Recently Govt have announced about developing a financial asset – sovereign Gold Bonds – as an alternative to purchasing Gold in physical form.Prime Minister Shri Narendra Modi will launch the Gold bond Scheme on Nov 05, 2015. Few details of Gold bonds are as follows: Basis of Gold Bond price issuance :Gold bonds will be…
FATCA & KYC Updates For Mutual Fund Investors:
As per recent notification from AMFI – Association Of Mutual Funds In India – mutual funds need to adhere following requirements from November 2015. Mandatory Additional KYC details : Investor need to provide additional KYC details like -Gross income,Occupation,Net-worth,political association etc.This set of details is captured in the scheme application form, in addition to standard…
7.43% REC Tax Free Bonds Oct 2015:
REC India – Rural Electrification Corporation -A Navratna status Govt Of India undertaking PSU have come up with an issue of Secured,redeemable Tax Free bonds.REC can raise Rs. 1000 crore through tax free bond issues in this financial year. REC was started in 1969 with an objective to finance and promote Rural electrification projects. Imp…