Prajna Capital |
- Types Of Account NRIs Can Open In India
- RuPay Debit Card
- How to Find Certified and Authentic Silver in India
| Types Of Account NRIs Can Open In India Posted: 22 Jan 2016 06:00 AM PST What Type of Bank Account Can NRI Open In IndiaMost of the nationalized/private sector banks in India such as State Bank of India & it's associate banks, ICICI bank, Axis Bank and others facilitates NRI's to open accounts in India and offer them competitive interest rates. While interest earned on few accounts is tax free whereas interest earned is taxable on few. NRI's who've earned good amount of money outside of India can opt to open different account/deposit types in India which will benefit in securing and safeguarding the finances. Non-Residential Indians can open following 11 types of accounts with most of the banks in India: 1) NRE Rupee Accounts Most of the account types for NRI's mentioned above can be opened only with designated branches. NRI's can also ask their financial advisor about recommendations, documentation required etc. NRI's opting to open an account in India should look out for following most important features depending on their purpose of opening. 1) Investment Term Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds Top 10 Tax Saving Mutual Funds to invest in India for 2016 or Best 10 ELSS Mutual Funds in india for 2016
1. BNP Paribas Long Term Equity Fund 2. Axis Tax Saver Fund 3. Franklin India TaxShield 4. ICICI Prudential Long Term Equity Fund 5. IDFC Tax Advantage (ELSS) Fund 6. Birla Sun Life Tax Relief 96 7. DSP BlackRock Tax Saver Fund 8. Reliance Tax Saver (ELSS) Fund 9. Religare Tax Plan 10. Birla Sun Life Tax Plan
Invest in Best Performing 2016 Tax Saver Mutual Funds Online For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call --------------------------------------------- Leave your comment with mail ID and we will answer them OR You can write to us at PrajnaCapital [at] Gmail [dot] Com OR Leave a missed Call on 94 8300 8300 |
| Posted: 22 Jan 2016 05:36 AM PST What is RuPay Debit CardNational Payment Corporation of India (NPCI) promoted by RBI on 26 March 2012 launched an Indian payment gateway system as an alternate solution to Mastercard and Visa which are widely used across the world and have dominance even in India.  RuPay Card Logo As of now RuPay debit card has been issued. Processing of RuPay card is done by the payment gateway company CCAvenue which powers more than 80% of eCommerce merchants in the country. Card issuing banks will have to pay fees for every transaction to the company which will setup machines and thus generate revenues. RuPay Card Advantages1) Accepted at around 1,45,270 ATMs. 2) Acceptance by over 8,75,000 point-of-sale (PoS) terminals 3) Over 10,000 E-commerce sites have added RuPay is one of the payment method. For e.g. coke2home.com, justrechargeit.com and futurebazaar.com now accept this card. 4) Accepted at around 1.8 lakh merchant terminals in India out of the current 8 lakhs 5) Transaction fee charged to the merchant is 0.01% 6) Transaction limit is very high. Of course this will vary from bank to bank 7) Customers will get SMS alert for every transaction done through their card
Disadvantages1) Visa and Mastercard provides rewards points and at this stage there is no such update on the reward points system by RuPay card 2) No updates available on issuance and annual fees.
Application – How to Get RuPay CardIndian consumers can apply for RuPay Cards at the public banks and private sector banks. And is also issued by over 200 co-operative and rural banks in the country. Here's the list of few these banks where application of RuPay cards can be made: 1) Public sector banks: For easy access, wherever possible links to the bank website are mentioned below:
2) Private Sector banks: Federal bank is first private sector bank in India to launch RuPay card. Click latest news by bank here Existing customers having savings or current bank accounts in any of these banks can apply for RuPay card. Recently Indian government has asked public banks to issue RuPay card to their existing customers and install terminals which can accept this payment. However this does not mean these banks will stop issuing Visa and Mastercards. But government is stressing on giving more focus to country's own card. Benefits of Launching RuPay CardWith an aim of not to generate profit at this stage, following are the main reasons to launch RuPay debit card 1) Reducing the cash usage 2) Very cost effective: Transaction cost is very less as compared to internationally used Visa and Mastercard since the whole process will take place within India. So Indian banks have to pay fees in Rupees to international payment companies and thus saving on foreign currency. 3) Cost of clearance would be low due to processing within India 4) Reduced dependence on card systems currently used worldwide 5) Huge savings to Indian consumers 6) As all the transaction data would be available in India and thus prevent customer purchase data going out of the country 7) People with no or limited access to banking and financial services can easily avail the cards as they would be available in rural areas as well Do you know about cardless cash withdrawal, a new service offered by Indian banks? Statistics So Far1) Since it's launch in 2012, over 20 million RuPay cards have been issued 2) Backed by consortium of Indian banks 3) By 2014, target is to issue 10 million and this won't be possible unless banks take speedy action on this. Plans Ahead: 1) NCPI has outlined their plan for future for launching EMV cards 2) Contact less cards 3) Credit cards Local Cards by Other Countries: Many countries have created their own payment firms such as China (UnionPay), Singapore (AsiaPay) and Brazil(allpago) Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds Top 10 Tax Saving Mutual Funds to invest in India for 2016 or Best 10 ELSS Mutual Funds in india for 2016
