Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Start 2017 with these five simple financial resolutions and you will put your family on solid ground financially, says D P Singh, executive director and chief marketing officer, SBI Mutual Fund.
Lenders fret over stubbornly weak credit growth and still high funding costs.
India saw growth of around 213 per cent in the number of real-time payments processed over the past year.
The 50-issue NSE Nifty too cracked the 10,200-mark and hit a low of 10,108.55 before finishing 104.75 points, or 1.02 per cent down at 10,121.80.
The government is not in favour of selling UTI Mutual Fund to a private player and has insisted that one of the existing sponsors buy it by this fiscal.
Although the pricing for the IPO is yet to be finalised, people in the know said the band could be Rs 275-300
The sentiment got support from better-than-expected earning results by select companies and continuous buying by domestic financial institutions.
Food delivery platform Zomato's initial public offering was oversubscribed on the opening day on Wednesday with retail investors bidding for 2.7 times the number of shares reserved for them. The offer received bids for 75.60 crore equity shares against an IPO size of 71.92 crore, stock exchange data showed. Retail investors sought 2.69 times the portion reserved for them. Against 12.95 crore shares reserved for retail individual investors, 34.88 crore shares were bid by 1700 hours.
Of the 30-share Sensex, 13 ended higher, while 17 led by Power Grid, Tata Steel, Bajaj Auto, Hero MotoCorp, NTPC, Tata Motors, Dr Reddy's, M&M, GAIL, Infosys and L&T finished lower, fell by up to 2.40 per cent
In the Sensex pack, Axis Bank, Tata Motors, Infosys, Kotak Bank, HDFC Bank, RIL, Bajaj Auto, SBI, HUL, Tata Steel, Vedanta, HFDC, TCS, ITC and Sun Pharma jumped up to 4.64 per cent.
Tata Motors, India's largest commercial vehicle maker, is in the process of raising Rs 5,000 crore through a bond issue to refinance the remaining $ 2 billion (Rs 10,000 crore) bridge loan it took to acquire Jaguar and Land Rover.
The NSE Nifty, comprising 50 shares, breached the 8,300-mark for the first time to hit a new lifetime high of 8,330.75.
Sources close to the development said a significant amount of around Rs 7,000 crore had been put into the SBI account with a proposal on escrow of the deposited funds.
Sectoral performance was mixed with media and PSU banking stocks attracting buyer interest and healthcare, FMCG and metal stocks bearing the brunt of the bears
Alleging some "motives" behind the series of developments at the carrier, Jet Airways Officers & Staff Association president Kiran Pawaskar demanded a probe, preferably by CBI.
While there's tax arbitrage advantage in ULIPs now, experts say investors should prefer mutual funds for long-term savings.
The RBI, which has no interest or mechanism to get feedback from bank customers, is unaware of this. If made aware, it remains silent, proving that it has no problem in allowing lenders to short-change its customers, says Debashis Basu.
Recent tribunal rulings open prospects of large haircuts and barriers to auctioning of personal guarantees, among other issues
Akanksha Mary Balmuchu from Jharkhand's Ho tribe is starting a Master's programme in climate change in the UK. When she walks into campus, she fulfils not only her dream, but that of her grandmother.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Kotak Bank was the top gainer in the Sensex pack, ending 4.31 per cent higher. PowerGrid, TCS, ICICI Bank, SBI, HCL Tech, NTPC, Infosys, Bajaj Finance, HDFC duo, ONGC, Vedanta and IndusInd Bank too rose up to 2.84 per cent.
The BCCI and its officials did not open a separate bank account in South Africa
The report has identified 29 instances where it appears that the loans disbursed to borrowers were in turn utilised by their group companies to repay the existing debt obligations with IL&FS Financial Services Limited.
Among the other conditions of the Hinduja group for picking up a stake in Jet is that bankers must take a haircut of 80 per cent and that they should help negotiate with operational creditors like aircraft lessors for moratorium on certain immediate payments.
Given the relevance of bank deposits for Indian savers, whether the regulator would permit linking savings interest rate to a repo-like structure needs to be seen, as a move of this nature could increase volatility in savings also.
Stung by the crisis arising out of the Syndicate Bank bribery case, lenders have gone into a fire-fighting mode to avoid fresh bad loans from their exposure to Bhushan Steel, one of the most indebted steel companies in the country.
Currently, banks follow system of internal benchmarks, including Prime Lending Rate, Benchmark Prime Lending Rate, Base rate and Marginal Cost of Funds based Lending Rate.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
In the Sensex pack, Bharti Airtel was the top performer, surging 4.61%. Other gainers included ICICI Bank, IndusInd Bank, L&T, Sun Pharma, RIL, HDFC duo, Tata Motors and M&M -- climbing up to 3.69%.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
"The central government had rescued other businesses by re-structuring debts to the tune of Rs 30,000-40,000 crore. Compared to this, the amount (debt) of Jet Airways was much smaller. Moreover there was a resolution (accepted) by the lenders to save jobs and to save the airline," Sharma said.
It's not necessary to use only external benchmarks, there are multiple avenues to meet the requirement that the RBI wants, the bank said.
Capt Gopinath, in a deperate bid to fend off a possible auction of his prime residential property in Bangalore by State Bank of India, which had earlier issued notices to sell his pledged properties to recover as much as Rs 259 crore (Rs 2.59 billion), has struck a deal with Sobha Developers to raise funds.
During the current financial year, 25 companies have raised Rs 28,220 crore through IPOs
Kharola leads from the front. As a team player, he also uses technology to improve processes whether it is training or assessing metrics, a key trait that would help to improve service quality of the national carrier.
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
The US FOMC concludes its two-day meeting today while the Bank of Japan will start its two-day meeting today.
Banks will need more funds, as they have to provide more capital.
'The rate of interest from the EPF is still attractive compared to the rates on fixed deposits, National Savings Scheme, Public Provident Fund...'
