Author: root

Top 5 Popular Telecom Stocks In India 2021 To Consider After Telecom Relief Package

Personal Finance

[ad_1]

Read More/Less


Bharti Airtel

Bharti Airtel, often known as Airtel, is an Indian telecommunications services business headquartered in New Delhi

Over a three-year period, the stock returned 80.97 percent, compared to 46.34 percent for the S&P BSE Telecom index. The stock returned 80.97 percent over three years, compared to 49.67 percent for the Nifty 100.

Around 22% of Bharti’s debt is denominated in foreign currency and is not hedged. The rupee’s weakness might put pressure on the company’s bottom line. Annual sales growth of 13.17 percent surpassed the company’s three-year CAGR of 6.39 percent.

Vodafone Idea

Vodafone Idea

A share of a struggling telecom On the BSE, Vodafone Idea gained 7.01 percent intraday to Rs 9.30, compared to a previous closing of Rs 8.69. The Vodafone Idea share price is higher than the five-day, twenty-day, fifty-day, and hundred-day moving averages, but lower than the 200-day moving averages. Later, the shares finished at Rs 8.93, up 2.76 percent.

Telco AGR dues will be suspended for four years, according to the government. Telcos would also be able to give up unutilized spectrum. Telcos will be offered the option of turning a portion of their dues into government equity now and a portion of their dues into government equity after four years.

TataTeleservice

TataTeleservice

Tata Tele Business Services Limited, formerly Tata Tele Services Limited, is a Mumbai-based Indian broadband and telecommunications company. It is a subsidiary of the Tata Group, a conglomerate based in India. Stock returned 632.99 percent over three years, compared to 52.01 percent for the Nifty Midcap 100.

Over a three-year period, the stock returned 632.99 percent, compared to 46.34 percent for the S&P BSE Telecom index. In the fiscal year ended March 31, 2021, the company spent 149.58 percent of its operational revenues on interest charges and 4.73 percent on labour costs.

MTNL

MTNL

Bharat Sanchar Nigam Limited owns Mahanagar Telephone Nigam Limited, d/b/a MTNL, which is headquartered in New Delhi, India. MTNL operates in India’s metro cities of Mumbai and New Delhi, as well as the African island nation of Mauritius.

Mahanagar Telephone Nigam Ltd., founded in 1986, is a Small Cap business in the Telecommunications industry with a market capitalization of Rs 1,178.10 crore.Over a three-year period, the stock returned 17.72 percent, compared to 46.34 percent for the S&P BSE Telecom index. Stock returned 17.72 percent over three years, compared to 45.43 percent for the Nifty Smallcap 100.

Indus Tower

Indus Tower

Bharti Enterprises Ltd, another unit of the Indian multinational conglomerate, is ranked second among the Best Telecom Stocks to Buy. Bharti Infratel, now known as Indus Tower, is a tower and infrastructure provider. Only 2.65 percent of trading sessions in the last eight years had intraday gains of more than 5%.

Annual sales growth of 99.07 percent surpassed the company’s three-year CAGR of 28.41 percent. The stock returned -10.32 percent over three years, compared to 49.67 percent for the Nifty 100.

Disclaimer

Disclaimer

Other popular telecom stocks include Tata Communications, ITI Ltd., Tejas Network, and Reliance Communications.

This article is strictly for informational purposes only. It is not a solicitation to buy, sell in securities or other financial instruments. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates and the author of this article do not accept culpability for losses and/or damages arising based on information in this article.



[ad_2]

CLICK HERE TO APPLY

Leave a comment

Reserve Bank of India – Press Releases

Press Releases

[ad_1]

