Specialisation

Finance
Industry
Finance/Insurance
Subject
WHAT IS ISIN IN SHARES?

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WHAT IS ISIN IN SHARES?

International Securities Identification Number (ISIN) is a unique code which identifies each
security, while buying and selling of shares. It is a 12 character alpha-numeric code that uniquely
identifies a security.
An ISIN uniquely identifies a security, such as stocks, bonds and more. ISIN is necessary for
transfer of share. ISIN is issued by National Numbering Agency (NNA), designed by ISO
(International Organization Of standardization). In India, SEBI acts as NNA.
Depositories shall activate the ISINs only on the date of commencement of trading on the
stock exchanges.
For example we will consider ISIN of Bharti:
INE397D01024
o The first two characters represent country code (IN)
o The third digit is for identifying the issuer type (E)
o The next four characters represent company identity
(397D). Here, the first 3 characters are numeric. The
fourth character is alpha character.
o The next two characters represent security type for a given
issuer (01).
o The next two characters are serially issued for each security of the issuer entering the system (02).
o Last digit is double-add-double check digit (4).
ISIN code is helpful when investors wants to freeze his account or particular number of
securities under an ISIN for any given period of time.
In case of dematerialization, separate DRF has to be filled for each ISIN. Equity-fully paid
up, equity-partly paid up, equity with differential voting /dividend rights issued by the same issuer
will have different ISINs.
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Specialisation
Finance
Industry
Finance/Insurance
Subject
8 THINGS TO CONSIDER BEFORE INVESTING IN DEBT MARKETS

Message

8 THINGS TO CONSIDER BEFORE INVESTING IN DEBT MARKETS

The debt market are less risky when compared other market such as equity market. It is the
market where fixed income securities of various types and features are issued and traded.
These debt instruments usually issued by Central and State Governments, Municipal
Corporations, Govt. bodies and commercial entities like Financial Institutions, Banks, Public Sector
Units, Public Ltd. companies and also structured finance
instruments.
1. One should consider the discount implied by the price as in
the case of zero coupon bonds and the frequency of interest
payments.
2. Timing of Cash Flows - In case the interest and redemption
proceeds, at one single point or at different points of time, are
planned to be used for meeting certain planned expenses in
the future.
3. Information about the Issuer and the Credit Rating - It is essential to obtain enough information
about the background, the business operations, the financial position, the use of the funds being
collected and the future projections to satisfy oneself of the suitability of the investment.
4. Obtain all the relevant knowledge on the debt security like the coupon, maturity, interest
payments, put and call options (if any), Yield To Maturity (at the particular price at which the trade is
intended to be carried out) and the Duration of the Instrument.
5. Check the Yield To Maturity (YTM) of the debt security with the YTMs of other comparable debt
securities of the same class and features.
6. Remember that the Yield and the Price are inversely related. So, you will be able to obtain a
higher yield at a lower price.
7. It is desirable to check on the liquidity of any corporate debt instrument before investing in it so as
to ensure the availability of satisfactory exit options.
8. The Debt Markets are suited for investors who seek decent returns over a longer time horizon with

periodic cash flows. There is also a tax exemption for interest earned on G-Secs. up to Rs.3000/under Section 80L of the Income Tax Act.
Source: BSE
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Finance
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Banking & Investment
Subject
RBI PERMITS BANKS TO ACT AS INSURANCE BROKERS

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RBI PERMITS BANKS TO ACT AS INSURANCE BROKERS

Seeking to increase insurance penetration in the country, the Reserve Bank on Thursday
allowed banks to act as brokers for insurers, set up their own subsidiaries and also undertake
referral services for multiple companies.
Banks may undertake insurance agency or broking business departmentally and/or through
subsidiary,..., RBI said in the guidelines for entry of banks into insurance business.
The banks have also been allowed to set up subsidiaries and joint venture companies for
undertaking insurance business with risk participation, it said.
They can also act as corporate agents without
seeking prior approval from the RBI. However, they will have
to comply with IRDA guidelines.
Under existing bancassurance guidelines, a bank can
act as a corporate agent and sell policy of only one life
insurer and one non-life insurance company.

