News | Money Transfer

UPI payment for international travellers: Eligibility, Documents Needed, and Other Important Information

MAS Team 25 February 2023
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Unified Payments Interface (UPI) payments are now frequently utilised for retail electronic transactions in India.The Reserve Bank of India (RBI) has...

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Most e-wallets may get invalid by February

MAS Team 02 February 2019
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Digital payments maybe staring at serious uncertainties owing to sector regulations

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RBI extends safety net to unauthorised electronic transactions involving PPIs

MAS Team 05 December 2018
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The RBI (Reserve Bank of India) would extend the safety net of credit card users to unauthorised electronic transactions involving prepaid payment...

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E-filing of lower court cases with e-payment of court fees to be introduced

MAS Team 25 July 2018
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An e-filing module for e-filing of cases with e-payment of court fees is ready for all courts in India. Already e-filing has been started in...

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NPCI set to launch Unified Payment Interface 2.0

MAS Team 13 July 2018
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Transaction cap may be doubled to Rs2 lakh in UPI 2.0

MAS Team 06 July 2018
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Demonetisation gives big push to mobile wallets

MAS Team 11 August 2017
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Soon, you will be able to make instant money transfer through WhatsApp

IANS 11 August 2017
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Emirates NBD launches DirectRemit 2 Mobile funds transfer platform from UAE to India

MAS Team 24 August 2015
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Emirates NBD, a leading bank in the United Arab Emirates, announced the launch of an innovative funds remittance service, DirectRemit 2 Mobile that...

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UAE Exchange offers instant India bank transfers

MAS Team 10 March 2015
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Global remittance provider UAE Exchange has tied up with YES Bank, India’s 4th largest Private Sector Bank, for real time money transfers to...

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Changes in Our Business Model
 
 
25th Sept 2020
 
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
  • 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