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Bharata Finance Posts

How to shift Bitcoins from Pocketbits to Coinbase

If you have purchased BTC from Zebpay or Pocketbits, it is always safer to transfer the entire amount to your Coinbase account. If you do not have any account with Coinbase, I strongly recommend you to sign up with them. You will get 10 USD in your account by signing up with this link (only if you are from the US and trade 100USD Bitcoin with them). If you do not want it, you can directly head over to Coinbase.com.

ETH Could Hit 2000 USD by the end of 2017: Should you Invest Now?

Bitcoins has already been a success. It is now time for ETH to rise and it has been touching a new high almost every new day. 3 months back the price of ETH was below 6,000 INR. However, it is currently trading at 16,000 INR.

ETH vs BTC: Head to Head Comparison

Last 1 Month Comparison

BTC Last 30 Days Price: 1,00,000 to 1,63,000 INR

BTC May to June price

BTC community does not want ETH to succeed- An Interesting Read

Ethererum was launched on May, 2015. Their blockchain went live on 30th July 2015.  But it was only by 2016, Ethereum started getting notable media coverage.

Spring 2016

It was spring, 2016. Visionaries saw ETH as the world computer that could transform the world. These visionaries had already seen the growth that you and I are seeing today. Seeing the enormous possibilities, they invested their money in ETH.

BTC vs ETH

Which are the best stocks to Invest in 2017 – Top 50 Stocks

I have written a couple of answers on Quora on how to choose the best stocks in 2017 which you can read more about it here – Link 1.

A week back, when I was doing a research on finding some new stocks, I found some really interesting names that can get you some good money in short term and long term.

Most probably, you may not have heard about these stocks but their performance have been really great in the past and have been giving good results lately.

5 Important Things You Need To Know About SIP

SIP or Systematic Investment Plans is one of the most preferred investments options in the present scenario as it involves periodic investment and thus less cost is incurred at one time. It is also an investment with best returns as it is a Mutual Fund type investment. But before investing in SIP there are few things that you must necessarily know.

5 Important Things To Know About SIP

ICICI PPF Account- How To Open a PPF Account With ICICI Bank

ICICI PPF Account opening is an easy and quick process. With benefits like complete tax exemptions on the returns and PPF being a long-term government initiated scheme, authorized banks provide PPF account opening schemes. ICICI Bank is one amongst those banks who have been given the authorisation by the Ministry of Finance to allow customers to open a PPF account.

General Benefits of PPF account

A Public Provident Fund Account has many benefits for an individual who has opened an account. The generalized advantages of the scheme are as follows:

  • Good and almost constant interest rates.
  • A beneficial long-term investment option for a smooth retirement.
  • Low minimum initial investment.
  • Complete exemption from Income Tax under Section 80C.

Check: UAN Portal Login and New UAN LogIn website

ICICI PPF account

Eligibility Criteria to Open A PPF Account At ICICI Bank

There are few set norms regarding a PPF account for all authorized banks. ICICI bank also has the similar rules. They are as follows:

  • Only Indian citizens can open a PPF account.
  • An individual can have only one PPF account.
  • A PPF account can be opened for a minor by parents or legal guardians. Grandparents cannot open a PPF account for a minor grand-child if they are not the remaining guardians.

Documents Required To Open A PPF Account At ICICI Bank

ICICI Bank requires certain documents related to opening a PPF account for individuals. These documents are to be submitted as a formality and proof while applying for initiating a PPF account. Given below are the set of documentation required for individuals who wish to open a PPF account.

For individuals having less than five years of transactions with ICICI Bank:

  • Submission of a filled Form A (Form for PPF Application)
  • Recent passport sized photographs
  • One copy of your PAN card.

 For individuals having greater than or equal to 5 years of transactions with ICICI Bank:

  • Form A filled with required details.
  • Recent passport sized photographs.
  • One copy of PAN Card.
  • Any residential proof document.

PPF Account Benefits for ICICI Bank Account Holders

There are certain benefits that can be availed by individuals who have opened a PPF account in ICICI Bank. They are as follows:

  • Funds can be transferred easily to a savings banks account which is linked to PPF Account.
  • Sends regular updates and instructions to ensure that an individual invests at the right time.
  • An online portal is made available to view PPF account details.