The new guidelines allow banks to act as brokers permitting them to sell insurance policies
of different insurance companies.
The guidelines follow an announcement made by the former Finance Minister P
Chidambaram in 2013-14 Budget.
Banks will be permitted to act as insurance brokers so that the entire network of banks
branches will be utilised to increase the penetration of insurance, the Budget had said.
There are about 87 commercial banks in the country with 1.2 lakh branches across the
country. There are 52 insurance companies operating in India; of which 24 are in the life insurance
business and 28 are in general insurance business. In addition, GIC is the sole national reinsurer.
- BUSINESS LINE

Specialisation
Finance
Industry
Finance/Insurance
Subject
WHAT ARE THE LIABILITIES OF A CO-HOME LOAN APPLICANT IN A HOME LOAN?

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WHAT ARE THE LIABILITIES OF A CO-HOME LOAN APPLICANT IN A

HOME LOAN?
Today, with several couples working and managing the family, especially young couples,
several of them have joint home loans. Joint home loans come with several advantages including
ability to get an extra loan based on the income of the spouse.
It also gives both the co-applicants of the home loan
tax benefits. In fact, you get tax benefits under Sec 80C of the
Income Tax Act for the principal amount paid to the tune of a
maximum of Rs 1.5 lakhs, while you get tax benefits of up to
Rs 2 lakhs for the interest paid on the home loan. Both the
limits were enhanced in the Union Budget of 2014-15.
What are the liabilities in a home loan for a co-applicant?
Home loans while coming with tax benefits, also come with liabilities. For example, in case
of death of one of the holders, the other co-applicant has to make sure that he bears the entire
responsibility for payment of the balance of the loan. Therefore, when taking a loan it is very

important that the co-applicants ensure that they are able to pay the entire amount in case of absence
of one of the applicants.
Now another important thing to note is that if you are a co-applicant as well, your CIBIL
score will be accounted for. So, in case you fail to pay up, due to the demise of the co-applicant or
for whatsoever reason, you are likely to have a bad credit score. What this means is that you would
face challenges in taking loans for the future.
Conclusion
The most important thing to remember when taking a home loan is that in case there is a
difficult of one of the applicants to honours the commitment the other co-applicant should be able to
shoulder the responsibility.
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WHAT DO THE VARIOUS DIGITS ON YOUR CREDIT CARD SIGNIFY?

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WHAT DO THE VARIOUS DIGITS ON YOUR CREDIT CARD SIGNIFY?

Most of us use credit card in our day to day life and some of us do remember the 16 digit
number on it. But how many of us know what exactly these digits signify?
Numbers on credit card are not just any random numbers, each digit has a meaning and
purpose. Most of the nations use ANSI Standard X4.13-1983. Do you know why it is important to
know your billing cycle?
Credit card number length will change depending from issuer, the most usual is 16 digits
divided in groups of 4.
The first digit is the Major Industry Identifier (MII). Click to know what are the documents
needed to apply for Credit Card.
It identifies the category of the card issuer and where the card will be most used in. This
forms the first group.
For example, if the card starts from 1 or 2, it means it is issued by airlines or such industries.
Let us take a look at the other numbers on the card.
3 it for American Express, Diner's Club
4 is for Visa Card (Banking & Financial cards)
5 is for Master Card are (Banking & Financial cards)
6 is for Discover Card (Merchandising, Banking &
Financial cards)
7 is for Petroleum Cards
8 is for telecommunications cards
9 are for national assignment
In the second group
From second to sixth digits is know as the Issuer Identification Number (IIN). This provides
information on which bank issued the card, the country of origin, and sometimes the specific card
type.
Third Group
The numbers after the 6 th digit (except the last digit) is the account number.
Fourth Group
The last digit on any credit card is known as Check digit, which helps in validating the credit
card number.

