MoneyGoalz Updates


7 hidden costs of parenthood most people don’t expect to pay, according to financial planners who have kids

Did you know that one has to pay for two deliveries in the USA, if one has twins?

Did you know that kids’ products can be more expensive than what you use. The sellers know parents love to splurge on their children, and they encash your emotions.

Children’s health is not about doctors’ fees and medicines, but alternate foods in case of allergies, ‘safe’ products and a lot more.

How prepared are you?

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Welcome to a child? It is time to plan your finances! – business News

Social media went berserk with the pregnancy of two celebrities in India – Kareena Kapoor and Anushka Sharma.

Are you expecting the stork to visit in 2021?

Do parenting courses tell you about financial planning?

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Do you need to reshuffle your investments as 2020 comes to a close?

Has 2020 been kind to you financially? You can count yourself amongst the lucky few, if you have maintained a steady income.

If the income pattern was not depicted by a straight line or upward curve, you may need to revise financial goals and start a fresh plan.

If you have been fortunate, the proportion of assets in your portfolio would have changed with the equity market fluctuations. Revisit the plan, and see if you need to counterbalance something.

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Rationalisation of tax provisions for family trusts

Family trusts are being espoused as a more comprehensive option for estate planning, than writing a will.

One needs to understand the tax provisions before arriving at a decision.

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How to put your money matters in order if dementia strikes

This is generally not talked about, because of the negative connotations.

Retirement planning, writing a will, what happens to your money if you are in a coma, what happens if dementia strikes are subjects which can be specialised branches of financial planning. Yet, a practice based only on these subjects does not take off for financial planners, because of an inbuilt resistance to think about or discuss these subjects.

We are talking about creating family trusts here. The article will give a preview on how things can be managed.

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National Pension System: Is NPS the right option for retirement?

National Pension Scheme has come under review once again, as uncertainty of the scenario compels the populace to find ways of building secure bases for retirement, along with emergency funds.

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Term plans premium – a ready reckoner

Here is an updated version of the ready reckoner for term plans in insurance

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Bitcoin Investment –

A digitalized investment forum

Bitcoin remains a subject of intense discussion and indecision for serious investors.

It is about risk appetite and trustworthiness.

It is about knowledge or lack of knowledge about how the platform works.

It is about lack of awareness about bitcoin exchanges.

Learn a little more, and add to your knowledge base.

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RBI imposes penalty on Muthoot Finance, Manappuram Finance

Muthoot Finance has been penalised for non-compliance with KYC norms – not maintaining the loan-to-value ratio and not taking PAN details for gold loans above Rs. 5 lakhs. Manappuram Finance has been fined for not verifying ownership of the gold being pledged.

Effectively, both the companies were assisting money laundering. The increasing popularity is sometimes an indicator of subversion in ethics. It has the potential to blow up into a huge scam, though it may not always happen.

The issue for an individual here is not about availment of gold loans, but about investing in shares of such companies. The bubble can burst anytime.

Two decades ago, the modus operandi to boost share prices, was to place half or full page recruitment ads in leading newspapers. It showed that mega projects were in the pipeline, but the applicants did not receive a response. Perhaps every applicant thought only s/he did not qualify.

Regulatory bodies are unable to prevent frauds, as we have seen in so many cases. Why not sharpen our antennae to check if suspicious activity is seen, where consumers are being woo-ed with super-attractive deals?

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How stimulus measures, coronavirus woes can help gold prices firm up

Gold prices are seeing an international surge in dollar prices. It is attributed to the fact that fund managers and central banks have decided to hedge their portfolios and reserves with gold. 

But will Indian market reflect an increase in the same proportion of 20%-25%? The author says it is doubtful, owing to a stronger rupee and renewed lockdowns after a resurgence in post-Diwali Covid cases.

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Getting freelance assignments through e-commerce portals? Be aware of the TDS implications

This article talks not just about TDS implications for freelancers operating through sites such as Fiverr, Upwork and Freelancer, but a financial management strategy for freelancers.

TDS deduction has been reduced to 0.75% from 1% till March, 2021 to mitigate the adverse impact of the Covid19 economy.

