Markets regulator Sebi on Tuesday directed asset management companies (AMCs) to disclose details of risk and performance of mutual fund schemes in all disclosures, including promotional material.
Investors looking for core international equity allocation can consider the passive new fund offer (NFO) of Mirae Asset S&P 500 Top 50 ETF or its Fund of Fund (FoF).
The change in stance happened after the Reserve Bank of India told banks that they no longer can use the regulator’s 2018 circular prohibiting dealings in virtual currencies, as the direction has been struck down by the Supreme Court, said people in the know.
Punjab National Bank (PNB) has launched a festival bonanza offer to enhance the availability and affordability of credit to customers, it said in a release.
Indians have invested $1.53 billion in debt, equities and bank deposits through the LRS since the pandemic-induced lockdown in March 2020, the highest since 2004-05 when the window was introduced, data on outward remittances released by the central bank showed.
Nine companies, including Aditya Birla Sunlife AMC and Utkarsh Small Finance Bank, are seeking to collectively garner about ₹12,500 crore in September, ending a brief interlude of relative calm between two frenetic bouts of initial share sales in Mumbai even as India’s broadest
As per a Madras HC landmark judgement, vehicle owners now have to purchase mandatory ‘bumper to bumper’ cover, which means that along with the compulsory third-party insurance policies, consumers would also have to purchase motor own-damage (OD) insurance, as well as accident covers for co-passengers.
Systematic investment plans (SIPs) in mid- and small-cap funds have made more money for investors than in large-cap, flexi-cap and value-oriented schemes in the past 15 years.
"If one reads Buffett’s annual letters from 1965 to 1994, that is where the actual Buffettology lies," market veteran Raamdeo Agrawal said.
In an official statement issued on Sunday, it said that till date, 93 per cent of the refund claims in Income Tax Returns filed for assessment year (AY) 20-21 have "already" been processed.
“Many bachelor tenants had moved to suburb after getting a good rental deal and bigger apartment. We are now seeing bachelor tenants looking to grab the best rental homes in the top cities as office re-openings bring the rental demand back,” said Amit Agarwal, NoBroker's Cofounder and CEO.
"Considering the difficulties being faced in issuing and amending Form no 3, which is a prerequisite for making payment by the declarant under Vivad se Vishwas Act, it has been decided to extend the last date of payment of the amount (without any additional amount) to 30th September, 2021," it said.
The Pension Fund Regulatory and Development Authority (PFRDA) has revised the guidelines on entry and exit following an increase in the maximum age for joining the NPS from 65 year to 70 years of age. The entry age for NPS has been revised to 18-70 years from 18-65 years.
Global economic recovery and increased industrial activity have helped platinum to gain more than 2% during the week. Here’s a weekly tracker of returns from alternative investments.
A group constituted by capital markets regulator Sebi has recommended that stock exchanges should have the discretion and investors be given the option as the country’s stock market moves to a quicker, ‘Trade-plus-One’ (T+1), settlement system .
The employment exchange, tentatively named SACRED, acronym for Senior Able Citizens for Re-Employment in Dignity, will start off as a facilitatory web portal, as per plans drawn up by the social justice and empowerment ministry. The interministerial committee formed to set up the exchange has approved Rs 10 crore for the purpose.
In a release, it also said a penalty of Rs 3 crore has been imposed on Transaction Analysts (India) Pvt Ltd for contravention of certain provisions of directions related to issuance and operation of prepaid payment instruments (PPIs), and Know Your Customer.
This has been done keeping in view the overall objectives of clean note policy and to ensure that all bank branches provide better customer service to people with regard to exchange of notes and distribution of coins, the central bank added.
"It is patently untenable order and would not stand legal scrutiny if the vehicle makers or any other aggrieved party goes on appeal," D. Varadarajan, a Supreme Court advocate specialising in company/competition/insurance laws, had told IANS.
“The soaring demand has been triggered largely by the fact that the Reserve Bank of India (RBI) has kept the repo rate unchanged at a constant 4%, allowing many banks to offer interest rates of less than 7% for home loans. This has also been a key driver in augmenting the demand for home buying,” the report said.
The New Fund Offer (NFO) of SBI Balanced Advantage Fund has made a new record. The NFO is the highest grossing among the equity NFOs till date.
Buying ability of consumers across the country has been significantly reduced due to the pandemic. They are either avoiding a single big payment or entirely skipping to buy any new item, Ezetap said.
The judge was allowing a writ petition from the New India Assurance Company Limited in Avalpoondurai, challenging the orders dated December 7, 2019 of the Motor Accidents Claims Tribunal, Special District Court in Erode.
The price of the numero uno digital token by market cap has once again hit the $50,000 mark, delivering more than 70 per cent returns from its recent lows of $29,000. Ethereum has risen about 80 per cent to $3,300 from $1,850.