Lastly, we have three or four digits on back of your credit card, it is necessarry while using
card at merchandise outlets. These digits come in use when the card is used online or through
telephonic mode.
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VIJAYA BANK OPENS 13 LAKH ACCOUNTS UNDER JAN DHAN SCHEME

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VIJAYA BANK OPENS 13 LAKH ACCOUNTS UNDER JAN DHAN SCHEME

Vijaya Bank has opened 13 lakh accounts under the PMJDY (Pradhan Mantri Jan Dhan
Yojna), according to Kishore Sansi, Managing Director and Chief Executive Officer of the bank.
Addressing presspersons in Mangaluru on Thursday evening, Sansi said the bank had
surpassed its targets. It had identified the households to be covered much before the timeline set by
the Finance Ministry. Rupay cards were issued to 72 per cent of customers, he said.
On the number of zero-balance accounts, he said 54 per cent of the accounts opened under
PMJDY came under this category. However, the bank was able to get ?38 crore as deposits from
PMJDY accounts.

To a query on the plans to make PMJDY accounts operational, Sansi said the bank was
expecting all the subsidies of the Government to be routed through these accounts. In the next 12
months, 80-85 per cent of all accounts opened under PMJDY
would be operational, he said.
- BUSINESS LINE

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Specialisation
Common
Industry
Management
Subject
HOW TO SPEND THE FIRST AND LAST 10 MINUTES OF YOUR WORKDAY

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HOW TO SPEND THE FIRST AND LAST 10 MINUTES OF YOUR

WORKDAY
Make it a habit to spend a little time every day planning your workday and wrapping up your
day.
Here are some habits to get into:
The First 10-15 Minutes
Set aside at least 10 minutes at the beginning of the
day to plan your day:

What calls and meetings on my calendar do I need to

prepare for?
What are the three top things Id like to accomplish today? Is time to complete those things on
your calendar?

What is the most important thing for me to get accomplished this morning?
Are the activities represented on my calendar today consistent with my most valuable activities?
The Last 10-15 Minutes
Set aside at least 10 minutes at the end of the day to wrap up:

What important things did I accomplish today?

What meetings, calls, and activities do I need to follow up on? Who do I need to follow up with?
Did I do a great job today of focusing on my most valuable activities? What corrections in
course do I need to make tomorrow?
Is there anyone I need to reach out and say thanks to?
Begin your day with a plan and end your day with a recap every day.
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FIVE SMART WAYS TO FILE TAX RETURNS

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FIVE SMART WAYS TO FILE TAX RETURNS

CAREEREALISM

Tax filing has become simpler and more convenient than the complicated process it used to
be a few years ago. Yet, a lot of taxpayers find it difficult to file their returns and outsource the entire
process to a tax professional. That's surprising because some of the private e-filing portals
handhold the taxpayer through the entire process, and even offer guidance if you cannot find your
way.
The story this week is meant to empower the reader
to file his tax return himself. We have broken down the
process into five steps. You start with checking your tax
credit statement and reconciling it with the tax you have paid
during the year. Next, you choose the correct form for filing
your return. The choice of the form will depend on the type of
income you have. Admittedly, this is a tricky area and even
the tax experts we spoke to were divided on where the
taxpayer stands.
After this, you have to decide on the mode of filing. While e-filing is mandatory for those
earning more than Rs 5 lakh a year, how you do it is still your call. We also tell you what to look out
for if you file your return through a private portal.
Lastly, we caution you against the common mistakes that taxpayers make. Over the next
four weeks, millions of Indian taxpayers will file their returns. Many of them will make mistakes and
their returns will invite notices from the tax department. We hope that after reading our story, you
will be able to file an error-free return.
STEP 1: CHECK YOUR TDS DETAILS
Start by reconciling the tax you have paid and the TDS details in your Form 26AS.
Before you get down to filing your tax return, you should check whether the tax you paid
during the year has been correctly credited to you. You can do this by checking your tax credit
statement. Also know as the Form 26AS, it has details of the tax paid by an individual. Any TDS
linked to your PAN or self assessment tax paid by you during the year will reflect in this form. If you
are a salaried taxpayer, you need to match the TDS details in the Form 16 from your employer with
the details in the Form 26AS. If your bank or bond issuer has deducted tax on the interest income, it
would be in this statement.
You can access the Form 26AS on the Income Tax department's e-filing portal (https://
incometaxindiaefiling.gov.in/). When you click on "Check tax credit statement" you will be directed to
the relevant page. First time users will have to register before they can log in and access their tax
credit statement. But there is an easier way if you have a netbanking account. Just click on your tax
credit statement and you will be directed to the Traces (TDS Reconciliation Analysis and Correction
Enabling System) webpage without the hassles of registration.

