Most of us would be investing our money in Fixed Deposits, Real Estate, Mutual Funds etc.
But have you ever wondered where do Indians cumulatively invest their money and in what proportions? Do you know how much worth of Gold we Indians own?
Read on to know the answer to aforementioned questions and some other interesting facts.
Total individual wealth in India or the money owned by all individuals in India (i.e. not considering the government and institutional money) is divided primarily into 2 segments – Continue reading “How Indians invest their money?”
PAN stands for Permanent account number and is 10 digit alphanumeric number which is allotted by the Income Tax department. Historically, PAN was mandatory only for people who were filing income tax returns but after demonetisation PAN has been made mandatory for most financial activities for ex: opening a bank account. Infact, it is mandatory now to link your Bank Account to your PAN otherwise Government will have full authority to close down your Bank Account.
Like Aadhar, it is important for everyone to also have PAN Card as it has multiple usage Continue reading “How to apply for PAN in India?”
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The investment patterns in India have always been inclined towards risk-free zones. People preferred fixed deposits, gold, land, and government bonds. As surety of return has always been a critical factor, people tend to avoid high-risk investments. Mutual Funds solve these problems. If invested wisely, these are the most flexible, comprehensive, and hassle-free medium to invest.
While these are the traditional methods of safe investment, there are certain trends which are on the raise.
Continue reading “What are the different kinds of mutual funds and where do they invest?”