Read More/Less


Auction Results 91 Days 182 Days 364 Days
I. Notified Amount ₹9000 Crore ₹4000 Crore ₹4000 Crore
II. Competitive Bids Received      
(i) Number 82 91 85
(ii) Amount ₹30881.450 Crore ₹19065.050 Crore ₹11170.050 Crore
III. Cut-off price / Yield 99.1829 98.3356 96.5529
(YTM: 3.3044%) (YTM: 3.3944%) (YTM: 3.5800%)
IV. Competitive Bids Accepted      
(i) Number 30 23 46
(ii) Amount ₹8992.190 Crore ₹3999.932 Crore ₹3999.604 Crore
V. Partial Allotment Percentage of Competitive Bids 30.77% 38.29% 67.90%
(2 Bids) (1 Bids) (3 Bids)
VI. Weighted Average Price/Yield 99.1856 98.3391 96.5822
(WAY: 3.2934%) (WAY: 3.3872%) (WAY: 3.5485%)
VII. Non-Competitive Bids Received      
(i) Number 7 2 1
(ii) Amount ₹8457.810 Crore ₹500.068 Crore ₹0.396 Crore
VIII. Non-Competitive Bids Accepted      
(i) Number 7 2 1
(ii) Amount ₹8457.810 Crore ₹500.068 Crore ₹0.396 Crore
(iii) Partial Allotment Percentage 100% (0 Bids) 100% (0 Bids) 100% (0 Bids)

Ajit Prasad
Director   

Press Release: 2021-2022/867

[ad_2]

CLICK HERE TO APPLY

Leave a comment

HSBC simplifies cross-border transactions – The Hindu BusinessLine

Banking & Finance

[ad_1]

Read More/Less


HSBC India has launched a digital proposition aimed at simplifying cross-border transactions.

Called HSBC UniTransact, it aims to provide seamless integration of all aspects of transaction banking while minimising manual intervention through the transaction journey, it said in a statement on Wednesday.

It provides a range of benefits, including a comprehensive dashboard, real-time status throughout the life-cycle of all the cross border transactions, online discrepancy resolution, efficient management of documentation, alerts and notifications and seamless execution, it further said.

“The launch of HSBC UniTransact is aimed at unifying all the processes and interactions for our clients in any cross border transaction journey. From reducing the number of touchpoints they need to go through, to providing them end-to-end visibility of each transaction, we are confident that UniTransact will create a truly unique world class user experience for our clients,” said Hitendra Dave, General Manager and CEO, HSBC India.

[ad_2]

CLICK HERE TO APPLY

Leave a comment , ,

Survey of Foreign Liabilities and Assets of Mutual Fund Companies – 2020-21

Press Releases

[ad_1]

Read More/Less


Today, the Reserve Bank released the results of the 2020-21 round of the Survey of Foreign Liabilities and Assets of the Mutual Fund (MF) Companies[1].

The survey covered 44 Indian MF companies and their Asset Management Companies (AMCs), which held/acquired foreign assets/ liabilities during 2020-21 and/or in the preceding year (list given in the Annex). The stock of external assets and liabilities of their AMCs is taken from the annual census on foreign liabilities and assets of direct investment companies and the information on face value and market value of units held by non-resident, unit premium reserve and other foreign liabilities were collected under Schedule 4.

Highlights:

I. Mutual Fund Companies:

  • Foreign liabilities of MF companies stood at US $14.5 billion in March 2021, which were mainly in form of units issued to non-residents. Foreign assets of MF companies increased due to rise in equity security and other foreign assets during the year and stood at US $ 2.9 billion at end-March 2021 (Table 1).

  • UAE, UK, USA and Singapore together accounted for nearly 45 per cent of the total MF units held by non-residents, both at face value as well as at market value (Table 2 and 3).

  • Overseas equity investments of MF companies were largely concentrated in the USA and Luxembourg (Table 4).

II. Asset Management Companies:

  • Foreign liabilities of AMCs stood at US $ 5.7 billion in March 2021 whereas their foreign assets were much lower at US $ 0.1 billion (Table 5).

  • Non-residents in Japan and UK together held nearly 89 per cent of FDI of the AMCs (Table 6).

  • The relatively small overseas investments by AMCs were largely held in Guernsey, Singapore and Mauritius (Table 7).

