Category Archives: Personal Finance

Personal Finance

Betting made on Prince William and Kate Middleton’s baby

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A celebratory mode is present in the royal family, as Prince William and Kate Middleton’s baby is due in mid-July 2013. The impending birth of the royal baby will bring great joy to the family and will mark a big moment in history, but will also give people a chance to win big money.

The Duchess of Cambridge is due to deliver the royal baby in mid-July and thousands of people are betting when the baby will be arriving and whether it will have the signature ginger hair of Uncle Harry. William Hill is considered to be one of the world’s biggest online betting sites and it has already taken more than £20,000 in bets. The information on the betting was confirmed by the spokesperson Rupert Adams.

Adams said, “Obviously the closer we get to the big day, the more interest we will see”. The spokesperson went on to say that he expects most money to be bet on the name of the baby, which is followed by its size and the birth date. Some people might even win big if the royal couple decides on the odd choices like Waynetta or Chardonnay.

Most of the experts have predicted that Kate and William will have a beautiful princess, but the odds are split regarding which royal will carry the future queen or king out of the hospital.

Personal Finance

European leaders to fight against tax evaders

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On May 22, 2013, European leaders have determined to fight against tax cheaters and have pledged to share bank account data across the European Union and also accelerate the initiatives to tackle abuse by companies.

The leaders are facing a rising anger from hard-pressed tax payers about the loss of revenue and also a wave of publicity about how the big companies are saving billions by misusing tax loopholes. The leaders of EU have agreed to the automatic exchange of information beginning from January 1, 2015.

As he arrived in Brussels, Werner Faymann, Austrian Chancellor told the reporters, “It’s a bad day for tax cheats”. Fayman also confirmed that he would support the legislation. Recently, Austria, along with Luxemburg, had delayed the progress on ending bank secrecy. Every year, state members of EU lose about one trillion euros to tax fraud and aggressive tax avoidance, which is the equivalent of total spending on health care across the 27 nations and almost double the collective annual budget deficit.

According to the EU officials, economic crisis broke a logjam that has held up efforts at taxation reform for several years. The recent measures will mainly target the wealthy individuals.

Personal Finance

Indian Railways to launch personalised alert service for passengers

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The Indian railways is now all set to launch a new service for its passengers, in which the traveler can get alert messages on their phone. Passengers will also receive alert messages if the train is delayed or cancelled.

The railways is planning to introduce personalised services which match with that of various airlines. The services include a wake-up call, which will be provided in collaboration with RailYatri.in. Plans are also being made to provide a smartphone app which will provide real time information on the positions of the trains and will also predict the expected time of arrival in different stations.

Manish Rathi the CEO and co-founder of RailYatri.in said, “We’re looking at providing services likewake-up calls and informing passengers if there are any changes in the schedule of the train they are booked in like delays or cancellations through SMS or phone calls”. Rathi added that the system can also be used to alert someone about the position of a train, so that they would be able to receive their family at the station on time.

RailYatri.in is already offering real time details on the routes, predictions and arrivals of up to 6,500 trains at any given point in time on the website, with a service known as Rail Radar.

Personal Finance

Chidambaram to launch direct cash transfer scheme on Jan 1, 2013

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After Prime Minister Manmohan Singh formally announced the introduction of direct cash transfers to beneficiaries of subsidies; Finance Minister P Chidambaram said that 42 schemes have been identified for the same, which include food, fertilizers and NREGA.

Chidambaram added that out of these 28 schemes are all ready to be rolled out via direct transfer from January 1, 2013. The finance minister also said that at present there is no proposal to transfer food or fertilizer subsidy.

The minister also assured everyone that all necessary infrastructure required for the implementation of the scheme is in place and that all digital data would soon be provided to the banks. Several members of banking correspondents armed with mini ATMs will act as bank operators. Chidambaram added that multiple distributors are expected to open distribution points as well.

The government also has plans to roll out a cash transfer scheme in 51 districts from January 1, 2013. It would later be extended to 18 states from April, 2013  and subsequently the rest of the country further into the year. At present, the government aims to cover the entire country by the end of 2013. The direct bank transfer scheme will send money straight to the bank accounts of beneficiaries and almost all of them are from poor sections.

Personal Finance

Northern Railways to introduce special pink slips for tatkal tickets

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Indian railways taken several measures have in recent times to cut the number of illegal reservations through illicit travel agents. Northern Railways will now introduce a pink reservation form which will help to identify the ‘tatkal’ ticket seekers from the rest.

The passengers will have to fill out the form at the counter and will have to provide details such as address, contact number and ID. For now only a single form is available for tatkal as well as normal tickets. The new forms will be issued from this weekend.

The pink form will have just four columns for the number of passengers. A railways official said, “This has been done to ensure that not more than four Tatkal tickets are booked by a person as against the normal practice of six”.

VK Gupta, the GM of northern railways said that more than five lakh multiple personal IDs and 44,000 Ids have been created by agents; these have been deactivated since February 2011. The accounts were deactivated by IRCTC’s anti-fraud team to check for misuse of the ticketing service. The earlier tatkal ticket booking time began at 8 am, now it begins at 10 am daily. Gupta also revealed that 62 special trains will run for the festive season rush.