The loss followed a massive fraud allegedly committed by Shivaraj Puri, a relationship manager at the bank's Gurgaon branch.
Banks and housing finance firms may seek legal mortgage as well as completion guarantee clause.
Mutual funds breathed easy today, with the flow into liquid and liquid-plus schemes soaring to Rs 30,000-35,000 crore. This is in contrast to the situation over the past few days when a liquidity squeeze caused by the Coal India issue soaking up cash forced companies and banks to withdraw money from mutual funds.
Divide your investments properly for self-consumption, growth and income. Life will be simpler.
The market regulator is working in association with exchanges and fund houses to iron out the technical aspects of such a system. According to the sources, a series of meetings have already taken place.
Sadly, so will lending rates. Do not hurry to put all your money in existing offers.
High deposit rates may put pressure on teaser home loan rates
There are just 10 mn MF investors compared to 60 mn homes with life insurance.
The government has increased the existing limit of the Employees Deposit Linked Insurance (EDLI) amount from Rs 60,000 to Rs 1 lakh. The amount will be paid to the next of kin of an employee in case of his death.
After banks, it's the turn of housing finance companies to have a more transparent regime for pricing of loans. The National Housing Bank (NHB), the regulator for these companies, is working on a system that is similar to the base rate regime introduced for banks recently.
Insurance and investment are two different needs. Then, there are Ulip pension plans with no sum assured. No wonder, there is confusion.
Delay your asset reallocation, take a call on debt after a few months.
With the financial year coming to an end, one needs to start proper planning for the new one.
Go for short-term debt funds and fixed deposits, delay home or auto loans.
Thirty per cent of the firms - mostly big companies - had no ceiling on the gratuity amount.
The common man's main grouse is high inflation numbers. But there are other anomalies as well that need to be addressed.
With necessity being the mother of invention, commercial property developers are going off the beaten track to meet the challenge of a huge sales slowdown.
Unlike fixed deposits or other recurring deposits, the rate will be reviewed every three months.
Don't make fresh lumpsum commitments, but continue with your SIP investments.
For an investor, gold is a necessity in the portfolio.
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