The violations by FT entities were serious and prejudicial to the interests of the investors and unitholders. The order underscored how FT entities’ actions were coloured by ‘self-interests’ leading to their key personnel and relatives redeeming their investments in these schemes before these were wound up. Retail investors are yet to get their full payments.
The CBDT has also advised authorised dealers to accept such manual forms till July 15 for the purpose of foreign remittances. The new portal was launched on June 7, which the tax department as well as the government said was aimed at making compliance more taxpayer-friendly.
This bonus issuance will benefit over 6,85,000 participating policyholders, a company release said.
The situation was likely to worsen this year as a decline in bank deposits in FY21 coupled with rising health expenditure would pile on the debt for households, the firm said in a report on Monday.
"In the aggressive hybrid category, we are currently the only fund with exposure to international equities. The international equity space itself has become increasingly relevant to Indian investors."
Short term weakness continued in gold. However, the interim short covering helped it to end the week on a flat note. Platinum remained range bound because the market participants were waiting for the US economic data.
New borrowers whose loans are sanctioned till August 31, 2021 will be eligible for the special offer provided the first disbursement is availed on or before September 30. The home loan rates now start from 6.66% for loans up to Rs 50 lakh for salaried individuals.
The ULIP insurance policies offer wealth creation alongside life cover. Part of the premium goes towards life cover and the rest goes towards a fund that is invested in equity, debt or a combination of both.
In terms of numbers, there were as many as 2.80 billion (280 crore) transactions during the month under review, as against 2.53 billion (253 crore) in May, according to the data.
The exchanges are struggling to cope after the central bank, the Reserve Bank of India (RBI), which has said it does not favour digital currencies, out of concern over their impact on financial stability, informally asked banks to steer clear.
Companies are increasingly nudging employees to get vaccinated so that they can reopen offices and resume normal operations in the next three-four months.
HDFC Bank is all set to return to the credit card market 'with a bang' once the Reserve Bank of India (RBI) lifts the ban on issuing new cards.
Data released by the Reserve Bank of India (RBI) also showed that credit to the household sector rose by 10.9 per cent on a year-on-year basis (YoY).