Best Term Insurance Plans in India [Comparison with Charts]

LIC Term Insurance or Pvt Life Insurance Term Plan ? Which is the best term insurance in India ? Which Insurance company has the best claim settlement Ratio? Online term Insurance or Offline Term Insurance ? These are some of the questions which comes in the mind of every Term Insurance buyer! . So are you looking for Term Insurance comparison at one place ? Do you have all the sufficient information to decide which is the Best Term Plan you can buy? Today I will show you all the data like riders, maximum/minimum tenure, max age till when term plan covers a person and data on the premium, Claim settlement Ratio at one place! . There are many term insurance plans in India, but all of them have different premiums and features which confuses a prospective customer to choose the best term plan for him. If you any question about Term plan you can look at these 9 most asked questions about Term Insurance

Looking at above comparison chart you would have got a fair idea about the online term plans also, which have recently made its entry in India.

Note : The premiums displayed are indicative and should not be considered as final premiums as they are taken from online insurance comparision sites. Its only for illustration purpose and very much correct as on Dec 2010 . They might change in future, please check the premiums on the respective websites.

Brief overview of Riders

AD (Accidental Death) : The policy pays you additional sum assured in case the death happens due to an accident . Note that even if you don’t take this rider, the sum assured is always paid on death, whether accidental or not !.

CI (Critical Illness) : This rider gives you a lump sum amount if you are diagnosed with an illness which is mentioned in the policy . Generally all the major illnesses are covered in Critical Illness cover.

DR (Accidental Disability Rider) : This rider covers you for disability and pays you Sum assured in 10 installments per year incase you becomes temporary or permanent disabled person.

WP (Waiver of Premium) : This rider makes sure that incase you are not able to pay future premium due to disability or income loss, the future premiums are waived off , but your policy is still in force like always !

Claim settlement Ratio of Insurance Companies

While deciding on a term plan, the biggest point which a person concentrates is the Claim settlement ratio (read this comment) . So here is the list of all the Insurance companies in India with the claim settlement ratio . The data are from the recent IRDA report for 2009-2010. One important detail you should note down is that 8 out of 23 life Insurance companies have reported profits , which are LIC, ICICI Prudential, Kotak Mahindra, SBI, MetLife, Bajaj Allianz, Sahara India and Aegon Religare . If you do not beleive in Term Plans then you should read this article .

Online Term Insurance vs Offline Term Insurance

With online term plans coming in market, two things has happened. First, Customers have really got excited seeing very low premiums which insure them at throw away prices, however low premiums does not appear on the top wish list of customers and what everyone needs is very high claim settlement ratio and excellent customer service. This is where online term plans have disappointed customers, there has been huge disappointment from ICICI iProtect and Aegon Religare iTerm Plan in terms of customer service. There have been cases where customers bought the online term plan and after that, they had horrifying experiences starting from increase of premium once they bought it, No-response from the company for long duration and Long & frustrating delays in medical tests. This is what pisses off customers most and they get a feel that If situation is bad at the time of buying the policy, then what will be the response when their families for claim settlement .

Another important point which comes to a persons mind is Are private Insurance companies safe ? and what is the claim settlement ratio of the company. From last year IRDA report, we came to know that Aegon Religare did not settle even a single claim out of total 7-8 claims they got . However, this years IRDA report (2009-2010) shows that its better at 48% settlement ratio for Aegon Religare, but Life Insurance is not a maths exam where 90-91% marks will make people happy. We all need 100% or 99% at least !. Because most of the companies are very new, the trust factor is missing from public. Note that not everyone who bought online term plans had bad experience, there are many buyers who got very good response and good customer service, but it was a smaller section .

So if you a kind of buyer who understand Insurance very well and how things work in this area and you also have trust in online term plans then you can go for online plans. But if you are not comfortable with it, then you should try the old way of buying insurance through an agent. However it would cost more than online term insurance, which many are comfortable with! .

If you concentrate on the claim settlement and trust factor then the only option is LIC Term Insurance (Jeevan Amulya). However if you are fine with the pvt Insurance, but still want the best features, I personally see Kotak-preffered Plan as a good option. The premium for Kotak-Preffered is the lowest in the offline term plans and this plan has good riders along with other good options. Term Plan from LIC is obviously the best option if you do not believe in the pvt companies and insist on high claim ratio, but premium for LIC term plan is too high . So I think you can consider a mix of the LIC term insurance and any one from Pvt insurer.

Special Features in Some Term Insurance Policies

There are some term plans with very different set of features. Lets have a look at some of the those. These features can help you further in your decision.

Which term plan do you have currently and incase you planning to have one, which one those the above will you buy ? Will it be LIC Term Insurance or some one else and why ? Also share, If you need any other factor before choosing the term plan ? Which one do you think makes sense out of online and offline term plan ? Give your suggestions .

Is Gold worth Buying ? A shocking Study

To understand this Study, we have to go back to years when human civilization started. Surprised! But yes, lets go back to those times where human civilization just started. Those days, economic activity was bare minimum and there were few trades between humans. For example, if a farmer wanted to build a home, he used to give some quantity of grain to carpenter, plumber etc and that system was called BARTER SYSTEM. So goods itself were basically used as currency.

