For Indian parents, sending a child abroad for a three-year degree could deplete 48% of their retirement savings, while a four-year degree may consume up to 64%.
'India represents one of the top opportunities with robust growth, solid fundamentals, and openness to foreign investment.'
'...The talk before the tournament was 'we have set the standard and we want to raise that further.'
Indian fintechs and associated entities are hoping that the Union Budget 2024 will provide a boost and empower firms to extend their reach beyond Tier-II regions, with an emphasis on supporting enterprises led by women. The fintech industry, which has witnessed regulatory reforms over the last year, expects the Budget, scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1, will further encourage financial inclusion, empower micro-small-medium enterprises (MSMEs) with lending solutions, and push for upskilling initiatives for the country's young workforce.
For over a decade, HDFC Bank consistently outperformed industry growth rates in both deposits and advances, maintaining impeccable asset quality. Amid a landscape where other banks struggled with soaring non-performing assets (NPAs), HDFC Bank thrived, eventually surpassing ICICI Bank to become the largest private sector lender in India. Its net interest margin (NIM) remained stable in the range of 4.1-4.4 per cent.
Rediff.com spoke to registered investment advisors to figure out how best the extra Rs 17,500 saved ever year can be invested to create a decent corpus in the years ahead. This is what they said.
Anil Agarwal-owned Vedanta Resources (VRL), which has hired Standard Chartered Bank to raise funds for its Konkola copper mine assets, says it is engaging with several potential partners for both short-term funds and long-term equity financing for the Zambian project. A Vedanta official said its commitment to optimising capital allocation and driving expansion is a key cornerstone of its strategy for the mines. It will enhance value creation and operationalise the Konkola Copper Mines (KCM).
'There is no immediate threat to the government, and they would prefer the growth agenda.'
"I always believed that I would get another chance. I didn't know how to be honest as the Indian pacers were doing well over the past three to four years. I was getting inspired watching them, to be honest."
All eyes are now on the Sena factions, led by CM Shinde, backed by the BJP, and his predecessor Uddhav Thackeray, and their performance in the coastal belt in the November 20 polls.
'Our preference remains for the less-expensive industrial stocks, which are showing good earnings momentum.'
The festive season starts from August and last till December.
After several years of downgrades to the country's medium-term growth outlook, the estimates are likely to be upgraded now, Credit Suisse said in a report. The country's economy is showing signs of bottoming out, it said. According to the report, the consensus forecasts of GDP growth for FY2022 over FY2020 stopped falling after October 2020 (currently at (-) 1 per cent). Analysts at Credit Suisse expect these estimates to be revised upwards.
'With tuition fees for international students rising, education loans have become critical for bridging the gap between savings, scholarship, and full cost.'
In mid-March this year, the finance ministry asked state-run banks to review their gold loan portfolio for the two-year period between January 1, 2022, and January 31, 2024. This business had grown at a fast clip. Reserve Bank of India (RBI) data has it that it grew 15 per cent to Rs 1 trillion in FY24. Now, in recent times, any kind of exuberance in financial services has seen the authorities swoop down - be it pushing the lines on governance or unsecured credit.
Mortgage finance remains a structural growth opportunity in India with a policy focus on affordable housing, housing shortages, low mortgage penetration, and rising incomes as drivers. Affordable Housing Finance Companies (AHFCs) serve the mass market, low-income segments, which is the least-serviced category, and to operate in this segment, the mortgage provider needs good assessment skills. AHFCs and HFCs have also been increasing exposure in other mortgage segments (loan against property, developer loans among others).
Five Parliamentarians from Karnataka including Janata Dal-Secular leader and former chief minister H D Kumaraswamy, Bharatiya Janata Party leaders Nirmala Sitharaman and Pralhad Joshi, who were part of the previous Cabinet, on Sunday took oath in the new National Democratic Alliance Council of Ministers headed by Prime Minister Narendra Modi.
It is to be seen if SBI under Setty, who will have a three-year term, can ride the economic cycle to take SBI to new heights, navigating some of these challenges.
The 38-year-old Haryana boxer won a bagful of medals between 2006 and 2014, including a bronze at the 2008 Beijing Olympics and the 2009 World Championships, before turning professional.
