LIC’s Jeevan Shagun (Plan no 826) plan will be launched on 1st September,2014. This is a close ended plan. Plan is open for sale for a period of 90 days only. It is a single premium, non-market linked, with-profit,money-back type product. The single premium is calculated based on the Maturity Sum Assured (MSA) chosen by then […]
Archives for August 2014
Employees’ Pension Scheme – Amendments and new benefits
The Central government has notified the much-awaited minimum monthly pension of Rs 1,000 per month to the Employees’ Pension Scheme holders. This scheme is managed by EPFO (Employees’ Provident Fund Organization). Employees Provident Fund & Employees’ Pension Scheme: Every month 12% of your “salary” is contributed towards EPF account. Your employer also contributes 12% of […]
Pradhan Mantri Jan Dhan Yojana Scheme (PMJDY)
The central government launched its ambitious financial inclusion programme, the Pradhan Mantri Jan Dhan Yojana (PMJDY) on 28th August. It is reported that around 1.5 crore bank accounts were opened on the first day of the launch. The government aims to achieve its target of around 7.5 crore bank accounts under this scheme by January […]
RBI’s press note on new KYC norms for opening Bank Accounts
The Reserve Bank of India yesterday released a press note relating to Know Your Customer (KYC) norms for opening bank accounts. The objective of this is to bring awareness among the general public about the KYC simplification measures taken by the Reserve Bank in the recent times with a view to helping the common man […]
E-Insurance Account and its benefits
Insurance Repository services with a provision to open e-Insurance Accounts were launched exactly one year back. As of now this service is not a great success. The main reason being low awareness about e-insurance account. Also, the insurance industry did not market this service aggressively. Last week, LIC (Life Insurance Corporation) tied up with 5 […]
REITs in India – Features, Benefits & Tax Implications
REITs (Real Estate Investment Trusts) are soon going to be a reality in India. The Securities & Exchange Board of India (Sebi) has issued final guidelines for Real Estate Investment Trusts (REITs). While the concept of REITs been in existence in developed markets for several years now, it is a new concept in India. In […]