If there is a mismatch in the details, you need

to bring it to the notice of the establishment that
deducted the tax and get the mistake rectified. "Tax
authorities use Form 26AS as the basis for issuing
notices and refunds. Therefore, you must verify the
details in advance," says Vineet Agarwal, director,
KPMG India.
The Form 26AS should serve as a warning for
taxpayers who, deliberately or otherwise, under-report
their income in the tax return. Many taxpayers wrongly
assume that if TDS has been deducted on the interest
earned on fixed deposits and bonds, they don't have
to pay any more tax. But TDS on bank deposits is
10% while the tax may be 30% if the person earns
over Rs 10 lakh. If he ignores the income from
interest, the tax department will immediately find out. The TDS will reflect in the Form 26AS but the
corresponding income will not be reported. "The Form 26AS will help a taxpayer identify and report
the sources of income which he might have missed out," says Vaibhav Sankla, director, H&R Block,
a tax consultancy firm.

STEP 2: CHOOSE THE RIGHT FORM

Most taxpayers falter at this stage because they don't know which form is applicable to
them. The ambiguity in the rules only adds to the confusion.
The form to be used for filing your tax return is crucial. If you choose the wrong option, the
return may get rejected. The frequent changes in rules of tax return filing has not helped matters
much. The simple ITR-1 is the most used tax form, but many assessees may not be using it
correctly. Last year, the Central Board of Direct Taxes had made it mandatory for taxpayers to use
ITR-2 if their exempt income exceeded Rs 5,000 a year.
This rule is open to a lot of interpretations. Going by the definition, exempt income would
include the allowances for house rent, leave travel, medical and transport. So, most salaried
taxpayers would have to use ITR-2 instead of ITR-1.

"This exempt income should mean taxfree maturity proceeds of life insurance policies, PPF,
dividend income and EPF withdrawals and so on. However, if you were to go strictly by the
wordings, you will have to include the basic allowances that form part of most salaried individuals'
packages," says certified financial planner Pankaj Mathpal. Others feel that exempt income in this
context only refers to earnings like dividend and agricultural incomes and not the allowances from
employers.
However, Vaibhav Sankla, director, H&R
Block, maintains that tax department's notification will
have to be followed in letter and spirit. "Last year,
many assessees who should have opted for ITR-2
because they had exempt income of more than Rs
5,000 used ITR-1 for filing their returns. Though their
returns were accepted, the same leeway may not be
extended this year," he says. The tax department has
not issued any formal clarification on this matter.
One of the advantages of choosing a private
portal is that it automatically chooses the correct form
for you. As you enter the details of your income and
the exemptions claimed, the portal processes your
return using the appropriate form. But, as we will
explain later, this convenience comes for a price.

STEP 3: CHOOSE THE RIGHT MODE

If you are cost conscious, you can e-file your tax return for free through the official website.
Go for a private portal if you are seeking convenience.
E-filing is mandatory for taxpayers with an income of over Rs 5 lakh a year. You can do that
for free through the official website of the income tax department, or you can file through a private
portal by paying a small fee.
If you opt for the tax department's portal, you will have to complete the process on your own.
It has become simpler this year, with Java utility being made available, but the filing through a
private portal is far more convenient.
This convenience comes for a cost: you pay anything between Rs 250 and Rs 1,500,
depending on the form you use and the type of income you have. Some portals charge a small fee
for scrutinising your returns for mistakes and ensuring that all deductions have been availed.
Choosing a tax filing portal
Charges are not the only factor. Here are other
things to consider when choosing an e-filing portal.

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Finance/Insurance
Subject
WHAT IS MOTHER DEED IN THE CONTEXT OF PROPERTY INVESTMENT IN INDIA?

