Product Updates

Now, you don't need to post paper acknowledgement of I-T returns In a major step aimed at easing taxpayer grievances, the Central Board of Direct Taxes (CBDT) on Friday said assessees filing income tax (I-T) returns online will no longer have to send the paper acknowledgement by post, as a new Aadhaar-based electronic verification code has been launched to authenticate this document. CBDT, the apex policy making body of the I-T department, has introduced a new column in the I-T returns for 2015-16, where an e-filer can provide his Aadhaar number that will have to be authenticated on the official website of the department via a One Time Password. Business Standard Sent from BlackBerry® on Airtel

RBI allows banks to offer differential interest rates on term deposits The Reserve Bank of India (RBI) has allowed banks to have the discretion to offer differential interest rates based on whether the term deposits are with or without-premature-withdrawal-facility. Liquidity or ease of withdrawal, which is often touted as the biggest advantage of bank fixed deposits, may soon be restricted due to this move.  In the sixth bi-monthly monetary policy review held in February 2015 the central bank had decided to introduce the feature of early withdrawal facility in a term deposit as a distinguishing feature for offering differential rates of interest. RBI said that all term deposits of individuals held singly or jointly of Rs 15 lakh and below should have premature withdrawal facility. Besides that banks have been allowed to offer deposits without the option of premature withdrawal as well. For most banks, the penalty for premature withdrawal of deposits is 0.5 to 1 per cent below the ...

MF exposure to bank stocks drops to Rs 73000cr in March Mutual fund (MF) managers dropped their exposure in bank stocks to over Rs 73,000 crore in March after raising it for six consecutive months. MF investments in bank stocks declined to Rs 73,575 crore as on March 31 after hitting an all-time high of Rs 77,805 crore in the preceding month, according to the latest data available with Securities and Exchange Board of India (Sebi). In comparison, the investment in banking stocks stood at Rs 40,293 crore in March 2014. Mutual Fund investment in banking stocks account for 20.42 percent of the total equity assets under management (AUMs) of Rs 3.6 lakh crore. It had been continuously raising exposure to banking shares since September last year. According to market participants, funds have been showing interest in banking stocks since September last year amid rising equity markets and the current decline is mainly due to profit-booking. Money control Sent from BlackBer...

Public issue of secured redeemable NCD from Srei Equipment Finance Limited (Srei BNP Paribas). ·  Issue opens on 09/04/2015      About Srei Equipment Finance Limited : ---------------------------------------- ·  A 50:50 joint venture between Srei Infrastructure Finance Limited & BNP Paribas. ·  One of the leading NBFC in organised equipment financing sector in India with a principal focus on financing infrastructure equipments. Issue Highlights : ----------------- ·  Attractive interest rates of 10.25% for 60/84 months & 10.20% for 36/39 months. ·  0.25% additional interest for Senior Citizens. ·  Demat & Physical options available. ·  NO TDS for any investment amount ONLY if maintained in Demat option. ·  Issue opens on 09/04/2015 & closes on 30/04/2015. ·  Issue size Rs.500 Crs. ...

Dividend transfer plan- low risk way to invest in equity MF One of the problems faced by retired people is to make their portfolio earn well so that the corpus lasts their entire lifetime. There is a paradox inherent in that statement. If the portfolio has to earn well, they would need to take some risk – which many seniors may not want to take with their retirement corpus. But if they don't do that, they run the real risk of the corpus dwindling in their lifetime itself. So, is there any way out? There is. This can help a person who does not want to take too much risk but also wants to participate in market upsides and inject some steroids into their portfolio. A low risk way of going about it is through a Dividend Transfer Plan. What is a Dividend Transfer Plan? A Dividend Transfer Plan( DTP ) is one where the dividend declared in a source scheme is transferred as an investment in a target scheme. The advantage here is that the original investment is intact and only the dividend ...