Sixth Pay Commission: Revised Pay Scales, New Pay Bands decided by Government

After the recommendations of the Sixth Pay Commission, here is list of the final New Pay bands of the Sixth Pay Commission, as listed in the official report of the Sixth Pay Commission. The government has finally taken a decision on the Final New Pay Bands & below is the table showing an indicative details of how much the salaries have changed or increased. Please click on the images to see an enlarged and clear view. Please note that these details are as available on various sources on internet. How much of these perks, arrears and Increments are you elgible to receive depends upon your Pay Band and the salary. You may also check the Online Calculators for Sixth Pay Commission Salary Calculations.



Please refer to these other links for online salary calculators:

General Sixth Pay Commission Salary Hike & Arrears Calculator

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

State Wise Salary Hike details are covered in the links of the article: State Wise Salary Hike Details of Sixth Pay Commission. Please refer to the article and click on your respective state wise link for news and other information.

Links To: Sixth Pay Commission: Perks, Arrears, Increments & Key Points

Sixth Pay Commission: Perks, Arrears, Increments & Key Points

After the recommendations of the Sixth Pay Commission, here is the brief list of Perks, Arrears, Increments & Key Points of the Sixth Pay Commission, as listed in the official report of the Sixth Pay Commission. How much of these perks, arrears and Increments are you elgible to receive depends upon your Pay Band and the salary. You may also check the Online Calculators for Sixth Pay Commission Salary Calculations.


State Wise Salary Hike details are covered in the links of the article: State Wise Salary Hike Details of Sixth Pay Commission. Please refer to the article and click on your respective state wise link for news and other information.

Link To: Revised Pay Scales, New Pay Bands Finalized by the Government

Union Government notified Sixth Pay Commission Friday. Following are some key points after notification.

Government has accepted most of the points but has rejected three recommendations and has put some other contentious issues to be taken up in future.

Pay Band and Grade pay:

* Grade Pay up to PB2 recommended by 6CPC accepted as such.

* Revised Grade pay from PB3 and above. Check New pay band and Grade Pay

* The basic pay drawn as on 1.1.2006 on the existing Fifth CPC pay scales will be multiplied by a factor of 1.86 and then rounded off to next multiple of 10. This will be the pay in the revised running Pay Band. Grade Pay, as approved by the Government, corresponding to the pre-revised pay scale, will then be added to the Pay in the revised Pay Band. The total of pay in the Pay Band and grade pay will be the revised Basic Pay as on 1.1.2006.
* Rate of annual increments will be 3% and the rate of variable increment for high achievers in PB-3 will be 4%.

* There will be a uniform date of annual increment, viz. 1st July of every year. Employees completing 6 months and above in the revised pay structure as on 1st of July will be eligible to be granted the increment. The first increment after fixation of pay on 1.1.2006 in the revised pay structure will be granted on 1.7.2006 for those employees for whom the date of next increment was between 1st July, 2006 to 1st Jan 2007.

DA and other Allowances

* AICPI (IW) with base 2001 may, henceforth, be used for the purpose of calculating DA till it gets revised. The base using the 2001 series works out to be 115.76. Based on this index the revised DA as on Jan-06, July-06, Jan-07, July-07, Jan-08 and July-08 are estimated to be 0%, 3%, 6%, 9%, 12%, and 16% respectively (based on the calculation made as per index - Exact DA rates are yet to be confirmed by the Government).

* “Campus” restriction for grant of Transport Allowance will be removed. Consequently, employees living in campuses will also be eligible for Transport Allowance. Further, Transport Allowance for the employees at the lowest levels will be increased to Rs.600 (from Rs.400) in A-1/A class cities and Rs.400 (from Rs.300) in other towns.

* New TA - Employees drawing grade pay of Rs. 5400 and above will be eligible to receive TA of Rs.3200 and DA thereon (A1/A class cites) and Rs.1600 and DA thereon (other places. Similarly Employees drawing grade pay of Rs.4200 to Rs.4800 will be eligible to receive TA of Rs. Rs.1600 and DA thereon (A1/A class cites) and Rs.800 and DA thereon (other places). Employees drawing grade pay of below Rs. 4200 will be eligible to receive TA of Rs. 600 and DA thereon (A1/A class cites) and Rs.400 and DA thereon (other places).

* City Compensatory Allowance abolished.

* Employess living in X (Earlier classified as A-1), Y (Earlier classified as A, B-1 & B-2), and Z (Earlier classified as C and Unclassified) will be eligible for HRA of 30%, 20% and 10% (on Fixed Pay and Grade Pay) respectively.

* Children Education Allowance and Reimbursement of Tuition Fee are merged and reimbursement of Children Education allowance will be paid upto the maximum of Rs.1000 per child per month subject to a maximum of 2 children. Hostel subsidy will be reimbursed upto the maximum limit of Rs.3000 per month per child. The limits would be automatically raised by 25% every time the Dearness Allowance on the revised pay bands goes up by 50%.

* Cycle Allowance, Washing Allowance, Cash Handling Allowance, Special Allowance, Night Duty Allowance and Split Duty Allowance have been doubled. Similarly, rates of allowances specific to different Ministries/Departments/Organisations not covered in this Report will also be doubled. The rates of these allowances will be increased by 25% every time the Dearness Allowance payable on revised pay scales goes up by 50%.

* All provisions concerning travel under LTC are to be retained except frequency of travel in home town concession (up to three times during the first two blocks of 4 years after joining the service).

* The revised allowances, other than dearness allowance, will be effective from 1st day of September, 2008.

ACP (Assured Career Progression):

* Three upgradations will be granted under Assured Career Progression (ACP) Scheme at 10, 20 and 30 years as per the modified ACP Scheme recommended by the Commission. ACP Scheme will also be applicable to Group A employees.

* Financial upgradation through ACP will be available whenever a person has spent 10 years continuously in the same grade.

* Benefit of pay fixation available at the time of normal promotion shall be allowed at the time of financial upgradations under the scheme. Thus, an increase of 3% of pay and grade pay shall be available as financial upgradation under the scheme.

Other Points accepted by the Government:

* The Commission’s recommendation regarding payment of arrears has been modified to the extent that the arrears will be paid in cash in two instalments – first instalment of 40% during the current financial year (2008-09) and the remaining 60% in the next financial year (2009-10).

* The Government has approved setting up of Anomalies Committees to examine individual, post-specific and cadre-specific anomalies. The Anomalies Committees should endeavour to complete their work in one year.

Recommendations not accepted by the Government in Sixth Pay Commission:

* Liberal ‘severance package’ for those employees who want to leave service without pension with more than 15, but less than 20 years of service.

* Recommendation relating to Holiday Policy that there should only be three closed holidays for Government employees.

* Flexi-hours for women employees and flexi-weeks for employees with disabilities.

Recommendations of Sixth CPC which will be examined separately :

* Recommendation related to Bonus and Over Time Allowance.