Bank’s MD & CEO Mahabaleshwara MS said customers could buy the FASTag through online from the bank’s website or by visiting its branch.
It is possible that if the nascent global growth sustains and accelerates in 2022, earnings will catch up to justify lofty valuations. Even then, a sharp market correction is possible when the Fed begins normalization and bond yields rise. FIIs who are sitting on massive profits may turn into big sellers.
Here is a look at the five money tasks you must complete in the month of September to avoid penal consequences.
The Centre has also asked banks to increase the employer contribution to the pension corpus to 14%, from the current 10%
Data collated by Prime Database and ETMarkets.com for the seven-month period ended July threw up some fascinating insights on what has been shaping up the mutual fund space in the country.
Indians are flocking back to invest in cryptocurrencies as Bitcoin hit a three-month high of $50,000 on Sunday amidst the global crypto rush.
Commenting on the premium price reduction of ABSLI DigiShield Plan, Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance, said, "The pandemic lasted longer than expected with people experiencing strains on their personal finances. We have been meticulously observing the pandemic experience before making any price revisions in our products."
Finance minister Nirmala Sitharaman expressed “deep disappointment” over the glitches that continue to bedevil the income tax e-filing portal and ordered software provider Infosys to fix all issues by September 15.
Under the 'Special Revival Campaign', policies of specific eligible plans can be revived within five years from the date of the first unpaid premium, subject to certain terms and conditions, the insurer said in a release.
In a statement, the RBI said the inspection report of the bank based on its financial position as on March 31, 2019 revealed non-adherence/violation of specific directions issued to it under the Supervisory Action Framework (SAF).
In India, where cryptocurrency adoption is rising fast, businesses involved in the space are breaking away from the ideas of Satoshi Nakamoto — the pseudonym of the person who developed Bitcoin — to paint cryptocurrencies as an asset class.
Developed by Infosys, the new income tax e-filing portal "www.incometax.gov.in' has had a bumpy start from the day of its launch on June 7 as it continued to face tech glitches with users complaining that certain functionalities were either unavailable or working slow.
The beauty of Algo trading is that it comes with aspects such back-testing, where individuals can run their strategy and see potential outcomes.
This year has been calamitous for a lot of people and their finances, largely due to the impact of covid-19. The Life Freedom Index developed by HDFC Life dropped 4.8 points in 2021, indicating that the financial security of Indians had been hit.
The resurgence of Covid cases in the US and China has started threatening global recovery and this is helping safe-haven assets like gold.
"In Singapore and Germany, premium rates for a comparable cover are at least 20% higher than what one pays in India. This is why we see many non-resident Indians (NRIs) purchasing term life insurance cover in India."
The bank offers housing and car loans with interest rates starting from 6.90 per cent and 7.30 per cent, respectively.
Under the new norms, millions of card holders – both debit and credit – making payments online in 2022 may have to enter their 16-digit card numbers every time they make a payment online as opposed to just authenticating these transactions through the CVV (card verification value) and the one-time password (OTP) as is the current norm.
Cred Mint, launched in partnership with P2P non-bank LiquiLoans, will allow users to 'invest' their savings in a capital pool, which will then be used to on-lend to other customers on the platform seeking personal loans.
Data from the National Payments Corporation of India's (NPCI) National Automated Clearing House (NACH) platform showed that failure rates for debit transactions used for recurring debit payments, like equated monthly instalments (EMIs) and insurance, fell to 27.35% by value in July, down from 30.27% in June, indicating more payments were successful.
Electronic enforcement devices will be used for issuing challan according to the notification issued by the Ministry of Road Transport and Highways (MoRTH), under the amended Motor Vehicle Act 1989 for Electronic Monitoring and Enforcement of Road Safety.
Details from an ongoing internal investigation claimed that a 37-year-old clerk at EPFO’s Kandivali office used as many as 817 bank accounts, mostly of migrant workers, to fraudulently claim PF amounting to Rs 21.5 crore on their behalf.
The brutal second wave of the pandemic may have receded, but it has left behind a void for many families. Providing a glimmer of hope for them is Women in Tech’s ‘Family Find the Light’ (FFTL) programme, which is reaching out to people in need to not only motivate and train them, but also help them find jobs.
The basic bank account, without any charges or minimum balance requirement, drew a large number of women after the government announced its decision to transfer Rs 500 a month during the pandemic year to women accounts.
On December 3, in an unprecedented move the bank was barred from issuing new credit cards and launching any new digital products after multiple issues linked to digital banking, cards and payments on the bank's platform in the last two years.
"In three years, the numbers under non-government subscribers have actually more than doubled, the PFRDA Chairman Supratim Bandyopadhyay said.