Tag Archive: consult a  financial planner

Financial Planning for Pilots

Financial-Planning-for-pilots

Our international flight landed at Mumbai airport and I heaved a sigh of relief. I was irritated by Long sitting hours, headache, temporary deafness due to air pressure, booming noise, turbulence and last but not the least-fear of crash. While exiting the plane, a passing thought came to my mind- if air traveler goes through all these what about the staff especially the Air pilot who do their job day in day out!

Beyond the excitement of flying the plane, a Pilot’s career means odd working hours, medical issues, mandatory retirement age and job uncertainty due to airlines going bust.

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April 9, 2018 Financial Planning, , , , , 0 Read more >

Are your bank FD safe with PSU banks?

Are-your-PSU-banks-FD-safe

The recent news of Bank scams and huge losses incurred by banks are making the common man jittery over the safety of one’s hard earned savings. Bank FD is the most natural option used by salaried class to park their savings to provide for the future needs. One, because the nationalised banks are owned by the government and its was indirectly a guarantee that your funds are in safe hands. Whenever there has been a doubt about the viability of a Bank, RBI has stepped in and ensured safety of investor deposit by merging of weaker banks with the stronger ones. Let’s have a look at the regulatory provisions to know how safe your deposits are.

Bank deposits in value terms are insured by the Deposit Insurance and Credit Guarantee Corporation of India (DICGC), a wholly owned subsidiary of the RBI. The deposit insurance covers all commercial banks, local area banks, regional rural banks and cooperative banks. You should be aware that only Rs 1 lakh of your savings is insured. This limit has not been revised since long. As an investor you should also know the worst-case scenario in case something untoward happens.

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March 17, 2018 FDs, , , 0 Read more >