* Recommendation related to General Provident Fund for Central Government employees and Central Government Employees Group Insurance Scheme.

* Introduction of Health Insurance Scheme for Central Government employees and pensioners.

Uttar Pradesh UP Sixth Pay Commission Salary Hike

After the recommendations of the Sixth pay Commission, many state government employees are wondering whether they are eligible to receive any hike in the salary or not and whether their respective state government will be kind enough to implement the similar things for their respective state. Here is the link to Highlights of the Sixth pay Commission Report (Opens in a new Window in PDF)

Various State Employees’ Unions have been demanding the implementation of the Sixth Pay Commission recommendations ever since the central government approved the new pay scales for its five million employees.

Fortunately, for the state of Uttar Pradesh UP, the government has given its approval to go for with the recommendations of the Sixth pay Commission.

Uttar Pradesh Chief Minister Mayawati Monday declared in the state assembly that her government would promptly implement the recommendations of the Sixth Pay Commission.

The commission, appointed by the union government, had recently submitted its report to the central government following which it was approved by the union cabinet last week. It is learnt that it was the election year which has forced Mayawati to implement the salary hike recommondations of the the Sixth Pay Commission of the center, otherwise, it is usually a bitter relationship between Mayawati and the center.
"The new pay commission would be brought into force with effect from Dec 1 , though we would implement it with retrospect from Jan 2006", Mayawati said.

She further added: "even though the central government had been indifferent to our repeated request for additional resources and had also flatly refused to concede our demand for a special package of Rs 80000 crore, still we decided to mobilise our own resources to meet the additional burden that the new pay scales would entail."

"While the arrears were estimated at about Rs 14800 crore, the annual burden on the state exchequer would be about Rs 5200 crore", she pointed out.
Here are the direct links for the Salary Calculators on the GConnect Website, for the changes in salary by the Sixth pay Commission Report:

Salary Calculator for Pay band 1 and 2 for Sixth Pay Commission Salary Hike

Salary Calculator for Pay band 3 and above for Sixth Pay Commission Salary Hike

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

Uttarakhand Sixth Pay Commission Salary Hike

After the recommendations of the Sixth pay Commission, many state government employees are wondering whether they are eligible to receive any hike in the salary or not and whether their respective state government will be kind enough to implement the similar things for their respective state. Here is the link to Highlights of the Sixth pay Commission Report (Opens in a new Window in PDF)

Various State Employees’ Unions have been demanding the implementation of the Sixth Pay Commission recommendations ever since the central government approved the new pay scales for its five million employees.

Fortunately, for the state of Uttarakhand, the government has given its approval to go for with the recommendations of the Sixth pay Commission.
The West Bengal government today announced setting up of the state's Fifth Pay Commission for recommending new wage structure for its 10 lakh employees, following the adoption of the sixth pay panel's report by the Centre.
As per the news, The government has constituted a high-powered two-member committee headed by former union petroleum and natural gas secretary Sushil Kumar Tripathi. The other member of the committee was state Finance Secretary Radha Raturi, official sources said here today.

In case the government implements the sixth pay commission with effect from January 1, 2006, it will put an extra burden of Rs 2,500 crore on the state exchequer in terms of arrears. The state will need Rs 810 crore every year.

At present, the state government has 160,000 employees even as 65,000 jobs are lying vacant. In case these posts are filled, the government will require Rs 1,500 crore every year.

The government has come under considerable pressure after the Uttar Pradesh government announced its decision to implement the sixth pay panel recommendations. The state employees are hoping that they will get a hike of 25 per cent.

The main task of the committee will be to devise ways and means for the implementation of the sixth pay commission report in the hill state.
Here are the direct links for the Salary Calculators on the GConnect Website, for the changes in salary by the Sixth pay Commission Report:

Salary Calculator for Pay band 1 and 2 for Sixth Pay Commission Salary Hike

Salary Calculator for Pay band 3 and above for Sixth Pay Commission Salary Hike

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

West Bengal WB Sixth Pay Commission Salary Hike

After the recommendations of the Sixth pay Commission, many state government employees are wondering whether they are eligible to receive any hike in the salary or not and whether their respective state government will be kind enough to implement the similar things for their respective state. Here is the link to Highlights of the Sixth pay Commission Report

Tamilnadu TN Sixth Pay Commission Salary Hike

After the recommendations of the Sixth pay Commission, many state government employees are wondering whether they are eligible to receive any hike in the salary or not and whether their respective state government will be kind enough to implement the similar things for their respective state. Here is the link to Highlights of the Sixth pay Commission Report (Opens in a new Window in PDF)

The Tamil Nadu government Sunday announced huge increases in the salaries of its employees ranging between Rs.1,774 and Rs.7,300 per month.

General Sixth Pay Commission Salary Hike & Arrears Calculator

Tamilnadu TN Sixth Pay Commission Salary Hike & Arrears Calculator

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

How much salary hike will you get? Continue to Tamilnadu TN Sixth Pay Commission Recommendations Pay Hike Details

Various State Employees’ Unions have been demanding the implementation of the Sixth Pay Commission recommendations ever since the central government approved the new pay scales for its five million employees.

Fortunately, for the state of Tamilnadu TN, the government has given its approval to go for with the recommendations of the Sixth pay Commission.

Tamil Nadu Chief Minister M.Karunanidhi also announced that the over 220,000 noon meal scheme workers would get a hike in salaries as they are being brought under special time scale of pay. He said the workers would be covered by a special pension scheme. This would be effective from September 15 and would cost the State Government Rs.200 crores.

This was done on Saturday evening. As we had reported earlier, about a pre-election promise by DMK Chief M Karunanidhi, the TN state has agreed on implementing the recommendations of the Sixth pay Commission in Tamilnadu. The biggest benefeciaries are the Higher education teaching staff for whom the pay revision approved by the University Grants Commission (UGC) will be implemented. It will all turn out to be a big profitable salry hike for all the state employees

Here are the Key features and latest salary figures of the Tamilnadu TN Sixth Pay Commission Salary Hike

Latest: Tamilnadu TN Sixth Pay Commission to spend 223Cr: Accept all recommendations

Assam Sixth Pay Commission Salary Hike

After the recommendations of the Sixth pay Commission, many state government employees are wondering whether they are eligible to receive any hike in the salary or not and whether their respective state government will be kind enough to implement the similar things for their respective state. Here is the link to Highlights of the Sixth pay Commission Report (Opens in a new Window in PDF)

Various State Employees’ Unions have been demanding the implementation of the Sixth Pay Commission recommendations ever since the central government approved the new pay scales for its five million employees.

Fortunately, for the state of Assam, the government has given its approval to go for with the recommendations of the Sixth pay Commission.