Economic activity grew and then emerged an alternative currency which was in the forms of coins and we had what is called ASHRAFIYA. We had gold, silver and copper coins which were used as currency and it was Emperor who used to control the currency system. Then economic activity picked up further and since there was a limitation to the amount of gold, silver and copper we had, Paper currency emerged and till date such currency is the main form by which we all trade. Though now-a-days, we are witnessing another form of currency which is called Plastic Card Currency/ Credit Currency which if not used judiciously, can be a disaster. In fact,the entire US came to a halt in 2008 as credit currency was mis-used to unimaginable extent.

Today also, each emperor (so called Government) produces and controls their own currency as DOLLOR, Rupee, Dinar etc. But internationally, gold still remains the purest form of currency as it cannot be manipulated. Now in paper currency world over, Dollar became the most acceptable currency as US economy is still the biggest and almost all countries trade with US. After US dollar, the most acceptable form of currency is GOLD. If you have gold and you are not carrying dollar, you can still buy items in any country of the world but you cannot do so with Indian Rupee. Hence, in economic terms, gold is a currency.

Gold in relation to Dollar

Gold is a recognized international currency and currently Dollar is the most recognized Paper Currency. Hence gold is valued in terms of Dollar and not in Rupee. Now if we go back in the history, in the year 1976-81, gold had a dream bull run. From $100 per ounce in 1976, it had gone as high as $850 per ounce. That rise took place as people feared that US economy would collapse and $ would have no value. That time, US was in war with Vietnam & then came Iranian Revolution – inflation in US was at very high levels and in a way, there was hyper-inflation.

Once the war was over and inflation eased out, Gold came crashing down. In the year 1990, it was $400 per ounce and in the year 2000, it was close to $250 per ounce. That means the effect of bubble was so big that even in 20 years, the gold could not recover its original price and was languishing at less than 1/3 of its peak price. So please don’t be surprised if you will be able to buy gold again at levels of Rs 10000-12000.

Gold Price Chart from 1975 to 2010

Now, Dow Jones was at 10000 in the year 2000 and today also it is at same levels. The US economy is in bad shape and in last 10-12 years, it has not really made any significant progress, rather its debt is so much so high, that there is a fear that US would only have to print further paper currency i.e., dollar either to repay the loan or to keep in the economy going. The moment any government print notes without significant growth in the economic activity, the currency loses its value because of high inflation as same quantity of goods and services are being chased by more money. Anyway, US government is printing billions of dollar just to keep the economy afloat.

So, the rise in Gold is happening on the background that the most recognizable international currency is loosing its value. If US economy further goes down and government there keeps printing notes, again gold may rise in dollar terms. Such fear exist, even in 1979-80. We don’t know what lies ahead as we are not astrologers.

Dollar in relation to Rupee

In the year 1980, $1 was equal to Rs.8 and today as we are writing this article, $1 = Rs.46. Dollar has appreciated more than 5½ times in last 30 years. In the year 1991, there was a time, when Indian government was literally bankrupt and they had to devalue INR more than 25% in just a single day, just to repay the debt we had. That was the time, India was liberalized and government opened their economy and allowed foreign companies to do businesses. Since then, India has grown dramatically. The fact of the matter is that in the year 1991, sensex was close to 1000 and today it is at 18000.

As Indian economy keeps rising and US economy keeps doing down or at the max stands where it is, the likelihood is that dollar should depreciate. In the year 2007, dollar had depreciated to as low as Rs.37.

Gold with relation to Rupee

Gold was Rs.1450/- in the year 1980 and today it is Rs.18800/-. The rise of 13 times in last 30 years @ 9% p.a. But 5½ times of such rise is on account for Rupee depreciation in terms of dollar. So if we were to analyse the rise in gold price in relation to rupee alone without taking dollar factor, it is only 2.35 times. You see, even in terms of dollar, gold has risen only 1.5 times in last 30 years.

What can happen in future?

As we have said, we are not astrologers, so we can’t predict future. Though we can give some options that may happen:

1. If dollar in comparison to INR were to stay at the same level of 45-46, then there is a likelihood that gold may rise further.
2. If due to the sheer strength of Indian Economy, dollar flows to India by way of FDI, FII etc continues, rupee would strengthen and that would mean that even if gold were to rise in dollar terms, it will still decline in rupee terms. In fact, as it happened from 1980 to 2000 that gold kept going down in dollar terms but since the rupee was depreciating in dollar terms, the gold kept rising in Rupee terms. The reverse can happen now and gold may decline in rupee terms.

Basically, the price of gold depends on currency movements; for example, in Yen terms (Japan) gold have moved 240% & in Pound terms (Britain) 390% in the same period (Check below Chart).

And you already know about Gold price in Rupee term. So what do you feel – whether India will grow & its currency will appreciate or economy will slow down & our currency will depreciate further? We don’t know what lies ahead, but looking at the history, we are not bullish on gold as much as we are bullish on Indian Equities. As long as world keep rising, gold will not give much return. Here we would like to add a recent quote of legendary investor Warren Buffet – “We live in a world where 80 years out of 100 will be good. But we don’t know which 20 will be bad.”

We always used to suggest investors that gold is not an investment, it is an insurance which would save you in case the entire financial markets were to tumble down. The live example is that of Zimbabwe where, paper currency has lost its value and if you are holding paper currency, it is depreciating at a rate which is unimaginable. You have to carry crores of Zimbabwe currency just to buy a loaf of bread. Now if you are holding gold, you can actually buy or barter goods there. At least, you can go to neighboring country South Africa and buy what you want as gold is recognized everywhere.

