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How to Maximize LIC Pension for 9 Years of Service at Atl with 8 Lac Accumulated?

Ramalingam

Ramalingam Kalirajan  |8626 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Feb 11, 2025

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
Bharat Question by Bharat on Feb 11, 2025Hindi
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Dear Sir / Madam , i worked for 9 years with company name Atl , My LIC superannuation amount is total around 8 Lac . I am ok with not withdrawing 1/3rd amount Which Option should i choose to get maximum Pension/month and for maximum period , all clauses are mention below for your reference : 7. Option to choose pension i) Life pension ceasing at death, No purchase price shall be paid on death of beneficiary, No guaranteed payments. ii) Life pension with guaranteed payments for 5/10/15/20 years. No purchase price shall be paid on death or at end of 5/10/15/20 years guarantee. On survival to guaranteed payment pension shall be continued to be payable till life survives. (Please specify period) . iii) Life pension ceasing at death of member with return of capital (purchase price) to beneficiary alongwith group pension terminal bonus declared by LIC. iv) Joint life and Last survivor pension to member and his/her spouse (without any gauranteed payments as in case of 1) v) Joint life and last survivor pension to the member and his/her spouse with return of purchase price on death of last survivor alongwith group pension terminal bonus declared by LIC. 8. Mode of payment of pension (specify specifically) (MLY / QLY / HLY / YLY) 9. State whether member wants commutation of pension (Yes / No) as per prevalent Income Tax Rules. (Please note that at present member can commute maximum to 1/3 (33.33%). This proportion may range maximum upto 1/2 (50%) if member is not eligible to get group gratuity. rgds Bharat

Ans: Dear Bharat,

To maximize your monthly pension and ensure the longest duration, the best option depends on your needs:

Maximum Pension:

Option (i) – Life pension ceasing at death offers the highest monthly pension but stops at your death.
Option (ii) – Life pension with a guarantee period (10/15/20 years) ensures pension continues even if you pass away early, making it a safer choice.
Maximum Benefit for Family:

Option (v) – Joint life & last survivor pension with return of purchase price ensures your spouse continues receiving pension and the purchase price is refunded to heirs.
Best Choice for You
If you need maximum pension for life, go for Option (i) or Option (ii) with a 15/20-year guarantee.
If your spouse also needs financial security, choose Option (v).
For pension frequency, monthly (MLY) is best for regular income.

Since you are okay with not withdrawing 1/3rd, you can choose NO for commutation to get a higher pension amount.


Best Regards,

K. Ramalingam, MBA, CFP
Chief Financial Planner
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment.
Asked on - Feb 12, 2025 | Answered on Feb 12, 2025
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Sir Thanks for the reply , How much monthly pension i can get if i go with option 1 , Considering last 3 years as a reference. My age is 40 now , total fund 8 Lac
Ans: Based on LIC annuity rates in the last three years, Option (i) may provide around Rs. 5,000 – Rs. 5,500 per month for an Rs. 8 lakh corpus at age 40. Exact pension depends on LIC’s prevailing rates. You may check with LIC for the latest annuity rates.

Best Regards,

K. Ramalingam, MBA, CFP,
Chief Financial Planner
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment
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 Kalirajan  |8626 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 26, 2024

Asked by Anonymous - Mar 21, 2024Hindi
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Good Afternoon Sir I am Ashok Kumar, aged 50 years. I am working in Haryana as State Government Employee since March 2013. Myself share (@ 10% of Basic+DA) as well as Government share (@14% of Basic+DA) is contributing in my PRAN under NPS scheme in following schemes (default scheme set-up):- i) SBI Pension Fund Scheme (34.0%)- State Govt. ii) UTI Retirement Solutions Pension Fund Scheme (32.0%)- State Govt. iii) LIC Pension Fund Scheme - State Govt. (34.0%)- State Govt. Total contribution in my PRAN till date is Rs. 12.216 lakhs and Total Notional Gain is Rs. 6.026 Lakhs i.e. a return of approx. 9.0 % is showing in the statement provided by NPS/PROTEAN. Here, my question is whether i should go with the above current schemes or i should change above schemes so that i can get maximum benefit at the time of retirement. If i have to change the schemes, kindly also suggest schemes so that i can opts for the same. Thanking you
Ans: Ashok Kumar,

Thank you for your detailed query and the trust you have shown in seeking advice for your NPS investments. Your dedication to securing a better retirement is commendable.

Let's analyze and evaluate your current investment strategy in the National Pension System (NPS) to help you make informed decisions for maximum benefit at retirement.

Current NPS Allocation Analysis
You have a diversified allocation in the default schemes set up by the State Government:

SBI Pension Fund Scheme (34%)
UTI Retirement Solutions Pension Fund Scheme (32%)
LIC Pension Fund Scheme (34%)
Your total contribution till date is Rs. 12.216 lakhs with a notional gain of Rs. 6.026 lakhs, reflecting an approximate return of 9%.

This indicates a stable growth, but let's assess if this is optimal for your retirement goals.

Assessing the Need for Change
When considering changes to your investment strategy, several factors need to be evaluated:

1. Risk Tolerance and Time Horizon
Given your age of 50, your risk tolerance and investment horizon are crucial. With potentially 10-15 years until retirement, balancing growth and safety becomes essential.

2. Performance of Current Schemes
Review the past performance of the SBI, UTI, and LIC pension funds. While historical performance isn't a guarantee of future results, it provides insight into the fund managers' capabilities.

3. Fund Management Style
Actively managed funds can outperform the market with skilled managers. It’s important to verify that the fund managers of your current schemes have a consistent track record of delivering returns above the benchmark.

Recommendations for Optimal NPS Strategy
1. Re-Evaluation of Pension Funds
Consider diversifying into funds with a strong performance record. Reviewing quarterly and annual returns can guide your decision on maintaining or switching funds.

2. Consider Actively Managed Funds
Actively managed funds often yield better returns compared to passive funds due to the expertise of fund managers. They can adapt to market changes and take advantage of opportunities.

