ETMarkets Survey: How to invest Rs 1 lakh in a Covid19-hit market

With economic outlook very uncertain, should you still remain heavy on equities?

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Home loans, credit card debt slump in April-May

Typically, home loans and credit card outstanding display growth throughout the year. However, the first two months of this fiscal saw the credit card outstanding shrink by Rs 15,207 crore to below the Rs 1-lakh-crore level to Rs 92,887 crore.

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Equity returns may be muted, says Balasubramanian of ABSL Mutual Fund

“If you have the bandwidth to continue your investments, then do not stop them or redeem in a market correction,” Balasubramanian advises.

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Stamp duty to pinch liquid fund returns further

The move by the Securities and Exchange Board of India to hold at least 20% of liquid funds’ corpus in liquid assets like cash and government securities from July 1 could squeeze returns further.

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Cashless treatment scheme soon for road accident victims with Rs 2.5 lakh cap per case

For the cashless scheme for road accident victims, the Ministry of Road Transport and Highways (MoRTH) will set up a Motor Vehicle Accident Fund under it. All road accident victims of Indian or foreign nationality will be considered eligible for the scheme.

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HSBC Mutual Fund launches HSBC Focused Equity Fund

HSBC Asset Management has announced the launch of HSBC Focused Equity Fund (HFEF) - an open-ended equity scheme investing in maximum 30 stocks across market caps.

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2020 is nudging us towards socially-responsible investing, Jimmy Patel of Quantum MF

The year 2020 is teaching us one significant lesson. That is, be more responsible and caring human beings as we are all stakeholders of planet earth and the universe.

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SBI launches Yono branches in three cities

"We believe the Yono branch will enable and empower customers to adopt digital banking to enjoy all banking services with ease," SBI Chairman Rajnish Kumar said.

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I-T relief on purchase of discounted shares of troubled companies

"Such an exemption will encourage more investors and make such reconstruction schemes more lucrative and viable," said Suraj Nangia, Partner, Nangia Andersen LLP.

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As people stayed home, cyber fraud tripled during lockdown in Delhi

Several accounts and IDs through which people were defrauded in the name of Covid-19 donations were also blocked in the recent past. Over 80 blocked IDs pertained to the PM-Cares fund. About 150 social media accounts were blocked for posting provocative content.

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Delhi: Want new driving licence? Test may take up to three months

The number of online appointments were drastically reduced to ensure social distancing. Even the busiest RTOs that earlier faced over 1,000 applicants a day are now giving time slots to only a couple of hundreds.

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Mutual fund investors give middlemen the slip

Role of intermediaries in financial markets through MFs appears to be less dominant.

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Digital payments bounce back to pre-Covid levels

UPI, operated by the National Payments Corp of India (NPCI), processed 1.23 billion transactions worth Rs 2.41 lakh crore until June 28, the most recorded by the channel in a month, Reserve Bank of India (RBI) data showed.

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Petrol, diesel price hike didn’t hit common man: Oil Minister Pradhan

Pradhan said the national as well as global economy was going through a challenging time and that it had impacted the demand and supply of fuel across the world.

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The golden era for yellow metal is here to stay

Although international markets and Indian gold prices move in tandem, the rupee depreciation of around 6 per cent boosted the returns of gold back home.

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Smallcaps a very exciting space for the next 8-10 years: Axis AMC

‘Smallcap cos historically have not created wealth in India for various reasons’

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Irdai asks insurers to offer corona standard policy by July 10

The sum insurances for COVID Standard Health Policy could range from Rs 50,000 to Rs 5 lakhs (in multiples of Rs 50,000). The nomenclature of the product should be 'Corona Kavach Policy', succeeded by name of insurance company, the regulator said.

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How Sensex, US-dollar, 10-year G-sec performed during week ending June 25, 2020

Here is a weekly tracker of returns from Sensex, 10-year government bond yield and US dollar vis-a-vis Indian rupee.

