Small Savings: Government Likely To Lower Small Savings Interest Rate
The government is likely to lower interest rates on small savings like Public Provident Fund (PPF) and post-office deposits, to bring them in line with market rates. The decision regarding the quantum of rate cut and its timing will be decided by the finance ministry.
 
Economic affairs secretary, Shaktikanta Das, said: “It has been decided that with regard to transmission of rates, the government will undertake review of the small savings rates also.”
There has been a call from bankers to lower interest rate on small savings as a high rate on such government schemes makes fixed deposits of banks uncompetitive.
 
Smalls saving schemes include post office monthly income scheme (MIS), PPF, post-office time deposit scheme, senior citizen’s savings scheme, post-office savings account and ‘Sukanya Samriddhi’ accounts.

User

Regulation: SMS-Based Investment Scams

Concerned over a spurt in investment scams perpetrated through SMSs, WhatsApp and the social media, SEBI (Securities and Exchange Board of India) has beefed up its surveillance of such platforms and is seeking greater cooperation from mobile and Internet service-providers (ISPs), as well as banks, to nail the culprits. Market trading activities have seen a major spurt in recent months; but this positive environment is also leading to many fundamentally weak stocks generating interest. The modus operandi revealed by this enhanced vigil, typically, includes tax evasion through bogus gains or losses through stock market platform; trading on the basis of unpublished price sensitive information; and certain Indian and overseas entities engaging in fraudulent activities of manipulating GDR (global depository receipt) route.

User

Real Estate: Government To Launch Its Own Realty Portal
The government is set to launch a realty portal of its own, initially with about 50,000 residential properties that you can bid for online. These are properties that debt recovery tribunals (DRTs) have allowed banks to sell through auction, after their owners defaulted on loan repayment. The government portal, which is yet to go live, will provide details such as the floor area of the properties and allow anyone to bid directly after electronically making the earnest money deposit.
 
The new portal will remove banks from the auction process, although the sale proceeds will flow into their accounts for loan recovery. To participate in the auction, a person will have to first register on the portal by submitting the KYC (know your customer) information, which includes permanent account number (PAN) and Aadhaar number.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)