Understanding the Stock Market for Beginners!

Why is the stock market important for you? The simplest answer to that is that you can invest your money. Yes there are other routes to go when it comes to investing your money. But often times those routes do not pay adequate returns. That’s where investing in the stock market comes in. you can many a times get more than a good payout by dabbling in shares. But of course there’s always the possibility of losing all your money too. This is known as a risk return payoff. The higher the risk the higher the payout but also more the chances of losing all your investment. There are two types of investing- day trading (steer well away from this for now) and long term investing.

Understanding the Stock Market for Beginners:

In this post we’ll be taking you through an understanding the stock market for beginners.

Decide on the Type of Investor you are: 

Before we delve further into an understanding the stock market for beginners you need to know the type of investor you are. Whenever you open a brokerage account, which you have to by the way, they often ask you what your goals are and how much risk are you willing to bear.

Some investors are the put – my – money – in – and – forget - it kind of type while others want to take a more active participation in their investing. Most brokers allow you to invest in stocks, bonds, mutual funds, ETFs or exchange traded funds and index funds.

Knowing which Broker to Take: 

This will depend on your preferences and what each has to offer. But basically there are two types of brokers:

• Full Service brokers- they give you all things related to money management. These include retirement advice, healthcare, also where to invest your money in order to get adequate returns to meet your financial goals. Since they give you a big bang for your buck, they also charge a lot. These service providers are therefore mostly used by higher net worth clients. These costs include a percentage of your transactions, a percentage of your assets managed and even a yearly membership fee. The minimum ranges from account sizes of $25,000 and above.

• Discount brokers- this type of brokerage has become the most common nowadays. They have features where you can place the transaction you want and even a place where you can invest it and forget it feature too. Since they have become so popular they even have apps, graphs and many more features on their websites. As for cost, yes they do take a percentage of your transactions but the costs are relatively low as compared to the brokers up above.

There’s always the option of investing through your employer: 

If you don’t happen to have much laying about to invest then there’s always your employer’s retirement plan. These plans don’t require a lot of investment. In some cases it is as low as 1% of your salary. What’s even more great with this route of investing is that it is tax deductible. This means that before you calculate your tax payable from your income you can deduct this investment. Thus lowering your tax payable. Also with annual increases you can even add to your contributions later on too.

Minimum Deposit requirements when it comes to understanding the stock market for beginners: 

Many brokers or financial institutions have a requirement of a minimum deposit. This means they won’t accept your investment if you don’t invest a certain amount. This amount varies from firm to firm. The best advice we can give in this regard is to look around. Check your brokers available for the amount of commissions they charge, what their reviews are and so forth.

In some cases a deposit is not even charged while in others if you commit a higher amount to investing then they waive off a portion of their management fees and trade costs. Some also offer commission free- trades for initial trades when you open an account.

Now Coming to Commissions and fees: 

When it comes to understanding the stock market for beginners, you need to first understand that nothing comes free. This goes for brokers too. Although you don’t need to pay much when it comes to investing with brokers, the fact is that something is still chargeable.

In many cases your broker will charge you an amount for every trade you make. This can range anywhere from $2 to $10 per trade. Still other brokers may not charge you for trades, believe me they make up for it in other ways. That’s where the fine print comes in handy.

Whenever and however you trade you need to keep this in mind. Ultimately it will have a bearing on your profit margins. In more practical terms if you’re an active investor and like to frequently buy and sell stocks, with every transaction there are trade fees to pay. This eats into your profits margins leaving you with little or in some cases nothing. A trade is considered to be buying or selling stocks in a company. Note the “a company” here. If you happen to buy stocks of three different companies at the same time, it is considered as three different trades.

Mutual Fund Fees: 

If you happen to like mutual funds you also need to know that there are additional costs when it comes to this form of investing too. Besides the normal trade fees you even have management expense ratio or MER for short. But more on this later.

First of all what are mutual funds. Mutual funds are basically a pool of stocks from various companies. As they say never put all you money into one basket of eggs. The same is applicable here as well. In the stock market you never want to put all your money into one company. Mutual funds help in diversifying the risks. Now to MER, these are fees where the management charges a percentage normally ranging from 0.05% to 0.7% of the assets in the fund.

There is much more to understanding the stock market for beginners. A lot of reading and learning is required before you put you hard earned money anywhere.

Personal Finance Tips to Get Your Money Grow

When it comes to managing money things don’t have to be complicated. Nor do you require to be an accounting genius to know how to manage your finances. All you do need is money to manage and a strict approach to managing, that you stick to no matter what. In this post we’ll be looking at some personal finance tips to know to better managing your money. With these tips in mind you’ll well be on your road to recovering from any money related problems. Yes it won’t be easy nor is it going to be fast. But it’s going to be the first step in getting out of your money problems. So without wasting anymore time let’s look at these personal finance tips shall we?

Personal Finance Tips-Spending less than you earn: 

This may sound as an easy one but you can’t overemphasize the importance of this personal finance tip. If you keep spending more than you earn you’ll always be in debt. It’s as simple as that. The point is easy on paper than actual practice. However if you want to avoid living hand to mouth then you have to put this tip into practice.

To spend less than you earn its’ a simple case of knowing how much you spend. You can do this by starting to trace where you spend your money. Take the trouble of checking your expenditures and start avoid paying for anything unnecessary. You should be able to justify any cost you incur. I mean really justify.

Another easy yet important one- Budgeting: 

This is another no brainier. When it comes to managing finance, budgeting isn’t far behind. Any blog, any personal finance tips will all deal with budgeting. This does not mean that you have to shy away from it thinking it’s well out of your league. It’s actually quite simple to do.

Budgeting is a simple matter of knowing what you earn less what you spend. What you spend is what is necessary. By doing this you know just what to spend your money on and you stick to it. In the end you may be leftover with something to actually pay off some debts or maybe even save.

When it comes to budgeting a rule of thumb is the 50/20/30 rule. This rule states that you get to spend 50% on your necessities, 20% goes into savings and the rest 30% is yours for the pickings. But of course this depends person to person and paycheck to paycheck. But it is still a rule to strive for achieving.

Personal Finance Tips- Know your Incomes and Expenses: 

This personal finance tip is part and parcel of budgeting. To budget you need to know your incomes and expenses. Many of us already know our incomes but expenses is another matter altogether. To know your expenses you can always check what you spent in the last month. Take out all your bills including the ones you paid by card and ask yourself whether all those expenses were really necessary.

At the end of this draw out a plan and follow it.

Personal Money Management: Key to Successful Planning

Money: It’s what makes the world go around. When there’s less of it it is a problem when there’s more of it too we have problems of how to manage it. The word money and problems are two sides of the same coin. It would be nice if we never had to worry about money but that isn’t realistic now, is it? You cannot altogether do away with money problems but a few simple tips can help you in your personal money management journey. With these tips on mind you can reduce your debt and maybe even start saving something for the future. So without wasting anymore time let’s take a look at what we can do in our personal money management journey.

Personal Money Management-Set Your Financial Goals: 

Without any goals we are directionless. Without knowing where you’re going how do you begin your journey. You can set any goals, say for example going on a world tour, or sending your kid to college or maybe even the possibility of retiring early. Setting these goals will decide the course of your personal money management journey. Let’s say you want to own your own home, you have to start moving in that direction with your finances. This means saving what you have left over after essentials. There will also be less money then, for frivolous stuff like that new phone that you don’t really need.

The other side of not having any goals means that you’re basically rudderless. In more practical terms you may buy things you don’t really need ending up in debts and not really saving anything. While this may not harm you at present it will bite you… (You know where) later on in life.

How to set goals in Personal Money Management: 

• Separate your long term goals form your short term goals

• Keep both separate

• Long term goals such as buying your own home, retiring early or taking a world tour

• Short term goals such as paying off your debts, buying only things that are required

• Decide which is the most important, in other words prioritize

Now you got your goals set out a plan of action: 

After you’ve set your goals the next step in your personal money management journey is to set a course of action. This entails setting out a monthly budget where you match your receipts with your essential payments. Note the word essential payments here. This will help you in not only meeting your monthly expenditures but in also paying off your debts. Once your debts are paid off you may actually have something to save. Thus begins the road to attaining your goals.

