Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT RATES :: list of goods taxed at 4% :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: empanelment :: cpt :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: TDS :: due date for vat payment :: Central Excise rule to resale the machines to a new company
 
 
« News Headlines »
 New board for indirect taxes to become operational from June 1
  9 changes that came into effect from April 1
 First time filing income tax? Here's all you need to know about Form 16 and Form 26AS
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
 How to benefit from investments in tax saving mutual funds
 60 per cent of income tax notices on fishy cash deposits returned
 All about income tax return form Sahaj
 Why seeing Form 26AS is a must before filing tax return and how to access it
 No tax on notice period pay cut
 Interpretation Of Central Goods And Services Tax (Cgst) Act (Part-1)

Double your money offers return
July, 31st 2006
ouble your money the catch phrase which caught the nation's imagination in the nineties is making a comeback. 
 
Union Bank of India has already mobilised Rs 1,100 crore under its latest scheme for depositors Jama Karo: Dugna Pao. The Dugna Pao offer promises to pay twice the amount after eight years and nine months, at an interest rate of 8 per cent per annum. 
 
Semi-urban and rural people in Gujarat, Bihar, Uttar Pradesh, and Madhya Pradesh have been chasing the Union Bank offer. These states account for over 60 per cent of the total amount mobilised under the scheme by July 1. 
 
This trend was last seen in the 1990s when the omnipresent National Savings Certificate (NSC) was ruling the savings universe in India. The department of posts had then offered to pay twice the money invested in NSCs in five years and a few months. 
 
The people in the hinterland are not concerned about the rate of interest. They were drawn towards the offer just because of the overwhelming craving to double one's money, says a senior banker. 
 
The Dugna Pao offer is an offshoot of the fight among banks for resources to meet the blazing credit growth. The race for garnering maximum retail resources in a rising interest rate scenario has seen banks offering rates which even a year back could not have been imagined by the savings community. 
 
Other banks are offering an 8 per cent interest rate for shorter terms of deposits varying between nine and 13 months. Kotak Bank is offering 8 per cent on 290 days deposits, while IndusInd Bank is giving the same rate to its depositors for 270 days. 
 
Among others, Yes Bank is offering 8 per cent interest for deposits of over 10 months, and ICICI Bank, India's second largest bank, is offering 8 per cent interest for deposits of about 13 months.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Vision

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions