FLAME Newsletter - August 28, 2013


“India, adding 15 million people annually to the workforce, needs new investment and growth more than any other nation” - Nirmal Jain, Chairman, IIFL


How to improve your CIBIL Score from 600 to 750?

Rangan NV, a New Delhi-based middle-aged businessman owned a house, which he bought over 15 years ago. He had defaulted on couple of credit cards and arrived at a settlement with the banks at much lesser amount after a lot of bargaining. When he did that he was proud of his achievement.

But soon he realized it was all in vain. He wanted to invest in a second home on the outskirts of New Delhi at an exotic location. He wanted to spend his weekends there. So he applied for a home loan. “I was shocked to know that credit score was around 600 and the bank rejected my loan,” said Rangan. Today he is working towards improving his score.... Read more

What do credit ratings mean?

Being a loan guarantor can affect your CIBIL score

When you sign a Guarantee, you are agreeing to be responsible for paying the debt in the event of a default. Therefore, it will show up on your credit report just like any other account for which you are liable. If the Borrower defaults on the account, it will have a negative effect on your CIBIL credit score.

Vikrant Suri, 32, was a well paid executive. When a friend asked him to guarantee a home loan for him, he did not hesitate. After all this was an old trusted friend and he had a decent job and would surely pay his EMIs... Read more

5 things that you must know about CIBIL Credit Scores

Improve your credit ratings with these measures


How to improve your CIBIL Score from 600 to 750?

Improving a credit score is no big deal for someone with a sense of financial discipline. But it could be a humungous task for someone who doesn’t have any kind of norm or procedure to invest and spend the money they earn... Read more


Velocity of Money: It is the rate at which money is exchanged from one transaction to another, and how much a unit of currency is used in a given period of time. Velocity of money is usually measured as a ratio of GNP to a country's total supply of money.


Insurers should follow TRAI norms for telemarketing: IRDA

People brace themselves for riskier world: Survey

Soon demat insurance policies under one account

FDs, mutual funds take shine off gold: RBI


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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