Of course with this step, you need to prioritize too. Start paying off things that are absolutely urgent or thing that takes up a huge chunk of your salary. Say for example you have a loan that needs paying off. Keep that as your priority. By doing so you can reduce your interest payments as well as installments.

Knowing your goal will also help you in saving. If you want to buy a house you need to know which investment route will get you to that goal the fastest.

The most important of all – Stick To Your Plan of personal money management!

No transaction charge on NEFT payments from Jan 2020

NEFT Payment – Not chargeable

Banks will no longer be charging saving bank account holders for any NEFT online transactions from January 2020. The Reserve Bank of India (RBI) has directed banks with this instruction through a press release on 8th November. RBI has stated in the press release that this has been initiated to promote digital payment.

In its July statement it had mentioned, ‘In order to provide an impetus to digital funds movement, it has been decided to do away with the charges levied by the Reserve Bank for transactions processed in the RTGS and NEFT systems.

Banks in turn will be required, to pass the benefits to their customers’. NEFT is a disbursement system expediting funds transfer from one bank account to another. An individual can avail this service through the option of utilising Internet banking or visit the branch in his area, though not all the branches provide this service.

Customers will not have to pay any charges for the transaction they undertake through the standard NEFT system.

Smooth Settlement of Transactions

To enable customer with easy banking transaction comprising of NEFT payment transfer, RBI has made banking transaction all through the day against only working hours on weekdays.

RBI Governor Shaktikanta Das, in its monetary policy mentioned that the revised timings would be effective from December this year. Earlier NEFT was made available till 7.45 pm on working days.

Besides this, NEFT was not operational on the 2nd and the 4th Saturday of the week. The central Indian bank had commented, “in order to facilitate smooth settlement of these transactions in the accounts of the banks maintained with RBI, it has been decided that the Reserve Bank will extend the collateralised liquidity support, which is currently available till 7.45 pm on NEFT working days, round the clock.

Motivate Digital Transaction

When an individual initiates the transfer of funds, the same is reflected in the recipient’s account within hours. No restrictions are there on the minimum or maximum amount on the funds to be transferred.

However, they could be some amount of restrictions, on individual banks on the per transaction sum. In this regard to motivate digital transactions, RBI had presented a proposal on the anniversary of demonetisation. FASTags has been proposed by the central which would permit customers to pay for parking fee as well as at the fuel station.

 Due to digital payments, a high of 96% of overall non-cash retail payment had been established during October 2018 to September 2019. The National Electronic Funds Transfer – NEFT together with Unified Payments Interface UPI system, at the same time had managed 252 crores and 874 crores transactions with a yearly growth of around 20% and 263% respectively.

Acceptance Development Fund

The central bank had mentioned in a statement that `this rapid growth in the payment system, inter-alia had been facilitated by a series of measures taken by the Reserve Bank of India. To empower it further every citizen with an “Exceptional (e) Payment experience” and provide her access to a bouquet of options, the RBI said it proposes to “mandate banks not to charge savings bank account customers for online transactions in the NEFT system with effect from January 2020”.

Its intentions are to make operational the Acceptance Development Fund in order to enhance the acceptance infrastructure from January 1, 2020. In order to assess the requirements for group of QR codes together with merits of their co-existence or merging from the systemic and consumer point of view, a committee would be formed.

Moreover the central bank intends to enable all authorised payment systems and instruments (non-bank PPIs, UPI and cards, to connect with National Electronic Toll Collection NETC FASTags. As per the statement, it is mentioned that `going forward, this will facilitate the use of FASTags for parking, fuel etc., payments in an interoperable environment.’

Development of Synergies

This announcement from RBI had come up on the third anniversary of the significant resolution of the government for demonetising Rs 500/1,000. It was on November 8, 2016, that Rs 500 & 1,000 which were in circulation had been banned with RBI coming up with new currency notes of 2,000 and 500 respectively.

Moreover Reserve Bank of India mentioned that the benchmarking application taken portrays great position appreciated by the country in numerous factors with regards to payment systems. The banking regulator mentioned that it simplified RuPay card acceptance in Bhutan.

This would enable the activity with the payment system regulators in the other jurisdictions. Moreover it would also share its knowledge in the development of synergies thereby reducing the time and the cost in inward remittances, particularly in maintransmittal corridors.

Increase Digital Payment

According to the Founder and VP of Sarvatra Technologies, Mandar Agashe, the abandonment of charges on the online transaction namely RTGS and NEFT, makes it obvious that RBI is pushing the bank on increasing digital payment. This initiative would particularly benefit small traders marketing in small value transaction and functioning on small margins.

For these traders, the transaction would be of great importance to them. Besides this, RTGS and NEFTtend to be economical in comparison to the other modes of payment. For instance cheques involve end to end management for transaction till its ultimate settlement.

Financial Service: Things You Need to Know About the Future of Money

Digital Bank – Monzo & Revolut

In recent times several changes have taken place in the financial service segment. Individuals seem to depend more and more on technology which has been progressing by leaps and bound with the passage of time. Technology is being utilized in making decisions with regard to financial services. The method of spending and earning funds has taken a drastic change in the present scenario. With the entry of digital technology, every bank seems to consist of an app to support the payment and handling of the accounts.

The latest digital banks like Monzo and Revolut are said to be quite effective in getting an overview of one’s finance details without the need of waiting in queue for the same. According to Hugo Cornejo, head of design for Monzo commented that there are one million customers in the UK with current accounts. One spends money in a store and the customer receives a notification- it’s not rocket science’. Presently several traditional banks tend to depend on legacy technology infrastructure in order to assist the prevailing bank accounts. However the same is undergoing a change at a slow pace.

Digital Companies – Financial Services 

Though the individual may be well acquainted with monetary issues, financial documents and terminology can seem to get quite complicating. All the hard work for the customers is automatically taken care of by startups such as Revolut by rounding up purchased to the nearest pound and saving through its built-in feature. Chad West, CMO of Revolut, commented that `it gives convenience to the customer which is something you don’t really see from traditional banks.

 Digital companies also tend to move financial services into a convenient space. Revolut provides travel together with phone insurance and commission-free trading. Monzo, on the other hand, classifies in assisting the individual by helping them to maintain a budget and also give an insight into the quick review of the major spending details.

Challenger Banks 

People’s trust in financial service had been shaken during the financial crisis years back. This has been one of the motives why challenger banks had to step in and take over several of the customers. Imran Gulamhuseinwala, head of Open Banking LTD, which is a government, backed non-profit entity, facilitates data sharing between the incumbent banks for the sake of the customers. He further added that they were building trust and security for any consumer and open banking is opting in and not opt-out. For the financial services, these are of more significance and challenger banks have been catering in providing their customers with total control together with more independence than incumbents.

Cryptocurrencies

It would be very negligent in estimating the future of finance without mentioning cryptocurrencies. Earlier this year, being an unconventional topic a few years ago, they had come into mainstream financial services.

Though the publicity had died down and its valuation had dipped, there is plenty of knowledge to be gained with regards to business. This would relate to how the new currencies have been utilized and the prospect of enhancing it further. Cryptocurrencies can be a possibility in digitizing prevailing arrangements in the development of the economies mainly deprived as strong as a traditional financial service infrastructure.

 CEO Elizabeth Rosiello, of Bitpesa, a blockchain-based start-up which tends to make the transfer of currency between frontiers markets in Africans countries and around the globe much easier stated that they have been utilizing a disruptive model with a layer of technology together with some start-up grit to shape on this informal economy. She added that they have digitized a model that was already in existence.

Blockchain Utilised- Not Best Model

Cathy Mulligan, the head of the Imperial College Centre for Cryptocurrency Research, in the meantime commented that though blockchain could be utilised, it would not be the best model. At times, developing and implementing blockchain could be considerably costly than merely utilising a database.

