Saturday, 31 March 2012

AICPIN for the month of February 2012 is 199

AICPIN or All India Consumer Price Index Numbers for Industrial Workers for the month of February, 2012 is 199 points on the basis of 2001 = 100.  AICPIN for the month of January 2012 was 198 points and now it is increased by one point and stood at 199 points. 

Highest increase of index number in Centre wise index numbers recorded in Puducherry center as 5 points increase and there are 30 centers recorded the minimum increase of 1 point.  The maximum decrease of index number is 5 points which is recorded in Quilon centre and the minimum decrease of one point recorded in 8 centers. But in 17 centers the index number is stable when compare with January 2012.

The All India Consumer Price Index Numbers for Industrial Workers are mainly calculated with the price variation of household items and related charges such as Rice, Goat Meat, Poultry (Chicken), Curd, Snack Saltish, Country Liquor, Refined Liquor, Shirting Cloth (Synthetic), Bus Fare, Auto-rickshaw Fare, Barber Charges, Flower/Flower Garlands etc. Following are the Consumer price index of six major centers for January & February 2012

Centers                          Jan 2012    Feb 2012

1. Ahmadabad       -        192            196

2. Bangalore          -        200             204   

3. Chennai              -        187             186

4. Delhi                    -        181              182

5. Kolkata               -        184              186

6. Mumbai              -        199              200

The point to point rate of inflation recorded on the basis of Consumer price index for industrial workers for January 2012 is 7.57% when 5,32% in January 2012.

AICPIN shows the cost of living and the Dearness Allowance to Government Employees is calculating on the basis of Average All India Consumer Price Index Numbers for Industrial Workers for the last 12 months, every time. The recently declared Dearness allowance of 65% is also on the basis of these calculations. 

AICPIN for the month of February 2012 is 199

Related Posts

Friday, 30 March 2012

What does cheap insurance means?

You must have read so much about cheap insurance, cheap life insurance, cheap term life insurance policy, cheapest auto insurance, cheapest car insurance etc. But what do you mean by this cheap insurance. Is it cheap insurance cost or cheapest premium paying insurance? This article try to explain what does the cheap insurance means and what is its reliability.

1. Cheap insurance cost

Insurance cost is what amount you have to pay for keeping your insurance live. It may be life insurance, auto insurance, term life insurance, car insurance, theft insurance and many more insurance. If an insurance policy reduces the total amount payable by an insurance policy holder, it may call cheap insurance. It is not only the low premium payable by you but includes all other expenses as per the terms and conditions of the insurance provider. For example, if you have insured your car and you are not following the norms such as frequent timely servicing and maintenance of your car, you may not get the claim paid, if the company urged you to do so. Then this is also may be considered as the cost of insurance. Maintaining the safety systems and other required arrangements also increase the cost of insurance.

2. Cheap insurance premium

Normally cheap insurance means cheap insurance premium. But cheap insurance premium itself does not mean a good insurance protection. The main objective of an insurance policy is to compensate any uncertain damage or loss of the insured property, person or life. When you go for a cheap insurance premium you must confirm the claim settlement policy of the insurance company also. If you paid for an insurance and getting delay or never happened the claim settlement what doe s the insurance policy means. In case of life insurance, you have insured your life and if any unfortunate event happened to you and if your beloved ones compelled to run from pole to pillar for getting the claim, what does the benefit of cheap insurance means.

 3. Low agency commission

The agency commission also increases the cost of insurance. The insurance company should pay agency commission for its agents for the survival of insurance company. The agent who works for an insurance company must get his remuneration.  But if the insured go for online insurance policy, the agent’s commission can avoid or reduce and can reduce the insurance cost.

When you go for cheapest insurance policy keep these in mind and compare same type of insurance policy with various insurance companies. The comparison must be done in insurance cost, related cost to keep the insurance policy active, claim settlement etc. Then you can enjoy a cheapest insurance policy and cheapest protection.

What does cheap insurance means

Related Posts

Thursday, 29 March 2012

Top performing tax Saving ELSS

You have hardly two days to save income tax through tax saving investments for the financial year 2011-12. As you know investing in ELSS – Equity Linked Saving Scheme (Tax saving mutual fund) has a lock in period of three years and you can get tax exemption, and at the same time you can withdraw money after three years.

Now investing in ELSS (Tax saving mutual funds) are very much easy through your Demat account. With a few mouse clicks you can purchase or sell a mutual fund. So hurry up to invest in tax saving mutual funds and save your tax under section 80C of income tax act which allows you to save up to Rs. 100000 income from income tax.

Following are four top performed ELSS in the last three years in which you can invest to save your tax. In the case of mutual fund it is not necessary that the same performance should continue in future. It may improve or decline in future. But when you invest, it is good to invest in a scheme which has good performance history.  This may be changed a per your risk appetite or investment strategy. This is only information purpose which you may follow or not. When you invest in mutual fund or any such stock market related investments, do your own home work and analyze the financial instrument in your own way and invest only if it is satisfied your norms and financial goals.

ICICI Prudential Tax Plan - Growth

ICICI Prudential Tax Plan (Growth) has a latest NAV of Rs. 133.55 as on 28th March, 2012. This is an open ended Growth fund and completed 13 years since inception of the Mutual Fund.

NAV as on 28 March, 2012      : Rs. 133.55

Category of the Fund                :  Tax Saving Funds

Fund Option                               :  GROWTH

Fund Type                                  :  Open Ended

Benchmark                                 : S&p Cnx 500 Equity Index

Fund Size                                    :  1,336.5 Crores

Fund Age                                    :  13 Years

Lock In Period                           :  3 Years

Last Three years return          :  33%

HDFC Tax Saver Fund – Growth

HDFC Tax Saver Fund  (Growth) has a latest NAV of Rs. 218.31  as on 28th March, 2012. This is an open ended Growth fund and completed 16 years since inception of the fund.

NAV as on 28 March, 2012   : Rs. 218.31

Category of the Fund             :  Tax Saving Funds

Fund Option                            :  GROWTH

Fund Type                               :  Open Ended

Benchmark                              : S&p Cnx 500 Equity Index

Fund Size                                 :  2884.6 Crores

Fund Age                                 :  16 Years

Lock In Period                        :  3 Years

Last Three years return        :  31 %

Fidelity Tax Advantage Fund – Growth

Fidelity Tax Advantage (Growth) has a latest NAV of Rs. 20.71 as on 28th March, 2012. This is also an open ended Growth fund and completed 6 years since inception of the Mutual fund.

NAV as on 28 March, 2012  : Rs. 20.71

Category of the Fund            :  Tax Saving Funds

Fund Option                           :  GROWTH

Fund Type                              :  Open Ended

Benchmark                             : Bse 200

Fund Size                                :  1296.2 Crores

Fund Age                                :  6 Years

Lock In Period                       :  3 Years

Last Three years return      :  27 %

Franklin Taxshield Fund – Growth

Franklin Taxsheild Fund (Growth) has a latest NAV of Rs. 208.66 as on 28th March, 2012. This is also an open ended Growth fund and completed 13 years since inception of the Mutual fund.

