Recently GOI released the draft of Gold Monetization Scheme. The general public can share their views on draft Gold Monetization Scheme on or before 2nd June, 2015. As usual my financial planner friends passed their verdict on the Gold Monetization Scheme even before it is launched. In fact, some of them also suggested whether to invest in this scheme or not. Whereas other passed judgement whether the scheme will be a success or a failure. My dear friends forgot that Govt has only released the draft of Gold Monetization Scheme. Based on the inputs from the general public, banks and all other ... Read More
Should i invest in Kisan Vikas Patra ?
Kisan Vikas Patra was initially launched in the year 1988. Kisan Vikas Patra was one of the most popular and successful small savings scheme in India till it was withdrawn in 2011. The reason for withdrawal was laundering of Black money through this small savings scheme. "Double your Money in 5 and a half year" was USP of Kisan Vikas Patra during 90's. The investment discussion between my parents revolved around only 3 saving schemes i.e. NSC (National Savings Certificate), PPF (Public Provident Fund) or Kisan Vikas Patra. To be honest, not many options were available during those days. When i ... Read More
Withdrawal of Pre-2005 Notes : Master Stroke by RBI
Recently RBI said that all the Pre-2005 Notes will be withdrawn from circulation. Though RBI said that the objective of this exercise is to crackdown on counterfeit notes in circulation. RBI will replace Pre-2005 notes with New Currency Notes (With Enhanced Security Features). In my opinion, Crackdown on counterfeit currency in only one of the reason for this move. There is larger motive behind this Master Stroke. Lets understand how In India, till date no study is being done to find out the average life of Paper Currency Note. In response to RTI queries regarding average life of Paper ... Read More