Thursday, August 21, 2014

Provident Fund Permanent Account No. and Portability soon to be a reality

If you recollect, in my blog 'EPFO's journey from apathy to dynamism' I had mentioned that like income tax PAN, you would soon have a permanent provident fund account number called the Universal Account Number (UAN).

As per the recent update, this process is in advanced stages.

EPFO has already issued and forwarded the UANs... for around its 4 crore subscribers... to their employers. 



Tuesday, August 19, 2014

Warren Buffett's company's share hits $200,000 price

Yes, you read it right! Each share of Berkshire Hathaway now trades at around $200,000. This company, as you may be aware, is Mr. Warren Buffett's holding company that owns his various investments.

Before you get any wrong ideas that at US$ 2 lakh per share (or Rs.1.20 crore per share) it is simply toooooooo expensive, let me tell you that at this price the P/E ratio is a mere 17.15. And it compares quite favourably with Dow Jones Industrial PE at 15.87. 



Monday, August 18, 2014

Count your ATM visits or else pay for it

If you are a frequent visitor to the ATMs, be ready to shell out some nominal fees for the same.

Reserve Bank of India, in its circular on Aug 14, 2014, has rationalized the number of "free transactions" at Automated Teller Machines (ATMs).

- No. of free transactions at other banks' ATMs is reduced to THREE per month (earlier it was 5 free transactions per month)


Thursday, August 14, 2014

Long Term Motor Insurance Policies make a debut

Traditionally, as you would be aware, your car and two-wheelers have to be insured every year.

Given the requests from the industry, Insurance Regulatory and Development Authority (IRDA) has recently accorded its approval for the introduction of vehicle insurance policies for a term of three years.

However, as a baby step, this will presently apply only to
(a) two wheelers, and
(b) third party cover only (own damage cover will continue to be on an annual basis).


Wednesday, August 13, 2014

Nomination rules you must know, if you love your family

Firstly, people are often very lazy with their nominations.

Secondly, people are often very lazy with their Wills too.

Thirdly, different nomination rules apply to different financial products.

As such, if you sincerely care that your near and dear ones inherit your wealth as per your wishes — and more importantly as conveniently as possible — you cannot afford to be ignorant of the following rules and regulations.


Tuesday, August 12, 2014

REITs are coming to boost your treasure

Last year, SEBI began the process of formulating the guidelines for introduction of Real Estate Investment Trusts [See 'REIT is the new property investment strategy']. This is now complete and the SEBI (Real Estate Investment Trusts) Regulations, 2014 have been announced.

This is in addition to the Finance Ministry's proposal in the recent 2014-15 budget that REITs will be a pass through for the purpose of taxation; whereby capital gains and dividends would enjoy tax benefits similar to equities / equity-oriented mutual funds.


Monday, August 11, 2014

Is Forex Crisis 2 likely to hit us, just as many movie sequels?

If you recollect, around mid-2013 we had a major scare in our foreign currency market with billions of dollars leaving the country. This, as I had explained in my blog 'Why did the Sensex crash 525 points on Thursday?', was primarily due to the change in monetary policy by the US.

If you further recollect, this led to sharp rise in the
value of dollar from Rs.58-60 to almost Rs.70 levels. As a result  
- petrol prices shot up

- gold prices fell
-
RBI hiked the interest rates
- stocks suffered a steep correction
- education and travel abroad became prohibitively expensive
- debt funds ended up with, once in a blue moon, losses.


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