The Central at Imperial is in its initial stage though it has been functioning for several years and is operative with numerous commercial as well as administrative partners in helping elucidating cryptocurrencies. A professor at the London School of Economics, who has been specializing in the Chinese economy, Keyu Jin, stated that one of the reasons for success on Chinese business was that they had not been burdened by tradition. She commented that `renovating something is more difficult than starting from scratch.

 If a company does not have the burden of tradition, it is easier for them to update. When the capability for the customers to purchase cryptocurrency was launched by Revolut, the same was possible with a click of a button, a thing which the other financial institutes were not capable of doing. Chad West, CMO at Revolut stated that `it’s not good enough that banks are reactive. The finance world should be seen as innovators, along the lines of what Amazon and Tesla were doing.

Insight on the following Startups-

Coconut was the winner of Wired Smarter Money Start-up. The app had been designed for freelancers and independent workers. Its purpose was in elucidating the complexities of accounting and assisting people in receiving their payment in time. Some of it is dependent on automation like a real-time forecasts of the prospects of what would be the tax bill considering the prevailing cash flow.

It notifies customers on the expenses and reminders to take images of their receipts. Present Coconut provides only a free basic model though plans to launch a `Grow’ mode at a price of £4.95 per month. This enables users to manage VAT, send invoices and share payments together with histories on spending with an accountant, in-app.

 Canopy

Canopy tends to function as a platform linking property-owners with people leasing their property. It also assists tenants in building a credit history. Instead of going through an expensive process over and over again, tenants follow a process of RentPassport which is shared with the property owners according to their needs.

Fluidlyutilises

Fluidlyutilises past data together with machine learning processes. It also has the capability of estimating the future cash flow for small businesses and freelancing people. Moreover, it can also assist with calculating and follow up on late accounts statements.

 Flux

Flux has the tendency of an option to `liberate receipt data’. It is associated with banks such as Barclays and Monzo wherein one can automatically trace the complete purchase history via one’s bank account.

Oval Money app is for consumers who do have much insight on financial procedures and assists them in tracking their savings and expenses mechanically

Artificial Intelligence in Indian banking: Challenges and Opportunities

Artificial Intelligence in Indian banking Segment

Artificial Intelligence is speeding up as the latest technology for companies all across the globe to distinguish understanding for the individuals. Artificial Intelligence goes much beyond chat bots and banks in India need to consider adopting this technology. The technology has been making amazing progress each day enabling businesses inaccepting the Artificial Intelligence for most of the numerous applications. Banking segment has been making headway in Artificial Intelligence and has been exploring and implementing this technology in numerous ways. The basic application that Artificial Intelligence comprises of is bringing in smart chat bots to support the customers, initialling services for the customers as well as having a robot for self service at the banks. Banks can utilise Artificial Intelligence in Indian banking to bringing in additional efficiency in their system of operation, thereby reducing security risks and fraud that occur in the banks.

AI function with Humans – Future

Research firms seem to be confident of Artificial Intelligence in Indian banking sector. According to the report of Fintech India by PwC in the year 2017, worldwide expenses on AI applications had reached $5.1 billion, an increase from $4 in 2015. Interest is being diverted towards the banking sectors too.

As per the latest Accenture Banking Technology Vision 2018 report it is said that about 83% of the bankers in India are of the opinion that Artificial Intelligence in Indian banking would be functioning together with humans in the years ahead which is on the higher side than the 79% average of the world.

According to a report, “93% bankers in India stated that they utilise data to drive critical and automated decision-making. More partner-supplied customer data means a higher degree of responsibility for banks. Yet 77% Indian bankers agree that most firms are not prepared to confront impending waves of corrupted insights from falsified data”

Artificial Intelligence in Indian banking- Enhance Economy

Rishi Aurora, managing director, financial services of Accenture commented that “Artificial Intelligence in India is not something new. For ages the universities and research institutions have been functioning in the capacity of social transformation. With the assistance of technologies, it has now become accessible and economical.

Huge businesses and start-upsnow perceive various opportunities since Artificial Intelligence has now become conventional. According to study, it has been shown that with the implementation of this technology, Artificial Intelligence in Indian banking has the capabilities of enhancing the billion to almost $1 trillion to the economy in India towards 2035. Implementation of Artificial Intelligence is presently at its developing level with plenty of hard work to be put for its total accomplishment.

According to Darshan Shah, MD, South Asia, LenddoEFL, a Singapore-based fintech company, stated that with the application of Artificial Intelligence and machine learning to the various segments in the banking sector, it has supported them in providing a much more personalised as well as efficient services to their customers. Through this, banks now have the potentials of comprehending the preferences and expectations of their customers.

Robots – Service of Customers

Consequently, there is an improved result in computerization of back-end workflows. Over 36% of huge financial institutions, as per several industry reports have been investing in these technologies and almost 70% have plans for the same in the near future. Last year, State Bank of India, which is one of the largest banks in India, had conducted `Code for Bank’ hackathon.

This was with the intention of motivating developers in buildingresult leveraging innovative technologies like Artificial Intelligence in Indian banking together with Blockchain in the banking segment. The other banks in the private sectors such as HDFC Bank and ICICI Bank have gone ahead in introducing chat-bots in servicing their customers. Some have also moved ahead in placing robots for the service of their customers. Canara Bank had installed Mitra and Candi robots, last year at some of their places of work.

Personal Payment Experience

Varun Rathi, cofounder and COO, Happay, which is a Bangalore based start-up, targeting digital payment solutions commented that, `Artificial Intelligence are being utilised by disbursement companies to provide personalised payment experience to the consumers. With the use of AI and scrutinizing payment history patterns, the system of payment can prompt the desired payment instrument suitable for purchase at checkout.

These personalised consumer experiences tend to increase expenditure thereby creating stickiness to product, consumers tend to utilise. Chief architect, of Pune based Persistent Systems, corporate CTO; Abhay Pendsehas conveyed some of the common usages of Artificial Intelligence in Indian banking:

• Detection of Fraud – irregularity exposure can be done in increasing the accuracy of credit card, scam detection together with anti-money laundering.
• Helpdesk & Customer Service – Interfaces of Humanoid Chatbot could be utilised in enhancing efficiency thereby decreasing charges for customer interactions.
• Risk Management –Personalised products could be provided to consumers by scrutinizing their data perform risk analysis and eradicating errors.
• Security –unauthentic emails, suspicious behaviour, logs analysis can be traced to avoid securitybreaks
• Digitization & automation – back office processing – Using document data with the help of OCR and thereafter utilising machine learning or AI in creation of perceptions from data text would assist in bring down the processing time in back office.
• Wealth management for multitudes – Tailored folders could be done by Bot Advisors for customers taking in consideration lifestyle of account, appetite for risk, likely returns on investment etc.
• ATMs – to detect and prevent crimes and frauds, image or face recognition could be utilised for real time camera images and enhanced AI techniques like deep learning to be used at ATMs.

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How to Invest in StartUps

How Start-ups Investment Works

A group of investors tend to get together with a concept to an innovative solution weighing all the pros and cons to their new innovation. They come with some concept which would work and provide the revenue with their concept. The innovative idea then goes to the next level of turning it into a business and then goes to fulfill their goal of that idea. Here the need to obtain advice is essential from experienced entrepreneurs who have met success in the same field. To invest in initial stage startups there are two options:

• To invest in a priced equity round, wherein the investor purchases shares in startups at a fixed price 
• To invest in convertible securities wherein the amount of investment ultimately gets converted into equity. Capital – Needed Element

In the initial stage of startups, investors tend to depend on family, their colleagues or close acquaintances. However there could be some restrictions as to the number of individuals who could invest in these startups. This is due to legal limitations according to Legal Zoom. To start a business, capital is the much needed element and personal savings and personal borrowing are said to be the most two common possibilities for the same.

Personal savings are of two types namely cash and cash equivalent saving and retirement account. While personal savings could be utilised, the need of borrowed fund does not arise since the funds are already available for the start-ups. However there is a risk here since very often investor may not have the necessary subsidy for the startups. Moreover it could also be a gamble on investing their entire savings which may or may not succeed. The said funds could at a later stage in life,be utilised during retirement, or for any other purpose.

