Showing posts with label Overview. Show all posts
Showing posts with label Overview. Show all posts
Thursday, April 7, 2011
Anna Hazare anti corruption movement is not for anyone else, but you
We all must have heard by now that there is someone by the name Anna Hazare who is there on indefinite hunger strike against corruption. Most of us would be thinking that whatever we may do, its impossible to stop corruption. Hold on, let me tell you that this news had been distorted by Media and, yes he had been on hunger strike to fight against corruption, but his present step is in the form of getting "Jan Lokpal Bill" passed which has been stucked for approximately 4 decades.
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.
Monday, February 14, 2011
Complete details on Interbank Mobile Payment Service (IMPS) the Future of Money Transfer and Payments
As of now, interbank funds transfer electronically is done through National Electronic Funds Transfer(NEFT). But issue with these transfers is the time lag as this is not a real time service and transactions are settled in batches. The other instant funds transfer service available in name of Real Time Gross Settlement (RTGS), but that has minimum transfer limit of 2 lakhs.
Saturday, February 12, 2011
After long rule of Plastic Money, Comes Mobile Money: Airtel Launches Airtelmoney
This might be just the begining of a new era. Earlier plastic changed the way we used to keep money, now a new concept of mobile money has been launched in India by "Airtel" India's No.1 Telecom Company which has been granted license by RBI to use semi closed wallet.
Have you ever wanted to buy tickets for the evening movie show without visiting the theatre, pay your electricity bill without waiting in a long queue, buy yourself a coffee without the need to take out change – or wished you could magically pay for groceries after forgetting your wallet at home? Your wait is finally over.
Tuesday, January 18, 2011
Complete information on Hindu Undivided Family (HUF): An ultimate tax saver
HUF or Hindu Undivided Family is defined under the Hindu Law as a family that consists of all persons lineally descended from a common ancestor, including wives and unmarried daughters. All male adults in the family are called Co-Parceners, and all female members of the family are called Members, and the head of the family Karta (Generally the eldest male).
Who Can Create HUF
Any hindu individual male can create HUF as soon as he gets married to a hindu female. Its not necessary to have children to create HUF. Persons from other religion are not eligible to create HUF except Jain and Sikh who can create HUF even though they are not governed by hindu law.
Tuesday, January 11, 2011
Mobile Number Portability (MNP) Completely Explained: How to Change Mobile Service Operator and FAQ's
Telecom Regulatory Authority of India (TRAI) fixed the maximum rate of mobile number portability fee at Rs.19. Although Telecom operators are free to charge less than Rs.19 or even offer this service free. Now it is imperative for the Telecom company to offer best Coverage, Connectivity, and quality of service.
Wednesday, December 29, 2010
Lessons learnt from unearthing of Rs. 400 crore fraud in Citibank Gurgaon
If at all you are not aware about a Rs. 400 crore fraud happening in Citibank, Gurgaon Branch, which was unearthed on 28th December. Please find the story below
Shivraj Puri, a relationship manager at the Citibank Gurgaon branch, who allegedly sold investment products to high networth clients claiming that they would generate unusually high returns. He allegedly routed the fund garnered from HNI customers to stock market through brokerage firms like Religare Securities. complaint states that Puri had got a joint account opened in the names of Prem Nath, Sehna Prem Nath, and Deeksha Puri in September 2009. Earlier this month the bank checked the joint account and realised that there were large cash transactions from this account.
Sunday, November 21, 2010
All you wanted to know about Aadhar, Unique identification project by UIDAI
What is Unique ID?Unique Identification is a string assigned to an entity that identifies the entity uniquely. Every person residing in India will soon have a UID. Biometric identification system and checks would be used to ensure that each individual is assigned one and only UID and the process of generating a new UID would ensure that duplicates are not issued as valid UID numbers.
Saturday, June 5, 2010
Govt Raises Threshold for Public Shareholding in Listed Companies
Govt Raises Threshold for Public Shareholding in Listed Companies All Listed Companies Required to Maintain 25% Public Holding
The Government has made amendments to the Securities Contracts (Regulation) Rules. The salient features of the amendment are as follows:
a) The minimum threshold level of public holding will be 25% for all listed companies.
b) Existing listed companies having less than 25% public holding have to reach the minimum 25% level by an annual addition of not less than 5% to public holding.
Tuesday, May 25, 2010
Indian market Snapshot for May 2010
3G auctions to aid biggest India deficit cut in 19 years
Finance Minister Pranab Mukherjee said India’s auction of wireless air waves may pay for its biggest budget-deficit reduction in 19 years, as the government expects to earn at least 600 billion rupees ($13.3 billion) from the sale. Earnings from the auction may be “over and above” the budget estimates for the current year. Companies such as Vodafone and Bharti Airtel may pay 250 billion rupees more than the government earlier estimated for the right to provide high-speed mobile services. Higher revenue will help Mukherjee slash the budget shortfall to 5.5 percent of gross domestic product in the current financial year.
Monday, May 24, 2010
Mukesh and Anil Ambani Come togeather: Good news for markets as well as India
It was a fight between two eminent business honchos. In a major development on the sibling rivalry between Mukesh and Anil Ambani - they decided to bury their differences and create a harmonious environment of co-operation and collaboration between their groups.
As stated by Anil Ambani, all existing non-compete agreements between the two groups executed in January 2006 have been cancelled. This harmony followed only after the Supreme Court declined to give any relief to younger brother in the gas dispute. As per the Supreme Court order, RIL (Mukesh) and RNRL (Anil) will expeditiously negotiate gas supply arrangement and hope to conclude negotiations very soon.
As stated by Anil Ambani, all existing non-compete agreements between the two groups executed in January 2006 have been cancelled. This harmony followed only after the Supreme Court declined to give any relief to younger brother in the gas dispute. As per the Supreme Court order, RIL (Mukesh) and RNRL (Anil) will expeditiously negotiate gas supply arrangement and hope to conclude negotiations very soon.
How Mangalore Air India Crash will increase Travel cost now
The Mangalore air crash is set to take a toll on the insurance bill of at least three airlines - Air India, Kingfisher and IndiGo - whose insurance covers are coming up for renewal in the next couple of months.
Other airlines such as Jet Airways, however, may remain unaffected, for now, as their insurance is not due for renewal in the near future.
Air India, which this year preferred a consortium of private sector players led by Reliance General, had in fact started feeling the heat even before the crash took place on Saturday.
Last week, the insurance companies, citing an earlier incident, slapped an additional premium demand of $3.25 million (Rs 15 crore) on the airline. Air India, which has always insured with public sector players led by New India Assurance, had purchased a $8.59-billion (Rs 40,000 crore) cover, for which it had paid $24.3 million (Rs 113 crore at present exchange rates) as premium.
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