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/866

Table 1: Mutual Fund Companies – Foreign Liabilities and Assets
Item End-March 2020 (R) End-March 2021 (P) % Growth
(₹ terms)
₹ crore US$ million ₹ crore US$ million
1 2 3 4 5 6
Foreign Assets 5,864 778 20,982 2,854 257.8
(a) Equity Securities 5,808 770 20,865 2,839 259.3
(b) Debt Securities – –  – –  – 
(c) Other Foreign Assets 56 8 117 16 108.9
           
Foreign Liabilities 72,564 9,626 106,249 14,455 46.4
(a) Market Value of Units 72,366 9,599 106,069 14,430 46.6
(b) Other Foreign Liabilities 198 26 180 24 -9.0
           
Net Liabilities 66,700 8,848 85,267 11,600 27.8
Face Value of Units 31,184 4,137 34,348 4,673 10.1
Notes: 1. The amount in US $ terms is arrived at by using the RBI reference rate (end-March).
2. Liabilities / Assets are valued at market prices unless stated otherwise.
3. Sum of constituent items may not add up to total due to rounding off.
4. – Nil/negligible.
5. R: Revised; P: Provisional.
6. These are also applicable for the remaining tables.

Table 2: Foreign Liabilities in Units of MF Companies at Face Value – Major Countries
(Amount in ₹ crore)
Country End-March 2020 (R) End-March 2021 (P) % Share in 2021 Annual Variation
Absolute Per cent
1 2 3 4 5 6
United Arab Emirates 5,640 6,376 18.6 736 13.0
United Kingdom 3,300 3,538 10.3 238 7.2
United States of America 2,898 3,093 9.0 195 6.7
Singapore 2,094 2,184 6.4 91 4.3
Oman 821 931 2.7 110 13.5
Qatar 614 797 2.3 183 29.8
Hong Kong 783 670 2.0 -113 -14.4
Saudi Arabia 553 645 1.9 92 16.6
Kuwait 544 629 1.8 85 15.6
Mauritius 600 486 1.4 -114 -19.0
Others* 13,338 14,999 43.6 1,661 12.5
   Of which: India 6,858 7,819 23.0 961 14.0
Total 31,184 34,348 100.0 3,164 10.1
*Others (comprised 241 countries) also includes non-resident Indians (NRIs), who use their Indian permanent address.

Table 3: Foreign Liabilities in Units of MF Companies at Market Value – Major Countries
(Amount in ₹ crore)
Country End-March 2020 (R) End-March 2021 (P) % Share in 2021 Annual Variation
Absolute Per cent
1 2 3 4 5 6
United Arab Emirates 12,247 19,232 18.1 6,985 57.0
United States of America 7,836 11,575 10.9 3,739 47.7
United Kingdom 6,616 9,565 9.0 2,949 44.6
Singapore 5,324 7,365 6.9 2,041 38.3
Mauritius 2,915 3,477 3.3 562 19.3
Oman 1,794 2,848 2.7 1,052 58.6
Qatar 1,369 2,534 2.4 1,165 85.1
Kuwait 1,237 1,961 1.9 724 58.5
Saudi Arabia 1,159 1,949 1.8 790 68.2
Hong Kong 1,501 1,807 1.7 307 20.4
Others* 30,368 43,756 41.3 13,391 44.1
of which: India 16,155 21,592 20.4 5,438 33.7
Total 72,366 106,069 100.0 33,703 46.6
*Others (comprised 241 countries) also includes non-resident Indians (NRIs), who use their Indian permanent address.

Table 4: Equity Securities held Abroad by Mutual Fund Companies at Market Value– Major Countries
(Amount in ₹ crore)
Country End-March 2020 (R) End-March 2021 (P) % Share in 2021 Variation
Absolute Per cent
1 2 3 4 5 6
United States of America 2,427 9,029 43.3 6,602 272.0
Luxembourg 2,536 8,867 42.5 6,331 249.6
Ireland 89 1,469 7.0 1,380 1550.6
Japan 125 340 1.6 215 172.0
Canada 180 308 1.5 128 71.1
Cayman Islands 83 287 1.4 204 245.8
United Kingdom 69 112 0.5 43 62.3
Taiwan 30 82 0.4 52 173.3
Hong Kong 22 66 0.3 44 200.0
Singapore 35 58 0.3 23 65.7
Others 212 247 1.2 35 17.5
Total 5,808 20,865 100.0 15,057 259.2