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WHAT IS MOTHER DEED IN THE CONTEXT OF PROPERTY

INVESTMENT IN INDIA?
Every transaction in property would go through a history of land ownership, change in
apartment ownership and other detailed records that are recoded in various government agencies.
This detailed record is reflected in the mother deed and is often sought by buyers of property like
land, independent houses and apartments in India. It traces the history from the first to the very last
owner.
Here's an example
Let's say person A bought a piece of land in 1950 and the same was recorded in the local
panchayat records. Now, say A sold it to B and B to C and C to D. By 2014, there would change in
ownership of the records several times. All these transactions
would be recorded in the Mother Deed.
In fact, if a person who had purchased dies, than the
transfer to legal heir, division in the piece of property would
all be recorded in the Mother Deed.
What is the significance of the Mother Deed?
By now it's clear that this along with the present title
deed would be the single most important document for the
purpose of buying and selling a property. The mother deed would consist of a host of information
including the following:
1) Location of the property.
2) Size of the property in sq feet or meters or acres and guntas.
3) The boundaries of the property, covered on the west by ..., covered on the east, south and north
by...
4) Consideration agreed upon at various stages of the property transaction.
5) Details in case there is an indemnity agreement between the parties.
6) Details of the road, ward number, door number etc., of the property.
Significance of the Mother Deed
As mentioned earlier, this is one of the most significant documents that form part of the
documents that one needs to inspect before buying a property. Most of the time a layman would not
be able to understand the details and the legal aspects pertaining to the Mother Deed. It is therefore
advised to seek help, particularly from a lawyer to understand the various transactions that have
taken place in the past.
In case there has been a transaction that has a missing link in the Mother Deed, you need to

quickly initiate an inquiry into the same. The ownership details from the start to the end should be
traced to the present day owner and details compared with the present title deed.
Conclusion
The Mother Deed forms the single most important piece of document in the transaction. You
must examine the same carefully before undertaking any transaction whatsoever. Do not forget to
seek legal advise should you not be able to understand a few things.
-

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BAD LOANS MAY COME DOWN TO 4% BY MARCH 2016: RBI

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BAD LOANS MAY COME DOWN TO 4% BY MARCH 2016: RBI

Gross non-performing assets (GNPAs) of banking system is likely to drop to 4 per cent by
March 2016 with expected improvement in macroeconomic indicators going forward, the Reserve
Bank said today.
"The macro stress tests for credit risk suggest that
under the baseline scenario, which assumes improvement in
the overall macroeconomic scenario during the next financial
year, the GNPA ratio of all SCBs may decline to 4 per cent by
March 2016 from 4.5 per cent as at end September 2014,"
the Reserve Bank said in its Financial Stability Report (FSR)
here.
The report, however, warned that if macroeconomic
conditions deteriorate, the GNPA ratio of scheduled
commercial banks (SCBs) may increase further and under a severe stress scenario it could rise to
around 6.3 per cent by March 2016.
"Under such a severe stress scenario, the system level CRAR (capital to risk weighted asset
ratio) of banks could decline to 9.8 per cent by March 2016 from 12.8 per cent in September 2014."
The net non-performing advances (NNPAs), as a percentage of total net advances,

increased to 2.5 per cent in September 2014 from 2.2 per cent in March 2014.
Stressed advances, including GNPAs and restructured standard advances, increased to
10.7 per cent of the total advances from 10 per cent between March and September 2014.
PSBs ( public sector banks) continued to record the highest level of stressed advances at
12.9 per cent of their total advances in September 2014, followed by their private peers at 4.4 per
cent.
The asset quality of PSBs is expected to improve, but they will continue to carry the highest
GNPA ratio among the bank groups, the report said.
"Under a severe stress scenario, PSBs may record the lowest CRAR of around 9.2 per cent
by March 2016 as against 11.3 per cent in September 2014, close to the minimum regulatory capital
requirement of 9 per cent."
The stress test revealed that among the seven select sectors, engineering is expected to
register the highest GNPA ratio at 12 per cent by March 2016, followed by the cement segment at
10.6 per cent, it added.
- ECONOMIC TIMES
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PNB OPENS 500TH PRAGATI BRANCH

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PNB OPENS 500TH PRAGATI BRANCH

Punjab National Bank has rolled out its 500th Pragati branch as part of its efforts to enhance
customer satisfaction at major centres across the country. Under this Pragati model, a minimum
standard level of service is guaranteed to customers uniformly across all such branches. Its
Executive Director Gauri Shankar inaugurated the 500{+t}{+h} branch under the Pragati model at
Paharganj here.
- BUSINESS LINE

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