Paisa Bazaar https://www.paisabazaar.com/learn Compare & Apply Wed, 18 Oct 2017 07:31:38 +0000 en-US hourly 1 https://wordpress.org/?v=4.7.2 Personal Loan for Festive Season Shopping: Is it a Smart Choice? https://www.paisabazaar.com/personal-loan/articles/20004-personal-loan-for-festive-season-shopping-is-it-a-smart-choice/ https://www.paisabazaar.com/personal-loan/articles/20004-personal-loan-for-festive-season-shopping-is-it-a-smart-choice/#respond Mon, 16 Oct 2017 12:44:04 +0000 https://www.paisabazaar.com///20004-/ The festive season is here and you may be starting to worry about the expenses that it’s bringing – the new clothes, ornaments, gifts, home renovation and other big-ticket purchases. Your mailbox may already be flooded with ‘festival offers’ from banks. A number of banks and financial institutions have come up with attractive deals to […]

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The festive season is here and you may be starting to worry about the expenses that it’s bringing – the new clothes, ornaments, gifts, home renovation and other big-ticket purchases. Your mailbox may already be flooded with ‘festival offers’ from banks. A number of banks and financial institutions have come up with attractive deals to make festival expenses a breeze for their customers. Many lenders have waived off processing fees on home loan, vehicle loan, gold loan, etc. while others are offering ‘Festive Loans’.
 

Festive Loans are a variant of personal loans offered at comparatively low cost  and for a smaller amount. While some banks like to name this product as ‘festive loan’, others prefer to market it as a part of their personal loan offering. These loans are usually offered for a limited amount, say Rs 50,000, which is the reason why banks might be somewhat lenient about the eligibility criteria for festive loans. With such great deals available in the market, it is easy to be enticed into getting a personal loan for your festive season spending. However, is it really a smart choice? Let’s find out.
 

When should you take a Festive Season Personal Loan?

Taking a personal loan to fund your festive expenses does not harm if you have planned for it in advance. It can be helpful in case of big purchases such as appliances, jewellery, etc., the expenses of which cannot be met with your regular income. Small-scale home renovations can also be funded with such loans. Since festive season personal loans are offered at slightly lower interest rates and processing fees, they can be considered as a viable option.
 

Nevertheless, you should keep these two points in mind-
 

Loans last longer than festivities – Unfortunately, loans cannot be passed on to someone else like sweet boxes in Diwali. Once you take the loan, EMIs are inescapable and needless to say, personal loan is one of the most expensive loans. EMI payment will add to your monthly expenses so you must plan it accordingly so that you do not get caught in an endless cycle of debt.
 

All that glitters is not gold – It is extremely easy to get enamoured by that ‘great’ personal loan offer and not look at the other ones available in the market. Look out for the festive season deals by other banks and compare them with the one you have set eyes on. Do not just compare the deals and discounts; consider the overall cost of the loan. For example, 100% waiver of processing fee might look enticing but it is not as good as 1-2% reduction in the rate of interest.
 

What are some other financing options?

Personal loans come with a high interest cost so unless you are absolutely sure you should not use it for discretionary expenses like festive shopping. Instead, you can resort to other options based on the type of expense. Given below are a few of them-
 

Consumer Durable Loans- If most of the items in your shopping list are home appliances, consumer durable loan can be a good idea. These are available at a rate lower than that of personal loan or credit cards. Some Non-Banking Financial Corporations (NBFCs) also collaborate with superstores and brand stores to offer zero-cost EMIs in the festive season. Documentation formalities are also easier thus making festive shopping hassle-free for the customers.
 

Credit Cards- For normal shopping and gifting needs, credit cards happen to be the best. So, if you are planning on making such purchases, keep the credit limit free on your card. The EMIs can be created directly by the retailer or by calling on the customer care number of your bank. Though credit cards also come with interest charges, they can be managed easily with good planning.
 