NAV as on 28 March, 2012   : Rs. 208.66

Category of the Fund              :  Tax Saving Funds

Fund Option                             :  GROWTH

Fund Type                                :  Open Ended

Benchmark                               : S&p Cnx 500 Equity Index

Fund Size                                  :  870.2 Crores

Fund Age                                  :  13 Years

Lock In Period                         :  3 Years

Last Three years return        :  28 %

There may be other mutual funds also shows a good track record. If you feel so you can choose them also. Save tax as you can and know that it is legal to save tax as per rule. When you pay tax you are saving your land and when you save tax you are also saving your land and yourself. With this saving you can find a source to reach out your financial goals. When the Lock in period of ELSS ends you can withdraw the money or can switch over to more profitable investment schemes.

Top performing tax Saving ELSS

Related Posts

Wednesday, 28 March 2012

Retire with Crores of Money with PPF Investment

Interest rate of PPF account and other small saving deposits increased by a government order on 26th March, 2012 and the same will be effective from 01st April, 2012. The interest on PPF account increases from 8.6% to 8.8%. I am sure that you are aware that the interest on PPF account is not taxable and this will be continuing after the introduction of Direct Tax Code also. You can open a PPF account as your retirement saving and at the same time a tax saving instrument.

An investment of Rs. 100000 every year (which is exempted under section 80C of income tax act) in PPF account can make you a multi millionaire or crorepati when you retire. If you start investing in PPF as early as possible say 25 years or 30 years immediately after you get your first salary, you can retire as a crorepati with this investment in PPF account only.

You can invest up to Rs. 100000 every year in PPF account and the PPF account is for 15 years only. But after 15 years you can continue the PPF for another 5 years and can extent again and again for 5 more years every time.  If you do so you can reach the target figure of  Rs. 1 crore as your retirement saving on the 27th year.

You can stay on in PPF account for another 3 more years to complete the block of 5 years. After completing this 30 years you can withdraw the entire PPF account or can continue for another 5 years.

The following table (PPF calculator) shows you how you can reach your goal, your retirement plan of Rs. 1 crore or more with an investment of Rs. 100000 every year in PPF account. IF you operate PPF account online, it is more convenient for you.

The following PPF calculation (retirement saving calculator) is based with the assumption that you invest Rs. 100000 every year in your PPF account and the PPF interest rate is 8.8% (The new PPF interest which will be come into effect from 01st April, 2012) and there is no interim withdrawal from your retirement plan PPF account and also assumed that the investment is in lump sum in the beginning of each financial year. It is assumed that the PPF interest rate is same for the entire period. This may be changed.

The table shows an investment in PPF account for forty years. But you can stop whenever you feel that you have enough retirement savings. I f you start investing in PPF account at an age of 20 years and your retirement age is 60 years, you can save for the entire forty years. But if your age is 25 years you can save for 35 years only. If you could start investing in PPF only at the age of 30 years your retirement will be after 30 years and this 30 years of investment in PPF is enough to reach you goal of retire savings  of Rs. 1 crore.

For PPF Calculation table Read on Page No. 2

Retire with Crores of Money with PPF Investment

Related Posts

Tuesday, 27 March 2012

Job list of Employment News 24 March 2012

Employment news weekly is to notify government jobs and it is very much useful for those who are looking for a good job placement in Government of India and its related departments and institutions. Employment News 24 March 2012 – 30 March 2012 also has a lot of government job vacancies. Following are the job highlights of Employment News (24 March 2012 – 30 March 2012)

1. Union Public Service Commission conducts Combined Medical Services Examination, 2012 for recruitment of approximately 702 vacancies. Last Date: 23.04.2012

2. Staff Selection Commission notifies Combined Graduate Level Examination 2012 for recruitment to different posts in various Ministries/Departments/Organisations. Last Date: 20.04.2012.

3. Navodaya Vidyalaya Samiti, New Delhi invites applications for recruitment of 532 posts of Miscellaneous Categories of TGTs and Regional Language Teachers. Last Date : 30 days after publications.

4.  Centralised Accident and Trauma Services, Delhi requires 482 Ambulance Paramedic and Ambulance Drivers. Last Date : 30.03.2012.

5.  Army Service Corps Centre (North) Bangaluru invites applications for 22 Group ‘C’ posts. Last Date: 31 days after publications.

6. South Eastern Coalfields Limited requires 200 Security Guards.

7. South Eastern Coalfields Limited requires 54 Staff Nurses, Pharmacists Technicians and Jr. E.C.G. Technicians. Last Date : 10.04.2012.

8. Indo-Tibetan Border Police Force requires 168 Constables (Pioneer). Last Date : 09.04.2012

9. Container Corporation of India Limited requires 114 Sr. Assistant (C&O) and Hindi Translators. Last Date for applying online : 16.04.2012

The abovementioned government job lists are the highlights of employment news 24 March 2012 – 30 March 2012. If you are interested to apply of any of the government jobs, we strongly recommend to read the employment news for more details such as salary scale, how to apply, educational qualification etc.

Job list of Employment News 24 March 2012

Related Posts

Monday, 26 March 2012

Mutual Fund Guide, a comical cartoon presentation

You must have heard about mutual funds and may be invested in mutual fund. Are you getting enough awareness about mutual fund? What is mutual fund? How it works? Different types of mutual funds. What is NAV of mutual fund? What is investment objective of mutual fund? How do you select mutual fund? Who is fund manager? What is his duty? What is fund house? How do you select a fund house to invest in? Do you have answers for all these questions? Or are you investing in mutual funds blindly? I am sure that you have answers for a few questions about mutual funds. But not have a complete idea about mutual funds.

Here Money Simplified comes with a solution for all your queries about mutual funds with an introduction of Meet “PARIMAN” Your guide for mutual fund investing. This is an introduction to mutual fund investing. This guide gives a complete idea about mutual fund investing and more over that this is an interesting comical representation in cartoon format. One can read it and can understand easily. It narrates all about mutual funds and mutual fund investing.

A story like presentation in mutual fund investing and this is the first time I am reading such a guide about mutual fund. It starts with a discussion between a young father and mother about the future of their daughter and this conversation leads them to an investment expert through their family friend.

The investment expert narrates all about mutual fund, give answers for their doubts and also advice them how to analyze a mutual fund? How to make their financial planning? How to select a fund house? How to determine their investment objectives? And so on.

This conversation goes through the types of mutual funds, fund houses, fund managers, various mutual funds and its objectives. Which mutual fund should be choosing for each type of financial goals etc?

The mutual fund guide also gives us how to select an investment advisor, qualities of an investment advisor, benefit of consulting an investment advisor etc. And the guide points that how to invest in mutual funds. And at last it ends with a direct online investment method, without the help of any investment advisor or any consultant, which reduces paper work and expenses of investing.

This is a must read guide for all investors who wish to satisfy their financial goals with their hard earned money.

Download this mutual fund guide from our Download page

Mutual Fund Guide, a comical cartoon presentation

Related Posts

Sunday, 25 March 2012

Free SEO service to improve your online business

SEO or Search Engine Optimization is a must for the success of all online business. If you have an online business or website, you should optimize your website with visitors and sales. No visitors mean no sales and no money. Just like an offline shop sales will be happened only through visitors.  But for online websites, visitors come through advertisements and search engines like Google, bing, yahoo and all other hundreds of search engines.

SEO or Search engine optimization service helps you to get listed in search engines with there on techniques and technologies. They help you to set approved norms and back links to get enough visibility to search engines. Visitors who visit your website through search engines are targeted visitors and the possibility of sale is higher than other normal visitors.