Now, if an average Indian household were to look at their asset allocation, they already hold more gold in the form of jewelry or otherwise than they hold Indian equities. In fact, Indians are the biggest consumer of gold. One must consider gold as part of asset allocation tool and over-boarding on it may not be that a great idea. It may happen that in short run, gold may give better returns but mind you, it is Indian equities that will create a long lasting wealth for investors.

One more important point to note

It is often said that Gold is a Hedge against Inflation. But if you were to look at the graph below, you would find that gold has not kept pace with rising inflation. The blue line shows the actual price of gold and the red line shows the price which gold should have carried in order to match with inflation

In October 2009 when Gold was $ 1072, Bloomberg made this statement “While bulls say gold is cheap, the inflation-adjusted price is 15 percent above its 30-year average, Bloomberg data show.” First time in 100 years gold has touched it’s inflation price – what will happen next?

What they meant is that it is for the first time that gold price is above its inflation-adjusted price which clearly states that gold is over-priced as it is a sheer currency and nothing else.

Research on investor psychology

The following are Google trend charts. It analyzes a portion of Google web searches to compute how many searches have been done for the terms you enter, relative to the total number of searches done on Google over time. This clearly shows that people start searching for investment which have gone higher in recent past. Check 2^nd Graph of Mutual funds which peaked in December 2007 when equity markets were also at their peak. No one was searching for Mutual funds in the end of 2008 or start of 2009 when actually it was the best time to invest. Upto 2007 end when it was best time to invest in gold but no one was searching for it but when price went up, the number of searched went up.

Few points that we would like to leave open for discussion:

• What will happen if Indians were to start selling gold as it is at its highest price
• Why IMF sold gold when it was at $ 1045 per ounce
• Today experts are saying – Buy Gold. why did not they said when gold was at Rs.5000
• Gold has appreciated 13 times in last 30 years and sensex has appreciated 140 times. Still why Indians love gold more than sensex

How RBI rate hike impacts your financial life ?

Few days back, there were some changes announced in repo rate and saving bank account interest rates by RBI. Do you want to know how you as an investor would get impacted with the recent changes done by RBI? I have seen that a common man always ignores this kind of news because it looks too complicated to him or he can’t understand how his life will be affected by such fluctuations. In this article, I will touch two most important changes that were recently disclosed by RBI and show you in simple manner how it’s directly related to a common man. Note that this article is limited in its scope by looking at the two changes from the point of view of its direct impact on a common man.

Let me quickly go through two main changes which RBI recently changed and explain to you how it impacts common man. Note that this article is limited in its scope of looking at these two changes only from a viewpoint of how a common man is affected directly.

1. Increase in Repo Rate by 0.5% (6.75% to 7.25%)

Repo rate is a rate at which Bank borrows money from RBI, which was increased by 0.5% by RBI and is at 7.25% right now. So now what are the effects of it on a common man? Let’s understand this concept. Banks offer loans like Home loans and Auto loans to someone at an interest rate which is directly proportional to Repo rate (interest rate for common man = repo rate + X %). Now change in repo rate has a direct impact in the interest rates offered to customers for loans by the same or by more magnitude.

Now with the increase of 0.5% in repo rate, this increase will directly be passed to a common man (in case of floating interest rates). In fact some banks like IDBI bank and Yes Bank have already increased their interest rate for loan takers. In fact, Chanda Kochar (Managing Director of ICICI Bank) has already said that this repo rate increase can increase the interest rates for end consumers in the range of 0.5% – 1.0%. So if your interest rate for home loan or Auto loan was 10% p.a, it will now increase to 10.50% at least. This has direct impact on the EMI which you pay for your house.

Let’s see the calculations. If you had bought a house worth 30 lacs @10% interest, 15 yrs tenure, then the EMI would be Rs 32,238. With an increase of 0.5% in interest (10.5%), your EMI will rise to Rs 33,162. That’s an increase of Rs 924 on every EMI. However if the interest rates rise by 1%, in that case your EMI will increase by Rs. 1,860 (calculate yourself). Now imagine if you took the loan at the time of low-interest rates and over the years the interest rates keep rising every quarter, your EMI can shoot up so much that it would make your cash flow very uncomfortable. For example, just last year in Mar 2010, the repo rate was 5%, and then RBI increased it up to 7.25% today. This means there was a 2.25% increase in the last 14 months. You can understand the impact of this on EMI rise over the last 1 yr!

Hence, now you understood how change in repo rate directly impacts a common man, because that change in repo rate is passed on to common man and his EMI’s are affected in the case, the person has opted for floating interest rate option while taking the loan.

2. Increase of saving bank interest from 3.5% to 4% .

The second change which RBI has done is to increase the saving bank interest rate. Till now it was 3.50% which was set long back, many years ago and was never revised. But finally with this year’s credit policy, RBI increases it to 4%. Now you must be thinking how does this impact common man? It’s a good thing for account holders.

Well, in a way it’s a good thing that a person will get higher interest rate on his cash lying in the saving bank account, but let’s see how it impacts a bank. A bank that was paying 3.50% interest on the money will now have to pay 4% interest. That means now, it would directly impact Bank’s profitability. Suddenly a bank which was able to add up that 0.5% interest in its profits has to pay it to customers and that would hit their margins. Bank’s profits will come down by that much amount. This is not a good thing for the bank. That’s a simple reason why you should have expected a big fall in banking stocks and that’s exactly what has happened on the day when this news came in that saving account interest has been raised.