The Assam Government has set up a new pay commission to recommend revision of salaries for its employees, a move bound to make an estimated 500,000 staff happy ahead of the national elections scheduled for early next year, authorities said Sunday. The Sixth Pay Commission, set up Saturday with a former secretary in the Union government Bhaskar Baruah as chairman, is to submit its report within an year, an official statement said. The Commission has four other members, including state Chief Secretary P.C. Sharma.

The state government has also announced its decision to release 10 percent interim relief with retrospective effect from April 1, 2008 for its employees. This will provide state government employees a minimum relief of Rs.250 and a maximum of Rs.1,000 per month.
Here are the direct links for the Salary Calculators on the GConnect Website, for the changes in salary by the Sixth pay Commission Report:

Here is the latest news on Assam Sixth Pay Commission Salary Hike Details & Pay Calculators. Chief Minister Tarun Gogoi has finally declared about the implementations of the Sixth pay Commission in Assam State. See Details of Pay Hike & Salary Calculators

We have the following online calculators available for calculating the pay arrears and the salary along with the pension money. Though the final amount would depend upon the actual things the state implements, the followiing calculators can provide good indications of your new salary and pension:
General Sixth Pay Commission Salary Hike & Arrears Calculator

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

Haryana Sixth Pay Commission Salary Hike

After the recommendations of the Sixth pay Commission, many state government employees are wondering whether they are eligible to receive any hike in the salary or not and whether their respective state government will be kind enough to implement the similar things for their respective state. Here is the link to Highlights of the Sixth pay Commission Report (Opens in a new Window in PDF)

Various State Employees’ Unions have been demanding the implementation of the Sixth Pay Commission recommendations ever since the central government approved the new pay scales for its five million employees.

Fortunately, for the state of Haryana, the government has given its approval to go for with the recommendations of the Sixth pay Commission.

The announcement came within hours after the central government announced the implementation of the 6th pay commission recommendations for central government employees - a 21 percent hike in salaries - from Sep 1.

Haryana has become the first state to announce that it will follow the central pattern on pay increase for government employees.

Hooda made the announcement while addressing the Independence Day function at Palwal, the headquarters of the newly created 21st district of Haryana.

Hooda said a committee headed by Chief Secretary Dharam Vir had been constituted to study the recommendations of the pay commission.

The Haryana government has made a provision of Rs.15.5 billion in the 2008-09 budget for payment of the increase in salary and pension, which is likely to be effected on the recommendation of the 6th Pay Commission.
Here are the direct links for the Salary Calculators on the GConnect Website, for the changes in salary by the Sixth pay Commission Report:

Salary Calculator for Pay band 1 and 2 for Sixth Pay Commission Salary Hike

Salary Calculator for Pay band 3 and above for Sixth Pay Commission Salary Hike

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

Chattisgarh Sixth Pay Commission Salary Hike

After the recommendations of the Sixth pay Commission, many state government employees are wondering whether they are eligible to receive any hike in the salary or not and whether their respective state government will be kind enough to implement the similar things for their respective state. Here is the link to Highlights of the Sixth pay Commission Report (Opens in a new Window in PDF)

Various State Employees’ Unions have been demanding the implementation of the Sixth Pay Commission recommendations ever since the central government approved the new pay scales for its five million employees.

Fortunately, for the state of Chattisgarh, the government has given its approval to go for with the recommendations of the Sixth pay Commission.

The decision came a day after the Officers Joint Forum, the newly formed representative forum of the state government employees, threatened an indefinite strike if the government failed to implement the new pay scales.

“The state has taken a decision in principle to implement the new salary structure, recommended by the Six Pay Commission and approved by the central government,” an official release here said.

About 250,000 employees of the state government will get increased payment with September 2008 salary. Officials say the increased pay scales will cost the state exchequer Rs.12 billion. The employees had earlier struck work on August 21 psoing as a warning to the government.
Here are the direct links for the Salary Calculators on the GConnect Website, for the changes in salary by the Sixth pay Commission Report:

Salary Calculator for Pay band 1 and 2 for Sixth Pay Commission Salary Hike

Salary Calculator for Pay band 3 and above for Sixth Pay Commission Salary Hike

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

Madhya Pradesh MP Sixth Pay Commission Salary Hike

After the recommendations of the Sixth pay Commission, many state government employees are wondering whether they are eligible to receive any hike in the salary or not and whether their respective state government will be kind enough to implement the similar things for their respective state. Here is the link to Highlights of the Sixth pay Commission Report (Opens in a new Window in PDF)

Various State Employees’ Unions have been demanding the implementation of the Sixth Pay Commission recommendations ever since the central government approved the new pay scales for its five million employees.

Fortunately, for the state of Madhya Pradesh MP, the Madhya Pradesh MP government has given its approval to go for with the recommendations of the Sixth pay Commission.

Madhya Pradesh Chief Minister Shivraj Singh Chouhan Wednesday said the state government would implement the Sixth Pay Commission recommendations for its employees soon. Chouhan made the announcement at a convention in the tribal-dominated Khandwa district. The convention was organised to launch a tendu leaf bonus distribution programme.

The implementation of the Pay Commission recommendations will benefit more than 500,000 state employees who would, on an average, see a hike of roughly 30 percent.
How much salary hike can an employee expect after the Sixth Pay Commission implementation in MP?
Here is the latest news that MP will implement Sixth Pay Commission Recommendations.

We have the following online calculators available for calculating the pay arrears and the salary along with the pension money. Though the final amount would depend upon the actual things the state implements, the following calculators can provide good indications of your new salary and pension:
General Sixth Pay Commission Salary Hike & Arrears Calculator

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

Gujarat Sixth Pay Commission Salary Hike

After the recommendations of the Sixth pay Commission, many state government employees are wondering whether they are eligible to receive any hike in the salary or not and whether their respective state government will be kind enough to implement the similar things for their respective state. Here is the link to Highlights of the Sixth pay Commission Report (Opens in a new Window in PDF)

Various State Employees’ Unions have been demanding the implementation of the Sixth Pay Commission recommendations ever since the central government approved the new pay scales for its five million employees.

Fortunately, for the state of Gujarat, the government has given its approval to go for with the recommendations of the Sixth pay Commission.
As per the news, the Gujarat government has finally decided to set up a babus' committee on implications of the Centre's sixth pay commission award to hike employees' salary by 20 per cent for the state.

Following the Cabinet meeting, The Gujarat government spokesperson Jay Narayan Vyas said, "The secretaries' committee will submit its report to the Cabinet sub-committee , formed early this year on what the sixth pay commission may mean to Gujarat." What this means is that there are pretty good chances of implementation of the Sixth pay Commission recommendations, but it will require lot of Bureaucratic Processes in place and hence time.
Vyas also complained that the Gujarat government has still not received "full details" of the sixth pay commission, including what it means to all-India employees.

Last year, when the pay commission was still busy preparing its report , Chief Minister Narendra Modi had demanded from the Centre financial help to ward off the burden on the state exchequer.