Personal borrowings could be beneficial for businessmen with good credit scores together with high personal disposable worth. Funds for the business can be obtained by way of personal loan or by applying for a new credit card. Here the possibility of the risk could be delay on payments, lowering the credit score and getting into further debt.

Crowdfund Capital Advisors – Crowdfund Investing Company 

As per Crowdfund Capital Advisors a crowdfund investing company, over 1,000 companies had registered with the SEC to raise subsidy on online portals where $137 million had been dedicated to such start-ups. Several start-ups had been subsidized in 80 various industries extending from restaurants to salons to logistics businesses. Some new portals such as Microventures, NextSeed, Republic, Seedinvest, StartEngine together with Wefunder, assist distinct investments in start-ups.

Progress Prudently & Cautiously

Some startups could generate disruptive novel products which could improve the economy. And an investor could face some risk by investing if he does not progress prudently and cautiously in the investment. Recent research has portrayed that more than 94% of fresh businesses tend to flop in its first year of startups. One of the common reasons is the deficiency of subsidy wherein money tends to play an important role in any business. Capital is the essential element which moves from a given idea to revenue generating business. Most of the entrepreneurs tend to get stuck due to this deficiency in their business. In startups, investment could be worthwhile personally as well as financially wherein there is a contribution in capital formation and creation of a job.

Concerns While Investing 

The following concerns need to be considered while making an investment in any startups business:

1. Investment should be done in an area one is familiar with. It is the best option of reducing the risk and one should have an understanding of the market that the start-ups functions in. One must have a better insight while projecting the probable success of the business. One should also ensure that the business in question tends to have a mountable model enabling it to grow to a point which would provide the revenue back that had been pooled in investing. A couple of years back, Securities and Exchange Commission had employed certain procedures in enabling businesses to raise funds by means of crowdfunding for those interested in making an investment for start-ups. 
2. You should do your own research in obtaining information and conduct your own diligence by scrutinizing the main documents, and ask questions regarding the management team.This will enable the investor in influencing your decision on the startups. 
3. In order to consider which entity one should use in making the investment, the investor needs to consider certain factors like the tax structure, its investment portfolio, personal conditions. Funding in startups can be done by sole person or through family trust or Individual Retirement Account – IRA. 
4. Before making an investment in any start-ups businesses, one should ensure to complete some of the paperwork needed like an ascribed investor questionnaire together with verification of the investor’s identity prior to investing into the company. 
5. While investing, the procedure is to get into a signed agreement with the party concerned, which set out the terms of the agreement. The document in some cases are held in bond till certain criteria are fulfilled 
6. Based on the arrangement of the deal, the investor can transfer the resources to an escrow account for security that is held by a third party till the release of the fund to the company when some of the conditions are completed. 
7. The documents and/or funds are released to the company when the conditions of the bond are fulfilled. Take Stock of Expertise & Expectations

Opting for an investor is more important than obtaining the required subsidy. It needs a certain amount of commitment. According to Entrepreneur, one needs to take stock of the much needed expertise together with the expectations before approaching a certain investor. One should consider the recent dealings, together with the services provided, the expectation they may have for the leaders of the company and the level of involvement required in the overall operation of the company. It is also essential to have a definite exit strategy in order, for any kind of investment, especially in the case of start-ups. Investors need to be transparent on how and when they would be in a position to withdraw their initial investment together with the related gains.

Filing Your Taxes- Watch Out for Phishing Scams

Online Phishing

For a long time, taxpayers had been notified by the Internal Revenue Services – IRS, to be cautious of online phishing where in crooks impersonate the organization utilising fake emails, websites or text messages to get hold of sensitive information. Online phishing had beaten an agency’s `dirty dozen’ list with the most predominant scams, last month.

However scammers tend to do much more than deception as the Internal Revenue Services. Designing fake online accounting tools such as QuickBooks have been done by some and still others pretend to be tech support agents.

Over 100 websites have been discovered by cyber-security firm `Lookout’which had been registered and designed to trick people attempting to file their taxes. The objective of the domain is to hook enormous groups of potential victims. As per the Internal Revenue Services, over 135 million Americans had filed their taxes electronically last year.

Domains Created to Gain Login Credentials 

It was also observed by Lookout that online phishing by the tax scammers had begun early and in December dozens of the websites had been designed from the time people had started receiving their W-2 forms. It is said that some were also tricked in the United Kingdom.

Several of the domains seemed to be created to get hold of login details or sensitive information such as passport number through online phishing. While the other types persuaded users to download malicious software.

A basic scam which was discovered by Lookout, were sites which would copy accounting tools from the company Intuit. They design popular software such as Quickbooks and TurboTax. It is said that these sites tend to utilise similar domain names like the real ones, namely `quickbook ltd.com’ or `accounts-quickbooks.com’ Most of the time these domains are created with the intention online phishing and stealing the login details of the users for the genuine sites.

 

Approach of Attack – SEO Optimization

It was also discovered that a type of site appeared to fit a classic online scam during the tax term, posing to be tech support. Most of the users do not tend to use tax software often and hence it was useful for most of the users to use it for assistance while navigating through it. Online phishing sites, such as `quickbooksupport.com and `quickbooks-helpline.com, unfortunately tend to wait for them.

According to security intelligence researcher at Lookout, Jeremy Richards, had stated that the approach of attack is an SEO optimization thing which means that the scams tend to catch users who could be navigating sites such as Google or Bing for assistance.

Support service posing as `support’ technicians at the 1-800 number listed at these sites usually ask for remote access to user’s system with the intention of stealing important information. Other tricks are to utilise the number to sell fake and unwanted software. Identical sites have also been created to imitate the technical support of Apple and the podcast Reply All did an examination in 2017, on similar tech support fraud.

Malevolent Marketing Network

Richard also found more than 50 tax connected domains belonging to the same malevolent marketing network. The modus operandi of the scam is not certain. However when the users visit the site, they are then directed to download malware concealed in the guise of software updates. This is a clever way of online phishing and getting hold of login details or sensitive information.

According to Richard, online phishing sites redirects the user to Google if they don’t arrive at the correct phishing trap, else they present a 404 error. Lookout utilised AI too designed in 2017 in order to get to know about the tax scams. This tool monitored the internet infrastructure organizations such as the companies offering free web hosting, for suspicious types of domains. With the help of this tool, Lookout located thousands of new online phishing sites daily and regularly cautioned companies whose websites were being hacked by the scammers.

Utilise Password Manager 

The tool was unable to provide clear information on the working of the same since it only watched for the websites. For instance if the scammer would send an email prompting the user to click on a fake IRS link, the same could be detected by Lookout though not the email. Richard commented saying `it’s like we see blood on the floor but do not know where the knife is’.

Some of the other scams reported, were found using social media in targeting users providing fabrication of fake tax breaks to gain sensitive information.According to IRS, these scammers tend to get in touch with users through mail and not through email. If one has not received a letter then it is uncertain of any electronic communication coming from the agency is genuine. Sincere tech support agents need not see the user’s screen or gain login information to assist the users.

It is always a good suggestion to utilise password manager rather than reusing the same password for various accounts. There is plenty to learn on the various operations of the scammers. However in the meanwhile users need to be cautious and alert with these scammers and be free from online phishing.

This is how the Bloomberg Terminal is becoming the backbone to financial businesses of the future

Bloomberg Terminal – Precise & Quick Delivery

Calculating the next movement considering the volatility of market all across the world seems to be a difficult task. It seems a challenge for those working in the finance segment in maintaining out-sized profits for their investors. For topmost financial professionals such as CEOs, CXOs, and CIOs together with high level executives, they require access to the news on the market movement and analytics in order to remain completive.

Bloomberg Terminal is beneficial in this competition to get exclusive statistics, analytics together with breaking news with regards to financial market and in-depth study from experts in the finance segments, all with a click of the mouse. Most of the financial experts can acquire the information from Bloomberg Terminal. For several years, Bloomberg Terminal had a status for its quick and precise delivery of unparalleled market information over various benefit modules. The portal supports businesses in catering to several types of tools like custom desktop applications, market alerts, portfolio monitors, together with charting potentials which could optimize the workflow of the user.