But do you pay yourself a salary every month, despite the irregular income?

Do you invest in SIPs or other monthly savings schemes?

Do you leverage your creditworthiness completely while taking a loan, or do you leave a cushion for future adjustments?

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Financial habits after marriage

I remember a NRI client making frantic calls to check if the amount remitted from USA was credited to his mother’s account. He was getting married the next day, but there was a slight procedural delay in the credit.

We tried to humour him saying that you get married in peace, the amount will be there in the receiver’s account on the next working day.

His response -“You are not getting the implications of the delay. From tomorrow, my wife can claim a right on my money. I would like to fulfil my responsibility to my parents before that.”

So, marriage does change life and financial planning. Priorities shift. Responsibilities increase with expansion of the family, and a change in lifestyle. A beanbag, a few devices, a TV and refrigerator are no longer sufficient for survival.

So, how do you manage Relationships and Money, and your relationship with money.

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Journey Through the 6 Stages of Retirement

This blog traces out the mental and emotional journey of retirement, before we hit on the financial implications. Yes, we calculated PF and terminal benefits and listed out our assets some time back. 

But where exactly do you stand now, vis-a-vis your liabilities and cost of living?

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Indians will leapfrog to BNPL services skipping credit cards: Lizzie Chapman

Buy Now Pay Later is a trend the Indian Market is catching on to, and the trend is likely to stay, as per Lizzie Chapman, CEO of Zest Financial Services.

The financial constraints imposed by the pandemic economy has further fuelled the demand for BNPL services. The platform claims total transparency, compared to the fogginess of interest payable on default in credit card payments. This system bypasses the need for credit cards.

Since the BNPL scheme effectively offers a loan equivalent to the price of the item purchased, repayment behaviour does have an impact on the credit score. 

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EMI finance platform reports 500% increase in ‘Buy Now, Pay Later’ solution for electric vehicles

Zest Finance is a EMI financing platform powered by Artificial Intelligence.

They finance low-speed electric scooters (maximum speed 25 km/hour), which do not need a license by transport authorities, in collaboration with manufacturers of the vehicles.

Uttar Pradesh has registered the highest number of purchases.

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Personal Finance Lessons Schools Never Teach

Do the youngsters know about

  • Importance of investing, not just saving
  • Cashflow and passive investment
  • Planning, budgeting and saving taxes

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Guaranteed insurance plans find favour amidst falling interest rates

The fall in interest rates on bank deposits has spurred a demand for insurance plans with guaranteed returns, as investors want to lock in funds at a higher rate for longer periods.

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Bad Money Habits – Face it to Forgive Yourself

Face reality, before you can change it.

Assess yourself, if you have been taking the necessary steps to enhance financial wellness.

  • Having a budget
  • Control on debts
  • Emergency fund in place
  • Paying yourself first
  • Putting your money to work

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Bitcoin is on a record run, surging past $18,000 — here’s why the cryptocurrency is booming again

The stock market is booming during a slowdown, despite the pandemic and bank/NBFC failures.

It is attributed to surplus funds being parked in absence of other opportunities. Now again, the cryptocurrency boom in America is attributed to a positive outlook and institutional investors.

Read on to see how corporate bigwigs have changed their stance on cryptocurrency. Do you think it is the currency of the future?

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ICICI Bank introduces ‘Cardless EMI’ facility

Cardless cash withdrawals from ATMs have been around for sometime. Remember Neetu Singh promoting IndusInd Bank’s newly launched product back then?

Well, ICICI now goes a step ahead to introduce availment of the EMI facility on purchase of household gadgets. One needs the registered mobile number, PAN and an OTP to be generated to avail of this. ICICI Bank customers can check eligibility by sending a SMS ‘CF’ to 5676766

The launch is probably a little late for the Dussehra-Diwali bonanza, but not too late for retailers to encash the facility with increased sales.

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SEBI asks NSE to raise corpus of its investor protection fund to ₹1,500 cr

Investor Protection Fund is the fund a stock exchange needs to put aside to meet investor claims. This fund cannot be used for anything speculative in nature, and is utilised as per SEBI guidelines.

