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
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
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
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.