Here’s a comparative analysis of the above three options-
 

  Personal Loans Credit Card Retail EMIs
Rate of Interest 11%-20%* 2%-3% per month* Zero interest charges
Processing Fee 0%-1%* No Processing Fee No Processing Fee
Borrowing Limit Rs 50,000-1,00,000 As per the available credit limit Up to Rs 1,00,000
 
Limit on Use
Can be used for any purpose Can be used at any online shop or store that accepts credit cards Can only be used for purchasing the products approved by the lender
 
Extra Benefits
 
No rewards or benefits
Reward points which can be redeemed later for benefits  
No rewards or benefits

*Interest rates and processing fees vary from bank to bank and are also subject to change.


Top up Home Loan- This loan is best if you are looking forward to renovate your house and already have a home loan running. Most of the lenders provide top-up home loan facility which can be a good substitute for personal loan. Since you already have a home loan with the bank, there will be minimal documentation. Moreover, the rate of interest on these loans is lower than that on a personal loan.
 

The bottom line is that personal loans for festive season shopping can be a good idea if you need a small amount for a short tenure, says one year. Before choosing a lender, weigh the other available options and then decide.

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Indian Government Saved $9 Billion, Thanks to Aadhaar: Nandan Nilekani https://www.paisabazaar.com/financial-planning/news/19980-indian-government-saved-9-billion-thanks-to-aadhaar-nandan-nilekani/ https://www.paisabazaar.com/financial-planning/news/19980-indian-government-saved-9-billion-thanks-to-aadhaar-nandan-nilekani/#respond Fri, 13 Oct 2017 13:37:24 +0000 https://www.paisabazaar.com///19980-/ The Aadhaar Card scheme rolled out by the Government of India has helped the Indian exchequer in saving more than $9 Billion. The systematic and targeted subsidy delivery system helped in eliminating frauds from the list and has ensured the subsidy amount reaches the beneficiary. This observation was presented by Nandan Nilekani who participated in […]

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The Aadhaar Card scheme rolled out by the Government of India has helped the Indian exchequer in saving more than $9 Billion. The systematic and targeted subsidy delivery system helped in eliminating frauds from the list and has ensured the subsidy amount reaches the beneficiary. This observation was presented by Nandan Nilekani who participated in a World Bank panel discussion on Digital Economy for Development.
 

The system launched by the previous UPA government has been taken to new heights by the current government. More than a billion people have already registered in the system and are benefitting from it. More than half a billion people have already linked their bank accounts with Aadhaar and the government has transferred around $12 Billion value of subsidy into these bank accounts making it the world’s largest cash transfer system.
 

The effects of this Aadhaar is that India has moved ahead in the field of data economy, non-frictional payments, paperless transactions, digital identity verification, etc. India is the only country where paperless transactions can be conducted by more than a billion people using mobile phones considerably reducing the costs and time.
 

As per Nilekani, the World Bank has also done a great job in bringing the concept of digital ID to the ground. When a person has his digital ID, he can be a part of the ecosystem where digitally enabled system can help in making things safer, smarter and time saving.

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Bangalore International Airport to Become Aadhaar-enabled by March https://www.paisabazaar.com/financial-planning/news/19899-bangalore-international-airport-to-become-aadhaar-enabled-by-march/ https://www.paisabazaar.com/financial-planning/news/19899-bangalore-international-airport-to-become-aadhaar-enabled-by-march/#respond Thu, 12 Oct 2017 07:20:41 +0000 https://www.paisabazaar.com///19899-/ Bangalore International Airport Limited (BIAL) has initiated the process to make the Kempegowda International Airport (KIA) fully Aadhaar-enabled to make it easy for commuters to access airport facilities and save time while boarding the flight. The authority has planned to set up Aadhaar-enabled entry points along with biometric boarding systems.   The Times of India […]

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Bangalore International Airport Limited (BIAL) has initiated the process to make the Kempegowda International Airport (KIA) fully Aadhaar-enabled to make it easy for commuters to access airport facilities and save time while boarding the flight. The authority has planned to set up Aadhaar-enabled entry points along with biometric boarding systems.
 

The Times of India reported that the implementation of this plan would be brought into effect by December 2018. However, the first stage would be rolled out in March 2018 and domestic airlines would be brought on-board within the next three months. International airlines would be brought on-board by October 2018.
 

Aadhaar-enabled facilities will allow passengers to get verified in as less as 5 seconds at each checkpoint till they reach the boarding gate. Due to this, the screening time would be reduced to 10 minutes as opposed to 25 minutes that commuters have to spend currently. This will not only provide seamless access but reduce the waiting time considerably.
 