The regulator has asked NSE to increase the corpus from Rs. 550 crores to Rs. 1500 crores. Perhaps, it sees volatility ahead.

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4 signs you won’t be ready for retirement that are obvious by age 40

Indicators and thumb rules help us see where we are.

Adjustments as per your individual circumstances can always be made, but you will sure know if you are serious about retirement planning.

Maybe you are on the right track by fluke, or maybe you need to catch up.

This article will give a direction to your further action plan on financial planning for retirement.

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Expert Talk: Financial Tips To Plan Your Travel Smartly!

The days of virtual travel be hopefully be over, once the vaccine is in place.

But perspectives on spending have changed. Are you financially prepared for holiday expenses, without cutting on emergency funds or health insurance or retirement planning or other long-term financial goals?

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News updates on Laxmi Vilas Bank

T.N. Manoharan has been appointed Administrator for Laxmi Vilas Bank. He has assured depositors that there is sufficient liquidity to repay all deposits, and commitments will be met. There is no cause for panic.

However, the crowds in LVB branches have been termed ‘a demonetisation moment’, as Rs. 10 crores has been withdrawn in the last 24 hours. The maximum limit of withdrawal per depositor is Rs. 25K. In case of unforeseen emergencies in healthcare or education, the withdrawal limit can be extended to Rs. 50K on request.

Officers’ trade union AIBOC has opposed merger of LVB with DBS, saying that it is a pretext for providing entry to foreign banks in the country, and public sector banks cannot be compared to the private sector in their lending policies.

LVB Rescue Act: How did Singapore-based DBS Bank manage to edge out competitors

This article says that DBS emerged as the winner due to a strong balance sheet, low NPAs and a strong capital base. The capability to put money on the table matters.

LVB has a large client base of non-resident Indians, and DBS being a foreign bank with an Asian presence will be able to serve them better.

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LVB Shareholders will get nothing after merger with DBS

The Tier 1 Capital of Laxmi Vilas Bank had dried up, and the bank carried a negative capital adequacy ratio of -2.85%.

Previous proposals of a merger with Indiabulls and the Clix group were not approved by RBI. This is an imposed merger with a foreign bank.

The stated advantages here are that DBS gets new branches to run, and the depositors get back their money after a month.

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Laxmi Vilas Bank placed under moratorium for a month till December 16, 2020

axmi Vilas Bank has been placed under moratorium for a month, w.e.f. 6 pm at 17th November.

Withdrawals are allowed upto Rs. 25000/- per depositor.Amounts above Rs. 25000/- can be borrowed only to meet unforeseen expenses for medical treatment or education etc.

In another circular, RBI has proposed a draft scheme for amalgamation of the bank with DBS.

40% of Canadian bank accounts cannot withstand a financial emergency

A survey has been done in India on preparedness of Indians for retirement. Will share details on it in a day. 

Meanwhile, read that the situation in so-called developed countries has been steadily declining in 2020. The Canadian Government bears medical expenses of citizens, other than medicines and that takes away a major chunk of worry about the future.

Financial behaviour matters, and maybe the West is more reckless in spending than Indians. We really need to tone up, and adopt a systemic approach to financial planning.

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Who is designing India’s growth path?

This is an eye-opening article. The country has been hopping its way through a maze of disasters – pandemic, bank failures, GST frauds and such. 

Has the governance been good?

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Retirement planning for 34 year old naive investor

If you have not started yet, how and where do you start?

Draw your lessons from the example of a 34-year old investor, planning to commence his journey of retirement planning

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Will ask govt to make employers’ contribution, tier-II account tax free for all in Budget: PFRDA

This benefit is available only to Central Govt employees as yet. The Chairman of Pension Fund Regulatory and Development Authority is making a proposal to the government to extend the benefit to all employees.

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Demand for houses in Tier 2 towns accelerates

Migration of the work-from-home population to their hometowns in Tier 2 or 3 cities is an offshoot of the corona virus pandemic. As uncertainty of future income catches up, people want to cut down on living costs, and stay in a secure network of friends and family.