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Employees allowed to claim I-T exemption on conveyance allowance under new tax regime: CBDT

CBDT has now amended Income Tax rules to prescribe certain exemptions which can be availed by the employees. These include any allowance granted to meet the cost of travel on tour or on transfer, any allowance, whether, granted on tour or for the period of journey in connection with transfer, to meet the ordinary daily charges incurred by an employee.

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President promulgates ordinance to bring co-operative banks under RBI supervision

​​ The Ordinance amends the Banking Regulation Act, 1949 as applicable to cooperative banks, an official statement said on Saturday. The amendments do not affect existing powers of the State Registrars of Co-operative Societies under state co-operative laws, it added.

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Petrol price up 25 paise, diesel 21 paise; rates hiked by Rs 9.12, Rs 11.01 in 3 weeks

Rates have been increased across the country but the final retail selling price differs from state to state depending on the incidence of local sales tax or VAT.

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Auto-debit of Atal Pension Yojana contributions will re-start from July 1

In April, the PFRDA had announced that auto-debits from APY subscribers' bank accounts would be halted till June 30, 2020. The decision was taken as majority of the subscribers belonged to the lower strata of society and suffered the most during the lockdown.

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Markets may remain volatile in near term, Nimesh Shah of ICICI Pru MF

"No one knows how long the pandemic related situation will continue and hence the fallout from this and the magnitude of economic impact remains hazy."

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Pay 10% fare now and get ticket: IndiGo launches flexible payment option

Passengers can defer the 90 per cent remaining payment "for a period of up to 15 days either from the date of bookings or before the date of departure" under this scheme, IndiGo said in a press release.

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EPFO may slash FY20’s interest rate; payout of 8.5% unlikely as PF contributions fall

EPFO may cut 8.5% rate declared for FY20 because of declining return on investments and cash flow.

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EPFO added just 1.33 lakh net subscribers in April

April was the first month of the nationwide lockdown imposed to prevent the spread of Covid-19 as a result of which all industries and establishments were shut down during this period, extending to May and June though it was partial in the third month.

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Aditya Birla Sun Life AMC onboards over 50,000 investors via video e-KYC during lockdown

To provide video e-KYC service, the asset manager had partnered Signzy to leverage its AI-based digital customer onboarding solution.

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Franklin’s shut debt schemes get Rs 1,964 crore from investments

Two of the funds featuring in the unusual list have repaid their loans to banks.

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Cyber attacks in India surge since lockdown

Internet service providers ET spoke with said they receive cyberattack alerts from corporate clients almost every alternate day compared with an average of once a week before lockdown was announced as part of measure to contain the spread of Covid-19.

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All transactions fully protected under RBI, NPCI guidelines: Google Pay

The statement comes against the backdrop of social media buzz that issues that might arise while transferring money through Google Pay cannot be redressed under law as the app is unauthorised. Google said RBI has not said that the Google Pay app is unauthorised or not legally compliant in its court hearing or in its written response to the Delhi High Court.

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Majority of investors trust Indian financial markets: Survey

The 'Trust Survey' conducted by CFA Institute polled 3,525 retail investors and 921 institutional investors in October and November last year.

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RBI asks banks, NBFCs to disclose digital lending agents upfront

To make digital lending more transparent, the Reserve Bank on Wednesday directed banks, NBFCs and digital lending platforms to disclose full information upfront on their websites to customers.

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Cooperative banks to be brought under RBI supervision

Urban cooperative banks and multi-state cooperative banks will be brought under the RBI supervision process applicable to commercial banks, Information and Broadcasting Minister Prakash Javadekar said while briefing media about the Cabinet decisions.

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Lenders prepare for rise in gold loan demand in FY21

​​Gold loans are a quick way for people to access cash when other avenues are not open," said CVR Rajendran, CEO at CSB Bank. Gold loans also are less risky for lenders as rising gold prices means the loan to value ratio is always kept in check.

