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Ramalingam

Ramalingam Kalirajan  |6340 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 01, 2024

Ramalingam Kalirajan has over 23 years of experience in mutual funds and financial planning.
He has an MBA in finance from the University of Madras and is a certified financial planner.
He is the director and chief financial planner at Holistic Investment, a Chennai-based firm that offers financial planning and wealth management advice.... more
Syed Question by Syed on Apr 16, 2024Hindi
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I want to change my daughter DOB in sukanya samridhi yojna in post office. I have supporting documents like birth certificate and aadhaar updated. But post office employee told me that DOB dnt change in sunakya yojna. Please guide me what procedure I follow

Ans: I understand your concern about changing your daughter's DOB in the Sukanya Samriddhi Yojana account. While updating details is important, changing the DOB might be a complex process. Think of the DOB as the foundation of the account.

The post office employee might be right about not allowing direct DOB changes within the Sukanya Samriddhi scheme. However, there might be a way forward. Here's what you can explore:

Contact Higher Authorities: Reach out to the Sukanya Samriddhi Yojana program office or department head at your local post office. Explain your situation and inquire about the possibility of rectification if you have valid documents like the updated birth certificate and Aadhaar card.

Supporting Documents: The key is having strong documentation to prove the error. Ensure your updated birth certificate and Aadhaar card clearly reflect the correct DOB.

Patience is Key: These processes can take time, so be prepared to follow up and provide any additional information required.

If these initial steps don't yield a solution, consider consulting a Certified Financial Planner (CFP). They can help you navigate the process and explore alternative options if necessary. Remember, your daughter's education is an important goal, and there might be other financial planning strategies to ensure she has a bright future.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Ramalingam

Ramalingam Kalirajan  |6340 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 27, 2024

Asked by Anonymous - May 13, 2024Hindi
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Sir, I open a SSY account .when i open ssy a/c my daughter DOB is 4/2/2014 then now at her Aadhar DOB is 4/2/2016 so Sir tell me how can I change at SSY account
Ans: Identify the Discrepancy

Initial Details: Your daughter's SSY account opened with DOB 4/2/2014.

Current Aadhar: Aadhar shows DOB 4/2/2016.

Steps to Change DOB in SSY Account

Visit the Bank/Post Office: Go to the branch where you opened the SSY account.

Carry Necessary Documents: Bring the original and a copy of your daughter’s Aadhar card showing the correct DOB.

Submit a Written Request: Write an application requesting the change of DOB in the SSY account. Mention the reason for the discrepancy.

Documents Required

Aadhar Card: Proof of correct DOB.

Birth Certificate: If available, provide a copy of the birth certificate showing the correct DOB.

SSY Account Passbook: Bring the passbook to update the details.

Possible Outcomes

Update Processing: The bank or post office will process your request. It may take a few days to update.

Verification: They might verify the documents before making the change.

Follow-Up

Check Status: Follow up with the bank/post office after a few days to ensure the update is complete.

Get Updated Passbook: Once updated, get a new passbook or the updated pages reflecting the correct DOB.

Important Considerations

Accuracy: Ensure all documents are accurate to avoid future discrepancies.

Communication: Keep a record of all communications and receipts from the bank/post office.

Seek Professional Guidance

Consult a Certified Financial Planner (CFP): They can provide additional guidance and support during this process.
Final Insights

Correcting the DOB in your daughter's SSY account is crucial for future transactions and benefits. Ensure all documents are accurate and follow up regularly with the bank or post office. Consulting a Certified Financial Planner can also provide peace of mind and professional support.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in

..Read more

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Milind

Milind Vadjikar  |161 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Sep 19, 2024

Asked by Anonymous - Sep 17, 2024Hindi
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Dear Sir, I have another question: I have been investing in the Bajaj Allianz Life Goal Assurance Plan for the past five years, which is a combination of insurance and investment. The total premium payment duration is 10 years, with a SIP of ?10,000 per month, followed by a lock-in period of an additional 5 years So far, my monthly contributions of ?10,000 have grown to ?9.40 lakhs, with an approximate CAGR of 16%, although the insurance coverage remains at ?12 lakhs. Initially, I did not have much knowledge but continued investing due to the plan’s market-linked structure. For the first five years, my funds were allocated to Pure Stock II and Equity Growth funds basically large-cap. Recently, mid-cap and small-cap index funds were also added to their portfolio. Now that I’ve completed 5 years of investing in large-cap components, I am considering allocating the remaining 5 years to mid-cap and small-cap funds, without increasing the SIP. This would be done through a fund switch from large-cap to mid-cap and small-cap or by dividing the allocation equally—25% each across pure-stock, equity growth, mid-cap, and small-cap funds. Would you recommend this strategy while allowing the large-cap corpurs from the first 5 years to grow at their own pace and remaining 5 years switched into mid-cap/small-cap. Since the policy will mature in 2034, this gives me ample time for the investment to grow, allowing the corpus to build significantly over the remaining years
Ans: Since you are looking for 10 year time horizon, I recommend you divide the allocation equally(25%) across pure stock, equity growth, midcap index and small cap quality index funds.

Happy Investing!!

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Radheshyam

Radheshyam Zanwar  |892 Answers  |Ask -

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Sep 19, 2024

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I am bsc cbz(chemistry botany zoology) 2nd semester student in bikaner rajasthan and my age is 22 and general category and want to pursue research msc than phd but confused about the scope in india in research field i am from middle class family . I dont want to become a school/ coaching teacher but can look for assistant professor and i am not interested in doing msc in chemistry or physics want to do in biotechnology microbiology etc. please help me ????????
Ans: Hello APRK.
You can pursue an M.Sc. and aim to go for P.Hd. There is a lot of scope for research field in India. To become an assistant professor, you must have a minimum qualification of M.Sc. If you are not interested in M.Sc. Chemistry / Physics, then you can go with Biotechnology Microbiology. This is also a good option for you.
In my opinion, there is no point in diversifying yourself without any reason. The correct path is B.Sc. then M.Sc. and then P.Hd. Join as an assistant professor in any college and even though you don't want to join any school/college, you can join any big coaching center or start your coaching. Without any confusion at this stage, just focus on your B.Sc. and try to excel In it with a high %tile for a better future in PG and P.Hd. While pursuing a B.Sc., if possible join some computer courses related to AI, Website development, Mastering Excel, Business Automation, etc. to have an added advantage from a job placement point of view.

If you are dissatisfied with the reply, please ask again without hesitation.
If satisfied, please like and follow me.
Thanks.

Radheshyam

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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