Asset-weighted returns of large cap funds lagged their benchmark by 273 basis points, ELSS funds by 318 bps and mid- and small-cap funds by 230 bps.
Equity mutual funds attracted Rs 8,898 crore in July, a 43 per cent decline compared to the preceding month as markets continued to remain volatile amid concerns over inflation and rate hike expectations. For the 17th straight month, equity mutual funds witnessed inflows in July. The net inflows in July were lower compared to Rs 15,495 crore seen in June, Rs 18,529 crore in May and Rs 15,890 crore in April, according to data released by Association of Mutual Funds in India (Amfi) on Monday.
In April, the SIP contribution was Rs 11,863 crore.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
Singapore-based e-commerce platform Shopee - that launched in India only in December 2021 - has decided to close operations in the country. The official reason given by Shopee, which is controlled by NYSE-listed Sea Ltd, is changing global sentiments. In a statement, it said, "In view of the global market uncertainties, we have decided to close risks of our early-stage Shopee India initiative." The e-commerce platform has been hit by growing opposition from trade associations led by Praveen Khandelwal as well as homegrown social commerce start-ups.
'Who would think of making a bank of poor women? She had vision and boldness.'
In his latest monthly radio address, Mann Ki Baat, Modi said that India is capable of providing solutions to the varied challenges being faced globally.
The Naresh Chandra Committee has laid down stringent guidelines defining the relationship between an auditor and its client.
The federal agency has filed a complaint under the criminal sections of the Prevention of Money Laundering Act (PMLA) after studying at least two police first information reports (FIRs) and subsequent charge sheets before a court.
Continuing its heavy selling spree for the eighth consecutive month, foreign investors pulled out nearly Rs 40,000 crore from the Indian equity market in May on fears of an aggressive rate hike by US Federal Reserve that dented investor sentiments. With this, net outflow by foreign portfolio investors (FPIs) from equities reached at Rs 1.69 lakh crore so far in 2022, data with depositories showed. Going ahead, FPI flows will remain volatile in the emerging markets on account of rising geo-political risk, rising inflation, tightening of monetary policy by central banks, among others, Shrikant Chouhan, Head - Equity Research (Retail), Kotak Securities said.
While investing in PPF, investors must remember to put in the money at the right time to maximise the return they earn from it.
Japanese auto major Nissan on Wednesday said it is discontinuing Datsun brand in India, nine years after the company kicked off the marque's global relaunch in the country. Having failed in its ambitious global relaunch of Datsun, Nissan had in 2020 discontinued the brand in Russia and Indonesia, the other two countries along with South Africa and India which were marked as key markets targeting the entry level car segment. Confirming the move to discontinue the Datsun brand, Nissan India in a statement said, "Production of Datsun redi-GO has ceased at the Chennai plant (Renault Nissan Automotive India Private Ltd). "Sales of the model still continue (till the stock lasts)."
Congress sources told ANI on the condition of anonymity that 'Rahul Gandhi left the country on May 19 to participate in various public programs in London that were held on May 20 to May 23. Since then, he has not returned to India'.
In the early part of 1800, a 30-acre plot next to Fort Gloster on the banks of river Hooghly in Howrah district of Bengal was the nerve centre of industrial activity; it housed India's first steam-powered cotton mill, Bowreah Mills, which was set up by a British merchant and went on to become a hub of factories - a rum distillery, foundry, cotton yarn factory, an oil mill and a paper mill, et al. Spearheaded by Dwarkanath Tagore, the industrialist grandfather of Rabindranath Tagore, the commercial complex was possibly the first of its kind in the country. Close to 200 years later, after much ebb and flow of history, the hub is set for a resurgence of sorts.
Shah said that the people of the country will decide about the principal opposition party to BJP in the 2024 polls and they have not given this label to any party.
Last year in January at Amazon's flagship event Smbhav, Infosys Co-founder N R Narayana Murthy had to shorten his keynote speech from 20 minutes to about five because the event was delayed by 1.5 hours. "I will try to finish it in five minutes, because I am not used to delays," said Murthy, while addressing hundreds of micro, small and medium enterprises (MSMEs) about building businesses that last. In the audience was Amazon founder Jeff Bezos. Murthy referred to Bezos' prediction that the 21st century will be the Indian century. "That confidence enhances our enthusiasm," said Murthy. The relationship between Murthy and Bezos dates to 2014, when Prione, a 49:51 joint venture (JV) between Amazon and Murthy's venture capital company Catamaran, was formed.
Siddhesh Kamble alias Mahakal, an alleged member of the Lawrence Bishnoi gang, has told investigators that Bollywood filmmaker Karan Johar was on the list of persons whom the gang planned to target for extortion, a police official said.
Passengers complained that they had to wait a long time for Ola and Uber cabs, and added that those were available at inflated rates.
With a million-odd electric vehicles (EVs) - two-wheelers, e-rickshaws, buses and passenger cars - expected to hit the road this calendar year, the shift from gasoline-powered vehicles has become irreversible. Now the question is whether the supply chain is ready for this shift. Key components - the high-powered lithium-ion battery and the cells which go with it, the electric motor, and the electronics powered by chips - account for nearly 60 per cent of the cost of an EV.
