ABK Financial Services

Something that can benefit Retail Investors in coming sessions :

SEBI has come up with 25:25:25 equity asset allocation rule for Multi Cap funds...

It means by Jan 2021 all multi cap funds need to have 25% each in Large/Mid/Small cap equity...

Traditionally only 65% was allocated into equity but now raised to 75% with category wise specifications...

What it means ?

Now there would be lot of buying pressure for fundamentally strong Small Cap and Mid Cap fund to meet the regulatory requirement ...

Broader market awaits Rs 40,000 crore bonanza as Sebi tweaks multicap fund rules The market regulator said multicap funds will now invest minimum 75 per cent of total assets in equities with 25 per cent each in largecap, midcap and smallcap companies.

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Wonderful move by IRDA to provide ULIP customers option to invest in index funds ...

Working group recommendations is pending but once in, ULIP will be able to offer Index Funds which would benefit a whole group of customers who prefer index funds vs equity funds ...

IRDAI may allow life insurers to offer index funds - Cafemutual.com In fact, the insurance regulator has set up a working group to identify opportunities in index funds for life insurance companies.

Prohibition of fraudulant and unfair trade practice (PFUTP ) case update !

SEBI directs 3 entities to disgorge ₹2.33 crore in fraudulent trade case Capital markets regulator SEBI has directed three entities to disgorge over ₹2.33 crore of ‘wrongful gains’ made by them by indulging in manipulative trading in the shares of Urja Global Ltd and Sampa

A part of financial planning strategy is to have emergency corpus for at least 6 months ...but this Covid has forced many to rethink about this long proven traditional philosophy...

And during these times when the income/business is under stress, not for leisure or luxury but for any emergency requirement;

where you need financing like PL or to meet your wokring capital requirement you need a buisness loan ....

Please feel free to connect and get the best possible rates !

In current times where the interest rate on Bank Fixed deposits have come down and fewer options for safe debt investment, we list a few options worth evaluating in order to get a fixed rate of return

1) Senior Citizen savings Scheme issued by LIC PMVVY (Prime Minister Vaya Vandana Yojana)
It is for senior citizen above age of 60 years
Maximum investment: Rs 15 lakhs
Period/Tenure: 10 Years
Interest Rate: Yearly - 7.60%; Half Yearly - 7.52%; Quarterly - 7.45%; Monthly - 7.40%
Interest is TAXABLE.

2) Floating Rate Savings Bond, 2020 (Taxable)
Anyone can invest including minor, not applicable for NRI
No maximum limit on investment.
Period/Tenure: 7 Years
Interest Rate: Currently 7.15%, interest rate changes every 1st Jan and 1st July every year.
Interest is TAXABLE.

3) Bajaj Finance Ltd
Anyone can invest including NRI via NRO account only.
No maximum limit on investment.
Interest Rate: 12 Months - 6.90%; 24 Months - 7.00%; 36 Months - 7.10%.
Senior Citizen get 0.25% extra
Interest is TAXABLE.

4) HDFC Ltd.
Anyone can invest including NRI via NRO account only.
No maximum limit on investment.
Interest Rate: 33 / 66 Months - 6.88%; 15 Months - 6.73%; 22 / 44 Months - 6.83%; 30 Months - 6.78%; 12 - 84 Months - 6.68%.
Senior Citizen get 0.25% extra
Interest is TAXABLE.

5) Mahindra and Mahindra Financial Services Ltd
Anyone can invest including NRI via NRO account only.
No maximum limit on investment.
Interest Rate: 12 Months - 6.70%; 18 Months - 6.90%; 24 Months - 6.95%; 30 Months - 7.10%; 36 Months - 7.15%; 44-60 Months - 7.25%.
Senior Citizen get 0.25% extra
Interest is TAXABLE.

6) Debt Mutual Fund
Anyone can invest including NRI via NRO account only.
No maximum limit on investment.
No guaranteed fixed returns, depends on the Yield, Tenure, Interest rate movement and credit quality of the portfolio
Biggest advantage is the indexation benefit the investor gets which is not available in Fixed deposits or any interest paying instrument. This leads to a reduced tax burden for investors falling in 20% bracket and above.

Sharing some good news with all well wishers on the progress over the last 1.5 months ...

Milestone 1 : July 2020

ABK Financial Services Registered as proprietorship firm

Milestone 2: Aug 2020

- SEBI and IRDAI registeration as a sub broker (Equity and Insurance)

- Associated with almost all AMCs for MF...

- PMS services

- Real Estate

- Loans (LAP/LAS/PL/HL)

Thank you for all the support and look forward for continuing support from all near and dear ones ...

Mission : Creating 10k self made Indian Billionaires with proper planning and guidance ! ...

Making dreams come true is what we work upon for our clients !

🙏🙏

Some are hits but some are bizzare !

Sebi's new margin norms will be painful for investors, market participants Come September 1, stockbrokers will have to report the upfront margin collected and available with them from their clients

Premium rates are yet to be finalized ...exclusive Corona specific cover !

'Corona Kavach', 'Corona Rakshak' insurance policies to be available from July 10; details here The insurance companies will offer two standard COVID-19 health insurance policies – ‘Corona Kavach’ and ‘Corona Rakshak’ from July 10. Get latest Personal Finance online at cnbctv18.com

Good news for policyholders :
IRDA has come up with a new regulation ...all health insurer claims need to be paid by insurance companies irrespective of anything if 8 years premium has been paid....
Check this out !

after-eight-year-moratorium-all-health-insurance-claims-to-be-paid-says-irdai-5393951.html

Insurance pe*******on of ~4.1% (life) And ~2.7% (non life) is way to less than the ideal ...

And now covid 19 has bought a altogether different dimension ...IRDA worried that the number of claims insurers are receiving vs the number of cases reported shows a very sad picture ...

Financial Planning is not only about growing wealth ...the foundation of planning is threefold ...

Protect - Preserve - Plan for goals but most of the people get it wrong by going in reverse order ...

They first plan for their goals (which is good) but without the other two I.e Protection ( existing /future wealth) And preservation ( emergency fund)

Less than 4% of Covid-19 patients in India have insurance Policymakers are worried that the number of Covid claims is only 8,500 with a claim amount of Rs 135 cr.

UPDATE :
There is some technical issue with NSE Bank Nifty...all existing open positions will be squared off and no new positions can be taken ...