3. Avoid Direct Funds
Direct funds require active monitoring and investment knowledge. Regular funds managed through a Certified Financial Planner (CFP) provide professional oversight and strategic adjustments, ensuring your portfolio aligns with your goals.

Benefits of Professional Guidance
1. Strategic Asset Allocation
A CFP can help you align your asset allocation with your risk tolerance and retirement goals. They provide a balanced mix of equity, corporate debt, and government securities tailored to your needs.

2. Ongoing Portfolio Management
Continuous monitoring and rebalancing by a CFP ensure your investments stay on track. This professional management adapts to market conditions and personal changes.

3. Maximizing Returns
A CFP's expertise helps in identifying high-performing funds and making informed switches. This proactive approach aims to maximize your retirement corpus.

Final Thoughts
Your current NPS allocation has provided decent returns, but there’s potential for improvement. Evaluating your funds' performance and considering actively managed options can enhance your retirement savings.

With a strategic approach and professional guidance, you can optimize your NPS investments for a secure and comfortable retirement.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Ramalingam

Ramalingam Kalirajan  |8626 Answers  |Ask -

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

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17th Oct - 2024 Dear Sir, I am a self employed 51 year old male having a combined corpus of 1 cr including my wife in Mutual funds. My wife is a homemaker & have 2 sons both are unmarried and are working in pvt firms. I also have various LIC Term Policies , Endowement , Jeevan Saral & Jeevan Anand policies. Now, for my retirement plan for getting a fixed income as a pension, I am thinking of going for HDFC LIFE GURANTEE WEALTH PLUS Plan which has a premium of Rupees 5 Lakh annually which is to be paid for 12 years for which I would start getting a Fixed income of Rs. 7,12,000/- annually. Besides the above plan I also intend to start SWP of the Mutal Fund Corpus which we have from the age of 65 years. Kindly give your valuable advice on this, and suggest if we can have something better than this. Thanking You, Narender Sharma
Ans: You and your wife currently hold Rs 1 crore in mutual funds. It’s wise to have this corpus growing for retirement and to consider a Systematic Withdrawal Plan (SWP) after reaching 65.

An SWP from mutual funds can give flexibility, especially if spread across diversified funds. You’ll be able to generate steady income while keeping funds in growth-oriented investments, which could continue compounding.

LIC Policies Evaluation

You have various LIC policies, including Term, Endowment, Jeevan Saral, and Jeevan Anand. Traditional policies like these often carry lower returns, as they focus on insurance rather than investment growth.

Term plans are valuable, as they provide substantial coverage at lower costs. But investment-oriented policies like Endowment and Jeevan plans generally yield low returns, around 4-6%, which may not be ideal for retirement planning.

If these plans have served their purpose for insurance cover, consider surrendering or partially withdrawing them, reinvesting in growth-oriented assets, such as mutual funds, for better wealth accumulation.

Evaluation of HDFC Life Guarantee Wealth Plus Plan
HDFC Life Guarantee Wealth Plus is a structured ULIP plan offering guaranteed income after the premium payment period. However, ULIPs often have high fees and limited growth compared to mutual funds. Also, locking Rs 5 lakh annually for 12 years might affect cash flow flexibility.

Drawbacks of ULIP-Based Plans

High Charges: Premium allocation, policy administration, and fund management fees reduce the net return.

Limited Growth Potential: ULIPs, due to costs, generally underperform compared to mutual funds in terms of returns.

Liquidity Constraints: Premiums are locked for the initial 5 years, limiting early access.

Suggested Approach to Retirement Income Planning
1. Systematic Withdrawal Plan (SWP) for Mutual Funds

A well-planned SWP from a diversified mutual fund corpus provides stable monthly or annual income while allowing capital appreciation.

Mutual funds, particularly those actively managed by professional fund managers, have the potential for inflation-adjusted returns.

2. Investment in Balanced Mutual Funds or Monthly Income Plans (MIPs)

Balanced or hybrid mutual funds can provide regular income and are managed to achieve balanced growth, considering both equity and debt.

MIPs, with a focus on debt and a small equity component, provide monthly or quarterly income options and have tax benefits under the new capital gains tax structure:

For equity, Long Term Capital Gains (LTCG) above Rs 1.25 lakh are taxed at 12.5%.
Short Term Capital Gains (STCG) on debt are taxed as per your income tax slab, while LTCG are also taxed as per your slab.
Ensuring Flexibility and Growth
Avoid ULIP for Retirement

As a retirement plan, ULIPs offer limited flexibility in withdrawals and returns, especially when compared with mutual funds. Since liquidity and growth are vital for retirement, consider avoiding ULIPs like HDFC Life Guarantee Wealth Plus.
Maintain a Balanced Investment Strategy

With a balanced approach across mutual funds and PPF, you can achieve income stability, growth, and low-risk liquidity.
Final Insights
Reviewing your LIC policies for potential reinvestment can yield better retirement outcomes.

Consider structured withdrawals from mutual funds or monthly income plans for sustainable retirement income.

ULIPs may not be the best retirement income option due to high costs and inflexibility.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

..Read more

Milind

Milind Vadjikar  |1238 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Feb 10, 2025

Asked by Anonymous - Feb 10, 2025Hindi
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I am 51 single, divorced and have one little sister who is 32. Recently I lost my job, and I am not in the mood to search for a new one. I am in the process of making arrangement to fulfill my monthly needs. I am holding the NPS which has a small corpus of 5 lacs in tier 1 and 45k in tier 2. Now I want to completely exit from the NPS. Now I must compulsorily accept the 20% withdrawal and 80% annuity. I have a few queries below. 1. Should I consider buying 100% annuity. 20% withdrawal does not make sense 2. Should I consider putting 1.5 lacs more to enhance the annuity (The corpus will become 7 lacs approx.). 3. Should I consider taking out the annuity on a yearly basis (Please explain Its pros and cons), since it offers more benefit. 4. Should I consider the Shriram life insurance. 5. Will it be safe to consider Shriram life insurance for life long future annuity. It offers the highest annuity. 6. Should I consider Annuity for Life with ROP - Subscriber will get annuity for lifetime and on death of the Subscriber, payment of annuity ceases & 100% of the purchase price will be returned to the nominee(s). The annual offer is 49,063.00 (7.01%) 7. Should I consider Annuity for Life without ROP - Subscriber will get annuity for lifetime and on death of the Subscriber, payment of annuity ceases, and no further amount will be payable. The annual offer is 58,112.00 (8.30%)
Ans: Hello;

Point wise answers to your queries as given below:

1. Yes.
2. Yes.
3. If you do monthly annuity the rate will be lower but you get monthly payouts. In yearly the rate will higher but only one shot payment per year so it depends on your preference.

