Tag Archives: turn

Money

Turn Your Scrap Gold Into Money

A highly valuable and precious metal, Gold has a lot of utilities other than just making fine pieces of jewellery. Scrap gold is a term associated with any metal that is entirely or partly gold. Broken gold jewelry, gold coins, gold dental bridges and gold wires are some common items sold as scrap gold. Although hard to believe but scrap gold is all over the place and can be found inside computers, electronic items and mobile phones and moreover a lot of money can be minted out of scrap gold.

Considering the fact that scrap gold is so very valuable, broken pieces of jewellery should not be thrown away. Instead, they should be gathered and appraised by a scrap gold dealer or buyer and then sold to them.

Turning scrap gold into money is very easily done. Quite a lot of online gold dealers would readily agree to buy gold from clients as it is their line of business to buy and recycle for making new jewellery. Sometimes, it is also used for industrial applications like electronics, dentistry, making medals, medallions, fake coins etc. All one has to do is send the scrap gold through a secured envelope. A broken necklace chain or a loose watch clasp is also forms of scrap gold which can be sold either per piece or in bulk. Normally, the online gold buyers would check the type of gold and how much it weighs. The measurement of gold is done in carat and higher the carat, higher the value of gold.

In order to use again and again, scrap gold is usually melted which is like recycling instead of mining it. But, it is not going to be worth the cost of real gold jewellery which is assessed according to the way it looks. Scrap gold on the other hand is assessed on the basis of its weight.

If one knows how to extract scrap gold from electronic parts and other items, it is well and good although the process is a bit complicated and tedious. A good amount of money can be received out of selling all the scrap gold available in the house. The extraction job should be left to the experts until and unless one is absolutely sure of what needs to be done.

Unfortunately, the kind of scrap gold the dealers require should be in pure form which means that no extraction whatsoever is needed. A tiny chain, small coins or broken jewellery embedded with gemstones are the ideal ones. Before handing the jewellery over to the dealer, the gemstones should be taken out. The pricing for the scrap gold is done on the basis of the available gold, the rate of gold that day and the dealer’s fees.

Varad International Ltd was incorporated in England in 2002. The company is primarily involved in precious metal casting to make jewellery. We therefore guarantee to pay you the best price for your broken, old and unwanted gold, silver and platinum jewellery. For more Detail please visit : http://www.varadint.com

Finance

Finance pro M Anandan turn entrepreneur after retirement

For a high-ranking finance professional, after retirement, the safest choice is to become an independent director or play an advisory role. But not so for MAnandan, a veteran in financial services with over 30 years of multi-functional experience.

After a three-decade stint with the Murugappa Group, he has turned an entrepreneur, promoting and investing in socially-relevant segments like micro finance, SME financing, gold loans, affordable housing finance and the like.

A chartered accountant, Mr Anandan joined the Murugappa Group in 1976 as a management trainee with Tube Investments of India. In 1988, he moved over to the group’s asset financing NBFC,Cholamandalam Investments and finance.

Says the 60-year-old Anandan proudly: “In the first leg of my life, I spent 31 years with the Murugappa Group graduating from a management trainee to become MD of Cholamandalam Investments and then, Cholamandalam MS General Insurance. I was the first non-family member of the group to become a director and also the MD.”

During his 12-year stint at the helm, leveraging the freedom given by the group to play an entrepreneurial role, he identified and grew new businesses like factoring, wealth management, AMC/mutual funds and insurance, besides forging JVs. Called by his friends a maverick and a man with the Midas touch, Mr Anandan has become a role model for aspiring young Turks.

“After retirement, I declined offers to join boards and play advisory roles. Rather, in the past three years, I have ventured to become an investor and promoter of evolving new businesses. I am also on the boards of the companies guiding them in management, business plans and raising funds,” says MrAnandan.

He is a co-promoter and director in Equitas Micro Finance India, which has a net worth of Rs 300 crore and built assets of more than Rs 1,000 crore within three years. With negligible exposure to Andhra Pradesh, it is not hit by the current storm in the sector. Since 2008, he is an investor and director with Manappuram General Finance and leasing (specialising in gold loans). He is a majority shareholder and chairman of Fivestar Business Credits, focused on financing micro and small enterprises.

In December 2009, Mr Anandan promoted Aptus Value Housing Finance to focus on low-income and affordable housing finance segment in suburbs and semi-urban centres in the South. Mr Anandan holds a 70% stake (Rs 22.5 crore) in the Rs 32-crore paid-up capital and the rest Rs 9.5 crore raised as private equity.

“In our survey, we found that small traders, fruits, vegetable and milk vendors, vehicle cleaners and scores of self-employed people have regular income and are equally credit worthy. Since they don’t have bank statements, IT returns or any other documentary evidence to show their income, they are not able to access housing loans from banks andHFCs,” Mr Anandan points out.

Aptus has identified this as a focus segment. It gives them a loan of Rs 10 to Rs 20 lakh for a period not exceeding 15 years. The interest band is 13-14%. Its plan is to disburse Rs 400 crore the next fiscal. Sounds like a big target. But Mr Anandan remains bullish, citing the estimated Rs 6 lakh crore markets for affordable housing.

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