And for a Friday…. In Mumbai with the launch of the Fifth Tranche of Gold Bonds by GOI.
For all those who buy Gold as an investment, the Gold Bonds are great with no Capital Gains Tax, 2.75{aff5a224634bf574f692c8c7d068a0713fecca4ea38a30d3005107227dbb12e7} interest paid half yearly and of course, no fear of theft.
It’s time we persuade all of us to move away from conventional finance instruments to the Digital age.
Banking moves into a new era with the launch this week of the Unified Payment Interface (UPI). The Free App can be downloaded and the Mobile becomes your direct transfer medium.
There is total safety as the confirmation and reconciliation of the transaction is done by National Payments Corporation of India (NPCI) – an organisation set up by the Reserve Bank of India.
All 50 plus Seniors must reconcile to a paperless Banking operations, cheque and passbooks are passé, risk free, well, of course not, but it’s the TINA factor (There is No Alternative).
With all the Hacking and the “Black Holes” and the constant layoffs and restructuring in the banks and financial companies and their technology partners, senior citizens must be alert and develop a healthy sense of honest Suspicion!!!!!
Some of the Relationship Managers who sell you schemes have really no customer interest, no relations. It’s their personal Bonus tied to various schemes.
We should be grateful that we are in India, where still there are a number of Institutions, Agencies and Constitutional Authorities which are headed by men and women of high integrity and intellect, providing enough checks and balances.
Each one of us …. particularly the senior citizens, must resolve to not only live with Dignity; but promote Ethics and Governance and fight Corruption … the SEEGOS way.