4. Cannot comment on suitability of xyz firm.

5. Consider an insurer which has good capital adequacy, growing profitable business, preferably listed, reputation of the owner/group apart from decent annuity rates on offer.

6 & 7. My suggestion would be to opt for annuity for life with ROP to your nominee. Ultimately it is your call.

Please have adequate healthcare insurance cover.

Best wishes;

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Ramalingam

Ramalingam Kalirajan  |8626 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 31, 2025

Asked by Anonymous - May 31, 2025
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Sir, I am 57 years old and working in a private company with salary of Rs.81,000/month. I have purchased three Max life life gain-20 policy insurances each with Rs. 50000 premiums for 6 years pay (Total Rs.9 Lakhs) (2012-2018). Purchased policy of one-time lumpsum LIC Jeevan shanti pension plan for Rs.10 Lakhs and the 1st annuity payment of Rs. 10,054/month starts from year 2029. Also invested Rs. 8 Lakhs in Post office pension plan of 5 years which I am continuing it every 5 years where i get nearly Rs.5000/month. I have one more Max life guaranteed monthly income plan of 6 pay premium of 1,15,458/year which is completed in 2018 and started getting pension for first five years Rs.5000/month and then from 6th year getting Rs.9400/month pension. It will end in 2029. Now I have purchased in HDFC Guaranteed Pension Plan for Rs. 10 Lakhs for 5 five years with premium of Rs.2 Lakhs per year where I have paid 1st premium in 2024. This will give annuity of Rs. 94,599/year i.e, Rs.7883/month after 6 years (year 2029 onwards). I have FDs of Rs. 21 Lakhs which I am renewing it every year which I cannot touch as it is meant for my 2 children. My monthly expenditure is Rs.35,000 since I am staying small city. Please suggest me how can I manage to get a monthly pension of Rs. 40,000 when I quit the job at the age 61 (year 2029). Thank you
Ans: You have made many thoughtful financial decisions. Let us now work together to align your investments to ensure a regular income of Rs. 40,000 per month from age 61 (year 2029).

Here is a 360-degree detailed plan structured under clear sub-headings, as per your request.

 
1. Understanding Your Current Situation

Your age is 57. You have 4 more working years.

 

Your current income is Rs. 81,000 per month.

 

Your monthly expenses are Rs. 35,000. You are financially disciplined.

 

You already have pension sources planned post-2029.

 

You do not want to touch your Rs. 21 lakh FD corpus. It is for your children.

 

Your goal is to generate Rs. 40,000/month from age 61. You seek certainty and consistency.

 

You have invested in both insurance and pension products. Most are non-market linked.

 
2. Summary of Pension Flows from 2029

Let’s break down what income you are expected to receive starting 2029:

 

LIC annuity: Rs. 10,054 per month

 

Post Office pension: Rs. 5,000 per month (if continued)

 

Max Life Guaranteed Monthly Income Plan: Rs. 9,400 per month (till 2029, so not helpful after)

 

HDFC Pension Plan: Rs. 7,883 per month

 

Total confirmed pension starting 2029: Rs. 22,937 per month

 

Gap to reach Rs. 40,000 per month: Rs. 17,000 approx.

 
So, we need to plan how to fill this Rs. 17,000 shortfall.

 
3. Insurance Policies Review

You have 3 traditional Max Life Life Gain-20 plans. Total premium: Rs. 9 lakhs.

 

These are low return, low flexibility products.

 

They are mostly insurance-cum-investment products.

 

Such plans yield 4% to 5% returns over long term. Not ideal for income generation.

 
Suggestion: You have already completed all premiums. It is not advisable to surrender them now. You can wait for maturity. Then, reinvest maturity amount in mutual funds for monthly income.

 
4. Gaps in Income from 2029

Let us now build strategy to generate extra Rs. 17,000 per month post 2029.

 

You have 4 more years before retirement. These are crucial for wealth building.

 

Let us identify available surplus each month. Your income is Rs. 81,000. Expenses are Rs. 35,000.

 

That gives you Rs. 46,000 monthly surplus.

 

From this, set aside some amount for emergency fund and health cover.

 

You can still invest Rs. 30,000 per month comfortably.

 

This amount can be channelised into high-growth investments.

 
5. Investment Strategy Before Retirement

The focus is to build an income-generating portfolio.

 

Allocate Rs. 30,000 per month into equity mutual funds.

 

Prefer actively managed mutual funds. Avoid index funds. Index funds are average performers.

 

Actively managed funds give flexibility and can outperform index. Especially with expert guidance.

 

Invest through regular plans with support of a Mutual Fund Distributor who is also a Certified Financial Planner.

 

Regular plans offer ongoing tracking and guidance. Direct funds lack personalised service.

 

At this age, you need guidance more than saving few rupees on commissions.

 

Use combination of Large Cap, Flexi Cap and Balanced Advantage Funds.

 

These funds suit your risk profile and retirement timeline.

 

Continue SIPs till 2029. Build corpus.

 

From 2029, use SWP (Systematic Withdrawal Plan) for monthly income.

 

This can generate the extra Rs. 17,000 you need.

