Normally, equity futures trade at a premium to the underlying spot price — called cash and carry arbitrage. That is because the futures price equals spot price plus cost of carry, which is nothing but the interest rate to fund the purchase of shares minus dividend earned.
Savers ploughing money into shares hitherto ignored by the markets, and even into out-of-favour residential properties
The move is aimed at enhancing stock exchange scrutiny of brokers and comes as regulators and bourses have drawn criticism for the late detection of alleged acts of wrongdoing, such as those involving Karvy Securities and Anugrah Broking.
The amalgamation of LVB into DBS Bank India came into effect from November 27 under the special powers of the government and the Reserve Bank of India under Section 45 of the Banking Regulation Act, 1949.
Social distancing rules have forced consumers to rethink how they spend, with digital payments becoming an increasingly attractive. This shift in mindset is reflected in the growth in outstanding balances. Credit card outstanding balances increased by 32% y-o-y in July 2020. This compares to a 33% y-o-y increase in balances at the same time last year.
In the past two years, various fund houses have introduced index funds and ETFs that bet on various indices and asset classes. ET takes a look at four equity index funds recommended by financial advisors.
The company is leveraging the convenience of UPI infrastructure to offer a faster turnaround time reduced to 3-4 days for completion of the entire process.
ATM players say that the main reason is that over seven years, the number of debit cards in India has doubled to 86 crore as of September 2020. And of those cards, 35 per cent (30 crore) are RuPay ones issued to PM Jan Dhan Yojana accounts.
If you look at the EPFO payroll data since February, it showed there was a loss of employment in April and May. Since then, EPFO has seen net additions in subscribers, says Apurva Chandra.
"In view of the ongoing COVID-19 pandemic and the vulnerability of elderly population to coronavirus, the Employees' Provident Fund Organisation (EPFO) has extended the time limit up to 28th February 2021 for submission of Life Certificate (Jeevan Pramaan Patra-JPP) in respect of the Pensioners drawing pension under EPS 1995 (Employees' Pension Scheme-1995) and whose Life certificate is due in any month till February 28, 2021," a labour ministry statement said.
Here’s a weekly tracker of returns from such investments. But don’t compare these with returns from traditional investments since the proportion and purpose of alternative investments is vastly different.
"Foreign stocks have done well, especially those directed at the developed markets. While easy money policy is fuelling the rally in stock markets abroad, we may be reaching near-bubble valuations especially in the tech sector in the US."
Petrol price on Saturday crossed Rs 82-mark in Delhi and diesel surpassed Rs 72 a litre after eighth increase in rates in past nine days.
"In view of traffic disruption in NCR region due to closure of Delhi borders, we are allowing no-show waiver & one free reschedule to passengers who couldn't report for their flights," the national carrier said in a tweet on Thursday.
The regulatory setup needs to change to incentivise distributors to advise customers and make investment event based. SIP should be used only if you really have nothing to do with life and you do not like your money very much!
A CR official said passengers booking tickets through agents are unaware of the fraud and blame railway authorities when they don’t find their names on charts.
According to RBI data, there were 5.9 crore credit cards outstanding as of September 2020, up from 5.8 crore in March. In April, the number of outstanding credit cards had dipped to 5.7 crore as they were not getting replaced because of the lockdown.
These funds enable investors to do away with timing the markets as this strategy has built-in profit booking at higher equity valuations. We take a look at five dynamic asset allocation funds, based on recommendations by financial advisors:
PFRDA Chairman Supratim Bandyopadhyay said that even during the pandemic, there has been a steady growth of subscribers and the contributions have been stable.
“For the next six to 12 months, the benign interest rates environment will continue. The growth in the economy and the real estate has been sharp. The factors like the RBI infusing much needed liquidity into the sector, various concessions given by the government and the developers like the stamp duty relaxations have extended the best buying opportunity for the homebuyers. The trend will continue with the lowest interest rates regime,” Mistry said.
Shyamsunder Bhat, a market veteran, says for Dalal Street for achieve stability, both Covid vaccine and the availability of liquidity would be important.
However, payment of premium for existing insurance policies would not be covered under the LTC cash voucher scheme. "Payment of premium for insurance policies purchased during the period between October 12, 2020, and March 31, 2021, is eligible for reimbursement under the scheme," the Finance Ministry said.
Sharma said what these investing greats gave the investor fraternity was a personalised approach to investing, which is not a scalable way of looking at businesses or companies, because they exist in different geographies or markets.
The Sebi chairman also raised the concern relating to convoluted distribution of active investors throughout the country and said that SMARTs program would aim to address this concern by increasing investor outreach in far flung areas.
Many lenders, including IDBI Bank and Bank of Maharashtra, in regulatory filings on Wednesday said their normal working could be affected at the branches and offices. The All India Bank Employees' Association (AIBEA), All India Bank Officers Association (AIBOA) and Bank Employees Federation of India (BEFI) are participating in the strike.