SEO service is helpful for all types of websites to get good number of targeted visitors. Visitors through search engines are does not increase your operation cost of the website. Because you should not give any paid advertisements for search engine visitors. But you should be listed in the first page of the search engine.

Reach on the first page of a search engine is not easy. You should optimize your webpage with contents and keywords and should be supported with enough back links from other reputed websites. SEO service helps you to get good back links from reputed websites and also help you to optimize your keywords.

SEOprofiler is one of such SEO service allows you to join free and only after getting their service and if you are satisfied with their service you can upgrade for more professional service or can continue with the free service.

SEOprofiler analyze back links and offer other SEO tools for building good and better resulting keywords which is relevant for your website which help you to reach top rank in search engines. This top rank increases your website traffic and increasing traffic brings more visitors and more sales.

An SEO service is must for the success of your website. So take decision to join one good such SEO Service and improve your website sales. No doubt a good SEO service is a good investment for your business.

Join free with SEOprofiler

Free SEO service to improve your online business

Related posts

Free advertisements for your investment needs

  • Free advertisements or free classified advertisements help you a lot, when you want to advertise your investment related matters. Sometimes we want to place ads ...

  • Free Google Webhosting for Small business

    Free Google web-hosting is providing to small and medium business by GOOGLE INDIA, the Indian version of the internet giant, to bring the small businesses online. ...

  • Exiting Black Friday Dsicount offer from Hostgator will be over in 2 hours

    Hostgator, one of the best hosting service in the world, celebrating black Friday with exiting discount offer. Black Friday promotion starts at 12:00 AM Friday ...

Saturday, 24 March 2012

7% D.A from January 2012 Declared

7% Additional Dearness Allowance (D.A) for Central Government Employees, declared on 24th March, 2012 by the Union Cabinet with effect from January, 2012. With this 7% increase in D.A the total Dearness Allowance to the Central government Employees is 65%. Existing Dearness Allowance is 58% of the basic Salary.

Almost all financial websites predicted 7% D.A from January 2012 with the calculation of All India Consumer Price Index Numbers for Industrial workers. Dearness allowance is calculated on the basis of AICPIN – IW.

With this declaration of 7% increase in Dearness Allowance, the pensioners also will get a 7% increase in their dearness relief to compensate the price fluctuations.

The benefit of this new dearness allowance will get around 4 million central government employees and this will cost around Rs. 7500 crore more for central government.

When the Dearness allowance increase the transport allowance also will increase at the same rate. Central government employees will get transport allowance of Rs. 990, Rs. 2640 and Rs. 5280 instead of the existing Rs. 948, Rs. 2528 and Rs. 5056 respectively for various grade pay slabs and this increase also will be from 01st January, 2012.

Dearness allowance gives more monetary benefit than annual increment, because as per 6th central pay commission the annual increment is 3% of basic pay, but every year the additional dearness allowance will be more than 3% and the stepping up of dearness allowance will be twice an year with effect from January and July. The annual increment gives on July every year.

Related Posts
Expected Dearness Allowance from January 2011 and its impact
Recently the Union Cabinet has been declared 45% Dearness Allowance for centralgovernment employees from the month of July 2010. This has been on the ...

7% Dearness Allowance Declared from July 2011
The Union Cabinet today approved 7% Additional Dearness allowance (D.A) with effect from 01st July, 2011 to all central government employees. The existing D.A is ...

6% D.A from January 2011 for Central Government Employees
The Union Cabinet decided to give an additional Dearness Allowance (D.A) of 6% to Central Government Employees and Pensioners. The existing D.A was 45% and ..

7% D.A from January 2012 Declared

Friday, 23 March 2012

EPFO updated EPF account online till 31.03.2011

Employees Provident Fund organization (EPFO) updated Provident Fund account till 31st March 2011. Now each employee (Subscriber) can get their Provident Fund Account balance till 31st March 2011 through your mobile device. Just see how to check pf balance online through step by step instructions.

Please note that use one mobile phone number to know one account balance only, because your mobile number will be registered with your Provident Fund account.  Then using the same mobile number for more than one Provident Fund Account may create technical problem. Now EPFO prompts a warning message in the website where your check your PF Account Balance, if you try to enter same mobile number for more than one PF account.

The facility to know PF account balance through internet and mobile phone is convenient to all subscribers, even if there are some errors happen occasionally. Now the Provident Fund subscribers can know their fund balance easily whenever they want to know it. They can make their financial plans accordingly.

Even now there is some delay in getting PF withdrawal money, we can hope that all these problems will be solved in the near future, when the computerization completes. It would be better, if EPFO allows subscribers to register their name with EPFO website and could apply for withdrawals and transfers online. We can hope that these facilities also will enabled by them in future.

Related posts

Check EPF balance online, step by step guide
Check EPF Balance online The Employees Provident Fund Organisation (EFPO) allows you to know your EPF (Employees Provident Fund) balance online at any time. This ...

Employees Provident Fund Balance- get SMS
The Employees Provident Fund Organisation, India (EPFO) launched a new service to know the Employees Provident Fund (EPF) Balance through SMS for the convenience of its ...

EPF Information through Internet and Mobile
There is a happy news for about 4.8 crore subscribers of Employees Provident Fund Organisation (EPFO) that you can access you Provident Fund (PF) transactions ...

EPFO updated EPF account online till 31.03.2011

Thursday, 22 March 2012

How to reduce your auto insurance cost

Are you aware that you can reduce your auto insurance cost a good percentage? No doubt you are paying a good amount for the insurance of your car or any other vehicles. There are a lot of insurance companies in the market to compete with. But you can choose cheaper auto insurance. Just keep in mind the following points to reduce your auto insurance cost.

1. Good driving habit. This is the first and foremost step to reduce your auto insurance cost. A good track record of your driving history is the best thing to reduce your auto insurance premium up to a certain level. If you are an expert driver with a good driving habit, the possibility of accident is very low and the insurance company is very fond of such ability and will be ready to reduce your insurance premium.

2. Make a good bargain. In this high competing motor insurance field customer is the king. You can get quotes from a few good insurance companies and can bargain for a good rebate. As per your bargain power you can get reduced insurance cost.

3. Share with your friends and relatives. Just share your idea of getting good and low cost auto insurance with your friends and relatives and ask about the auto insurance and the performance of auto insurance companies. You can get ideas from experienced hands and can Select a good company with vide range of research. You should also check the claim approval ratio of each company. Finally find a good insurance provider to insure your vehicle.

4. Insure you second car or vehicle with the same company. Most insurance companies allow a good percentage of discounts, if you insure your second car or second vehicle with the same insurance company. So insure all your vehicles or vehicles of your family members with the same company.

5. Rebate for safety system. You can avail discount or rebate for safety systems in the vehicles. Seat belt, gear lock, theft alarm and such safety systems attract more discounts for your auto insurance policy.

6. Get help of your credit record.  If you have a good credit record you can avail a good discount in your auto insurance also. If you are prompt in paying your utility bills, credit card bills and loans you can have a good credit record and can avail a cheaper auto insurance policy also.

7. Do not take medical cover twice. If you have a good health insurance cover, you should not take another personal medical cover with the auto insurance. This will reduce a certain percentage of your auto insurance cost.

