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Finance Forum India

Share your thoughts on finance education, economic developments, capital markets movements or your professional experience in the field of finance.

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Savings rate has been slashed - what now?!

Imagine the fate of your favourite team if the best player underperforms consistently?  This is what happens when you keep your money in a savings account.  It gets worse when banks lower their interest rates further like they did recently by slashing it to as low as 3%.  Stashing money in a savings account is similar to the best player suffering a long injury layoff.  The next question that arises is: What now? Will the team merely go through the motions and continue to languish in the doldrums, or will they explore other options?  If you are the proactive sorts, you...
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Credit Card Myths that can affect your Financial Management

The use of plastic money has increased and has now become a popular debt instrument. A credit card, a form of plastic money, allows you to avail of short-term credit. The debt may then be cleared at a later date. However, not many are aware of the working and the implications of such a debt instrument. Many have pre-conceived notions that are not entirely true. Following are five popular myths about credit cards: Getting such a card is not a good option Quite many individuals do not opt for such a card as they believe that it will lead to damaging...
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What is the Best Time to Start Investing in SIP?

A systematic investment plan (SIP) offers several benefits. It enables you to invest a small amount at regular intervals to grow your money. You may wonder when is the right time to start investing in an SIP. Experts recommend commencing at any time without relying on the market levels. You must not delay your decision because the index is at a high or low. Here are three things to keep in mind to determine when you must start investing in an SIP. Investing at current market levels Are you wondering whether it is advisable to invest in an SIP at current...
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The Consequence of Delay in Investing. Should you wait till 30?

For many, just the thought of financial planning strikes fear and anxiety. Most young people falsely believe that they have enough time to invest in the future and inevitably delay their investment process. It may be due to lack of awareness or out of sheer lethargy, but regardless of what keeps you from investing before you turn 30 and the proverbial reality check makes you take control of your finances – the consequences are precious years lost that could’ve earned you great returns. By “waiting for the right time”, you may be missing out on the power of compounding. Beginning your...
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Impact of Demonetization on Income Tax Slabs

The Indian population faced severe cash crunches after Prime Minister Narendra Modi announced demonetization on 8th November 2016. Long queues at the banks to deposit high currency notes and withdraw cash had become a usual sight. It has now been over two months since this announcement and the infusion of new currency notes has eased the difficulties faced by the people. Moreover, there is a lot of speculation on the next Union Budget, slated to be announced on 1st February 2017. After demonetization, the cash in the Automated Teller Machines (ATMs) was inadequate and there were long waits at banks. All...
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