Investment

Lets try to understand what is   NEFT and RTGS  and what is the difference between them. NEFT and RTGS are two main mechanisms to transfer money from one bank to another bank in India. Transferring money between two accounts in same bank is pretty straight forword and its a internal matter of the bank, it does not have to deal with other banks and their protocols, however when one bank wants to send the money to another bank in India, there is a defined mechanism it has to be done and hence NEFT and RTGS comes into picture. Both these systems are maintained by Reserve Bank of India. Lets understand both of these NEFT – National Electronic Fund Transfer NEFT full form is National Electronic Fund Transfer, and its a system of transfer between two banks on net settlement basis. Which means that each individual transfer from one account to another account is not settled or processed at that same moment, its done in batches . A lot of transactions are settled in one go ...

Do you love your wife? You better do ! There were few changes made few weeks back in the marriage laws in India, which everybody should be aware about. A bill called “Marriage Law’s (Amendment) Bill 2010″ was passed in Rajya Sabha which has made some major changes in the   women   rights on how the properties would be divided after divorce. The biggest change says – “ As per new Divorce law,  Wife share in property would be 50% in all her husband’s residential properties, no matter what and in other properties, her share will be decided as per the court decision. ” Wife share in property owned by husband would be 50% Earlier, before this change – a women was entitled for a share in husband’s properties, but there was no quantum defined as per law, it would be any percentage depending on the case, but now with this amendment done, a women will enjoy equal sharing without any condition in all the residential properties owned by husband. But in this case, wo...

Your credit score is going to affect your Employment . Yes –   that’s happening already . A lot of companies especially Finance and Software Companies have started asking candidates to present their   CIBIL report   and score (or any other credit report) at the time of  interview and it has started playing a role while selecting a candidate. So if your credit report is bad because you have not paid your loans on time or if you settled your loans in past, you might get rejected in your next job interview provided your prospective employers looks at your cibil report/score. Note that its a standard practice internationally to   check credit score before employement and various other purposes 3 Real Life Example of Job Rejection due to Bad Cibil Report I am sharing with you 2 real life example’s where credit report was asked before interview and they were eventually rejected (there can be other parameters for rejection apart from the bad ...

What is   CIBIL report  ? Are you looking to check your credit score and want to know why your loan application was rejected ? Yes, if you are misusing your credit taking capacity, you are being watched at like never before in this country. I am talking about CIBIL here and in this article let me show you how your current behaviour related to credit card, personal loan, home loans are going to affect you in future in a good and bad way What is CIBIL and why you should be concerned ? CIBIL is Credit Information Bureau of India Limited, which acts like a central repository of credit information in India. As many as 500 different banks and financial institutions are CIBIL’s clients and they report each of their customers (like me and you) actions to them. So if you take a   credit card   from ICICI Bank, then ICICI bank reports to CIBIL about it. If you enquire about car loan to HDFC Bank, hold your breath! as even that enquiry is reported to CIBIL, if ...

This is really interesting and useful chart, I got recently. The image below shows Gold historical price from the last 86 years i.e. from year 1925 – 2011. Have a look. You can also click on below image to open in window / tab.

There are around Rs.26,000 crores money which are lying in different   banks, post office etc. in India. Out of which some amount may be yours also.  It happens many times that people do not operate a bank   account   for long time and then they   forget. Or it may be a bank account of your dead relative and you're a   nominee   there. But you don't know about that. Reasons are many. Now, the question arises, how to check whether your money is lying somewhere without your notice? HDFC Bank has started   online   service where you can check unclaimed account by entering your name. Just visit  http://www.hdfcbank.com/personal/customer-centre  and on the bottom right of the screen, click on "Unclaimed Deposit Search". The following screen will pop-up. Now, enter your name. On the screenshot, as you see, I entered the name "Amitabh" and the list shows all the people with unclaimed money starting with Amita...

For   children, financial literacy begins at   home. The first step is doling out   pocketmoney, which not only gives them financial independence, but also offers parents the chance to educate them about the value of money. Lists the things you should keep in mind before you use this financial tool. 1. How should you fix the amount? You can splice the financial learning of your kid in four stages or age bands—5-8, 9-12, 13-15 and 16-18 years. Start the allowance at around 7 years or the age you are comfortable with depending on the kid's ability to handle money. If you don't think he is ready to take on the responsibility, delay the allowance by a few months or a couple of years. Revise the amount with age as the child's needs and preferences change, from buying sweets and snacks at 8 years to eating out with friends as a teen. It is advisable to start with   small,   weekly   payouts and increase these progressively to amonthly   amount becau...