The Reserve Bank should focus on making liquidity easier rather than cutting rates if the intent is to drive growth, Axis Bank's chief economist Neelkanth Mishra said on Tuesday. Mishra, who is also a part-time member of the Economic Advisory Council to the PM, said the rate cut announced earlier this month or even the subsequent ones if they were to come will not end up increasing borrowings as the scarce liquidity will hamper transmission.
'Young investors should focus more on equity, while retired senior citizens should prioritise fixed income.' 'Mid-career investors should aim for a balanced allocation.'
Ahead of the festive season, several passenger and commercial vehicle manufacturers have agreed to offer discounts of 1.5-3 per cent on new vehicle purchase against scrapped old vehicles after a meeting with Union Minister Nitin Gadkari, an official statement said on Tuesday. The statement further said Mercedes Benz India has offered a flat discount of Rs 25,000, which will be over and above all existing discounts. Union Road Transport and Highways (RT&H) Minister Nitin Gadkari on Tuesday chaired a meeting with the SIAM delegation at Bharat Mandapam, where he addressed pressing issues in the automobile industry.
The court also said that the "frivolous contentions" by the petitioner objecting to the PM's photo and his "morale boosting message" on the vaccination certificate, was "not expected from a citizen of the country".
The liquidity will move into deficit after advance tax payments and GST outflows. It will rebound in October because of government spending.
Indian Olympic Association (IOA) President PT Usha has proposed that only disciplines featuring in the Olympics, Commonwealth and Asian Games be considered for inclusion in the future National Games,
The bypolls were held in six constituencies - Naihati, Haroa, Medinipur, Taldangra, Sitai (SC), and Madarihat (ST) - following the resignation of MLAs who had vacated their assembly seats after securing victories in the 2024 Lok Sabha elections.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Union Road Transport and Highways Minister Nitin Gadkari on Monday said the country needs 1,000 vehicle scrapping centres and 400 automated fitness test centres. Launching 'DigiELV', Gadkari said the road ministry has so far approved 85 vehicle scrapping facilities across the country. "We need 1,000 vehicle scrapping centres in the country and at least 400 automated fitness test centres," he said.
The observation came in an order issued by a Division Bench, comprising Chief Justice S Manikumar and Justice Shaji P Chaly, on January 25 while dismissing an appeal filed against a single judge order junking a plea seeking removal of the Prime Minister's photo from the COVID-19 vaccination certificates.
When investing in fixed-income products, balancing considerations like safety, liquidity, and income is essential.
All that you must know about the pros and cons of gift deeds, tax implications, essentials, documents required, conditions, etc...
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.
'We may see little softness in liquidity position after the stabilisation of the government.'
rediffGURU Samkit Maniar answers readers' personal income tax queries.
MMFs invest in fixed-income instruments maturing in less than one year, minimising interest-rate risk.
>According to the latest RBI data, PPF receipts have already experienced a decline between April 2023 and February 2024. Other schemes like the Sukanya Samriddhi Account and National Savings Certificate are also witnessing reduced inflows.
During the fourth quarter (January-March), banks step up the activity to meet annual targets. This leads to a race to raise funds from markets often by jacking up deposit rates. This time around, the market has not seen such trend yet.
Returns of liquid funds are meant only for the short term and don't help investors create wealth over the long term, as equity funds do.
Discrepancies between Form 26AS and Form 16 can lead to an inquiry by the I-T department.
It had asked govt banks to reduce these and certificates of deposits to a combined 15% of total deposits
DigiLocker, a government initiative for storing documents and verifying credentials online, is gradually replacing the need for paper.
They need money as Rs 100,000 cr deposits will mature by December.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
'Tax is not required to be deducted from specified payments if a recipient files a self-declaration with the deductor for no deduction of tax.'
Funds raised by banks through certificates of deposit in December clocked the highest in the financial year 2023-24 as liquidity remained tight in the system with the Reserve Bank of India (RBI) infusing Rs 2.01 trillion on Monday, the highest in the current financial year. The liquidity deficit in the banking system widened to more than Rs 2 trillion on Monday on the back of advance tax outflows, market participants said. Around Rs 4 trillion worth of outflows are expected because of advanced tax and goods and services tax (GST) payments in December.
The CBI had sought an urgent hearing of the plea before the alternate bench of Justice Kotwal.
The environment ministry is likely to soon issue regulations that will mandate automakers to recycle a specified percentage of steel from old vehicles, starting from the next financial year, according to people familiar with the matter. "We recently held a meeting with members of the Society of Indian Automobile Manufacturers (Siam). "The final regulations are likely to be issued in the next 10 days," a government source informed.
The Badrinath-Kedarnath Temple Committee on Wednesday dismissed Jyotirmath Shankaracharya Swami Avimukteshwaranand's allegations that 228 kg gold bought for lining the Kedarnath temple's internal walls is missing, and asked him to approach authorities if he had any evidence.
The need for money among banks, especially for short-term funds, may turn more intense in the last month of the financial year to feed the demand for capital for tax payments and meet year-end targets. The mobilisation of funds via the certificate of deposits (CDs) has seen a threefold increase to over Rs 60,000 crore in the fortnight that ended February 23 from around Rs 20,000 crore in the fortnight of January 26, 2024, according to the Reserve Bank of India (RBI) data.
Don't solely focus on tax-saving alone.
With a surge of nearly three-fold in its cash position since the beginning of this fiscal, Reliance Industries on Thursday disclosed that over 95 per cent of these are parked in banks.
Here's how NRIs can protect their overseas earnings from exchange rate risk.
The maiden, critical mineral auction in India has failed to enthuse the mining industry, with the first tranche achieving less than a 50 per cent success rate and the auction of several mines was cancelled owing to low response. The results, announced by the Ministry of Mines on Monday, showed that six lesser-known companies emerged as preferred bidders. Among these were Agrasen Sponge, Kundan Gold Mines, Dalmia Bharat Refractories, Sagar Stone Industries, and Maiki South Mining.
It is important to have the necessary documents on hand to verify the information in the form.
TDS merely means the bank will pay you the entire interest amount without forwarding the tax on it to the government.
Banks are preferring instruments with higher premium over government securities for their held-till-maturity (HTM) portfolio, following the new investment norms, which came into effect from April 1. They are stocking up on corporate bonds and state government securities to boost yield on their portfolio, according to market participants. "Definitely, if there is a good spread available and without lower credit risk, those instruments will be favoured to boost the yield on the portfolio.
A remarkable story which helped in transforming a bureaucratic organization, to a customer centric organization. This experience may inspire several government / private organizations to modify or adopt digitisation to transform their business, notes Professor N Ravichandran (retd).
'Don't wait until the last minute. Instead, cultivate the habit of monitoring your Form 26AS throughout the year.'
