Blog
KYC: Your gateway to the world of finance
Your first step to the world of finance is ‘KYC’. KYC is an abbreviation for Know Your Customer. Under the Prevention of Money Laundering Act, 2002 (PMLA), it is mandatory for all financial institutions and intermediaries to complete the KYC process before initiating any financial transaction for a customer. Financial institutions/intermediaries are regulated either by the RBI or SEBI.
‘SIP’ it up to aim to create wealth
Systematic Investment Plan (SIP) is a plan in which investors at fixed time intervals (mostly monthly or quarterly) invest a fixed amount of money in mutual funds. This plan is similar to that of a traditional way of investing except that here your money gets invested into various asset classes such as equity, bonds, gold, etc. as per the asset allocation pattern and investment strategy as specified in Scheme Information Document.
Nomination … Just do it
Mr. X, aged 38 yrs, worked his entire life to build wealth and assets for himself and his family. Like many of us, he just focused on earning and accumulating wealth, while ignoring the most important reality of life, i.e., the inevitable, our death. Death could be untimely or timely (age related). COVID–19 highlighted the ugly truth of untimely death, which left many families across the globe,...
Systematic Withdrawal Plan (SWP)
We have all grown up learning life lessons through stories. However, as we grow up and get entangled in the vicious cycle of life, we tend to forget those stories and their lessons (remember ‘moral of the story’). Today, through this article, I would like to take you back in time and remind you of this beautiful story that we have all heard in our respective childhood.