Table 5: Foreign Liabilities and Assets of AMCs
Item End-March 2020 (R) End-March 2021 (P) % Growth
(₹ terms)
₹ crore US$ million ₹ crore US$ million
1 2 3 4 5 6
Foreign Liabilities 33,300 4,417 42,257 5,750 26.9
(a) Direct Investment 28,130 3,731 34,279 4,664 21.9
(b) Portfolio investment 5,141 682 7,974 1,085 55.1
(c) Other Investment 29 4 4 1 -86.2
           
Foreign Assets 468 62 644 87 37.6
(a) Direct Investment 433 57 606 82 40.0
(b) Portfolio investment – – – – –
(c) Other Investment 35 5 38 5 8.6
           
Net Liabilities 32,832 4,355 41,613 5,663 26.7
Source: Annual Census on Foreign Liabilities and Assets of Direct Investment Companies, RBI
Note: – Nil/negligible.

Table 6: Foreign Direct Investment in AMCs – Major Countries
(Amount in ₹ crore)
Country End-March Variation
2020 (R) 2021 (P) % Share in 2021 Absolute Per cent
1 2 3 4 5 6
Japan 11,514 15,606 45.5 4,092 35.5
United Kingdom 13,436 14,748 43.0 1,312 9.8
Mauritius 1,270 1,389 4.0 119 9.4
Singapore 135 337 1.0 202 149.6
France 735 951 2.8 216 29.4
Netherlands 95 111 0.3 16 16.8
Canada 660 844 2.5 184 27.9
Hong Kong 179 192 0.6 13 7.3
United States of America 106 101 0.3 -5 -4.7
Total 28,130 34,279 100.0 6,149 21.9
Source: Annual Census on Foreign Liabilities and Assets of Direct Investment Companies, RBI

Table 7: Overseas Direct Investment by AMCs – Major Countries
(Amount in ₹ crore)
Country End-March Variation
2020 (R) 2021 (P) % Share in 2021 Absolute Per cent
1 2 3 4 5 6
Guernsey 326 494 81.5 168 51.5
Singapore 52 66 10.9 14 26.9
Mauritius 48 39 6.4 -9 -18.8
United Arab Emirates 7 7 1.2 0 –
Total 433 606 100.0 173 40.0
Source: Annual Census on Foreign Liabilities and Assets of Direct Investment Companies, RBI
Note: – Nil/negligible.

1 The results of the previous survey round for the year 2019-20 were released vide press release dated October 20, 2020.

[ad_2]

CLICK HERE TO APPLY

Leave a comment

MFs sold YES Bank, Vodafone Idea; tweaked stakes in these Jhunjhunwala stocks, BFSI News, ET BFSI

Personal Finance

[ad_1]

Read More/Less


NEW DELHI: Domestic fund managers pared stakes in retail favourites Vodafone Idea and YES Bank, and tweaked their holdings in certain Rakesh Jhunjhunwala-backed companies, the monthly data for August suggest.

Data showed MFs held YES Bank shares worth Rs 137 crore as on August 31 compared with Rs 155 crore at the end of July. During the month, they trimmed their holding in the private lender to 15.15 crore shares from 17.67 crore shares. Retail and HNI investors owned 32.32 per cent stake in the lender at the end of the June quarter.

Vodafone Idea — where retail and HNI investors account for 17.73 per cent of the total 27.95 per cent public holding — also saw selling by mutual funds. These funds held 13.10 crore shares in the telecom operator as on August 31 compared with 30.04 crore shares as on July 31. In value terms, MFs now hold Rs 80 crore worth of Vodafone shares compared with Rs 248 crore shares earlier.

Lupin, where Rakesh Jhunjhunwala holds shares worth Rs 700 crore, was among the top MF buys for the month. Mutual funds held 5.92 crore Lupin shares as on August 31 compared with 5.13 crore in July. In value terms, they owned Rs 5,668 crore worth of Lupin shares compared with Rs 5,676 crore in July.

In Escorts, MFs held 88 lakh shares worth Rs 1,184 crore at August-end, against 73 lakh shares worth Rs 860 crore as of July-end. Jhunjhunwala owns about Rs 880 crore worth of Escorts shares as of today.

