Today I learned that a lot of people think that paying minimum due on credit cards avoid penalties and interest. And they end up paying 30% plus interest annualised on balance due.
Why is it not explicitly mentioned on the minimum due figure that this is bare minimum and this incurs heavy interest on outstanding amount along with interest? Can’t RBI and finance ministry mandate a rule that against minimum due amount on statement they have to clearly say how much extra interest people have to pay if they only pay minimum due?
Please retweet so that this reaches the right people. I will also be reaching out to the RBI
The market isn't killing Indian traders. The system is.
And the numbers prove it. 🧵
India once dominated global derivatives trading.
In Q1 2024, NSE alone accounted for 84% of all equity options traded globally. Monthly F&O turnover had hit a staggering ₹8,740 lakh crore.
We weren't just a market. We were the market.
Then the dismantling began.⬇️
Here's everything they did — in order:
This is going to be a game changer for traders who chose @kotakneo!
While most traders lose money, majority traders lose due to brokerages, charges and statutory levies.
Time to rethink your trading platform if you want to win in the long-run!
50% CASH COLLATERAL - MANDATORY EVEN FOR INTRADAY TRADING
Lately due to revenue pressures, a few brokers have started charging 2X the brokerage, if 50% cash/cash equivalent is not maintained as margin towards F&O exposures.
Yes. Either Interest is being charged at anywhere between 12% to 18% OR brokerage is being doubled to ₹40 OR both. And Yes, in INTRADAY trading as well.
2X brokerage, even if the balance is negative by even ₹1.
At #KotakNeo, life continues as usual-
- Zero Interest on Intraday trades, even if collateral is 100% in Stock or MF units. (No requirement of 50% Non cash collateral for Intraday trading)
- Brokerage at ₹10 per order for all F&O trades across plans (Zero Brokerage, if trades placed thru Trade APl’s)
- Interest is charged only in case of carry forward trades at 8.99% (Not 12%, not 15%, not 18%) in case 50% is not maintained in cash/cash equivalent on carry forward trades.
Brokerage cost moving up silently, without noise. 🤫
After much reflection, I have decided to resign from my position as Director of the National Counterterrorism Center, effective today.
I cannot in good conscience support the ongoing war in Iran. Iran posed no imminent threat to our nation, and it is clear that we started this war due to pressure from Israel and its powerful American lobby.
It has been an honor serving under @POTUS and @DNIGabbard and leading the professionals at NCTC.
May God bless America.
"I have 30,000 to invest, should I buy silver? What fund do I buy?"
I am seeing a lot more friends, family, and folks in general reach out for advice on their portfolio in the last few months. It is probably because volatility is so high across asset classes, returns over the last year have been muted to negative for some, and noise and confusion prevails. The reality is: neither me, nor anyone else, can give you a quick fix for a portfolio. Investment advice requires time and context. But a few thoughts for everyone:
1. Please educate yourself on the basics. Too many people want to buy funds, before learning basic finance. Diving before learning how to breathe. Not a book plug, but if you need a starting place, our book Mango Millionaire is a good one.
2. Make a personal investment statement. Document your money situation and needs. Cover four things - 1) income and expenses, 2) current investments and liabilities, 3) goals and timelines, and 4) your thoughts on risk - losing money.
3. Please go talk to a good personal finance professional - either MFD or investment advisor. Take this document to them as a starting point. Talk to multiple folks if you want, and then find someone you are comfortable with.
4. Do not rush to make a financial monument. You don't need to have a direct stock portfolio, figure out whether to buy silver or find a PMS. All of this can wait till you find your feet.
5. If you haven't started, start. If you have started and made mistakes, relax. Everyone does. The financial crisis of 2008 was caused by some very smart people making mistakes. You are allowed a few too. Relax, reflect and learn.
Market corrections are a bit like board exams... Painful, but extraordinary teachers. Pay the tuition fee, and move forward.
Get 2 Years of Cal ID Pro — Free (Limited Time)
✅ Teams
✅ Workflows
✅ Modern Public Page
✅ Premium Booking Link
All premium features for free
To claim, repost this post and sign up at https://t.co/jjh0bzRsBf
(Yes, feel free to repost this, it counts 🙂)
If AI based Mutual funds could out perform peers and benchmarks just because they use AI, we would be hearing of such funds dominating the US/China MF markets as their AI capabilities are quite advanced.
None of the AI funds there seem to have done anything out of the ordinary!
Unnecessary hype on AI based NFO, maybe? :)
@Swiggy charged me ₹700 rupees for an order and the food quality is pathetic. Now when we raised with customer support they offered a ₹76 coupon and on further escalation gave a refund of ₹127.
The food is sitting on the table barely eaten. Worst quality these days.
Hey folks! Super excited to join Traders Summit -Bengaluru by @marketsleague . Will Be discussing "Psychology of Trading" and joining the Live Expiry Trading Room and panel discusion...Sign up Here is exclusive 📣 50% offer 📣 for my followers
https://t.co/3Hiwb6okin
Progress not crisis
There has been no year without any domestic or global crisis. We focus only on crisis and not on progress. This is because, as Morgan Housel says, progress happens too slowly to notice and setbacks happen too quickly to ignore.
In the last 7 decades, how many problems we’ve faced as a nation? Innumerable. At the same time, see how we’ve also progressed on various fronts.
Investors who focus on progress create abundant wealth. Those who focus only on crisis, gets jittery and lose the precious wealth creation opportunity.
You need to always keep only bigger picture in mind. If day to day headlines, amplified by media, scare you, you won’t go very far in investing.
Consumption, entertainment, travel, leisure, buying home, borrowing, saving, investing, insuring, healthcare, industrial activities, agriculture, working in office, improvements in technology, infrastructure development.... the list can fill pages; all continue to happen irrespective of any crisis.
If there is a problem in Ukraine, you don’t stop brushing with Colgate, stop taking bath with Hamam or not paint your house with Asian Paints. Commerce is the back bone of civilisation and never stops.
By investing in stocks or equity funds, you’re participating in commerce and its progress.
India over next two decades is capable of becoming a middle income country.
By investing in equity, you also become part of this growth and create wealth.
If you focus only on crisis, you’ll miss the underlying progress.
One crisis or another would always be there but so is progress.
Keep the focus right and just stay the course.
Coming soon on Sensibull
1. Upgraded OI Charts
2. Upgraded FII DII data with insane analytics on FII, DII, Client, and Pro data
3. Open Interest + Trading View charts combined
4. Huge revamp on Virtual Portfolios (Guess what!)
Lets go! 🚀🚀🚀
Free on select brokers!
📈 Ready to unlock the secrets of the stock market? 🚀 Subscribe to my YouTube channel now and join the journey to financial success!
Subscribe Now :- https://t.co/DYyRKv4PUj
💰📺 Don't miss out on daily market insights and tips. Let's grow together! 💪🤑 #StockMarket#Investing
📈 Ready to level up your investing game? 🤑 Dive into our Full Playlist on the "Basics of Stock Market" to unlock the secrets of successful trading! 💼
Watch Full Playlist Here:-https://t.co/nO8r6HcAlQ
💰 Don't miss out on this golden opportunity! 🔥💡