The financial services sector, including NBFCs and housing finance companies (HFCs), have historically been the largest borrowers from MFs.
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.
Sebi on Friday imposed a penalty of Rs 50 lakh on Kotak Mahindra Asset Management Company (AMC) and barred the fund house from launching new fixed maturity plan (FMP) scheme for six months for violating regulatory norms. The markets regulator has directed the fund house to refund a part of the investment management and advisory fees collected from the unitholders of the six FMP schemes along with a simple interest at the rate of 15 per cent per annum. The case relates to the fund house's investment in certain FMPs. These FMPs of Kotak AMC had invested in Zero Coupon Non-Convertible Debentures (ZCNCDs) issued by Essel Group entities.
Nikunj Saraf, Vice President Choice Wealth, will answers your queries.
Fund managers's compensation is largely tied to the assets they manage and scheme performance.
Sankar's father Subramanian encouraged him to drop out of the schooling system at an early age and pushed him to play in the upper age groups and senior circuits.
Those who have crossed 50 must show the greatest urgency. They need to achieve a corpus that can sustain them and their spouses for at least 25-30 years after retirement.
ICICI MF recently filed for an ETF that will track the Nifty Alpha Low-Volatility 30 Index. It is part of the suite of smart-beta indices with the NSE, with the portfolio designed using a combination of two factors.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 22.5 per cent rise in net profit for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 16,203 crore in the quarter ended March 31, 2022 from Rs 13,227 crore, the firm said in a statement. Net profit, however, fell 12.6 per cent sequentially -- breaking a six-quarter chain of quarter-on-quarter improvement.
'Is taxable amount above 1 Lac is also to be shown as income from other sources?'
The Enforcement Directorate (ED) on Tuesday raided a dozen locations including the head office of the Congress party-owned National Herald newspaper in New Delhi as part of an ongoing money laundering probe, officials said.
Franklin Templeton Mutual Fund has said its six shut schemes have received Rs 15,272 crore from maturities, coupons and pre-payments since closing down in April 2020. The fund house had shut six debt mutual fund schemes on April 23 last year, citing redemption pressures and lack of liquidity in the bond market.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'Nothing will stop India's top three-four corporates who have become aggressive players in the agri-markets after Modi came to power from acting in concert to drive down at will the prices at which they buy from farmers.' 'These corporate houses have the wherewithal to purchase all the farm produce at low prices and store them for a long period of time.' 'Once the harvest season is over they will sell the same produce at higher prices.'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The culture of freebies burdens coming generations with the huge bill for the flagrant abuse of power by preceding governments, points out Virendra Kapoor.
After a hiatus of nearly two decades, the government's programme to privatise state-owned firms restarted with the handing over of debt-laden national carrier Air India to the Tata Group. With the new owner shelling out Rs 18,000 crore for the buyout of the 'Maharaja', this would be the highest-ever amount garnered through privatisation, and is even more than the cumulative sum mopped up through strategic sales from 1999-00 to 2003-04. The government had in October last year inked the share purchase agreement with the Tata Group for sale of national carrier Air India for Rs 18,000 crore. Tatas would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
The project will house 3,000 residential units across 10 towers in the first phase on a 20-acre land parcel that Raymond owns in Thane
"Darr to lagta hai par bhook say zyada darr lagta hai (I am scared but I fear hunger more than death)," he said as he pointed to his kids adding "back home we won't be able to find two square meals".
Take a call to stay put or opt our based on whether you think the company will be able to find a strategic investor, suggests Sanjay Kumar Singh.
Keki Mistry, bottom, left, vice-chairman, Housing Development Finance Corporation (HDFC), tells Joydeep Ghosh that debt fund investors could become risk-averse, leading to problems for other non-banking financial companies.
Reliance Industries on Friday reported a 41.5 per cent jump in its third quarter net profit as oil, retail and telecom businesses fired on all cylinders. Net profit of Rs 18,549 crore in October-December compared with Rs 13,101 crore a year back, the company said in a stock exchange filing. Income from operations rose to Rs 1.91 lakh crore from Rs 1.28 lakh crore.
Amit Gupta, MD, Sag Infotech, answers your personal income tax queries.
The markets regulator, Securities and Exchange Board of India (Sebi), recently introduced fresh guidelines to determine the place of a mutual fund (MF) on its riskometer tool.
Bharti Airtel chairman Sunil Mittal has expressed hope that the government and regulators will step in to ensure the sector remains a viable place for continued investments and asserted that the industry requires "long overdue" support to maintain its current 3+1 structure. In the latest annual report of Airtel, Mittal said as the sector's role in the economy becomes more pervasive, its challenges loom larger. Issues such as unsustainable pricing and low returns in a highly capital-intensive environment, coupled with legacy legal issues, "have extracted their toll", Mittal observed.
With real estate valuations falling and other deals coming unstuck, the current management's improved target faces significant challenges.
Salt-to-software conglomerate Tata group was among "multiple" entities who on Monday put in preliminary bids for buying the government's stake in loss-making carrier Air India.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Piramal Group on Thursday said the Reserve Bank is understood to have cleared the resolution plan for debt-ridden DHFL as approved by the Committee of Creditors (CoC). The CoC had approved a resolution plan submitted by a Piramal Group company, Piramal Capital and Housing Finance Limited, last month. "We understand that the RBI has approved the DHFL resolution plan from Piramal Capital and Housing Finance, submitted by the CoC," Piramal Group said in a statement. The resolution plan was approved by the CoC in its 18th meeting concluded on January 15, 2021.
Struggling, corrupt construction industry will be challenged by the prime minster's $250-billion plan
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Many would have racked up debt this Diwali, using credit cards and consumer loans. Here are a few simple steps on how to fix your financial mess, says Bindisha Sarang.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Those looking to take advantage of current market conditions should buy only after conducting due-diligence.
'Never sit back and relax.' 'Always be a student.' 'Always be hungry to learn and improve.'
Following the money and freezing anything unaccounted is the only way to set an example for others, suggests Debashis Basu.
For banks to give debt requires equity from promoters, Kumar said, adding that the number of people or business houses who have that capability to invest has shrunk.
At present, the EPFO is mandated to invest 20-45 per cent of its incremental funds - of around Rs 1.5 trillion - in debt-related instruments.
Sebi has allowed mutual fund schemes the option of 'side-pocketing' which move will help both fund houses and investors.
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