Banking and automobile stocks anchored the broad-based selling. While the hike in saving rates is expected to hit the net income margins of the banks; muted sales numbers in April, high fuel prices, and likely rise in auto loan, diminishing outlook for automobile space.

Among banking stocks, Bank of India, PNB, SBI and Yes Bank tumbled 6.47 per cent, 5.07 per cent, 4.03 per cent and 4.03 per cent, respectively. ICICI Bank and HDFC Bank dropped 2.76 per cent and 2.40 per cent. (source)

Note that around 22% of the money in banking system lies in normal savings bank account and that’s approximately 10 lakhs crore in all the banks. Taking a hit of 0.5% on that kind of money is Rs 5,000 crore. That’s a direct impact of the bank margin of profits. The worst affected will be those banks where saving account ratio (the amount of money lying in bank accounts vs. total money with bank in all forms) is very high. Clearly banks like ICICI bank, SBI bank, Punjab National and HDFC banks are the names I can think because their saving bank deposits stand in range of 30-35%, much higher than the average of 20% across all other banks.

Now how does this impact the common man? Again this move of increasing the interest rates for saving bank is going to affect banks profitability and banks are going to pass this burden to those people who take loans from them, which means those who only put money in bank will stand to gain and the people who took loan will be losing out.

S Raman, cha­irman and managing director of Canara Bank, said, “There was a need to increase savings bank rate. It will lead of cost of funds going up but how much will it affect the margins of banks will depend on the extent of pass through of these hikes to consum­ers in terms of len­ding rates. Le­n­ding rates can go up by 50-75 basis points.” – Source

Conclusion

Repo rate fluctuations which come from Banks in the form of increased interest rate for loans will directly impact common man. Knowing this can help an investor in many ways. The biggest benefit a person can from such fluctuations is if he time’s his decisions based on where the interest rates are inclined towards.

Let me know what do you think about this hike in repo rate and how is it going to impact your life?

Is Silver is a better investment than Gold ?

Imagined what gave maximum return in 2011 or 2010? Well, was it Gold, Equity or Real estate? Nope! Hold your breath, it was SILVER and it gave huge returns! It is almost unbelievable that the price of silver as on Aug 2008 was around Rs. 20,000/ Kg, and it went to Rs. 72,000 by the end of Apr 2011, which was a 300% absolute rise in less than 3 yrs. But don’t get too excited, Silver in just 1 week has fallen like anything. From the peak of 72,000 in Apr 2011 end, it went down to Rs 52,000 in just 1 week. Can you believe that? A 28% fall in the prices of silver in just 7 days! Let’s explore more on this.

Gold vs Silver returns ?

Now a days there is a big debate going on different TV channels as well as newspapers that what should a common man buy? Gold or Silver?

In our country, Gold is something which every family buys because of the attraction we have for this metal. On any occasion, gold is the obvious choice. But Silver is not seen the way gold is looked upon. It’s generally limited to not so well off section of the society. This is one of the reasons why middle class or even richer one’s never considered looking at what’s happening in silver and if it can have some potential in future as an investment option. Gold, Gold and Gold was the only option when it came to buying some precious metal.

A lot of people are surprised to hear and see how gold has given fabulous returns year on year in the last decade, but now you would be more surprised to know that for most of the years silver has outperformed gold with good margins in terms of returns. For example, everybody knows that Gold gave 25% return in 2010, but not many know that Silver in the same year gave 80-85% return.

Silver has given 24% absolute return in just one month of April 2011. I don’t think it’s anything other than speculation because that rise was short-lived and in just 1 week (May-‘11 first week), all the gains made in Apr disappeared and prices fell by 25%.

Below is the chart which shows you the monthly price movement in silver for last 30 months. You can see how silver prices exploded in last 4-5 months (2011)

Factors affecting price of gold and silver

1 . Supply and Demand

One of the biggest and obvious reasons behind the price movement for anything is its demand and supply in the market. It directly impacts the movement in price. It is estimated that in 1950, the reserves of gold was 1 billion ounces, but by 2010 it increased by 700% to 7 bullion ounces (see the video below)

However on the other hand it is totally different with Silver, in 1950s there were 10 billion ounces of silver, but by 2010, it dropped by huge 95% and its current reserves are only 500 million ounces worldwide. A very obvious reason for this is that gold is mainly stored in form of bars, jewellery etc and its recycled again if required. However silver is also used widely in Industry in very smaller and thin parts which get lost and never reused. In fact, it is not possible to use it again because of its used in lesser quantity and in small parts.

2. Practical use in life

Gold and Silver are very different when it comes to its usage in real life. While both of them are precious metal and often used as jewellery, Gold has a very different image and can be considered as the undisputed king in this area. From millenniums Gold stands the most favourite metal for jewellery, in fact there is some kind of unseen connection which humans have with gold, which cannot be explained. May be it’s the way it has always been and it can’t be changed. But if you see gold as a useful metal, it does not have much to show off. It’s literally not used anywhere other than at a few places.