Gujarat is one of the states in good financial health. Though the Officials apprehend that fiscal deficit, which stood at 2.16 per cent of the gross state domestic product (GSDP) last year, might rise in case the sixth pay panel is implemented.

With a whopping burden of Rs 2,000 crore per annum, most of the gain from the rise in value-added tax (VAT) and other state taxes' incomes, which comes to Rs 3,100 crore per annum . "We will not be able to pass on the gain for developmental needs in the Centre doesn't help," an official said. In all, 4.87 lakh government employees and 3.13 lakh pensioners are waiting to gain a rise of 20 per cent from the sixth pay panel.

Of these, 3.92 lakh are employees working in government departments in different parts of Gujarat, including teachers in government schools. Then, there are nearly 88,000 employees working in aided institutes and another 6,000 employees in state public sector undertakings.
Here are the direct links for the Salary Calculators on the GConnect Website, for the changes in salary by the Sixth pay Commission Report:

Salary Calculator for Pay band 1 and 2 for Sixth Pay Commission Salary Hike

Salary Calculator for Pay band 3 and above for Sixth Pay Commission Salary Hike

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

Sixth Pay Commission Salary Calculators: State wise Pay Commission Report

The Sixth Pay Commission has come out with its recent report and recommendations.
In my previous article about the Sixth pay Commission Salary Calculators, I had provided some links about Salary Calculators for Sixth pay Commission.


Link To: Revised Pay Scales, New Pay Bands Finalized by the Government

Links To: Sixth Pay Commission: Perks, Arrears, Increments & Key Points

However, anyone still interested in knowing the history of Sixth Pay Commission of India, then Wikipedia has the following article on the Sixth Pay Commission of India. It contains details like formation, officers, and the guidelines.
Here are the direct links for the Salary Calculators as available on varius Websites, for the changes in salary by the Sixth pay Commission Report:

General Sixth Pay Commission Salary Hike & Arrears Calculator

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

Then there are other reports on which states are implementing the recommendations of Sixth Pay Commission:

Madhya Pradesh Chief Minister Shivraj Singh Chouhan Wednesday said the state government would implement the Sixth Pay Commission recommendations for its employees soon (Full details of Madhya Pradesh MP Sixth Pay Commission Salary Hike).

The Chhattisgarh government on Wednesday said it has agreed in principle to implement the Sixth Pay Commission recommendations for the state government employees. (Full details of Chhattisgarh Sixth Pay Commission Salary Hike)

For Sikkim, the Fourth Pay Commission, constituted by the Sikkim government earlier this month, today said it would make the Sixth Central Pay Commission recommendations (CPC) as its basis for working out the instructions and directions of the state.

The Uttarakhand Government has constituted a two-member committee headed by fomer Union Petroleum and Natural Gas Secretary Sushil Kumar Tripathy and Finance Secretary Radha Raturi to implement the recommendations of the Sixth Pay Commission.(Full details of Uttarakhand Sixth Pay Commission Salary Hike)

The Tamil Nadu TNGovernment on August 20th, has constituted a three-member official panel to examine the recommendations of the Sixth Pay Commission, announced by the Centre, for extending the same to the State Government employees. (Full details of Tamil Nadu TN Sixth Pay Commission Salary Hike)

The Gujarat government has decided to set up a babus' committee on implications of the Centre's sixth pay commission award to hike employees' salary. (Full details of Gujarat Sixth Pay Commission Salary Hike)

Pondicherry government welcomed the report of the Sixth Pay Commission approved by the Centre for upward revision of wages for government employees.

Uttar Pradesh UP to implement Sixth Pay Commision - despite the bad relations between Mayawati and the Central government. (Full details of Uttar Pradesh UP Sixth Pay Commission Salary Hike)

The Haryana Chief Minister, Mr Bhupinder Singh Hooda on Friday said the 6th Pay Commission recommendations will be implemented in the state (Full details of Haryana Sixth Pay Commission Salary Hike)

West Bengal WB government will set up the fifth pay commission as it believes that the pay revision at the state level was necessary following the effect of the Sixth Pay Commission at the Centre (Full details of West Bengal WB Sixth Pay Commission Salary Hike)

Assam government will set up the fifth pay commission as it believes that the pay revision at the state level was necessary following the effect of the Sixth Pay Commission at the Centre (Full details of Assam Sixth Pay Commission Salary Hike)

Escorts Power & Energy Fund

A New Fund Offer or NFO is currently open in the Indian Mutual Fund Markets. The NFO belongs to Escorts Mutual Fund house which has come out with its Escorts Power & Energy Fund.

What are the NFO dates for Escorts Power & Energy Fund?
The NFO for Escorts Power & Energy Fund will open on August 25th 2008 and will close on September 23, 2008.

What are the investment purpose and objective of Escorts Power & Energy Fund?
The Escorts Power & Energy Fund is an open ended mutual fund, hence any number of units can be bought or sold as per the demand and supply. This fund focuses on Power/ Energy Sector and tries to generate good returns in the long run for the investors who believe that the Power and Energy Secotr can give them good returns and the Escorts Fund Management will be able to capitalize those returns in this sector.

What is the fund class and type of Escorts Power & Energy Fund?
The Escorts Power & Energy Fund offered by Escorts Fund house is an Equity Diversified scheme and is open ended in nature.

What are the Investment plans available within Escorts Power & Energy Fund?
There are two investment options available within Escorts Power & Energy Fund. Dividend and Growth. Dividend Reinvestment is default sub-option
under divided option. The investor can select the option as per his needs.

What is the Entry load for Escorts Power & Energy Fund?
The entry load charges for Escorts Power & Energy Fund is the same as standard 2.25%, like that for any other fund.

Related: Other fund from Escorts: Escorts Leading Sectors Fund

What are the exit load charges for Escorts Power & Energy Fund?
The exit load charges for Escorts Power & Energy Fund is 1% if redeemed within 1 year from the date of allotment.

Is there a SIP option available within Escorts Power & Energy Fund?
Yes. SIP or Systematic Investment Plan is available within Escorts Power & Energy Fund. The SIP Entry load for Escorts Power & Energy Fund is 2.25% per transaction

What is the minimum application amount for the Escorts Power & Energy Fund?
The minimum application amount for Escorts Power & Energy Fund is Rs. 5000/- and in multiples of Re. 1 thereafter (under both options) growth and dividened.
When will the scheme reopen for continous sale and repurchase of Escorts Power & Energy Fund?
Escorts Power & Energy Fund scheme re-opens for continous sale and repurchase on : 20th October, 2008

Sixth pay Commission Salary Calculators & Report

In my previous article about the Sixth pay Commission, I had provided some links about Salary Calculators for Sixth pay Commission.