8. Low risk profession.  I f your work is risk free you can reduce your insurance cost also.

9. Car pooling.  If you use car pooling to your work site, you can get a discount for your car insurance.

10. Regular travel with public transport. If you use public transport to reach your work place regularly, you can get a discount for the same.

11. Living away from city. If you stay in village away from rush city, you can reduce accidents and also can reduce your auto insurance cost.

12. Others. Low mileage, no accident history, learn driving from certified driving school, always following safety rules, studying children  away from you etc., can attract a reduction in you auto insurance cost.

If you inform these matters to your insurance company, you can reduce your auto insurance cost or car insurance cost a good percentage and can enjoy a happy driving.

How to reduce your auto insurance cost

Related Posts

Wednesday, 21 March 2012

Changes in Interest rate of P.F & Small Savings

Recently the investors and employees are confused with a few changes in the interest rate of EPF (Employees Provident Fund) , GPF (General Provident Fund), NSC (National Savings Certificate), PPF (Public Provident Fund) and other Small Saving Investments. EPF is mainly for private sector employees. PF contribution from the salary of private employees with the management contribution deposits in EPFO (Employees Provident Fund Organization). GPF is for Government employees. A few recent  declarations make some changes in interest rate of these investments.

Just one day before the union budget the interest rate of EPF account has been reduced from 9.5% to 8.25% for the financial year 2011-12. There is no any reason told for this declaration. There are no any changes in interest rate in bank deposits. A few months before the finance ministry increased interest rate of small savings such as NSC and PPF. But here a reduction in interest rate without any reason is being told. Earlier the interest rate of EPF was 8.5% and the last year it has been increased to 9.5% (1% increase) but now a 1.25% reduction in interest rate and this decision affected around 4.7 crore subscribers.

Another declaration of rise in interest rate of GPF (General Provident Fund), the provident fund of government employees, increased from 8% to 8.6% through a resolution (F.NO. 5(1)-B(PD)/2011) dated 19th March, 2012 ) by the Department of Economic Affairs, Ministry of Finance. The resolution says that interest rate of GPF and other similar funds shall have an interest rate of 8% from 01st April, 2011 to 30th November, 2011 and 8.6% interest rate from 01st December, 2011. The subscribers of the following funds will get this benefit.

The General Provident Fund (Central Services).
The Contributory Provident Fund (India).
The All India Services Provident Fund.
The State Railway Provident Fund.
The General Provident Fund (Defence Services).
The Indian Ordnance Department Provident Fund.
The Indian Ordnance Factories Workmen’s Provident Fund.
The Indian Naval Dockyard Workmen’s Provident Fund.
The Defence Services Officers Provident Fund.
The Armed Forces Personnel Provident Fund.

Today we have noticed news in all dailies for increase in interest rate of PPF & other small saving investments. The government of India is raising interest rate on small saving schemes such as NSC and post office deposits by 20-25 basis points. But the new increased rate will be applicable only from 01st April, 2012. With this increase the investors of NSC and PPF will get an increase of interest rate to 8.8 or 8.9% interest and the existing rate is 8.6% per year.

It seems that bank fixed deposit gets more interest than these small savings and voluntary deposit schemes. Banks give around 9% interest and more for a fixed deposit for 366 days or more. These small saving schemes have a minimum lock in period under certain conditions. But the interest of PF & PPF is tax free and when considered the tax factor these investments get more than bank fixed deposits. These small savings schemes are also attractive with its tax saving nature. An individual with high tax slab can earn more from these small saving schemes.

Changes in Interest rate of P.F & Small Savings Schemes

Related Posts

Tuesday, 20 March 2012

Revised interest rate for Loan to Government Employees

Rate of interest for loans and advances to government employees revised with effect from 01st April, 2011. The lending rate is revised through an office memorandum No.  F.No.5 (3)-B (PD)/2011 issued on 19th March, 2012. Category of borrower, type of loan and revised interest rate per year shows below:-

1. State Governments:

(i) Ways and Means Advances (Recoverable within the year)   - 9.00%

(ii) Other Loans - 9.50%

2. Union Territory Governments (with Legislature):

(i) Loans upto 1 year   - 9.00%

(ii) Other Loans    - 9.50%

3. Industrial and Commercial Undertakings in the Public Sector and Cooperatives.

(i) Investment loans  - 11.50 %

(ii) Working Capital loans and loans to meet Cash losses   - 13.50%

(iii) Loans for implementation of VRS in sick PSUs   - 11.50%

4. Financial institutions in the Public Sector, Port Trusts, KVIC, NHAI, Municipal Corporation of Delhi, Commodity Boards, Social Service Institutions, Individuals, etc.

(i) Rural Electrification Corporation:

(a) For Minimum Needs Programme (M.N.P.)   - 10.00%

(b) Others  - 10.00%

(ii)  National Bank for Agriculture and Rural Development (NABARD) and National Cooperative Development Corporation (NCDC)   - 10.00%

(iii) National Highways Authority of India (NHAI) and Port Trusts    - 10.00%

(iv) Others  - 11.50%

These interest rates are with the assumption of timely payment of loan. There is no any additional rebate allowed for those who pay back the loan in time.

Repayment period of Loans & Advances

Repayment period should be fixed and also should be minimum possible duration. No loan will be granted for more than 10 years in normal condition. The prior permission of the budget division of the department should be necessary for a repayment period more than 10 years.

Repayment of loan should commence from the first anniversary date of the loan or expiry period of moratorium.

Get more details and application form 

Revised interest rate for Loan to Government Employees

Related Posts

Monday, 19 March 2012

Job Highlights of Employment News 17 March 2012

Employment News 17 March 2012 – 23 March 2012 is published with a lot of government job vacancies. Those who wish to get a good government job must read employment news every week. This weekly is being published by the Ministry of information and broadcasting, to inform government job vacancy to public those who seek government job. The weekly gives all relevant details about the job vacancy and related matters. Following are the job highlights of employment news 17 March 2012 – 23 March 2012.

State Bank of India requires 9600 Clerical posts (Assistant) and Stenographer (Hindi/English) in Clerical Cadre. Last Date for online Registration 26.03.2012.

Kashi Gomti Samyut Gramin Bank Varanasi requires 108 Officer MMG Scale-III-Group ‘A’ Officer MMG Scale-II-Group ‘A’, Officer JMG Scale-I Group ‘A’. Last Date for online Registration : 04.04.2012.

Reserve Bank of India invites applications for 13 posts of Security Guards. Last Date : 16.04.2012.

Public Service Commission Uttar Pradesh invites applications for 945 various posts in various Departments. Last Date : 17.04.2012

Airport Authority of India requires 558 Deputy Company Secretary/Deputy General Manager, Manager and Jr. Executives. Last Date for online Registration: 01.04.2012.

Indian Army invites applications from male candidates for recruitment of 182 Havildar Education in Group ‘X’ and ‘Y’ in the Army Educational Corps. Last Date: 20.04.2012

Naval Dockyard Visakhapatnam requires 97 Charge man-II (Technical). Last Date : 30 days after publication.

Aeronautical Development Authority, Bangalore invites applications from 47 Scientists/Engineer ‘F’, ‘E’, ‘D’ & ‘C’. Last Date : 15 days after publication.

