'By not letting bankrupt banks fail, we have discouraged ordinary folk from taking precautions while choosing their bank or at least when they hear bad news about their bank,'says S Muralidharan, former MD, BNP Paribas.
Since January this year, RBI has cut the repo rate - at which it lends to commercial banks -- to a gross of 1.25 per cent.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
'She was either overconfident that nothing will happen to her or she underestimated the gravity of the allegations.'
The searches at the Tamil television channel were conducted over alleged tax evasion.
Top consulting firms like McKinsey and Co, and Bain and Co along with others in the investment banking industry, such as Goldman Sachs and Deutsche Bank, have extended fulltime offers to students who interned at IIM-A.
'I'm just about getting out of the cocoon now,' the former investment banker-turned-politician tells Kavita Roychowdhury.
Backed by their strong physical presence across the country, UTI Mutual Fund and SBI Mutual Fund (MF) have managed to mobilise a higher proportion of their total assets under management (AUM) from towns and villages than their peers. Data compiled by Nuvama Institutional Equities shows that UTI MF and SBI MF are the only two major fund houses with over a fifth of their AUM coming from areas beyond the top 30 cities (referred to as B-30). UTI MF tops the chart with 23.8 per cent of its assets belonging to B-30 centres, followed by SBI MF with 21.2 per cent B-30 assets. The industry average stands at 17 per cent.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
RediffGURU Mihir Tanna broadly lists the ITRs to be filled by individuals having income from salary, house property, capital gain, business and other sources.
Indian investment bank Avendus Advisors on Thursday said that it is in the process of floating a $200 million India specific fund for investing in diversified sectors.
Fraudsters were luring gullible investors of daily returns up to Rs 75,000.
Jayshree P Upadhyay ' Mumbai September 9, 2014 Last Updated at 22:50 IST Top Stocks to Buy in 2014 8-10 Best Stocks for 2014 per month Highly Accurate Calls, Free Trial stockaxis.com/Stocks-to-buy-in-2014 Ads by Google 3 Add to My Page RELATED NEWS Foreign investor cap in bourses may be raised Sebi sets foreign portfolio investor limit of 10% per firm Sebi move on FPI regime grounded No clarity yet on FPI regime Jaimini Bhagwati: Correcting tax and disclosure anomalies Karbonn Titanium S5 Plus Be 1st to own latest Android phone with Dual SIM, 8 MP Camera & more!www.karbonnmobiles.com/S5_Plus 1Cr Life Cover @ Rs 543* Compare Premium of 46 Insurers Buy Online and save upto 55%www.policybazaar.com/TermInsur_Rate Ads by Google In a move that could increase the stake of foreign investors in Indian stock exchanges, the government is considering a threefold increase in the single-investor investment ceiling. Currently,a foreign portfolio investor (FPI) investment in an exchange is capped at five per cent. The finance ministry has written to the regulatory authorities to increase the ceiling to 15 per cent, said sources. The proposal is said to have in-principle approval from the Securities and Exchange Board of India (Sebi) and the Reserve Bank of India (RBI). The move would bring the FPI investment limit in line with those for financial institutions such as insurance companies and banks. NEW POLICY IN THE WORKS Single foreign investor limit in exchanges to be revised from 5% to 15% Sebi and RBI have given in-principle approval to the proposal Government to amend foreign investment policy BSE has 8 foreign shareholders holding 31% stake NSE has close to 20 foreign shareholders holding 36% stake The government allowed the foreign investors to invest in stock exchanges in 2006, with an overall cap of 49 per cent. This latter cap is likely to be unchanged. BSE and the National Stock Exchange (NSE), the two large nationwide bourses, are likely to benefit from the increase in limits. BSE has eight foreign investors, which cumulatively own about 31 per cent in it. The shareholding of Deutsche Boerse Group and Singapore Exchange Ltd are a little below the five per cent ceiling. NSE has about 20 foreign shareholders, holding around 36 per cent. Cyprus' Gagil and Goldman Sachs own five per cent each; Citi Group has around two per cent. "The finance ministry has received representations stating that the present limit of five per cent is a deterrent in attracting long-term anchor and strategic foreign investors in stock exchanges. Following which, the ministry has sought comments from both Sebi and RBI," said a person privy to the matter. A higher foreign investor limit will not only encourage more investment in Indian bourses but help in exchange of technology and products, said exchange officials. "A five per cent limit on the shareholding