All of us in one way or the other encountered people offering us to have a credit card.  We have to remember that the credit card could make or break your financial life and put the other aspects of your life into sudden chaos.  If you are smart and cautious in handling it well, then it will bring you a lot of benefits yet, if you are just happy go lucky about it, then it could ruin your life and even bring misery to your family members.

This short list of guidelines will aid you to understand on how you will utilize your credit card so that it will work not for your disadvantage but for your own welfare and benefits:

Advantages of having a credit card:
A credit card can basically do the following:
1. Be very safe from thieves and convenient to carry than cold cash.
2. Give you convenient options regarding payment method on the things you want to buy via the internet or your telephone.
3.  Make you establish a credit history that is excellent
4. Provide you with free use of funds for as long as you always pay your account balances on time and in full.
5.  Let you enjoy with rewards, incentives and other freebies.

Disadvantages of having a credit card:
1. If you won’t pay on time, it will cost you the most compared to other forms of credit such as line credit or personal loan.
2. It will give you more headaches because it will build more than enough debt which you can bear.
3. Destroy your credit record if your payments are delayed.
4.  The terms and conditions are quite unclear or difficult to understand.
5. There are hidden charges.

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Conclusion:
The most basic and primary advantage of having a credit card is that, it will bring convenience to your financial transactions and buying affairs, but the inadvertent and delayed payments will cause you a lot of headaches and can leave you a lot of debts which is beyond your paying capacity.

The much anticipated guide and instructions regarding lock-in period for Unit Linked Insurance Plans or ULIPs has finally emerged through the decision of IRDA or the Insurance Regulatory and Development Authority.  From the previous three years period, IRDA deemed it appropriate to increase ULIPs lock-in duration up to five years.  This decision finally stopped the disagreement between SEBI’s market regulators and IRDA itself.

The said decision above formalizes the lock-in period for ULIPs to increase to more years from their current 3 years period, making it to 5 years.  This change has to take effect and must be followed from now on since IRDA would like to assure that ULIPs will now be treated not anymore as short term products but as long term policy insurance product.  Except for the pension product, all the rest of the ULIPs will be categorized as yearly or annuity products.  Meaning to say ULIPs now will have a health cover or a mortality cover as a consequence.

If in case there will be an amount to be paid by the policy holder which is considered as any top in the insurance policy, then this top will definitely be regarded as one single premium. This simply means that all top up that the policy holder makes will incur an added insurance cover that will back up the said insurance premium itself.

Moreover, no withdrawals will be allowed when it comes to the pension and annual product.  ULIPs would like to remind its policy holder that those pension annuity products may not necessarily have a life or health cover.  But, these types of insurances must be upgraded or turned into annuity on its maturation.

ULIPs pension annuity offers will have 4.5% yearly minimum rate of investment or will be dependent in view of the suggestion or the regulator.  Regarding ULIPs loans, there will be 40% of the NAV that the policyholders can take as their net loan.  It must however be noted that it should be in the form of an equity oriented ULIP so that it will give the client an equity as high as 60%.

In view of the ULIPs’ charges,the policy holder should be aware foremost in view of some standard and legal charges which include the following: guarantee maturity charge, highest NAV guarantee charge, surrender charges and fund switch charge.  Other insurance companies may even include hidden charges to their plan holders.

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In conclusion, this new guide and instructions will take effect starting September 1st, 2010 in order to give the rest of the companies more than enough time to comply with them.

Hello friends, as our previous news mention yesterday NSE, BSE to open trading at 9 a.m. from Dec 18
Now this time change again after today meeting. Now The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) have decided to postpone new trading timings to January 4, 2010.
The market closing time would continue to remain unchanged at 3:30 p.m.

Source : BSE News

Friend , this is very important news for Indian reader Rivalry between the two leading bourses came to a head on Wednesday with both the Bombay Stock Exchange and National Stock Exchange, announcing that they would start trading from 9 a.m. from Friday.

Source : BSE

Read: BSE, NSE new trading timings from Jan 4, 2010

Gold jumped by as much as Rs 200 from yesterday’s close to reach an all-time high of Rs Rs 15,900 per 10 grams in the Indian capital, New Delhi. A similar spurt was recorded in global markets, which jumped to a 6-month high of almost $1,000 an ounce in the domestic markets.

The foremost reason most analysts have given to explain the phenomenon is that traders are stocking up the commodity before the start of the inauspicious ‘Shraad’ fortnight period, during which no such trades are supposed to be carried out.
However, what is adding to the price progress in the yellow metal is that investors are being chary of the volatile stock markets (they have also been range-bound for more than a month now) and are safeguarding their money by investing in bullion.
The ‘Shraad’ period is quickly followed by the auspicious period that is marked by festivals like Diwali and the start of the marriage season, which usually drives gold retail sales to the year’s high.

The other precious metal to show a significant surge was silver. It jumped by as much as Rs 700 to reach the Rs 25,300 marks. Platinum, Palladium and Rhodium are next in line.

The advantages of gold investment are that it is an effective diversifier, highly liquid and portable.