Anyone interested in getting the summary of Sixth pay Commission report and its salient features?
Here is the link to Highlights of the Sixth pay Commission Report (Opens in a new Window in PDF)
The entire report of Sixth pay Commision can be accessed here (Opens in a new Window in PDF)
If you are still wondering how much salary hike you will receive after the recommendations of the Sixth pay Commission Report, then there are pretty good and accurate resouurces available for free on the internet to tell you how much will you receive. GConnect.in is an initiative by two Chennai based individuals, who have come up with the concept of providing online calculators to copute your new salary, your arrears which you will receive after the recommendations of Sixth pay Commission are put in place.
Here are the direct links for the Salary Calculators on the various Websites available on the net, for the changes in salary by the Sixth pay Commission Report:

Related: For State Government Employees, State Wise Sixth pay Commission Implementation Report

Salary Calculator for Pay band 1 and 2 for Sixth Pay Commission Salary Hike

Salary Calculator for Pay band 3 and above for Sixth Pay Commission Salary Hike

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

20 Microns IPO: Twenty Microns IPO Review

A new IPO is set to hit the Indian Markets very soon. The IPO or Initial Public offering belongs to 20 Microns Limited, which is India’s largest producer of White Minerals with an annual output of over 180000 tons from plants spanning four different regions of India.

What is the price band or price range of 20 Microns IPO?
The price band of 20 Microns IPO is set between Rs. 50 and Rs. 55 per share. The face value of each share of 20 Microns IPO share is standard Rs. 10 per share.

How many share will be offered for sale through the 20 Microns IPO issue?
A total of 4,350,632 equity shares will be offered for sale through the 20 Microns IPO.
The issue consists of a fresh issue of 1,675,000 equity shares of Rs 10 each (fresh issue) and an offer for sale of 2,675,632 equity shares by Gujarat Venture Capital fund 1995 (the selling shareholders). The issue will constitute 30.81% of the post issue paid up capital of the company.

Is there any shares reserved for employees of 20 Microns Company?
Yes. Up to 217,532 equity shares will be reserved for subscription by eligible employees.

Any ratings assigned to 20 Microns IPO?
Yes. Credit Analysis & Research (CARE) has assigned the `IPO Grade 3` to 20 Microns IPO indicating average fundamentals.

Where will the capital raised be used by 20 Microns IPO?
The fund raised by 20 Microns IPO will be used for he current ongoing expansion plans of the manufacturing capacities at various locations, invest in the sub-micron particle sizes required by end-market and general corporate purposes.

What are the business valuations of 20 Microns IPO?
20ML is one of the India`s largest producers of white minerals with an annual turnover of over 180,000 tons from plants and deposits spanning in different regions of the country producing functional fillers, specialty chemicals and extenders which are supplied globally. It has 4 different captive mines and 8 manufacturing locations spanned over the country with total mineral reserve of 6 million metric tons. Currently, it has about 70 international customers based in 30 countries utilizing 450 product.

Who are the BRLM (Book Running Lead managers) for the 20 Microns IPO issue?
The book running lead manager (BRLM) is Keynote Corporate Services.

The equity shares are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE).

Top Media Stocks for Investments in Indian Media Sector

Rediff has compiled a nice list of Media Companies (Media Stocks) listed in the Indian Stock Markets. Investors willing to invest in Media Stocks can look for some information on Indian Media Stocks here in this article. A consolidated version is presented here on a single page in summarized format.

Balaji Telefilms Limited 532382:
Does this need an introduction :-) Any Indian fed-up (or happy) with the Saas-bahu series will know Balaji Telefilms. Balaji produces television programmes in Hindi, Telugu, Tamil, Malayalam and Kannada and exports television serials. It has 12 shows on air; 46 of its shows have finished their run. Has Subsidiaries: Balaji Motion Pictures Limited & Interactive Media Group Limted.
Commercial Films : Kyo Kii. . . Main Jhuth Nahi Bolta, Kucch To Hai, Krishna Cottage, Kya Kool Hain Hum, Mission Istaanbul and Shootout At Lokhandwala. Its under-production and ready-for-release films include EMI, C Kkompany and The Little Godfather.

Mukta Arts Limited 532357:
Showman Subhash led Mukta Arts Limited is primarily a film producing company. Subsidiaries Include The Whistling Woods Institute for Film, Television and Media Arts, Mukta Arts Entertainment, Mukta Searchlight Films, Malpix (design studio), Mukta Movies Distribution, Mukta Arts Equipment Division
Involved in the business of Generation, distribution and exhibition of cinematic entertainment content. Also provides production equipment and offers a design studio facility. Mukta Arts also has stake in over 50 multiplexes and single screens in north India. During the last 28 years, it has produced over 20 films. Future projects, says the company, include films like Right Yaaa Wrong, Hello Darling, Yuvraaj, Paying Guests and Cycle Kick.


Network 18 Media & Investments Limited 532798
This is the company which is known for its business channels like CNBC TV 18 and CNBC Awaaz. Includes Subsidiaries like Television18 India Limited; Setpro; Network18 Holding Limited, IBN18 Broadcast Limited, Web18, Studio18, E18, Capital 18

Mainly in the business of television, print, Internet, filmed entertainment, mobile content and allied businesses. Offers general news channels like CNN--IBN, IBN7 and IBN Lokmat, a Marathi news channel in partnership with the Lokmat group. It also operates a joint venture with Viacom, called Viacom18, which houses the MTV, VH1 and Nickelodeon channels. Studio18, meanwhile, has launched the Hindi general entertainment channel Colours.
Network18 also has 23 Web sites including moneycontrol.com, yatra.com, compareindia.com and newswire18.com; it also holds the group's online & on-air home shopping venture, Homeshop18, and its full spectrum events management venture, E18.

New Delhi Television Limited
Prannoy Roy lead NDTV, one of the famous news channels of India. Subsidiaries Include NDTV 24x7, NDTV India, NDTV Profit, NDTV Good Times, NDTV Imagine, NDTV Arabia, Astro Awani, NDTV Lumiere, NDTV Lifestyle, NDTV Labs, NDTV MetroNation

Primarily in the business of producing news, entertainment, business and current affairs related television content. It also has internet presence and includes news, business, health, travel, recipes, gadgets, movies, music, books, jobs and shopping.


HT Media Limited532662
Hindustan Times, as most of us know it better. Subsidiaries Include: HT Music and Entertainment Company Limited, Firefly e--ventures, HT--PACE, Print Works, HT Events, HT Marketing Solutions, Strategic Partnerships

Primary Business of HT Media Limtied: It publishes three newspapers Hindustan Times (English), Hindustan (Hindi) and Mint (English), a national business paper that was launched in February 2007. It has an exclusive arrangement with Wall Street Journal to reproduce its content in India. It has launched its FM radio channel, Fever 104, with the help of a consulting partnership with Virgin Radio. Also publishes a children's magazine called Nandan, a women's magazine called Kadambini and a youth oriented publication, HT Next.