The decision has been taken as a result of the findings of a two-month pilot project conducted in February. As per media reports, BIAL will get a 325-day window for the execution of the project. The process will speed up clearance mechanism and reduce delay at the airport. It will also help to tighten up the security mechanism and help in maintaining time-stamped log for every passenger.

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Government Allocates Rs 2,000 Crores for Setting up Aadhaar Centres in Post Offices https://www.paisabazaar.com/financial-planning/news/19889-government-allocates-rs-2000-crores-for-setting-up-aadhaar-centres-in-post-offices/ https://www.paisabazaar.com/financial-planning/news/19889-government-allocates-rs-2000-crores-for-setting-up-aadhaar-centres-in-post-offices/#respond Wed, 11 Oct 2017 13:08:48 +0000 https://www.paisabazaar.com///19889-/ As per a report by The Times of India, the Government under Prime Minister Narendra Modi has approved Rs 2,000 Crores for setting up Aadhaar Centres in the premises of Post Offices across the nation. This step is aimed at phasing out private contractors from data collection process. A number of complaints surfaced where private […]

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As per a report by The Times of India, the Government under Prime Minister Narendra Modi has approved Rs 2,000 Crores for setting up Aadhaar Centres in the premises of Post Offices across the nation. This step is aimed at phasing out private contractors from data collection process.


A number of complaints surfaced where private contractors have been caught committing petty corruption and frauds. This has also led to alleged leakage of UID data. The Supreme Court, in one of its judgements, had directed the Government to make provisions to protect UID data breach and corruption carried out at private Aadhaar centres.


The Government will open around 15,000 Aadhaar Enrolment and Update centres in Post Offices by March 31st, 2018. These centres will be opened in addition to those centres already operating in banks’ branches. By the end of this year, the Government has planned to open around 5,000 centres in Post Offices.


Even though most of the Aadhaar data was collected by private agencies in the past, the Government had ensured that the data never falls in hands of those agencies. In order to make this process more robust and secure, the Government has arrived at a conclusion that the process can be best handled by Post Offices and Public Sector Banks. These centres will be provided UIDAI-approved machines and personnel would be trained by the agency.


Currently, banks have 2,000 operating Aadhaar Enrolment and Update Centres. More than 15,200 banks are slated to provide Aadhaar facilities by 31st October, 2017. This step would not only ensure improved access for Aadhaar enrolment and update but also extend the reach of UID in remote areas.

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7 Tips to Avoid Splurging on Your Diwali Bonus https://www.paisabazaar.com/financial-planning/articles/19861-7-tips-to-avoid-splurging-on-your-diwali-bonus/ https://www.paisabazaar.com/financial-planning/articles/19861-7-tips-to-avoid-splurging-on-your-diwali-bonus/#respond Tue, 10 Oct 2017 12:28:24 +0000 https://www.paisabazaar.com///19861-/ Diwali is round the corner and most of you must be expecting a Diwali Bonus. While bonuses do bring immense joy, but during the festive season this joy is usually short lived as the money gets spent as soon as it comes. it’s ok to sometimes get swayed by heavy discounts and other alluring Diwali […]

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Diwali is round the corner and most of you must be expecting a Diwali Bonus. While bonuses do bring immense joy, but during the festive season this joy is usually short lived as the money gets spent as soon as it comes. it’s ok to sometimes get swayed by heavy discounts and other alluring Diwali offers but it’s important to know when to stop the buying frenzy. To avoid financial woes in the later months, here are some practical tips that will help you avoid splurging during the festive season:


Tip 1# List-down Your Diwali Expenses


Around Diwali, a host of offers and discounts are available on various products. Due to this, people often end up indulging in unplanned expenses. Such unplanned expenses can disturb your monthly household budget. Before you end up being debt ridden, it is important that you control your expenses. To do so, list-down your Diwali expenses and prepare a budget accordingly.


When listing down the expenses, we tend to include only the fixed expenditures. Ensure that you also consider miscellaneous expenses such as travelling expenses, lunches and dinners during this time with friends and family. Listing the fixed, flexible and miscellaneous expenses will help you prepare your Diwali budget better. The budget that you will fix now will further set a limit to your expenditures and help you to assess and monitor your expenses.