of any single investor or investor group is too small to encourage them to take sufficient interest in growth of the exchange," said an official associated with one, asking not to be named. The regulator and the government are also mulling a change in the shareholding of clearing corporations, which could also see individual foreign investors' cap being increased to 15 per cent. Some sections of the market believe that allowing a single FPI to own 15 per cent in a exchange could be detrimental to having a diversified shareholding. The Bimal Jalan committee, in the previous review of ownership and governance of stock exchanges in 2010, had debated whether there was a need to revise the cap. It was in favour of having an anchor investor, such as a bank or financial institution, which would own up to 24 per cent. Read more on: Fpi ' Sebi ' Rbi ' Nse ' Foreign Investor ' Singapore Exchange ' Finance Ministry Read More Investors vie for shares of stock exchanges Pick-up in sentiment, volumes boost bourses' unlisted shares HDFC Life Click2Protect+ Get Lump Sum + Monthly Income Benefit* @ Affordable Rate. Buy Now hdfclife.com/Click2ProtectPlus Retirement Calculator Plan Your Retirement Online in 2Min Calculate & Compare Premium Here! policybazaar.com/Retirement Ads by Google Advertisements Get a freedom to choose your own plan. Click here to know more... Data transforming the match-making business. click here Open a free Trading & Demat A/c with Sharekhan Leadership and Corporate Accountability-India. Click here Great fares to Europe from INR 54,000* Amsterdam. Click here Start Investing with the best Broker in india Important Facts about Infant Hearing Screening Gifting Solutions. Make easy & perfect! Find out what converged solutions can do for you. Smart Cloud Virtualized Server Recovery. Learn more. The perfect drive the perfect style. Book a test drive 3 Add to My Page Back to Top Quick Links Go LATEST NEWSAll NewsIn this section Ebola threatening Liberia's existence, minister warns IS threatens to assassinate Twitter employees Motherson Sumi, Eicher Motors, TVS Motor gain inclusion in F&O segment ABG, Bharati Shipyard rallies on hopes of government sops Pre-market: Five stocks to watch out for in trade today US manufacturing industry pushes India for free trade Dollar gains on Fed outlook, hurts shares Wall St ends lower as Apple shares fall post launch Ukraine ceasefire 'mostly holding': US Flipkart launches third private label Citron News you can use Rss icon Errors to avoid when filing returns What is Gratuity? What are NEFT and RTGS? Check your Income Tax Credit credit status form-26AS online Saving capital gain tax on sale of property Calculate tax on your house property income How to Check your EPF Balance & status online Featured Videos iPhone killers? The biggest threats to Apple's dominance video Jaguar takes the battle to BMW video The 5 biggest IPOs in U.S. history video Here is the next-gen spy plane... a blimp video MOST POPULARReadSharedCommented Supreme Court reserves order on coal block allocations Apple launches Watch, two iPhones & Apple Pay Guj rains: Hundreds evacuated in Vadodara, Army on stand-by Neel Mukherjee's book in Man Booker shortlist Mumbai airport keeps airlines guessing on Airbus A380 parking bay Market News A fourth of mutual fund equity assets concentrated in 10 stocks ICICI Bank, HDFC Bank, Infosys, SBI and L&T among fund managers' preferred bets Den Networks: Investing in new growth avenues Its tie-up with Snapdeal to launch a shopping TV channel looks like a win-win deal Sensex, Nifty retreat from record highs on profit taking The BSE Sensex and Nifty fell on Tuesday from their record highs in the previous session as investors chose to book profits in recent ... High agri imports under govt lens Dept of commerce seeks ideas to curb import dependence for supply of commodities, writes to sector bodies MCX hopes FTIL stake sale will conclude by month-end The exchange's clarification came in the wake of FMC rejecting its demand to allow approvals for contracts for the March quarter of 2015.
N Sundaresha Subramanian, Karan Choudhury and Shreya Jai report on the sorry condition of homebuyers who invested in Jaypee Infratech and the Amrapali group's Noida-based projects.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Paul Romer, a New York University professor and economist
Driven by inflows into Systematic Investment Plans (SIPs), the mutual fund industry's total assets under management rose to Rs 39.88 lakh crore in September from Rs 36.73 lakh crore in the year-ago period. On a monthly basis, the Assets Under Management (AUM) increased marginally from Rs 39.33 lakh crore in August. According to the latest monthly data from the Association of Mutual Funds in India (Amfi) released on Monday, the industry wide net AUM stood at Rs 38.42 lakh crore in September.
