Financial planners also point out that after the Franklin episode, investors were reluctant to put money into debt funds, with many of them preferring to put money in bank deposits.
The Reserve Bank of India (RBI) had imposed restrictions on the withdrawal of deposits from these stressed banks. Of the 20 banks, 10 are from Maharashtra, five from Karnataka, and one each from Uttar Pradesh, Kerala, Rajasthan, Madhya Pradesh, and Punjab.
Debt funds are mutual funds that invest the investors’ money in fixed-interest generating securities, including government and corporate bonds, debentures, and other money market instruments. Debt funds are also often considered safer as opposed to the volatility that the equity market brings since debt funds come with lower risk albeit lower returns.
Many Indians may have become crorepatis at least on paper due to Shiba Inu, say industry trackers.
Gold prices inched up closer to a four month high on worries that the US Fed may not be able to bring inflation under control.
“Low government expenditure on health has constrained the capacity and quality of healthcare services in the public sector. It diverts the majority of individuals – about two-thirds – to seek treatment in the costlier private sector,” the NITI Aayog has said in its report on Health Insurance for India’s Missing Middle released on Friday.
The banking sector took the most hit with SBI, HDFC Bank, ICICI Bank and Axis Bank falling between 3% and 4%. Mutual funds investing in banking sector saw a dip in returns.
SBI Mutual Fund's newly launched Balanced Advantage Fund has garnered record inflows worth Rs 20,000 crore. This huge AUM has come into the fund in less than three months since the NFO was launched in August.
The hike, which will be effective from October 1, will result in an increase in the minimum wages for central sphere employees and workers.
The move is expected to leave EPFO with a surplus of Rs 300 crore compared to the preceding financial year when it had a surplus of Rs 1000 crore.
More than 80% of the respondents surveyed say that Covid-19 has been a wake-up call for them, to get their personal finances in order and to course correct for better financial health.
RBI has stopped automatic recurring payments for all services offered by various companies such as Amazon, Netflix or several applications or apps. This would mean that money cannot be directly debited from a customer’s credit card or bank account without his permission.
With increased interest and focus on investments in the ESG space globally, Asset Management Companies (AMCs) in India have also been launching equity schemes in the ESG space under the thematic category.
The hike will also apply to civilian employees paid from the Defence Services, while in respect of Armed Forces personnel and Railway employees, separate orders will be issued by the Defence and Railways Ministry, respectively.
Central banks should not fear the rise of cryptocurrencies. There are several different use cases of CBDCs and cryptocurrencies, and both have immense potential to co-exist, and grow. Obviously, there are few areas of overlap, in which competition will be good to benefit the users.
Earlier, as a part of festive offers, the Bank of India had announced a 35 basis point reduction in its home loan interest rates and a 50 basis points in vehicle loan interest rates.
The latest research by ACI and YouGov finds that digital payments continue to be the payment method of choice for festive season spending, with 41% of consumers choosing it as their preferred payment method, comfortably ahead of cash (26%) and debit and credit card payments (23%).
The last date for filing the tax audit report for the 2020-21 fiscal is January 15, 2022. For fiscal 2019-20 i.e. AY 2020-21, limit was Rs 5 crore for businesses and Rs 50 lakh for professionals and due date for original tax audit report was January 15, 2021.
The study conducted by Wise, a global technology company, revealed that between 2016 and 2020, the annual amount Indians lost in fees and exchange rate mark-ups increased from Rs 187 billion to Rs 263 billion.
"The partnership aims to facilitate HDFC's home loans to customers, especially in unbanked and underserved areas with many of them having little or no access to finance, to fulfill their dream of owning a home. IPPB will offer housing loans through nearly 190,000 banking service providers (Postmen and Gramin Dak Sevaks)," it said.
“There had been heavy rains in the last two months which have impacted both onions and tomatoes. The onions that were stored got damaged due to rains, which has impacted the price,” Vegetable Growers Association of India president Shriram Gadhave told ET.
Investors are increasingly seeing a large number of new fund offers (NFOs) from the passive fund space. NFOs of at least six passive funds are now open for investors. Several more are lined up from new entrants such as NAVI MF and established players such as HDFC MF and Mirae MF.
A sharp reversal in the recent run-up in smaller stocks has caught hordes of retail investors on the wrong foot. Brokers say the intense sell-off in several small-cap and penny stocks in the past week or so has led to volumes drying up, resulting in investors facing the risk of holding the duds at higher levels.
