25 NDTV Greatest Global Living Indian Legends

To commemorate the 25^th Anniversary of NDTV, 25 Greatest Living Indian Legends Globally renowned were felicitated by NDTV & TCS with Living Legend awards for the famous personalities in their respective fields of Business, Social Work, Sports, Entertainment, Science, Art & Literature.

Read More

Subramoneyplanning.blogspot.com to Subramoneyplanning.com

Announcing Blog to Website

After 2 years stint on the Blogspot publishing platform, I have finally decided for moving to a newer publishing .com platform/domain.

As you all know there is a quote from Heraclitus that "The Only Thing that is Constant is Change";

According to this quote,

Read More

Prepayment of Home Loans Penalty Charges

Owning a Home or Property is the most predominant dream and goal of any middle class or salaried people;

But due to long tenure of repayment of home loans & high interest amounts, many individuals don't want to wrongly commit & make unnecessary decision

In relief to existing home loan borrowers & those willing to become home loan borrowers, RBI has announced abolishment of

Read More

Crossing of Cheque - Kinds

Cheque are usually crossed as a measure of safety. The act of drawing two parallel cross lines on the face of the cheque is called crossing of cheque. The crossing distinguishes cheques from other bills of exchange. The object of general crossing is to direct the drawee banker to pay the amount of cheque only to a banker, to prevent the payment of the cheque being made to wrong person.

Read More

Features of a Cheque

As we know that Cheques are reliable, convenient, and widely accepted by businesses (although proper identification may be required). There so many features of a Cheque.

The following are the important features of a cheque:

   # It is an negotiable instrument in writing. It may be hand written by ink or typed or printed but writing in pencil is not allowed.

   # No stipulatory conditions should be there (i.e., an unconditional order)

   # A Cheque must be drawn on specified bankers only. A cheque contains

the name of the bank and place of the branch.

Read More

Forms / Types of Cheque

A Cheque (in India) or Check (in US) is a piece of paper that authorizes a bank to take a certain amount of money from your account and pay that amount to another person or business, or to you as cash.

Forms of Cheque

There are two types of Cheque. They are 1) Open Cheque and 2) Crossed Cheque.

Forms / Types of Cheque

Read More

What is a Cheque: Meaning & its Definition

As per section 6 of Negotiable Instruments Act 1881, “A Cheque is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand”. Thus it is an instrument in writing containing an unconditional order signed by the writer / maker directing a specified banker to pay on demand, a certain sum of money, or to the  particular person or to the bearer of the instrument.

Read More

Top 10 MNC CEOs: 2012

The Economic Times, in partnership with IMRB International has announced top ten powerful MNC CEOs for the year 2012 who are developing and reshaping Multinational Companies / Corporates in India.

Below is a list of the top 10 most powerful MNC CEOs for the year 2012:

Top 10 most Powerful MNC CEOs 2012

Read More

20 Most Powerful CEOs: India 2012

Top 20 most Performing CEOs in India

The CEO is the top most position in the management level of an organization. He is the decision maker and is highly responsible person for the Company's growth and development. 

Read More

Avoiding Cigarettes, Alcohol can Save Money: Saving Sundays

Giving up expensive habits like cigarettes, alcohol, and drugs will lead to saving more money for you. Those habits will reduce money outflow which provides no benefits in return. Work hard to kick out these habits slowly and you’ll find that money flow will increase instead of burning up.

If you quit smoking/alcohol at your 20’s, your body is likely to fully recover as still you are youth. Quitting in your 30’s will increase your chances of starting a healthy family life. If you quit at 40 it is not too late to benefit from your life insurance premiums.

Every time you think about alcohol, cigarette or drug, just say “NO” to it, & take the money you saved and keep it in a separate box.

Read More

Different Kinds of Banks

Do you need to know what would be various Kinds / Types of Banks i.e., Different Number of Banks  available in Banking Industry in India? Just proceed further to know about it...

1. Saving Banks

Saving banks was founded to be a secure place for salaried people and low income groups to save money for a rainy day. Saving banks were established to encourage saving habit among the people to earn more money. At present, Post offices & Commercial banks act as the saving banks.

2. Commercial Banks

A commercial bank is a financial institution organized as a joint stock company that operates for earning profit. Commercial banks are established with an objective to help businesses to develop economy. These banks collect money from general public as deposits and give loans to different sectors of economy that are in need of money.

Read More

Characteristics / Features of a Bank

From the Definition of Banking mentioned in earlier post, the Characteristics / Features of a Bank may be listed as follows:

1. Dealing in Money

Bank is a business activity which deals with other people's money i.e. getting money from depositors and lending the same to borrowers.

2. Banking Business

A bank is a financial institution which does banking activities of selling financial services like home loans, business loans, lockers, fixed deposit etc., In order to enable people to confirm that it is a bank and is dealing in money, for easy identification, a bank should add the word "bank" as its last name.

Read More

History of Bank

EVOLUTION OF BANKING IN INDIA

The first public banking institution was The Bank of Venice, founded in 1157. The Bank of Barcelona and the bank of Genoa were established in 1401 and 1407 respectively. These are the recognized forerunners of modern commercial banks. Exchange banking was developed after the installation of the Bank of Amsterdam in 1609 and Bank of Hamburg in 1690.

