Saturday, May 30, 2009

Firefox incompatible government websites

I've been having trouble using Firefox with many government websites, the last being the official site of the Indian Railways.

I can open the website, however when I try to check the ticket status,

It seems to process properly,

Oh, it makes me wonder if I visited some other website by mistake..

No, it leads to the same page as before!!

Monday, May 25, 2009

Tanishq gold scheme

I got a brochure from the Tanishq showroom near my house, which said about a gold savings/purchase scheme, and said that was the best savings scheme available.

The scheme is, pay Rs. 500 a month for 11 months, the 12th month is free and Tanishq pays a bonus of Rs. 300. So, by paying Rs. 5500 over 11 months, you can purchase Rs. 6300 worth of gold at the end of the year. This seemed too good to be true.

I thought, what if I purchased Rs. 5500 worth of gold now, and see how much I get at the end of the year?

Let's assume the gold price today is Rs. 1500 (yesterday, it was Rs. 1480), and I buy exactly how much I can purchase for Rs. 5500 or 6300. I also assume a 10% increase in gold price the next year (actual increase from last year was 4.5%) and over 5 years, gold price will increase a modest 1.5 times (over the last 5 years it was 1.46 times)

Increase Gold Price Wastage Purchase Price Purchased Gold (g) Sold @ T5 Profit @ T5 Outright – Tanishq scheme
T0 1500 15.00% 1725 5500 3.19 13152.17 7652.17 256.52
T0 1500 15.00% 1725 6300 3.65 15065.22 8765.22 1369.57
T1 10.00% 1650 15.00% 1897.5 6300 3.32 13695.65 7395.65
T5 150.00% 4125

There is no option of buying gold coins, the item with the minimum wastage.

This option is available in UTI Gold ETFs, which I assume, going for the SIP plan, if that exists for gold ETF. UTI roughly traces the day's gold price.

Month Amount Price Units purchased
T0 500 1500 0.33
T1 500 1513.5 0.33
T2 500 1527.12 0.33
T3 500 1540.87 0.32
T4 500 1554.73 0.32
T5 500 1568.73 0.32
T6 500 1582.84 0.32
T7 500 1597.09 0.31
T8 500 1611.46 0.31
T9 500 1625.97 0.31
T10 500 1640.6 0.3

5500 3.51
Average purchase price 1568.1
T5 After 5 years 4125 14468.18
Profit 8968.18

A Bank FD (6.5% ROI, Rs. 5500 for 5 years)
Principal 5500
RoI 6.50%
Duration 5
Amount 7592.31
Profit 2092.31

Thus, Tanishq doesn't seem to offer me the best savings plan as it claims in its brochure. Outright purchase is more profitable than going for this dubious "best savings scheme".

This scheme is definitely not geared towards anyone from middle-middle class or below, since gold is always sold at a premium over the other shops. They wouldn't purchase here in the first place, and they definitely would be prudent enough to see through the smoke.

Sunday, May 24, 2009

Some Nice Songs

From one and a half decades back... I feel so old...

Ye teri aankhen juki juki - Fareb

Chappa Chappa - Maachis