 
6. SWP Strategy for Post-Retirement Income

SWP (Systematic Withdrawal Plan) is ideal for retirement income.

 

You can redeem small fixed amounts monthly.

 

Your money remains invested and continues to grow.

 

This provides regular income + capital appreciation.

 

SWP is more tax-efficient than interest income.

 

With mutual fund taxation, long-term capital gains up to Rs. 1.25 lakh is tax-free.

 

Above this limit, taxed at only 12.5%.

 

Plan withdrawals in such a way to remain tax-efficient.

 

This gives much better returns than traditional pension plans.

 
7. FDs for Children – Do Not Touch

You have Rs. 21 lakhs in FDs for children. This is a wise allocation.

 

Do not disturb this amount.

 

Just keep renewing annually.

 

If needed, reinvest maturity into debt mutual funds for better returns.

 

But ensure the capital remains safe.

 
8. Other Points to Consider

Review health insurance. Ensure Rs. 10 lakh individual health cover.

 

Also have Rs. 25 lakh family floater cover if dependents exist.

 

Medical costs rise faster than inflation. Health cover is crucial.

 

Keep emergency fund of Rs. 2 lakhs in savings account or liquid funds.

 

Avoid new insurance policies. Focus on wealth creation, not insurance.

 

Avoid annuity products. They offer low returns and lack flexibility.

 

Annuities are taxed fully. Mutual funds are more tax-friendly.

 
9. Timeline and Action Plan

From 2025 to 2029:

 

Invest Rs. 30,000 per month in mutual funds.

 

Review portfolio every 6 months with Certified Financial Planner.

 

Avoid investing in new endowment or pension plans.

 

Build corpus of at least Rs. 22 lakhs to generate Rs. 17,000 monthly post 2029.

 
From 2029 onwards:

 

Use pension income from LIC, Post Office, HDFC plan.

 

Use SWP from mutual fund corpus to get additional Rs. 17,000 per month.

 

Review income annually. Adjust SWP amount as per inflation.

 
10. Asset Allocation Recommendation

Ideal mix for your age and goals:

 

50% Equity Mutual Funds (growth + income via SWP)

 

30% Pension sources (LIC, HDFC, PO schemes)

 

20% Emergency and FD funds (untouched)

 
11. Retirement Income Taxation Insight

Annuity income is fully taxable.

 

SWP income is tax-efficient. Long term capital gains up to Rs. 1.25 lakh is tax-free.

 

Income from mutual funds can be managed to stay within tax slabs.

 

FDs also fully taxable. Use cautiously.

 
12. Final Insights

You are on the right track. You have created solid pension base.

 

Only gap is Rs. 17,000 per month from 2029.

 

This gap can be filled by building equity mutual fund portfolio in next 4 years.

 

Mutual funds offer growth, flexibility and tax-efficiency.

 

Avoid further insurance products. They are not meant for income generation.

 

Track expenses post retirement. Adjust lifestyle if needed.

 

Review investments annually with Certified Financial Planner.

 

Do not go for risky products or unregulated schemes.

 

Stay disciplined. Follow the plan. You will reach your goal peacefully.

 
Best Regards,
 
K. Ramalingam, MBA, CFP
 
Chief Financial Planner,
 
www.holisticinvestment.in
 
https://www.youtube.com/@HolisticInvestment

..Read more

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Ramalingam Kalirajan  |8626 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jun 01, 2025

Asked by Anonymous - Jun 01, 2025
Money
Dear sir, i have mistakenly paid full amount and closed my laon but now i dont have any koney to pay my other EMI and the NBFC is refusing to refund the payment since its showing loan closed at their end. What shall i do.
Ans: I understand you are under stress. Let us take one step at a time and resolve this in a practical, responsible way.

1. Understand the Situation Fully
You had multiple EMIs to manage.

By mistake, you paid off one loan in full.

Now, you have no money left for other EMIs.

The NBFC where you made the full payment is not refunding the extra amount.

They are saying the loan is marked as "closed" in their system.

This needs a calm and systematic resolution. There are still a few strong options left.

2. Immediate Steps You Can Take Today
Check if the extra payment is clearly visible in your account.
– Go through your payment proof and NBFC loan account statement.
– If the payment went above what was due, you have a valid case.

Visit or speak to the NBFC branch again.
– Show them the extra payment record.
– Politely explain this was a mistake.

Request refund under "excess payment" grounds.
– If the loan was closed early due to overpayment, NBFC may still refund surplus.
– Submit a written request for refund and get an acknowledgment.

Check their grievance redressal mechanism.
– Every NBFC has a nodal officer or escalation contact.
– If the branch does not help, write to higher authority.

Send a written complaint by email or registered post.
– Clearly mention loan number, payment date, and your request.
– Keep a copy for yourself.

3. Escalate the Matter if No Response in 7 Working Days
File a complaint on the NBFC’s website (grievance section).

After that, go to the RBI’s CMS (Complaint Management System):
– https://cms.rbi.org.in

You can file a complaint if:
– Your loan account was overpaid.
– You requested refund.
– NBFC has not responded in time.

RBI’s system allows complaint against NBFCs and banks.

4. What to Do About Your Other EMIs Now
Inform other lenders before default.
– Call or write to other lenders.
– Explain the situation in brief.
– Request for short-term deferment or one-month moratorium.

Lenders may allow one missed EMI without penalty if you have a good repayment record.
– Ask them to reschedule EMI or shift the due date.

If delay is certain, request a 3-month EMI break with written communication.
– This avoids legal notices or credit score impact.

5. If Situation Becomes Too Tight
Ask for support from your employer if possible.
– Request for salary advance or short-term loan.
– Even a Rs. 50,000 support can help you meet urgent EMI.

Check if any FD, gold, or savings can be used.
– Gold loans are cheaper and quicker to process.
– Only do this for urgent EMI dues, not for regular lifestyle.

6. Plan Forward to Avoid This in Future
Use auto debit or standing instruction for loans.
– Manual payments often lead to errors or missed payments.