Tip 2# Prepare a Diwali Shopping List


Indians have a set ritual of doing a lot of shopping on every festival.  However, before you spend your hard-earned money mindlessly, prepare a Diwali shopping list. Every item, be it jewellery, new car, clothes, home décor items, sweets, fireworks or any other product that you’re likely to buy for Diwali should be included in your list.


Once the list is prepared, ensure that it lists down only those items that are required. Identify the items that you really require in that month and eliminate the ones that seem unimportant. A well-prepared shopping list will help you stay within the budget and prevent you from being an impulsive shopper.


Tip 3# Make Use of Diwali Offers


Around Diwali, a lot of stores and brands offer exciting offers and discounts. When shopping, make good use of these offers as they will help you save money. If you’re planning to buy electronics or appliances then compare their discounted rates offered at different stores and buy from where you get the best deal. You will also come across exchange offers on various products such as refrigerators and television sets. Such exchange offers are a great opportunity to exchange your old and useless T.V. or cookware for new.
 

You can keep a tab on various deals offered daily in the newspapers, online, and T.V. ads and make a good use of them wherever required. While the Diwali offers are quite irresistible, make sure that you don’t get swayed during shopping. Your purchases should be driven by necessity rather than sale and discounts.


Tip 4# Keep an Eye for Festive Loan Offers


On Diwali, people welcome wealth and prosperity into their homes. Therefore, buying gold and other expensive items such as a new house or a car during this festive season is considered to be auspicious. If you’re planning to buy a car or a house, this is the great season to do so as a lot of banks offer great deals on various types of loans such as car loans and home loans.


By backing your pocket-crunching expenses with loans, you will save a huge chunk of your money, which you can invest, add in your emergency fund or use it for other purposes. Since a lot of banks will be offering attractive deals on loans and credit cards, therefore you must do your research before taking up a loan.


Tip 5# Bargain Wherever You Can


Bargaining is an art and for some it is a sole reason that makes shopping fun. Besides, it is also an effective way to save money. Although negotiating requires a lot of practice, there is no harm in trying. If you’re new to bargaining, here are a few tips for your help:
 

  • Not All Places are for Bargaining

Places such as malls or shopping marts are not ideal for bargaining. However, a local open market like in your nearby has a lot of potential for bargaining.
 

  • Don’t Show Fondness Over the Item You Want to Buy

The dealer will have an upper hand during the negotiation if he/she happens to know your fondness for the item. They will know that since you like the item you won’t haggle much on its price.
 

  • Start Negotiating 30 Percent Lower than the Actual Price

The dealer will not be interested in negotiating if you will hack off 50 percent of the actual price of the item. Instead, start negotiating at 25 or 30 percent of the actual price to get a good deal.
 

  • Be Ready to Walk Away

At times, you can get the best deal when the dealer knows that you’re ready to walk away. Although it is a risky move but the moment you walk away, the dealer loses a sale, which he/she wouldn’t want and thus give in to your request.
 

Tip 6# Reuse and Recycle


If you want to save money and put your Diwali bonus to a better use, you must reuse and recycle things that you already have at home. You can start by reusing the decorative items available at home such as diyas, candles, old fabrics and much more.
 

The diyas that you had bought last Diwali can be repainted to give them a new look. The left-out candles can be melted to make a new one. Similarly, old cotton sarees can be used to make new cushion covers or even suits. Take help from your family, friends and Google to find some more innovative ideas that will help you save money without hampering the festive spirit.

 

Tip 7# Do-it-yourself
 

Festivals are the best time to bring out your creative side to a good use. Through DIY (Do-it-yourself) projects you can make innumerable things for decorating your house while saving money. Instead of buying expensive flowers, candles, vases, lamps from stores and online portals, make them at home.
 

There are various DIY videos on the internet through which you can get new ideas and learn easy ways to make hand-made wall pieces, candles, lamps, vases and various other crafts and items to decorate your home. Similarly, instead of buying readymade sweets from stores, you can prepare them at home for gifting to your friends and relatives.

