Pension regulator defers online version of NPS
October 5, 2015
The Pension Fund Regulatory and Development Authority (PFRDA) has deferred the launch of the online version of the National Pension System (NPS) in the wake of the recent Supreme Court order on Aadhaar card, Chairman Hemant Contractor has said. The online version of NPS was eagerly awaited, as it could have made the product popular among the Indian public, further bringing down transaction costs. In view of the Supreme Court order — which prohibits the Unique Identification Authority of India (UIDAI) from sharing subscriber information with third parties, PFRDA is now exploring a non-Aadhaar based mechanism for meeting the know-your-customer (KYC) requirement, Contractor told BusinessLine on the sidelines of a financial inclusion summit, organised by Confederation of Indian Industry (CII)
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PFC Tax Free Bonds
September 26, 2015
Issue Updates Issue Opens on 05th October, 2015 Allotment : First come First Serve Basis Issue Size : Rs. 700 Crores Allocation: QIB 10%—————-Rs 70 Crores Corporate. 25%—————-Rs 175 Crores HNI— 25% ————– Rs.175 Crores Retail 40% ————– Rs. 280 Crores Interest Rates for Retail Individuals Investing upto Rs. 10 lacs 10 years—- 7.36 p.a 15 years— 7.52% p.a 20 years—- 7.60% p.a For Non Retail ( QIB, Corporate, HNI) 10 years—- 7.11% p.a 15 years— 7.27% p.a 20 years—- 7.35% p.a Rating: AAA Issuance: Demat and Physical mode
NTPC Tax Free Bond
September 23, 2015
Issue Overview Public issue by the Company of tax-free secured redeemable non-convertible Bonds for an amount of Rs. 400 crore with an option to retain oversubscription of up to Rs. 300 crore for issuance of additional bonds aggregating to a total of up to Rs. 700 crore during fiscal 2016. Issue Date : September 23, 2015 – September 30, 2015 Allotment : First Come First Serve Basis Issue Price : Rs. 1000/- per Bond Face Value : Rs. 1000/- per Bond Minimum Application : 5 Bonds (Rs. 5,000/-) (individually or collectively, across all Series of Bonds) and in the multiple of One Bond (Rs. 1,000/-) thereafter Nature of Instrument : Tax-free secured redeemable and non-convertible Listing : BSE & NSE
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All you wanted to know about teaser home loans
September 19, 2015
At a recent banking conclave, SBI chairperson Arundathi Bhattacharya wondered if banks could re-launch discounted home loans to revive the floundering property market. RBI governor Raghuram Rajan neatly fielded this by saying that it would be better if builders dropped their prices instead. India’s largest bank and the regulator have been at loggerheads over the so-called ‘teaser home loans’ ever since these products were first flagged off in 2009-10. What is it? This is the unofficial term used to describe housing loans that carry ultra-low fixed rates in the initial years, but charge market-linked rates thereafter. Normally, most Indian NBFCs and banks offer home loans at floating interest rates. The interest rate on the loan is at a ‘spread’ over
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File your tax returns on time
September 14, 2015
Get cracking. You can escape the extra 1 per cent a month interest on delayed filing August 31, the due date for filing your tax return for 2014-15, is just a week away. If you haven’t filed your return yet, it’s time to get cracking. . Here are five reasons why you should file your returns by the due date. Save on cost Filing tax returns on time can save you interest cost. If you owe money to the taxman, a late return will mean an interest payment of 1 per cent for each month of delay (part of a month is considered a full month for the calculation). Say, you owe the taxman ₹25,000 for the year ended March
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