India Infrastructure Finance Company Limited (IIFCL) Tax Free Bonds

India Infrastructure Finance Company Limited (IIFCL) Tax Free Bonds IPO opens on 26/12/2012.

Allotment on first come first serve basis. Interest rates for retail investors -7.90% for 20 years, 7.86% for 15 years & 7.69% for 10 years. Retail investors can apply up to Rs.10 lacs. 11.43% post tax return for investors in the 30.90% tax bracket. "AAA" rated by CRISIL, ICRA & BWR.

Remember, Tax Free Bonds also can be subscribed in your existing Demat account.

Is your cheque book CTS compliant? :: Business Line

Your old cheque leaves may not be valid after December 31, 2012, as the RBI has instructed all banks to implement the Cheque Truncation System (CTS) across the country. This calls for your immediate action to make sure that your cheque book is CTS compliant.

WHAT CTS IS

Under the CTS system, the physical movement of cheques between banks will be eliminated.

Normally, when you issue a cheque to someone, he presents the cheque in his bank to get the credit.

The cheque then moves physically from his bank to your bank which involves a lot of time and risk. RBI recognised the disadvantages of this old system and brought about CTS, where instead of the physical movement of the cheque, an electronic image of the cheque is transmitted to the drawee branch.

Outperform Sensex :: Business Line