Institute of Banking Personnel Selection notifies Common Written Examination (CWE) for recruitment of Probationary Officers/Management Trainee in 19 Public Sector Banks. Last date for online Registration : 30.030.2012.

The abovementioned job listings are the job highlights of employment news 17 March 2012 – 23 March 2012. If you are interested in any of the job vacancies, we strongly recommend to refer the current employment news for more details such as application procedure, qualification, salary scale, method of appointment etc.

Posts Related to Job Highlights of Employment News 17 March 2012

Sunday, 18 March 2012

8 Positive income tax changes in the budget 2012-2013

The most awaited budget presentation is over and all are with confusion that what budget gives them and what budget 2012-2013 taken back from them. What income tax benefits provided in the budget. Does this budget empty their wallet or make the wallet fattier one. No doubt, budget has given some positive and negative changes in income tax matters. Here we can go through 8 positive changes recommended in the budget 2012-2013 in present income tax matters.

1. Increase Income Tax exemption limit. This is the important change in the budget for common man who has to pay income tax from their earnings. The Income Tax exemption limit increased to Rs. 200000 from the existing limit of Rs. 180000 for men and Rs. 190000 for women and the finance minister declares the gender equality by fixing the same income tax limit for both men and women. 

2. Changes in Income Tax Rates. There is a change in income tax slab and income tax rates only for personal income tax, not for corporate tax. 10% Tax for income from 2 Lakh to 5 Lakh and 20% tax for income from 5 lakh to 10 Lakh and 20% tax for income more than Rs. 10 Lakh. In case of senior citizen and very senior citizen the basic exemption limit remains unchanged as 2.5 Lakh and 5 Lkah respectively. The existing rate is 10% from 180000 (190000 for women) to 500000 income and 20% for income between 500000 to 800000 and 30% for income more than 8 lakh. 

3. DTC postponed. In the last budget (Budget 2011-12) finance minister declared that DTC (Direct Tax Code) would come to effect from the financial year 2012-13. But the implementation of DTC is postponed. We can confirm this as a positive one only when the DTC implemented. But the tax exemption for Equity related small savings (ELSS - mutual fund with 3 years lock in period) will continue till when DTC implemented and so we can consider it as a positive impact. 

4. Income tax exemption for Saving Bank Interest. There is an exemption for the interest received from savings bank account up to Rs. 10000. So the employee who has an income less than Rs. 5 Lakh is not necessary to declare his interest to the employer for getting exemption from filing income tax return. 

5. Health checkup cost excluded up to Rs. 5000. You can get exemption of Rs. 5000 under section 80D for health check up expense. This can pay by cash or cheque. But this is included in the Rs. 15000 exemption of medical insurance under section 80D. 

6. 50% exemption for Rajiv Gandhi Equity Saving Scheme. The budget offers another income tax exemption up to Rs. 25000 for an investment up to Rs. 50000 (50% exemption) in the new Rajiv Gandhi Equity Saving Scheme. This may be like an ELSS with a lock in period of 3 years. But the exemption is restricted to the income tax payee whose income is less than Rs. 10 Lakh. The details are still expected. This may give an additional tax exemption for those who are eligible for the benefit.

7. The age of senior citizen is 60 for all income tax purpose. The existing age of senior citizen is 65 for income tax purpose except for income tax rates. But now the age of senior citizen is fixed as 60 years for all income tax purposes.

8. No advance tax for senior citizens. As per the budget proposal 2012-13 the senior citizen those who have completed the age of 60 in a particular financial year should not pay advance tax if the gross total income does not include income from business. This will give a relief to senior citizen. 

All the above budget recommendations are positively and directly affect the common man. With these positive changes there is some relief to common man through this budget 2012-2013.

8 Positive income tax changes in the budget 2012-2013

Related Posts

Friday, 16 March 2012

New Income Tax Rates as per Budget 2012-2013

Pranab Mukherjee, Union Finance Minister, Presented Budget 2012-2013. In this Budget Proposal the Finance Minister allows to raise the personal income tax exemption limit for individuals up to Rs. 200000. The present limit is Rs. 180000 for men and Rs. 190000 for women. There is a relief of Rs. 2000 Income Tax and its education cess.

The 20% Tax slab also increased to Rs. 1000000 from the existing Rs. 800000. At the same time there is no tax for interest up to Rs. 10000.

The following are the new income tax rate as per new budget 2012-2013 for men and women.

Income                                                          Tax Rate

Up to Rs. 200000                                             Nil
From Rs. 200001 to Rs.500000                   10%
From Rs. 500001 to Rs. 1000000                20%
Rs. 1000001 and above                                  30%

New Tax for Senior Citizen with the age between 60 years to 80 years

Income                                                          Tax Rate

Up to Rs. 250000                                             Nil
From Rs. 250001 to Rs.500000                  10%
From Rs. 500001 to Rs. 1000000               20%
Rs. 1000001 and above                                 30%

New Income Tax Rate for Very Senior Citizen (80 years and above)

Income                                                          Tax Rate

Up to Rs. 500000                                             Nil
From Rs. 500001 to Rs. 1000000               20%
Rs. 1000001 and above                                  30%

Tax benefit at a glance as per new budget 2012 -2013

1.Tax Exemption limit increased from Rs.180000 to Rs.200000
2. Tax Exemption for interest income up to Rs. 10000

With these slight changes in Income tax levels the Union Finance Minister try to console the normal tax payers. But the increasing inflation devalues these exemptions.

Thursday, 15 March 2012

Budget 2012-2013 Updates & Highlights

Today 16th February 2012, The Finance minister presents Union Budget 2012 -2013. The Updates of the budget 2012 -2013 is shown below. In this budget there are few more expectations such as hike of income tax expectation limit, Introduction of DTC (Direct Tax Code) etc. Following are the headlines of Budget 2012-2013. These Updates are from Major dailies such as Times of India, Hindustan Times,The Hindu and Major Financial Websites and News wesbsites

Wednesday, 14 March 2012

Highlights of Railway Budget 2012-2013

Union Railway Minister Dinesh Trivedi presented Railway Budget 2012 -2013 in parliament today. Ticket rate increased from 2 paise per k.m to 30 paise per k. m for various classes. The budget planned an outlay of Rs. 60000 crore in the fiscal year 2013. This year around 19000 k.m railway track will get modern form. Around 10% of the total amount allocated for infrastructure is for railway tracks. The railway minister claims that there is no steep increase in fares. The main focus of the railway budget 2012-13 is for safety, consolidation, Decongestion & Capacity development, Modernization and improve operating ratio. The railway budget expects an operating ratio of 84.9%. Following are the highlights of railway budget 2012-2013

Highlights of Railway Budget 2012-2013

Hike in Railway Ticket Fare: Railway budget 2012-2013 proposed to increase fare charges and the passenger fare hike is first in 10 years. Through this fare hike the railway minister expect an increase of passenger revenue 28,360 crore in 2012-13. The total expected passenger revenue for the year is Rs 1, 32,555 crore. This includes Rs. 3,673 crore from an expected 5.4% increase in passenger for the year.  Hike in railway fare for various classes as follows:-

10 paise per km increase in AC Chair Car, AC III Tier and First class

3 paise per k.m increase in Second Class fares of Mail and Express trains.

