Varishtha Pension Bima Yojana (VPBY) 2017 with 8% guaranteed Pension: Things to know

Varishtha Pension Bima Yojana (VPBY) 2017 with 8% guaranteed Pension: Things to know

The Varishtha Pension Bima Yojana (VPBY) 2017, a scheme unannounced by the Prime Minster  Narendra Modi on new year eve was approved by the cabinet on Tuesday. Post demonetisation banks are slashing interest rate on fixed deposits. Therefore, to guard the interest of the senior citizens (above 60 years of age) in case of falling interest rates, PM Modi announced this scheme with a guaranteed interest of 8 per cent for 10 years The scheme will be launched by Life Insurance Corporation of India on April 1st as per sources….

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12 Financial resolutions for the calendar year 2017

12 Financial resolutions for the calendar year 2017

Here are 12 financial resolutions that can improve your finances in year 2017. As Prashant Patel sat back to assess his financial performance for the calendar year 2016, he realized that he had actually failed to live up to most of the resolutions he had made in the month of January 2016. Of course, the demonetization in November resulted in delays in payments but that was hardly an excuse. Demonetization had happened only in November 2016 and he had done precious little in the first 10 months. He therefore decided…

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Cash Deposits – The line that separates the white from the black

Cash Deposits – The line that separates the white from the black

So what’s with cash deposits after demonetization? Shortly after the announcement the government issues a list of do’s and don’ts and penalties regarding cash exchange and cash deposits. Panic ran rampant across the country as people worried about how they would be able to exchange the cash they had. After the exchange of notes was stopped on November 19th 2016, cash deposits hit a record high in the Jan Dhan accounts and in the accounts of individuals who had no history or previous record of transacting such high amounts. The…

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Gold bond or physical gold: Which is better post demonetisation?

Gold bond or physical gold: Which is better post demonetisation?

“There is a good chance that the government will introduce another tranche of gold bonds towards the end of December or early January. It is best to wait for the issue and buy the bonds if one is interested in gold. SGB are safer and provide a nominal return,” Hareesh V, Research Head, Geofin Comtrade Ltd said. Sarbajeet K Sen Moneycontrol The recent slide in gold may prompt you to think of buying the yellow metal as an investment as the prices may look attractive. Personal finance and commodity experts…

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Demonetisation: Equities remain best bet; avoid exposure to gold, real estate

Demonetisation: Equities remain best bet; avoid exposure to gold, real estate

Domestic equity market has witnessed a slide in recent weeks even as there is widespread expectation that governor of Reserve Bank of India, Urjit Patel, will announce a cut in repo rate in the forthcoming fifth bi-monthly Monetary Policy statement on December 7 to spur growth. Sarbajeet K Sen The demonetisation exercise by the government has created negative impact on asset classes such as real estate and gold, with purchases slowing down in both. Domestic equity market has witnessed a slide in recent weeks even as there is widespread expectation…

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Cash & Demonetization: Payday kicks in, 6 ways to avoid banks crowds

Cash & Demonetization: Payday kicks in, 6 ways to avoid banks crowds

For most Indians, the salary day this month is going to be unlike any other. The reason being the unabated cash crunch due to the demonetization of ₹500 and ₹1,000 notes announced on 8 November. After the demonetization, which ceased the legal tender status of the notes and also introduced new ₹2,000 and ₹500 notes, there has been severe shortage of smaller denomination notes that has resulted in long queues at banks and ATMs. Banks and the RBI have also rationed the cash supply in order to meet the demand….

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Why Indigenous Chit Funds are crying foul over Demonetization?

Why Indigenous Chit Funds are crying foul over Demonetization?

When we talk about the informal economy, we are not just talking about the unorganized wage and labour set-up, but another purely cash-driven business model – the Chit Funds business. Come to think of Demonetization of the ₹500 and ₹1000 currency notes, which is a super – duper move to discipline parallel and black economies; this is one sector that has taken a bleeding blow. The Chit fund business is part of both the organized and unorganized sector. It falls under the so called grey area of the financial system. While…

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Demonetisation: How to manage cash crunch?

Demonetisation: How to manage cash crunch?

Here are some ways you can deal with cash crunch better. Salil Shah, a small businessman who had just landed back in India on November 15th from his visit to Dubai, was shocked by the scene on the streets of Delhi. There were long queues outside ATMs and most of them were already out of cash by 10.30 in the morning. Getting into any bank was virtually impossible as there were serpentine lines outside all banks and your waiting period would have been 5-6 hours. Even after that there was…

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MARKET UPDATE: Ab kya hoga?

MARKET UPDATE: Ab kya hoga?

“Sensex plunges 400 points, Nifty below 7,950” The above headline is taken from the website of the leading business paper and similar headlines are expected to be splattered across all the business newspapers tomorrow. There are many reasons for the dismal performance to the markets of late and most of which has been known to all of us, courtesy – social and main stream media which is getting us live – things that are happening. However, implications of the same and of course the action we plan to take I…

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Demonetization – Cashless or Cash- Strapped?

Demonetization – Cashless or Cash- Strapped?

Demonetization of the 1000/- and 500/- rupee noteswas a massive blow to the black money market in India. Some would call it a move to go Cashless and the right way todiscipline the counterfeit and parallel economies, while some would comment upon it asa temporary stall which does little towipe off corruption and black money.The dailies scream about people queuing outside ATMs and Banks to withdraw their hard earned money, while lauding the Prime Minister’s bold move. We have mixed opinions coming from experts with some of them stating that…

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