Operates two news Web sites - hindustantimes.com and livemint.com - and a job portal, shine.com. Through PACE, it partners with schools to add value to education. It also hosts events and offers marketing solutions

Zee Entertainment Enterprises Limited 505537
Subhash Chndra led Zee TV Network. Subsidiaries Include: Asia Today Limited. Television channels Zee TV, Zee Cafe, Zee Cinema, Zee Studio, Zee Music, Zee Classic, Zee Smile, Zee Trendz, Zee Action, Zee Sports, Zed, Zee Premiere, Zee Turner, Zee Touch India, Zee UK, Zee USA, Zee Next, Zee Learn, Zee Gold, Zee Marathi, Zee Punjabi, Kidzee Ten Sports, ETC, ETC Punjabi, ZICA.
Primary Business: To produce and source television software for general news and entertainment.
It has also forayed into film production; its release, Gadar--Ek Prem Katha was massive box office grosser. Zee Cine Awards is now an annual event.

Adlabs Films Limited 532399
ADAG, Anil Ambani led Adlabs Films Limited . Subsidiaries Includes: Adlabs Cinemas, Synergy Adlabs.
Primary business: Has focused on various aspects of the entertainment business including processing, producing and distributing movies, creating television programmes like Kya Aap Paanchvi Pass Se Tez Hai and Dus Ka Dum, offering production facilities, running cinemas and a radio station, Big 92.7 FM. It also publishes the entertainment magazine, The Plot.

UTV Software Communications Limited 532619
Subsidiaries Includes: Among others, UTV Home Entertainment, UTV Interactive, UTV Communications (UK), UTV Global Broadcasting Limited, Bindass, Bindass Movies, UTV Movies, World Movies, UTVi, Indiagames.com, UTV Motion Pictures, UTV Spotboy Productions, UTV Television, Digi--Guys, Ignition Entertainment, UTV New Media Limited, utvatplay.com
Primary business: UTV's business verticals include television content production and services, motion pictures, broadcast, interactive (animation, gaming) and new media (Internet, mobile, digital)

TV Today Network Limited 532515
The famous Aaj Tak channel holding company. Subsidiaries Includes: Aaj Tak, Headlines Today, Tez, Dilli Aaj Tak, TV Today Media Institute
Primary business: Part of the India Today Group, TV Today provides 24--hour news and general knowledge--based entertainment through Aaj Tak and Headlines Today. Tez is a dedicated capsule news channel, while Dilli Aaj Tak concentrates on news in the capital. Its media school aim to cater to the increasing need for quality journalists.

Sri Adhikari Brothers Television Network Limited 530943
Subsidiaries Includes: Live India, Mi Marathi, Broadcast Initiative Limited, Sri Adhikari Brothers Media Limited, Technocraft Media Limited, Westland Realtors Private Limited
Primary business: Television software, programming, broadcasting, telefilms, animation, producing movies

O’Gara Group IPO

A new IPO is set to hit the Capital Stock Markets very soon. The Initial Public offering or the IPO belongs to The O’Gara Group Incorporated based in Cincinnati, Ohio, USA.

What is the expected size of the O’Gara Group IPO?
The O’Gara Group IPO is expected to raise around 173 million USD from the initial Public offering.

Where will the fund raised through O’Gara Group IPO be used?
The capital raised through O’Gara Group IPO will be used mainly for aquisitions with an aim to increase its size to 4 times. There are 3 major acquistions planned totalling around 232 million USD. Apart from the 173 million USD IPO, the remaining amount will be a mix of cash raised, stocks and debt.

What are the 3 companies to be acquired by O’Gara Group IPO?
As per the news, O’Gara plans to pay $165 million for Italian company Isoclima, a maker of vehicle armor and transparent glass that generates about $100 million in annual sales. It agreed to pay $36 million for Monterrey, Mexico-based TPS Armoring, which makes vehicle armoring systems and cranked out $30 million in revenue last year. And it will pay $31 million for Freeport, Pa,-based OmniTech, a maker of night-vision weapon sights and other military optical systems that made had $13 million in sales last year and will become part of O’Gara’s sensor systems unit. All three are profitable through the first six months of the year.

What will be the effect of these acquisition by the O’Gara Group ?
The acquisitions will expand O’Gara from a company that had $38 million in revenue last year to a near-$200 million-in-sales company. The combined companies generated $180 million in sales last year and are on pace to top $200 million through the first six months of this year. They also would have made a net profit of $3.7 million through the first half of this year, according to pro forma financial figures included in the filing. That’s a big improvement on O’Gara’s stand-alone results. It lost $1.4 million last year and $1 million through the first half of this year. It hasn’t made a profit since 2005.

What are the business valuations of the O’Gara Group?
The O'Gara Group is a leading provider of advanced security products and training solutions to aid in the global war on terrorism and to enhance customer security. Founded in 2003, current customers include the United States Special Operations Command (USSOCOM) and the United States Marine Corps (USMC), the United States Departments of State, and Homeland Security, as well as foreign customers including the Canada Ministry of Defense, the Italian Ministry of Defense, the Taiwan Ministry of Defense, and the U.K. Ministry of Defense, law enforcement agencies, and private corporations and individuals.

Which stock exchange will the shares of O’Gara Group IPO be listed on?
O’Gara Group IPO shares will trade on NASDAQ under the ticker symbol OGAR.

Who are the lead underwriters of the O’Gara Group IPO issue?
O’Gara enlisted Memphis based investment banker Morgan Keegan & Co. as its lead underwriter. BB&T Capital Markets, Oppenheimer & Co., Raymond James & Associates Inc. and Stifel, Nicolaus & Co. are also participating as underwriters in the O’Gara Group IPO issue

Pay, Pension & Salary Calculators for Sixth Pay Commission Government Salary

Since the government came out with the announcement of the Sixth Pay commission recommendations for the hike in the salary, there is a lot of mayhem going on in the government employees. Though this is an election year and the government may have increased the salaries to attract more votes, the hike has been beneficial to the employees.

However, there is a lot of confusion going on in government offices about how much salary hike will an employee receive as new salary, how much arrears will be paid to him/her as a part of the increased salary, when will the salary arrears be paid and by what amount, and finally how much will be the new take home salary be after the Sixth Pay commission recommendations are put in place.

A new initiative by two entrepreneurs has come to the rescue of such employees who are still wondering about how much salary will they receive. GConnect.in is one such initiative which allows government employees to calculate their New Salary Hike online, by just typong in a few details about their grade and their current Salary.

The online calculator on the GConnect website will also show you how much money will you receive in Salary arrears , in the two installments.

For ease of use, here are the direct links to the salary calculators for various pay band after the recommendations of the Sixth pay Commission:

Salary Calculator for Pay band 1 and 2 for Sixth Pay Commission Salary Hike

Salary Calculator for Pay band 3 and above for Sixth Pay Commission Salary Hike

Salary Calculator for Pension calculations for Sixth Pay Commission Salary Hike

Reliance Big TV DTH Service

The news that was awaited by many has finally come true. Reliance DTH or Direct to Home Service has finally launched the BIG TV, a DTH service from Reliance ADAG group, for providing home entertainment and television channels.

