Sharekhan Demat and Trading Account closure

I had both the eTrading and demat account with Sharekhan and had closed both of them recently, so sharing the process here.

  1. Make sure that you have paid the annual maintenance charges / Demat account charges for the current year. Whether you have done any transactions or not, you have to pay the demat account charges.
    After ensuring the above, make your Sharekhan account balance zero.

  2. Go ... more


While withdrawing from other bank ATM, if you try to withdraw more money than available in your account, you will get a 'Insufficient balance: transaction declined' message on ATM. In such case, you will see a deduction in your bank account titled 'INSUF BAL ATM DECLINE CHARGE'. That is, they will charge you a fee ranging from Rs 10 to Rs 30 for this.

The exact charge is different depending on ... more

(CVL KRA) Update & Verify KYC Online for Mutual Funds

KYC (Know Your customer) is a mandatory process for investing in mutual funds or stocks in India. It entails two things:

  1. Proof of Identity: only PAN card copy accepted
  2. Proof of Address: any govt approved proof of address - e.g., aadhar card copy, driving license copy, voter id copy etc.

To make life easier for investors, now we can get KYC done only once through any broker, bank, mutual ... more

CAMS KRA - KYC Registration and Verification for Mutual funds and stocks

KYC (Know Your customer) is a mandatory process for investing in mutual funds or stocks in India.

CAMS KRA is a govt provided registry to keep track of this KYC registration status. CAMS KRA full form is "Computer Age Management Services (CAMS) KYC Registration Agency (KRA)". (Govt has allowed a handful of companies to maintain KYC registration status and CAMS KRA is one of them).

Check ... more

Inoperative EPF accounts will now earn interest - Notification issued on Nov. 11, 2016

Here is a good news! Now inoperative/inactive EPF accounts will also get interest. That means now you can keep your money parked in EPF and keep earning the interest even when you are no more working (as a salaried employee). In a notification issued on November 11, govt. has declared that interest (which currently is 8.8%) will be computed and paid from 1 April, 2016.

Inoperative PF accounts are... more

What is Benami Property?

Recently due to demonitisation of Rs 500 and Rs 1000 notes, other modes of black money circulation are also in news. Real estate (e.g., benami properties) along with gold & jewelery remains one of the most prominent investments through black money. So along with notes demonitisation, we should expect other rulings to track and control their spread.

In the context of real estate, most people are ... more

KYC full form and meaning in context of bank account opening

Any time you want to open a bank account in India, the first word you hear from bank is to submit KYC documents. What is KYC? what is its full form and meaning? and why it is required to open a bank account in India.

KYC full form is Know Your Customer. As per RBI (Reserve Bank of India) guidelines, KYC verification is a necessity for opening a bank account in India.

KYC (Know your customer) ... more

What is Region Code, Office Code and Est Code in PF number

Every PF Account number consist of 5 parts namely - Region code , Office Code, Establishment Code, Extension Number and the account number. Many times we get confused on which code to fill in which block. The fact that EPFO has changed the region codes and introduced new office codes makes things more complicated.

Here are some details to understand your PF number format better- more

Common Man Experiences - Discontinuation of Rs 500 and Rs 1000 notes

Prime Minister Modi has struck a real blow to black money by declaring the discontinuation of Rs 500 and Rs 1000 notes. The real challenge now lies in smooth turn over to new notes without impacting the day-to-day life and livelihood of crores of indian citizens.

Here are some experiences of common men/women in india:

  • General Mood - general mood is very positive and everybody is ... more

Details on How to Exchange or Deposit old Rs 500 and Rs 1000 notes

On Nov 8, 2016 night, prime minister Modi sprung a surprise by discontinuing all existing Rs 500 and Rs 1000 notes effective Nov 8 night. It is a great move against black money by the govt. But for general public point of view, it will create lot of difficulties in doing day-to-day transactions.

Here is a guide on how to exchange or deposit old Rs 500 and Rs 1000 notes:

(Please note that banks ... more