Every salaried individual must be aware of this term Leave Travel Allowance/concession. LTA is a special allowance granted by the employers to their employees to meet their personal travelling expenses during a year. It’s included in the employee’s salary and is subject to certain tax exemptions. According to Sec 10(5) of the Income Tax Act [...]

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The long awaited RBI draft rules for licensing of new banks in private sector is out. RBI wishes to seek views on these guidelines from general public till Oct, 2011. No doubt it will broaden the horizon for banking operations in India. The new banking license includes the following guidelines: 1)     Eligibility criteria: Private groups [...]

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The yellow metal, gold astonished the whole economy by posting a single intraday rally of around Rs. 1310 climbing to a life time high of Rs 28,150 per 10 grams and USD 1,800/ounce last week. The surge in gold prices is basically due to the tension prevailing in our world economy. Rising inflation, slow down [...]

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Choosing the best mutual fund is not confined to its performance over a period of time. There are some other factors which have to be considered like, consistent performance, charges, expense ratio, risk, scheme size, fund house, etc. A close look on all the factors will help better understanding. Selection of fund house: It should [...]

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Issue of the retail bonds of SBI, the largest lender of country opened on 21st February and closed on Feb 28th 2011. Size of the bond issue was Rs 1,000 crore but has got 8.5 times oversubscribed to get Rs 8,580 crore subscription. The retail portion having a minimum of Rs 500 crore got subscribed [...]

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