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Mutual Funds: Ideal for Investing Short-Term or Long-Term? https://www.paisabazaar.com/mutual-funds/articles/19859-mutual-funds-ideal-for-investing-short-term-or-long-term/ https://www.paisabazaar.com/mutual-funds/articles/19859-mutual-funds-ideal-for-investing-short-term-or-long-term/#respond Tue, 10 Oct 2017 12:09:23 +0000 https://www.paisabazaar.com///19859-/ Mutual funds are a great investment option for people who wish to grow their money over a period of time. Whether investors are looking for capital gains or seeking regular income, they can choose to invest in a wide range of mutual funds. No matter what your financial goal is, there is a scheme out […]

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Mutual funds are a great investment option for people who wish to grow their money over a period of time. Whether investors are looking for capital gains or seeking regular income, they can choose to invest in a wide range of mutual funds. No matter what your financial goal is, there is a scheme out there that would be suitable for you.
 
There are different types of mutual funds namely equity funds, thematic funds, index funds, tax-saving funds, debt funds, money market funds, Exchange Traded Funds (ETFs), etc. Through availability of multiple options, investors have the opportunity to choose a scheme that fit their unique requirements of investment tenure and financial goals.
 
Short Term and Long Term Investment – Expert’s View
 
From the point of view of most experts, short term investments are usually those that need to be liquidated within a 3 year period, whereas, any investment held for over 5 years is considered as a long term investment. As per the general rule, staying invested in a mutual fund for a longer period of time has been beneficial to the investor as one can get the benefit of the power of compounding. Compounding of course works best in case one stays invested over a longer period of time. That said, due to the vast array of mutual funds on offer, investors do have the opportunity to take the benefit of short term investments too.   
 
Taxation Rules of Short Term and Long Term Investments
 
The definition of short term vs. long term investment from a taxation perspective depends on whether you are invested in an equity mutual fund or a debt mutual fund. According to existing rules, a short term investment in an equity fund is for a period of 1 year or less calculated from the date of unit allotment. Therefore in case you have held equity fund units for a period of over 1 year from the date of unit allotment, they would qualify as long term investments. In case you redeem or switch your mutual fund units before the completion of 1 year from the date of unit allotment, you are liable to pay 15% tax on profits as short term capital gains. At present long term capital gains i.e. profits from equity investments that have been held for over a year are completely tax free. From a taxation perspective, equity oriented hybrid funds are considered to be equity investments.
 
The definition of short term and long term with respect to non-equity investments such as debt investments is completely different. For debt funds, short term refers to investments that have been held for 3 years or less. In case non-equity investments have been held for over 3 years from the date of unit allotment, long term capital gains rules apply. Short term capital gains on debt funds are taxed as per the investor’s applicable income tax slab. These gains are categorised as income from other sources, added to the annual taxable income of the investor and subsequently taxed as per the applicable slab rate. Long term capital gains of non-equity investments are taxable using different criteria. Profits from long term debt investments are charged a tax rate of 20% on profits if indexation benefits have been availed otherwise the tax rate is 10% on profits if indexation benefits have not been availed.  
 
Mutual Funds Suitable for Short Term Investment
 
If you are investing for the short term over a period ranging from a week to a year, some of the top choices include liquid funds and ultra short term debt funds. Both of these offer returns that are significantly higher than savings accounts, which currently provide interest in the range of 3.5% to 4%. In case of ultra short term mutual funds, the returns can potentially exceed returns of bank fixed deposits even if you are staying invested for only a short period of time. These debt funds feature a unique ability mainly as a result of their investments being made into certain bonds that have a much higher yield as compared to the returns offered by traditional savings options such as fixed deposits. However like any other mutual fund investment, these are subject to market risk hence returns are not guaranteed. In case you are investing for a period of up to 3 years, debt funds such as short term funds and credit opportunities funds might be a better option as these are potentially capable of offering higher returns in the medium term.
 
Mutual Funds Suitable for Long Term Investment      
 
In case you are planning to invest for the long term of around 5 years or even more for retirement planning, experts recommend investing in equity funds such as large cap funds, diversified equity funds and equity linked savings schemes. The benefit in case of long term equity investments is two-fold. Firstly, no tax is payable in case the investment is held for over a year and secondly the power of compounding works in your favour. Historic data regarding equity fund investments show that those staying invested in equities over the long term have significantly greater chance of turning a profit as compared to short term equity investments. It is however worth pointing out that the value of your equity investment will not go up at the same rate during the period you stay invested in the scheme. Some years might feature annual returns of over 20% while during other years the scheme might feature annual returns of 10% or less. However, on an average, those staying invested for a longer term are potentially better placed to make their initial investment grow significantly.
 