A bulk of these schemes need the customer to visit crowded post offices to carry out transactions, since only limited operations can be done online. While banks have issued ATM cards to most of their customers, just 10-15% of India Post’s savings account holders have an ATM card.
Following the approval, DBS Group Holdings — Singapore's biggest bank — will take over Lakshmi Vilas Bank in a deal pushed by the RBI. This also marks the first instance when India has turned to a foreign entity to bail out a struggling domestic bank.
Mirae Asset Investment Managers India announced the launch of the Mirae Asset Banking & Financial Services Fund on Thursday.
"CBDT issues refunds of over Rs 1,36,962 crore to more than 41.25 lakh taxpayers between 1st April, 2020 to 24th November,2020. Income tax refunds of Rs 36,028 crore have been issued in 39,28,067 cases & corporate tax refunds of Rs 1,00,934 crore have been issued in 1,96,880 cases," the I-T Department tweeted.
The freelance earnings in India increased in the ongoing quarter of this financial year and have returned to pre-COVID-19 levels, according to a report.
Kedia says the more you fail in the market, the more you will learn. “That’s why failure is important in the equity market. It is important to stay on the pitch and play,” he says and admits that he too has a long list of failures in the stock market.
In the three-year and five-year time-frames, in the multi-cap category, the SIP returns of Parag Parikh Long-term Equity Fund have been considerably higher than the category average.
Winners held high cash levels when valuations outpaced conviction and moved in when prices fell; Pharma, consumption and IT paid rich returns for some
With the new additions, the total enrolments under the APY have crossed 2.63 crore, said the Pension Fund Regulatory and Development Authority (PFRDA) in the release.
Medical services providers are in great demand as the country faces a resurgence of Covid-19 cases.
The report forecasted that nearly 420 billion transactions worth USD 7 trillion, globally are expected to shift from cash to cards and digital payments by 2023 - and increase to USD 48 trillion by 2030. "In India, 66.6 billion transactions worth USD 270.7 billion are expected to shift from cash to cards and digital payments by 2023 - and increase to USD 856.6 billion by 2030," it said.
With this service in place, SBI Card Mastercard cardholders need not carry physical cards and can transact at any contactless point of sale terminal using their mobile. So, the cardholders enjoy the benefit of paying up to Rs 2,000 with just a tap on their mobile and for payments above Rs 2,000 they will need to enter their Card PIN on the terminal
The incidents happened at the erstwhile United Bank of India branches "The bizarre development came to my notice last night," said Abhijit Sen, a resident of Salt Lake who withdrew Rs 30,000 from a branch in his locality on Monday morning. He got a message later in the day saying the bank deducted Rs 6,000 as TDS.
Franklin Templeton Mutual Fund has approached the Supreme Court to seek clarity on aspects of the Karnataka High Court order on the closure of its six debt schemes.
The policy provides insurance coverage of gold jewellery for individuals. This is designed to provide insurance coverage of gold jewellery articles for customers of the company at the time of closure of gold loan and release of gold ornaments. It will provide insurance coverage to the customers of Muthoot Finance as a loyalty product.
The new framework would be applicable to a public issue of debt securities which opens on or after January 1, 2021, the Securities and Exchange Board of India (Sebi) said in a circular.
The regulator has sought details behind the data centre outage that meant services on the Unified Payments Interface (UPI), ATMs and card channels were unavailable for several hours.
B30 (beyond top 30 cities) accounted for 16 per cent of the total industry Average Assets Under Management (AAUM) in October this year, and the balance was contributed by T30 cities, or the top 30 locations in India, the Association of Mutual Fund Industry (Amfi) said.
At leading brick-and-mortar retail chains including Reliance Retail, Tata-owned Croma, Vijay Sales and Sangeetha Mobiles, too, debit and credit cards, wallets, UPI and consumer finance together have become the choice for payment by consumers.
Sebi Chairman Ajay Tyagi said trends in the participation of retail investors are encouraging in terms of growth in the number of demat accounts as also mutual fund portfolios.
Of these, nearly 1.31 lakh new medical claims worth Rs 1,761 crore have been filed in less than 30 days — during the peak festive period — between October 20 and November 18, the data further showed.
The EPFO has emphasised that the dataset published regarding contributory members and establishments does not match with the official data of the organisation for any of the wage months mentioned.
The apex court was hearing a batch of petitions relating to charging of interest on interest by banks on EMIs, which were not paid by the borrowers who availed of the loan moratorium scheme in view of the pandemic.
Zerodha now has a platform to gift stocks, ETFs, and gold bonds to your friends and loved ones
The pre-approved customers of ICICI Bank can buy electronic gadgets or home appliances from the leading retail outlets just by using their PAN and mobile number instead of a mobile wallet or debit/credit cards.