October 10, 2011 08:59 by Admin
Post office deposit schemes account holders will soon enjoy higher returns as the finance ministry has decided to fast-track reform of the National Small Savings Fund (NSSF).
The Finance Ministry has decided to expedite implementation of the recommendations of the expert panel for market-lin... [More]
March 26, 2011 12:11 by Admin
It’s a game every Indian has been talking about. After all defeating a team that has been the defending champion for over a decade is no small feat. The game and the manner in which our boys won it just goes to show that winning a cricket match is not just about scoring runs but the pace at which you score them; it’s also about conserving wickets, restricting the opposition from scoring runs, taking their wickets, taking catches, the weather conditions... Managing your personal finances is no different really, is it? [More]
January 27, 2011 02:45 by Admin
Headline inflation as measured by the Wholesale price index (WPI) increased in December 2010 to 8.4% up from 7.5% in November.
For Indian savers, this poses a challenge. The average saver is looking for savings avenues that came help him beat inflation.
Bank deposit rates are now below inflation. The average saver, liable to pay income tax at rate of 20%, will need to find deposits @ 10.5%, and those at a tax rate of 30% will need to find deposits @ 12% just to be able to meet the cost of inflation. Interest income below these rates will lead to a loss in “real” terms. [More]
November 30, 2010 22:36 by Admin
It is fairly easy to procure a credit card and easier still to spend thereafter. Credit card usage has steadily been on the rise in India over the last few years. The lure of instant gratification, not having to postpone your purchase and the convenience associated with not having to carry cash have made these cards an almost must have for one and all. However, like any other product, credit cards too come with their own set of considerations that must be kept in mind to avoid financial loss or a spiraling debt trap. [More]
October 27, 2010 15:20 by Admin
Following the recent developments in Andhra Pradesh over allegations of excessive interest rates charged by MFIs to small borrowers, it seems that the chorus for a serious review of the industry is building up. The Andhra Pradesh government has passed an ordinance to regulate MFIs and mentioned the high suicide rate among farmers as the trigger for regulating MFI activities requiring lending entities to register with designate entities. [More]
August 19, 2010 22:07 by Admin
Personal loans are unsecured loans, thus cost you much higher than other types of loans. The longer the tenure of the loan, the higher it costs you. Your CIR can help you get a better deal in future, thus make sure you make timely payments. Before opting for a personal loan, keep the following tips in mind. [More]
July 28, 2010 20:18 by Admin
With inflation expected to be in double digits for the sixth month in a row, it came as no surprise to anyone when the Reserve Bank of India (RBI) raised its repo rate, at which it lends to banks, by 25 basis points to 5.75% yesterday and its reverse repo rate, at which it borrows from banks by 50 basis points to 4.50%. [More]