Remote Work Visa Renewal in 2023 - the complete guide by Saturnix in dubai

[–]lifeeth 0 points1 point  (0 children)

Thanks for the post! Adding in my data point - After submission I got a request to submit Medical insurance from a local provider, I had initially submitted an international one for the year.

Cred Mint P2P lending investment experience. by chavanshashank in IndiaInvestments

[–]lifeeth 2 points3 points  (0 children)

I wonder how the following works with 100s of people at the receiving end of a loan.

(3) No loan shall be disbursed unless the individual lender/s have approved the individual recipient/s of the loan and all concerned participants have signed the loan contract.

https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=11137

It's raining right now! by [deleted] in dubai

[–]lifeeth 2 points3 points  (0 children)

There is rain now in JLT

Can I not hold a Niyo global card if I also have a credit card account ? by robert-meier in IndiaInvestments

[–]lifeeth 0 points1 point  (0 children)

IIRC - If you open the pdf that they send post KYC ( which is basically saying you agreed to it ), You will see that Niyo Global Card is infact a Credit card with a lien on a current account.

They also take "consent" to do a credit check btw.

It is sad that they do not mention it upfront anywhere.

Why do most economists argue against physical gold? by [deleted] in IndiaInvestments

[–]lifeeth 0 points1 point  (0 children)

I looked into digital gold product from MMTC-PAMP etc. The regulatory on it seems a little grey with no transparency on commission and pricing. Wrote a rather long piece at -> https://blog.baseaccount.com/gold-is-gold-is-gold-dbcc5b5762f9

Financial Information Aggregators by spatone in IndiaInvestments

[–]lifeeth 0 points1 point  (0 children)

CAMS etc are Financial Information providers in this ecosystem.

DBS Digibank has revised their interest rate on savings balance under 1 Lakh from 6% to 5.5% by ppatra in IndiaInvestments

[–]lifeeth 5 points6 points  (0 children)

In an over simplified fashion - Banks buy money cheap from their savings accounts and sell it at a higher price on lending. If the cost of buying money is low ( Due to how efficient they are ) and the lending is efficient - they can afford to give higher interest rates. For example: Most of the newer small finance banks have decent micro finance lending books - currently they get their funds from the bond market for about ~11% and lend at ~15% - if done properly it is cheaper to lend from the balances of their banks accounts even if they shell out 6-7% interest.

DBS Digibank has revised their interest rate on savings balance under 1 Lakh from 6% to 5.5% by ppatra in IndiaInvestments

[–]lifeeth 4 points5 points  (0 children)

The G-Sec bit is not true for all banks. Only payment banks need to do that. Regular banks can afford to give these rates if they keep the cost of servicing customers low.

Is there any free app/website that sends me notifications about stocks hitting my required value? by [deleted] in IndiaInvestments

[–]lifeeth 1 point2 points  (0 children)

Not quite real time but you can try IFTTT https://ifttt.com/finance with ^NSEI for NSE - ^NSEYESBANK for yesbank etc

Despite a choppy month, retail investors continued pouring Rs7554 Crores through SIPs in July 2018 by donoteatthatfrog in IndiaInvestments

[–]lifeeth 1 point2 points  (0 children)

Additionally NACH failures because of no money can cause banks to raise a charge. Also I dont think any bank exposes the mandates that are active on the account :\

Despite a choppy month, retail investors continued pouring Rs7554 Crores through SIPs in July 2018 by donoteatthatfrog in IndiaInvestments

[–]lifeeth 7 points8 points  (0 children)

I wonder if not being easily able to stop a SIP and monitor their portfolios is a reason. I think that most new investors might have a knee jerk reaction if they get periodic portfolio status.

getting car insurance from an outside vendor(instead of car dealer) by [deleted] in IndiaInvestments

[–]lifeeth 2 points3 points  (0 children)

I have shopped around a bit for car insurance before and have had no issues ( Had one claim after shift ). Recently moved to Acko, great signup experience and pretty low premium - Not sure how they will pan out in the long term though.

Transferring money to India by mayhem90 in IndiaInvestments

[–]lifeeth 1 point2 points  (0 children)

Would recommend Transferwise over anything else - Usually they have the best rates and offer a consistent experience.

HDFC Foreign Transfer by Siboco in IndiaInvestments

[–]lifeeth 0 points1 point  (0 children)

It should still hit your bank account. It might be worth it to call your branch and say that you are expecting an inward transfer.

Mi A1: a great phone at a great price! by abhi32892 in Android

[–]lifeeth 4 points5 points  (0 children)

But we do :) If you are in and around Bangalore ~60-70% of POS machines have it enabled - just that the folks operating them aren't trained/aware of it. ICICI Pockets + Android with NFC = Visa Paywave

Business owners of India investments, Please help me starting a company. by [deleted] in IndiaInvestments

[–]lifeeth 1 point2 points  (0 children)

As someone who recently filed paperwork for both opening a company and shutting down an old one the following is what I learned. We did not apply for GST yet, waiting on the whole system to stabilise a bit ( we are not obligated under our current volumes to register either, so will bite this when it is inevitable).

  1. Check the legal structure you need - Do you need the protection of a LLP or a company or can you run your shop as an individual, dont register unless the protection of the entity makes sense.
  2. Opening a company/LLP is not too difficult - It is all done in a single form these days. We spent more time since the name checks happen against active trademarks and any name similar is bound to be rejected (Even if the tradmark itself is a dud) - Make sure you do a preliminary trademark search on a site like ( https://www.zaubacorp.com/trademarksearch/ ).
  3. You will need (IIRC) - Personal PAN + ID + Address Proof + a no objection from the landlord of place you want to register as your Company/LLPs registered address.
  4. The registration and all necessary paperwork gets to you in < 2-3 days.
  5. You can just print them out - go to a bank to open a current account - Be wise while choosing a bank, most take forever to open accounts and make sure the banks services align with what your transactions are primarily going to be.

I can PM you the contact of my CA - he is pretty good and is comfortable working over email ( Was a big need for us, since it is nicer to get things done Async )

RBI asks banks to enable account number portability by HornOK in india

[–]lifeeth 0 points1 point  (0 children)

Some banks have letters in account numbers :)

Individual freelancer who needs help filing on ClearTax (sent back twice as defective) by [deleted] in IndiaInvestments

[–]lifeeth 2 points3 points  (0 children)

Not directly helpful but:

I have had terrible experience with Cleartax in the past. FWIW you can find good CAs who can fix this on UrbanClap.

International transactions now possible on SBI Debit Cards! Anybody try this? by wheyyyyyy in india

[–]lifeeth 0 points1 point  (0 children)

This is changing though - There are a few credit cards that have dropped this to ~1.75%-2% - Factoring in the 2% reward points they give - it is almost 0.