Gold investment, like investment in any other precious metal, has some advantages in compare with other forms of investing your capital and are worth considering before you make your final decision. The greatest advantage of gold investment is definitely the safety. Gold has been highly valued precious metal since the prehistoric times and will be highly valued also in the future. For that reason you do not have to worry so much over its daily prices on the global market and future development because gold investment brings minimal risks (off course if you are not speculating).

The strength of gold as a diversifier is due primarily to its negative correlation with other asset types. The market and economic forces that determine the price of gold are different from those that affect most financial assets, and are very often in direct opposition to them. Gold is easily convertible to cash. Gold can be readily bought and sold 24 hours a day, and trading spreads are narrow…in fact, bid/offer spreads are similar to the spreads on stocks.

The hyped Tata 1 lakh car was launched earlier. TATA is yet to announce the bookings for the car publicly and the TATA website to does not have any information on that same.

Good luck with booking the TATA Nano and feel free to post your experiences in the comments section.

Here are some pictures and the Nano car specifications:

• 624cc petrol engine
• 33BHP
• 20km per litre mileage, upto 26km per litre on highway
• 30 liter petrol tank
• 4 door, 5-seater
• Rear engine, front boot
• 4 speed manual gear box
• On road price expected to be around Rs. 1 lakh 25 thousand
• front disc brakes and drums in the rear
• Euro 4 compliant
• Top speed 90kmph

21% more space than Maruti 800!

The car comes with three models

• Tata Nano Standard (BSII* and BSIII*): The standard version has three colour options, single-tone seats, and fold-down rear seat.
• Tata Nano CX (BSII* and BSIII*): This model has five colour options, with heating and air-conditioning (HVAC), two-tone seats, parcel shelf, booster-assisted brakes, and fold-down rear seat with nap rest.
• Tata Nano LX (BSIII*): It comes with the features of CX plus complete fabric seats, central locking, front power windows, body coloured exteriors in three premium colours, fog lamps, electronic trip meter, cup holder in front console, mobile charger point, and rear spoiler

Here is how to book tata nano

• State Bank of India would be the qualified banker for collection of bookings in 850 cities.
• The car can be booked by just paying Rs 2,999 upfront while the rest can be secured by way of loan, he said. There would be 15 preferred financiers for the booking whose names would be disclosed in three days.
• The initial 50,000-60,000 Nano cars is to be supplied from its Pantnagar plant primarily set up to manufacture Ace trucks, Tata said, adding that the plant to manufacture the Nano at Sanand (Gujarat) is likely to go on-stream by end-this year or early next year.
• The first 100,000 customers will be selected by draw of lots from the bookings, he said, adding that those not allotted would have the option to retain their bookings.

First Booking Process of tata nano
The sale of application forms and acceptance of booking will start from April 9th 2009 till the end of day April 25th 2009. The application forms will be available at a price of Rs. 300. The application forms will be available at over 30,000 locations in about 1,000 cities through Tata Motors Passenger Car dealerships, State Bank of India and its branches, its subsidiaries and associates, other preferred financiers, and outlets of Westside, Croma, ‘World of Titan’ and Tata Indicom exclusive stores.
After collecting the forms, customers have two options. They can either pay the entire booking amount themselves or seek financing of the booking amount.
For those who seek financing, Tata Motors has entered into agreements with 15 preferred banks/NBFCs for the Tata Nano booking loan product. The booking product offered by these banks will enable a Tata Nano to be booked by paying an amount starting Rs. 2999/- only. Their chosen financier will directly submit their application forms to the State Bank of India on their behalf.
Those, who choose to themselves pay their entire booking amount, can submit their application forms to State Bank of India through 1,350 notified branches in 850 cites, and also at Tata Motors Passenger Car dealerships, Westside and Croma outlets. Option to submit bookings online is available at www.tatanano.com.
Within 60 days of the closure of bookings, Tata Motors will process and announce the allotment of 100,000 cars in the first phase of deliveries, through a computerised random selection procedure. These 100,000 allotments will be price protected for the launch prices till delivery of the cars but the booking amounts will not bear any interest for the customers. Deliveries will commence from July 2009.
Applicants have the option to retain their booking deposit, even if they do not get allotment in the first phase. Those who choose this option will be eligible for interest on their deposit, effective from the date of announcement of allotment of the second phase, at a rate of 8.5% for retention period between one year to two year and 8.75% for a retention period of more than 2 years. Allotment of retainees will be simultaneously communicated, along with the allotment of the first 100,000 cars.

Standard model would cost roughly Rs. 1,25,000 onroad.

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So friend times come to cheers,Today 28 Jan 2009,Indian government on Wednesday announced further reduction in petrol and diesel prices by Rs 5 and Re 2 a liter, respectively. The consumer price of cooking gas was also reduced by Rs 25 a cylinder.
This is very good news because Crude oil had climbed to a record high of $147 a barrel in July, 2008, but has since come down to $40 a barrel level.
Our website just discuss this thing before read When petrol price degrade
So Now bot are in profit, I think this will change infliction rate of next week, but how long this price remain same that we have to see.
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Do you have suggestions for improving the blog, or types of content you’d like to see more of? We’re all ears, so please feel free to leave us a comment below. It’s a brand new year, and we’re ready to get started!

