Reacting to RBI's in principle approval to Centrum Financial Services, NCUI President Dileep Sanghani in a statement said, "This is indeed welcome. However, it should be ensured that all the depositors should get back their deposits without any conditionality."
As per the labour ministry’s provisional payroll data, of the 1.27 million net subscribers added during the month, around 0.68 million new members have come into the social security coverage of EPFO for the first time.
While the pandemic has given a big fillip to ESG investing, it has also resulted in some parts of the investment community seeing it as a fad. The monstrous rally seen in sectors such as steel, energy and power over the past 12 months has been used by some as evidence that sustainable investing is just a trend. This notion has been given some credence by the likes of Warren Buffett and Charlie Munger investing in energy companies over recent years.
“The Employees’ State Insurance Corporation, do hereby notify the scheme ESIC COVID-19 Relief Scheme under Section 19 of the Act as a welfare measure in case of death of insured person due to COVID-19,” the ministry said in the notification. The labour ministry has sought suggestions on the scheme within a month.
According the AMC, the ex-date and record date for the split is set as 17 June and 18 June respectively.
What one forgets is the foundations of personal finance. What is the point of making 100% returns if that money is still not enough to pay the ICU bill?
The fear that the US Fed will increase rates sooner than the expected due to rebound in the economy and inflation worries pulled down the gold prices by 2%.
HDFC Bank, which issues nearly 150,000 credit cards a month, was directed by the RBI in December to stop issuing fresh cards until it had sorted out its tech problems. The bank also couldn’t launch any new digital initiatives. In February, the regulator appointed an external firm for carrying out a special audit of HDFC Bank’s IT infrastructure. The report was submitted last month.
Inflows into equity funds improved to Rs 10,083 crore in May from Rs 3,400 crore in April.
Value funds are back in action in the last six months. Value stocks have outperformed their growth peers after a long underperformance in the last two years.
Bank deposits -- having a share of around 55 per cent in total assets of households -- decelerated by 0.1 per cent at end-April 2021 on a m-o-m (month-on-month) basis as against a growth of 1.1 per cent in April 2020.
“As the lockdown conditions ease and economic growth revives leading to a pickup in the credit demand, banks will need to mobilise deposits, which can possibly come at slightly higher rates than what they now are,” said Anil Gupta, vice president, sector head – Financial Sector Ratings, ICRA.
Investor interest in the mutual fund industry as an avenue to generate long term wealth creation is rising with SIP's asset base touching an all-time high of Rs 4.67 lakh crore at May-end.