FLAME Newsletter - June 12, 2013


QUOTE OF THE WEEK:

"I hope a day will come when we regard gold as any other metal, it just shines a little more than copper or bronze" — P Chidambaram, Union Finance Minister

YOUR FINANCE DEMYSTIFIED:

What documents NRIs need to opt for home loan to buy house in India

Every Indian staying abroad aspires to own a home back in his homeland—India. Home buying can be a tedious process especially if one is living miles away from one’s aspired house... Read more

The A-Z syndrome of NRI taxation

Taxable income of NRI is calculated in the same way as that of resident Indians. The only difference is that a resident Indian is also being charged on the global income, whereas an NRI is being charged only on Indian income... Read more

Importance of life insurance for NRIs

Indians have spread to virtually every corner of the globe and have made their mark in the chosen line of business or profession... Read more

DID YOU KNOW?

How important are a company’s topline, bottomline?

Topline refers to sales and bottomline refers to profit numbers reported by companies in their income statement... Read more

TERM OF THE WEEK

Asset management company (AMC): It is the investment manager for the mutual fund. It is a company set up primarily for managing the investment of mutual funds and takes investment decisions in accordance with the scheme objectives, deed of trust and other provisions of the investment management agreement.

IN THE NEWS THIS WEEK

No reason for Indian assets to get cheaper still: Raghuram Rajan

MF assets rise 5% MoM to Rs. 429 bn in May

RBI should boost dollar supply: Assocham

NRI deposits dip to $2.7bn in Q3 FY13 vs $3.3bn in Q3 FY12

ABOUT FLAME

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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