If you have a savings account in any bank, you must be aware of the rule regarding MAB and how to calculate Monthly Average Balance. Every bank has different monthly average balance (MAB) requirement and if you are not maintaining the MAB in your savings account, you will be penalized. Some people even refer to this as Minimum Average Balance. … [Read more...]
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Radhakishan Damani inspiring life – Top Holdings, Early career, Dmart
Radhakishan Damani has been great investor in Indian stock markets. His life history is such an inspiration for anyone who wants to succeed in life and in stock markets. We can find out the top holdings of Radhakishan Damani, how he started DMart and his investing journey in general which will change the way you think about life. Radhakishan … [Read more...]
Growth vs dividend mutual fund – Which is better for Returns, Taxation?
The awareness about mutual funds has grown considerably in India with 'Mutual Funds Sahi Hai' campaign. But the eternal question of Growth vs Dividend mutual funds remains. Which is better for returns and taxation from investor point of view - is it mutual fund growth option or dividend option?. Before going into the analysis of which is … [Read more...]
Auto Sweep – How to get 8% interest rate on savings account
Whenever you visit a bank to get an account, various accounts are there to choose from. You must always be wondering how to get high interest on savings account in India? Most common used account types are current and savings accounts. Unfortunately in most cases Current Account does not pay much/no interest. We individuals are more … [Read more...]
Truth & Math behind RBI transfer of Rs 1,76,000 cr to government – What is Contingency Fund?
The RBI has recently transferred a sum of Rs 1,76,000 crore to government. This has caused quite an uproar. Many people are still confused if this was a right move by RBI and if RBI was forced to do this. We had received few emails as to how RBI arrived at this amount. Below post is a clarification of the math behind RBI transfer and possible … [Read more...]
What fiscal stimulus package did Finance minister announce for slowing economy – Infographic
The Finance minister came up with much needed stimulus package to save the slowing economy. She also undid few unfriendly business announcements which were made in the budget. Post budget we see large capital outflow from the market with huge losses to investors. The industry is welcoming the booster, but what exactly did she announce and how will … [Read more...]
Top 5 Best Term Life Insurance Plans – Online Policy in India – Claim settlement Ratio
I often get asked "what is the one decision which affects or improves a person's financial life". My reply is to take "Term Life Insurance" .This will be the best investment or financial decision one can make in your life. The insurance industry purposely keeps a lot of insurance to keep you away from buying term insurance. It is time to update … [Read more...]
How missing income tax filing deadline will affect you later
What will be fine for missing to file IT returns by deadline? Will you be jailed ? What will be the drawbacks in future? Let us focus in detail. All Indians do not file their taxes on time and sometimes missing income tax filing date can come back to bite you later. I myself had missed it few years back and had to pay it with fines at later date … [Read more...]
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