The Final Word
 
The flexibility provided by mutual funds as an investment option is near unparallel as you not only get the option of making solid investments for both the short term as well as the long term. Moreover, there is the flexibility in terms of choosing your investment amount starting with a sum as small as Rs. 500 to as high a number as you are prepared to invest. All one needs to do is choose the correct investment instrument for the job. All in all, mutual fund schemes are definitely among the best investment options available to Indian investors from every walk of life.      

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SEBI Takes a Step to Consolidate Mutual Funds Schemes https://www.paisabazaar.com/mutual-funds/news/19844-sebi-takes-a-step-to-consolidate-mutual-funds-schemes/ https://www.paisabazaar.com/mutual-funds/news/19844-sebi-takes-a-step-to-consolidate-mutual-funds-schemes/#respond Tue, 10 Oct 2017 09:55:01 +0000 https://www.paisabazaar.com///19844-/ On Friday, SEBI introduced a circular stating that mutual funds have to sort all schemes under asset categories as per their investment strategies. The aim behind this decision is to make it easier for the investors to choose the right plan from a pile of similar schemes.   The market scrutineer has said that the […]

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On Friday, SEBI introduced a circular stating that mutual funds have to sort all schemes under asset categories as per their investment strategies. The aim behind this decision is to make it easier for the investors to choose the right plan from a pile of similar schemes.
 

The market scrutineer has said that the mutual fund schemes will be classified under five roofs – equity, debt, hybrid, solution-oriented, and other schemes. Further, only one product can be held under one category except index funds, fund of funds, or sector schemes. In equity schemes, there will be 10 sub-categories counting multi-cap, large-cap and mid-cap. In debt, there will be 16 groups. Lastly, the hybrid schemes will have 6 categories. Also, the mutual funds with more than one product under a category will have to change or merge the fundamental feature of the scheme.
 

The Economic Times report also noted that, the market regulator has defined large-cap, mid-cap and small-cap stocks in the circular. Now a large-cap stock will entail the top 100 companies (in terms of market value), a mid-cap stock will be among 101 and 250, and a small-cap stock will involve companies ranking beyond 250.

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Sovereign Gold Bond Scheme Makes A Comeback in Festive Season https://www.paisabazaar.com/financial-planning/news/19833-sovereign-gold-bond-scheme-makes-a-comeback-in-festive-season/ https://www.paisabazaar.com/financial-planning/news/19833-sovereign-gold-bond-scheme-makes-a-comeback-in-festive-season/#respond Tue, 10 Oct 2017 08:13:33 +0000 https://www.paisabazaar.com///19833-/ As per an Economic Times article, the Sovereign Gold Bond Scheme launched in November 2015 to reduce the purchase of physical gold and encourage financial savings through bond purchase is all set to return on October 9, 2017. The Finance ministry has informed that the applications for purchasing these bonds will be sold through banks, […]

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As per an Economic Times article, the Sovereign Gold Bond Scheme launched in November 2015 to reduce the purchase of physical gold and encourage financial savings through bond purchase is all set to return on October 9, 2017. The Finance ministry has informed that the applications for purchasing these bonds will be sold through banks, Stock Holding Corporation of India Ltd., designated post offices and recognized stock exchanges such as National Stock Exchange and Bombay Stock Exchange from Oct 9, 2017 to Dec 27, 2017.

 

This scheme limits your subscription in its bonds at 500 grams per person per fiscal year (April-March) while beginning from a minimum of one gram gold worth of bonds. The Government of India and the Reserve Bank of India will be issuing these bonds as Sovereign Gold Bonds 2017 -18 Series – III and will be denominated in units of one gram of gold and its multiples. To encourage digital payment, the issue price of the gold bonds for buyers subscribing online and paying through digital mode will be Rs. 50 per gram lesser.
 

