Have you watched the movie Big Short? If you have, you will understand how structured finance works. They are full of complexities and meant to be complicated. Though the film focuses on real-life housing crash in 2008, you should know that not all structured products were made to fall. Considering India holds the largest stock exchange in Asia, there are all kinds of products available here. The…

Money holds lots of importance in every person’s life. It is the most valuable resource which needs lots of alertness and calculation. With the rise in prices of all products and services, people have realised the essence of savings. They have also started saving some for the future and resolved most of their monetary problems.

All individuals want to live a secured and successful life where they see their dreams come true. They want to excel in every field, whether education or…

People all over the world want to progress and achieve their goals while they are alive. They have lots of aspirations and desires that they wish to fulfil to live peacefully after retirement. They want to excel in every field, whether academics, sports, or even employment so that they can be proud of their achievements. Many Indians travel abroad for better opportunities and a broader scope to achieve them.

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According to the FEMA directives, NRIs are those who live overseas for more than 183 days in a calendar year. They earn their living in foreign currencies, which get deposited in their foreign account. However, those NRIs who have their income sources in India require an NRO account. This way, even if you live abroad, you can manage the finances back home. There are several other reasons you need this account, which are –

Takes care of your Indian dependents

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Recurring deposit schemes provided by banks are favourite investment choices for many people. Working people, as well as people with smaller incomes, choose RDs as their investment option. Under this scheme, a person must invest a specified sum of money for a fixed period each month and receive interest on their investment. Upon maturity of the RD, the principal sum is returned along with interest.

RD schemes are usually more flexible than FD schemes, which often benefit those who…