AEGON Religare Life Insurance

AEGON Religare Life Insurance launches Money Back Plus Insurance Plan

AEGON Religare Life Insurance today announced the launch of its AEGON Religare Flexi Money Back Plus Insurance Plan. The AEGON Religare Flexi Money Back Plus Insurance Plan is a product aimed at combining certainty along with returns at regular intervals. The plan is targeted at customers looking for a simple insurance plan with guaranteed benefits. [...]
April 9, 2013 0
Gitanjali Group

Gitanjali Group launches Swarna Mangal and Shagun – Jewellery accumulation plan

With festivals like Poila Boishak and Baisakhi around the corner, the Gitanjali Group has launched two unique offers — Swarna Mangal, a gold price protection plan, and Shagun, a jewellery accumulation plan. Under Swarna Mangal scheme, one can book a certain amount of gold at the current price and make systematic payments through various channels [...]
April 5, 2013 0
Birla Sunlife Insurance

Birla Sun Life Insurance launches Vision Regular returns Plan

Birla Sun Life Insurance has launched a traditional participating endowment plan — BSLI Vision Regular returns Plan — which offers liquidity, long-term savings and life insurance benefit. The traditional participating endowment policy offers secured growth on savings and regular liquidity to meet financial objectives of the customers. In the event of the unfortunate death of [...]
April 5, 2013 0
HDFC ERGO

HDFC ERGO has launched Student Suraksha – policy for Students adroad

HDFC ERGO has launched Student Suraksha, a policy for students planning to pursue higher education abroad and even for those who are already studying abroad. This policy can be bought by an individual between 16 and 35 years of age, who is a full-time registered student of an education course outside India. The policy provides [...]
April 5, 2013 0
Axis bank Home Loan

Axis Bank launches special Home Loan Product for Self-employed

The third largest private sector lender Axis Bank today launched a dedicated home loan product for the self-employed. At 1 per cent above the base rate to start with, borrowers will pay higher than the ones in the salaried class, but lower than the going rates in the market, Axis Bank’s head for consumer lending [...]
April 2, 2013 0
Punjab National bank - PNB

PNB cuts fixed deposit rates by up to 2%

Punjab National Bank (PNB) has cut the interest rate on single domestic term deposit of less than Rs 1 crore to 7.50% from 8.75% earlier for maturity period of 180 days to less than one year effective Monday, said the bank in a notice to the Bombay Stock Exchange. Further, interest rates on single domestic [...]
April 2, 2013 0
Timtara.com Charged with Fraud

Timtara.com charged of fraud

He studied electronics at Jadavpur University and worked with three MNCs, but now, 47-year-old Arindam Bose has been arrested by the Economic Offences Wing of Crime Branch for allegedly cheating more than 200 buyers on the online shopping site Timtara.com Bose, who quit his job as vice-president at an Indian white goods firm three years [...]
March 31, 2013 0
HDFC Bank

HDFC Bank Cuts Base rates by 0.1% to 9.6%

HDFC Bank, India’s second largest private sector lender, has decided to reduce its base rate (minimum lending rate) by 10 basis points (bps) to 9.6 per cent. The rate cut will be effective from Saturday March 30, 2013, said people familiar with the development. The private lender is the first bank to reduce its lending [...]
March 29, 2013 0
Mobile Phone Revolution in India

Mobile Phone Revolution in India

Symantec, a computer security firm conducted survey on Mobile Phone Usage in India. Here are some of the findings. There are 860 Million mobile phone subscribers in India Out of this 20 million use Smart Phones Indians are most addicted to their mobile phones in Asia Pacific Reason 69% Indians use mobile phone to connect [...]
March 29, 2013 0
CTS Cheques

Non CTS Cheques can be used till July 31, 2013

The RBI today asked banks to issue new cheque books only under the new format and gave them time till July-end to withdraw the old format cheques. All cheques currently with customers in the old format (non-Cheque Truncation System) will continue to be valid for another four months (the earlier deadline was 31 March), the [...]
March 19, 2013 0
Top Wealth Destraoyers

Top Wealth Destroyers in Last 5 Years

India’s largest real estate firm DLF and companies belonging to the Reliance Group led by Reliance Communications (RCOM) topped a list of local firms whose market value has eroded the most over the last five years in a sharp slide from of the peak of 2008. And the reason? Over-leveraging, changes in government policies, aggressive [...]
March 19, 2013 0
SIDBI

Seed Capital for Small Sector Industries from SIDBI?

I have recently achieved a breakthrough in an area of technology application in the manufacturing sector. I have also received a good response from the concerned stakeholders (end users and customers for the relevant segment). I now want to set up a small manufacturing unit for about 10 lakh. What will be the maximum seed [...]
March 18, 2013 0
inheritance on Bank Account

How Legal Heirs can claim Money in Bank FD with no Nomination?

My mother-in-law expired three years ago without nominating anyone for her term deposit. How can her daughter claim this amount? As per the RBI’s guidelines, if the deceased depositor has not appointed a nominee, banks must adopt a procedure for repayment to legal heir(s) of the depositor, and avoid inconvenience and undue hardship while doing [...]
March 18, 2013 0
Recurring Deposit

How to Pay Tax on Recurring Deposit Interest?

I have a recurring deposit of 40,000 per month for 10 years, with an interest rate of 9.5%. The bank is not deducting tax at source (TDS) on this deposit, whereas tax is deducted annually from my fixed deposits. Do I have to show the yearly accrued interest as ‘Income from other sources’, or is [...]
March 18, 2013 0
RGESS

RGESS – Investors beware, Rampant mis-selling is on

Rajiv Gandhi Equity Savings Scheme (RGESS), the government’s incentive to bring more retail investors into the stock market, is just a few months old, yet some unscrupulous mutual fund (MF) distributors, with the help of select fund houses, have started offering cash payback as high as Rs 7,000 per Rs 1 lakh of investment in [...]
March 18, 2013 0
Pre EMI Tax Benefit

Tax Benefit of pre-EMI of Second House?

I had taken a housing loan in 1998 and constructed flats in Ambathur, Chennai in area of 600 sq ft. I had taken possession of a second house in Trichy in 2013, which I booked at construction stage, for which I had pre-EMI for 6 months. For the tax benefit, will both houses be treated [...]
March 18, 2013 0