Indian Stock Market and Mutual Funds

raksrules said:
I want it reinvested.
I might get the Shriram finance too renewed for 1 year or 1 year 3 months (it has little more interest).
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economictimes.indiatimes.com

New RBI directive to banks, NBFCs to ensure nomination in FDs, saving accounts: Check details

Nomination: To avoid undue hardship to survivors/ family members of deceased depositors, the RBI has asked banks to obtain nomination in case of all existing and new customers having fixed deposit accounts, savings accounts, and safety lockers.
economictimes.indiatimes.com economictimes.indiatimes.com
 
t3chg33k said:
The penalty is a 1% reduction in the accumulated interest based on the time period until when the FD is broken. It is not as if you are losing the principal if the FD gets auto-renewed. Depends on your risk apetite but even small finance banks have insurance with DGIC of upto 5 lakhs and thus are a relatively sage option for investments upto that amount for at least 100-200 basis points over what the big banks offer.
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I agree on the small finance bank but which is good once among those? Because chances of small finance banks going belly up is more compared to large banks or PSU banks.
 
raksrules said:
I agree on the small finance bank but which is good once among those? Because chances of small finance banks going belly up is more compared to large banks or PSU banks.
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Lots of them now tie up with various finance apps so you can open it online from within those apps after vKYC. However, they do run a higher NPA and those with higher NPA offer a higher rate. It comes down to how much you can trust the DICGC process to work when things go wrong.

I would normally use the RBI data on NPA to Advances to make an informative decision since recommending a specific one can backfire.
 
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