“It doesn’t matter that we have a precise definition. There’s so much demand for financial services in the country that we don’t need to delineate ‘you get it, you don’t’. Everybody needs it. - Raghuram Rajan, Governor, RBI, in Business Standard


Why registration of immovable property is important?

Registering your immoveable property should be the top priority when you buy a house, commercial shop or land as it proves your legitimacy to carry out any transaction. A person is considered the legal owner of a property only after he gets the property registered in his name.

If you fail to register the property, the previous owner or the developer will be considered the legal and rightful owner. Legally, the sale of property won't be considered valid till the sale deed is duly stamped and registered. The basic purpose of registration is to record the ownership of the flat.

The seller of the property is called the “transferor” and the purchaser is called the “transferee”. The purchaser of the property pays the stamp duty and registration charges... Read more

What is home loan sanction letter?

Buying a house needs a lot of planning such as deciding the location of the house, arranging funds, etc. Once you have finalised the house which you need to buy, ensure that you have sufficient amount of funds to be paid to the seller of the house—to get the possession of the house on time.

With rising property rates, most of us avail of home loans before buying a house or after making partial payment for the house. It is advisable to apply for a home loan before buying a house. While availing for a home loan, it is necessary to get a home loan sanction letter from a bank or a financial institution such as an NBFC (Non-banking financial company) or HFC (housing finance company).

In the entire process of home loan—right from the application to the final disbursement, the sanction letter from a bank or financial institution holds a lot of importance... Read more


Promoters: Promoters are the entities that floated the company, and to a large extent have seats on the Board of Directors or the management. Relatives of the promoters who hold shares also fall under this class and are termed the promoter group.         


Form 15G & 15H: Save TDS on interest on FDs

We invest money in fixed deposits to get better returns. If you go through the instructions mentioned on your FD certificate, it usually mentions: “If the depositor is not liable to pay income tax and the interest to be paid in a financial year does not exceed the maximum amount which is not chargeable to income tax, the depositor may submit a declaration in Form No. 15G / 15H so that income tax is not deducted at source.” What does the statement mean. The below article provides a comprehensive picture of what does 'Form No. 15G' and 'Form No. 15H' mean.

Banks normally ask depositors to submit Form No. 15G and Form No. 15H each year. There are different rules as to who can submit Form No. 15G and Form No. 15H... Read more


RBI initiates swap of old gold with new one

Mutual funds’ average assets post a record rise in June quarter

MF asset base at Rs. 9.85 trillion in Q1 FY15


FLAME (Financial Literacy Agenda for Mass Empowerment) is an IIFL initiative to promote financial literacy amongst the masses in order to make them an integral part of India’s spectacular growth story.

In an era of accelerating GDP and rising per capita growth, financial literacy has become more critical than ever before such that we all reap the tangible benefits of the nation’s economic prosperity. Financial inclusion has been quite high on the governmental agenda, given its emphasis on widening the Banking & Financial services network across the country. IIFL’s FLAME initiative stands committed to complement this effort by helping common people gain financial growth and security though better awareness and education on the variety of financial products while avoiding the lure of and loss from unrealistic claims made by unscrupulous agents and ponzi schemes.

Our objective is to light a FLAME, as the name suggests, which will set ablaze a chain of FLAMEs across the country. The new-found light of knowledge will undoubtedly dispel the dark clouds of financial illiteracy and ensure the bright sunshine of financial growth and prosperity.

This portal is but one of the various IIFL initiatives that would be part of FLAME.

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