Day two petrol pumps strike running all over in india, In my word strike is solution of every problem.It is useless strike because we are facing problem from it.The oil sector officers’ association, an umbrella organisation of 45,000 employees in the public oil sector companies, called for an indefinite strike from Wednesday to coerce the government to give them wage hikes.
This is not a good way to slove our problem, we must find some other way rather then strike.

Now after day two every one facing problem from this strike,Most petrol pumps in the country started to run dry Thursday, the second day of the nationwide strike called by employees of public sector oil companies, while many leaders of the agitating workers went underground fearing arrests under the Essential Services Maintenance Act (ESMA).

Since morning there is a rush at more then 65% petrol pump in India.Now petrol pumps start to go dry all over in India.Meanwhile, gas supplies are severely hit in the western region, where the ONGC’s facilities have been shut down. Consequently, GAIL India has not been able to process gas and distribute it to its industrial consumers, chiefly fertiliser and power plants.

There are already reports of power shortages in Maharashtra, while over a dozen urea plants are shut down. If this continue then we must be ready to face some more problem in upcoming days.Many two wheeler riders were seen pulling their scooters or motorcycles, as they were out of fuel. However, most fuel pumps resumed work in the evening.

It is fight between petrol pump organisation and Indian government but why we suffer?
Lets hope this doesn’t worsen the slowdown in India.
Read treading rules before investing.
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Do you have suggestions for improving the blog, or types of content you’d like to see more of? We’re all ears, so please feel free to leave us a comment below. It’s a brand new year, and we’re ready to get started.

Every one know what happen today in Indian business history, this is a day show that how small investor are not safe. Everyone in the India IT space has been closely following the satyam fiasco. Its been written about in most newspapers. But what has taken the IT space by storm today is the resignation letter that has Ramalinga Raju, Chairman of SATYAM Computer Services Ltd. (one of the top 5 INDIAN IT companies) admitting to forging revenue numbers and having an inflated balance sheet of over 5000 crores. This is as bad as news can get in these times for corporate India.

Raju resigned from the Satyam board today (Jan. 07th, 2009). He wrote a letter to the Satyam board admitting that the IT major’s balance sheet has an inflated cash and bank balance of Rs 5,040 crore. The balance sheet has inflated accrued interest of Rs 376 crore in books is non-existent. Rs 1,230 crore was arranged to Satyam, which is not reflected in books. The Satyam scam is the biggest one after Harshad Mehta and Ketan Parekh.

Main things written in raju resignation later.
a) Inflated (non-existent) cash and bank balance of Rs 5,040 crore (as against Rs 5361 crore refglected in the books)
b) An accured interest of Rs 376 crore which is non-existent
c) An understated liability of Rs 1,230 crore on account of funds arranged by me
d) An over stated debtor position of Rs 490 crore (as against Rs 2651 reflected in the books)

This news has hammered the stock a lot, which touched a new 52-week low of 30.80. It has seen a drop of 77.51% to Rs 40.25, at close.

How can you expect auditors to be fair when they are paid by people who are to be audited. Dismiss all Senior functionaries who misrepresented accounts and penalise with punitive costs and damages.. Why should small investors pay for these fraudulent working group.

PWC was one of the auditors in this case… IL&FS sold 24.5 million shares yesterday @ 180 and today the fraud was out in open and the price was @ 30.80… So who lost? only the small investor.

Can somebody explain why IL&FS sold 24.5 million shares yesterday?

Guys small investor are not safe in stock market at this level, all in politicians running for making money in stock market.
Lets hope this doesn’t worsen the slowdown in India.
Read treading rules before investing.
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Do you have suggestions for improving the blog, or types of content you’d like to see more of? We’re all ears, so please feel free to leave us a comment below. It’s a brand new year, and we’re ready to get started

Hello friends INDIA’S Satyam Computer Services Ltd said it had postponed a board meeting until January 10 to consider the sale of a stake by the owners and a possible buy-back of shares.So please hold all your stock for some movement, after last week every one see what happen with satyam computer, So who protects the minority shareholders?

Worse still is that the World Bank announced it was banning the IT consultant from getting any contracts for eight years “for providing improper benefits to Bank staff and for failing to maintain documentation to support fees charged for its subcontractors.”

While it’s tempting to want to buy the shares in hopes of gaining from any bounce that might result from a bid for Satyam, there’s simply too much uncertainty surrounding the company to argue in favor of that. Currently, there is no bidder for the company (though the names of three private equity groups have surfaced as possibly being interested), the founder still remains firmly ensconced in the executive suite and has shot down rumors that he will go away quietly, and with investigations launched against it at the same time global institutions are shunning it, there’s little to recommend staking a claim here.

This show that little investor are not safe, every one can play with their money and it is the game of market.I would like to suggest that avoid all stock till Jan 2009, because in Jan 2009 companies quarterly result will going to declared and that show you who is in water.

This are top 5 stock at this time you must buy.
Top 5 stock buy for 2-3 years
Read treading rules before investing.
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