Pradhan Mantri Jan Aushadhi Scheme

Pradhan Mantri Jan Aushadhi Scheme was introduced to promote generic medicines that are available at affordable prices rather than the expensive ones frequently prescribed. Generic medicines are those who have equivalent effects and chemical composition as of their highly expensive substitutes. Thus Jan Aushadhi is a health plus social reform scheme which would enable all the citizens of India to avail medicinal help in the case of health deterioration. The scheme aims to benefit both the pharmacist and the customers.

PMJA

Jan Aushadhi Scheme: Administration, Quality, Safety

The Indian Department of Pharmaceuticals is the main monitoring body of the Jan Aushadhi Scheme. This department has set up an administrative body separately to carry out all the proceedings of the scheme. The administrative body is known as the Bureau of Pharma Public Sector Undertakings of India(BPPI). BPPI is responsible for promotion, quality checking and supply of the generic medicines under the Jan Aushadhi Scheme.

As for the quality of medicines, it will be thoroughly tested under NABL certifications. The batches of generic medicines will be produced by private suppliers in a completely monitored manner to ensure the production safety. Moreover, the rigorous testing would also ensure that the generic medicines are as effective as their expensive substitutes. A website has been launched where customers can view all the Jan Aushadhi medicines that have been manufactured.

How To Open A Jan Aushadhi Store: Eligibility, Other Processes

A pharmacist needs to fulfill certain eligibility requirements to open a Jan Aushadhi store. An application will be accepted by the government only if it follows certain requirements. They are as follows:

  • The applicant for opening a Jan Aushadhi store must be an individual capable enough to provide their property to set up the store. Leased or rented properties also fall under this category.
  • When the application for Jan Aushadhi is made, the applicant must not be employed at any other organization.
  • The applicant must secure a license for sale under a recognized and authorized body. In short, the applicant must possess a Retail Drug License.
  • Applicants for a Jan Aushadhi store must have all their monetary statements updated for a duration of three years. Their financial accounts must be audited along with a transparent documentation stating their bank account details.

The above eligibility criteria being fulfilled, the State Health Department must be contacted to enable the procedure to commence a Jan Aushadhi store. Preferably these stores will be in proximity to hospitals and other health clinic facilities. To promote the sale of Generic medicines from these stores, the hospital doctors and other medical assistants will be instructed to prescribe those particular medicines.

How Successful has been Jan Aushadhi Scheme

The Government of India has extended a budget of 2 Lakh INR along with an extra 50,000 INR for hardware installment and other infrastructural developments. As per the set norms, the Jan Aushadhi Stores must sell a generic medicine at a discount of 16%. Also, the government has promised financial incentives to Jan Aushadhi Store owners based on the total number of generic medicines sold. The number of active Jan Aushadhi stores are  87 as of now. An entire updated list along with the locations have been provided in the official website of Jan Aushadhi Scheme. The timing for a Jan Aushadhi store is from 8 a.m. to 8 p.m.

The Jan Aushadhi scheme is flexible in every way. Thus if followed in a well-planned manner it would go a long way in helping the citizens of India as far as the sale of medicines is concerned.

Bharat QR: All You Need To Know

Post demonetisation, the government has plans to fulfill a revolutionized motto: To create a forward “Digital India“. The government has taken a step further in their encouragement tactics by introducing Unified Payment Interface through the launch of BHIM App. Now the current trend that has been introduced to promote cashless transactions is Bharat QR. The Bharat QR will enable a simpler approach to availing the benefits of cashless transactions, minus the extra processing fee required in case of debit cards and other merchant payments. Let us take a closer look at the details of Bharat QR.

Bharat QR

What are QR Code Based Payments

QR code based payment basically provides a unified gateway for all payment modes. For example, a user wants to pay via credit or debit card. But the one accepting the payment does not have the swiping machine. This is usually a dead end, where cash payment is the immediate option pursued. Now another option can be considered. That is payments via interfaces Freecharge and Paytm. But again both the sender and the receiver need to have similar apps. Now, this is where Bharat QR comes to play. Being the unified gateway it does not need similar apps or a swiping machine. Bharat QR needs a supporting banking app like the BHIM App and you are all set to make the payments.

How Does Bharat QR Work?

