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