Be careful about Chit Funds
 Be careful about Chit Funds    (Second mail)   Chit Funds is a more than 1000 years old micro finance instrument used for both borrowing and saving of money at the same time.  The concept of Chit funds in Kerala came into being in the 1800's when Raja Rama Varma, ruler of former Cochin state gave a loan to a Syrian Christian trader, keeping a certain portion with himself for administrative and other expenses. Later, to manage the increasing demand for loans, he ordere...
Common Investment Mistakes
Common Investment Mistakes   Are you investing wisely? Knowing about some common investment mistakes, can help prevent them from happening to you. 1. Investing without a clear plan of action. Many people neglect to take the time to think about their needs and long-term financial goals before investing. Unfotrtunately, this often results in their falling short of their expectations. You should decide whether you are interested in price stability, growth or a combination of these. Determine y...
RFC (Rural Electrification Corporation) Tax Free Bonds
RFC (Rural Electrification Corporation) Tax Free Bonds Rural Electrification Corporation Limited opens its public issue of tax – free bonds of the face-value of 1,000 each aggregating up to a total of 3,000 crores. The income by way of interest on these Bonds is fully exempt from Income Tax under Section 10(15)(iv)(h) of the Income Tax Act, 1961 and shall not form a part of the total income. The issue has 2 investment options – 8.13% (10 Yrs) & 8.32% p.a.(15 Yrs) for investments upto 1 lakh and 7.93...
The Asset Class which NRIs are prohibited to invest
The Asset Class which NRIs are prohibited to invest NRIs are not allowed to invest in Public Provident Fund (PPF) and the Senior Citizens Savings Scheme and Post Office Small Savings Schemes. If and when the accounts office comes to know of the anomaly, the deposit will be returned to the investor, without any interest. As per rules NRIs are not allowed to open Savings, Recurring Deposit, Term Deposit and Monthly Income Scheme accounts or purchase of National Saving Certificates issued by Post Offices. The a...
Tax Free Bond from HUDCO
Tax Free Bond from HUDCO   HUDCO is a public sector firm fully owned by the government for financing of housing and urban infrastructure activities in India. HUDCO today informed that  its public issue of tax-free bonds will hit the market on January 27 with a target of raising up to Rs 4,685 crore. The issue opens on January 27 and closes on February 6, 2012. The bonds, proposed to be listed on the NSE and BSE, would have tax benefits for subscribers under the Income Tax Act, 1961.  The...
IRFC Tax Free Bonds
IRFC Tax Free Bonds – Subscribe Fund raising through tax free bonds gained momentum as the Indian Railway Finance Corporation (IRFC) and HUDCO announced their plans to raise an aggregate of Rs 10,985 crore by way of tax free bonds and in all likelihood they are set to be fully subscribed. NHAI had earlier come out with its tax-free bond to raise up to Rs 10,000 crore and was successfully subscribed. Sources close to the development say that the NHAI bond was oversubscribed 2.5 times i.e. subscribed for Rs ...
Tax Free Bond from Indian Railway Finance Corporation (IRFC)
Tax Free Bond from Indian Railway Finance Corporation (IRFC) Indian Railway Finance Corporation Ltd. (IRFC) is a dedicated financing arm of the Ministry of Railways.  Its sole objective is to raise money from the market to part finance the plan outlay of Indian Railways. The money so made available is used for acquisition of rolling stock assets and for meeting other developmental needs of the Indian Railways. The company has proposed to issue Tax Free Bonds and submitted Draft Shelf Prospectus (Dated January 1...
Reverse Mortgage - An additional source for retirement income
Reverse Mortgage - An additional source for retirement income Have you missed the chance to save enough money for your post retirement?   Is your retirement planning an utter failure?  Are you not getting the expected financial support from your children during your post retirement life?    Are you late in your retirement planning? Don’t worry….  There is a solution, if you own a house.    Please read the full article to understand how you can use the R...
Tax Free Bonds – A better investment option
Tax Free Bonds – A better investment option Please refer my earlier article informing  the launch of NHAI’s tax free bond and I recommend subscribing this bond for those who are falling in the highest tax bracket to maximize the return in their investments in fixed income securities.  As I said in my mail, this bond has been sold like hot cake and it is given to understand that this bond over subscribed to the tune of more than Rs. 20,000 crore.  So tomorrow   (31-12-2011) may b...
8.30% Tax Free Bonds from NHAI
8.30% Tax Free Bonds from NHAI National Highways Authority of India (NHAI) will launch its first ever tax free bond issue of Rs. 10,000 crore.  The issue shall remain open from December 28, 2011 with an option to close earlier or extend up to a maximum period of 30 days.  However, the issue shall remain open for a minimum period of three days.  This issue is likely to be closed on 30th December, 2011 itself due to the expected high demand.  A tax free bond like this is hitting the market after a ...

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