Diary

First put it all in writing with the names, dates, product suggested, etc.
Send this letter to the branch manager and the bank HO. Saying you will report this to RBI and the Ombudsman. If nothing happens write to RBI and the Ombudsman. Face it Ramesh YOU have nothing to lose.
- See more at: http://www.subramoney.com/2014/07/have-you-ever-been-mis-sold-a-product-read-and-comment-please/#sthash.aa836BKP.dpuf

Friday, May 02, 2014

NRI - Things to Complete

http://www.jagoinvestor.com/2013/01/10-things-to-complete-before-you-become-nri.html

http://www.thinkplaninvest.com/compare-nre-nro-and-fcnr-bank-accounts/

Thursday, March 27, 2014

Portfolio Analysis

http://www.valueresearchonline.com/story/h2_storyView.asp?str=24940#prettyPhoto

Tuesday, February 18, 2014

Liquidity -Grand Father Letter.

http://wisewealthadvisors.com/2014/02/18/buffett-why-liquidity-is-important/

http://www.ontargetcoach.com/earnest-buffetts-legacy/

(Letter written by Warren Buffett’s grandfather Ernest Buffett in 1939 is given below)

Dear Fred & Catherine,

Over a period of a good many years I have known a great many people who at some time or another have suffered in various ways simply because they did not have ready cash. I have known people who have had to sacrifice some of their holdings in order to have money that was necessary at that time.

For a good many years your grandfather kept a certain amount of money where he could put his hands on it in very short notice.

For a number of years I have made it a point to keep a reserve, should some occasion come up where I would need money quickly, with out disturbing the money I have in my business. There have been a couple occasions when I found it very convenient to go to this fund.

Thus, I feel that everyone should have a reserve. I hope it never happens to you, but chances are that some day you will need money, and need it badly, and with this thought in view, I started a fund by placing $200.00 in an envelope, with your name on it, when you are married. Each year I added something to it, until there is now $1000.00 in the fund.

Ten years have elapsed since you were married, and this fund is now completed.

It is my wish that you place this envelope in your safety deposit box, and keep it for the purpose that it was created for. Should the time come when you need part, I would suggest that you use as little as possible, and replace it as soon as possible.

You might feel that this should be invested and bring you an income. Forget it- the mental satisfaction of having $1000.00 laid away where you can put your hands on it, is worth more than what interest it might bring, especially if you have the investment in something you could not realize on quickly.

If in after years you feel this has been a good idea, you might repeat it with your own children.
For your information, I might mention that there has never been a Buffett who ever left a very large estate, but there has never been one who did not leave something. They never spent all they made, but always saved part of what they made, and it has all worked out pretty well.

This letter is being written at the expiration of ten years after you were married.
(Signed – Ernest Buffett, “Dad”)

Thursday, January 30, 2014

Quarterly annual Balance - Monthly annual Balance

http://www.bemoneyaware.com/blog/service-charges-on-saving-accounts-qab-mab/

QAB or MAB

Some of the private sector banks,like ICICI Bank and HDFC Bank have switched from QAB to MAB. What this means is that customers will have to keep higher balances. It impacts the small savings account holders the most. It increase the Fees income for the bank in the form of MAB charges
PSU banks like Bank of India , Allahabad bank generally have a lower Quarterly Average Balance to be maintained in saving bank account.
State Bank of India, which had imposed charges for non-maintenance of minimum balance a few months ago, rolled back the move and does not charge anything

Date	Description	Withdrawal	Deposit	Balance (B)	Days (D)	*Product (BD)**
1 Jan	Opening Balance			20,000	14	2,80,000
15-Jan	Withdrawal	15,000		5,000	23	1,15,000
7-Feb	Cash Deposit	8,000		13,000	53	689,000
				SUM	90 (C)	10,84,000 (D)
					QAB = D/C	12,044.44

Note that even though balance maintained was below 10,000 for 23 days, QAB requirement of Rs 10,000 is still met. (Calculations are shown in table below)

Date	Description	Withdrawal	Deposit	Balance (B)	Days (D)	*Product (BD)**
1 Jan	Opening Balance			20,000	14	2,80,000
15-Jan	Withdrawal	15,000		5,000	17	85,000
31 Jan	MAB for Jan			5,000	31	3,65,000/31=11774.19
1-Feb	Opening Balance			5,000	6	30,000
7-Feb	Cash Deposit	8,000		13,000	22	2,86,000
28-Feb	MAB for Feb				28	3,16,000/28=11285.71
1-Mar	Opening Balance	13,000		13,000	31
31-Mar	MAB for Mar				31	4,03,000/31 = 13,000

Tuesday, January 21, 2014

Senior Citizen and fixed deposit

http://www.way2goals.com/BestFdSeniors.php

http://www.jagoinvestor.com/2009/06/how-to-find-out-best-fixed-deposit.html