Indian Rupee 150 Rs Coin Launched by RBI

Rs 150 and Rs 5 were recently launched to mark the completion of year long celebrations of 150 years of Income Tax collections.

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How To Know Whether a Credit is Fake?Simple and fun test to find credit card frauds

Step one

Take the credit card number below and double every other digit from the left (marked in raised numbers below). (I got this number off an ad on the internet).

5424 1801 2345 6789

5x2=10; 2x2=4; 1x2=2; 0x2=0; 2x2=4; 4x2=8; 6x2=12; 8x2=16.

(You should come up with the following sequence of numbers: 10, 4, 2, 0, 4, 8, 12, and 16.)

Step two

Add the new numbers (10, 4, 2, 0, 4, 8, 12, and 16) to the numbers you didn't double (4, 4, 8, 1, 3, 5, 7 and 9) in the above card number.

All double digits (like 10, 12 and 16) should be added as a sum of their digits. An example would be: 10 becomes 1+0; 12 becomes 1+2 and 16 becomes 1+6).

1+0+4+4+4 + 1+8+0+1 + 4+3+8+5 + 1+2+7+1+6+9 = 69

Step three

If the final sum is divisible by 10, then the credit card number is valid. If it cannot be divided by 10, the number is invalid or fake.

69 10 = 6.9

As you can see, the number I got off the ad is a fake or invalid number. Grab a credit card out of your wallet and try this simple and fun test.

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NSE stake in MCX up for sale; LSE in talks with MCX's new exchange

NSE is reportedly interested in selling its 1% stake in MCX. Meanwhile London Stock Exchange is in talks with MCX SX.

National Stock Exchange (NSE), one of the major stock exchanges in India, is planning to offload its stake in the Financial Technologies promoted commodity bourse, Multi Stock Exchange (MCX). NSE no longer sees any strategic importance in the investment in MCX, PTI reported, quoting an official as saying. Financial Technologies has agreed to the offer and has said that it will facilitate the transaction at an appropriate time, the report added. NSE holds 1% stake in MCX.

MCX too holds 1% stake in NSE. But the privately owned exchange said it would not sell its stake in NSE. It seems NSE's decision is following MCX's proposed foray into equity trading. MCX has set up MCX SX which currently undertakes currency derivatives trading. It's awaiting SEBI approval for beginning equity trading on the new exchange. This could compete with NSE's business.

Besides, NSE has also become the anchor investor in NCDEX, which is MCX’s rival commodity bourse.

Reports also suggest that MCX is planning an IPO and may soon approach the regulator for the same. MCX had planned an IPO last year as well but had to shelve the plans in the wake of adverse market conditions. MCX could hit the markets in the second half of this year as it generally takes about 3-6 months for the IPO to start from the time of filing a draft prospectus with SEBI. Last year, MCX was looking at raising Rs 500 crore through the IPO. The amount that it would look at raising with this IPO is not yet known.

It also believed that MCX’s plans to revive the IPO may have resulted from the increasing pressure from its shareholders such as Fidelity and Citigroup, who wanted to exit after MCX’s listing. Last week, reports of Fidelity and Citi planning to sell their stakes in MCX had also surfaced, to which Financial Technologies had clarified saying that Fidelity and Citi continue to be stakeholders in the commodity exchange. Last Friday, Fidelity-affiliated mutual funds sold 8.20% of its 10.65% stake in Financial Technologies in a block deal to Reliance Capital.

In another development, the London Stock Exchange (LSE), has initiated talks with Financial Technologies to buy a stake in its stock exchange, MCX-SX, reports Business Standard. The information has not been independently verified. The new exchange has to start divesting its stake by the end of the first year of operations to comply with the licensing conditions. MCX is already in discussions with various global investors for the same, and LSE happens to be one of them.

According to the SEBI regulations, overseas investors can only hold up to 5% stake in Indian exchanges. LSE is too understood to have asked for a 5% stake in MCX-SX. LSE is world’s third largest Stock exchange in terms of market cap.

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12 Mutual Fund terms one must know

As we probably know, a mutual fund is an investment that pools together money from a number of investors. It then uses professionals to manage and invest this money with the aim of achieving a return.


The mutual funds industry is regulated by the Securities and Exchange Board of India. Here are some terms that one needs to understand-



1. AMC
An Asset Management Company is the fund house or company that manages money.

The mutual fund is a trust registered under the Indian Trust Act. It is initiated by a sponsor. A sponsor is a person who acts alone or with a corporate to establish a mutual fund. The sponsor then appoints an AMC to manage the investment, marketing, accounting and other functions pertaining to the fund.

For instance, ABN AMRO Trustee (India) Private Limited is appointed as the trustee to the ABN AMRO Mutual Fund. ABN AMRO Asset Management (India) Limited is appointed as its investment manager. Various funds with different objectives can be floated under the umbrella of one parent. So ABN AMRO Equity Fund, ABN AMRO Opportunities Fund and ABN AMRO Flexi Debt Fund are all independent schemes of ABN AMRO Mutual Fund. They are managed by the ABN AMRO AMC.


2. NAV

The Net Asset Value is the price of a unit of a fund. When a fund comes out with an NFO, it is priced Rs. 10. Later, depending on the value, of the investments, this price could rise or fall.

3. Load

This is a fee that is charged when you buy or sell the units of a fund. When you buy the units of a fund, you pay a percentage of it as a fee. This is known as the entry load.

For example, one is investing Rs. 10000 and the entry load is 2%. That means he pays Rs. 200 as the entry load and Rs. 9800 is invested in the fund. Now assume, he is selling the units of his fund. And the Rs. 10000 he invested initially is now Rs. 15000. Let’s further assume the exit load is 2%. So he pays Rs 300 and gets back Rs. 14700. Generally, if funds charge an entry load, they will not charge an exit load. Or vice versa. Only one of the loads is charged. The load is a percentage of the NAV.

4. Portfolio

This is a term given to all the investments made by the fund as well as the amount held in cash.

5.Corpus

Let’s assume a very small mutual fund has an initial investment of 1000 units and each unit is worth Rs. 10. Hence, the total amount with the fund is Rs. 10000. This is referred to as the corpus. Later, some other investors invest Rs. 2000. Now the corpus will be Rs. (12000 (Rs. 10000+ Rs. 2000). The total amount invested is called the corpus or the total amount of money invested in the fund.

6. AUM

Assets Under Management is the total value of all the investments currently being managed by the fund. Let’s say the corpus is Rs. 12000 but, due to a rise in the price of the shares it has invested in, the value of the units has increased. So the Rs. 12000 invested is now worth Rs. 15000. This figure is referred to as AUM.


7. Diversified Equity Mutual Fund

This is a mutual fund that invests in stocks of various companies in various sectors.


8. ELSS

Equity Linked Saving Schemes are diversified equity mutual funds with a tax benefit under Section 80C of the Income Tax Act. To avail of the tax benefit, your money must be locked up for at least three years.


9. Balance Fund

A fund that invests in both equity (shares) and debt (fixed return investment) is known as balance fund.


10. Debt Fund

These are funds that invest in fixed return investments like bonds. A liquid fund is one that invests money in market instruments; these are fixed return investments of a very short tenure.


11.NFO

A New Fund Offering is the term given to a new mutual scheme.

12. SIP

A Systematic Investment Plan refers to periodic investing in a mutual fund. Every month or every three months, the investor will have to commit to putting in a fixed amount. This will go towards the purchase of units. Let’s say every month you commit to investing, say Rs. 1000 in your fund. At the end of a year, you would have invested Rs. 12000. If the NAV on the

Source:-Rediiff.com