The e-voting to finalise the liquidation process of six wound-up schemes of Franklin Mutual fund will take place in a week. The remote e-voting is scheduled to start on June 9 and it will end on June 11.
Investors have also demanded that Sebi should appoint an administrator to take over FTAMC
The chatbot, the first one rolled out for a public offering, has been developed by Jio Haptik Technologies.
The Worldline survey found that in the first quarter, people used mobile apps for smaller transactions, and Net banking for high-ticket sales.
Here is the weekly tracker of returns from Sensex, 10-year government bond, US dollar and Indian rupee.
The regulator said the penalty on Citibank was for not adhering to the directions related to customer credentials.
Last month, Franklin Templeton had closed six debt funds.
The proposed online process of e-NPS exit would be similar to the existing online e-NPS platform already in use for opening NPS accounts by customers of Bank-Point of Presence (POP). Banks shall also be eligible for payment of processing fees.
Franklin Templeton Mutual Fund, which closed its six debt schemes, on Thursday said the voting window for affected investors would be opened for three days starting June 9.
Electricity demand is inching closer to last year's level but experts feel it is mostly due to hot weather, particularly in the plains of northern India. Andhra Pradesh, Madhya Pradesh, Bihar, Delhi and Uttar Pradesh are closer to last year’s electricity demand level.
The zero-contact method completely does away with paper work or biometric verification, thereby removing physical interaction between the bank and customer from the know your customer (KYC) process, IDFC First Bank said in a release.
The facility is a paper-less, free of cost and on real-time basis facility. As per the income tax department, the turn-around-time of alloting a PAN is 10 minutes on real-time basis.
According to the central government's guidelines, people should be home-quarantined in mild and pre-symptomatic COVID-19 cases. An undertaking is also taken in suspected COVID-19 cases that the person would follow the home quarantine norms, it said.
The process enables immediate activation of NPS account due to instant KYC verification and also facilitates the immediate deposit of NPS contribution by the subscriber.
Franklin Templeton Mutual Fund further said that investors who do not have an e-mail ID or mobile number registered with the fund house will not be able to participate in the voting process.
Fraudsters have managed to steal from hundreds of bank accounts by either impersonating acquaintances of account holders, tricking tipplers desperate to buy liquor online, or deceiving those searching for service providers.
Indians studying abroad in the midst of the Covid-19 pandemic now also have to worry about a looming personal financial meltdown.
The exact dates and time will be mentioned in the public notice that will be published
Outstanding PTCs in the financial market are estimated to add up to around 1.25 lakh cr.
Tata Consultancy Services (TCS), Wipro, and Infosys have deferred hikes. Reliance and Oyo have cut pays.
The government allowed domestic airlines to start operations from Monday this week and all airlines have been operating flight as per their schedule with minimal cancellation. Market leader IndiGo has not cancelled any flight during the first three days of operation – only cancellations have happened due to the order by state governments.
The proposed relaxation on ‘tap and go’ payments could make card purchases safer for both the consumers and the merchants in the post-covid era as customers would not have to hand over cards at payment terminals and touch the swipe machine to enter PIN, according to these companies.
A pent-up demand for vehicles and social distancing needs, coupled with the introduction of digital inputs to manage customer journey by banks will lead to a faster uptick in auto sales, which were sagging before the lockdown and came to a standstill in the last two months, the bank's country head for retail lending Arvind Kapil said.
Omni-channel goods’ resellers such as OLX, Quikr, Cashify and Yaantra are witnessing a flow in demand towards the organised refurbished and pre-owned smartphone market in just over a week of easing of lockdown restrictions.
Gold jewellery is the second most popular item they own when compared against a range of other fashion and lifestyle products. 60% of women own gold jewellery – second only to designer clothes/sarees. And 40% had bought gold jewellery in the preceding 12-month period, eclipsing purchases of diamond or platinum jewellery.
