KYC Mandatory for all investors in Mutual Fund

With effect from 1st January 2011, KYC will be mandatory for all investors irrespective of amount of investment. In case of investment for a minor, Guardian/Parent who is investing on behalf of the minor must be KYC complaint. Impact of this move: 1. Even small investors have to now register for KYC. 2. Address updates ...

What form of Government is Correct?

There is much hype about Democracy being the best way to govern a country. Other forms of governance like communism, dictatorship, feudalism (king rules) are all against the basic rights of an individual. So is Democracy the best? Let’s start with identifying how to measure which is the best? – Should we take the economic ...

NEFT/ RTGS Charges Changed

RBI has announced the change in Charges for NEFT & RTGS w.e.f. 15th November 2010. The revised charges are as below: RTGS – New Minimum limit = Rs.2 Lakhs Amount                              Charges 2Lakhs – 5Lakhs                Rs.25/- Above 5Lakhs                     Rs.50/- NEFT Amount                              Charges Up to 1Lakh                        Rs.5/- 1Lakh – 2Lakhs                Rs.15/- Above 2Lakhs                     Rs.25/- According to RBI ...

New Rules for Salary Account Opening

Currently the easiest way to open a bank account is opening a Salary Account through the Company. Just fill the form, give a photo and company gives a letter and presto the account is openned. But finding fault in this process of opening accounts without proper KYC norms, RBI has asked banks to ensure that ...

China opens New Shanghai-Hangzhou high-speed rail Line

Just read a new update on China opening a new High-Speed Rail Line between Shanghai & Hangzhou. It was amazing to see the country progress so well – building high-speed rail networks to transport people across the country. But 2 things caught my eye: 1. The Current time taken to cover this distance of 202KM ...

Retail Subscription Limit Limit Increased

SEBI has increased the maximum amount applicable for retail investors from Rs.1 Lakh to Rs.2 Lakh. There are both positives & negatives of this move. Positive: – It will increase the subscription amount in Retail Category with more investors using the ceiling amount of Rs.2 Lakh Negative: – It will reduce the allocation of shares ...

FDFS – Enthiran Rocks

Got to see the FDFS – First Day First Show of Enthiran Movie at Albert Theatre (8AM) in Chennai today. Atmosphere – great, so much noise outside and during the start of the movie. After the movie had a tough time getting out of the theatre complex – too much crowd & noise. About the ...

Blocking Bulk SMS

Central Government has today banned bulk SMS for the next 72hrs in the wake of the Ayodhya Land Judgement tomorrow (24/Sept). While this is a good move to prevent rumours from spreading, I was surprised at the impact of this move. This move seems to have hit even the genuine corporate users of sms. Take ...

Kashmir proves we Indians are fools

Watching the events around Kashmir esp. in the recent past I am surprised that as a country (which we project as a growing power) we are not able to manage the situation created by a few selfish people. Or is it the case that Politicians do not want a solution to the issue so that ...