Silver on the other hand is also used in various industries and holds a very important position. In fact you can see it as “gold” for industrial use. Let me give you more info on this. Silver is used in Bandages, batteries, soldering process, cell phones, computers, satellites, high-tech weapons, laser and digital technology, electronics circuit board, solar cells, water purification, RFID chips and the list goes on.

Silver has more industrial applications than any other metal. A recent report by Hinde Capital says: “It’s the best conductor of both heat and electricity, the most reflective, and second-most ductile and malleable element, after gold.” The white metal is also being put to several new uses like-water purification, air-handling systems and a natural biocide.”

In last couple of decades, Silver is so extensively used in Industry that it’s reserves has drastically gone down. Just to give you an example, in the decade of 1990 – 2000, around 2 billion ounces of Silver was consumed. That’s a lot of silver!

3. Role as alternate currency

Precious metals are always considered as the alternate currency and wealth in pure form in any emergency situation. Gold is a universal currency and not dependent on country or any community.

In times of war, people fear that their assets may be seized and that the currency may become worthless. They see gold as a solid asset which will always buy them food or transportation. Thus in times of great uncertainty, particularly when war is feared, the demand for gold rises. That’s exactly what happened in Zimbabwe lately, where currency is worthless now and people are using gold as alternate currency to buy bread

Recent rise in Silver Prices

You might have heard lately about rise in Silver prices and definitely you might have felt that you “missed the bus”. Let me talk a bit on that. You have already read about the reasons of price rise in silver above. One of the biggest reasons is fundamentals of silver, it is a valuable asset and over a long-term, it’s going to be much valuable because of its use in industry, every industry requires silver!

But other than fundamentals, there are elements of speculation also involved, otherwise I don’t see any reason for 150% rise in its prices in just 1 yr and then a 25% fall in just 1 week. It’s going to be volatile.

To know why the price of silver fell recently , read this article . Please share your comments on Gold and Silver as an investment .

50 ટકા MFs એજન્ટોએ પોતાનો બિઝનેસ છોડી દીધો

મ્યુચ્યુઅલ ફંડ્સ સ્કીમનું વેચાણ કરવા માટે કેટલીક શરતોનું પાલન કરવાની નિયમનકારી જરૂરિયાતને પગલે મ્યુચ્યુઅલ ફંડના આશરે અડધોઅડધ વિક્રેતાઓએ આ બિઝનેસ છોડી દીધો છે.

મ્યુચ્યુઅલ ફંડ ઇન્ડસ્ટ્રીના આશરે 40,000 નોંધાયેલા વિક્રેતાઓએ 31 માર્ચ સુધી પૂરી કરવાની હતી તે નો-યોર ડિસ્ટ્રિબ્યુટર (કેવાયડી)ની ઔપચારિકતા પૂરી કરી નથી. આ સંખ્યા કુલ વિતરકોની 50 ટકા થવા જાય છે.

મ્યુચ્યુઅલ ફંડના વિક્રેતા તરીકેનું પ્રમાણપત્ર આપતા આ ઉદ્યોગના સંગઠન એસોસિયેશન ઓફ મ્યુચ્યુઅલ ફંડ્સની ઇન ઇન્ડિયા (એમ્ફી)એ કેવાયડીની પ્રક્રિયા પૂરી કરવાની સમયમર્યાદાને એક મહિનો લંબાવી છે , પરંતુ તેનાથી કોઈ ફેર ન પડે તેવી શક્યતા છે , કારણ કે તેમને હવે વધુ વળતર મળતું નથી.

ફંડ રિસર્ચ કંપની વેલ્યૂ રિસર્ચના મેનેજિંગ ડિરેક્ટર ધીરેન્દ્ર કુમારે જણાવ્યું હતું કે , વિક્રેતાને ફંડનું વેચાણ કરવા પૂરતું પ્રોત્સાહન મળતું નથી. કમિશનના હાલના દરે આ ઉદ્યોગનો વિકાસ થાય તેવું મને લાગતું નથી... વિક્રેતા નાના રોકાણકારોનો સંપર્ક કરશે નહીં , કારણ કે નાના રોકાણકારો પાસેથી તેમને મળતી ફી તેમના પ્રયાસનું પૂરતું વળતર નહીં હોય.

એમ્ફીનાં સૂત્રોએ જણાવ્યું હતું કે એમ્ફીનો નોંધણી નંબર ધરાવતા આશરે 41,000 વિક્રેતાએ કેવાયડી પ્રક્રિયા પૂરી કરી છે , આ પ્રક્રિયામાં વિતરકોની અંગત માહિતી , વિતરણ બિઝનેસની વિગત અને બાયો-મેટ્રિક પ્રોફાઇલ સુપરત કરવાનો સમાવેશ થાય છે.

એમ્ફીના અધિકારીઓએ જણાવ્યું હતું કે , સલાહકારોએ ફંડ્સનું વેચાણ બંધ કર્યું હોય તેનું એક સંભવિત કારણ નીચું કમિશન હોઈ શકે છે. બીજી તરફ અમે એવું માનીએ છીએ કે મોટા વિતરકો હજુ પણ ફંડ્સનું વેચાણ કરવાના બિઝનેસમાં છે અને તેમની કેવાયડી પ્રક્રિયા પૂરી કરી છે.

