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Pradhan Mantri Kaushal Vikas Yojana: Key Components

PMKVY is a scheme introduced by the Prime Minister for skill development and Entrepreneurship. This scheme is introduced to enable large number of youth to participate in the industry-relevant skill training. This will help them to secure their future and the skilled people will be certified under Recognition and Prior learning (RPL). The training and assessment fees are paid by the government so that each and every youth can grab the benefits of this scheme.

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Key Components of Scheme

The key components of Pradhan Mantri Kaushal Vikas Yojana are as follows:-

Short Term Training

This will definitely help the school/college dropouts and unemployed people as it will imparts training in soft skills, financial, entrepreneurship and digital literacy. The duration of the training varies from 150 hours to 300 hours according to the job role.

Recognition of Prior Learning

The main objective of the RPL (Recognition and Prior learning) is to align the competencies of unregulated workforce. The people having prior learning skills can be assessed and certified under this scheme.

Kaushal and Rozgar Mela

‘TPs’ organizes the Kaushal and Rozgar Melas in every six months and it is believed that the social and community mobilization is critical for the success of Pradhan Mantri Kaushal Vikas Yojana.

Placement Guidelines

This scheme presents the amazing link of knowledge, aptitude and aspiration to the workforce. This will help them to create the job opportunities for the workforce. Their each and every step move toward to train the youth so that they grab a good job opportunity.

Monitoring Guidelines

It is quite necessary to ensure that the Pradhan Mantri Kaushal Vikas Yojana is working properly. That’s why NSDC and empanelled Inspection agencies shall use their methodologies to inspect the scheme. They also assure us that these methodologies will be improved with the engagement of new technologies.

For More information visit: govyojana.in

Why you should invest in Mutual Funds in 2017?

Professional Management

There are some qualified people who manage your money and they are not alone. Their research team continuously analyzes the performance of companies. They also select the perfect investment for you and complete their objective.

Diversification

The diversification will reduce the chances of your losses as it will diversify your money to different companies. It is quite difficult that all your stocks will decline at the same time. Sectors funds are more volatile as they will spread your money across one company.

More Choices

The Mutual Funds give you large number of choices that will be very much beneficial for you over your lifespan. At different stages of your life you need financial adviser to rearrange your portfolio.

Affordability

If you are a small investor, then it is not possible for you to make large investments or buy shares of larger corporations. Small investors can make use of mutual funds as they offer minimum investment requirements.

Tax Benefits

The 12 month’s investments will qualify for capital gains and these types of investments will definitely get tax benefits. For More Infor Visit: http://www.imutualfund.in/

ELSS for Senior Citizen

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ELSS is like a tax benefit scheme in the form of a deduction from investments. There is a provision under section 80C of Income tax Act. Equity-Linked Saving Schemes will allow you to choose an equity option so that you can save tax. This scheme is made for tax saving purpose and it ensures that your investment will grow at rapid rate. As we know that this scheme comes with a huge amount of return, so it is quite clear that the risk involve in ELSS is also large. There is no doubt that ELSS is made for young investors but let’s take a look on matter that do they are suitable for senior citizens or not.

Matter of Age

It is not a fact that if someone should stay away from this scheme because he/she is senior citizen. In fact, if someone has got 10 to 15 years of lifespan left then they can make use of this scheme. ELSS funds will diversify equity oriented funds so that you can earn more returns.

Lower Overall Exposure

We will have a large limit of investment available under section 80C of IT act. This limit is about 1.5 lakh and it doesn’t mean that senior citizen must use the whole value. With the help of this route the investor can make 20% to 25% of tax saving investments.

Income Flow

There are lots of senior citizens who are looking for this scheme because this fund will provide them a regular income flow. That’s why this scheme is beneficial for the citizens because it will full fill their needs. ELSS provides them a liquidity option in the form of dividend payout.

At the end, we can conclude that this scheme is quite beneficial for the senior citizens as it is flexible and provide a liquidity option to the investors.  http://bharatafinance.in/

HOW ONLINE CREDIT CARD ACTUALLY WORKS

For those who are willing on going to online credit card processing which can be confusing task altogether. There are number of steps which can be complicated and loaded with paperwork. You will also come across some critical terms and you will be confused even more. By understanding on how the process takes place, where the money comes from? And knowing about all the hidden fees will actually put some insight into how the online credit card works when you apply for one.

Bank card networks are burley marvel to work within seconds between merchant’s processor and banks. In a matter of seconds the information is passed though a software processor and goes to the card processor to the bank where it will be issued for approval. Later the issuing bank will send back to the authorization through the card network before reaching back to the terminal or say software.

Confused? Let us make this simpler and explain how the online credit card actually works like financeclap.com :

First of all there are key players which are involved in the whole process of credits card from authorization to card transaction, they are:

Cardholder: A cardholder is a person who applies for the bankcard be it credit or debit from the issuing bank for which they present the card to the merchant in order to make payment for their goods and service. The cardholder requests a purchase from the merchant and the next step takes place.

Merchant: I simple words merchant is any of the business which are engaged in the sales of goods and services. But in the case of bank card, merchant is any business which maintains a merchant account which enables them to accept credit card as payment from us as the cardholders in return of goods and services. When the cardholder makes a request, merchant then submits the request to acquirer.

Merchant or Acquiring Bank: They are ones who contract with the merchants to maintain and create accounts to help the business to accept credit and debit cards therefore they are known as merchant’s bank. Acquiring bank provides the merchants with equipments and softwares to accept the cards, promotional material and customer service involved in card acceptance. Basically it is the registered member of the card associations.

Issuing bank: As the name suggests, issuing bank issues the credit cards to the consumers and they are also the member of card associations. Now it becomes the responsibility for the cardholder to repay the terms of agreement made within the credit card.

Card associations: their responsibility is to govern interchanging fees and give qualification guidelines and act as the middlemen between issuing and acquiring bank and also to improve the card network by making profit.

To conclude, above are the key players who help you to acquire a credit card online. To speak in simple language, the process takes place in four steps with the key players involved:

  1. Authorization
  2. Batching
  3. Clearing
  4. Funding



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