Accommodated Niche-Investors & Financial Experts

The Bloomberg Terminal had hit the market in December 1982 and is different from the PC or Mac. It has always accommodated niche-investors and the other finance experts. Presently, the Bloomberg Terminal is a service which is considered as Bloomberg It has been professional catering to over 325,000 subscribers, right from array of information pertaining to financial issues to chat system to the possibility of actually executing trades.

The strange thing regarding `Bloomberg Terminal’, is that people generally refer to the Bloomberg Terminal, as the Bloomberg Professional service, as commented at the Bloomberg website. Each day it tends to process 60 billion sections of information from the market. Bloomberg Terminal is a controlling platform meant for important technology requirements like the Order and Execution Management, Financial Data Management, Data and Content, Integration and Distribution.

Valuable Statistics

The Bloomberg Terminal has been developed to provide valued statistics right from equities execution – EMSX to fixed income trading, FIT to electronic foreign exchange trading, FXGO computer system has the potential of providing information necessary over various asset segment. The device also has the capabilities of delivering most of the trade and order management. It also supports in bringing about transparency regarding financial markets bringing together in a rising community of over 320,000, the most significant resolution makers in the world. The device now has the potentials of making the most of the order and trade management.

Suitably All-inclusive Suit of Solutions 

 

The OMS solutions of the Bloomberg Terminal had been developed in such a manner that it has been pre-integrated with the total enterprise service of Bloomberg. Owing to this the system is capable of offering a suitably all-inclusive suit of solutions from back to front office. Besides this it also tends to cover the buying and selling side, where its Assetand Investment Manager for the buy-side firms offers solutions like global, , multi-asset solutions of the management portfolio, compliance, trading and operations.

Moreover, it also includes Bloomberg’s Sell-Side Execution together with Order Management Solutions. – SSEOMS. Data is considered to be one of the most valuable assets for most of the financial companies. Handling high-value, high-volume data with precise intelligence is needed for the success of any business. The device collects all the details needed to stay forward namely as data utility, surveillance tools and supervision, cutting-edge investigative functionality, advanced reporting, record keeping and immutable storage.

Brexit: US-China trade spat and its possible fallout in an uncertain global economy

The exit of the United Kingdom from the European Union (EU) known as Brexit and the trade war between the United States and China are today among the top issues concerning the global economy.
Brexit and its aftermath

The sole question of 'Brexit' has consumed the United Kingdom for two and a half years. The yes, how and when of its impending exit from the European Union, after decades of belonging, has displaced any other debate and does not augur well for the global economy. The economic consequences will be felt more sharply in the UK than in the EU. Even so, political and economic systems are undergoing profound structural changes driven mainly by technology as well as trade and climate change. We can also find examples of high inequality leading to growing political unrest.

In addressing these crucial issues, politicians around the world should understand the lessons learned from 'Brexit.' Since you cannot replace something for nothing, there was no immediate break in trade between the UK and the EU. In the absence of any clear idea about what kind of 'Brexit' would end up materializing, the economic and trading relationship simply followed the previous model and any disruption was avoided.

Soft Brexit or short term? 

In making macroeconomic and market forecasts for the 'Brexit' and its effect on the global economy so far, short term versus long term has been far more important than soft or hard Brexit. Hard option is the total withdrawal of the UK from the European common market and customs union. The question being asked is not if the UK will face a significant economic reckoning, but at which point in time. Anyway, UK economy is already undergoing a structural change at a slow pace. There is evidence of fall in foreign investment in the British economy in general. This trend has brought the challenges associated with less than notable productivity growth, and there are signs that companies with operations in the UK have started implementing their contingency plans for the 'Brexit' after a prolonged period of waiting for clear signals from the political establishment.

Possible implications

Businesses will not only shift investments out of the UK, but they will also begin relocating jobs to mainland Europe. This will probably accelerate even if British Prime Minister Theresa May succeeds in getting the exit agreement she proposed passed in some way with few amendments. The exit of the United Kingdom from EU will be a poignant moment in the global economy. Earlier this months the British Prime Minister, Theresa May’s plan failed to pass the Parliament, and she faced a vote of no confidence.

Investors are focusing attention on the Davos World Economic Forum which is ongoing in Switzerland. It is hoped that the US presidents, Donald Trump, and Chinese, Xi Jinping will smoothen out trade frictions between two global giants. On the whole, it is hoped that the world economy will be on track during the rest of 2019, but issues remain that need careful attention from policymakers.

Overlooked Small-Business Features

Running your own small business is a dream come true, but it's not without its challenges. In fact, there are several key items that are often overlooked by the new owners. Get to know these details and why they matter to both employees and customers. Your business can thrive with every detail in its proper place.

Lighting Matters 

Walk into a dimly lit showroom, and you notice the lighting almost immediately. It's not exactly inviting, which causes you to turn around and visit another store. Pay attention to the level of lighting in your facility. It should highlight products along the shelves while offering enough light for patrons to enjoy the space. Try natural-light fixtures whenever possible.

Noise Factors 

You may like your music loud, but your patrons might not feel the same. Offer ambient music that's appealing to most people. It should evoke positive feelings, which makes the patrons stay even longer than they intended. Other noises, such as production sounds, should also be kept to a subtle level. Upsetting anyone with a loud "bang" will drive customers out the door.

Overworked Employees 

When it comes to your employees, small businesses tend to have only a handful of workers with dedicated hearts. Don't overlook their needs, however, while focusing on practical matters, including payroll services Florida. Remember that each worker is a human being with a home life. Offer reasonable time off on a regular basis. Your workers will have a better mindset at work as a result.

Anticipating Ups and Downs 

Study your receivables as the business moves through the fiscal quarters. Be aware of when you have influxes of customers or a quiet time. These patterns will help you with ordering and financial stability. Ignoring the trends may put you in a difficult situation in the future.

Patience must be your virtue as your business gains its footing in its respective industry. There will be both good and bad days. Focus on your main goal so that challenges aren't so overwhelming. A thriving business can turn into a legacy in little time.

Finding An Office That Works For Your Business

If you're trying to expand your business or you're developing a business and need somewhere to perform your work, then consider renting an office. Make a plan for how much space you'll need to rent. Some offices have divisions in them, which would be ideal if you have a few people working with you. However, if it's only you and another person or two, then you can usually find office space for rent MA offers that features an open layout. You can create sections in the office space using dividers or by positioning your desks so that they don't face each other, giving each of you the privacy that you need to complete your work during the day.

Aside from your employees, you need to think about your customers. If you don't plan on customers visiting the office that much, then you might not want to have a space with a waiting area. However, if your customers will interact with your business at the office, then you want to find a building that has a waiting area that is large enough for several chairs. The waiting area should be warm and inviting as well. It should also feature a few details that indicate what your business sells and the goals behind your company.

Set a budget so that you know what you can afford to pay for the office each month. Include utilities, moving expenses, and new office furniture and equipment in your budget so that you have enough money to spend without going in debt. Internet and phone services along with power and cable are also things that you should consider when making your budget. Find an area that is convenient for your customers, for your employees, and that will give you an opportunity to grow your business when you begin looking for an office to rent.

Facts About AS/400 Modernization

In the world of business, it is widely known among AS/400 users that some of the applications simply feel outdated and modernization efforts were underway. This is why it is a good idea to stay ahead of the game and start the modernization process right now. Here are some of the many benefits currently known that users will receive from modernizing their AS/400 systems.

Certainly, the biggest benefit of being gleaned from the upgrade is the increase in employee work productivity. Any time an interface is modernized, it is a direct result of providing a much more streamlined and useful experience. While veteran users of the system still claim that as far as sheer work capability, there is no comparison to the old 5250 AS/400 system, they are actually kind of kidding themselves by ignoring the sheer processing power that can come from the far more modern Windows-based system.

A Window-based system that is purpose-built can outperform a standard 5250 system simply by being able to instantly respond to the keystrokes of the user instead of having to block out entry fields to input data.

