Manappuram Finance Is Offering 10.40% Interest on NCDs. Should You Invest?
Manappuram Finance, a non-banking finance company (NBFC) mainly known for providing personal loans against gold or gold jewellery, has come out with an issue of secured non-convertible debentures (NCDs) offering up to 10.40% interest per annum.
 
Thrissur-based Manappuram Finance is one of India’s leading gold loan NBFCs with 4,208 branches (including branches of subsidiary...
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Credit Rating – I: What To Expect from Rating Agencies
After the deep mess in which Infrastructure Leasing & Financial Services (IL&FS) has landed, everybody’s attention is back on credit ratings. The rating agencies have been accused of deteriorating financials of IL&FS. Whether or not we know much about the functions of rating agencies, it does not stop us from cursing them. 
 
Under the current system, companies pay rating agencies...
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Provident fund, NSC interest rates hiked to 8%, for KVPs to 7.7%
The government on Thursday raised the interest rates on small saving schemes, including National Savings Certificates (NSCs), Public Provident Fund (PPF) and Kisan Vikas Patra (KVP), for the third quarter of the fiscal (October-December).
 
A Finance Ministry notification said that for time deposits of less than 5 years the interest increases by 0.3 percentage point, while it would go up by 0.4 percentage point for others. 
 
The PPF and NSCs will earn 8 per cent interest from October 1, 2018, while KVPs will earn 7.7 per cent.
 
The PPF, NSC and KVP are currently offering 7.6, 7.6 and 7.3 per cent interest, respectively.
 
While the Senior Citizen's Savings Scheme of five-year period will offer 8.7 per cent interest, the Sukanya Samriddhi Yojana for the girl child will offer 8.5 per cent.
 
The government retained the interest on savings deposits at 4 per cent, compounded annually.
 
The new interest rates are in line with the hike announced by India's central bank in key interest rates.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

 

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