Banks have cut down interest rates on home loans, which facilitates buying of new houses. All this put together has led to an increase in demand for houses in Tier 2 and 3 cities.

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Happy Childrens’ Day 2020, Top Investment Tips for every parent to secure a financially stable future for their kids

Everybody talks about investment and insurance plans for kids.

Financial literacy at an early age can prepare them to have a financially secure future. Every rupee spent on financial education is an investment worth the effort put in to earn that rupee.

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Do not ignore retirement planning, know why it is important

Life spans are increasing, so are risks to health and the need for a cover.

Read on to see what the renewed perspective on retirement planning looks like.

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How to avoid infighting over inherited wealth

The writer makes a moot point here. Many think they have done their job in estate planning by writing a will and related documents. Most of them have failed to communicate it to the beneficiaries of a will, and get their feedback on it. 

There are gaps left on many items considered less important owing to the low monetary value attributed to it. However, these items may be of strategic importance to the survivors, in terms of utility, sentimental value or some other priority. Beneficiaries may read the inherited items in a will, as a measure of their importance in the will maker’s life.

A failure of emotional intelligence leaves permanent scars on the psyche of survivors, and damaged relationships.

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Investment planning tips to follow this Festive Season of Diwali 2020

This article make an important point – not making impulsive purchases of big-ticket items

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Nirmala Sitharaman announces Atmanirbhar Bharat 3.0 package, says ‘Indian economy witnessing strong recovery’ | Highlights

Read the highlights of the Atmanirbhar Bharat 3.0

Main recipients of funds from this package are

  1. Covid Suraksha Mission

2. Exim Bank for promotion of project exports

3. PM Garib Kalyan Yojana

4. National Infrastructure & Investment Fund

5. Atmanirbhar Bharat Rozgar Yojana

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Financial Vision and Values can help you remain committed to your goals

Mrin Agarwal, founder of Finsafe Advisors and Co-founder of WomanTantra says,

Financial freedom is a coveted goal for many, but very few can clearly define it. It changes with every significant decade in your life. Financial values play an important role in determination of financial goals.

The need of foresight and flexibility in the planning process cannot be over-emphasised. A financial coach can help in exploring your own psyche, values and chosen paths and showing you a direction.

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Why you should not apply to multiple lenders for loan at the same time

Window shopping or rate-shopping is not seen as desirable financial behaviour by credit scoring agencies, more so if your existing credit score happens to be low.

Soft Enquiries are generated by your application to know your own credit score.

Hard enquiries are raised by lending institutions to know the credit-worthiness of a loan applicant, and too many of them raise an alarm.

It makes sense to assess different products and offers of lending institutions, find the right fit and then apply for a loan.

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5 ways to stop overspending this season

This is an old article, but makes sense nevertheless.

Buying on credit will be blasphemy. So will dipping into your emergency fund be.

Stick to spending from surplus funds, without cutting into savings or scheduled investments.

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Public sector banks across India plan to strike on November 26 seeking higher savings interest rates and lower bank charges

It is interesting to know that bank unions are speaking in favour of customers.

One of the demands is to increase rate of interest on savings and decrease bank charges.

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1 in 3 Indian professionals now optimistic about their personal finances: Survey

This sounds good, as there are many who expect an increase in income. Hope they have learnt lessons from the pandemic and budget better to save and invest more in the post-Covid economy.

There will be a lot of exhortation and incentives to spend more as the economy needs a boost. A spurt in spending is expected, as people celebrate freedom once again.

But one’s personal financial plan should matter more than national and international economies.

Hope wisdom prevails.

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Gold prices today fall for second time in 3 days, down ₹6000 from record high

The correction in metal prices is baffling. On one hand, it makes it easy to buy gold on Dhanteras. On the other hand, it makes one weary of investing in gold for the long run.

A weak dollar, enthusiasm on the Pfizer vaccine accompanied by fear of a third wave have all contributed to the decline. Gold ETFs have also traded low on exchanges.

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It looks like part of an international trend.