'What is critical today in India is confidence of depositors.' 'If you have these kinds of problems spreading like this, the confidence level of a lot of people in the system gets shaken.'
Banks argued that loans of most lenders are funded primarily by retail deposits and not from the wholesale market as was the practice abroad
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Foreign venture capital worth $1.5-$2 billion and another Rs 10,000 crore (Rs 100 billion) from Sidbi's SSI Fund are expected to bolster small companies in the country this year, according to industry experts.
The promoters of East India Hotels Ltd, owners of the Oberoi brand and the largest hotel chain after the Tata-owned Indian Hotels and ITC Welcome Group, are in advanced discussions with leading corporate houses and private equity firms to divest a strategic stake, possibly 26 per cent.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
'The idea is to invest where there is opportunity.'
25,600 cases of banking fraud totalling Rs 1.79 billion were reported up to December 2017. 'There is an inherent legacy when it comes to insuring crime.' 'Generally, most banks are uncomfortable in sharing data about employee fraud.'
It makes sense to wait for govt schemes such as gold bonds.
'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'
Retail inflation declined to an 18-month low of 4.7 per cent in April mainly due to falling prices of vegetables, oils and fats, and came closer to Reserve Bank's target of 4 per cent, showed government data released Friday. It was for the second month in a row that Consumer Price Index (CPI) based inflation remained within the RBI's comfort zone of below 6 per cent. The government has tasked the central bank to ensure retail inflation remains at 4 per cent with a margin of 2 per cent on either side.
During that period, the World Bank Group's private sector arm, IFC, committed $1.2 billion in India.
The first tranche of sovereign gold bond for 2022-23 will open for subscription for five days from June 20, the Reserve Bank of India said on Thursday.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
At Prestige Polygon Towers in Chennai's Teynampet, hectic preparations are on for a mega global investors' meet under the aegis of Guidance Tamil Nadu (the state investment promotion agency) scheduled for January 2024. Asked about the key focus areas of the meet, the agency's managing director and chief executive officer, V Vishnu, said the state was betting big on electric mobility. This is no surprise, given that the state has signed electric vehicle (EV)-related memorandums of understanding (MoUs) with several companies in the recent past that may bring in investments worth around Rs 33,000 crore with the potential to create over 43,000 job opportunities.
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
For the wealthy, post-tax returns of debt funds would work out better
After three consecutive years of infusing huge funds, foreign portfolio investors retreated from the Indian equity markets in a big way in 2022 with the highest-ever yearly net outflow of nearly Rs 1.21 lakh crore. The huge outflow, which surpasses by a big margin the previous record of Rs 53,000 crore net withdrawal in 2008, came amid aggressive rate hikes by central banks globally but 2023 is expected to be better on positivity about overall macroeconomic trends in India, experts said. Apart from global monetary tightening, volatile crude, rising commodity prices along with Russia and Ukraine conflict led to an exodus of foreign money in 2022.
Mutual fund (MF) houses have started realigning their overseas product offerings after the Securities and Exchange Board of India (Sebi) advised them to stop subscriptions. PPFAS Asset Management has decided to suspend transactions in Parag Parikh Flexi Cap Fund with effect from February 2, 2022. Though new lump-sum and systematic investment plans (SIPs) will not be accepted, existing SIPs and systematic transfer plans (STPs) will continue.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
Equity benchmark Sensex declined nearly 390 points on Friday, pressured by heavy selling in IT, tech and energy stocks despite a positive trend in the global markets. Besides, rising crude oil prices and relentless foreign capital outflows further weighed on sentiment, traders said. The 30-share BSE Sensex opened strong but came under severe selling pressure to close 389.01 points or 0.62 per cent lower at 62,181.67.
All these male politicians are unlikely to risk their sinecures to speak up in support of a bunch of women wrestlers who have chosen to challenge a politician who appears to have the ruling regime in a stranglehold, points out Kanika Datta.
Prime Minister's Office wants CBI and tax dept to identify the actual beneficiaries of the transactions made in India and abroad.