MFs sold YES Bank, Vodafone Idea; tweaked stakes in these Jhunjhunwala stocks
Jhunjhunwala, often called Big Bull, entered Indiabulls Housing and SAIL in the June quarter. While SAIL was the funds’ biggest sell in the largecap pack, Indiabulls Housing was their biggest buy in the smallcap pack, data compiled by ICICI Direct suggests.

MFs held Rs 1,962 crore worth SAIL shares at August-end, against Rs 2,987 crore at July-end. They owned Rs 344 crore worth Indiabulls Housing shares as of August-end, up from Rs 277 crore at July-end. Jhunjhunwala owns about Rs 700 crore worth of SAIL shares and just over Rs 200 crore worth of Indiabulls Housing shares.

MFs sold YES Bank, Vodafone Idea; tweaked stakes in these Jhunjhunwala stocks
Jubilant Ingrevia, another stock Big Bull has invested in, was on MFs’ sell radar. Funds cut their holding in this stock to Rs 38 crore from Rs 73 crore on a month-on-month basis. In Edelweiss Financial Services, mutual funds’ holding fell to Rs 55 crore from 95 crore.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , , , ,

Reserve Bank of India – Press Releases

Press Releases

[ad_1]

Read More/Less


I. T-Bill 91 days 182 days 364 days
II. Total Face Value Notified ₹9,000 Crore ₹4,000 Crore ₹4,000 Crore
III. Cut-off Price and Implicit Yield at Cut-Off Price 99.1829
(YTM: 3.3044%)		 98.3356
(YTM: 3.3944%) 		96.5529
(YTM: 3.5800%)
IV. Total Face Value Accepted ₹9,000 Crore ₹4,000 Crore ₹4,000 Crore

Ajit Prasad
Director   

Press Release: 2021-2022/865

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Auto debit transactions: Bounce rates in August near pre-second wave levels

Banking & Finance

[ad_1]

Read More/Less


Bounce rates for auto-debit transactions in August were at similar levels as March 2021 as businesses and borrowers shrugged off the impact of the second wave of the Covid-19 pandemic.

According to data from the National Payments Corporation of India from the National Automated Clearing House (NACH), the bounce rate or percentage of unsuccessful auto-debit transactions in August 2021 was 32.98 per cent.

This is the lowest since March 2021 when the bounce rate was 32.76 per cent. In all, a total of 8.76 crore auto-debit transactions were reported on the NACH platform in August, of which 5.87 crore were successful and 2.89 crore were returned or unsuccessful.

Also read: Resilient demand keeps driving India’s world-beating growth

Typically, auto-debit transactions are for recurring payments such as EMIs and insurance premiums although it does not capture intra-bank transactions. With the second wave of the pandemic leading to localised lockdowns and impacting economic activities, bounce rates had started to climb up from April 2021 after easing from December 2020.

In the last two months, as Covid cases have come down in most parts of the country and the economy has opened up again, bounce rates have started coming down again. Many lenders have reported that collection efficiencies have returned to normal and are at the pre-second wave levels.

“The collection efficiency was reported at about 97 per cent for August 2021, further improving on 95 per cent reported in July 2021 (collection efficiency in April, May and June was 72 per cent, 67 per cent, 90 per cent respectively),” Mahindra Finance had said, recently.

Also read: Latest PLFS suggests India’s labour market is reviving post-pandemic but some segments are hit

With the opening of the economy and improved mobility, it witnessed a meaningful reduction in the NPA contracts during the month as customer cash flows improved and said it expects the downward trajectory to continue in September.

Similarly, CreditAccess Grameen reported that standalone collection efficiency including arrears improved to 99 per cent in August 2021 from 97 per cent in July 2021 and 84 per cent in June 2021, indicating consistent improvement in overdue collections.

[ad_2]

CLICK HERE TO APPLY

Leave a comment , , ,

Will LIC Kanyadan Policy Be Apt For Accumulating Wealth For Your Daughter’s Wedding?