1. BNP Paribas Long Term Equity Fund 2. Axis Tax Saver Fund 3. Franklin India TaxShield 4. ICICI Prudential Long Term Equity Fund 5. IDFC Tax Advantage (ELSS) Fund 6. Birla Sun Life Tax Relief 96 7. DSP BlackRock Tax Saver Fund 8. Reliance Tax Saver (ELSS) Fund 9. Religare Tax Plan 10. Birla Sun Life Tax Plan
Invest in Best Performing 2016 Tax Saver Mutual Funds Online For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call --------------------------------------------- Leave your comment with mail ID and we will answer them OR You can write to us at PrajnaCapital [at] Gmail [dot] Com OR Leave a missed Call on 94 8300 8300 |
| How to Find Certified and Authentic Silver in India Posted: 22 Jan 2016 05:07 AM PST Silver jewellery and silver articles are frequently bought by Indians. Be it a wedding or any other religious ceremony, this white metal is rampantly used as a gifting article as well as for puja purposes. Although, buying silver for various purposes is quite common, there are numerous instances where the buyer is tricked into buying silver which is not pure or is not of good quality. What is Hallmarking?Hallmarking is the accurate determination and recording of the content of precious metals in metals like gold, platinum and silver. Thus, hallmarked metals are guarantee of metals being pure and fine. The hallmarking technique has been adopted to prevent sellers selling irregular gold or silver to customers at prices that are not suitable. For example, a jeweller may sell gold coin to a person at the price of gold when actually the content of gold may be less than what is expected. Such cases make customers lose their money over metals which are not even pure and sellers are able to make inappropriate gains. Hallmarking of Silver in IndiaBIS has launched the hallmarking scheme for silver in the year 2005. A lot of silver dealers have since then been issued with hallmark licenses for selling hallmarked silver artifacts and jewellery. In order to determine the purity of silver, hallmarking technique has been rolled out by the BIS, Bureau of Indian Standards, which is the organization responsible for Standardization, Certification and Quality. BIS was launched as a statutory organization under the Bureau of Indian Standards Act, 1986. What should you look for in a Hallmarked Silver Article or Jewellery Piece?In order to be certain that you are buying pure form of silver, there are a few signs that you should look for in the piece of Jewellery or article that you buy. Following are few such points that will confirm the fineness of the metal that you are buying. BIS MarkBIS Mark is one of the foremost marks of purity of silver. It is a sort of triangular symbol with a dot inside the triangle. This is the official logo of Bureau of Indian Standards or BIS. Purity Grade/FinenessFor fine silver, the purity grade is either of 999.9, 999.5 or just 999 For silver alloys, Jewellery and artefacts, it is 970, 925, 900, 835, 800 Years of MarkingThis is denoted by the letter J for the year 2008 Jeweller's Identification MarkJeweller's identification mark is yet another technique to verify the purity of the metal. Customers should look for the above four signs while buying silver or silver jewellery. This is the most efficient technique for finding and buying authentic silver in the country. Before the hallmarking technique was launched, metal sellers and especially jewellers were able to make a lot of money through swindling transactions. Customers were made to believe that they were buying pure metal when the metal was mixed with certain alloys. This practice led to customers being cheated and sellers making more than the right profit. Since the inception of hallmarking by BIS, customers can now freely buy precious metals like silver and gold without worrying about their purity. ----------------------------------------------------- Invest Rs 150000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds There are a lot of mutual funds that customers can choose from but some of the best Tax Saver mutual funds in India right now are: Top 10 Tax Saver Mutual Funds to invest in India for 2016 or Best 10 ELSS Mutual Funds in india for 2016
1. BNP Paribas Long Term Equity Fund 2. Axis Tax Saver Fund 3. Franklin India TaxShield 4. ICICI Prudential Long Term Equity Fund 5. IDFC Tax Advantage (ELSS) Fund 6. Birla Sun Life Tax Relief 96 7. DSP BlackRock Tax Saver Fund 8. Reliance Tax Saver (ELSS) Fund 9. Religare Tax Plan 10. Birla Sun Life Tax Plan It must be remembered that this list is not set in stone as improvement or reduction in performance of the mutual fund could change the position of these funds among the top 10 tax saving mutual funds in India.
Invest in Best Performing 2016 Tax Saver Mutual Funds Online For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call --------------------------------------------- Leave your comment with mail ID and we will answer them OR You can write to us at PrajnaCapital [at] Gmail [dot] Com OR Leave a missed Call on 94 8300 8300 |
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