કેવાયડી ધોરણોનું પાલન ન કરતા વિતરકોને કમિશન ચૂકવવાનું બંધ કરવા એમ્ફીએ એસેટ મેનેજમેન્ટ કંપનીઓને સૂચના આપી છે. આ ઉદ્યોગે એજન્ટની જવાબદારીમાં વધારો કરવા માટે કેવાયડી નિયમોની રચના કરી છે.

કુમારના જણાવ્યા અનુસાર એન્ટ્રી લોડ પરના પ્રતિબંધ અને તેના પગલે નીચા કમિશનની વ્યવસ્થાને કારણે વિતરણ બિઝનેસ માટે ગંભીર ન હોય તેવા એડ્વાઇઝર્સને દૂર કરવામાં આ ઉદ્યોગને મદદ મળી છે .

ઉદ્યોગના અંદાજ મુજબ એન્ટ્રી લોડ પરના સેબીના પ્રતિબંધને પગલે એમએફનું વેચાણ કરતા વિતરકોની સંખ્યા આશરે 50,000 રહી છે .

મુંબઈ , દિલ્હી અને નાગપુર જેવા શહેરોમાં ફાઇનાન્શિયલ એડ્વાઇઝર્સની સંખ્યામાં ઝડપથી ઘટાડો થયો છે . મુંબઈમાં 10,000 રજિસ્ટ્રર્ડ વિતરકોમાંથી માત્ર 2,000 વિતરકો જ એમએફનું વેચાણ કરી રહી છે , એમ આ ઉદ્યોગનાં સૂત્રોએ જણાવ્યું હતું .

નીચા કમિશન ઉપરાંત ન્યૂ ફંડ ઓફર્સ ( એનએફઓ ) માં તીવ્ર ઘટાડાને કારણે પણ વિક્રેતાઓએ મ્યુચ્યુઅલ ફંડનું વેચાણ બંધ કર્યું છે . 24 એનએફઓ મારફત ઇક્વિટી ફંડ્સ હેઠળ 2010 માં આશરે રૂ . 3,000 કરોડ એકત્ર કરવામાં આવ્યા હતા , જે 2009 ની સરખામણીમાં 57 ટકાનો ઘટાડો દર્શાવે છે અને ચાર વર્ષમાં સૌથી નીચું ભંડોળ છે.

નર્મદા યોજનામાં જમીન આપનારા ખેડૂતોને નવી જંત્રીના દરે વળતર

સરદાર સરોવર નર્મદા યોજનાની કેનાલ માટે એક વર્ષ અગાઉ જમીન આપનારા ખેડૂતોને સંપાદિત જમીન માટે નવી જંત્રીના દરે વળતર અપાશે. જેના કારણે ખેડૂતોને રૂ. 770 કરોડ વધુ નાણા ચૂકવવામાં આવશે.

આ નિર્ણયથી નર્મદા કમાન્ડ એરિયા માટેની જમીન સંપાદન હેઠળના આઠ જિલ્લાના 86,13 ર ખેડૂતોને નવી જંત્રી પ્રમાણે વધુ વળતર મળશે. જૂની જંત્રી પ્રમાણે વળતર મેળવેલા પપ ,39 પ ખેડૂતોને પણ નવી જંત્રી પ્રમાણે વળતર યોજનાનો લાભ મળશે.

રાજ્યમાં નવી જંત્રીના દરના અમલ પછી કેટલાક વિસ્તારોમાં સરદાર સરોવર નિગમને અગાઉ જમીન વેચનાર ખેડૂતોમાં એવી લાગણી પેદા થઇ હતી કે તેમને રાજ્યના હિતમાં જમીન આપવા સામે ઓછા નાણા મળ્યા છે.

આ લાગણીને દૂર કરવાના ભાગ રૂપે આ નિર્ણય લેવાયો છે. રાજ્ય સરકારના પ્રવક્તા જયનારાયણ વ્યાસ અને સૌરભ પટેલે ખેડૂતોને સંપાદિત જમીનનું યોગ્ય વળતર મળે તે માટેની નીતિ વિષયક જાહેરાત કરતાં જણાવ્યું હતું કે , નર્મદા યોજનાની કેનાલો માટેની જમીન આપનારા ખેડૂતોને તાજેતરમાં નવી જંત્રી પ્રમાણેના ભાવ ઉપરાંત વધારાનું 30 ટકા સોલેસિયમ વળતર મળવાપાત્ર થશે.