One unheralded benefit is that the cost of training employees is significantly reduced. Almost anyone who uses a computer can use a Windows interface and is very comfortable with it. There are very few people who know how to use the 5250 and those who do must have gone through very specialized training.

An unspoken of "hard truth" in the realm of those who use the 5250 system is that it suffers from a definite image problem when looked at in comparison to a Windows-based as400 modernization companies platform. When trying to retain current clients or when trying to garner new ones, you will want an application which is appealing to look at, not one which is antiquated in its graphics and "look".

As you can see there are some great reasons to perform a modernization on the AS/400 system. You will still get the solid and rugged reliability that the AS/400 is known for but you will also receive the sleek modern look of the Windows platform that so many of today's AveriSource computer users find appealing. There is no sense in segregating the portion of your customer base who is up and coming by trying to sell them on technology which is antiquated in both look and function.

Is homeowner’s insurance even necessary?

In an effort to save money, you may wonder whether you need homeowners insurance. Even if your home is paid for and you’re not required to have a policy, it’s still important to have one. When it comes to the protection offered by homeowners insurance Sacramento homeowners know that a policy can do a lot.

Protect Your Home

You never know when something could happen to your home. There could be a fire, a storm or even a break-in. If you don’t have sufficient coverage, you would not be able to make repairs or replacements. However, with the policy, you can file a claim and have the insurance company pay for the majority of what was damaged or stolen.

Avoid Paying for Lawsuits

A homeowners insurance policy will provide you with liability protection. Liability provides you with the knowledge that if someone gets hurt on your property, your insurance company is going to protect you. Someone could easily sue you because they fell while walking up your stairs or sprained her ankle walking across your yard. Without the coverage, you could end up spending a fortune as a result of their lawsuit.

Fix Someone’s Property

You can also have homeowners insurance as a way of fixing someone else’s property. For example, if your kid throws a baseball while standing in your yard and it breaks the neighbor’s window, you want to know that it will get fixed. Your homeowner's policy will cover replacing that person’s window so that it isn’t your financial responsibility.

Knowing why having a homeowners insurance policy is so important will allow you to have the necessary protection on your home. You can get a comprehensive policy that is customized to meet your needs so that you have less to worry about throughout the year.

8 Tips for Choosing Insurance

If you're in the market for insurance, you might be a little overwhelmed by all of the providers out there. How do you know which ones are worth your time? How can you be sure that they'll protect your interests in your hour of need? Instead of taking a wild guess, make an informed decision with these eight tips.

1. Consider the Type The first step to choosing insurance is to figure out which type of insurance that you actually need. Travel insurance isn't the same as medical insurance, and car insurance will have different terms and prices than home and contents insurance. You'll need to do your research to determine which kind of policy is right for you.

2. Stick to Your Budget You'll have a certain amount of flexibility when it comes to monthly rates; depending on your insurance provider, you should be able to negotiate a higher or lower bill in conjunction with your deductible and policy type. There might also be measures that you can take to lower your liability rating as an individual policy holder. Regardless of how you work out your pricing, however, you'll want to make sure that you don't go over-budget.

3. Ask for Recommendations There are people in your life who have already grappled with the same insurance questions that you're asking yourself. Maybe it's a parent or grandparent with a life insurance policy; maybe it's a co-worker who has recently switched auto insurance providers. Don't be afraid to reach out to them and ask for their opinion.

 4. Compare and Contrast Brands While there's nothing wrong with choosing a lesser-known insurance company, you'll want to do your homework about all brands, including the most famous ones. You won't be able to make a truly informed purchase decision unless you have all of the facts. Get a notebook; start jotting down names, rates and coverage types; make lists of pros and cons.


5. Look at Different Insurance Packages A good insurance company will offer multiple "packages" for the same kind of coverage. For example, a car insurance company might offer collision coverage in every one of their packages, but the only way to get a no-fault guarantee is to sign up for a premium package. You'll need to look carefully at terms and conditions before you make your final decision.

 6. Test Their Customer Service Pretend that you're a customer of a particular insurance company. Is it easy to use their website? Do they offer things like online billing and online claim reporting? Is their customer service desk open 24/7, or will you need to wait for general business hours? The ideal insurance company will make it convenient for you to get in contact with them.

7. Read Reviews and Ratings Let's say that you've found a potential insurance company. What does the general public think about them? Do they have good reviews from third-party websites? Are there any complaints or scam alerts against them? Have they been vetted by the insurance industry as a whole? Don't put your assets into the hands of a company without a solid support system.

 8. Talk to Insurance Agents At the end of the day, the best way to gauge the worth of a potential insurance company is to get on the phone with them. If their agents are rude, unprofessional, unskilled or lacking in general knowledge, you'll know that they aren't the right provider for you. On the flip side, if their agents are able to answer all of your questions and make you feel good about your decision to come to them, they might be worth the effort.

 These are just a few tips for choosing insurance. Whether you're protecting your home or your health, it's important that you take your time and evaluate all of your options. Don't rush into anything. Make a decision that inspires confidence in the coverage that you've chosen.

The Future of Cryptocurrency

Cryptocurrency and its future

When it comes to cryptocurrency the first thing we think of is Bitcoin. Bitcoin is a cryptocurrency which launched back in 2008 as a response to the world’s financial crisis. It was developed by Satoshi Nakamoto. The whole idea behind its development was to remove dependence on financial institutions and their ilk, the very persons who led to the financial collapse back in 2008.

But for most of us the whole concept of digital currency just does not sink in. I mean it is not something you can hold in your hand, it does not have any symbol like the Dollar attached to it, then what is it? Will it mean something when you hold it or is it nothing much than an idea? There are nearly 1,800 to 3,000 cryptocurrencies out there depending on the type and day of week it is. The vast majority of us as well as businesses do not know what to do when it comes to this form of currency.

The Wild Wild West of Cryptocurrency: 

Cryptocurrency is like the Wild West for many people. They just do not know what to make of it. To take it seriously or accept it as something of a passing fad?

But cryptocurrency may well be a part of our future. The traditional forms of currency have not undergone a change since the early 1900’s. only the laws and policies governing currencies have changed.

Just like everything in this world, change will happen maybe not now, but maybe in the future. The only constant is change.

For cryptocurrency to happen everything is already lined up. The technology, the networking is all there, the only thing not there is awareness and whole- hearted adoption which may not be so easy to achieve of the two.

Launch of a new type of Cryptocurrency: 

Recently a new form of cryptocurrency was launched which goes by the name LightPay Coin.

When it comes to Bitcoin, the first two things people are really worried about are the speed of verifying the transaction and the anonymity of people behind those transactions, which LightPay Coin seems to clarify.

Two months after LightPay Coin cryptocurrency launched, it was being used internationally with a market value of 8 million. You may be thinking 8 million what, well there is no real answer to that because cryptocurrency’s don’t really have any denomination.

A new masters programme to make you cryptocurrency savvy? 

When cryptocurrency is launched a new form of skill that will be high in demand is for people to know how to use it and this has led UCF’s College of Business and College of Engineering and computer Science to develop a 30- credit hour masters of Science in Financial technology.

What happens when Cryptocurrencies are used? 

The most important purpose of cryptocurrency is to remove the need of a third party. But that will not be totally possible as the Securities and Exchange Commission will need to regulate volatility to a certain extent.

New Tesla Bull Sees Case for Sixfold Surge to $300 Billion Value

Investors are alarmed with sounding off Tesla bull after a conference call

Tesla has been building slowly but strong. Its subsequent rise as a major tech firm with multiple interests has not just surprised a number of sceptics, critics but even its fans. It has risen over a number of fully documented and embarrassing failures but the last quarter has been extremely better for Tesla. However, the behaviour of its CEO during one conference call has simply changed the whole dynamic and sounded off the Tesla Bull. The behaviour shown by the Elon Musk during the conference call has emerged as a huge issue even though the performance of the firm has been acceptable and within the expectation set forth earlier. This has resulted in adversely affecting the performance of the Tesla shares in the open market.

