Indian Stock Market News and Views.
Posts tagged money
RBI removes “High Value” Status for 1 Lakh
May 14th
How much valuable can one lakhs be any idea? Those who have earned would know how much value they mean and how much they are hard in earning, but the RBI has reduced its value, without thinking that a car is available for that money 
, yes its the truth from May 2 a cheque will have to be above 5 lakhs and from August it should be above 10 lakhs to get the status of “High Value” before that a cheque for 1 lakhs was given the consideration and would be cleared on the same day itself. From November 1 there will be no high value clearing and status. The banks are busy with signing the customers a special form to use RTGF ( Real Time Gross Settlement) or NEFT (National Electronic Funds Transfer).
RBI is planning to bring in electronic clearing in all transactions in the near future, you being a retail investor should verify that if your broker, financial advisor is having your RTGF or NEFT number its usually found in the cheque book with 11 numbers, there are problems that comes with the RTGF there would be no proof that the money has been credited until your bank statement arrives.
What you think about this good enough? Indian banks are just developing ? Comments please?
What is Micro Finance
May 13th
In India Micro finance seems to be the buzz in the streets of the Mutual fund industry. The industry is not grown like what is found to be in the other developed countries. Keeping in mind with the vast untapped market of India Mutual fund companies are getting with new plans which would range from Rs.10 to 300 per day. The target of the micro finance is for the rural and semi urban area households with low income. To tap the market major fund houses like UTIMF and SBIMF have been associated with many NGO’s and other micro credit institutions locally. The first one to get into the micro financing market was Bharati AXA with their Bharati AXA Equity Fund by the last of September which was with a minimum investment of Rs.300.