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Mumbai gold buyers utilise lockdown savings at Dhanteras

Mumbai appears to have responded enthusiastically to the drop in prices. This is traditionally a time for buying gold – the auspicious occasion of Dhan Teras coupled with the ensuing wedding season.

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Expert talk – Diwali and financial planning

This article is for a beginner, but covers all the basics nevertheless. Diwali rituals create a base for a similar approach to financial planning.

It is a time for cleansing and renewal, and we have never needed it more than in 2020.

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Is it advisable to buy gold at 50K?

This is what we had to say about gold in July, 2020. The investing methodologies still hold good.

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Portfolio Diversification – How does it optimize returns?

Diversification means the simple rule we studies in school – Do not put all your eggs in one basket.

In mutual funds, diversification is about sectors invested in, tenor and financial goals.

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301 SIPs with the theme “Iss Diwali SIPs wali”

Have you received a call from your financial advisor about investments this Diwali?

Mutual fund advisors are recommending fixed income funds this season, to ensure risk-adjusted returns.

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Top 10 Diwali 2020 (Samvat 2077) Mutual Funds / Stock picks

A very important and interesting article from my perspective. It examines the why and why not, instead of telling you how.

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Choosing the right fund for first time investment

AMFI launched its Mutual Funds Sahi Hai campaign some time ago, which created awareness that one can start with as low as Rs. 500/- per month.

Falling interest rates are weaning away the lure of safety in bank fixed deposits.

Gold is gaining traction, but the liquidity of funds is not as comfortable as a bank FD or a liquid fund in MFs.

But the question I most commonly come across is “Which fund should I invest in to make a beginning?” And the answers are not easy, because they depend on so many factors.

This article attempts to answer the question.

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5 best practices retail investors should follow while investing in cryptocurrencies

Cryptocurrencies may well rule the future, what with governments launching their own cryptocurrencies. As of now, the level of curiosity is high amongst potential investors, but level of comfort is low. The terrain is new. One cannot measure success rate or analyse trends, by historical data. There are no reliable gurus with proven track records. 

Read the following piece to know basic precautions to be exercised, while investing in cryptocurrencies.

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HDFC Ltd. reduces home loan rates

Mortgage lender HDFC Ltd. reduced its Retail Prime Lending Rate (RPLR) BY 0.10% today.

Since adjustable rate home loans are benchmarked against RPLR, all home loan borrowers who fall under this segment will benefit from the rate cut.

The change is effective from 10th November, 2020

Stock Market rally today

The stock market rally has generated a lot of excitement today.

Is it the Joe Biden victory?

Is it the Pfizer vaccine?

But see an article dated August 20, 2020 which had predicted the banking and finance stocks to pick up again, being the carriers of economic recovery. It also talks about silver and other metals gaining in the long run.

Any takers for metal, if your risk appetite for the stock markets is low?

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What does Child Insurance Plan mean?

Child insurance plan is an insurance cum investment plan.

In case of the unfortunate demise of the parent, the child gets the accumulated lump sum amount, and the insurance provider pays future premiums.

There are two types of child insurance plans

  • Savings plan        there is no investment in markets
  • Investment plan  the premiums you pay are invested in equity and debt securities

Benefits of a child insurance plan

  • Can be used as a collateral to get an education loan 
  • Attracts exemption of income tax under 80C
  • Partial withdrawal is allowed if the child meets with an accident

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Deep Insights in to securing your retirement plan from market falls

It is a question that has rocked many of us in recent months. Will my financial plan sustain the vagaries of time and markets?

Interest rates are seeing a steady downfall, which takes away the lure of fixed deposits. 

Market corrections are not sustainable for the weak-hearted, or those with limited resources. Risk appetite matters.

Government schemes have suddenly become attractive despite the procedural hassles, due to the comparatively high returns offered. But the rates have seen a fall for whatever reasons economists and bankers have to offer.

Deep insights are actually common sense measures one needs to follow throughout the planning and implementation phase. There is no magic formula or security blanket.

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Finance Management and Millenials – It’s complicated

What are the challenges faced by millennials in financial management?