5 paise per k.m increase in Sleeper Class

2 paise per k.m increase in suburban and ordinary second class trains.

15 paise per k.m increase in AC II tier fares

30 paise per k.m increase in AC 1st class fares

Hike in Platform ticket rate: Platform ticket charge also increased from Rs. 3 to Rs. 5.

Proposal of New Concessions: The railway budget 2012-13 considers concession to various categories as follows:-

Concession will be given to Arjuna Awardees in Rajdhani Express

50% concession in AC coaches for patients of Sickle Cell Anemia etc.

Introduction of New Trains: In this Railway budget the railway minister made proposal for 75 new express trains and 21 new passenger trains.

75 new services in Mumbai

Special Train Guru Parikrama to run through Amritsar, Patna, Nanded routes

More Freight revenue: Railway expected to earn 30% more freight revenue in 2012-13 which amounts Rs. 89000 crore.

Modernisation of production unit: Railway budget 2012-13 plans to modernize the production units.

Safety measures: One of the prime objectives of railway budget 2012-13 is safety. Railway minister said that 80,000 persons were recruited in 2011 to fill up safety and mechanical vacancies. Finance Ministry gives Rs. 3,000 crore loan to railway to meet urgent safety needs and the amount to be returned in the year 2012-13 itself.

Planned to minimise human error and give proper rest period.

Railway Plans to introduce three training centers for training in disaster management.

Proposal to invest Rs. 39110 crores to modernise signaling system.

Special amenities:

DRDO developed bio toilets under test and 2,500 coaches to be equipped with bio toilets.

Plan to complete Delhi-Jaipur-Ajmer-Jodhpur high speed corridor.

Special design coaches have earmarked wheelchair-borne and differently abled passenger coaches and one suchl coach in each train.

Railway will take all efforts to maintain hygiene and cleanliness in trains and stations. Specialized house-keeping bodies will be formed for keeping hygiene and cleanliness.

Improve design for helping passengers.

The rail budget allocate for passenger amenities from Rs 762 crore to Rs 1,112 crore in 2013.

700 k.m railways will make double track.

Planning to introduce Double decker container trains.

Introduction of Satellite based real-time information of trains to update passengers on all running trains in next 18 months.

Considering Wait listed passengers: The railway budget 2012-13 consider wait listed passenger more as follows:-

Extension of house keeping, mobile booking, and alternate train accommodating system.

Introduction of escalators, book a meal, AC lounge to accommodate passengers.

Co-operation with state governments: The railway minister requested to State Governments to come forward to share the cost to facilitate early completion of projects. Following projects will establish with the support of various state governments.

31 projects of over 5,000 km being implemented with the support of state governments.

Propose to set up rail connectivity to Nepal from Bilaspur and Agartala to Akhaura in Bangladesh

New line planned to Nepal from Bilaspur,  to Nepal from Bihar

Eestablish a plant of traction for high horse power to be set up in Vidisha in Madhya Pradesh

Rail coach factory at Palakkad, Kerala

Raebareli coach factory ready for rolling

Task of converting DC to AC to be completed in Central Railways in Pune

Kolkata metro works progressing very well

Proposal to electrify 6,500 km in Udhampura, Srinagar, Baramullah line

Rs 6,872 crores allocated for new lines plan which include all the lines approved by the Planning Commission.

Plan to start coaching complex and terminal in Navi Mumbai

Propose Rs 4,410 core for capacity augmentation works.

New organizations: The following new corporations or organizations will be formed for various activities.

Plan to form Logistics Corporation to handle the last mile service for freight traffic.

Plan to set up Indian Railway Station Organisation to redevelop, maintain stations on the lines of airports.

The abovementioned highlights are from the Railway budget 2012-2013 presented by the railway minister, Dinesh Trivedi in parliament, today. The new budget hopes that the Indian railway will lift up to international quality in near future.

Posts Related to Railway Budget 2012 – 2013 Summary highlights

Monday, 12 March 2012

Employment News Job Highlights 10 MARCH 2012

Employment News (10 MARCH 2012 -16 MARCH 2012) published with a lot a government job vacancies. Employment News is a weekly published by the Publication division of Ministry of Information and Broadcasting. Following are the job highlights of Employment News (10 MARCH 2012 -16 MARCH 2012). If you are interested in any of these job vacancy, please refer the employment news weekly for more details.

1. Union Public Service Commission notifies Engineering Services Examination, 2012. Last Date : 09.04.2012.

2. Union Public Service Commission notifies Indian Police Service Limited Competitive Examination, 2012. Last Date : 01.04.2012

3.Railway Recruitment Boards invites applications for recruitment of 6449 posts. Last Date : 09.04.2012

4. Indo-Tibetan Border Police Force invites applications from male Indian Citizens for filling up 709 posts of Constables (Tradesman) in various trades. Last Date : 26.03.2012.

5. Defence Research & Development Organisation (DRDO) requires 606 Senior Technical Assistant ‘B’, Technician ‘A’ & Administrative & Allied Cadre. Last Date: 09.04.2012.

6. Airport Authority of India invites applications for 359 posts of Junior Executive (ATC) and Junior Executive (Electronics). Last Date : 30.03.2012.

7. South Eastern Coalfields Limited requires 249 Mining Sirdar. Last Date: 31.03.2012.

8. Ordnance Factory, Kanpur invites applications for 185 Group ‘C’ Industrial Establishment/Non Industrial Establishment Employees posts. Last Date : 09.04.2012.

9. 15 Filed Ammunition Depot requires 57 Fireman & Mazdoor. Last Date : 21 days after publication.

16. Safdarjung Hospital and VMMC, New Delhi requires 50 Staff Nurses. Last Date : 30 days after publication.

The abovementioned Job vacancies are the job highlights of Employment News 10 MARCH 2012 -16 MARCH 2012. Kindly go through the present employment news for more details about each post.

Saturday, 10 March 2012

Boost your wealth through small saving Schemes

Small saving schemes is safe investment schemes which assures income and growth of your investment. Most of these are government securities which offer a guaranteed return or growth of your hard earned money. You can select these schemes as per your financial goals. One can fulfill his financial goals with these small saving schemes. The following articles introduce you some small saving schemes and tips for your investment and investment habit.

5 things to plan your retirement life Retirement is also a reality and most people should lead a retirement life.The following 5 things you must plan for your happy retirement life.Continue reading ?

6 Steps to analyze your financial health Analyze your financial health to know where you are. Following six simple steps help you to analyze and realize your financial health and position. Continue reading ?

How to save money with your credit card, 16 tips Keep the following money saving tips which explains you how to save money while you use your credit card. Save money with these credit card saving tips Continue reading ?

Fix your financial goals to be a successful investor If you wish to be a good investor, first identify your financial goals. The list of normal financial goals helps you to identify your own financial goals. Continue reading ?

Axis Constant Maturity 10 Year Fund of Axis Mutual Fund Axis Mutual Fund Launched New Fund Offer Named Axis Constant Maturity 10 Year Fund on 10th January, 2012. This is an open ended gilt fund Continue reading ?

Finance tips & money spending habits for New Year This time we can take some decisions about our money spending habits and financial planning tips which are helpful to secure our financial future.Continue reading ?

Invest in Government of India small saving schemes Government of India small saving schemes helps to promote saving habit of people. Small savings schemes renewed with more interest and more friendly terms. Continue reading ?