What are the claimed advantages of Reliance Big TV DTH Service?
The biggest claim that is being made by Reliance Big TV DTH Service is that it offers the television channel content in the MPEG 4 format, while the exisitng DTH providers like Tata Sky adn Dish TV have it in MPEG 2 format. Hence, this would mean an enhanced picture quality.
There are other interfaces which are claimed to enhance the user interface like:
- 12 Mulitchannel Preview per screen
- 8 Favourite channel list
- Facility to assign personal names to the channel list
- Search feature with the name of actor, director, title keyowrd, etc.
- Offering 32 movie channels compared to 4 to 8 of the Tata Sky adn Dish TV.

What are the price for Reliance Big TV DTH Service subscription?
They seem to have come out with the so called Launch Offers :
Just pay Rs. 1490/-* and get the Reliance BIG DTH service in India

Guaranteed with all Offers
A choice of more then 200 channels
3 months free unlimited access to exclusive BIG Cinema
Monthly Subscription Pack
- 20 Movie channels
- 120 Movies
New Movies every 15 days
Sensational audio entertainment on 10 Audio channels
One Free Regional Pack

Now, there is a * on the price tag of 1490, so there are definitely terms and conditions applicable. Subscribers should enquire about that before signing up.

What are the monthly subscription charges for Reliance Big TV DTH Service?

Monthly Subscriptions for Reliance Big TV DTH Service Starting from Rs 100 upto Rs 450/-

- Choose from more than 200 channels
- Create your own channel pack
- Pay only for the channels you choose
- Choose from various price points
- Choose from Regional Packs with your own language preference
- Enhance your pack any time by an add-on pack/s
- Get access to the world's largest movie library

Again, strings may be attached, so one needs to know what are the exact charges they will end up paying.
The starter pack costs just 100 Rs. per month and comes with 44 channels. But that contains very limited channels and not those which are really popular among the households. Majority of them being the DD channels.

Where can I get more information on Reliance Big TV DTH Service?
For more info, you can contact Reliance Big TV DTH Service at Customer Care 022-3033 8888 or their toll free number 1800-200-9001

Any other information about Reliance Big TV DTH Service?
Relaince is a name which is known to change the entire market for any industry segment. Like they managed to do it for mobile and other businesses. Their entry into the DTH service secotr would definitely send ripples through the other players. However, one needs to be careful about the charges and customer service. There are always issues and concerns with the Reliance Cusstomer Services, be it mobile services, broadband services, etc. The other thing to look out for is the charges which they take.

0 Credit Card: Zero Credit Card

There are a whole lot of Credit Cards available in the credit card market which claim to be 0 Credit Card or Zero Balance Credit Card or Zero Interest Credit Cards. But which card to choose from among all the available 0 Credit Cards is the biggest question that each individual considers.

In this article, we will discuss about some of the points that one must keep in mind while selecting and applying for 0 Credit Cards. A common tactic by credit card companies is to offer people a 0 percent rate on balance transfers. The business of balance transfer works as follows: If you transfer the outstanding balance on your old credit card, the new credit card company will charge you 0 percent interest on the transferred amount.
Though the deal appears to be neat and clean, but there can be a charge for that service and that can be as high as 3% of the balance transferred from your old credit card to the new credit card. And also, this will be taken from you upfront. Otherwise there may be some conditions attached to the balance transfer like you must be required to make purchases worth a certain amount each month.
Then there is a problem with the rate of interest charged on the credit card which may be variable in nature.

Zero percent purchase credit cards are specially suited for credit savvy consumers looking to make free purchases for 12 months or more without having to pay the amount back until the end of the promotional offer period.

With 0 interest purchase credit cards, cardholders accrue no monthly interest charges for purchases they make for the duration of the card's introductory and promotional period, which usually lasts about 12 months (but can vary anywhere from 6 to over 15 months). Each month's minimum statement balance (usually small) still needs to be timely and regularly paid off to avoid any unintended late payment fees or penalties.

As available on various sources on the internet, here is a list of top 10 Credit Cards which claim to Offer Both 0% Purchases And 0% Balance Transfers:
1. Chase Flexible Rewards Platinum Visa - 0% for purchases and balance transfers (both 12 months)

2. Chase Free Cash Rewards Visa - 0% APR for purchases and balance transfers (both up to 12 months)

3. Chase Perfect Card - 0% APR for purchases and balance transfers (both 6 months)

4. Chase Platinum Visa Card - 0% APR for purchases and balance transfers (both 12 months)

5. Citi Diamond Preferred Card - 0% APR for purchases and balance transfers (both 12 months)

6. Citi Platinum Select Card - 0% APR for purchases and balance transfers (both 12 months)

7. Discover More Card - 0% APR for purchases (6 months) and balance transfers (12 months)

8. Discover More Card - Clear - 0% APR for purchases (6 months) and balance transfers (12 months)

9. Discover Open Road Card - 0% APR for purchases (6 months) and balance transfers (12 months)

10. Washington Mutual ESPN Card - Get your free FICO credit score every month. The card also offers 0% APR for both purchases and balance transfers with no balance transfer fee (6 months).

Schott Solar IPO Germany

A new IPO of initial Public offering is set to hit the German Markets very soon by this year end. The IPO belong to German Schott Group's Solar business unit called Schott Solar, which is expected to enter the capital markets by this year end.

What is the estimated size of the Schott Solar IPO?
The Schott Solar IPO is expected to collect around 500 million Eurors (equivalent of 744 million USD) through its Schott Solar IPO.

When is the Schott Solar IPO open date and listing date?
Though there are no confirm dated of Schott Solar IPO issue, but it is expected to hit the markets later this year.

Where will the fund raised from Schott Solar IPO be used?
The capital raied from Schott Solar IPO will be usedto fund further expansion and strengthen its capital base.

What are the financial results of Schott Solar Company Germany?
Schott Solar employs 1,449 staff in Germany, Spain, the United States and Czech Republic.

The company had a 310 percent profit in third-quarter earnings before interest and tax (EBIT) to 22.6 million euros on sales of 147.9 million euros, up 96 percent.

How about the competitor information for Schott Solar Germany?
The Competitor firm to Schott Solar Germany is SolarWorld (SWVG.DE) as if offers a similar product base. It reported operating earnings of 75.7 million euros for the three months to end-June on sales of 259.6 million euros.

Who are the book running lead managers for the Schott Solar IPO issue?
Deutsche Bank, JPMorgan and Commerzbank are joint bookrunners for the IPO and LBBW acts as co-lead manager.


