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India’s first online weekly on personal finance has it’s genesis in the passion to inform and share knowledge. But we also want it to be done in the most professional manner. So we built this business model for ourselves. Take a look and tell us where we can improve.
1.0 Executive Summary:PersonalFinance2.01 is
India’s first online weekly on personal finance. It will be an information and aggregator site on the subject of personal finance in
India. In other words, the site organizes information on personal finance in
India.
1.1 Objectives:The simple objective of this site is to organize information on personal finance with an Indian perspective1.2
Mission:To increase the financial awareness levels of Indians at all levels.2.0 Company SummaryThe why, what and when of this site is as under:WhyAll of us can do well to improve our financial awareness levels. In
India, we have a long way to go. We buy insurance as an investment product. Less than 2% of our earning members participate in the mutual funds or stocks.What The simple objective of this site is to organize information on personal finance with an Indian perspective. Consequently if there is an increase in financial awareness and helps in taking better financial decisions, so be it. We have sections on financial literacy, all financial products, a directory for financial advisors and a forum for discussing personal financeWhen We started the first update on August 7, 2007.3.0 Products and Services The site is an information site and there are no products and services other than information. However Forum, Feeds and the Directory could possibly be clubbed under information services. Various sections on Mutual Funds, Insurance, Stocks, Bonds, ETF, etc could be clubbed as information products. And we don’t know how to classify Interviews, Editor’s choice and financial literacy articles4.0 Market Analysis Summary The big daddies of the internet like Yahoo and Rediff have a presence on the topic of personal finance. Their content is provided by some very professional sites/companies like PersonalFn and MoneyControl.Other sites active on this topic are
MyIris, India InfolineHowever a search on “personal finance
India weekly” throws up our site as the first search result!The most important question to ask is “What this site offers to survive in the web sphere where such big daddies/players are active?” However Big daddy sites do not necessarily provide better user experience. 5.0 Strategy and Implementation Summary Our uniqueness lies in us being an online weekly and we can build on that difference by becoming a preferred site because of our passion for financial literacy and a warm, personal touch. The USP of this site will be “one stop personal finance site with better user experience”An action plan to market the site and to increase the traffic is as under:Ø Financial Literacy workshops and seminars at · Corporate Offices· Schools and Colleges· Professional Colleges· Cooperative societiesØ Advertising with BloggersØ Media exerciseØ Posters, pamphlets and bannersØ Inviting free registrations on our directory for financial advisors
6.0 Personnel Plan We need not more than 10 people passionate about the project and divided into three skill setsØ Content Champions: One more guy other than me would be enoughØ Marketing Champions: Two-three peopleØ Support Champions: Two-three people
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Welcome to the site map of India’s first online weekly on personal finance. I’ll be delighted with some feedback.
Sections
Features
Forum:A place to ask your questions or to help the other guys with their doubts
Directory: Find an advisor in your area. And if you are an advisor yourself, you can register
Calculators: The best way to manage your finances is to measure them.
About Us
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SEBI is mulling over a proposal to waive entry loads for direct subscriptions to Mutual Funds which is not routed through a distributor/ AMFI Advisor.
The Stock market news shows a daily flip flop. One day it rises and the next it goes down. So instead of the weekly roundup, let’s take a look at some heavy minuses in the past. So what comes down, goes up again and vice versa!
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Source: Business Standard
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Ten months ago I did not know what a blog was! Stuck at home due to a back injury, I was chatting with a geeky friend about websites when he suggested that why didn’t I start with a blog. Blog? What’s that, I said and my friend sent me the blogger link!!
And I have been amazed at the helping hand provided in forums, blogs, bloggers and comments who encouraged me on this journey. It’s another kind of life!!
I wanted to organize all the information I had and wanted to share. Mainly because I felt that we have a long way to go before we reach some satisfactory levels of financial awareness. The blog had it’s limitations and armed with the knowledge that geeky guys are always ready to help the newbies like me, I started asking more and more questions on forums and fellow bloggers.
And I reached Dreamhost! I shot off a mail to their support staff about my ideas of a website and how I did not know anything. Got a quick response about how to go about it and it mentioned something about Joomla, a CMS. That was in April, 2007 and I went to Joomla’s site for the first time!
Dreamhost provides One-Click Software Installs including WordPress, phpBB, Advanced Poll, ZenCart, MediaWiki, Joomla, Gallery, WebCalendar. [ This means that with just ONE-CLICK - even a newbie can install a WordPress blog on ther server/website - they can also do that if they need a CMS or if they need an E-Commerce website - just one click to lift-off!!
I have installed Joomla on India’s first online weekly on personal finance and wordpress on the site’s blog. And did I mention free domain and subdomains!
In case any one ofyou have some website ideas, why don’t you check them out. They have some great discounts and you might get some by mentioning this promo code too:SRV7
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The third update on India’s first online weekly on personal finance has the following articles.
Personal Finance, Website
The following are the important events and decisions made during the first week of August’07 which has an impact on our personal finances.
On 31st July, RBI Governor announced the review of its monetary policy and increased the cash reserve ratio (the deposits that banks keep with RBI) from 6.5% to 7%. RBI also lifted the daily cap of Rs 3000 crore which the RBI had kept on absorption of excess liquidity. The CRR move will lead to absorbing around Rs 15-16000 crore of excess liquidity from the system.
The RBI has the unenviable task of reducing inflation, keeping the interest rates benign and also keeping the Rupee appreciating beyond Rs 40 a dollar. The three are linked but not exactly friendly with each other. To keep the Rupee from appreciating, RBI is buying Dollars. And that injects extra liquidity in the system which can lead to inflation.
Facing the wrath of the sub-prime woes in the US markets, the Indian indices plunged sharply on August 1 and this resulted in them ending lower for yet another time on the bourses. The week was witness to one of the biggest intraday declines ever. Coming on the back of a huge sell off across the globe, especially in the US markets, Sensex edged lower by more than 600 points on Wednesday and Nifty too, declined by more than 180 points.
The markets are nervous and the volatility index, maintained by the Chicago Board Options Exchange, has doubled in recent weeks. Swaminathan S Anklesaria Aiyer, in his weekly column in TOI asks us to hope for the best but be prepared for the worst. Mr Aiyer has visualized three scenarios. One, nothing to worry, things will become normal soon. Two, there is a cyclical down trend waiting to happen. Three, there’s a disaster coming! He remembers the Asian crisis ten years back.
In Mutual Funds, the total Asset under Management (AUM) reached Rs 4,86,513 crore at the end of July, a jump of 21.5% over Rs 4,00,333 crore at the end of June. That too when the PAN has become compulsory from July 1, 2007 and the MFs were cribbing about it being unfair that the Insurance companies were not subjected to the same regulation.
UTI Mutual Fund latest offer of Lifestyle Fund takes into accounts the changing demographics. This scheme has an investment objective to provide long term capital appreciation and/or income distribution from a diversified portfolio of equity and equity related instruments of companies that are expected to benefit from changing Indian demographics, Indian lifestyles and rising consumption pattern. There are 242 companies identified for investment and I’m told that the last three year return of these companies is 52% and for the last one year, it’s a whopping 72%!
ICICI Prudential Life Insurance Company will be focussing on health insurance in a major way. The company has announced the launch of “Crisis Cover”, a policy covering 35 critical illnesses, total and permanent disability and also death. Crisis Cover will be sold through the company’s 680 branches. ICICI Prudential is working on revamping its features of Diabetes Care, a plan launched in November last year. The policy encourages a monitoring regime as per the Diabetic Association of India with policyholders required to undergo three mandatory tests
Financial Literacy Series, Website
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