The credit for laying the foundation of modern banking in England goes to the Lombards of Italy who had migrated to other European countries and England. The bankers of Lombardy developed the money lending business in England. The Bank of England was established in 1694. The development of joint stock commercial banking started functioning in 1833. The modern banking system actually developed only in the nineteenth century.

Read More

Bank : Origin & Definition

Origin of the term ‘Bank’

The term ‘Bank’ seems to have originated and/or derived from different sources like the Germanic word ‘banck’, the French word ‘banque’ and the Italian word ‘banco’. The Germanic word ‘banck’ which means a joint stock fund or heap. The Italian word ‘banco’ refers to a bench at which the money changers used to change one kind of money into another and transact their banking business. Thus, in olden days, banking was associated with the business of money changing/lending.

Read More

What is Bank and Banking? : Introduction

In this series of Banking Basics, you will be able to grasp and know all of the following fundamentals of Banking such as Bank and Banking: Introduction, Origin, Definition, History, Features of Bank, Types of Bank, Role of Bank in economic development, How to open Bank Account, Advantages of Opening Bank Account, Cheque, Demand Draft, Types of Deposits: Fixed Deposit, Recurring Deposit etc.,

Meaning of Bank & Banking

Read More

How Does the Indian Stock Market Work?

For a new investor, the stock market can make them feel a lot like legalized gambling market but reality is different as it is driven by supply and demand chain where buying and selling of stocks happen. The supply is determined by the availability of number of stocks for sale and the demand indicates the reverse of it i.e., number of shares that investors want to buy from the seller. It's important here to note that if anyone bought / purchased a share, then it implies that someone was ready to sell that share  on the other end and vice versa. The demand for stock can change due to the mindset of the investors driven by following factors:  Economic fundamentals, Income / Wealth / Taste of consumers, Fear of defense failure, or Company earnings etc.,.

Read More

Indian Stock Exchanges: History & Introduction to Beginners

Stock exchanges

Stock exchange means anybody of individuals, whether incorporated or not constituted for the purpose of regulating or controlling the business of buying selling or dealing in securities. The Stock exchanges deal with Securities which include:

i)                  Shares, scrips, stock, bonds, debenture stock or other marketable securities of a like nature in or of any incorporated company or other body corporate.

ii)                 Government Securities and

iii)               Rights or interest in securities

The Securities Contracts (Regulations) Act, 1956 defines stock exchange “as an association, organization or body of individuals, whether incorporated or not, established for the purpose of assisting, regulating and controlling the business of buying, selling and dealing in securities”.

Read More

PRINCIPLES OF INSURANCE

In continuation to Basics of Insurance Planning regarding what is Insurance and history of insurance, let’s now know the principles applicable to Insurance.

A contract of insurance is a mercantile contract. All the principles which are applicable to mercantile contracts are applicable to contracts of insurance. In addition to this, there are special principles applicable to contracts of insurance.

Special Principles of Insurance are as follows,

1. Insurable Interest

“Ownership should be there to evaluate financial (insurable) interest”

Insurable Interest is must for validating the contract of insurance. Insurable interest must be a financial / pecuniary interest. A person is said to have insurable interest in a property when he enjoys benefit from its existence and suffers by its destruction or loss.

Read More

Why do we need Insurance Planning ?

CAN YOU BE SURE AS TO WHAT MAY HAPPEN TO “U” IN THE NEXT FEW MINUTES???...

DO YOU WANT TO BE FINANCIALLY SECURE IN THE EVENT OF ANY UNFORESEEN CALAMITY???...

As you know like this Life is full of uncertainties & unpredictable events, so insurance is needed to provide peace 0f mind for you;

The following Insurance benefits will provide you some idea on why do you need Insurance Planning in present situation. Need for Insurance Planning can be segregated as & known by

1) Common Insurance Benefits; 2) Life Insurance Benefits and 3) General Insurance Benefits

Common Insurance Benefits

     #      Provides the much required UNAVOIDABLE RISK COVER for us;

     #      Providing replacement income for your dependents on any unforeseen events

     #      You can’t find any parallel substitute in the financial world for the risk cover that is provided by insurance

     #      Money back plans provide risk cover & liquidity as it returns a portion of the sum assured at regular intervals to us.

    #      Unit linked plans combines market linked high risk returns along with risk cover

    #      To protect ourselves and family from financial risk

Life Insurance Benefits

Read More

History of Insurance

Next to understand after Insurance basic knowledge is Stages of Insurance history in crisp.

    #      It started from Lloyd’s coffee house London

    #      First policy issued in England in 1583

    #      It had its origins in the early 19th century with the arrival of British enterprise in India.

    #      The insurance sector in India dates back to 1818 when first insurance company, The Oriental Life Insurance Company, was established, at Calcutta.

    #      LIC of India formed in 1956 after nationalization of life insurance Business of 245 private (Indian and Foreign) insurance companies

    #      The Life Insurance Corporation of India (LIC) came into existence by an Act of Parliament, viz. LIC act, 1956, with a capital contribution of Rs.5 Crores from the Government of India

    #      The General Insurance Business (Non-Life) in India started with the establishment of Triton Insurance Company Limited in 1850 at Calcutta by the British.

    #      General insurance business of 107 insurance companies was amalgamated and nationalized in 1972 & four public sector General Insurance Companies were formed namely, the National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd. and the United India Insurance Company Ltd.

Read More