Sunday 25 October 2015

RBI guidelines for Gold Monetisation Scheme


The Reserve Bank of India (RBI) on Thursday issued directions for banks on implementation of the Gold Monetisation Scheme approved by the government.
  
  • In gold monetisation scheme, customers can deposit their gold and earn interest on it. 
  • Banks can accept a minimum of 30 grams of the precious metal of 995 fineness in the form of a bar, coin or jewellery under the scheme. There is no upper limit on the amount of gold deposit.  
  • All scheduled commercial banks have been allowed to offer this scheme. The designated banks are free to fix the interest rates on these deposits.

Saturday 24 October 2015

Tax Benefits of Life and Health Insurance Policies in India



Insurance policies whether it is Life Insurance or Health Insurance, not only safeguard your life and health but also give you tax benefits for the premium paid and maturity amount received. The first step of a financial planning start with getting yourself adequately insured.

Life Insurance Policy is a traditional plan which includes term plans, ULIPS (unit linked insurance plans), money back and whole life cover plan. All the above plans are combination of investment as well as insurance except term plan which gives you pure insurance.