Investors should view any bounce-back in bank stocks as an opportunity to exit the pack, analysts suggested, as the worst may not be over yet. The recent quarterly results of HDFC Bank and Axis Bank disappointed the Street, triggering a marketwide selloff by foreign institutional investors, especially in banking counters. While HDFC Bank, which was the anchor for the market correction during the past week, ended 2 per cent higher amid short covering on Wednesday, Axis Bank's shares settled 3 per cent lower.
It will take over large non-performing assets of banks and help in revive companies ridden with bad debts.
Too bad the one time it is friendly to the environment, Tiger chooses to celebrate his Diwali with 'meetha' and not 'pathaaka', points out Sukanya Verma.
2019 was the Bharatiya Janata Party's breakout year, when it stretched the boundaries of what was thought possible and ended up with 303 seats on its own steam. Now it is forced to play defence, on a pitch queered by too many variables, asserts Prem Panicker.
In the five years in politics Priyanka Gandhi has undeniably emerged as a thorn in the BJP flesh, notes Nilanjan Mukhopadhyay. It is time that this thorn is twisted a wee bit more when the elections have become far more uncertain than what it was when the Election Commission announced the poll schedule.
Led by the country's largest lender State Bank of India, banks have opened over 3 crore basic accounts within a fortnight of the launch of the scheme on August 28.
After Bandhan MF's US Treasury Bond 0-1 year Fund of Fund (FoF), Aditya Birla Sun Life (ABSL) MF has come out with US Treasury 1-3 Year Bond ETFs FoF and 3-10 Year Bond ETFs FoF. US bonds, which generally offer low yields, have turned attractive post the 525-basis point hike in US interest rates. According to Bloomberg data, the 1-year and 2-year US treasury yields now stand at 5.4 per cent and 5.1 per cent, respectively. Although the yields remain lower than what Indian government bonds offer, the differential has come down steeply.
The Centre on Monday earmarked a separate Rs 2,217 crore for 42 urban centres to tackle air pollution and announced the much-awaited voluntary vehicle scrapping policy to phase out old and polluting vehicles, even as it shrunk the budgetary allocation for the environment ministry from the last fiscal by nearly eight percent. Union Finance Minister Nirmala Sitharaman, in her budget speech for 2021-22, announced a total of Rs 2869.93 crore for the ministry, Rs 230 crore less than the last fiscal. Officials said the outlay has been lesser this time as the economy is recovering from the COVID-19 pandemic.
If you work for 30 years, a two per cent difference in pension returns can reduce your final retirement nest egg by 40 per cent. The Rs 9-trillion National Pension System (NPS) seems to be delivering incrementally higher returns than the twice-as-large Employees' Provident Fund Organisation (EPFO), shows a Business Standard analysis of data over the last seven years for the two retirement fund bodies. An investor who put in Rs 100 in retirement savings seven years ago would have seen her NPS nest egg grow to Rs 182 by 2023, according to the analysis based on the Pension Fund Regulatory and Development Authority's recently released Handbook of National Pension System Statistics 2023.
Government to pay disproportionately high interest for borrowings from savings, overturning a nearly two-decade-long process of reforms in the management of public debt.
Instead of only focusing on the tenure for which the best interest rate is available, investors should also focus on their own investment horizon.
Post your financial planning queries for rediffGURU and financial planning expert, Colonel Sanjeev Govila.
The reports also claim that the same beneficiary had been found to avail treatment at two hospitals at the same time.
A disciplined, systematic investment habit started at a young age is normally sufficient to meet modest goals without having to sacrifice a normal comfortable lifestyle, suggests Harsh Roongta.
Mutual funds, as experts and custodians of another set of retail investors' savings, play a speculative game they are neither supposed to nor equipped to do, cautions Debashis Basu.
'FDs should hold your emergency funds, equivalent to around 6-12 times your monthly expenses.'
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
'This is a long haul, god knows where it will end.' 'So it is best to conserve all the funds right now for fighting the COVID-19 pandemic.'
As per the EPFO income projections, retaining 8.8 per cent rate of interest for the current fiscal would have left a deficit of Rs 383 crore. Hence, it was lowered to 8.65 per cent
The decline is attributed to lower salary growth and a rise in households' financial liabilities.
The Comptroller and Auditor General of India (CAG) has pointed out several flaws in the financial practices of the Gujarat government and said there was a need to formulate a realistic budget based on the needs of the departments.
Nirmala Sitharaman's messaging was clear when she presented a well-balanced Budget with an eye on state elections in nine states followed by a general election next year, observes Ramesh Menon.
Prime Minister Narendra Modi on Thursday said that action against corrupt people in the country has resulted in a new polarisation in national politics, with certain political groups openly trying to get organised into a unit to save those facing graft charges.
Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance. The insurers also want reduction in the goods and services tax (GST) rate of 18 per cent currently applied on health insurance products to 5 per cent to make such products more affordable to common people. Finance Minister Nirmala Sitharaman will present the Union Budget for 2022-23 on February 1.
Pahal looks to cut down diversion and eliminate duplicate.
Investors must remember that only resident Indians can open a PPF account and a person can have only one PPF account.
While for the consumers, there is some gain and some pain, for India Inc, it's all about compliance, consolidation and parity
Amid slogan shouting by MPs from the Trinamool Congress, the Congress and other opposition parties from the Well of the House, Modi began replying to the debate on the motion thanking the President for her address to the joint sitting of Lok Sabha and Rajya Sabha at the start of the Budget Session, and accused the Congress of adopting only 'tokenism' to solving problems the country faced.
The curious thing is that savings instruments have not really kept pace with changing needs, although people have access to a wider variety than before.
Keep revising the sum insured at the time of renewal to keep it in line with inflation.
Brahma, Vishnu, Shiva, Ram, Laxmi, stories from the Hindu epics are seen in carvings, paintings and murals, as well as recognisable figures from mythology, like Garuda, Sheshnag, Nandi and Apsaras, notes Deepa Gahlot, savouring the beauty of Cambodia.
Seeking to make inroads in Chhattisgarh, Aam Aadmi Party leader Arvind Kejriwal on Saturday announced 10 'guarantees' for the upcoming assembly polls in the Congress-ruled state including free electricity, monthly 'samman rashi' for women and Rs 3,000 monthly allowance for the unemployed.
She alleged the new military recruitment scheme would be destructive for the youth and the Army.
The government appointed panel will look at the difficulties consumers faced in receiving the subsidy after buying gas cylinders at market rates.
"There has been a 0.05 percentage points decline in the share of allocation for child budget to the Union Budget from 2.35 per cent (2022-23 BE) to 2.30 per cent (2023-24 BE).
Investors across age groups and risk appetite can invest in these schemes.
Simple takeaways from the Union Budget 2015-16 and how it impacts your life
Farmers blocked the national highway in Pipli in Haryana's Kurukshetra district for a second day Tuesday over the MSP for sunflower seeds, with BKU leader Rakesh Tikait asking the state government to accept the demand or send farmers to jail.
The Congress released a booklet 'Nau saal, Nau sawaal', asking nine questions from Modi. The BJP rejected the Congress' criticism as a 'bundle of lies and mountain of deception' and said the questions are born out of 'pathological hatred' of the PM.
India does not have a unified regulatory regime to counter Ponzi, or pyramid, schemes whose operators typically grab new deposits to meet their promise of guaranteed returns to existing savers, point out Manoj Kumar and Mayank Bhardwaj.
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