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 :

Always being under the gaze of the camera makes celeb mishaps all the more visible. Here i

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

In an age of smartphones, wi-fi and Insta-fame,many MMS scandals of famous Bollywood act

With the World Cup just weeks away, the lingerie version with scantily clad beauties took

Sexy Samantha Ruth Prabhu is a famous Tollywood actress, who mainly works in the Telugu an

Honda will most probably launch the CBR 300R in the month of December after Kawasaki offer

It's not the tall, dark and handsome who rule the Bollywood but some of the shortest actor

In an illuminating article, Esquire writer Tom Junod has declared 42 to be the most alluri

Its homecoming of sorts for gorgeous former Miss Universe Sushmita Sen as she is set to s

Bollywood actress Sunny Leone was looking stunningly beautiful as she walk the ramp as t

Salman Khan a "national boyfriend" this name has been given to him by Karan Johar, Karan

Aamir Khan is fiercely protective about his movies, but the story of Peekay has been leake

Pakistani actress Saba Qamar's “Kambakht” is set to clash with Salman khan’s upcomin

People still think that Manju from Comedy Nights With Kapil is actually Kapil Sharma's rea

Recently, two Pakistani actresses have made inroads into Bollywood. Humaima Malick will be

These women can put to shame celebrities who boast of having a size zero figure. These wom

Rabiya Khan, the mother of deceased Bollywood actor Jiah Khan, assured the Bombay High Co

Another love lady of Akshay Kumar. Bollywood Khiladi has a long list of love affairs Sta

Turns out Justin Bieber was not once, but punched on two different occasions by Orlando Bl

A naked man was walked on leash with something stuffed inside his anus

Tech giant Apple has reduced the price of its 13-inch non-Retina MacBook Pro by Rs 11,000.


Samay Live

Samay Live

 

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

10.10.70.52