Personal Finance

[ad_1]

Read More/Less


Planning

oi-Roshni Agarwal

|

LIC- the IPO bound, largest public and most trusted insurance company has plan to meet each of the financial goal. Lately, to meet the marriage goals of your daughter and to have an adequate sum ready by that time, LIC has come up with LIC Kanyadan plan.

Will LIC Kanyadan Policy Be Apt For Your Daughter's Wedding?

Will LIC Kanyadan Policy Be Apt For Accumulating Wealth For Your Daughter’s Wedding?

Here’s in detail about the plan

Notably, there is no such plan by LIC in the name of LIC Kanyadan, rather in a bid to attract more and more customers and target parents of a girl child towards the investment, LIC Jeevan Lakshaya has been marketed with the ‘LIC Kanyadan’ tagline.

Notable features of the plan:

1. Eligibility: The subscriber or the policyholders needs to be between 18-50 years of age.
For the girl child, the minimum age criteria is set at 1 years.

2. Minimum sum assured : Rs. 1 lakh
3. Premium waiver available in case of untimely and sudden death of the insured parent
• Rs lakh payable in case of accidental demise, Rs. 5 lakh in case of non-accidental demise
• Benefit of Rs. 50000 payable every year till the maturity
• LIC cover of up to 3 years before the maturity.
• NRIs can also avail of the policy.

Different benefits of the policy under the plan

-Limited premium paying term which is 3 years less than the policy maturity term
-In case of death of the policyholder, 1% of the sum assured shall be paid annually until one year before the maturity date.

Maturity tenure can be 13years to 25 years

Premium calculation:

Say if wish to opt for a Rs. 10 lakh sum assured under the plan, for a term of 13 years, the premium paying term will be for 10 years and it would offer
DAB – Rs. 10 lakh
Death sum assured – Rs. 11 lakh
Basic SA- Rs. 10 lakh

1st year premium based on All in one Calc app will be Rs. 102937 annually
Half yearly- Rs. 52003
Qtrly- Rs. 26269
Mthly- Rs. 8756
Yearly average per day premium – Rs. 282.

Note this insurance premium is inclusive of 4.5% tax.

Additionally the disability rider is applicable in case of tenure of atleast 5 years for the policy.

Illustration for the maturity benefit

Supposing you take the policy term to be 15 years then for a SA of Rs. 5 lakhs with a premium payment term of 12 years, the maturity amount in case the sum insured survives will be Rs. 8.17 lakhs.

Comparison with Sukanya Samriddhi Scheme

While the Sukanya Samriddhi scheme targeted to meet the financial obligations towards a girl child offers a good interest rate and the compounding will enable you to aggregate wealth down the line, it lacks in the sense that there is no security extended in case the parent meets an untimely death. Nonetheless the same is available with LIC Kanyadan as immediate relief is granted on financial terms considering the SA amount until one year before the maturity term and also premiums are waived in case of death of the insured parent.

GoodReturns.in



[ad_2]

CLICK HERE TO APPLY

Leave a comment

LIC Saral Pension 2021: Suitable Lifetime Pension Option For Senior Citizens

Personal Finance

[ad_1]

Read More/Less


Insurance

oi-Kuntala Sarkar

|

LIC’s Saral Pension Plan, 2021, which has been launched recently is being noticed largely. This Annuity plan is a non-linked, individual immediate policy, that can be purchased only by paying a lump sum amount to get a fixed payment at regular intervals for the rest of the life. LIC has designed this plan to provide “for annuity payments of a stated amount throughout the lifetime of the annuitant.” Earlier, the IRDAI, the apex insurance regulatory authority of India, had advised all insurance companies to introduce this scheme, hence LIC has now launched this Saral Pension Plan, 2021.

LIC Saral Pension 2021: Suitable Lifetime Pension Option For Senior Citizens

Benefits and rules under the plan

An immediate annuity policy like Saral Pension Plan means, when the policyholder will take the plan, the pension will start immediately. It is a single premium pension plan, which means, the policyholder will have to pay the total lump sum amount once at the time of policy purchase. People who are aged between 40 and 80, years can purchase the LIC Saral pension plan, However, it is an appropriate plan for the people who have a lump sum amount to invest, to secure the rest of the life.

