Allahabad Bank lowers external benchmark-linked loan pricing

The Asset Liability Management Committee (ALCO) of Allahabad Bank on Saturday announced a cut of up to 40 basis points in interest rate on external benchmark-linked products.

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Mid and smallcaps cede their entire 2020 gains

The broader markets fell in line with the slump in the main benchmarks on Friday.

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Vivaad se Vishwas gives chance to slay demonetisation demons

Vivaad se Vishwas scheme looks like a blessing for those who came under scrutiny following demonetisation.

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You have just one more day to get FASTags for free

Road users can visit any authorised point-of-sale location with a valid registration certificate (RC) of the vehicle and get an NHAI FASTag free of cost. NHAI FASTags can be purchased from all national highway fee plazas, regional transport offices, common service centres, transport hubs, and petrol pumps, among others, it added.

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PGIM India launches money market fund

PGIM India Money Market Fund will be managed by Kumaresh Ramakrishnan, CIO-Debt and Kunal Jain, Fund Manager – Debt.

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Coronavirus outbreak: Petrol, diesel set to get cheaper as crude oil hits 13-month low

Petrol is down Rs 3.74 a litre and diesel Rs 4.41 a litre since mid-January. In Delhi, petrol was priced at Rs 71.96 and diesel Rs 64.65 a litre on Thursday. Crude oil has tumbled 12% in eight days as several cases of coronavirus emerged from many countries.

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Press panic button or use crash to buy stocks? Tips from top investors

ETMarkets did a round-up of what top experts are saying to make some sense amid all the noise.

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Jio vs Airtel vs Vodafone Idea: A comparison of 2GB per day data plans

All the telecom operators these days offer a decent 2 GB per day data on affordable plans. Here is a comparision of such prepaid plans being offered by Reliance Jio, Vodafone Idea and Bharti Airtel.

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Low transaction charges don’t promote digital payments: Mastercard CEO Ajay Banga

“Wherever in the world MDR has been reduced to the levels where it makes it uneconomical for the acquirer or issuer to participate in the natural business of electronic payments, you tend to lose the momentum. It’s a balancing act,” he said in a telephonic interview.

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SAT allows lenders to sell Reliance General Insurance

Nippon India MF and Credit Suisse are likely to invite bids for Reliance General Insurance, whose shares are held by IDBI Trusteeship. Current foreign direct investment norms prohibit non-residents from owning more than 49% in an insurer.

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Sebi urges mutual funds to create liquidity buffer for debt schemes

Analysts said any SLR requirement could impact returns on debt mutual fund schemes.

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For mutual fund industry, it's back to basics

The more than 18-month-old credit crisis began with IL&FS’ default in late 2018, and has hindered recovery in an economy grappling with slowing economic growth.

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State Bank of India conducts mega e-auctions of 1,000 properties

Bank officials said these were small retail and industrial properties whose owners were defaulting and which the SBI was selling through auction to recover the amounts. The property details are only given to the registered bidders after they logged into the demarcated website and deposited the earnest money, and submitted KYC documents along with a digital signature.

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EPFO mulls rate cut on PF deposits to 8.5% for FY20

The EPFO is considering a cut of 15 basis points in the interest rate on PF deposits in FY20 to 8.5%.

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India Post Payments Bank crosses 2 cr customer mark

India Post Payments Bank (IPPB) has garnered over two crore customers in less than two years of being operational. According to a statement, IPPB had reached the landmark of one crore customers in August last year - its first year of operations.

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MFs should widen customer base, bring down abstention rate: G Mahalingam

Mahalingam said that the unique customers we have garnered are still a small number and there is a need to look beyond big cities

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Always connected: Indians consume over 11GB data daily, spend 70 mins a day on OTT platforms

4G constitutes 96 per cent of the total data traffic consumed across the country.

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With revenues falling, taxmen rake up three-year-old demonetisation cases

Jewellers have received tax notices asking them to turn over money they made from gold sales during DeMo.

