DHFL Corporate FD

Dewan Housing Finance Corporation (DHFL) is offering 13 months FD with interest rate of 10.50%pa. DHFL’s FD is rated by CRISIL as AA+. Corporate FDs are unsecured and, hence, savers should invest only a small portion of their savings. It is better to stick to CRISIL FAAA rated corporate FDs to minimise the chances of making a loss rather than chasing 0.25% to 1% higher returns with lower-rated FDs. There are cases of savers having had a difficult time to get back the FD maturity amount.

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Top G-Sec Yields

Yields on G-Secs remained unchanged since last fortnight (19th November to 3rd December), although it fluctuates on the basis of 10-year benchmark G-Secs. Bank FD rates are offered for similar rates, but only for up to 10 years. G-Secs are offered for maturity up to 30 years.

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Gold More Popular than Narcotics for Smuggling

Gold smuggling in 2013 has jumped seven times and has left narcotics behind as the most popular product among smugglers, according to sources in customs department. From travellers laden head-to-toe in jewellery to passengers who conceal carbon-wrapped gold pieces in their bodies, Indians are smuggling in more bullion than ever before, since the government put massive restrictions on gold imports to control India’s current account deficit. India imposed a 10% duty on bullion and a 15% tariff on jewellery which led to a plunge in imports from a record 162 tonnes in May to 24 tonnes in October.

But the World Gold Council estimates that 150 to 200 tonnes of smuggled gold will enter India in 2013, in addition to the 900 tonnes of official demand.  Official data, showing a sharp fall in gold buying which has helped narrow India’s current account gap, underestimate the real level of gold flows. India’s customs department doubled seizure of gold between April and September compared to that in the entire 2012. Seizures reflect just 1%-2% of the gold smuggled.

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