Always keep 1 month EMI buffer in your account.
– This avoids sudden cash gaps.

Use a loan tracker sheet to monitor all your EMIs monthly.
– A simple Excel sheet or app can help.

Set SMS alerts or reminders for each EMI due date.

Don’t pay loan closure amount without checking final settlement letter.
– Ask for loan closure quote from NBFC before making full payment.

7. You May Still Recover the Overpaid Amount
If excess money is paid beyond the loan balance, it is refundable.

NBFC must account for it.

Even if the system says "closed", your transaction can be traced.

You must push this through their grievance officer and escalate if needed.

Stay polite but firm in all communication.

Finally
You made a mistake — but it can be corrected.

Don't panic. Don’t miss all EMIs without trying alternatives.

Take control of the situation through records and clear requests.

Reach out to RBI CMS if NBFC does not respond.

Meanwhile, protect your credit score by speaking to other lenders in time.

It’s a short-term setback, not a permanent problem.

This will pass. Just keep calm and act step by step.

You’re doing the right thing by asking for help and acting early.

?
Best Regards,

K. Ramalingam, MBA, CFP,
Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

Ramalingam

Ramalingam Kalirajan  |8626 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jun 01, 2025

Asked by Anonymous - Jun 01, 2025
Money
Hello Sir I am 40 with 150 cr in assets (5% liquid, rest real estate) and 10 lac monthly income from business. Have 1 daughter who is 6, when should i retire and how should i plan ahead financially. What should/could be my spending pattern ? I live pretty modestly as of now. My expenses are 1.5 lac/month ( including school fee and car emi) Thanks
Ans: You have built a strong foundation.

Rs. 150 crore in assets at age 40 is a big milestone.

Rs. 10 lakh monthly income from business is a very good cash flow.

Your modest monthly expense of Rs. 1.5 lakh is very reasonable.

Your money habits show discipline, simplicity, and clarity.

You are well-positioned to grow further with a proper structure.

Let’s plan ahead in a complete, 360-degree manner.

We will now look at each area of your financial life.

1. Understanding Your Current Financial Strength

You own assets worth Rs. 150 crore.

95% of it is in real estate, only 5% is liquid.

You earn Rs. 10 lakh monthly through business.

Your spending is Rs. 1.5 lakh per month.

You have a daughter who is 6 years old.

Your car loan EMI is included in your current expenses.

This is a strong position, but not yet balanced.

2. Maintain a Balance Between Liquid and Non-Liquid Assets

Your current portfolio is heavy in real estate.

Real estate is illiquid. It takes time to sell.

It is also difficult to generate regular cash flow from property.

Future maintenance costs and taxes reduce net gains.

Aim to increase your liquid asset share gradually.

At least 20%-30% of your wealth should be in liquid form.

That helps during emergencies or new opportunities.

Do this in a phased manner over 3 to 5 years.

3. Create a Strong Emergency Reserve

You may not need an emergency fund for daily needs.

But business income can fluctuate sometimes.

Unexpected health or family emergencies may arise.

Set aside at least Rs. 25–30 lakh in liquid form.

Use short-term debt mutual funds or savings instruments.

This should not be touched for investing or spending.

Review the emergency fund every year and top it up.

4. Fix a Personal Budget Framework

Income is Rs. 10 lakh per month.

Spending is Rs. 1.5 lakh per month.

That’s just 15% of your income, which is great.

Keep lifestyle inflation under 5% per year.

Avoid sudden jumps in spending even if income rises.

Save and invest at least 50% of your income every month.

This helps you reach bigger goals comfortably.

5. Education Plan for Your Daughter

Your daughter is just 6 years old now.

Higher education may cost Rs. 1–2 crore in 12–15 years.

Start a separate investment plan only for her.

Use mutual funds for long-term compounding.

A mix of large-cap, flexi-cap, and mid-cap funds can help.

Invest systematically every month towards her goal.

Track progress every year and adjust as needed.

6. Plan Your Own Retirement Early

You are financially free already.

You can choose to retire anytime after 50.

You may continue business if it brings joy.

Or retire early and do something meaningful.

Retirement is not about stopping work but choosing freedom.

Estimate your retirement lifestyle cost in today’s value.

Multiply by expected years in retirement.

Plan your corpus accordingly with growth-oriented funds.

Keep reviewing this every two years.

7. Shift From Real Estate to Financial Assets Gradually

Real estate doesn’t give regular income easily.

Capital growth is also very slow and uncertain now.

Selling real estate is difficult and slow.

Start liquidating less-used real estate in phases.

Don’t sell all at once, spread it over years.

Reinvest proceeds in mutual funds and bonds.

That creates regular income and better flexibility.

8. Maintain a Simple Core Portfolio

Focus more on high-quality actively managed mutual funds.

Direct funds may look cheaper, but no expert support.

Regular funds through a Certified Financial Planner give full guidance.

MFDs with CFP credentials give constant monitoring and support.

Active funds can beat inflation and market returns better.

Avoid index funds as they only match the market.

Index funds don’t protect during market falls.

Actively managed funds can rebalance and reduce losses.

Choose fund categories based on your goals.

Use SIPs and lumpsum in a balanced way.

9. Tax-Efficient Strategies for Your Income and Investments

Your income will attract higher income tax.

You can split income across family members through smart planning.

Invest in tax-efficient instruments.

Avoid too much FD interest in your own name.

Use mutual funds for long-term tax efficiency.

LTCG from equity funds above Rs. 1.25 lakh is taxed at 12.5%.

STCG is taxed at 20%.

Debt fund gains are taxed as per your slab.

So asset choice impacts your tax outgo.

10. Have a Health and Life Cover in Place

You are young, but health risks can appear anytime.

Get a comprehensive family floater health cover.

Add top-up or super-top-up for large expenses.

Take a simple term life cover if any financial dependents.

ULIPs or investment-based insurance plans are not useful.

If already holding such plans, consider surrendering.