The two-wheeler segment has shown signs of recovery in the first half (H1) of calendar year (CY) 2024, largely driven by improving performance in rural areas. According to the Federation of Automobile Dealers Associations, rural contribution to two-wheeler sales surged by 57-60 per cent in the April-June quarter of 2024-25, indicating a rising demand in these regions. Experts believe that this trend will continue, supported by a favourable monsoon season and government initiatives aimed at rural development.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
The Reserve Bank of India on Friday revised upwards the GDP growth projection for the current fiscal to 7.2 per cent from 7 per cent on rising private consumption and revival of demand in rural areas. Unveiling the bi-monthly monetary policy, RBI Governor Shaktikanta Das said estimates released by the National Statistical Office (NSO) placed India's real gross domestic product (GDP) growth at 8.2 per cent in 2023-24. "During 2024-25 so far, domestic economic activity has maintained resilience," he said, adding that manufacturing activity continues to gain ground on the back of strengthening domestic demand.
Domestic air passenger traffic grew 5.1 per cent year-on-year to an estimated 138.9 million in May and was significantly higher by around 14 per cent than pre-Covid levels, credit ratings agency Icra said on Thursday. Icra also said the outlook on the Indian aviation industry is stable amid the continued recovery in domestic and international air passenger traffic with a relatively stable cost environment and expectations of the trend continuing in FY2025.
'We do not believe in fire sale. We don't do it.'
rediffGURU Samkit Maniar answers readers' personal income tax queries.
Ratan was extremely ethical in his dealings, which he brought to bear on the business house which he helmed, remembers Sailesh Kottary.
Mahindra & Mahindra on Friday said it has been imposed a penalty of Rs 4.12 crore over input tax credit claim and education cess credit balance carry forward from pre-GST regime to GST regime in relation to its two-wheeler business. In a regulatory filing, Mahindra & Mahindra said it has received an order from the office of the Deputy Commissioner, State Tax, Audit Wing, Indore-01, Madhya Pradesh imposing a penalty amounting to Rs 4,11,50,120 to the two-wheeler business of Mahindra Two Wheelers Ltd (MTWL), which was demerged from MTWL and has since been merged with the company.
When it comes to the Congress and Wayanad, the only way the scepticism in the minds of some in Kerala may be addressed is by the Gandhi family proving that they are more than a passing caravan in town, reports Shyam G Menon.
I like it when people expect me to win matches, don't take it as pressure: Yash Thakur
'It is nice that the banking system is in good shape.' 'It is a little early to call it too good because I think it was too bad in the past.'
'If the portfolio growth rate is higher, take this loan. If it is lower, liquidate your investments.'
HDFC Bank on Monday said it aims to regain the two per cent market share in the credit card market it ceded to rivals during a recent ban, within a year by aggressively tapping into its existing depositor base. The bank will also focus on forging new partnerships to sell more cards and will not deviate from its conservative approach on taking credit risks as it goes aggressive in the market, its group head for payments and consumer finance, digital banking and IT, Parag Rao, told reporters. On August 17, RBI lifted the ban on HDFC Bank which had prevented it from issuing new credit cards from December 2020.
Defending champions England stormed their way to a crushing eight-wicket victory over the West Indies.
Standard Chartered's India strategy will focus on wealth management while credit card will remain core to its business though will avoid competition with the country's private banks, said a senior executive of the British lender. "Our focus on wealth management and affluent clients are central to our existence. "We are strong in these areas and we want to grow in these areas.
The Aam Aadmi Party led by its chief minister designate Atishi staked claim to form a new government in Delhi on Tuesday shortly after Arvind Kejriwal resigned from the post, an effort seen as a bold gambit to seize the initiative ahead of assembly elections due in five months.
Shigeru Ishiba is expected to prioritise strengthening Japan's military capabilities and fostering deeper international partnerships, particularly with India, with whom Japan shares significant strategic interests, explains Dr Rajaram Panda.
Sheikh Hasina, who was elected for a record fourth consecutive term and fifth overall term this year, was always admired by her supporters as "Iron Lady", before the dramatic development that abruptly ended her 15-year-rule in Bangladesh.
Global fund managers remain bullish on the Japanese stock markets, which is now their most preferred destination in the Asian region. Both Morgan Stanley and Jefferies in their recent reports, have cited their preference for the Land Of The Rising Sun, which is fast becoming the land of the rising equities, too.
'In the middle, he just seemed to have lost touch...So at the end of the day, when he gets out...when you are facing the strike in the first ball of the innings and you get out in the 14th or the 15th over, you have got a strike rate of 118, that's not what your team expects from you.'
By taking the mutual fund route, investors can take exposure to gilts with small amounts. Over a decade or more, returns from these funds tend to be sound.