  • Living in uncertain times
  • Rising cost of living
  • Lure of easy credit
  • Ignorance about tax matters
  • Lack of financial education
  • Lack of comprehensive money management apps

The solution mainly lies in 

  • financial awareness and education, 
  • knowing the importance of goal-setting
  • Inculcating a financial discipline
  • not living paycheck-to-paycheck

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Sept quarter: DIIs, FPIs train eyes on banking, finance stocks amid economic greenshoots

Experts say banking and finance stocks are undervalued, and one should invest in this segment for a 3-5 year horizon.

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SBI Life introduces a Financial Immunity Calculator

SBI Life has introduced a new financial immunity calculator for you to check how well prepared are you for the post-pandemic economy.

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7 ways investors can prevent misuse of KYC documents

1. Fraud investigation in a bank led me to the doorstep of a college-going girl, whose account had been used to commit a fraud. She claimed ignorance and said that she had never opened such an account in the said bank.

Further probing revealed that her KYC documents had been submitted to the local BSNL office for a phone connection. The documents found their way to a miscreant bank relationship manager, and was used to open a bank account. The account was then used as a channel to commit a fraudulent transaction.

The teenager could have escaped the shock and mental torture of being questioned in a. fraud investigation with a few simple steps.

2. A popular payment bank welcomed me as a new savings bank customer, when I had never opened such an account. On the previous evening before receiving the welcome mail, I had done an eKYC in a designated outlet to keep a payment app functional. The eKYC was used to opening a savings bank account without my consent.

I managed to get it closed, but that’s another story. These things do happen, and will continue to happen.

Surprisingly, most of us ignore these simple steps while submitting KYC documents for different purposes.

Half of urban Indians have no retirement plan: PGIM India Mutual Fund survey

Retirement planning is primarily focussed on Provident Fund, Pension, Insurance and fixed deposits in banks, for a large segment of the Indian population. Rent-yielding real estate is another popular option.

It worked fine with prevalent social structures in the past, when the joint family institution ensured that everybody was taken care of. Children shouldered the responsibility of looking after parents in their old age.

The scenario has changed in the last two decades. Migration to other countries for higher studies or jobs have left parents to their own devices in sunset years.

If you have not checked your financial quotient yet, click on this to do so here

This PGIM India Mutual Fund survey shows that urban Indians need to be more pro-active about retirement planning. 

Do-it-yourself or let a financial planner chalk it out for you. Find a mutual fund advisor to execute the plans for you.

Start early, and that’s the keyword.


Raghvendra Nath, Managing Director of Ladderup Wealth Management answers a question on how to build a retirement corpus of Rs. 2 crores, starting in your thirties.


Work-from-home has been both a bane and a boon, but is likely to be the new normal. While households struggle with their loss of privacy, and bosses wonder how to wield control, taxes remain the area of high concern.

Exempted items like conveyance reimbursement and leave travel concession may not be applicable in the changed circumstances. Employees need to be reimbursed for data costs, and for creating a small office set-up at home with basic furniture. The nature of client meetings will change. Corporate gifting will go digital.

How should companies go about altering the compensation structure?


While we feel burdened with salary cuts and job loss, the world sees India,
Indonesia and Philippines as placed in the Goldilocks phase of economy.
Goldilocks is the phase where growth is high, and inflation is under control.
The economy shows signs of recovery due to the festive season. An early
vaccine may benefit us.
However, unemployment, lowering of income, mounting pressure of personal
debt will continue to cause concern.

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The pet peeve of mutual fund distributors is that a large part of the population
continues to park money in bank deposits.
Low interest rates have been driving senior citizens to the edge, who may be
running their household on interest income. At the same time, market-related
investments are also yielding low returns.
Here, Lakshmi Iyer, CIO, Kotak MF takes a very practical view and advises
senior citizens to stay invested in fixed income instruments. Stock market
investments and gold can be a part of the portfolio, but in a small ratio.
Retirement planning may not change much, if done keeping in view the risk-
bearing capacity of the investor and the right financial product mix.

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