A recent RBI Circular [1832/04.07.05/ 2009-10 dated 22nd February 2010] now clearly mandates that the branch/ clearing teams can return cheques which have alteration in the:
* Payee Name
* Amount in numbers
* Amount in words
Prohibiting alterations/ corrections on cheques:
No changes/ corrections should be carried out on the cheques (other than for date validation purposes, if required). For any change in the payee’s name, courtesy amount (amount in figures) or legal amount (amount in words), etc., fresh cheque forms should be used by customers. This would help banks to identify and control fraudulent alterations.
In most mutual funds schemes an investor can choose what s/he wants to do with the profit made on his investments — get it in hand (I mean bank account) or plough it back into the mutual fund scheme. Just a few days ago I was asked this question by a friend — which option should one pick while investing in a mutual fund — Growth or Dividend?
The answer — this post, explaining the difference that should be of benefit to all.
PROFITS
The basic difference is in the way the returns on investments are treated. In a growth option, any profit made on investment is not distributed but retained in the scheme. In a dividend option, the investor gets back the return as dividend. Continue reading “Investing in Mutual Funds – Dividend or Growth Option?” »
If you’re a Seller from India and accept monies into your PayPal account, well, PayPal has got some news.
PayPal has sent out the following email to users based in India:
In compliance with Indian regulations, if you are selling products and services to customers globally, please review the following important information:
• While making the withdrawal please make sure you select the
purpose code that best fits your business.
• If you would like to make purchases on any website that accepts PayPal, you can continue to use any
credit card issued by a bank in India.
For any questions, please reach out to our customer support teams by following the steps below:
1. Log into your PayPal account
2. Click “Contact Us” at the bottom of the page
3. Click on “Send Us” an email or “Call Us” to reach us by phone
We cannot thank you enough for your continued attention and patience.
photo by: Kavanjin Croatia Apartments
Imposition of service tax (from the next fiscal year) on under-developed housing complexes, as proposed in the Budget 2010-11, will lead to increase in property prices, according to real estate companies. Having said that, I’ve particularly noticed, after the budget, articles in newspapers / magazines refer to a similar line that reads — THE TIME IS RIGHT, BUY IT NOW..!
It is quite understandable that in the current scenario where property prices have risen drastically as much as 25 ~ 30% one of the main reasons of buying a house in an under-construction project was better rates, but with these extra add ons like Service Tax and VAT proposed to be levied — will only increase the cost of the property even further. Also, buying your first house has an emotional connection as well hence it is essential to be absolutely clear about why you are buying a home before starting the process.
Before starting any aspect of the process, ensure that you first get together with your family members and seriously consider this basic question — Why are you contemplating a property purchase?
Typically, there could be 5 reasons for wanting to buy a house: Continue reading “How To Identify The Right Reason Before Buying a House” »
Do you have a website or blog that is just lying around but you don’t get to update the site? If that is indeed the case, and you want to get rid of it in a direct manner, SiteRedeemr might be well worth a look. Basically, on the site you can fill in a form and a quote will be put your way.
This quote will vary according to factors like the site’s age, the topics it deals with and also the size of the website itself. If the quote meets your expectations, you can agree to carry out the transaction. The payment will be received in a PayPal account you have nominated beforehand. Note: At present they’ve mentioned on their site that they are offering up to $1000. Continue reading “How to Sell Your Unwanted Website for Cash with SiteRedeemr” »