The insurance will help cover the expenses related to COVID-19 hospitalization and treatment as well as ambulance assistance and ICU charges of up to INR 50,000, and it will be valid for one year after activation, the company said in a statement.
According to the PSU lender's press release, it has "proactively reached out to all of its eligible loan customers to obtain their consent to stop their Standing Instructions (SIs) / NACH mandate for the EMIs falling due in June, July and August 2020."
Parag Parikh Long Term Equity Fund (PLTEF), the flagship equity scheme of PPFAS Mutual Fund, has completed seven years on May 24. Currently, the scheme manages assets of Rs 2925 crore as on April 30.
With the share prices of Zee Enterprises and Dish TV — which Essel had put up with lenders as collateral — falling, HDFC has marked down Rs 120 crore out of the Rs 149 crore that Essel has to repay, said a person familiar with the matter.
After the steep rate cut, SBI's 1 year to less than 2 year FDs will fetch 5.1 per cent, 3 years to less than 5 years will earn 5.3 per cent and 5 years and up to 10 years will earn investors 5.4 per cent.
Many investors are having second thoughts about their investments in debt mutual funds. Most advisors are asking investors to stay away from most debt mutual fund categories, expect for overnight and liquid funds.
Distributors of consumer goods, electronics, smartphones and cooking oils have started dealing only in cash instead of the usual practice of offering up to three weeks of credit as they fear defaults by small retailers during the business downturn.
According to CMIE, increasing labour participation rate (LPR) week after week in May, touching 38.8% for the week ended May 17, shows that a fairly large number that had technically left the labour market in April is returning back. LPR had fallen to 35.6% in April from 41.9% in March after which it gained ground in May.
The benefits paid on discontinued funds accounted for about Rs 35,000 crore for private sector insurers in FY19 and Rs 4,000 crore for LIC.
MHA had issued revised guidelines on May 24 for international passengers arriving on special flights and naval ships as part of the Vande Bharat mission. The May 5 guidelines had said mandatory 14-days quarantine and States were asked to make arrangements.
Praveena Rai, chief operating officer of NPCI said the USSD-based service would facilitate feature phone users having a UPI ID to keep in touch with their near and dear ones even if they don't find mobile recharge shops in their localities.
"Our researchers have identified a reputable seller, who is selling 47.5 million Indians Truecaller records for USD 1,000 (about Rs 75,000). The data is from 2019. We were also taken off by surprise with such a low price point," Cyble said. The data on sale includes phone numbers, gender, city, mobile network, Facebook id etc.
Folios are numbers designated to individual investor accounts. An investor can have multiple folios.
To provide this facility to brokers, the bourse will issue Application Programming Interface (APIs) for such brokers and other intermediaries to connect their IT systems to BSE's eKYC system.
As part of the tie up, ICICI Bank is offering flexi EMI scheme which enables customers to pay low EMI initially, in order to help them overcome the liquidity stress due to the COVID-19 pandemic, the auto major said in a statement.
The company that has a retail store in Hyderabad and also sells products online in Mumbai, Hyderabad and Pune, had to shut down operations for more than 60 days due to the lockdown. It has yet to resume online sales in Mumbai and Pune.
With the outlook uncertain, some have even withdrawn hold ratings for stocks.
It can be noted that deposit rates across the system are dipping due to a combination of an interest rate lowering by the Reserve Bank of India and also a lack of loan growth where the money can be deployed.
Microfinance leaders fear extended moratorium may increase stress and derail their robust credit discipline.
The spec sheets are in real danger of being outdone by the swelling list of purchase offers.
The ongoing case between Axis Trustee and Yes is scheduled to come up for hearing in June.
The centre cut down more flights from the original schedule that the airlines had announced last week.
“Yields were in excess of 5% for guaranteed products with maturity of 10-15 years. These products will now have to be redrawn and repriced,” said Sandeep Ghosh, financial sector advisory leader, EY.
Earnings downgrade in the sector is likely to be the lowest among all sectors.
The fund house said it has compensated the scheme for the erroneous trade.