Tesla: Shying away from questions

While taking on the conference call Musk had interrupted two analysts from asking questions. These questions were specifically targeted on the first quarter loss which happens to beat the expectations. Musk didn't take these question in his usual calm and simplistic stride rather termed the query raised by the analyst as boring bonehead and even suggested that the dry discussion is simply killing him. After which he went in his usual rhythm spent a large portion of his time joyfully interacting with the Tesla shareholder and the bloggers on a wide range of topics.

Tesla bull has been specifically sounded by his sheepish attitude in dealing with the queries raised by the analysts. It is worth noting that Tesla only allows one question per person but after sounding off the Tesla bull its CEO was more interested in getting the queries answered by the bloggers and shareholders rather than analysts.

Maligning the good days

So far Tesla was having a good quarter to shown in quite some time and it brought a wide range of positive signs. This has helped in building trust and credibility among the public, shareholders but criticism is always there. Upon hearing the queries from the analysts Musk appeared to be quite frustrated and this gave a sign to the Tesla haters of showcasing him as an unhinged or unglued person. One of the trade experts has stated that it is high time that Musk starts understating the basic thing that he is working for the shareholders. And it is own interest and company that he interacts with analysts in the best possible manner rather than running away from it which eventually will lead to more sounding of Tesla bull in future.

Shares are down

The frustrated and visibly shaken behaviour shown by Musk after the conference has not sounded Tesla bull but it has even given the dreaded 'red flag' to the company on the stock market. Tesla share is being sold on the stock market at a massive price tag of $385 and the consistent positive behaviour in the recent past made it stronger. But his behaviour has brought disaster for the firm as one of the premier analysts has given it a red flag and he is re-evaluating the stance on the company. The effect of Tesla bull can be easily seen on the stock market where its shares went down by 7% and traded at a low $280.

An Introduction to Popular Digital Payment Platforms

Digital Payment – Useful System of Transaction

The digital payment platforms have now become the most useful system of transaction in the Indian economy, particularly post demonetisation. When the announcement of doing away of Rs 500 and Rs 1000 notes had been made by the government, people had to move to digital payment method in a hurry for daily requirement on daily living for making payments on shopping to the payment of bills as well as to send funds to their family members. This situation had created a huge chaos among the citizens driving them to frustration.

The digital payment method though well-known now has its quotient of advantages and disadvantage. Its main benefit is the convenience of digital platform which can be utilised with ease. With several of the merchants now accepting the digital payment method, it gets easier in making transaction for, sending and receiving money in the digital mode.

The government is also encouraging such platforms with exemption from service tax when digital payment is done up to Rs. 2000 and 0.75% discount on fuel transactions. Moreover, users also benefit with referral bonus and cashback to merchants who tend to utilise the UPI platform BHIM by the National Payments Corporation of India.

Utilise – Safe Manner

Though digital payment is well known, it is essential that the same should be utilised with caution. Users need to know how to utilise the digital manner is a safe manner. Users could also get mixed up in choosing from the several digital system of payment in the market since there are many options to choose from. Some of the well-known digital modes of payments are mentioned below for ready reference:

UPI

Unified Payment Interface – UPI assists in sending and receiving money directly to one’s bank account. It enables the transfer of funds on utilising the UPI ID or the account numbers. Several popular UPI apps like BHIM, SBI UPI, HDFC, UPI, Tez, iMobile apps and much more are available in the market.

E-Wallets

E-wallets were beneficial when demonetisation had come up and the ATMs were not functioning. Since then people opted for it as a part of their daily activity. E-wallets can be utilised in the payment of utility bills, payment to be done at local stores, in sending and receiving money anywhere etc. Users need to be aware that KYC is compulsory in utilising e-wallets according to the instructions of RBI

Aadhaar Enabled Payment Service -AEPS

AEPS is said to be a digital paymentsystem that utilises the Aadhar number while paying the creditors. AEPS, unlike the other types of payment charges for the transactions that are made by the user or on behalf of the user. It tends to use your fingerprint as a password and the need of a signature is not essential, or an account number or any alphabetic or numeric password. It can be utilised in making interbank transfers also.

Unstructured Supplementary Service Data – USSD

USSD is unlike the other types since the use of internet is not needed. Users can check into their account send money or even alter MPIN with only a feature phone known as *99# since it utilises *99# as its code for transactions. Rs 5000, is the limit for each individual on the platform where a maximum charge of Rs 2.5 is charged for each transaction.

GST, demonetisation having desired impact?

GST/Demonetisation/Swachha Bharat – Anticipated Influence
 
According to Finance Minister, Arun Jaitley, the initiatives of the Modi government such as Swachh Bharat, Goods and Services Tax – GST, together with the demonetisation seems to be having the anticipated influence wherein GST and demonetisation have been causing increasing tax amenability and pressing significant of cash in the economy. Jaitley in his key note speech through video conference to the Berkeley India Conference had stated that public support to the reforms has been undertaken by the governments of the day at the centre as well as the state levels. He commented that he expects India would be capable of retaining its growth rate and live up to the aspiration of its people since it must not be overlooked that they not only belong to a huge population to service but have a very young population to service. He had informed that if India has to accept a challenge for moving into a higher economic group country, in the next one or two decades, the need to grow was essential at a much faster pace. In response to a query, Jaitley had contested that the transformation initiatives such as Swachh Bharat, GST together with demonetisation has not been the cause of any alterations on the ground.
 
Short-Term/Long-Term Impact
 
The finance minister was questioned as to `would you say there are long term benefits and the country would have to wait for those? Or is there any way to mitigate the issue being faced by the country?’ He debated that a much more serious analysis would be portrayed that even in the matter of months would show a short term positive impact on most of these projects. Though demonetisation as well as GST have been showing the desired impacts with regards to tax compliances and pressing the significant of cash in the economy, Jaitley for the first time had stated that Swachha Bharat campaign had brought to the forefront the importance of sanitation as well as cleanliness. H informed that adequate progress has been done considering sanitation and cleanliness for the first time in Indian history which has become the centre stage agenda and is making headway. The campaign of GST and demonetisation is said to be having short term as well as long-term impact.
 
Shake the System
 
Jaitley has informed that the campaign has become way beyond the administrative program and is a mass movement. He further stated that before demonetisation, Indian normal was to live with a high cash economy and not paying taxes, `you purchase a property, transact partially in cash and in business you maintain two sets of accounts. He debates on how could a country aiming to be the fastest growing major economy in the world, that aspires to grow from a developing to a developed economy continue with the normal of this kind. His observation was that one needs to shake the system in order to decrease the quantum of cash in India and hence apparently make it a more tax complaint society. Jaitley had commented that there has been sharp reduction in insurgent as well as terror activities in states such as Jammu and Kashmir as well as Chhattisgarh, in the instant repercussion of demonetisation.

3 Months with GST -Where does India Stand Today

GST – Non-Debatable Fact

GST, the largest tax reform in the country post-Independence, is presently the non-debatable fact wherein the main advantage that have been enhanced are the incorporating of various state together with central-level taxes in organization, simplification of compliances, continuous flow of Input Tax credits together with alleviation of surging effect of taxation and probable decrease in tax rates for the majority of goods and services.

GST has been considered as not merely a tax reform but something which is much more as a technological reform and GST with GSTN has been received as a different perspective of working of government portals. GSTN had introduced open-headed architecture thus empowering circulated flow of returns as well as improvements from private sectors.

The chairman of GSTN had quoted hat while the filing due dates for GSTR-3B, would be about 80,000 returns filed onto the GSTN portal and with these vast reform in carrying out, the challenges in its roll-out together with implementation would definitely be there. GST encountered some challenges with the infrastructure and awareness with the pre-fixed due dates in July. In order to bring about the awareness on GST in the industry, the government together

with the CBEC had proactively engaged for level transition in GST.
 

Supported with Workshops

 
The concerns of agreements with regards to Indian business had been talked with the support of workshops, GST awareness programmes, Seva Kendra, CBEC Mitra Helpdesk together with various other initiatives. The GST Portal with the provision of interactive and user friendly website has offered comprehensive user manuals, FAQs in order to make the tax payers familiar with every related compliances and returns, related to GST.

