Long-term Infrastructure Bonds

History of Infrastructure Bonds These bonds were earlier offered by financial institutions such as UTI, ICICI and IDBI, and had a lock in period of 3 years. Infrastructure Bonds are not new to India. They have been used by the government in the precedent years, for infrastructure projects. Section 88 of the Income Tax Act offered tax deductions on investments of up to Rs. 30,000, in these infrastructure bonds. However, with the 2005-2006 union budgets, section 88 was scrapped. This Section 80CCF is valid to Individuals and to Hindu Undivided Family (HUF) only. Deductions could be up to a maximum amount of Rs 20,000 from the taxable income, for any amount invested in long term infrastructure...

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Links

Following are some useful sites Links. Please visit then for more information Indian Cook Book Hit Lyrics of Famous Stars Funny Visuals desi jokes hindi language Fun and Humor Fine Art Photography Picture Gallery Discover breathtaking pictures that allows you to create a unique home that will refresh, and uplift your soul. Also makes a wonderful gift idea. Enjoy free screensavers, free wallpaper, and enter a free contest ! Forex Trading Online Want to learn more about forex trading? This website, The Forex Trader, has valuable tips, hints and tutorials on forex trading, forex systems, forex brokers, charting software, money management, and much more! CFD Trading Online Want to learn...

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UCO Bank drops FPO plan for this fiscal

State-owned UCO Bank has dropped its plan of raising capital through a Follow-on Public Offer (FPO) in this fiscal, saying it is adequately capitalised. "There is no need for an FPO because the capital requirements have been met with funds from the Government...We will not go for an FPO in the current financial year," the bank's chairman and managing director, Arun Kaul, told the news agency here. The Kolkata-headquartered bank had drawn-up plans of raising up to Rs400 crore through an FPO which would have seen the Government diluting its stake from 70% to 58.6%. "The Government has already given me non-equity Tier-I capital that is perpetual debt in preference capital that has strengthened...

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Next SLBC meet crucial for UBI & Uco Bank Read more: Next SLBC meet crucial for UBI & Uco Bank

Just when the hangover of the New Year revelry and excursions ends in a week, the two commercial lead banks operating in their respective districts in the state would be flipping through papers or just be seized with giving finishing touches to a matter of different kind other than the handling of their routine banking transactions to tie up the loose ends. For, at the 34th State Level Bankers' Committee (SLBC) meeting held here on December 13, it was decided that they achieve 100 per cent financial inclusion of the families (households) in their allotted districts by December end last year, since their performance did not match with other banks till September 30. Deputy CM Sushil Kumar Modi...

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Temple town with doorless homes gets a bank with no lock

Shani Shingnapur, the world famous temple town in Maharashtra where houses have neither doors nor locks, now befittingly has its first commercial bank branch - with no locks on its front door! The public sector UCO Bank is the first to throw open the doors of commercial banking to this unique town of 3,000 people. Bowing to local religious sentiments, the bank last week decided to open the branch without a lock on its front door. The people of Shani Shingapur fix only door frames, but no doors to their homes and no locks for their safety lockers because they believe the temple is a "living abode" of Lord Shani, the ruling deity. And so strong is the belief that no one dares to attempt...

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Kingfisher issues basket of securities to restructure debt

Private air carrier Kingfisher Airlines today said its board has alloted preferential shares to a consortium of lenders, besides promoter group firms United Breweries (Holdings) and Kingfisher Finvest India Ltd, under a scheme to recast its debt. According to a filing to the Bombay Stock Exchange, the company has allotted a total of 139.81 crore compulsorily redeemable preference shares (CRPS) of Rs 10 face value -- and a coupon rate of 8 per cent -- to the lenders'' consortium and its promoter group firms to cover its outstanding loans. Out of these, 75.01 crore CRPS will be issued to the lenders'' consortium -- comprising SBI, IDBI Bank, Punjab National Bank, Uco Bank, United Bank of India,...

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Mutual Funds Industry in India

Mutual Funds Industry in IndiaInvestment in India India is a potential market for overseas investment and is vigorously welcoming the foreign investors in the market. India among the European investors is measured to be a good investment even with the political ambiguity, bureaucracy dilemma, scarcity of power and infrastructural inefficiencies. It will come into view as one of the top three promising economies. Once you enter India's marketplace, you will have an ingenious plan that should be supported by a serious thought and careful research. Those who look at India as a long-term growth will gather more profits rather than those who will see only short-term profit making opportunities....

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Mutual Fund houses in India

Mutual Fund houses in India In current years, many mutual fund companies have growing up in India. Now the investors have lots choices of mutual fund companies in India. The number of Indians investing their money on mutual fund is gradually increasing. More and more people are being lured by the outlook of handsome profits that investments in mutual funds carry for the investors. Birla Sun Life Mutual Fund This mutual fund house starts his mutual fund business very early. It is very popular because of its tax saver mutual funds & ELSS funds. This Mutual Fund has been capable to gain the trust of investors in India and become one of the major mutual fund companies in India. A few...

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Tax-saver Mutual Fund Schemes

Tax-saver Mutual Fund Schemes The tax-saving mutual fund schemes are one of the important types of mutual funds in India that investors can choose for. Investors in India go for the tax-saving mutual fund schemes for the straightforward basis that it helps them to save money. The tax-saving mutual funds or the equity-linked savings schemes (ELSS) entertain definite tax exemptions under Section 88 of the Income Tax Act. That is one of the reasons why the investors in India add the tax-saving mutual fund schemes to their portfolio. The tax benefit that an investor derives from the tax-saving mutual fund schemes, should be looked upon as an adjoin feature. Investing in equities is a risky plan...

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