No Claim bonus is a reward in the form of a discount offered while you pay the renewal premium on your Motor Insurance Policy. No Claim Bonus is 20% for first claim free year and the same keeps on increasing by 5% for every claim free year till it reaches 50%. Afterall, why should'nt you be rewarded for being a good driver.
Sunday, March 27, 2011
Thursday, March 17, 2011
RBI Hikes Rep Rate and Reverse Repo rate by 25 basis points
In line with the market expectations, RBI has hiked the Repo Rate and the Reverse Repo Rate by 25 basis points each after Quarterly Review of Monetary Policy, and has also revised upward inflation target to 8% from earlier year-end expectation of 7%.
Food inflation may not come down in a hurry. Global oil & commodity prices, which have remained high for some time. With high inflation, real interest rates have remained negative and we expect that RBI would continue to hike rates as least by 50 bps more in the coming months in a phased manner.
Sunday, March 13, 2011
Invest in Gold? Invest in Kotak Gold Mutual Fund
After Reliance Mutual Fund, Kotak Mutual Fund has come up with Gold Mutual Fund. It is an open ended fund of funds. And we surely can expect more similar gold related mutual fund (which primarily invests in their respective Gold ETFs) from other fund houses pretty soon. This Kotak Gold Fund just like theReliance Gold Savings Fund invests primarily at the Kotak Gold ETF.
Tuesday, March 8, 2011
Employee Provident Fund (EPF) not to give interest for non operative accounts for 36 months effective April 1, 2011
All provident fund subscribers who have accounts which are not operative for 36 months will cease to accumulate any interest after April 1, 2011. Hence it is important that all non operative provident fund (PF) accounts should be transferred or settled before April 1, 2011.
According to EPFO estimates, there were 30.5 million inoperative accounts across 120 offices. In all, the agency had 47.1 million subscribers at the end of March 2009, which is estimated to have increased during the last financial year.
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