PPF, Sukanya Samriddhi interest rates unchanged for next 3 months

The Finance Ministry has decided not to revise the interest rates on small saving schemes for the quarter July-Sep 2021.

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EPFO: Interest Payment of 6 Million Subscribers Stuck due to Glitch

At least 6 million, or 10-12%, of Employee Provident Fund Organisation's (EPFO) subscribers will have to wait longer for their 2019-20 interest...

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Govt Discontinues 7.75% Taxable Retail Bonds from 28 May

The government will no longer sell its savings bonds that provided returns at 7.75 per cent (on a taxable basis), it said in a notification on...

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Debt markets may see rise in delinquencies and defaults; MFs at risk

As corporate earnings start to reflect the early pain from the coronavirus-induced lockdown, financial markets are yet to price in the deep impact,...

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Returns on PPF, NSC May be Lowered after RBI move

The government may be forced to lower interest rate on small savings schemes such as Public Provident Fund and NSC when it reviews them at the end of...

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Kisan Vikas Patra - Interest rate cut

The interest rate on KVP has been lowered to 7.6% for the September quarter, compared with 7.7% in the April-June period.

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Centre cuts interest on General Provident Fund by 10 bps to 7.9%

The government has cut the rate on the general provident fund by 10 basis points (bps) to 7.9% with effect from 1st July 1.

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DHFL defaults once more on commercial papers repayment

DHFL on Tuesday managed to only meet 40% of its 375 crore repayment commitment towards commercial paper repayment

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New Credit Rating norms prescribed by SEBI

The Securities and Exchange Board of India (Sebi) on Thursday prescribed guidelines including probability of default (PD) benchmarks in a bid to...

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PPF, Small Savings Scheme Interest Rates Left Unchanged

Interest rates on small saving schemes such as National Savings Certificate and Public Provident Fund will remain unchanged for the April-June...

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Changes in Our Business Model
 
 
Greetings from Moneylife Advisory Services
 
Between financial years 2019-21, SEBI has come up with extensive changes to investor advisor regulations. On Sep 23, 2020, SEBI had issued new additional guidelines. This comes just two months after extensive changes announced in July 2020. Earlier, in December 2019 there was an ad hoc circular
 
As a result of these changes, IAs, cannot accept fees through credit cards, will have to sign a 26-clause investor agreement, have to maintain physical record written & signed by client, telephone recording, emails, SMS messages and any other legally verifiable record for five years. IAs were already asked to record the suitability and rationale for every piece of advice given, sign them and store them for five years.
 
While these extensive and frequent changes, designed to strengthen the conduct of IAs are well-meaning, these have sharply increased compliance efforts and cost. We, being online advisors, find many of changes harder to implement, compared to advisors working in the physical space. We will have to have an army of advisors, administrative and tech staff to be compliant. If we do this, we will have to divert money to these areas and the cost of our service will double. We want to remain the least-cost service in the market to benefit more and more people. In the circumstances, we are forced to change our business model from “advisory” to “research”. This will mean the following:
 
What remains the same:
  • Recommendations on insurance, investment and Lion stocks, will continue as a part of the MAS premium subscription. Our strength has always been research and this will remain available to you through our recommendations.
  • The magazine and all textual content will remain as part of the service
  • The investools will have to be reworked and will offer model portfolios. We will have to suspend the restructuring tool.
 
What changes:
  • The interactions in Ask / Handholding will offer investment advice but not specific to your situation. It will offer information on investment products and also clarify your doubts about various financial products. It will be a forum for information, not for advice. This will be implemented with immediate effect and our guidelines in Ask, reflect this now.
 
Over the next few weeks our site and our communication to you will reflect these and other additional changes.
 
We feel this will not affect you much in terms of what really matters in investing: knowing what to buy and when to buy. This is our edge and it will still be available to you.
 
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Debashis Basu
Founder