'The smartest businessmen are shopkeepers as their return on investment is better than anyone else.'
While there's tax arbitrage advantage in ULIPs now, experts say investors should prefer mutual funds for long-term savings.
In the June quarter of FY24, 51 per cent of consumers who took small-ticket personal loans already had more than four credit products at the time of accessing yet another new loan, compared with just 17 per cent in the June quarter of FY20, points out Tamal Bandyopadhyay.
LIC will kickstart its credit card business in September 2008.
Domestic capital market will see the launch of India's largest-ever initial public offering (IPO) next week. Life Insurance Corporation of India's (LIC's) landmark Rs 21,000-crore IPO will open for subscription on Wednesday. Here's a look at some unique features of this mega offering, which are not typically seen in other IPOs.
The number of draft red herring prospectuses (DRHPs) filed with the markets regulator - Securities and Exchange Board of India (Sebi) - jumped nearly fivefold to 145 in 2021-22 (FY22), compared with just 30 in the preceding financial year (2020-21, or FY21). This was on account of companies rushing to take advantage of a favourable market sentiment towards initial public offerings (IPOs), triggered by an influx of new investors, surge in the secondary market, and encouraging performance of newly listed stocks. In fact, DRHPs filed in FY22 was 4x the previous 10-year average and the highest since 2007-08, according to primary market tracker PRIME Database.
The challenges before the coming Budget are more daunting than those in 2021, reveals A K Bhattacharya.
Tata remains India's powerful brand with its value ring over $15 billion for the first time.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
Many people struggle to claim or liquidate investments and insurance policies due to procedural issues.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Bank shares were the top losers along with index heavyweight RIL
Close to a million small shareholders have stake in nine NCLT-bound companies
The IL&FS group has a complicated structure, with the holding company owning stakes in its financial services arm as well as the subsidiaries that operate its infrastructure assets.
The session will commence with the maiden address of President Droupadi Murmu to the joint sitting of both Houses of Parliament. The address essentially highlights the government's achievements and policy priorities.
'LIC's proposed investment will come out of what is technically called the 'policyholders funds'.' 'As the name implies, these monies belong to policyholders; that is, you, me and 25 crore others who have taken a total of 30 crore policies from LIC.' 'It is not the government's or LIC's money to play poker with,' says S Muralidharan, former managing director, BNP Paribas.
It may sound bizarre, but incidents of public sector bankers dying by suicide could probably equal the number of such bankers quitting their jobs, reveals Tamal Bandyopadhyay.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
The online world is driven by convenience, simplicity and speed.
As many as 56 firms collectively mopped up Rs 17,283 crores through IPOs during the April-September period of 2016-17.
With the wedding season already in full swing, a few things to keep in minutes financially when tying the knot, advises Bindisha Sarang.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
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Cumulatively for the first two quarters till now, the advance tax collections from the Mumbai zone, which contributes over a third of the income tax collections nationally, have grown 11 per cent, the official said.
A total of 49 companies raised Rs 81,615 crore in Samvat 2077, more than the preceding four years and almost double the amount raised in the previous year. Samvat 2078 appears even more promising with mega issues of Paytm and Life Insurance Corporation (LIC) of India. However, Paytm's record could be short-lived as state-owned LIC is planning to launch a Rs 1-trillion IPO by March 2022.
The rights issue price has been set at Rs 1,257 a share, a discount of nearly 14 per cent to the last closing price of Rs 1,459. The company had set May 14 as the record date for the rights issue, which meant shareholders as on that day would be eligible to apply. Shareholders will be able to apply for one share for every 15 shares held.
Ramalingam Kalirajan explains the pros and cons of both investment types.
'It will be a cat and mouse game between investors and the government.' 'The issue will be launched only if there is sufficient demand from investors and the government is in agreement with the bankers on the valuations.'
Sebi to fix promoters' side deals with PE investors
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
Govt must introduce automated investment scheme for poor.
'Had there been no war, maybe, we would come out with a 7.5 per cent stake sale.' 'At this point in time, a 3.5 per cent stake sale looked good.'
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
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Senior company officials said the funds would be used to expand its financial services business in rural India where the group would be opening more branches.
Highest-ever mobilisation in first half of any fiscal year; bankers expect the trend to continue, given strong pipeline
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
Retirees have better options that offer liquidity, better returns and are more tax-efficient.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
Policies to break down the business group format are far more likely to be effective, argues Simon Commander.