New proposals like booking of retailers selling loose cigarettes and 7 years of imprisonment, are unacceptable, traders argued.
The group has called for a retaliatory tariff action against India, if New Delhi does not roll back the 'unilateral and discriminatory' equalisation levy or Google Tax.
India's largest traders' association CAIT on Tuesday said few multinational e-commerce giants with a heavy arsenal of funding are attempting to flout foreign investment guidelines for the sector and demanded strict enforcement action. Releasing a whitepaper on the e-commerce policy, the Confederation of All India Traders (CAIT) said e-commerce entities have "structured their relationship as marketplace with sellers in a such a way that they are in a position to control either seller on their platform or the inventory and also escape the scrutiny of the enforcement agencies." "Under the guise of such control or ownership over sellers, the issue also permeates from being a mere FDI policy violation to also being an anti-competitive conduct," it said.
'Whatever I did, I did for the farmers and whatever I am doing, I am doing for the country'
'I have played two World Cup finals but couldn't win the trophy. That remains my only regret.'
After the Ukraine war, coke prices just soared and most units don't have money left to buy raw material. Customers are not absorbing the price escalation'
Despite the demonetisation of 2016 and the rise in digital transactions that followed, the economy's dependence on cash has remained as high as ever. So when the Reserve Bank of India (RBI) introduced a pilot project of its version of digital cash - called the central bank digital currency (CBDC) - on December 1, many questions were asked. Can the CBDC replace physical cash, even partially? Can it match cash in terms of convenience? Are CBDC transactions truly anonymous?
The launch of Polar Satellite Launch Vehicle (PSLV-C52) is scheduled at 05:59 hours on Monday from the First Launch Pad of Satish Dhawan Space Centre, Sriharikota, the Bengaluru-headquartered space agency said.
The government has notified a host of procedural changes in the GST rules, including levy of interest for wrongful utilisation of ITC and turnover threshold for filing annual returns for the 2021-22 fiscal. The changes were vetted by the Goods and Services Tax (GST) Council at its meeting last week. With the amendments notified by the Central Board of Indirect Taxes and Customs (CBIC), businesses have also been allowed to make tax payments on the GSTN portal by using IMPS and UPI payment modes.
Social media allowed them to connect even more directly with potential clients, and gave them multiple new marketing and outreach channels, explains Devangshu Datta.
'If you persist in opposing the government, they set the ED or the NIA on you. And the courts have not given us much hope.'
Any city that imposes a ban on food of any kind to appease the sensibility of a particular religion has lost any right to be called cosmopolitan and progressive, feels Tanmaya Nanada
Unless controlled and contained, given the untested belief that the north Indian labour support and follow the Hindutva kind of political ideology, there is a potential in terms of ideological clashes with their Dravidian brethren in the local neighbourhoods, and it all escalating into violence, especially during election time, predicts N Sathiya Moorthy.
E-commerce firms Amazon, Flipkart, and others are expected to witness blockbuster festival season sales of around $9 billion this year, surpassing pre-pandemic sales of $5 billion in 2019. The pandemic has accelerated the shift to e-commerce, with more consumers shopping online at a higher frequency than last year, observed analysts. This year's festival sales (gross merchandise value or GMV) are expected to grow 30 per cent year-on-year (YoY) to $4.8 billion during the first week of the season and potentially clock over $9-billion GMV during the whole festival month, revealed consulting firm RedSeer's e-commerce festival season report.
Investor interest in the mutual fund industry as an avenue to generate long term wealth creation is rising with SIP's asset base touching an all-time high of Rs 4.67 lakh crore at May-end. Over the past five years, the systematic investment plan or SIP AUM has grown 30 per cent annually, twice as fast as the growth in the overall mutual fund industry's assets under management (AUM). According to data released by Association of Mutual Funds in India (Amfi) on Wednesday, SIP AUMs have seen a close to four-fold jump to Rs 4,67,366 crore as of May this year from Rs 1,25,394 crore as of August 2016.
Globally, the researchers found that more than 7,40,000 or four per cent of new cancer cases in 2020 may be attributed to alcohol drinking.
While the tax treatment does legitimise past crypto transactions, there is a possibility that any, or all, private cryptocurrencies will be banned in future.
The increasing involvement of Big Tech in the financial system could give rise to concentration risk and there are potential spillovers, which call for closer attention, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Tuesday. "...enormous amounts of consumer data is being generated and leveraged upon by a few entities (the so-called Big Tech) by virtue of their huge customer base. "Such developments raise concerns on concentration risk and potential spillovers as their level of engagement with the financial system strengthens in the years to come," Das said at the Global Fintech Fest 2022.
The Omicron variant carries 'concerning' mutations that may make it more transmissible and allow it to evade immunity, scientists said on Monday, stressing that the one certainty in the uncertainty of the many things unknown is this -- COVID is not a short-term crisis and vaccines are still a critical tool.
"Over the last 10 days, my wife and I have been so deeply touched by the many messages of condolence and support we have received from this country and across the world," Charles said in a statement
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