GPF (General Provident Fund) interest rate hike There is a demand to increase the interest rate of General Provident Fund (GPF). Government of India recently increased the interest rate of small saving schemes Continue reading ?

More benefits in NSC, PPF, small saving investments There are certain changes in the interest rate, time limit and deposit limit in PPF, NSC and other small saving investments, which is beneficial to investors. Continue reading ?

Boost your wealth through small saving Schemes

Friday, 9 March 2012

How to pay off all your debt?

Debt is really a trap. Once you get in to the clutches of debt you cannot escape from them. This is the old myth of debt. But if you try honestly, you can get rid of all your debts in a short while. Your debts may be from loan, from credit card bills or any other form of debt, but believe that you can pay off all of them. You must have heard of debt consolidation or debt consolidation service which helps you to escape from all your debts. If you wish to get rid of all your debts follow these steps.

1.Know your debts: This is the first step you should do to remove all your debts, just list out all your debts in a paper or diary. It may be credit card loan, housing loan, loan from your friends and relatives, vehicle loan, gold loan, secured loan, unsecured loan, personal loan etc. Whatever may be the loan just know that what do you owe to others.

2.Know the interest rate: The second step is also simple, just add the interest rate of each loan against each item in the list of debt.

3.Know how you pay back the loan: This is another step that you should add with the list that the EMI of the loan or any other method of paying back the loan. You may pay back the loan periodically with interest or just paying off the interest only or when ever is possible you paying it back. Anyway list out the method and amount of each loan payment.

Now you are completely aware of your loan. You know how much you have owed and what the interest rate is or how much additional liability add up with the loan in the form of interest or penalty and the present mode of payment and amount to paying back your debt. Now you can think about how to get rid of all these debts as early as possible.

1.Try to bring down the interest rate: If your payment is prompt, the person or institution may reduce your interest to a certain extent. Just ask them to reduce your rate of interest and they may reduce it to pay back the debt soon. There is no cost for asking them to reduce the interest rate.

 2.Low rate loan for loan payment: Take another loan with low interest rate to pay back your high interest loan. Secured loans offer low interest rate than unsecured loans. So try that way to pay off all high interest debts.

3.Debt consolidation: get help of any debt consolidation service to consolidate and pay back your all loans as early as possible.

4.Classify your loan and pay off: Some loan repayment amount gives you tax benefit. Housing loan is one of them. Try to pay off all other loans and pay off this type of loan at the end.

5.Pay off high interest loan first: If you could pay off all high interest loans with a high priority, you can save a good amount of interest and can pay off other loans easily with the saved money.

 6.Change your spending habit: If you are overspending, just change the habit and spend only for necessaries and give priority to pay off your debts.

7.Keep away your credit card from your wallet: A handy credit card may increase your credit card bill. Keep it away from you to avoid unnecessary purchase.

8.Discuss with your family members: Let all your family members know your debts and this may help you to avoid overspending and also get more ideas to get rid of the loan.

Conclusion: Try all your effort to pay back your entire loan as soon as possible, because it is eating out your income in the form of interest, which is not useful for you. Wish you a happy loan free life.

Posts Related to How to pay of all your debt?

Thursday, 8 March 2012

5 things to plan your retirement life

Have you ever think about your retirement and retirement life. Some people are not interested to think about your death, but death is a reality and everybody should face once. Retirement is also a reality and most people should lead a retirement life. If you plan now, you can enjoy a happy retirement life. But how can you plan your retirement life? The following things you must plan for your happy retirement life.

1.When you retire?

This is the first thing you have to plan about your retirement. If you are an employee, you may have a retirement age. You may be compelled to retire that time as per the organization or office where you work. If you are business man or running a sole proprietorship you have to decide till when you run your business effectively. Here you can calculate how much years left for your retirement. Yes the age of retirement is personal and varies from person to person. But you have to plan your retirement age and time of retirement so that you can plan accordingly.

2.Where to retire?

This may be a little bit catchy, where to retire. Now you are living at the place where you are working or doing your business. But this may not be the place you wish to or have to live after retirement. If you are free to take a decision, you have to plan a quiet, inexpensive place to lead your retirement life. The inexpensive place I mean that some place are very less expensive to live than high expensive city. So select a quiet village, but you must take care of nearness of hospital and health care centers, banks, transport facilities, nearness of your friends and relatives and also have the convenience of some social work which you can spend your valuable time. This is helpful to avoid the loneliness and boring and gives mental satisfaction. Nearness of church, mosque or temple where you can visit daily for you spiritual requirements and meditation is also a must.

3. How much money you need?

This is another important factor you have to decide how much money you need to retire. With how much money you can survive your retirement life. Now you are working or doing business. You have your income to survive. After retirement you don’t have salary or business income. You may have pension or any such related income. But is it enough to lead a retirement life. Retirement life may be inexpensive. But you have to spend for your daily needs and other related expenses. So you must decide how much money you need to lead a happy retirement life. So plan it right now when you are working.  You have to plan it with the consideration of inflation also. So there is a need of a lot of money that time. This retirement calculator helps you know how much money you need for your retirement life.

4. How to save for your retirement?

You must save for your retirement. After finding how much money you need to lead your retirement life, you have to plan how you set apart that money. You can accumulate money with your Provident fund Account or 401K account, Public provident fund or such related saving methods etc. any way you should set apart a portion of money periodically for your retirement needs. In my opinion you do some safe investments for your retirement money. If you are so young you can go for risky investments such as stock exchange or high yielding mutual funds etc. But when you become old, do only safe investments for your retirement plan. Bank fixed deposits are also suitable, if it offer high interest rate.

5. How much diversity need for retirement saving?

You must have heard that do not put all your eggs in one basket. It means diversify your investment to avoid the chances of a complete failure. If one method fails you can gain from another one. But here I advise that do not diversify much your retirement saving. Invest only in safe investment schemes such as Provident fund, 401K, Public provident fund, Bank fixed deposits etc.

I f you find a satisfied answers for all the above questions, you can lead a successful and happy retirement life. Retirement life may be happier with no any tension form business or work and also your children may be in a good position and you must not worry about them. So I wish a happy and peaceful retirement life for all.

Posts Related to 5 things to plan your retirement life

Wednesday, 7 March 2012

Holi Greetings, Happy Holi to All

Holi is the festival of colours. It celebrates in the end of February or beginning of March every year. Holi is an ancient festival of India. Now Holi celebrates almost all parts of India, especially northern part.

Holi is a colourful festival without any social gap and it renews and keeps the sweetness of relation ship


Investment Money


All our readers



a Happy and colourful Holy

Related Posts

Wish you a Happy Deepavali – Make it happy
Deepawali or Diwali is a festival of light which leads us to light from darkness. It is a loving memory of mankind travels from the ...

Diwali Greetings From Investment and Money Matters
Diwali is the festival of lights. It is an occasion for family and friends come together and celebrate the happiness. In this festival season We ...

Happy Easter to all our readers and visitors
The death of Jesus Christ makes us remember the sacrifice of God himself for the mankind and the resurrection assures us the new life after ...