Reinvest the proceeds into mutual funds for better growth.

11. Secure Your Estate and Create a Will

You own multiple large assets.

Legal clarity is very important.

Prepare a clear will with proper asset distribution.

Avoid confusion and future disputes.

If assets are very large or complex, set up a trust.

Review your estate plan every 5 years.

Keep nominee names updated across all investments.

12. Plan for Lifestyle Inflation and Business Risk

Expenses today are low. But they will rise slowly.

Factor in lifestyle upgrades, child needs, and inflation.

Business income can be uncertain in the long term.

Start preparing for a passive income portfolio now.

Allocate part of business profits to long-term investments.

Create multiple sources of income for safety.

13. Document Your Finances and Share With Family

Maintain a full record of your investments.

Document policies, FDs, mutual funds, and property details.

Share access and instructions with your spouse or close family.

Train your spouse to handle basic financial tasks.

This avoids confusion in emergencies.

14. Regular Financial Health Check-Up

Have a review meeting once a year.

See if goals are on track.

Check asset allocation and rebalance as needed.

Reassess insurance and emergency needs.

Adjust investments based on business growth or expenses.

A Certified Financial Planner can guide you through this.

Finally

You are already financially independent at 40.

You can retire early, or choose to keep working joyfully.

You have the ability to live with peace and flexibility.

But wealth preservation is as important as wealth creation.

Plan your child’s future with care and attention.

Avoid unnecessary risks in real estate or unregulated products.

Grow your liquid assets and create a balanced portfolio.

Keep your taxes low and your peace of mind high.

Take support from a Certified Financial Planner.

And do regular reviews to stay updated.

You have done very well. Now is the time to plan smartly ahead.

Live with purpose, peace, and prosperity.

?
Best Regards,

K. Ramalingam, MBA, CFP,
Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

Ramalingam

Ramalingam Kalirajan  |8626 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jun 01, 2025

Money
I have an own house and 60 lakhs in FD and a monthly rd of 1 lakh per month ... My in hand salary after paying RD and other stuff is 75000 .... I am a government servant and want to grow my wealth to around 5 crores in 10 years... My age is 40 now and will retire in another 20 years
Ans: You have a strong financial base. You own a house, have Rs. 60 lakhs in fixed deposits, and invest Rs. 1 lakh monthly in a recurring deposit. After these commitments, you have Rs. 75,000 left each month. As a government employee aged 40, aiming for Rs. 5 crores in 10 years is ambitious but achievable with the right strategy.

Let's break down a comprehensive plan to help you reach your goal.

1. Assessing Your Current Financial Position

Fixed Deposits (FDs): Rs. 60 lakhs in FDs provide safety but offer limited growth due to lower interest rates.

Recurring Deposit (RD): Investing Rs. 1 lakh monthly in RD is commendable, but RDs also offer modest returns.

Monthly Surplus: Rs. 75,000 remains after RD and other expenses, which can be strategically utilized.

2. Understanding the Growth Potential

FDs and RDs: Typically offer 5-7% annual returns, which may not suffice to reach Rs. 5 crores in 10 years.

Equity Investments: Historically, equity investments have provided higher returns, averaging around 12-15% annually over the long term.

3. Strategic Asset Allocation

To achieve higher returns, consider diversifying your investments:

Equity Mutual Funds: Allocate a significant portion to equity mutual funds for potential higher returns.

Debt Instruments: Maintain a portion in debt instruments for stability and liquidity.

Emergency Fund: Ensure you have an emergency fund covering 6-12 months of expenses.

4. Utilizing Monthly Surplus Effectively

With Rs. 75,000 available monthly:

Systematic Investment Plan (SIP): Start a SIP in equity mutual funds with a portion of this surplus.

Step-Up SIP: Consider increasing your SIP amount annually to accelerate growth.

5. Reviewing and Adjusting RD Contributions

RD vs. SIP: Evaluate the returns from your RD against potential SIP returns. Redirecting some RD contributions to SIPs might offer better growth.

6. Tax Efficiency

Tax-Saving Instruments: Utilize tax-saving options under Section 80C, such as Equity-Linked Savings Schemes (ELSS).

Capital Gains Tax: Be aware of the tax implications on mutual fund returns and plan accordingly.

7. Regular Portfolio Review

Annual Review: Assess your investment portfolio annually to ensure alignment with your goals.

Rebalancing: Adjust your asset allocation based on market performance and personal circumstances.

8. Professional Guidance

Certified Financial Planner (CFP): Consult a CFP to tailor an investment strategy suited to your risk tolerance and goals.

9. Risk Management

Insurance: Ensure adequate life and health insurance coverage to protect your financial plan.

Diversification: Spread investments across various sectors and instruments to mitigate risks.

10. Staying Informed and Disciplined

Financial Literacy: Continuously educate yourself about investment options and market trends.

Discipline: Maintain consistent investment habits and avoid impulsive financial decisions.

Final Insights

Achieving Rs. 5 crores in 10 years is challenging but possible with disciplined investing, strategic asset allocation, and regular portfolio reviews. By leveraging your current financial position and making informed investment choices, you can work towards your goal effectively.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

Ramalingam

Ramalingam Kalirajan  |8626 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jun 01, 2025

Asked by Anonymous - Jun 01, 2025
Money
I am 37 year old and lives in pune. I have 4 years child and my parent are depends on me. I earn 1lack monthly. I bought flat in 2020 here is my expenses. 25 k HOUSE EMI, 20K SIP, 15K BC, and 10k pocket money to my parent .They prefer tobstay at village. 10k Grocery and household chores expenses to pune home. I incurred 3 to 5k miscellaneous expenses. I couldn't save emergency fund yet and i end up with 0 saving. I am tied up with my daily work monday to frieday. I am looking for extra income over the weekend. No success yet. Please guide me, How will i upliftvmy financial conditions.
Ans: You're trying your best. That is the first step. Let’s now move forward with a structured plan to uplift your financial health.

