The rupee had gained five paise to close at 63.25 against the dollar in on Monday's trade on fresh selling of the US currency by exporters amid bullish stocks.
In New York market, the dollar fell further against the euro yesterday after minutes from the Federal Reserve's March meeting detailed risks that could keep interest rates depressed even after the first rate hike.
Running a SIP plan for more than six years almost completely eliminates the chances of earning negative returns.
The partially convertible rupee closed at 61.31/32 per dollar, unchanged from its Tuesday close.
Experts say this is a good time to buy a house for self-use, points out Sanjay Kumar Singh.
Forex dealers said besides the dollar's gains against other currencies overseas, increased demand from importers for the American unit put pressure on the rupee but a higher opening in the domestic equity market capped losses.
'Any normalisation exercise will bring its share of volatility.'
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.
19% of 320 institutional investors managing $1.3 trillion prefer India as investment destination in 2017
Use this window to lock into bank FDs; unless govt cuts small savings rates, banks may not cut deposit rates
The price of bitcoin, the bestselling cryptocurrency, has shrunk nearly three times this year to mark the fate of such digital assets. Crashing prices, regulatory uncertainty and taxes have put Indian crypto exchanges in troubled waters. Finance Minister Nirmala Sitharaman's budget for FY23 announced a 30 per cent tax on any income from the transfer of virtual digital assets.
In other debt-oriented funds, retail assets jumped from about Rs 45,000 crore to Rs 64,000 crore.
The financial services sector, including NBFCs and housing finance companies (HFCs), have historically been the largest borrowers from MFs.
'Decide on an asset allocation you are comfortable with and stick to it for the long term.'
When he didn't respond (Mr Saver has lost count of how many relationship managers he has had in the past few years!), the gentleman landed up at his doorstep and started pleading with him to open fixed deposits with the bank, observes Tamal Bandyopadhyay.
Following the money and freezing anything unaccounted is the only way to set an example for others, suggests Debashis Basu.
Investor mistakes are just too many and to me everything looks major. P V Subramanyam tells a few that bother and bug him as an investment advisor.
Dollar's strength and falling crude oil prices force downward revision of 2015 growth forecast.
Among the key demands of agitating farmers has been a legal guarantee on minimum support price (MSP). The protest reached a crescendo when thousands of farmers from Punjab and elsewhere marched towards Delhi late last year and decided to block the main entry points once they were denied entry. The Centre, on its part, held 11 rounds of discussions with the protesters and even offered to amend some of the provisions without much success. With now one of their chief demands met, farmers have now moved on to force the government to concede on MSP.
Equity investments are fruitful over the very long 20-year term.
'The challenge in India will be reviving consumption/investment.' 'If the negative surprise in earnings is very sharp or lasts longer than March, it can trigger a sharp sell-off.'
'The robust tax collections give the finance minister a fair amount of headroom for an expansionary fiscal policy.'
'Both IIP and CPI inflation numbers are showing a huge disconnect from the leading indicators.'
You also avoid capital gains tax during redemption in case the gold price is higher, making them tax efficient.
Don't focus on market or product returns -- focus on your target rate of return, and then choose an investment.
However, the government has enacted an important change to the fixed-term employment framework that may help companies in handing out contractual jobs to its existing permanent workforce.
The US is pressing for taxing digital economy through the 'marketing intangibles' principle and the UK through a 'user-base' principle.
The Code on Social Security, 2020 gives a lot of comfort to gig firms which recognise cab drivers or food delivery executives as 'independent contractors' who directly do business with customers with the help of their digitised platforms.
RBI's foreign exchange reserves fell $237.5 million.
Surplus liquidity in the banking system as measured by absorption of excess funds by the Reserve Bank of India (RBI) fell sharply at the end of the last week due to outflows on account of advance tax payments. According to the RBI data, the net liquidity absorbed by the central bank on September 16 was at Rs 3,243.57 crore, much lower than the average of Rs 56,809.92 crore in the preceding four days of the week. The average absorption of funds by the RBI so far in September is at Rs 1.13 trillion, against the average of Rs 1.2 trillion in the previous month, the data showed.
Dollar flows in domestic markets are expected to continue but state-run banks are seen mopping the flows to boost RBI's foreign exchange kitty.
If you don't have a specific goal, but want intermittent liquidity, then ladder your FDs, that is, invest in FDs of varying maturities, such as one, two, three, five or even 10 years. Laddering ensures FDs mature at regular intervals.
Else, repent when you reach your golden years
Don't create an "atmosphere of fear", the Supreme Court Tuesday told the Enforcement Directorate (ED) after the Chhattisgarh government alleged the probe agency is "running amok" and is trying to implicate Chief Minister Bhupesh Baghel in a money laundering case linked to the alleged Rs 2,000 crore liquor scam in the state.
Insufficient rainfall will have a negative impact on the economy.
The farm sector has been resilient to the COVID-19 shock and is estimated to grow at 3.9 per cent this fiscal, the Economic Survey said on Monday, while suggesting to the government to give priority to crop diversification, allied farm sectors and alternative fertilisers like Nano urea. The Economic Survey 2021-22 also pitched for increasing agriculture research and development (R&D) and organic farming, besides use of new technologies like drones. "The performance of the agriculture and the allied sector has been resilient to the COVID-19 shock. ...Growth in allied sectors including livestock, dairying and fisheries has been the major drivers of overall growth in the sector," the Survey said. The agriculture sector has experienced buoyant growth in the past two years.
Brokers said a flurry of buying by investors in blue-chips mainly influenced the sentiment.
Over the past 25 years the MF industry has come a long way. Geographic reach has increased, many more customers have been added, more channels have been opened up and the product basket is full.
A gradual increase works best for the US, as well as global markets, says Nizam Idris managing director, head of strategy (fixed income and currencies), Macquarie Bank.
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
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