Newsletter Febuary

The Reserve Bank of India (RBI) announced a hike in repo rate by 25 basis points to 7.5%. Following this hike, other banks would be raising their interest rates soon. It’s good news to some and bad news to the others depending on diverse reasons.
The increased interest rates’ direct impact would fall on the home loan front. This would have a huge influence on homebuyers for the cash outgo has increased again within 2-3 months from the previous interest rate hike.

The state insurer, Life Insurance Corporation of India (LIC) launched two children plans-Child Career Plan and Child Future Plan on February 8 2007. These two plans are MoneyBack With-Profit plans and are designed to meet the increasing educational needs and events like marriage, which require monetary assist.

On 1 January 2007, detariffing hit the general insurance sector. And with this fire, engineering, motor insurance came under its regime. In a move to meet the demands from the industry to put an end to the tariff regime, the Insurance Regulatory and Development Authority (IRDA) structured a timetable in September 2005 to withdraw all tariffs with effect from January 1, 2007.

Have you insured your home? If yes, have you read the fine print clearly? If you have been under the impression that your house is protected throughout the year, you are in for some reality check.

The stock market has created a record by reaching its all time high at 14,500. This performance has raked in considerable profits to investors who have more reasons to celebrate. Though the investment in stock market is a risky option, it can be worked out in your favour if you stay invested for a long term. The investors recommend a long-term approach in equities if decent returns are what you are targeting at.

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