Tuesday, 6 March 2012

Birla Sun Life Gold Fund Launched as a Fund of Fund

This is the time of investment in gold, the precious metal which has an elevating price history. The convenient method of investing in real gold is gold mutual fund or gold exchange traded fund. The investor should not bear the risk of keeping physical gold and at the same time he can get benefit from the real gold. If you have a Demat account, it is more convenient to buy and sell gold easily. Here Birla Sun Life Mutual Fund launched a New Gold Fund Offer named Birla Sun Life Gold Fund. This is an open ended Fund of Fund where you can invest in gold.

Birla Sun Life Mutual Fund Managed by Birla Sun Life Asset Management Company Ltd, one of the top Asset Management Companies. The Birla Sun Life Gold Fund is an open ended fund and the NFO period begins from 01st March, 2012 and ends on 15th March, 2012. The investment objective of the Birla Sun Life Gold Fund is to provide returns that tracks returns provided by Birla Sun Life Gold.

Face Value of the Gold Fund: The face value of one single unit of Birla Sun Life God Fund is Rs. 10 at NFO Period and after the allotment of the Gold Fund the value of single unit will be NAV of the fund.

Opening & Closing date: The Birla Sun Life Gold Fund opened in the market as NFO is 01st March, 2012 and the closing date is 15th March, 2012.

Category of the Mutual Fund: The Birla Sun Life Gold Fund is a Fund of Fund. The major portion of the fund invests in Birla Sun Life Gold ETF.

Minimum Investment: Minimum investment is Rs. 5000 and in multiples of Re. 1 thereafter.

Entry Load and Exit Load: There is no entry load for the Birla Sun Life Gold Fund but an exit load of 2% of NAV will be charged for the redemption or switch over of the fund before 365 days from the date of allotment.

Investment Options: The Birla Sun Life Gold Fund has both dividend and growth plan. The dividend plan is also classified in to dividend payout and reinvestment option.

You can invest either in Lump sum investment or Systematic Investment Plan in Birla Sun Life Gold Fund. Let us see performance of the newly launched Gold Fund of fund. You can buy the Birla Sun Mutual fund physically or online through your Demat account or directly log in to Birla Sun Life Mutual fund Website

Posts Related to Birla Sun Life Gold Fund Launched as a Fund of Fund

Monday, 5 March 2012

Job highlights of Employment News (03 - 09 March 2012)

Employment News is a government of India publication which is published every week with full of Government Job vacancies and job lists. If you are looking for a good government job, employment news is unavoidable. The Employment News (03 MARCH 2012 -09 MARCH 2012) also have a lot of government job vacancies. Following are the job highlights of Employment News (03 MARCH 2012 -09 MARCH 2012). You can select any of them as per your qualification and experience.  

Employment News (03 March 2012 – 09 March 2012)

1. UCO Bank invites applications for Recruitment of 1100 Probationary Officers in JMGS in Generalist Cadre: Last Date : 17.03.2012.

2. Reserve Bank of India needs 1000 Assistants. Last Date : 27.03.2012.

3. Bank of Baroda requires 600 Probationary Officers. Last Date: 10.03.2012.

4. Bank of Maharashtra requires 457 Probationary Officers.                             Last Date : 16.03.2012.

5. United Bank of India requires 450 Probationary Officers. Last Date : 09.03.2012

6. Gurgaon Gramin Bank requires 196 Officer Middle Management Grade Scale III, Middle Management Grade (Scale II), Officer Junior Management Grade (Scale I) and Office Assistant (Multipurpose). Last Date : 15.03.2012

7.Nuclear Power Corporation of India Limited requires 250 Executive Trainees.

8. HQ Western Air Command IAF requires 68 various posts of LDC, ASK, Cook, Lascar S/WALA, Dhobi etc. Last Date: 21 days after publication.

9. Garden Reach Shipbuilders & Engineers Limited requires 66 Officers in different disciplines.Last Date : 26.03.2012

10. Commandant Ammunition Depot, Bathinda requires 46 Mazdoor and Fireman. Last Date : 21 days after publication.
11. Eastern Coalfield Limited, requires 30 Accountants. Last Date : 10.04.2012.

12. National Council for Cement and Building Materials requires 22 Deputy Managers and Assistants in various disciplines.Last Date : 21 days after publications.

13. Cabinet Secretariat requires 21 Trainees Pilot. Last Dated : 30 days after publication.

The abovementioned job vacancies are the job highlights of employment news (03 MARCH 2012 -09 MARCH 2012). Choose a job and apply for the same with all required details. Read the current issue of Employment news (03 MARCH 2012 -09 MARCH 2012) for more details.

Related Posts

Job lists in Employment News 25 February 2012
Job highlights of Employment News 18 Feb – 24 Feb 2012
26 MARCH- 01 APRIL 2011-Employment News Job Highlights

Sunday, 4 March 2012

Muthoot finance secured NCD March 2012 issue

Muthoot finance ltd issues Non Convertible Debentures which double your money in 66 months, a guaranteed 100% growth in 5.5 years. The Secured Non Convertible Debentures with a face value of Rs. 1000 per unit opened on 03rd March, 2012 and the issue closes on 17th March, 2012. Muthoot Finance, the largest gold loan providers in India issues this issue of non convertible debentures in purely Demat mode only. The minimum required investment is Rs. 5000 which is the face value of 5 units. The earlier issue of NCD by them was on 22nd December 2011 to 07th January, 2012. Details of the new NCD are as follows:-

NCD options: There are 4 options for this Muthoot finance secured NCD according to the period of maturity and interest rate. This is for 24 months, 36 months, 60 months and 66 months.

Interest rate: The interest rate of each option of Muthoot finance NCD varies from 13% per annum to 13.43%. For 24 months NCD the interest rate is 13% per annum, for 36 & 60months option the interest rate is 13.25% per annum. For 66 months NCD the interest is 13.43% and it is a cumulative option which the amount will be doubled in 66 months.

Interest payment: For 24 months, 36 months and 60m months NCD the interest will be paid out annually and for 66 months NCD the interest will be accumulated and the total amount will be paid out at maturity. This option offers 200% maturity value of investment. The investor will get double the investment on maturity.

Face value of One NCD: The face value on one unit of NCD in all option is Rs. 1000.

Minimum investment: The minimum investment in this Muthoot finance secured non convertible debenture is 5 units which costs a total amount of Rs. 5000.

Credit rating: the Muthoot finance NCD is rated by ICRA ‘[ICRA] AA-/Stable’ for an amount of upto ` 6,000 Million and CRISIL ‘CRISIL AA-/Stable’ for an amount of upto ` 6,000 Million.

Issue mode: The issue of secured Muthoot Finance NCD is completely on Demat mode and can transact through a trading account.

Redemption amount: The repayment of NCD will be on date of redemption with the face value of investment and any interest left over. For the 66 months cumulative option the redemption amount will be 2000 for each unit of NCD.

Issue size: The issue size of Muthoot finance secured NCD is 2500 million.

Muthoot finance NCD is attractive with the secured high interest rate, but the investor should go through the scheme information document and statement of additional information carefully before investing the NCD. Although it is debt investment with fixed return, the business they are handling, providing gold loan is risky one. You should keep in mind that the old slogan of investment “do not put all your eggs in one nest”– diversify your investment.

Related Posts

Muthoot finance NCD offer double money in 5.5 years

Muthoot Finance Non Convertible Debentures

IIISL Debentures (NCD) at 11.90% interest