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Author Archives: wealth18

EPF Interest rate for 2014-2015 set at 8.75% on PF Deposits : EPFO

Last updated : 7th October, 2016 EPFO’s trustees today decided to retain interest payment on provident fund deposits for 2014-15 at 8.75% The decision to retain the interest rate on the provident fund deposits at last year’s level was taken despite some protest by the trade union members of the CBT The final notification for payment of the interest rate for the current fiscal will be issued by the Finance Ministry later. The EPFO had provided 8.75 %  rate of interest on PF deposits for 2013-14, which was higher than 8.5 %  paid for the previous fiscal Read More »

LIC Bonus rates for 2013-2014

Last updated : 21st August, 2014LIC has declared bonus rates for its plans for year 2013-2014. See the details below: Plan Term Reversionary   & Interim     Bonus (per 1000) Whole Life     2,5,6,8,10,28 ( before conversion),    35,36,37, 38,49,77,78,85,86   70 ENDOWMENT TYPE     14,17,27& 28( After conversion), 34, 39, 40, 41, 42, 50, 54, 79, 80,81,   84, 87,90,91,92,95,101,102, 103,109,110,121. 10   & less 34 11 to 15 38 16 to 20 42 21 & above 48 Plan   88,89,48 15 & less 40 16 to 20 44 21 & above 48 Plan   133 15 & less ... Read More »

Quantum Long-Term Equity Fund (G) – Details & Review

Last updated : 21st August, 2014Quantum Long-Term Equity Fund (G) is  EQUITY – LARGE CAP Mutual Fund.  This Scheme is RANKED 1 in this category for Qtr Mar-2014. This in an Open Ended Scheme with inestment objective to achieve long-term capital appreciation by investing primarily in shares of companies that will typically be included in the BSE 200 Index. Fund   Category Equity  – Large Cap Asset Size (Rs   cr) 272.92     (Jun-30-2014) Fund Type  Open   Ended Minimum   Investment 5000 Launch Date 25-Feb-06 Entry   Load NA Fund Manager Atul   Kumar / Nilesh Shetty Exit   Load On   ... Read More »

EPFO re-initate process to club allowances with basic pay, ordered inspection

Last updated : 7th October, 2016 August 2014,  EPFO has asked its over 120 field formations to inspect firms which are deducting PF on 50 %  or less of total wages. In a bid to deal with issue of splitting of wages by employers, field offices told to inspect establishments that may be structuring salaries in such a way as to cut PF liabilities The employers often split wages into different allowances to reduce their PF liability and also increase the take home pay of their workers. The provident fund is deducted as 12 % of basic wages. According to ... Read More »

SBI Savings Plus Account with MOD High Interest Scheme – Details & Review

Last updated : 2nd May, 2015 In one of my earlier post, I did explain how you can earn upto 9% interest on your Savings account. (Read the post here). Many members asked me about whether such facility available with SBI. So in this post, I am providing details regarding Sweep-in facility in SBI and how can you earn more from your idle Saving Account balance. Savings Plus Account is a Savings Bank Account linked to MODS (Multi Option Deposit Scheme), wherein you can earn high interest from your idle funds in Savings Account. Sweepin Facility – The surplus funds ... Read More »

HDIL – Merill Lynch buys 30 lakh shares for Rs 29 crores

Last updated : 5th August, 2014 05-Aug-2014 –  Merrill Lynch Capital Markets Espana today picked up over 30  lakh shares of real estate player Housing Development and Infrastructure Ltd (HDIL) for nearly Rs 29 crore through the open market route. A  total of 30,50,000 shares of HDIL were acquired by the Merrill Lynch Capital  Market arm, bulk deal data with the stock exchanges showed. The shares  were acquired for an average price of Rs 94.73 apiece, bringing the transaction  value to Rs 28.89 crore. Earlier this year, On June 27, 2014, Citigroup Global Market Mauritus Private Limited bought 40,00,000 shares at ... Read More »

4 Midcap Technical Picks for Long term – HDFC Sec

Last updated : 25th July, 2014 Most midcaps are trading below their 2008 highs and they make a good case for  allocation over pure large caps. Following are technical recommendations from HDFC Securities on stocks which have the potential to turn into multibaggers in the long-term period. IDBI Target price Rs 230 Upside: 152 % Jain Irrigation Target price Rs 252  Upside: 140 % Crompton Greaves Target price Rs 400  Upside 122% Adani Enterprises Target price  Rs 766 Upside 80% Read More »

Top 25 bets by Goldman Sachs, BofA-ML, Deutsche Bank, UBS

Last updated : 25th July, 2014 After rallying over 24 %  so far in the year 2014, the Indian markets are now taking a breather. According to most analysts, the hope-based rally is largely over and the markets are likely to consolidate in the near term, but the broader trend for the market largely remains on the upside. We have collated a list of stocks and sectors where global brokerage firms are betting on: (Source: ET) Goldman Sachs –  The brokerage house recommends stocks with strong earnings potential and better earnings visibility such as TCS, HCL Technologies, ICICI Bank, IndusInd Bank, ... Read More »

LIC e-Term Plan – Details & Review (Online Life Insurance Term Plan)

Last updated : 28th March, 2015 Finally, LIC has started offering an online term insurance plan (LIC’s e-Term Plan UIN: 512N88V01)  In this post, we will discuss the various features of this plan as well as merits & demerits, cost of LIC e-term plan etc. LIC’s e-Term is a regular premium non-participating “on-line term assurance policy” which provides financial protection to the insured’s family in case of his/her unfortunate demise. This plan will be available through ONLINE application process only and no intermediaries will be involved. A.    Key features of this plan are :   Available only through Online mode ( ... Read More »

Kotak Bank to buy 15% of MCX from FTIL for Rs 459 crore

Last updated : 21st July, 2014 Kotak Mahindra Bank has agreed to buy a 15 % stake in Multi Commodity Exchange of India (MCX ) from Financial Technologies (India) Ltd (FTIL) for Rs 459 crore.  the deal.  The deal values MCX at Rs 3060 crore (Rs 601/sh) whereas the stock closed at Rs 786.25 on Friday. It seems that deal is done at discount, but note that prices are increased only in this month. It was hovering around Rs 600 for quite some time. Kotak Bank has shown this interest, they send a non binding bid in April, it was at ... Read More »

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