Friday, December 16, 2011

Thank You For 1 Million Views

One Million Content Hits, Thank You

Posted: 15 Dec 2011 08:27 AM PST

Just noticed that my website crossed 1000000 content view hits. Thanks for reading. The site has content on 347 topics and growing.

personal finance website statistics

1 Million!

The statistics are on the right sidebar, near the bottom of the website, if you are interested.

More importantly, thanks for your emails and calls that encourage me to share more and more information.


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Thursday, March 3, 2011

SBI Bonds Issue: 2011

SBI said it plans to retain a portion of the retail over-subscription to its tax-saving bonds issue, which will take the total amount raised through the mega issue up to Rs 5,500 crore. 

"We will retain up to may be Rs 5,500 crore... The rest we will return," Bank Chairman O P Bhatt told reporters on the sidelines of an IBA conference here today. 

As against an allocated Rs 1,000 crore, subscription by retail investors stood at Rs 4,500 crore, while an additional subscription of nearly Rs 4,000 crore came from other investors, including high net-worth individuals. 

"Our terms of issue are such that in the retail segment, we could take as much as we want up to Rs 10,000 crore, while from other investors we can take up to Rs 1,000 crore," Bhatt explained. 

The issue, which had opened on February 21, closed yesterday. Investors were attracted to the issue because of its competitive coupon rate and the timing, as the end of the fiscal is usually when individuals do tax-saving investments. 

This issue is part of the Rs 10,000 crore retail bond programme SBI has planned for FY'11 through FY'12. The bank had raised Rs 1,000 crore through in the first tranche of the issue last October, which was oversubscribed 19 times. That was the first retail bond offering in the country by a corporate entity. 

The bank is offering a 9.75 per cent coupon rate to retail investors on the 10-year bonds and 9.3 per cent for non-retail applicants. These bonds carry a call option in the fifth year. 

For the 15-year bonds, the coupon is 9.95 per cent for retail investors and 9.45 per cent for non-retail investors. These bonds have a call option in the tenth year.

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Wednesday, February 16, 2011

UTI Fixed Maturity Plan

We saw a review of FMPs and here's an announcement

UTI MF announced the launch of UTI Fixed Maturity Plan - Yearly Series - February 2011 (YFMP 02 / 11) and the details are as given below:
UTI Fixed Maturity Plan - YFMP (02 / 11)
Launch Date/Specified 
Transaction Date 

(in case of 
interval fund)
Last DateMaturity Date Minimum AmountEntry Load
16-Feb-2011 21-Feb-2011March 23, 2012  10,000 (Retail) 
 1 Cr (Institutional)
Who should Invest?
For all class of investors i.e. Corporates , HNIs , MNIs & Retail who have a pre 
decided investment horizon. 
 - As a prudent investor one needs to have a proper asset allocation in place 
   and FMPs offer that much-needed stability to the investment portfolio. 
 - Thus, even aggressive investors who normally prefer equity investments 
   should invest a part of their corpus in FMPs.
Investors who are not satisified with the returns from conventional 
fixed income avenues
FMPs are ideal for 
 - Risk-averse investors who seek safe avenues for investment and 
   in the process keep money in the form of bank deposits 
 - Investors who want to park money for a fixed period of time with a 
   view to meeting certain financial goals in near future
The Tax Angle
In the case of FMPs the return can be in the form of dividend or 
capital appreciation depending upon the option of the investor 
 - Dividend is tax free in the hands of the investor while the fund 
   has to incur a Dividend Distribution Tax 
 - In the case of investments for more than a year and under 
   growth option, long-term capital gains tax at 11.33% (without 
   indexation benefit) and 22.66% (with indexation benefit) is applicable
Ranjan Varma
Blog; Website; Software

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