'There's a misconception that all Rs 1 lakh crore will be spent immediately, leading to higher consumption of FMCG goods, travel, and vehicle purchases.' 'While some of this money will go toward consumption, not all of it will.' 'The impact depends on where people deploy their savings.'
rediffGURU Ulhas Joshi answers your mutual fund queries.
Long-term tax-saving FDs can also be considered after the PPF limit has been exhausted.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Quite often for investors fixed maturity plans and fixed deposits are alike but there are some distinct differences. The protection of capital is foremost selling point for both FMPs and FDs. But FMPs score over FDs on a few parameters.
'TMFs trump FMPs and FDs when it comes to investing in a high-duration product.'
Bank fixed deposits offer the safety of assured returns. But inflation and taxes can take a big bite off your money
'If you invest in a rush at the last moment, you could compromise on selecting the best tax-saving options.'
rediffGURU T S Khurana answers readers' personal income tax queries
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Banks are offering attractive interest rates for fixed deposits. Here's some advice on FDs.
With rising interest rates, it pays to encash your old bank fixed deposit and reinvest in a new one. But don't restrict yourself and look beyond these to combat tax and inflation
Traditionally FDs have been plain vanilla products but nowadays amid cut-throat competition, banks have modified these keeping in line with customers' requirements.
An FMP offers the advantage of lower tax in comparison to a bank FD.
rediffGURU Mahesh Padmanabhan answers readers' personal income tax queries.
The higher the tax bracket, better the yields for these instruments
Invest with a fund house with pedigree and reputation.
The bulk of an investor's portfolio should be in shorter-duration funds of up to one year portfolio duration.
Fixed maturity plans are definitely a better investment option than bank fixed deposits. Here's why...
Investors with a long-term horizon and high-risk appetite seeking capital appreciation can consider investing in ELSS.
If the investor gives the highest degree of importance to capital preservation, then FDs should be his calling.
rediffGURU Kirtan A Shah answers your personal finance queries.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
The interest rate on FDs hasn't changed much over the years.
Kotak Mahindra Bank's loan and deposit growth are likely to be affected after the Reserve Bank of India (RBI) asked the private-sector lender not to take on board new customers through the bank's online and mobile banking channels and not to issue any new credit cards, according to analysts. The bank's share price fell 10.85 per cent on Thursday to close the day at Rs 1,643 on the BSE. The RBI's action came after market hours on Wednesday.
The agency detected the fixed deposits in State Bank of India, Axis Bank and Bank of India during the questioning of several close aides of Mondal and other witnesses during its ongoing probe in the case, they said.
The share of low-cost money in total deposits continued to take a knock at the close of FY23 as banks engaged in intense competition by offering higher interest rates on term money to garner funds amid tight liquidity conditions. The share of current accounts and saving accounts (CASA) in total deposits declined by 2-4 per cent by end of March 2023 from March 2022 figure, according to BSE filings by private banks. The ease of movement of funds on digital platforms and the deployment of money by businesses from current accounts also played a role in dwindling the share of CASA money.
Investors need to evaluate how they stack up against other high credit quality fixed-income options before putting money in them.
These plans are best suited for individuals with a lower risk appetite as they provide guaranteed benefits.
Every banker loves the four-letter word Casa as it plays an important role in lowering the cost of deposits. Every bank wants to increase its Casa, as a higher portion of Casa in the overall deposit liability brings down its cost of money, points out Tamal Bandyopadhyay.
Senior citizens and others depending upon income from bank fixed deposit (FD) schemes will be at the receiving end with the retail inflation exceeding the interest rates. The Reserve Bank of India (RBI) in its latest monetary policy review has projected retail inflation at 5.3 per cent for the current financial year. Last week, the RBI said that the Consumer Price Index (CPI)-based inflation is now projected to be at 5.3 per cent for 2021-22 with risks evenly balanced.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Even as the returns of mutual fund (MF) schemes have improved considerably in the past three months, addition of new investors has remained in the slow lane for the MF industry. According to industry data, during the first six months of CY 2023, MFs onboarded only 1.6 million new unique investors, in stark contrast to the 4.7 million investors added during the same period last CY and the 2.4 million in 2021. It is noteworthy, however, that the current additions for this year have doubled in comparison to the figure of 800,000 seen in 2020.
If the gift is received from a relative, there is no tax implication. But if the gift is received from a non-relative and exceeds Rs 50,000 in value during a financial year, the entire value of the gift is taxable.
'Comparing the rates of interest with PSU banks, the three- and five-year time deposit rates of the post office are more favourable.'
Ramalingam Kalirajan explains the pros and cons of both investment types.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
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