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Focus on customer connect: Nirmala Sitharaman to PSBs

The EASE 3.0 reforms agenda commits the PSBs to smart, techenabled banking. Dial-a-loan for doorstep loan facilitation and digitalised branch experience are some of the elements on the agenda. Through the latest roadmap, FM spoke of the future of banking going digital and being data driven.

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Leisure travellers give Southeast Asia a skip, enquiries dip 37%

Enquiries for Southeast Asian destinations are down by about 37% while fares to them have dropped 15-20%, according to the portals. Indian carriers have also started reducing capacity to these destinations due to the decline in travel.

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PFRDA hopes to add 10-12 lakh new subscribers by March: Chairman

By March-end, the pension fund regulator, which runs Atal Pension Yojana (APY) and National Pension System (NPS), is expected to have nearly 3.48-3.5 crore subscribers on board.

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Electronic goods set to get expensive amid short supplies from virus hit China

All large manufacturers including LG, Voltas, Samsung, Haier and Panasonic have decided on a 3-5% price increase across models. This means a price hike of Rs 3,000-4,000 for premium and large capacity models. Sales executives at LG and Samsung, have informed of a 3-4% price hike for microwave ovens and washing machines from next week.

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Life insurance companies may offer more health policies

Irda said that it set up the committee following representations from life insurers seeking expansion of their product offerings to make better use of their distribution networks.

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Great Indian dividend festival’s on before new tax rules kick in

The boards of 32 more companies are meeting in the next three days to decide on the dividend.

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Bharti AXA General uses WhatsApp to deliver policy and renewal documents

The company is the first among non-life insurers in India to introduce the entire bouquet of service initiatives such as policy documents, renewal notices and claim intimation for its customers by using WhatsApp chatbot, an intuitive and user-friendly chat structure where the customers can raise requests simply through numeric inputs, it said.

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Gold-backed ETFs have never seen a run of inflows like this

The global tally of bullion in exchange-traded funds swelled by the most in more than a month.

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Bank holidays in March, 2020

Here is the list of bank holidays in March.

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Hyundai offering discounts up to Rs 2.5 lakh till this month-end

Two years back, the Supreme Court had said that no Bharat Stage IV vehicle shall be sold across the country with effect from April 1, 2020. So carmakers are now in a hurry to sold out their remaining BS4 stock ahead of the deadline. Thus Hyundai is also trying to clear its inventory with huge discounts this month.

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Bullish on consumption story? SBI Cards IPO looks a good bet

While SBI Cards’ valuation looks aggressive, it reflects the faster growth in the Indian market.

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EPFO adds over 7.2 m accounts in 9 months

The number of accounts added by the government-managed pension fund during April-December 2019 was higher compared with the 6,112,223 accounts added in the entire fiscal 2018-19. However, the number of new employees added in December fell marginally to 1,008,600 from 1,162,863 in November.

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GoAir flight ticket sale offer: Today's the last date. Check details here

You can avail the GoAir Go Fly offer by booking a ticket online through our website at GoAir.in or you can also download our mobile app. Mobile app flight bookings can give you an instant 10% discount when you use the code GOAPP10. As per GoAir's promotional teaser on its website, domestic flight tickets are offered for as low as Rs 957 while international flights can be grabbed for as low as Rs 5,295.

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Sebi puts in place tighter norms to prevent client securities' misuse

Sebi has put in place stringent norms to prevent misuse of clients' securities that are available with trading and clearing members, and depository participants.

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RBI's new moto 'cash is king, but digital is divine'

Overall, the digital payments in the country have witnessed a growth (CAGR) of 61 per cent and 19 per cent in terms of volume and value, respectively over the past five years, demonstrating a steep shift towards digital payments. "Cash still rules but is increasingly seen as a way to store value as an economic asset rather than to make payments," it said.

