the fact that Banks and non-banks are currently dishing it out at the rate of 1,20,000 new loans a day! At last count, the business was reckoned to be worth Rs 80,000 crore and growing at the rate of over [...]
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There is some good news in terms of Interest you earn on Savings bank account. Till now all the interest income earned from your saving bank was taxable. However Budget 2012 proposes that saving bank interest income up to Rs 10,000 will not be taxed under a new section, 80TTA. This benefit would be available [...]
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If you are looking for investing your money in debt instruments, it’s the right time to do so. RBI (Reserve Bank of India) on March 9, 2012 has reduced CRR rates by 0.75%. This means banks would have more money to lend and so loan rates are expected to go down and so are fixed [...]
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In a recent notification by RBI has called all banks to follow a common method of calculating what constitutes the Home Value. Till now banks used to add stamp duty, registration and other documentation charges to arrive to the final value of your home and then used to sanction 80% – 90% of the same as [...]
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Have you ever wondered how much cost it costs for Government of India to print different denomination notes! Economic times has published the figures today and I thought our readers would love to know Of all the notes minted, Rs 1,000 costs the least, at Rs 3.17 per note. But the five-rupee note, the smallest [...]
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Go Digital! is the buzzword today and most of companies are aggressively going online. Today you can buy books to insurance, everything on net. Thankfully Indian regulators are not behind. Weather you are investor or consumer, you can register your grievances and complaints online and rest would be taken care by regulators. Here’s a brief on [...]
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In a measure that would bring cheers to savings accounts holders, RBI has asked banks to start calculating interest rates on these accounts on daily basis from April 1, 2010. What does this mean for savings accounts holders? Well it means we would be paid more interest on our money in savings account. What is [...]
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