Here's what you always wanted to know about investing your money in bank fixed deposits.
'Set aside around six months' monthly expenses for emergencies.' 'Keep this money in safe and liquid options, such as liquid funds and fixed deposits.'
Sources say given the complexity involved in the process of creating a holding company, which will ultimately be the parent company of banking and other businesses, banks are going slow in acquiring stakes in insurance arms or mutual funds of other lenders.
The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay.
'The money is readily available to the depositors.'
'If individual stocks start falling 25% to 30% or more, then I doubt how many of them will be able to withstand that (kind of selloff). That is when you'll see panic coming in.'
The mutual fund industry's assets under management (AUM) have likely breached the Rs 50 trillion mark following a rally in domestic equities this month. The industry's average AUM stood at almost Rs 48 trillion at the end of October. In November, the Nifty50 index has gained about 4 per cent so far, while smallcap and midcap indices have rallied close to 8 per cent.
It is important to know the right details about your insurance policies while avoiding these mistakes, says Harjot Singh Narula.
Dilip Kumar Jha explains what the buyers must do to protect their own interest.
Here's a quick checklist so that you make a wise decision
A quick snapshot about the fundamentals of the concept of life insurance.
The bank will be responsible for taking the mixed gold to mint and getting it purified.
Bundled products often come with restrictions. The customer also gets locked into two products at the same time. This reduces flexibility.
The Reserve Bank of India (RBI) on Wednesday allowed payment system providers, prepaid card issuers, card networks and white label ATM operators access to its Centralised Payment Systems (CPS), such as real time gross settlement (RTGS) and National Electronic Fund Transfer (NEFT) systems in the first phase of its plan bring non-banks in the same platform. "Direct access for non-banks to CPS lowers the overall risk in the payments ecosystem.
Raising social security pension amounts, increasing financial assistance given under the 'Rythu Bandhu' investment support scheme for farmers and providing LPG cylinders at Rs 400 each are some of the promises made by the ruling Bharat Rashtra Samiti for the upcoming assembly elections in Telangana.
Ministry of Finance, Joint Secretary -- insurance, Anoop Wadhwa, had reviewed the progress of development of micro-insurance products at a meeting in the national Capital on Tuesday.
There will be different ways of returning the money, depending on the profile of the depositors and the amount, predicts Tamal Bandyopadhyay.
The recent default on deposit payments by a couple of Yash Birla Group companies has brought to surface difficulties an investor has to face in recovering his money.
The draft amalgamation scheme of Punjab and Maharashtra Co-operative (PMC) Bank with Unity Small Finance Bank (SFB) allowed quick relief to depositors with savings of up to Rs 5 lakh, but a long wait for those who had their nest egg with the scam-tainted bank. If the scheme gets approved, 96 per cent (or 880,000 of 924,000) depositors will get their full money straightaway after PMC is merged with Unity SFB. According to the draft scheme, retail investors may get up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC) instantly, and then some more in phases till they can recall their full deposits after 10 years.
The mutual fund (MF) industry has seen a fair number of new entrants in the last 10 years but none of them have proved to be much of a challenge for the larger players. The list of top 20 fund houses, which manage over 90 per cent of the industry's total assets, continues to be dominated by players who have been in the business for more than a decade. Bajaj Finserv MF may change that, say experts.
Avoid discontinuing your SIPs. Persist for at least 7-10 years.
She said I treated her like a bachchi. At another moment, she said I had gone to various people and 'bitched' about her. She also threatened to bring the entire matter to the PM's notice. A revealing excerpt from Subhash Chandra Garg's We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.
With disruptions continuing, the productivity of Rajya Sabha fell to 13.70 per cent during the second week of the ongoing monsoon session from 32.20 per cent during the first week, resulting in an overall productivity of 21.60 per cent for the first two weeks.
The system envisaged under the FRDI Bill, if implemented properly, would help improve the efficiency of capital allocation without harming consumers, and without risking the stability of financial firms, says Ajay Shah.
Kumar said the Commission will follow the time-tested methods of consultations and consensus building in bringing about any reforms and will not shy away from tough decisions, according to an Election Commission (EC) statement.
It is your duty to be responsible to your health and start saving and investing early in a suitable health insurance, says Naval Goel
The finance ministry on Friday said 5.52 crore (55.2 million) bank accounts have been opened till October 7 and deposit of Rs 4,268 crore (Rs 42.68 billion) have been mobilised under Pradhan Mantri Jan Dhan Yojana (PMJDY).
The branch managers have come out of their glass cabins and the sellers' market has transformed into a buyers' market, but there is no end to the harassment of customers, asserts Tamal Bandyopadhyay.
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
Avoid discontinuing your SIPs. Persist for at least 7-10 years.
Insurers have eased the documentation process to file claims so that they can be settled faster
India's working population relies heavily on cash deposits and a second home to generate post -retirement income, according to an HSBC report.
Finance Minister Nirmala Sitharaman on Wednesday said the National Rural Livelihood Mission has achieved remarkable success by mobilising rural women into 1 lakh SHGs (self help groups).
rediffGURU Kirtan A Shah answers your personal finance queries.
Traditional plans are the biggest area of concern for consumers.
Mired in corruption, politics and with a history of suicides by its hapless depositors, PMC Bank's revival is a challenge very different from Yes Bank and LVB, both for the regulator and the rescuer, observes Tamal Bandyopadhyay.
EPFO fund body EPFO is likely to increase the maximum amount assured under its Employees' Deposit Linked Insurance Scheme (EDLI) to Rs 550,000 from the existing Rs 360,000.
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