IRDA is currently reviewing the existing Banacassurance model (agency distribution arrangements through banks) and has set-up a seven-member committee to study the subject. Mr Kannan said that the regulator was aiming for an open architecture and added that the tie ups between banks and insurance companies must be operationally feasible, administratively possible and at the… Read More »
Interest rates for NRE deposits having one to two years, two to three years and three years and above tenures have been revised to 3.01 per cent (3.08), 3.10 per cent (3.10) and 3.67 per cent (3.74) respectively
A Foreign Currency Convertible Bond (FCCB) is a type of convertible bond issued in a currency different than the issuer’s domestic currency. In other words, the money being raised by the issuing company is in the form of a foreign currency. It gives two options. One is, to get the regular interest and principal and… Read More »
ULIPs have higher costs associated with it in the initial years because of the policy charges. Also, market fluctuations will tend to provide lower amount of returns as the amount invested would be slightly lesser in the first couple of years in the policy. However, overall charge structure for the term comes down substantially after… Read More »
A Unit Linked Investment Plan (ULIP) is an instrument which combines insurance and investment. A part of the investments are used to provide life cover and the remaining amount is used to make investments in a unit fund. With ULIPs, you can top-up, switch between funds, increase or decrease the protection level during the term… Read More »
Although they are not better than private banks in terms of facilities provided, their interest rates are definitely competitive. For example, the interest rates on auto loans are anywhere less than 5%-7% than that offered by private banks. However, unlike private banks, the documentation process is lengthy and getting a loan approved quickly is rather… Read More »
Apart from the exciting and often tempting credit card offers, have we ever looked at the fine print, the stuff that actually makes the difference between a good and a bad choice? Most probably, not. Here is some information you should always look at before you opt for a credit card.
The most positive take away from the BoP for 2008-09 is the Capital account. The FDI inflows and NRI deposits have shown tremendous growth implying a greater confidence in the Indian economy in the long term and gives us the confidence that we are on the right track albeit slowly. NRI deposits were at 4.3… Read More »
Although the concern of my government and our electoral promises were based on the “aam-aadmi”, I have tried to focus more on the “gaon ka aadmi” (the Rural Indians). Ours is a country of villages and villagers and if there has to be growth we need to make them an integral part of our growth… Read More »
The only specific benefit for the salaried class in the budget is the scrapping of Fringe Benefit Tax. Companies may now be a bit more liberal with the perks offered to their executives. We can expect more on the ESOPS and Superannuation front as now they are free from the implications of the FBT.