Below is a full assessment with action steps.

1. Understand Your Current Financial Flow

Your income is Rs. 1,00,000 per month. That is a strong start.

Your fixed obligations are:

  • Rs. 25,000 – House EMI
  
  • Rs. 20,000 – SIP investments
  
  • Rs. 15,000 – BC (chit fund)
  
  • Rs. 10,000 – Parents’ support
  
  • Rs. 10,000 – Grocery and chores
  
  • Rs. 3,000 to 5,000 – Miscellaneous

You are left with almost nothing. That needs fixing urgently.

2. Respect Your Existing Efforts

You have no unnecessary spending. That is rare and praiseworthy.

Supporting parents and a child along with EMIs shows responsibility.

SIPs of Rs. 20,000 monthly reflect high financial discipline.

Your commitment is strong. You only need better structure.

3. Plug The Leaks

Review the Rs. 15,000 chit fund contribution.

  • Is it giving real, dependable returns?

  
  • Chit funds are risky and illiquid.

  
  • You may reduce or stop this temporarily.

  
  • Reallocate some amount to build emergency fund.

Track your miscellaneous expenses closely.

  • Rs. 3,000 to 5,000 is a wide range.

  
  • Write down every rupee spent for 30 days.

  
  • You will find avoidable leaks.

Pocket money to parents is noble.

  • Can you reduce to Rs. 8,000 temporarily?

  
  • Discuss openly with them. They may understand.

4. Emergency Fund – Absolute Priority

You have none right now. That is risky.

Start with just Rs. 2,000 a month for it.

Slowly raise it to Rs. 5,000 monthly.

Keep it in liquid mutual funds or sweep-in FD.

Target 6 months of expenses saved.

5. SIP – Continue but Optimise

Rs. 20,000 SIP is excellent, but over-stretching.

Consider trimming SIP to Rs. 15,000 temporarily.

Maintain funds with good track record.

Prefer actively managed funds, not index funds.

Index funds look cheap but are not guided.

Actively managed funds have expert fund managers.

They adapt better to market changes.

Also, invest via regular plans through CFP-guided MFD.

Direct funds may look low-cost but lack advice.

A Certified Financial Planner ensures alignment with your goals.

You avoid wrong fund selection or untimely exit.

6. Weekend Income Ideas – Realistic Steps

You are already working hard Monday to Friday.

Choose light, flexible weekend work only.

Here are some options:

  • Online tutoring for school subjects.

  
  • Content writing or blog summarising.

  
  • Paid online surveys or transcription.

  
  • Voice-over for regional content.

  
  • Teach spoken English to kids or adults.

  
  • Freelance admin or data entry work.

Avoid any scheme asking for upfront money.

Start small. Give 2 hours only per weekend.

Add more hours only if manageable.

Target Rs. 3,000 to Rs. 5,000 monthly extra.

7. Insurance and Protection – Check Now

Term insurance is must if not yet taken.

Cover should be 15-20 times your salary.

Don’t mix insurance with investment.

Avoid ULIPs, endowments, money-back plans.

Use pure term plan only.

Health insurance of minimum Rs. 5 lakhs is needed.

Include parents if not yet covered.

Hospital expenses can kill savings quickly.

8. Plan for the Child – Be Early

Your child is 4 now. Good time to start.

Start SIPs for child’s higher education.

Even Rs. 2,000 per month is good now.

Increase slowly every year.

Avoid child ULIP plans. Go for mutual funds.

9. Your Own Retirement – Don’t Delay

Retirement seems far, but planning should begin now.

SIPs can be split for retirement and child’s needs.

Build long-term funds that grow steadily.

Rebalance your portfolio every year with CFP help.

10. Emotional Strength – Vital But Ignored

You are handling work, parents, child, and finances.

That is a lot for anyone.

Take short breaks every week for yourself.

Even 20 minutes daily silence helps mental health.

A peaceful mind will bring better decisions.

11. Set a Weekly Routine for Financial Planning

Pick Sunday morning or evening.

Spend 30 minutes reviewing all money matters.

Note down income, expenses, targets.

Involve your spouse if possible.

Use mobile apps to track your spendings.

This habit can change your financial life.

12. Annual Review – Mandatory Every Year

Every January or April, review full picture.

Assess how much saved, invested, and grown.

Take help of a Certified Financial Planner.

He/she will guide on rebalancing and tax planning.

Realigning yearly avoids long-term mistakes.

13. Tax Planning – Use All Legal Benefits

Check if you are using Sec 80C fully.

Also use 80D for medical insurance premium.

Avoid investing just to save tax.

Make all investments with goal alignment.

14. Goal Chart – Must Prepare One

Note all goals: emergency fund, education, retirement.

Put value and time period for each goal.

Split current SIPs based on goal priority.

Keep one SIP for each long-term goal.

15. Think 10 Years Ahead – Not Just This Month

What you save today grows 5 times in 10 years.

Even Rs. 5,000 monthly invested well makes big difference.

Short pain gives long comfort.

16. Be Open to Guidance

You don’t need to do this alone.

Take help from Certified Financial Planner.

Avoid friends’ or relatives’ advice.

Stay committed to your own plan.

17. Use Your Weekends as “Wealth-End”

2 hours of extra income on weekends is enough.

But use Sunday evening for reviewing your finances.

18. Social Pressure – Say “No” with Pride

Avoid unnecessary functions, gifts, status spendings.

True peace comes from inner stability, not others’ praise.

19. Focus Areas for You Now

Cut back chit fund, SIP, parent support slightly.

Build emergency fund first.

Earn Rs. 3,000 extra from weekends.

Stay focused for 6 months. Results will follow.

Finally

Your income is decent. Your intentions are pure.

You are already doing 50% right.

You only need to redirect and prioritise better.

Build emergency fund. Reduce pressure on yourself.

Give yourself 1 year to rebuild. Not 1 month.

Stay away from shortcuts. No trading. No gambling.

Let your money grow steadily and peacefully.

