Thursday, July 25News That Matters

Misc

SREI Infrastructure Finance – NCD Sep 2012 – Details & Review

Bonds
SREI Infrastructure Finance – NCD Details & Review - Sep 2012 SREI Infrastructure Finance is the latest company to raise funds through NCDs. Secured NCD from SREI Infrastructure is offering interest upto 10.30%. The first-cum-first serve issue opens on 20th Sep. It is offering lower rates as compared to recent NCDs of Religare Finvest (12.5%),  Muthoot Finance (12%) & Shriram City Union (11.75%) About the Company :  Srei Infrastructure Finance Limited (NBFC) provides financial products and services to its customers engaged in infrastructure development and construction, with particular focus on power, road, telecom, port, oil and gas and SEZ sectors in India. With a large customer base and over Rs. 307,643.50 million of consolidated assets under management, Srei Group has a pan-I...

Religare Finvest Limited – NCD Issue Sept 2012

Bonds
Religare Finvest Limited – NCD Details & Review 12.50% return on 5 year secured NCD from Religare Finvest seems attractive for retail investors.  The issue is opening on 14th Sep (on first come first served basis) and offering rates better than recent NCDs of Muthoot Finance (12%) & Shriram City Union (11.75%) Religare Finvest Limited, a subsidiary of Religare Enterprises Limited intends to raise Rs 500 crore from the capital market through its public issue of Secured Redeemable Non-Convertible Debentures.  This NCD is offering yield upto 12.6%. About the Company Religare Finvest Limited is subsidiary of Religare Enterprises Limited (REL), a diversified financial services company. It is a Non-Deposit Accepting NBFC, focusing on small and medium enterprises (SME) financing and reta...

Muthoot Finance NCD Issue – Sep 2012

Bonds
Muthoot Finance NCD Details & Review NCDs are flavour of this year. After Shriram City Union Finance NCD opening on 12-Sep-2012, another NBFC - Muthoot Finance has hit the market with public issue of secured NCDs offering upto 12.25%  p.a. interest. The issue will open on 17-Sep-2012. Company Muthoot Finance Limited is the largest gold financing company in India in terms of loan portfolio.  The company provides personal and business loans secured by gold jewellery, or gold loans, primarily to individuals who possess gold jewellery but could not access formal credit within a reasonable time, or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements. As of June 30, 2012, the Company has branch network of 3,780 branches. The Company’s...

Shriram City Union Finance – NCD Issue Sept 2012 – Should you invest in it?

Bonds
Shriram City Union Finance Limited – NCD Details & Review In my earlier post, I explained about NCDs and whether you should consider it as Investment option. After India Infoline Financial Services Ltd’s unsecured bonds offering 12.75% per annum, Shriram City Union Finance Ltd has hit the market with a public issue of secured NCDs offering 11.75% per annum. Company Shriram City Union Finance Limited (SCUF) is a part of the Chennai based Shriram group of companies and the sister concern of Shriram Transport Finance. They are entering the debt market second time. SCUF is incorporated in 1986 and is registered with the Reserve Bank of India as a deposit-taking non-banking finance company (NBFC) with its presence in gold loans, small business finance loans, auto loans, two-wheeler...

What is NCD? Should you invest in NCDs?

Bonds
What is NCD? Should I invest in NCDs? In recent past, you might have seen number of advertisements in newspapers / business news channels, where companies offering lucrative rate of interest for investment in their NCDs.  Recent NCD Issues Muthoot Finance Limited NCD Religare Finvest Limited NCD Mannapuram Finance Limited NCD Shriram City Union Finance NCD India Infoline Financial Limited NCD Most of these NCDs were offering interest of 11-14% p.a Lets understand what is NCD and whether you should invest in it.   What is NCD Full form of NCD – Non Convertible Debentures In simple words, debenture is an instrument by which company raises money from public for a specified duration and pays a fixed rate of interest. It is like taking loan from public at interest. There a...

Now you can transfer funds from NRO to NRE account

NRI
The Reserve Bank has now allowed non resident Indians (NRIs) to transfer funds from non-resident ordinary (NRO) account to Non-Resident External (NRE) account a/c. ( May 2012) The maximum limit is $1 million in a financial year. As per the existing regulation, funds transfer from NRE account to NRO was allowed, but not from NRO to NRE.  Funds transfer from NRO account to Bank Account abroad was allowed. See my post - How to transfer funds from your NRO Account This new RBI notification allows to transfer funds from your NRO Account to NRE Account. Ref - RBI/2011-12/536  A. P. (DIR Series) Circular No.117  dates 7 May 2012 Procedures for transferring funds from NRO Account to NRE Account A separate procedure is not mentioned for transferring funds from NRO to NRE, so the general procedure...

How to transfer funds from your NRO Account

NRI
Do you have balances in your NRO account and want to transfer abroad? Here is a quick guide related to remit / transfer funds from your NRO account to a Bank Account outside India. Balances in the NRO account are not freely repatriable. But the RBI does allow NRIs to remit up to USD 1 million per financial year from the NRO account, provided you follow certain procedure. Balances in the NRE account are freely repatriable  and  you do not need any permission for remittance abroad for any amount. Procedure to remit / transfer funds from your NRO Account To transfer funds from your NRO Account, you need to submit documents to ascertain the nature of remittance and to ensure that proper taxes are paid. 1: Chartered accountant's certificate - Form 15CB A certificate under Form 15CB is required...