Twitter

Facebook

Youtube

Pintrest

RSS

Hindi News | Samay | UP/Uttarakhand | MP/Chhattisgarh | Bihar/Jharkhand | Rajasthan | Aalami Samay
Chidambaram to launch Rajiv Gandhi Equity Scheme
Last Updated : 27 Jan 2013 12:08:15 PM IST
P Chidambaram
File photo: Finance Minister P Chidambaram

 

Aiming to attract first-time stock market investors, Finance Minister P Chidambaram will launch the much-awaited Equity Savings Scheme ' title=' Rajiv Gandhi Equity Savings Scheme '>Rajiv Gandhi Equity Savings Scheme (RGESS) in Mumbai on February 9.


"He (Chidambaram) is going to Mumbai next month and will formally launch the Rajiv Gandhi Equity Scheme there," sources told media.
    

The RGESS, which was announced in the Budget for 2012-13, seeks to provide tax benefits to first-time investors in stock markets.
   

Under the scheme, an individual with an income of less than Rs 10 lakh would get tax incentives for investing up to Rs 50,000 in the stock market.
   

As per the notification issued by the Securities and Exchange Board of India (Sebi) on the RGESS, there would be a lock-in period of one year on investments made under the scheme.
    

For transactions undertaken by investors through their RGESS designated demat account, depositories would be required to seek necessary transactional details from stock exchanges for enforcing lock-in.
    

The mutual fund houses have already started lining up mutual fund schemes focused on the RGESS. Two state-owned fund houses SBI and IDBI and one private fund house DSP Blackrock have filed draft offer documents for such schemes with the market regulator Sebi, while others may soon follow suit.
       

The scheme was notified by the Department of Revenue, Finance Ministry on November 23 last year.


Post Your Comment (0 posted):
Post your comment Post Your Comments
Your name :
Your e-mail address :
Your website :
Add your comments :
Please enter the code you see in the image:
Security Code :

Unexplained phenomena such as animals giving birth to creatures slightly resembling humans

Murder during sex-- its just unbelievable. But this is what happened in America when a tee

Is Bollywood encashing Sunny Leone’s porn image in the movies?

This teenaged girl can't have sex or babies due to rare condition that left her without re

There has been speculation in the past over a cold war between Shahrukh and Amitabh but th

We bring you some rare pix of Bollywood which, for sure, you must not have seen. Click and

It was a battle of survival when two reptiles locked in a deadliest clash. A python fought

Bollywood celebrities are prone to controversies but it becomes more embarrassing when the

Here is a list of the Fastest cars in the world also showing what you have to shell out to

Ever wondered what is the story behind Salman's beloved sister Arpita and how she became a

Bollywood’s boldest actor Ranveer Singh is busy these days promoting safe sex among in y

Monkeys doing simple mathematics, that's quite funny.

Homegrown handset maker Micromax on Tuesday launched its new six-inch phablet 'Canvas Dood


Samay Live

Samay Live

 

Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live

10.10.70.24