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IRDAI considers allowing life insurers to offer indemnity health insurance plans

Indemnity-based health plans are basically those insurance policies where the insured is reimbursed the actual expense incurred during hospitalisation up to the total sum insured under the policy.

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Reliance Jio reduces validity of a popular plan

Jio has recently introduced two new plans priced at Rs 49 and Rs 69 which come with 14 days of validity and offer 2 GB and 7 GB data respectively. Jio has also tweaked its long term Rs 2020 plan which is now priced at Rs 2121 that has a validity of 336 days against 365 days of Rs 2020 plan.

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Funds pitch patience to investors betting on Indian midcaps

NSE Nifty Midcap 100 Index logged its biggest monthly gain in 10 months in January.

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Warren Buffett calls coronavirus outbreak 'scary stuff,' but says he won't be selling stocks

"It is scary stuff," Buffett said. "I don't think it should affect what you do in stocks."

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Employees can switch I-T regime in same year

The budget for the next fiscal has proposed to add a new tax regime to the existing one. From April, taxpayers will have the option to choose the proposed lower tax rates with no exemptions, or the existing regime that allows for deductions and exemptions.

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How Sensex, gold, 10-year G-sec performed for week ending Feb 20, 2020

Here is a weekly tracker of Sensex, gold prices, bond yields and inflation. The tracker keeps you updated about the changes in the past year so that investors can get an idea of how their investments performed over a long-term.

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Warren Buffett's letter: Investing lessons for India investors

The Oracle of Omaha last year noted that valuations for acquisitions had gone up sharply.

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Investors prefer savings schemes & pension plans to risky bets: Survey

47% of those surveyed held a life insurance policy and 33% had plain-vanilla bank deposits.

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Banks are closed for three days, more pain awaits next month

Banks branches will not be open for business today on account of Shiv Ratri. Tomorrow being the 4th Saturday, banks will remain shut. And obviously, they won't be open to customers on Sunday, a weekend. Some banking work like cheque clearance may get affected due to the same. Also get ready to face more inconvenience next month.

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IRDAI pulls up Oriental for hiding commissions

Oriental has in its response said it will ensure that it will not refer to commissions or payouts by “generic references” in its financial reports for FY20. And it will be restating its financials for FY17 and FY18, if needed.

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Hedge funds record slowest growth in inflows on higher tax

It has seen the slowest half-yearly growth in investments made during the July-Dec period of 2019.

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Sales on e-commerce platform grows bigger on 24x7 availability, lucrative offers

In white goods, e-commerce contribution has gone up by 1-2 percentage points in 2019. However, in the last two years, the contribution has almost doubled – 6% for refrigerators in 2019, up from 3% in 2017; 13% for washing machines from 7%; and 9% for ACs from 4% in 2017.

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Coronavirus impact: Dollar, equities and gold rally; why 2020 could be a year of rate cuts

The demand for the Japanese yen often increases amid rising risks to economic growth.

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Placements for the class of 2020: Non-bluechip B-schools beat slowdown blues

Business schools other than the top six IIMs (Ahmedabad, Bangalore, Calcutta, Kozhikode, Lucknow and Indore) have seen a jump in average salaries and number of recruiters for the class of 2020. The top six do well pretty much every year. It’s campuses just below them that have sprung a surprise.

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Sebi should allow bundling of MF with loans, other financial products: Industry body

The suggestions are expected to increase mutual funds penetration (currently at 2%) in the country.

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Passenger vehicle retail sales fall 5 per cent in January: FADA

"Auto sales continue to be in the negative territory in the month of January, except for three wheelers, with many consumers still not concluding on their decisions. Ongoing transition of BS-IV to BS-VI is also a factor in delayed purchase decision," FADA President Ashish Harsharaj Kale said in a statement.

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Overnight mutual funds AAUM grows 5 times in 10 months

Overnight funds within the open-ended debt mutual fund schemes is the newest category investing in debt and money market instruments with overnight maturity of just 1 day.

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