News | Fixed Income

Sovereign Gold Bond: Latest SGB tranche opens for subscription today, check issue price, other details

MAS Team 06 March 2023
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The Series IV subscription period for the Reserve Bank of India's (2022–23) Sovereign Gold Bond Program is now open. SGB tranche's subscription...

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PPF, SCSS, Sukanya Samriddhi, other small savings schemes: Government Clarified on what happens if an accountholder dies without nominee.

MAS Team 10 February 2023
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The Finance Bill 2023 proposed amending the Government Savings Promotion Act of 1873 which covers the Public Provident Fund, Sukanya Samriddhi,...

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NFO Alert: ICICI launches Prudential Fixed Maturity Plan – Series 88 – 1192 Days Plan R

MAS Team 24 January 2023
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Prudential Mutual Fund has launched a new closed-ended debt scheme ICICI Prudential Fixed Maturity Plan - Series 88 - 1192 Days Plan R. The issue was...

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NSC Interest Rate Hiked

MAS Team 09 January 2023
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The government has increased the National Savings Certificate interest rate for the January-Walk 2023 quarter to 7% from prior 6.8%

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RBI Floating Rate Bonds Interest Rate Hiked From 1st January

MAS Team 31 December 2022
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The Reserve bank of India on 30th December through a press release announced that they are planning to hike the interest rates on floating rate...

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Good News for Small Investors in Post Office Savings Schemes: Senior Citizen Savings Scheme, Post office Time Deposits, MIS, NSC, KVP Interest Rates Hiked by up to 110 bps from 1 January 2023

MAS Team 31 December 2022
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The government has hiked the interest rates of a few small savings schemes by between 20 bps and 110 bps for the January-March 2023 quarter. The...

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Bank of Baroda's Special Fixed Deposit Offering 7.5% Interest Rate to End on 31st Dec

MAS Team 28 December 2022
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Bank of Baroda has recently increased the interest rates offered on its 'Tiranga Deposit Scheme', a limited period special retail term deposit (fixed...

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DCB Bank Hikes FD Rates, Senior Citizens Can Now Get up to 8.35%

MAS Team 23 December 2022
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DCB Bank has announced an interest rate hike on fixed deposits under Rs2 crore. According to the bank's official website, the new rates come into...

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SBI Now Offers 7.25% Interest Rate on FDs For Senior Citizens

MAS Team 17 December 2022
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SBI Fixed Deposit interest rates for senior citizens have become better. The public sector bank has revised FD rates of various tenors for depositors...

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Unity SFB & Suryoday SFB Offer Above 9% Interest Rate on FDs

MAS Team 09 December 2022
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In 2022, banks started increasing fixed deposit (FD) interest rates. And since then the FD interest rates offered by many banks are now in the range...

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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