49% of Bank Deposits are NOT Insured.

So, if the bank defaults, you cannot recover your money! 😨

Read the 🧵to know whether your deposits are protected or not ⤵️

#wealth #invest
As per Economic Survey 2021, out of Rs 149.7 Lakh Cr deposits, 49% is not insured as against the international benchmark of 20-30%

Why are 49.1% not insured? ⤵️
A huge amount of the deposits are not insured because the depositors surpass the maximum coverage of Rs 5 Lakh in the same right & same capacity.

Still confused? Read on for further understanding👇
E.g.- If you have 5 deposits worth Rs 25 lakh held in a bank in the same right and same capacity, you would enjoy cover only on Rs 5 lakh, while the remaining Rs 20 lakh will not be covered under the deposit insurance scheme.
Our Suggestion:

✅ Split your FD across banks to enjoy higher coverage.

✅ Add your family members as joint holders in a joint deposit so that each member gets the coverage separately.

For reliable & high yielding FD recommendations, visit Recipe.finology.in

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More from @myfinology

Jun 6
All you need to know about Sukanya Samriddhi Yojana 👧

• Min Max Deposit
• Interest Rate
• Tax Benefits
• Eligibility Criteria
• Maturity Period
• Payment Period
• Withdrawals
• Loan Facility

-- A Thread 🧵 --
▣ SSY was created to provide girl child 👨‍👩‍👧‍👧 with a
sound financial future. It’s a part of "Beti Bachao,
Beti Padhao Yojana". It comes with an interest rate
of 7.6% and tax benefits under 80C of Income-tax
Act, 1961.

#investingtips #personalfinance
▣ The account can be opened by the parent or legal guardian in the name of a girl child from the birth till she is 10 and max 2 accounts can be opened.

❌If more than two daughters the 3rd account can not be opened.

#investors
Read 14 tweets
Jun 6
Shocking Stats on Cancer Incidence in India 🤯

◉ 1 in 10 Indians will develop cancer during their lifetime & 1 in 15 will die of the disease.

◉ India had an estimated 11.6 lakh new cancer cases and around 7.84 lakh cancer deaths in 2018.
What about the treatment?

◆ India has only 0.98 oncologists per 10 lakhs population and just 62 dedicated cancer care hospitals in the country 😲

◆ That's not it, 30-50% cases are not reported in India!

#cancer
Given India’s large population density and geography, the limited number of specialists limits treatment of cancer, especially in rural areas.

The highly inadequate infrastructure is the reason, a majority of patients have to travel thousands of miles for treatment.
Read 5 tweets
Jun 3
Ratios can be misleading if you don't read between the lines! 🧐

For instance,
Company A margin = 5%
Company B margin = 12%

If both companies are eerily similar, which company will you invest in?

Blind guess: Company B?

You could be wrong. Here's why ⤵️
What if we say, despite a low margin, company A generates more Return On Invested Capital (ROIC) than company B! 🤯

Company A's ROIC = 90%
Company B's ROIC = 60%

Don't believe?

Let's breakdown ROIC to understand better ⤵️

#investing
ROIC = Profit / Capital

This can be split into:
Margin = Profit / Revenue
Turnover = Revenue / Capital

So, ROIC = Margin * Turnover
Read 6 tweets
Jun 2
The US$ accounts for:

▶️ 88% of all forex trades
▶️ 59% of central banks reserves
▶️ 40% of the world’s debt issuance

But, how did US Dollar become the world’s darling currency? 🤔

Let's find out in this thread ⤵️

#MONEY #economy #USD
Gold, with a fancy name - ‘Gold Standard’, dictated currency prices some eight decades ago.

Each currency would mean a specified quantity of gold & international trades were settled by transfer of gold.

#Gold 🪙
But the two World Wars turned the tide for US$.

In the wars, the US marched in quite late & came out relatively unharmed.

With resources still intact, it became the supplier of weapons, goods as well as a lender for other countries.

#World #USA
Read 9 tweets
May 27
Top 6 Best Government Savings Schemes ⤵️

• Sukanya Samriddhi Yojana
• National Pension Scheme
• Public Provident Fund
• National Savings Certificate
• Atal Pension Yojana
• Pradhan Mantri Jan Dhan Yojana

-- A thread 🧵 --
#StockMarket
▣ SSY

The scheme has been launched to offer a means of saving to the girl child in every family 👨‍👩‍👧

--> Int rate - 7.60% p.a.
--> Maturity Period - 21 years
--> Investment Amt - Min Rs.250, Max Rs.1.5 lakh
--> Tax benefits - Up to Rs. 1.5 lakh
▣ NPS

Retirement saving scheme open to all Indians, but mandatory for all the govt employees. Indian citizens & NRIs in the age grp of 18-60 can subscribe to this 👴

--> Int rate - 8% to 9% p.a.
--> Investment Amt - Rs. 1000 Min
--> Tax exemptions - Up to Rs.2 lakh
Read 8 tweets
May 11
World's largest Cement Company, Holcim plans to quit the Indian market?

A detailed 🧵 on

- The reasons
- It's impact on Indian Cement Industry
- Who are the potential buyers?

#stocks #investing
Holcim is a Switzerland-based building materials conglomerate & world leader in cement manufacturing.

The company holds 63% in Ambuja Cement which in turn holds 55% in ACC. It also has an individual stake of 5% in ACC.
The company has been dominating Indian market for 17 years but now it's planning to exit India which means it will sell it's stake in Ambuja Cement and ACC Ltd!

But why it's doing so? Is profitability a concern?
Read 14 tweets

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