You are already on the right track. Just fine-tune.

Stay committed. Your future self will thank you.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

Ramalingam

Ramalingam Kalirajan  |8626 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jun 01, 2025

Asked by Anonymous - Jun 01, 2025
Money
I have a loan of 9 lakhs, monthly emi 26k, trying to pay with credit cards and taken from others, my salary goes to take care of my family needs only, this 10 lakhs is additional for which no source of income, credit card bills are getting another burden to me, max I can clear EMI of loan for another 2months with extra 2.5lakhs credit card due!! Please suggest me a way to come out from this debt trap! Friends & relatives are not going to help! I alone should struggle to clear these loans! Already working for more than 12hours for my livelihood, so no time to work extra, what to do? How to clear the loans?
Ans: You are carrying a huge burden. Still, you are not giving up. That shows strength.

Now, we need a 360-degree plan to escape this debt trap.

This answer is detailed, practical, and designed to rebuild your financial life.

1. Understand Your Current Debt Burden

Rs. 9 lakhs loan with Rs. 26,000 monthly EMI.

Rs. 2.5 lakhs credit card dues added pressure.

No savings. No help from others.

You are using credit cards to pay EMIs.

This cycle is dangerous and needs to stop now.

2. Respect Your Courage First

You are working over 12 hours every day.

You are managing home needs and family.

Even in this pressure, you are still standing.

You deserve appreciation for not running away.

That self-discipline is your biggest asset.

3. The Truth – You Cannot Continue Like This

This debt trap will grow every month.

Credit card interest is above 36% yearly.

Paying EMI from cards creates bigger problem.

In 2 months, situation will get worse.

4. Take Control – Accept Reality First

You cannot solve this by earning more.

You have no time to work extra.

You must now reset your financial structure.

5. Step One – STOP Using Credit Cards Immediately

Do not swipe them again for anything.

Do not use cards to pay EMI.

Do not pay minimum due only. Pay in full if possible.

6. Step Two – List All Your Debts

Make a simple sheet with 3 columns:

  • Amount you owe
  
  • Monthly EMI or bill
  
  • Interest rate

List loan, credit cards, other dues separately.

This gives you full picture of your debt.

7. Step Three – Prioritise Debt Based on Risk

Credit cards come first – they have highest interest.

Unsecured loans come next.

Family debts come last.

8. Step Four – Approach the Lender for Loan Restructuring

Contact the bank or NBFC where you have loan.

Ask for “restructuring” under RBI’s personal loan scheme.

They may allow:

  • Lower EMI for longer term
  
  • Temporary EMI holiday for few months

You need to write a request letter to them.

Mention your financial stress and genuine intention to repay.

9. Step Five – Convert Credit Card to Personal Loan

Most banks allow this.

Convert the Rs. 2.5 lakhs into term loan.

That gives fixed EMI and stops interest growth.

Interest on term loan is lesser than card interest.

10. Step Six – Avoid Minimum Payments on Cards

Paying only minimum keeps the card running.

But interest keeps growing every month.

Within 6 months, amount doubles.

11. Step Seven – STOP Any Fresh Loans

Don’t take new loans to repay old ones.

This is not a solution. This is poison.

12. Step Eight – Talk to a Certified Financial Planner

A CFP will guide debt restructuring.

He will suggest repayment plan based on cash flow.

You cannot handle this stress alone.

13. Step Nine – Cut All Non-Essential Expenses

Reduce phone recharge, DTH, fuel usage.

Postpone all festivals, trips, functions, purchases.

Stop all online shopping, gifts, donations temporarily.

14. Step Ten – Pause All Investments for Now

If you are doing SIPs, stop them temporarily.

Your priority now is to clear debts.

SIP can restart later when stable.

15. Step Eleven – Build Emergency Cushion Slowly

Even in tight cash flow, save Rs. 500/month.

Keep in a separate savings account.

This avoids using card for small needs.

16. Emotional Discipline is Now Your Biggest Tool

Say “No” without guilt to social pressure.

Your family must know your full financial truth.

Be honest and take them into confidence.

17. No Shortcuts – Avoid These Traps

Don’t try day trading or crypto schemes.

Don’t fall for quick-money jobs or part-time scams.

Don’t apply for payday loans online.

18. Use Professional Help If Required

There are RBI-registered debt resolution agencies.

They negotiate with banks on your behalf.

They may reduce interest or combine loans.

19. Stay Away from Informal Money Lenders

Never take from local agents or unlicensed lenders.

They can become dangerous if unpaid.

20. Sell Unused Assets If Any

Do you have gold, gadgets, or vehicle?

If not essential, sell to reduce debt.

A temporary sacrifice gives long-term peace.

21. Speak to Employer If Trusted

Some companies offer salary advance or loan.

Check if your HR has such policy.

Keep repayment terms clear and transparent.

22. Review All Bank Accounts

Do you have any FD or RD?

Break it and use it to clear debt.

23. Debt Avalanche Method – Use When Situation Stabilises

Once stable, start paying highest interest loan first.

After that, clear next highest.

24. Inform Lender Before You Default

If you miss EMI, inform bank in writing.

Don’t avoid calls. That worsens credit record.

25. Start Rebuilding Credit Score After 6 Months

Once you close credit card debt, wait 6 months.

Keep one card with Rs. 5,000 limit.

Use it once a month and pay full.

26. Remember – This Pain is Temporary

You are in deep stress today.

But your mindset is strong.

You are ready to act.

That alone can bring you out of this trap.

27. Final Insights

Your life is more valuable than this debt.

You have already proven hard work.

Now you must build financial wisdom.

Stop credit card use immediately.

Speak to lender. Ask for EMI restructuring.

Convert credit card dues into lower-interest loan.

Cut expenses. Postpone luxuries.

Pause investments till loan burden is reduced.

Set a monthly budget. Stick to it.

Don’t give up. Don’t lose hope.

Within 12 months, you can come out.

After that, you will feel proud.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

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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