What are the business valuations of Schott Solar IPO?
Schott Solar is an integrated solar energy company, which manufactures solar cells and panels. Its joint-venture with chemicals group Wacker Chemie delivers solar wafers and secures the supply of solar-grade silicon. They offer a wide range of future-oriented products and solutions for almost all photovoltaic and solar thermal applications. SCHOTT Solar is among the world´s leading fully integrated manufacturers of PV wafers, cells and modules. Schott Solar is an integrated solar energy company, which manufactures solar cells and panels. Its joint-venture with chemicals group Wacker Chemie delivers solar wafers and secures the supply of solar-grade silicon. They offer a wide range of future-oriented products and solutions for almost all photovoltaic and solar thermal applications. SCHOTT Solar is among the world´s leading fully integrated manufacturers of PV wafers, cells and modules.

Largest Stock Exchanges of the World

Here is a nice list of the World's Largest Stock Exchanges, in terms of the amount of money that is traded on them. Though the list covers only the top 8 stock exchanges of the world, many more can be put in the list. Please post the remaining in the comments section:

New York Stock Exchange (NYSE): $21.79 trillion share trades that occur on this NYSE stock exchange makes it the biggest stock exchange of the world. That's why it is also nick named as the Big Board.

(NASDAQ: National Association of Stock Dealers and Quotation: With $11.81 trillion share trades, this is the second largest stock exchange of the world.

London Stock Exchange: With $7.57 trillion share trades, the London Stock Exchange is the third largest stock exchange of the world. At present, it is situated in Paternoster Square close to St Paul's Cathedral in the City of London. One of the largest stock exchanges in the world, LSE was founded in 1801.

Tokyo Stock Exchange TSE: With $5.82 trillion share trades, the Japanese Stock Exhcange called the Tokyo Stock Exchange is the fourth largest stock exchange of the world.
The Tokyo Stock Exchange, or TSE, located in Tokyo, Japan, is the second largest stock exchange in the world by market value, second to the New York Stock Exchange, but 4th in terms of worth of shares traded. It currently lists 2,271 domestic companies and 31 foreign companies.

Euronext: With over $3.85 trillion share trade, the Euronext N.V. is a pan-European stock exchange based in Paris with subsidiaries in Belgium, France, Netherlands, Luxembourg, Portugal and the United Kingdom. In addition to equities and derivatives markets, the Euronext group provides clearing and information services.

Deutsche Borse: Another European Stock exchange with over $2.74 trillion share trades. The Borsa Italiana S.p. A., based in Milan, is Italy's main stock exchange. It was privatised in 1997, and was acquired by the London Stock Exchange in October 2007. Borsa Italiana has managing responsibility for Italy's derivatives markets and its fixed income market.

Borsa Italiana: With $1.59 trillion share trades, the Italian Stock Exchange holds the 7th position in the list of the top stock exchanges of the world.

SWX Swiss Exchange: $1.40 trillion share trades

Debt Consolidation: Debt Consolidation Loan

People love to take loans. "Live in today, forget about tomorrow", that seems to be the mantra for the younger generation. So people take loans. Loans for house, loans for buying accessories, loans for shopping, loans for everything. However, one cannot ignore the dangers of such irresponsible decisions, once they are caught in the grip of the recursive loan repayment. At that time, the so called Debt Consolidation or "Debt Consolidation Loans", appear to be one of the available options.

Wnat more explaination on Debt Consolidation? Let's take an example:
Nick has taken a house loan from Bank of America. He has to repay that loan to the Bank by making a monthly payment of 5,000 per month. He also has an Auto Loan for buying his car, for which he is paying 300 per month. Then, his family shopping exceeded the budget last month, and he used his credit card to pay for the bills. Here, he has to make a payment of 150 per month for his credit card arrears.

Now comes the most important part. Nick's Home loan lender charges him 5% interest rate, while the Auto loan lender charges him 7% interest rate. The credit card company is a bit bad, and it charges Nick a high amount of 15% interest rate.
Also, the tenure for all these loan repayment varies. House loan may be repaid in 10 years, Auto loan in 5 years, and credit card debt in 8 months.

So what can Nick do to get rid of all these varying interest rate loans and varying duration. Here comes the concept of Debt Consolidation.

What is Debt Consolidation Loan?
Debt consolidation loan allows taking out one loan to pay off many others. This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan.
In case of Nick, it would mean that a bank or a financial services company can offer a single loan to him as a Debt Consolidation Loan, and it will make the early payments for all the 3 loans for Nick. After taking the Debt Consolidation Loan, Nick will be left over with only one loan to be repayed, and that will be the Debt Consolidation Loan.


So what is Debt Consolidation?
Debt consolidation can simply be from a number of unsecured loans into another unsecured loan, but more often it involves a secured loan against an asset that serves as collateral, most commonly a house. In the case of Nick, a mortgage is secured against the house. The collateralization of the loan allows a lower interest rate than without it, because by collateralizing, the asset owner agrees to allow the forced sale (foreclosure) of the asset to pay back the loan. The risk to the lender is reduced so the interest rate offered is lower.

How should one apply for Debt Consolidation Loan?
The biggest concern here while going for a Debt Consolidation Loan is with your financial position. Since as an individual, Nick already has 3 big loans to take care of, it indicates that he is in financial trouble. If he had been financially sound, why would he look for a Debt Consolidation Loan.

Therefore, debt consolidation companies offering Debt Consolidation Loan can discount the amount of the loan, i.e. offer less loan amount then required. When the individual is in danger of bankruptcy, the debt consolidator will buy the loan at a discount. Hence, it is important that you as a careful prudent debtor should shop around for consolidators who will pass along some of the savings. Consolidation can affect the ability of the debtor to discharge debts in bankruptcy, so the decision to consolidate must be weighed carefully.

When does it make sense to go for Debt Consolidation Loan?
If you believe that you are having big bills to pay with high interest rates, then you must seriously consider the Debt Consolidation. An example may be paying high interest rate of 18% on credit card bills, when a Debt Consolidation Loan may be available to you only for 9%. That will mean making a saving of 50% on the interest payment.
Another example can be when you have a old loan for which you are paying high interest rate, say of 12%, while due to the new market developments, the interest rate for Debt Consolidation Loan may be available for just 6%. Again, going for Debt Consolidation will help you save money.

What are the risks involved in Debt Consolidation?
It depends upon many factors:
- Have you done all the calculations for the savings that you will make if you are going for Debt Consolidation? Is that saving significant?
- Will you be charged an early pre-payment penalty by your existing loan? If yes, how much will it be? Will the Debt Consolidation Loan calculation be beneficial after discounting this calculation?
- Is the Debt Consolidation Agency offering low interst rate but charging high amount of money for the Debt Consolidation Service? If yes, will it be meaningful to go for a Debt Consolidation Loan after taking into account these charges?
- Act now, dont wait for the interest repayments to pile up and leave you in a state where you have no option to survive, but to go for a Debt Consolidation Loan, at the terms and conditions of the company. In some cases the situation is that the client does not have enough time to shop for another lender with lower fees and may not even be fully aware of them. This practice is known as predatory lending. Certainly many, if not most, debt consolidation transactions do not involve predatory lending