Source:http://economictimes.indiatimes.com/markets/commodities/news/third-tranche-of-sovereign-gold-bond-scheme-on-oct-9/articleshow/60981235.cms

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Balanced Fund Investments Grow to 50% of Net MF Inflows https://www.paisabazaar.com/mutual-funds/news/19832-balanced-fund-investments-grow-to-50-of-net-mf-inflows/ https://www.paisabazaar.com/mutual-funds/news/19832-balanced-fund-investments-grow-to-50-of-net-mf-inflows/#respond Tue, 10 Oct 2017 08:05:09 +0000 https://www.paisabazaar.com///19832-/ Balanced Funds as sub category of mutual funds have witnessed significant inflows this year and now account for 50% of net mutual fund investments made since 1st January 2017, according to an Economic Times (ET) report. This seems to be in line with the observation that since the demonetization announcement in November 2016, mutual funds […]

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Balanced Funds as sub category of mutual funds have witnessed significant inflows this year and now account for 50% of net mutual fund investments made since 1st January 2017, according to an Economic Times (ET) report. This seems to be in line with the observation that since the demonetization announcement in November 2016, mutual funds have witnessed a significant increase in popularity among investors.
 

The ET report further stated that a key reason for this rapid increase in mutual fund investments was the potential capability of this investment route to provide significantly higher returns that fixed deposits and savings accounts. The report also observed that these inflows showed a diversified investment approach capable of balancing downside risk of an investor’s portfolio.
 

The ET report also includes data obtained from AFMI (Association of Mutual Funds India), which recorded total mutual fund investments since 1st January across key categories at Rs. 1,000,325 crores. Out of this figure an estimated 50% was invested in various balanced fund schemes while an additional 25% was invested in equity schemes such as large cap, mid cap and multi cap funds according to ET.

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Passenger Vehicles See a Growth of 11% with an Overall Growth of 7% in Car Sales https://www.paisabazaar.com/car-loan/news/19834-passenger-vehicles-see-a-growth-of-11-with-an-overall-growth-of-7-in-car-sales/ https://www.paisabazaar.com/car-loan/news/19834-passenger-vehicles-see-a-growth-of-11-with-an-overall-growth-of-7-in-car-sales/#respond Tue, 10 Oct 2017 07:57:44 +0000 https://www.paisabazaar.com///19834-/ Passenger vehicles witnessed a growth of 11.32% in the month of September. Quoting Society of Indian Automobile Manufacturers (SIAM), a report by LiveMint has said that domestic passenger vehicles sold in September was 3,09,955 against 2,78,428 units sold in the same month last year. Overall sales of vehicles saw an increase of 10% from 22,63,620 […]

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Passenger vehicles witnessed a growth of 11.32% in the month of September. Quoting Society of Indian Automobile Manufacturers (SIAM), a report by LiveMint has said that domestic passenger vehicles sold in September was 3,09,955 against 2,78,428 units sold in the same month last year. Overall sales of vehicles saw an increase of 10% from 22,63,620 to 24,90,034 in September 2017.


Car sales went up by 6.86% from 1,95,259 in September last year to 2,08,656 this year. Utility vehicles saw a whopping rise of 26.21% from 66,851 units to 84,374 units this year. Top selling utility vehicles of the season include Maruti Suzuki Vitara Brezza, Mahindra Scorpio, Honda WR-V, Hyundai Creta, Toyota Fortuner, Ford Ecosport, etc.


Auto industry has gone through a lot of hurdles in the past one year. Demonetisation had a huge impact on car sales last year. Transition of companies from manufacturing BS-III vehicles to BS-IV compliant vehicles also had an impact on car sales, especially in the passenger vehicles section.


The air of uncertainty before and after implementation of GST also had an impact on the industry. However, timely action by companies promoting pre-GST and post-GST car sales at huge discounts helped in mitigating the loss the sector would have faced otherwise. Adding to it, the onset of festive season has given the industry the fresh impetus that it much needed.


Here is a list of companies with their sales in percentage:
 

Company Sales in September
(in Units)
% Increase
(w.r.t. sales in September 2016)
Maruti Suzuki India 1,50,521 9.65%
Mahindra & Mahindra 25,327 23.32%
Hyundai Motors 50,028 17.42%
Tata Motors 19,334 18.24%

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