Besides this, tax payers are also made aware on the important announcements together with the activities with provisions of their queries being resolved through the official social media channels. The last few months also showed the overflow of queries from the traders as well as manufacturers on the stock in position with them from the pre-GST period while some of the queries were on the transitional credits. The government, in the midst of all these queries and chaos, had come up with strong explanations on these queries. Moreover they had also bestowed the tax payer with a choice of carrying forward tax or duty on any prevailing law or on goods that were in stock as on 30th June 2017 to GST via the transitional forms.
 

One Time Revision

 
Due date for filing of TRAN 1 had been extended to 31st October 2017. Besides this the tax payers had also been provided with a choice of a onetime revision to this type of return should any errors or omissions arise. GST is said to strengthen tax compliance through reconciliation as well as authentication of invoices thereby reducing the likelihood of back-dating invoices and deceitful tax credits. The lower tax burden along with Input Tax Credit is said to be alleged in reducing the cost of materials as well as logistics thereby enhancing the economy. The operational implementation of GST now depends on the precision of Invoices.

However it was seen that businesses had been modifying their Invoice formats to accommodate with GST, the registration under GST that had been made completely digital and transparent, was also considered. Around 7 million businesses had migrated to GST with the addition of another 2.5 million renewed registrations. Though GSTN has been permitted through its portal, the amendment in core as well as non-core fields filled in by the registered companies, cancellation of registration for these units freely registered under GST tends to be one-sided questions.
 

Extension of Due Dates – Confusion with Tax Payers

 
The government has provided extensive support for the extension of due dates but these extensions of due dates over and over again has also brought about confusion with the Tax payers of the due dates against the month wherein the returns need to be filed. Due date for July had been extended till 10th, 31st October and November 10th respectively to permit the tax payers in filing their returns without much trouble.

 Presently 50 lakh tax payers had filed in July GSTR 3B and about 31 lakh had filed July GSTR 1 and 24.33 crores invoices had been uploaded in the GSTN Portal. In order to make provision to this extensive filing mechanism, it is obvious that GSTN needs additional few months to settle the same. But the main test for GSTN would be the filings for GSTR-2A where several challenges will be seen with the pull and push of data for the purpose of filings.

A recently held 22nd Council Meeting of GST had been programmed on the completion of three months of GST which brought about various relaxation filled for the tax payers. This type of relaxation would definitely be a comfortable move of the Government which would also make the campaign with the provision of GST as a Good and Simple tax.

Interesting Tips for Protecting Your Assets

No one wants to see all of their hard work collapse due to unfortunate circumstances. Regardless of whether you own your own business or are simply a hard worker just trying to make a living, you probably have something that you want to protect in the event of an emergency. No one deserves to see all of their hard work turn into nothing, and that's exactly what this guide hopes to avoid. With that in mind, here's a quick look at a few interesting ways for people to ensure that their family is insulated from any financially damaging circumstances.

Cryptocurrency

Although it's quickly becoming a hot topic in the news, the reality is that cryptocurrencies have grown considerably in popularity over the past few years. With new markets emerging constantly, there's never been a better time to get involved in the industry. Unlike traditional banking institutions, cryptocurrency provides a speculative market for investors that don't want to worry about their money disappearing due to bad decisions from someone else. Instead, the cryptocurrency market is truly built on the enthusiasm of its investors and can provide a much more stable alternative to traditional currency investments.

Insurance Policies 

Although it may seem strange to think about, guaranteed acceptance term life insurance can be an effective means of protecting your family in the event of an untimely accident. By finding the policy that's right for you, you can invest into it without worrying about it backfiring and leaving your family to foot the bill. Instead, you can rest easy knowing that your policy will keep them taken care of well after you've moved on. In addition to giving you peace of mind, an effective insurance policy can also help you to keep track of your assets, so that you'll be more conscious of what you're leaving behind in the future. If you haven't already invested in a life insurance policy, then you might want to consider doing so before your family really needs one.

While these are just a few ways to protect your assets in the event of an emergency, this list is by no means exhaustive. Hopefully though, by following along with this guide, you've been inspired to come up with some new ideas of your own. In the end, there's more to life than just hoarding money, but that doesn't mean you should leave your family to fend for themselves after you've passed on.

Estonia's Crypto Currency Concept

Estcoins – e-residency Scheme

The anticipation with regards to Estonia’s crypto-currency existing online which are not controlled by any central bank or government has gained new heights since the value of bitcoin had reached above $4,000 (£3,100). Estonia desires to issue its own virtual currency with the support of Ethereum founder Vitalik Buterin.

Estonia which is a country that takes pride on being at the cutting edge of digital technology has been speculating with the idea of a currency known as estcoins which would be connected to its successful e-residency scheme giving foreigners with an opportunity of starting business in the digital identity of Estonia.

The same had been successful wherein Kaspar Korjus Managing director at e-Residency, Enterprise, Estonia and the one in charge of the scheme had disclosed recently that the numbers signing up had crossed the birth-rate of Estonia.

He wished to take advantage of this opportunity of interest by providing e-residents digital tokens which could be utilised when they would access several services or engage in transfers between businesses. He acknowledged that this seems to be a fantastic idea and that it would involve discussions with all kinds of government bodies.

He was of the opinion that the central bank of Estonia could be doubtful with regards to having a complete new currency running beside the euro.
 

Evade Tax/Money Laundering

 
The supporters of crypto-currency could also be cautious of a scheme which tends to run counter to the entire liberal character behind bitcoin together with its followers. Mr Korjus however informs that the government cannot only sit back and watch the new financial technology being implemented. On the contrary rather than attempting in stopping things as usual, government needs to explore ways of regulating and improving systems which would work and which individuals would prefer.

One of the reasons for bringing it in was that crypto-currency can be utilised in evading tax or for money laundering. By securing estcoins to a digital identity, Estonia expects to avoid that issue. Recently, Izabella Kaminska, the special guest of the Financial Times had pointed out that this did not sound different from conventional currency and what would be the need of reinventing the wheel.

The crypto-currency would be launched through the version of crowdfunding of digital coin community which is an initial coin offering – ICO that permits start-ups in raising funds by selling off cryptocoins like bitcoins and ether in exchange for cash. They are said to be identical to initial public offerings – IPOs though tend to differ wherein in dealing with supporters of a project they make the investment more personal.
 

E-Residency Ecosystem – Generating Strong Incentive Alignment

 
The small eastern country is not new to the digital innovation and had been the first country in offering citizens of the world `e-residency’ which is a digital ID for non-Estonians with the provision of access to services such as banking, payment processing together with taxation.

Korjus had mentioned in a blog post that `a government-supported ICO would be giving more people with a bigger stake in the future of the country providing not just investment but also more expertise together with ideas in assisting them to grow exponentially’. Korjus had informed that Vitalik Buterin the founder of the blockchain network Ethereum in 2014, is a strong supporter of the digital innovation of Estonia and has offered feedback on its estcoin proposal.

Buterin had mentioned that `an ICO within the e-residency ecosystem would be generating strong incentive alignment between e-residents and this fund as well as beyond the economic aspects, would make the e-residents feel more of a community as there are more things they could perform together’.
 

Easy & Convenient for Use

 
Buterin had also mentioned in his blog post that besides this, if the crypto-currency is allotted on top of a blockchain, they would probably be issued in numerous formats at the same time, and nothing would be erroneous with this. It would then be easy as well as convenient in utilising them within smart contracts together with the other applications.

Blockchains are said to be distributed legers which tend to function as the foundation for digital coin business deal. Korjus had mentioned that over 22,000 e-residents from `138 countries had signed up for the initiative making a huge contribution to the economy of Estonia.

The President of Estonian, Kersti Kaljulaid, last month had informed that her nation had been the only truly digital society, strengthened by the state. She had mentioned in an article for the Telegraph that nearly all the interactions of the citizens with the government, inclusive of voting could be done securely online and that their e-residents could incorporate as well as run their businesses in Estonia without the need of having to set foot there. She further added that seeing this digital revolution up close has made her query whether the state that they know today is fit for the 21st century.