Bharat QR is a code that will support all standardized payment means. It includes Visa, MasterCard, Debit Cards and Rupay Cards. Its range and flexibility make it user-friendly thus promoting more people to go for cashless transactions. The interface will help customers make payments even in the absence of swiping machines and similar payment apps. Thus a two-way benefit is seen: a shopkeeper need not invest in a Point of Sale (PoS) swiping machine and the customer does not have to incur the processing fee losses while making payments via debit cards on PoS swiping machines.

 Payments Via Bharat QR

Bharat QR’s interface has been integrated into Pockets App introduced by ICICI Bank and PayZApp introduced by HDFC Bank. More banks will soon be integrated by launching supporting banking apps. For generating the QR code, BHIM app has to be used. Thus before making payments with Bharat QR, make sure you have BHIM App installed in your SmartPhone. The following steps have to be taken thereafter to complete the payment:

  • Scan the QR code via the BHIM App.
  • It will redirect you to the payment portal associated with your bank. There enter the payment details and the amount you have to pay.
  • Add a remark as to where the payment is being made.
  • Enter the 4 digit passcode as generated by the BHIM App.
  • Your payment will be authenticated and the money will be debited from your account and initiated to the receiver’s account.
  • The receiver then needs to take a print out of the generated QR code and add it to the payment desk.
  • Thus the amount debited from the customer will immediately be credited to the receiver’s bank account.

Bharat QR: How Secure Is It?

Bharat QR does not demand your ATM pin or CVV details. You simply have to scan and pay. Thus it is an extremely secure interface to make all merchant payments. Your card details are protected and the payment details remain secure with the sender. Also, the receiver can receive the sum immediately in their bank accounts without going through the hassles of a swiping machine or mobile apps. Scan and Pay. Scan and Receive. That is the simple and secure fundamental of Bharat QR.

Here’s How You Can Transfer Your PPF Account From One Post Office To Another

It is usual for an individual to open a PPF account with the nearest post office branch. But in the era of job hopping and residence hunting, it is difficult to stay constant at a particular place. Thus in such cases, the PPF account needs to be transferred from one post office to another for greater convenience in future. Given below are the elaborate details of how the transfer can be made possible.

PPF Transfer: PO to PO

Primary Documents Required

The operation of transferring PPF from one post office to another involves certain formal documents and ID proofs. They are as follows:

  • The SB 10(b) Form
  • Address Proof
  • Personal ID Proof
  • The updated passbook associated with your PPF account
  • The address of the new post office.

The details of the documents are discussed below

The SB 10(b) Form

The SB 10(b) is the official documentation required to initiate the transfer of PPF account from one post office to another. SB 10(b) form is available online on the official website of India Post. This can also be physically collected from the post office in which you have your PPF account. The following details should be present mandatorily while filling the form:

  • The PPF account number.
  • The details of passbook associated with the PPF account.
  • Address of the present Post Office.
  • Address of the new Post Office.
  • Signature of the primary account holder.
  • Signature of the postmaster.

The form SB 10(b) has been designed in a letter format. Thus the above details have to be addressed to the current Post Office along with the PPF account number. After addressing is done it also requires three specimen signatures. After the account holder fills the primary details, the remaining information has to be filled after checking account balance. These details are to be verified by the postmaster.

Form And Documents Verification

Verification of the SB 10(b) form will be done by the postmaster by referring to the following documents provided by account holder:

  • The original updated passbook associated with the PPF account.
  • Address proof
  • Personal ID proof.

The verification will be done by checking the balance details in the passbook and matching it with the SB 10(b) form. Then further processing follows.

Submission For Processing The Transfer

Both the verification and submission process has to be done at the current or old Post Office. After the verification process is complete the postmaster confirms the transfer to be done with final signatures. The following processes follow:

  • The original updated passbook is returned to the PPF account holder.
  • The old account is set to close.
  • An application along with a demand draft addressed to the primary person concerned in the new Post Office.
  • The demand draft amount is basically the amount of balance in the PPF account.
  • The new Post Office will receive the application and the demand draft.
  • Then the individual has to report to the new Post Office for verification of credentials.

Opening Of PPF Account In The New Post Office

Post the verification of credentials at the new Post Office, a PPF account will be opened for the account holder. The amount in this account will be the transferred balance from the old Post Office. The account holder will them be issued a new passbook. There is an important point that the PPF subscriber must keep in mind after the transfer is successful. It is the verification of the balance details according to the old passbook. If the balance has been incorrectly transferred due to some errors a complaint must be issued.