Annuity or pension options

A major benefit of this plan is it will offer 2 annuity options after a one-time lump sum amount payment. The 1st one is the ‘life annuity with return of 100% of purchase price’, which is a single life option. Till the policyholder will be alive, the fixed pension amount will be paid, after his/her death the base premium will be given back to the nominee. However, the GST paid at the time of premium will not be payable, only the base payment will be given back. The second option is the ‘joint life last survivor annuity with return of 100% of the purchase price on death of the last survivor’, which includes 2 life partners under the plan. Any one of the partners, who will live longer, will get the fixed pension. The pension amount is given to the primary policyholder, the same fixed amount will also be given to the secondary policyholder. Like the earlier one, the base premium amount will be given back to the nominee.

Annuity or pension modes

It is quite a simple plan to understand by every citizen, who is willing to secure their sunset days as it is a whole life policy-term plan. The minimum sum assured is of this plan is Rs. 1,00,000. Like other insurance and pension plans, LIC’s Saral Pension Plan also has the provision of monthly, quarterly, and half-yearly annuity or pension modes. If the policyholder chooses the monthly mode, the pension will start one month after the policy is taken, similarly to other modes.

In case of critical illness, the policyholder can surrender the plan and take the money back. In case of that, 95% of the purchased plan will be paid to the policyholder.

Loan facility

The policyholder can avail of the loan facility after 6 months of commencement of the plan. However, the maximum amount of loan that can be granted shall be such that the effective annual interest amount payable on the loan does not exceed 50% of the annual annuity amount payable. If the loan is taken within April 30, 2020, the interest rate of the loan will be 8.44% per annum.

Calculation of annuity amount (both options)

Sum Assured (INR) Single premium Annuity (Yearly) Annuity (Quarterly)
500000 509000 25000 6100
1000000 1018000 50650 12363

These calculations have been done by GoodReturns, through the ‘All in one CALC’ mobile application.

This LIC’s Saral Pension Plan, 2021 is a suitable plan for senior citizens who have a lump sum amount of money to pay at once. At the time of retirement, (ex: at the age of 60), an investor can take this policy. When the person will retire and get her/his Provident Fund amount, Gratuity amount at once, it will make a lump sum amount. The amount can be placed to a Fixed Deposit option, but in the case of LIC’s Saral Pension Plan, 2021, the policyholder will get a fixed regular pension from LIC, with the assurance of base premium paid to the nominee. The FD interest rates are being reduced by the banks now, and this pension will be a better alternative for those senior citizens who are interested to secure their old age.

Story first published: Wednesday, September 15, 2021, 14:28 [IST]



[ad_2]

CLICK HERE TO APPLY

Leave a comment

SBI’s Amit Saxena joins RBI Innovation Hub as CTO, BFSI News, ET BFSI

Banking & Finance

[ad_1]

Read More/Less


Amit Saxena, Global Deputy CTO of State Bank of India joins RBI Innovation Hub as the CTO today.

On Aug 6, 2020, the Reserve Bank announced that it would set up Reserve Bank Innovation Hub (RBIH) to promote innovation across the financial sector by leveraging on technology and creating an environment that would facilitate and foster innovation.

The RBIH shall create an ecosystem that would focus on promoting access to financial services and products. This will also promote financial inclusion. The Hub will collaborate with financial sector institutions, the technology industry, and academic institutions and coordinate efforts for the exchange of ideas and development of prototypes related to financial innovations. It would develop internal infrastructure to promote fintech research and facilitate engagement with innovators and start-ups.

As the CTO of Reserve Bank Innovation Hub, Saxena will be tasked with building an innovation ecosystem for India’s banking and financial services industry. In his new position, Saxena will be based in Bangalore and will report to Rajesh Bansal CEO of RBI Innovation Hub.

Saxena has over 22 years of experience in IT Strategy formation, Application development, Stakeholder Management, and product development. At SBI played a leading role in driving digital initiatives and innovations in customer-centric journeys. Before joining SBI, Saxena worked for companies like Syntel, HCL technologies, TechMahindra, and Quark.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , ,
1 … 334 335 336 337 338 … 16,278