New Minimum Average Balance Guidelines- Must Know Facts

The India’s Central Banking Institution, RBI (Reserve Bank of India) has given the guidelines for levy of penal charges on non-maintenance of minimum balances in savings bank accounts by the customers. These guidelines are a part of First Bi-monthly Monetary Policy Statement, 2014-15 announced on April 1, 2014, regarding ‘Developmental and Regulatory Policies’ proposing certain measures towards consumer protection. RBI said, “In case the minimum balance is …

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Mutual Funds Colour Coding And Its Significance

Many regulatory changes have been made by SEBI (Securities and Exchange Board fo India) with respect to growth of mutual fund industry and investor’s benefits. Mutual fund colour coding is one such example of regulatory changes. Though, this mechanism has not produced desired result, it is aimed to provide investors an easy understanding of the mutual fund scheme in which …

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2014 DDA Housing Scheme Draw Results: Postponed Indefinitely

Updated on 17th November 2014 The wait does not seem to be coming to an end. In fresh developments, DDA has now announced that the draw of lots can not take place on 17th Nov 2014 as well and has been delayed indefinitely. The mock draw of lots is taking much more time (6 to 8 hours) than the expected …

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Bank Loan Closure: Not Taking NOC Might Get You In Trouble

Before entering into dealers showroom for buying a vehicle or property, buyer looks at the interest rates that the various banks offer. Getting car, property or personal loan is not difficult these days, but it could get you into trouble later in life and hurt your CIBIL score (credit history). Closure of bank loan is as important as the opening …

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2014 DDA Housing Scheme Delhi Announced, Details And How To Apply?

2014 Delhi Development Authority (DDA) Housing scheme 2014 has 25,043 flats to be allotted through draw of lots which happen on 29th October 2014. In this scheme, there will be flats across different categories including the economically weaker sections (EWS), MIG, LIG and HIG flats too. The EWS category flats start from Rs. 12 Lakhs, flats for middle class are in …

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2014 Indian Budget Highlights- Income Tax Changes And Announcements

Here are all the important 2014 Indian budget highlights including income tax changes, direct and indirect tax announcements and other economic decisions announced by Finance Minister Arun Jaitley on 10th July 2014. We have included all important topics including Direct taxes like Income Tax, social and infrastructure projects, FDI, Banking reforms, defense and education budget, minorities, education, rural and urban …

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2014 Rail Budget Highlights, Fares And Announcements; Live Updates

Below are the major highlights and key take away from the 2014 Indian Railway budget presented in Lok Sabha by NDA Rail minister Mr. Sadananda Gowda on 8 July 2014. A lot of announcements are related to new trains including bullet trains, women safety and security, revamp rail infrastructure, measures to improve food & hygiene inside trains and FDI. Sadananda Gowda has …

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All about Inflation-Linked Bonds For Indian Retail Investors

Inflation Linked Bonds are basically framed to provide protection against inflation to the investors. They are the best replacement of gold investment, the benefit is that the principal amount also increases with the inflation, through it inflation risk is also minimized. It was first issued in 1780 by Massachusetts Bay Co. In India RBI has designed it with government of …

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Employee Provident Fund (EPF) Interest Rate 2012-13

EPF interest rate is the rate of interest which all the members of EPF gets on there deposits. The Central Government revises rate of interest on EPF scheme every year in the month of March/April depending upon the revenues. Change in interest rate of EPF affects all most 6 Crore people across the country who are part of this scheme. …

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Are Gold Loans The Safest Form Of Loan?

Gold loan is a loan in which money is sanctioned by banks and NBFC’s to the applicant on the basis of the quality of the gold that the person (borrower) owns and is willing to keep as security with bank/ NBFC. Generally, banks can sanction 85% of the value of gold while Non Banking Financial Company (NBFC) can grant only …

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Now Recharge Your Delhi Metro Smart Card Online- Step by Step Guide

If you are a smart card user of Delhi metro than you don’t need to stand in queue to recharge your metro card anymore. This online facility allows you to recharge your smart card anytime anywhere using Debit or credit card. As of now the facility of net banking is not there to top up smart card for Delhi metro. …

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Download Aadhaar Card Online- Step By Step Guide

As we all know, government of India is linking a lot of government facilities/ services with Aadhaar card. Linking these services with Aadhaar card will indirectly makes it compulsory for people to have there Aadhaar number handy to avail any such government services in India. But we have seen lot of people enrolled for their Aadhaar card long back and …

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How To Transfer Or Withdraw Employee Provident Fund (EPF) Online In India?

Daily I receive hundreds of queries related to Employee Provident Fund (EPF) where people keep on asking about the status of there EPF withdrawal request?, Status of there EPF transfer request, there  EPF account balance etc.. Like us, EPFO is also receiving tons of queries and complaints daily. So to deal with, EPFO has stated offering few online services like …

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What Do Banks Do With Our Money To Make More Money?

I think, most of us already know that banks earn money by taking deposits and lending money. In simple terms, banks takes deposits from public and lends to public. The difference in interest rates is what helps them to sustain. For example- I invested a sum of money in Fixed Deposit (FD) in SBI bank for 1 year at an …

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Assessing the Major Retirement Schemes: EPS, EPF, GEPS

A pension is a kind of a retirement plan, where people receive a fixed sum of money on regular basis from a fund to which they and their employer have contributed over the period of their employment. Though many pension plans are available in the market but the most common ones are Employee Pension Scheme (EPS), Employee Provident Fund (EPF) …

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