Post Office Monthly Income Scheme (POMIS)
The Post Office Monthly Income Scheme (PO MIS) is a small investment and savings scheme. Main Features/ Rules - This scheme provides a regular monthly income to the depositors and has a term of 6 years. Minimum amount of investment is , and maximum amount in case of single account is ,50,000/-, and in case of joint account is ,00,000/-. Interest rate is 8% payable monthly with a bonus of 5% payable on maturity. Nomination facility is available. Rebate under…
Analysis of RBI Policy
The highlights of the Reserve Bank of India's Monetary Policy Statement for 2011-12 (Apr-Mar): MEASURES * RBI Policy shifts to single rate regime * Operating target of policy to be weighted average call money rate * Hikes Repo Rate 50 bps to with immediate effect * Ups Reverse Repo Rate 50 bps to with immediate effect * Keeps Bank Rate unchanged at * Keeps Cash Reserve Ratio unchanged at * Ups savings bank rate to from with immediate effect…