According to the report, 60% of the enrollments were made by learners to hone new-age trading skills practically, which indicates a growing risk appetite, interest in unconventional ways of saving, and willingness to build a hefty corpus over time.
Industry trackers say that the way Indians are warming up to crypto assets as well as decentralised finance, remittances through crypto assets is only set to grow, especially because transferring smaller amounts can be expensive through the traditional services.
Although gold will see wedding-related demand during the festive season, the yellow metal in the physical form may not be the preferred choice for people this Dhanteras and Diwali to bring prosperity to their homes, say bankers and trade analysts.
The result is that the Indian stock market is now dominated by retail investors. The NSE alone saw retail investors share grow from 33% in 2016 to 45% in 2021. The interest isn’t abating either, with monthly registration of new investors increasing to an all-time high of 1.5 million in June 2021.
According to the survey, the percentage of households planning to spend during festive season 2021 jumped from 30 per cent in May 2021 to 60 per cent in September 2021, as COVID-19 cases drastically reduced and economic certainty improved in these four months.
The bulk of the lenders filling up the rosters of prominent P2P platforms are return-hungry retail investors and traders with surplus cash flows. Low fixed-income returns prompting these high net worth individuals and family offices are writing large cheques favouring borrowers on these platforms.
While rate hikes fears pulled gold down, the same did not happen with silver and technical factors helped silver to go up. The scope and attractiveness of these alternative investments is increasing.
The broader mid-cap and small-cap rallies may be over, but there are stock-specific opportunities still to be found in that space, Mihir Vora, Senior Director and CIO, Max Life Insurance, tells ET Wealth. Read the full interview below.
The company is the first digital payments app to have started charging for UPI-based transaction which is being offered for free by its competitors.
The income tax portal will undergo a scheduled maintenance activity during a particular period of time this weekend.
New investors are queuing up to put money into equities in the wake of the strong bull run in the past 18 months. Stock exchanges have witnessed more than 34.5 lakh fresh investor additions in the past month and 95.95 lakh in the previous three months, according to BSE data.
Passive assets will grow to constitute 37 per cent of the overall assets in the mutual fund industry by 2025, from 10 per cent as of March 2021.
The RBI’s guidelines, which went into force this month, have disallowed recurring card payments without a one-time registration.
"CBDT issues refunds of over Rs 92,961 crore to more than 63.23 lakh taxpayers from April 1, 2021 to October 18, 2021. Income tax refunds of Rs. 23,026 crore have been issued in 61,53,231 cases and corporate tax refunds of Rs. 69,934 crore have been issued in 1,69,355 case," the Income Tax department tweeted.
In a welcome development for government employees and pensioners, the Centre has cleared a 3 per cent hike in Dearness Allowance and Dearness Relief.
While Indians score poorly when it comes to retirement savings, those who do save show an inclination towards safe and assured return products
A look at the Bitcoin options market could provide a clue on how to go about your own positioning in the cryptocurrency.
Kotak Mutual Fund has decided to merge Kotak FMP Series 246 into Kotak Corporate Bond Fund. The fund house has sent a letter to the investors informing them about the decision.
Those affected also include providers of software as a service (SaaS) facilities, media platforms and even telecom companies that generate revenues through subscriptions based on one-time mandates.
The RBI informed that on examination of Paytm Payments Bank Limited's application for issue of final Certificate of Authorisation (CoA), it was observed that PPBL had submitted information that did not reflect the factual position.
Net subscriber addition increased by 12.61% as compared to July 2021, a labour ministry statement said. Nearly 5.62 lakh net subscribers exited EPFO, due to job change, but later rejoined.
Aditya Birla Sun Life Mutual Fund has launched the Aditya Birla Sun Life Nifty IT ETF, an open-ended exchange traded fund that will track the Nifty IT TRI.
Mirae Asset Mutual Fund has informed that the fund house has crossed a milestone of Asset Under Management (AUM) of INR 1,00,000 crore as on 14t October 2021.
Bharat 22 ETF has beaten the large cap average returns by more than 40%. The second topper in the list- Quant Focused Fund - has offered around 78% returns in one year.
The government's initiative on National Infrastructure pipeline provides long-term visibility on spending in key sectors.
In the long-term too, gold faces challenges as households are saving proportionately less than they used to, which may reduce the amount of capital they allocate to gold, said WGC report.
Announcing the launch of 'Dil se Open Celebrations : kyunki Diwali roz roz nahi aati', the bank said it will offer deals and discounts on shopping in restaurants and other retail loan products on purchases made through Axis Bank debit and credit cards.