અમદાવાદ ઇન્ટરનેશનલ એરપોર્ટ પરથી 10 કિલો સોનાનું પાર્સલ ગુમ

સરદાર પટેલ ઇન્ટરનેશનલ એરપોર્ટ ખાતે એર કાર્ગો કોમ્પ્લેક્સમાંથી 10 કિલો સોનું ધરાવતું એક પાર્સલ ગુમ થયું હોવાનું નોંધાયું છે , એમ પોલીસે મંગળવારે જણાવ્યું હતું. આ સોનાની કિંમત અંદાજે રૂ. બે કરોડ થાય છે. આ બાબતે ગુજરાત સ્ટેટ એક્સ્પોર્ટ કોર્પોરેશન (જીએસઇસી)ના જનરલ મેનેજર સંદીપ ચાવડાએ મેઘાણીનગર પોલીસ સ્ટેશનમાં ફરિયાદ નોંધાવી છે. જીએસઇસી એરપોર્ટ પર એર કાર્ગો કોમ્પ્લેક્સ ખાતે કસ્ટમ્સ (આયાતી માલસામાન)ની રખેવાળ છે. પોલીસના જણાવ્યા મુજબ , સોનાના વીસ પેકેજ ધરાવતું એક કન્સાઇમેન્ટ 7 મેની મધ્યરાત્રીએ સિંગાપોર એરલાઇન્સ દ્વારા આવ્યું હતું અને તે દિવસે શનિવાર હોવાથી તેને એરપોર્ટ પર એર કાર્ગો કોમ્પ્લેક્સ ખાતે રાખવામાં આવ્યું હતું. આ પેકેજોની ડિલિવરી વખતે તેમાંથી એક પેકેજ ગુમ થયેલું જણાયું હતું. આ કન્સાઇનમેન્ટ મિનરલ મેટલ ટ્રેડિંગ કોર્પોરેશન (એમએમટીસી) માટેનું હતું. પોલીસે જણાવ્યું હતું કે આ બાબતે એફઆઇઆર નોંધાઈ છે અને વધુ તપાસ ચાલી રહી છે.

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ચાંદીમાં 7200 રૂપિયાનો કડાકો, સોનુ પણ ઘટ્યું

સતત ચાર દિવસના સુધારા બાદ આજે બન્ને કિંમતી ધાતૂઓમાં કડાકો જોવાયો હતો.

એક કિલો ચાંદી આજે 7200 રૂપિયાના કડાકા સાથે 53,300 જ્યારે દસ ગ્રામ સોનાનો ભાવ 410 રૂપિયા ગગડીને 22,170 રૂપિયા નોંધાયો હતો.

મોટા ભાગના ચલણો સામે ડોલર મજબૂત થવાને પગલે વૈશ્વિક બજારમાં કિંમતી ધાતૂઓના બજારમાં કડાકો જોવાયો હતો અને તેની અસર ભારતના બુલિયન માર્કેટમાં પણ જોવા મળી હતી. મૂડીરોકાણના વિકલ્પ તરીકે સોનાની માંગમાં ઘટાડો થયો હોવાને કારણે પણ પીળી ધાતુમાં નરમાઈ જોવા મળી હતી.

આંતરરાષ્ટ્રીય માર્કેટમાં સોનુ 0.7 ટકા ઘટીને ઔંસ દીઠ 1491 ડોલર અને ચાંદી 5.2 ટકા ઘટીને ઓંસદીઠ 33.65 ડોલર બોલાઈ હતી.

ઊંચા મથાળે સ્થાનિક બજારમાં પણ માંગ ઘટતાં સોના તેમજ ચાંદીમાં નરમાઈ જોવા મળી હતી.

સ્થાનિક બજારમાં હાજરમાં એક કિલો ચાંદી 7200 રૂપિયા ઘટીને 53,300 અને સાપ્તાહિક ડિલિવરી 7440 રૂપિયા ઘટીને 52,300 રૂપિયા નોંધાઈ હતી.

ચાંદીના 100 સિક્કાના ખરીદ તેમજ વેચાણ ભાવ પણ 9500 રૂપિયાના ઘટાડા સાથે અનુક્રમે 57,500 અને 58,500 રહ્યા હતા.

શુધ્ધ દસ ગ્રામ સોનુ અને સોનાના દાગીનાના ભાવ 410 રૂપિયા ઘટીને અનુક્રમે 22,170 રૂપિયા અઇને 22050 રૂપિયા બોલાયા હતા.

MCX માં ચાંદીનો જૂન મીની વાયદો 50,400 સુધી તૂટ્યો હતો

અલંગ શિપ-બ્રેકિંગ યાર્ડમાં મંદીથી સ્ક્રેપ સ્ટીલના ભાવમાં વૃદ્ધિ

દેશના સૌથી મોટા શિપ-બ્રેકિંગ યાર્ડ અલંગમાં મંદીના લીધે સ્ક્રેપ સ્ટીલના ભાવ બે સપ્તાહમાં પ્રતિ ટન એક હજાર રૂપિયા વધ્યા છે. આ જ રીતે ઇન્ફ્રાસ્ટ્રક્ચર સેક્ટરમાં સ્ટીલની માંગ પણ નબળી હોવાનું કેટલાક ટ્રેડરો કહે છે.

શિપ રિસાઇકલિંગ ઇન્ડસ્ટ્રીઝ એસોસિયેશન (ઇન્ડિયા)ના સંયુક્ત સચિવ જયંતિભાઈ વાનાણીએ જણાવ્યું હતું કે , ભારતીય ઉપખંડમાં સારા ફ્રેટ રેટના લીધે આ શિપયાર્ડમાં મર્યાદિત વહાણો જ ભંગાવવા માટે આવે છે. આ ઉપરાંત , બાંગ્લાદેશમાં દસ મહિના બાદ શિપબ્રેકિંગ ઉદ્યોગનો પુનઃ પ્રારંભ પણ મંદીનું કારણ છે.

તેમણે ઉમેર્યું હતું કે , અલંગમાં મહિને સરેરાશ 30 થી 35 વહાણ ભંગાવવા માટે આવે છે. છેલ્લા કેટલાક મહિનામાં તેની સંખ્યા ઘટીને 20 થઈ ગઈ છે.

