Wednesday, 21 September 2011

Not Google + the first Antisocial parody video

Do you think there’s too many social networks you have to manage? You aren’t alone, theirs lot more people think the same way. The below video was created by the college humor guys saying how to join their new Social network Not Google +. To join simply don't join Google +. Watch yourself the video below.

Tuesday, 20 September 2011

Why Rupee crashing against Dollar now?

Now every day am seeing India Rupee weakens against US Dollar. Today it's RS 47. 8 .Why is this happening now, provided the dollar demand should be low due to the economic situation right now.

Who is buying all these Dollar now? Is RBI doing some thing to trigger this? I cant find any solid reason for this behavior. Media is not saying anything about the possible reasons...they just say it might be due to the high demand of Dollar from the oil company's. What you think about the possible reasons for this?

Thursday, 15 September 2011

How to Redeem your Mutual Fund?

Many people who invest in mutual funds often do not know what the procedure to redeem these mutual funds. I redeemed some of my mutual funds recently which I had bought some years back from an agent, so I thought why not let everyone know what is the simple procedure for redeeming the mutual funds.

If you have bought the mutual funds from an agent or from the AMC directly, then you will have to fill up the redemption form. This form is available from the mutual funds AMC office (you can get its office address from internet). You will have to go to their office in person. You can also go to the nearest CAMS office and fill up the redemption form directly from there.  It’s much convenient to visit CAMS office and directly redeem more than one mutual funds in one go (I did this, this way).

The redemption form is very easy to fill and all you need to put is your name, folio number (make sure you put correct folio number, else it will create issue later) and the number of units (exact number or ALL) you want to redeem. Just give this form to the CAMS processing assistant and they will put up your request. The real advantage is that there is no FEES for his service from CAMS

Points to remember...

1. NAV Applicable: If you give your redemption request before 3:00 pm, the same day closing NAV will be applicable, else you will get next day NAV. So make sure you do the redemption well before 3:00 pm if you want same day NAV.

2. Bank accounts: Where will you get the money when you redeem the mutual funds? You will get the proceeds in your same account which is registered with your AMC (which you used to pay at the time of buying). If that account is not active, then there are few run around like you will have to attach the cancelled cheque of your new bank account or copy of pass-book etc and if you don’t have that, then a declaration from the bank and sign of some bank manager etc. So this can be a little frustrating if you are in urgent need of money. In my case my old account was active so it was pretty easy for me.

3. CAMS do not handle all the AMC’s redemption: CAMS do not handle each and every Mutual funds transaction. It can happen that you will have to go to the AMC office itself for redemption. So check with CAMS which all mutual funds they handle, you can shoot an email to your city CAMS (their emails and addresses are there on CAMS website

4. How much time it takes to get money? : It generally takes 3-4 working days to get the money credited in your account. So if you redeem the funds on Monday or Tuesday, you can safely assume that you will get the money by the weekend. But if you have weekend falling in between, then it can take some time.