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Maruti Suzuki rolls out loyalty rewards programme for customers

The loyalty programme – Maruti Suzuki Rewards- will cover all passenger vehicle customers from Arena, Nexa and True Value outlets, MSI said in a statement.

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Diesel burns hole in pocket, surpasses petrol in Delhi

In the Capital, diesel is now priced at Rs 79.88 per litre while petrol prices remains at Tuesday level of Rs 79.76 a litre. This makes diesel the most expensive auto fuel in the basket for the first time in the Capital.

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Nivesh Lakshya Fund is timing and interest-rate agnostic, says Prashant Pimple of Nippon India MF

Nippon India Nivesh Laksya Fund has caught the imagination of many individual investors. Many of them want to know the details of this long-term gilt fund. Most mutual fund advisors ask their clients to stay way from long-term debt funds, as these schemes are extremely sensitive to interest rate changes and one has to time the entry and exit in them to maximise returns.

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Sanjay Sapre of Franklin Templeton updates investors on shuttered schemes

Offering details of the ongoing cases in courts regarding the winding up of schemes, Sapre said all pending litigations would be transferred to the division bench of Karnataka High Court.

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Mutual Funds can’t pile up a rising RIL as stock holding limits play spoiler

They are unable to buy more shares of RIL due to mandatory limits on holding a particular stock.

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Small investors in India are latest to snag beaten-down stocks

First-time investors are piling into beaten-down stocks such as financials, telecom and pharma.

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Time to increase allocation to mid/small cap funds, says Pankaj Tibrewal of Kotak Mutual Fund

"If there is no financial exigency, one must continue with their SIP/STP right now to take advantage of lower market valuations and get the benefit of rupee cost averaging. To create wealth in the long-term, now is the time to take advantage of this situation."

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After CERT-In, now RBI warns consumers of phishing scams

"In recent days there are reports of users falling prey to fraudsters who are luring them on fictitious pretexts, such as alleged completion of KYC requirements, impersonating identities and websites of banks and payment system operators, etc,” the central bank said in a statement.

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YES Bank will not pay interest on bonds due on June 29

It did not give a date for the payment of interest.

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EPFO adds 1.39 crore subscribers in last two fiscals

"Recently published provisional payroll data by the EPFO highlights the ever growing trend of increasing subscriber base for EPFO, since the collation of payroll data from September 2017," the Ministry of Labour & Employment said in a statement.

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Interest on PPF, savings bank deposit to be included for calculating GST registration threshold: AAR

Under the Goods and Services Tax law, businesses and individuals are required to obtain GST registration if their aggregate turnover is Rs 20 lakh or more. AMRG & Associates Senior Partner Rajat Mohan said this ruling may lead to homemakers, retired persons and freelancers taking GST registration.

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Is it the right time to bet on smallcap stocks? Vinit Sambre explains

‘The category looks slightly better in terms of the valuation mix’

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RBI nudges banks to decide if red-flagged accounts are fraud

Last year, a spate of action by enforcement authorities resulted in many large borrowers being red-flagged. The RBI is now pushing banks to take a call on these loans. The red-flag account concept was introduced by the RBI to get banks to act on early warning signals, which include raids by regulatory and tax authorities.

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Govt extends Rs 50 lakh insurance scheme for healthcare providers till September

The insurance provides a comprehensive personal accident cover of Rs 50 lakh to a total of around 22.12 lakh public healthcare providers, including community health workers, who may have to be in direct contact and care of patients suffering from coronavirus infection and who may be at risk of being impacted by this.

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Select large-caps hit record highs as Street prefers strong fundamentals

Each of these stocks has gained in double-digits over the past three months

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Yes Bank, Affordplan launch co-branded cashless card for heathcare needs

In addition, Yes Bank's wallet has also been integrated on Affordplan Swasth to enable wallet QR scan for making payments to merchant partners empaneled on the app. People will be able to get a goal-based savings projection chart for medical treatment based on treatment input, access healthcare services and treatments at a discounted price.

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