બાલ્ટિક ડ્રાય ઇન્ડેક્સ જાપાનીઝ ભૂકંપ અને સુનામી વખતે 1045 પોઇન્ટે પહોંચી ગયો હતો , હવે તે સુધરીને 1350 થી 1400 પોઇન્ટ થયો હોવાનું વાનાણીએ ઉમેર્યું હતું.

વહાણ ભાંગવાનો ખર્ચ પ્રતિ ટન 460 થી 475 ડોલરની વચ્ચે આવે છે તે વધીને 510 થી 520 ડોલર થઈ ગયો છે , જે સ્થાનિક ભાવ સાથે મેળ ખાતો નથી. મંડી ગોવિંદગઢ સ્થિત વેપારી છજ્જુરામે જણાવ્યું હતું કે મેલ્ટિંગ સ્ક્રેપનો ભાવ પખવાડિયા દરમિયાન પ્રતિ ટન 500 થી 1,000 રૂપિયા વધીને રૂ. 23,000 થી 24,000 એ પહોંચી ગયો છે.

નિફ્ટી 5500ની નીચે બંધ : મેટલ શેર્સ ડાઉન

મુંબઈ શેરબજાર આજે નીચે ગેપમાં ખૂલ્યું હતું . ટ્રેડિંગની થોડી જ મિનિટોમાં BSE સેન્સેક્સ 77.21 પોઈન્ટ ઘટીને 18,507.75 પોઈન્ટની સપાટીએ ટ્રેડ થઈ રહ્યો હતો .

નેશનલ સ્ટોક એક્સચેંજનો નિફ્ટી 29.10 પોઈન્ટ ઘટીને 5,535.95 પોઈન્ટની સપાટીએ ટ્રેડ થઈ રહ્યો હતો .

BSE મિડકેપ અને BSE સ્મોલકેપ ઈન્ડેક્સ અનુક્રમે 0.12 ટકા ઘટીને અને 0.09 ટકા વધીને ટ્રેડ થઈ રહ્યા હતા .

આજે સવારે મેટલ , આઈટી અને ટેકનો શેરોમાં વેચવાલી જોવા મળી હતી જ્યારે જાહેર એકમોના શેરોમાં લેવાલી જોવા મળી હતી .

બુધવારે BSE સેન્સેક્સ ઉપરમાં 18,622.44 અને નીચામાં 18,454.93 પોઈન્ટની સાંકડી રેન્જમાં અથડાયા બાદ 72.19 પોઈન્ટ વધીને 18,584.96 પોઈન્ટની સપાટીએ બંધ રહ્યો હતો .

નેશનલ સ્ટોક એક્સચેંજનો નિફ્ટી 5,574.70 અને 5,525.00 પોઈન્ટની રેન્જ વચ્ચે અથડાયા બાદ 23.80 પોઈન્ટ વધીને 5,565.05 પોઈન્ટની સપાટીએ બંધ રહ્યો હતો

માર્ચમાં ઔદ્યોગિક ઉત્પાદન આંક વધીને 7.3%

માર્ચ મહિનામાં દેશનો ઔદ્યોગિક ઉત્પાદન આંક ( IIP) વધીને 7.3 ટકા નોંધાયો હોવાનું સેન્ટ્રલ સ્ટેટેસ્ટિક ઓર્ગેનાઈઝેશને જણાવ્યું હતું.

અત્રે ઉલ્લેખનીય છે કે ફેબ્રુઆરીમાં ઔદ્યોગિક ઉત્પાદનમાં માત્ર 3.65 ટકાના દરે વૃદ્ધિ જોવા મળી હતી.

ઔદ્યોગિક ઉત્પાદનમાં 80 ટકા ભાર ધરાવતા ઉત્પાદન ક્ષેત્રે આ સમયગાળા દરમિયાન 7.9 ટકાની વૃદ્ધિ નોંધાવી હોવાનું સેન્ટ્રલ સ્ટેટેસ્ટિક ઓર્ગેનાઈઝેશનની યાદીમાં જણાવાયું હતું.

માર્ચમાં પૂરા થયેલા 2010-11 ના નાણાકીય વર્ષ દરમિયાન ઔદ્યોગિક ઉત્પાદનમાં 7.8 ટકાનો વિકાસદર જોવાયો હતો જે અગાઉના નાણાકીય વર્ષના 10.5 ટકાની સરખામણીમાં ઓછો હતો.

ઉત્પાદનના વિસ્તરણનો સંકેત આપતો HSBC માર્કિટ પરચેઝીંગ મેનેજર્સ ઈન્ડેક્સ માર્ચમા 57.9 ટકાથી વધીને 58.0 ટકા થયો હતો જ્યારે માર્ચની સરખામણીમાં ઈનપૂટ તેમજ આઉટપૂટ પ્રાઈસ ઈન્ડાઈસિસમાં મોટો ઘટાડો જોવાયો હતો. કાચા માલના ભાવમાં વધારો તેમજ ઈંધણ પણ મોંઘુ થયું હોવાથી આ અસર જોવા મળી હતી.

ભારતીય રિઝર્વ બેન્ક ( RBI) એ પણ ફુગાવાને અંકુશમાં લેવા માટે વિકાસના ભોગે પણ વ્યાજદરમાં અપેક્ષા કરતાં વધુ વધારો કર્યો હતો. સેન્ટ્રલ બેન્કે વ્યાજદરમાં 50 બેસિસ પોઈન્ટનો વધારો કર્યો હતો.