The product, named Saral Suraksha Bima, will have a maximum sum assured of Rs 1 crore and minimum Rs 2.5 lakh.
With inflation under control, the Monetary Policy Committee's (MPC's) job is to support growth because the economy had recovered well from the lows in the initial months of the pandemic, according to the panel's members, who met in the first week of this month. The minutes of the meeting show the Reserve Bank of India (RBI) governor in his statement said: "Given the sharp moderation in inflation along with a stable near-term outlook, monetary policy needs to continue with the accommodative stance to ensure that the recovery gains greater traction and becomes broad-based." Ashima Goyal, external member of the MPC, said: "The current macroeconomic configuration and its expected future evolution imply there is space for the MPC to continue to support the revival of the economy with inflation remaining in the target band."
The bond market is not in a mood to reason with the Reserve Bank of India (RBI) on keeping yields low. The 10-year bond yields continued to rise for the fourth straight session to close at 6.202 per cent from its previous close of 6.135 per cent. The yield was at 6 per cent a week ago. The RBI wants the yields to remain at 6 per cent, but bond dealers say the central bank will have to step up its bond-buying programme.
The BSE Midcap and the Small-cap Index have run up 25.3 per cent and 31.3 per cent respectively over the past year. Valuations are no longer cheap, notes Sanjay Kumar Singh.
'Do some profit booking and bring your equity allocation back to its original level.'
Stick to low-cost ULIPs launched in the past few years. Go with an insurer with a good investment team and solid track record of long-term returns, suggests Sanjay Kumar Singh.
The central bank bought the 10-year bonds at 50 paise above the prevailing rate, and brought down the yields from 6.08 per cent to 6 per cent mark.
Retail investors may safely invest in shorter-duration funds, suggests Sanjay Kumar Singh.
However, the RBI is still not in a mood to issue an OMO calendar, which was the expectation in some sections of the market.
Investing in the US market provides Indian investors a hedge against the rupee's long-term tendency to depreciate against the dollar.
While it took UPI three years to reach a billion transactions in a month, the next billion came in just a year. Digital payments, especially UPI, saw increased adoption in 2020 due to the Covid-19 pandemic.
The continuing fiscal stimulus is heavily tilted towards capex, to the extent that it chips away a part of revenue spending. Accounting for other areas of revenue expenditure, such as salaries, pensions, subsidies and defence (committed spend), the room to spend on welfare schemes, health and education will narrow in FY22.
Investors who cannot manage an asset-allocated portfolio or rebalance regularly, or do not have an advisor, may opt for these funds, but only after a detailed study of their strategy, suggests Sanjay Kumar Singh.
Digital lending apps extend small amounts at exorbitant rates. Payment delays invite messages to customer or close family members, often with sensitive information such as Aadhaar and PAN Card scans.
'This market is very expensive in some pockets, dirt cheap in some, and the belly of the market is reasonably valued.'
A user just needs to download any app floated by such fraudsters and apply for instant loans. These apps are mainly concentrated on Google Play considering the reach and popularity of Android systems.
The first and most important check you must run is to see if you have adequate life cover.
The hoarding of cash accentuated from the very start of 2020, when the coronavirus pandemic started taking hold the world over, and fear of the pandemic prodded people to remain liquid for emergency use.
These top two apps account for more than 78 per cent of the UPI market in terms of volume of transaction, and 86 per cent of the market by value of transactions in December.
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