Career Search

Tuesday, February 19, 2013

Rajiv Gandhi Equity Savings Scheme (RGESS) - Scheme to draw investors to equity goes live today

 

FINANCE minister P Chidambaram will launch the much-awaited Rajiv Gandhi Equity Savings Scheme (RGESS) in Mumbai on Saturday, a move likely to encourage new investors to put their money in the stock market.

 

"He (Chidambaram) will formally launch the Rajiv Gandhi Equity Savings Scheme in Mumbai on Saturday," sources said.

The scheme, which was announced in the Budget for 2012-13, seeks to provide tax benefits to first-time investors in stock market.

Under the scheme, an individual with an income of less than Rs 10 lakh would get tax incentives for investing up to Rs 50,000 in the stock market.

As per the notification issued by the Securities and Exchange Board of India (Sebi) on RGESS, there would be a lock-in period of one year on investments made under the scheme.

Besides, Chidambaram will also inaugurate the equity trading platform of MCX-Stock Exchange (MCX-SX) on Saturday.
However, the exchange would commence live trading in equities from February 11.

MCX-SX is providing trading platform for currency derivatives segment at present and would become a full-fledged stock exchange after the launch of other segments like equity, equity derivatives, bonds and interest rate derivatives.

The finance minister is also likely to meet heads of top 30 non-bank financial companies and discuss with them issues related to infrastructure financing, rising non-performing assets along with grant of banking licences to new players by the Reserve Bank, sources said.

RBI is likely to issue final guidelines for grant of banking licences to new players by the end of February.

A number of large corporate houses, including Anil Ambani-led Reliance Group, financial conglomerates Religare and Shriram groups, engineeringto-technology major L&T group and Aditya Birla group, are said to be interested in entering the banking business depending on the regulatory framework.

 

Chidambaram is also scheduled to attend the board meeting of the largest lender State Bank of India, a week before the bank is slated to declare its third quarter earnings on February 14. There would be a lock-in period of one year on investments made under the scheme Chidambaram will also inaugurate the equity trading platform of MCXStock Exchange on Saturday MCX-SX is providing trading platform for currency derivatives segment at present

Happy Investing!!

We can help. Call 0 94 8300 8300 (India)

Leave your comment with mail ID and we will answer them

OR

You can write back to us at PrajnaCapital [at] Gmail [dot] Com

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

  1. ICICI Prudential Tax PlanInvest Online
  2. HDFC TaxSaverInvest Online
  3. DSP BlackRock Tax Saver FundInvest Online
  4. Reliance Tax Saver (ELSS) FundInvest Online
  5. Birla Sun Life Tax Relief '96 Invest Online
  6. IDFC Tax Advantage (ELSS) FundInvest Online
  7. SBI Magnum Tax Gain Scheme 1993Invest Online
  8. Sundaram Tax SaverInvest Online
  9. Edelweiss ELSS Invest Online

------------------

Best Performing Mutual Funds

    1. Largecap Funds Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Birla Sun Life Front Line Equity Fund
    2. Large and Midcap Funds Invest Online
      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
    1. Mid and SmallCap Funds Invest Online
      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
    1. Small and MicroCap Funds Invest Online
      1. DSP BlackRock MicroCap Fund
    1. Sector Funds Invest Online
      1. Reliance Banking Fund
      2. Reliance Banking Fund
    1. Tax Saver MutualFundsInvest Online
      1. ICICI Prudential Tax Plan
      2. HDFC Taxsaver
      3. DSP BlackRock Tax Saver Fund
      4. Reliance Tax Saver (ELSS) Fund
    2. Gold Mutual Funds Invest Online
      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund

No comments: