FLAME Newsletter - April 10, 2013


"You may open bank accounts, you may provide some remittance facilities, you may also provide some emergency overdraft or consumption credit. But, bank credit per se cannot be a fundamental right” — Dr KC Chakrabarty, Deputy Governor, RBI


What do credit ratings mean?

Credit rating is done for debt instruments such as debentures, fixed deposits, commercial papers, bonds, etc. Credit rating is an assessment of the credit worthiness of individuals and corporations. It is based upon the history of borrowing and repayment, as well as the availability of assets and extent of liabilities.

The company which issues debt instruments is called “an issuer” or “issuing company”. The issuer, issues instruments to collect finance from investors. Among other factors, an investor should also look at the credit rating of the debt instrument and the issuer before investing… Read more

CIBIL Transunion Score: Worth every penny

Improve your credit ratings with these measures

There may be a time when you will need to take a loan for purchasing a home or a car. The credit sector will always verify your credit history before giving you a loan. It is always better to have a clean credit history as you may not get approval for a loan if you have a history of late payments or defaults. Even if you do not have a spotless credit history, here are ways to improve it… Read more

Discrepancies in your credit report? Here is what you need to do


Credit score below 700 is dangerous for you

The numerical figures of 700 and above are fast forming a superpower club that determine what job you should get, what EMI (equated monthly installments) on your loan you should pay, what should be the interest rate on your loan, your marriage eligibility, phone number eligibility and limit and much more… Read more



Abatement is reduction of or exemption from taxes granted by a government for a specified period, usually to encourage certain activities such as investment in capital equipment. A tax incentive is a form of tax abatement.


Only licensed insurer can offer insurance products: IRDA

SBI to discontinue free accident cover from 1 July

Total AUM of MF Industry Declines by 13.8% in March'13

Global MF assets rise 3% to $26.84 trillion in Q4 2012

SEBI approves exit of Saurashtra Kutch Stock Exchange


FLAME (Financial Literacy Agenda for Mass Empowerment) is an IIFL initiative to promote financial literacy amongst the masses in order to make them an integral part of India’s spectacular growth story.

In an era of accelerating GDP and rising per capita growth, financial literacy has become more critical than ever before such that we all reap the tangible benefits of the nation’s economic prosperity. Financial inclusion has been quite high on the governmental agenda, given its emphasis on widening the Banking & Financial services network across the country. IIFL’s FLAME initiative stands committed to complement this effort by helping common people gain financial growth and security though better awareness and education on the variety of financial products while avoiding the lure of and loss from unrealistic claims made by unscrupulous agents and ponzi schemes.

Our objective is to light a FLAME, as the name suggests, which will set ablaze a chain of FLAMEs across the country. The new-found light of knowledge will undoubtedly dispel the dark clouds of financial illiteracy and ensure the bright sunshine of financial growth and prosperity.

This portal is but one of the various IIFL initiatives that would be part of FLAME.

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