The change comes at a time when online MF distributors are increasingly moving investors from the SoA mode to demat holdings.
'A staggered investment approach (using SIP or STP) can help investors benefit from this opportunity while reducing timing risk.'
New investors should gradually build a 5 to 10 per cent allocation to gold.
Contributions to mutual fund schemes through systematic investment plans or SIPs remain unfazed from the market volatility in 2022 with inflow growing to Rs 1.5 lakh crore in 2022, a surge of 31 per cent from a year earlier, due to higher retail participation. In comparison, an inflow of Rs 1.14 lakh crore through the route was registered in 2021 and Rs 97,000 crore in 2020, data with the Association of Mutual Funds in India (AMFI) showed. Going ahead, SIP numbers are expected to continue to remain strong in 2023 as investors are increasingly appreciating the importance of regular investing through the route, Kaustubh Belapurkar, director - manager research at Morningstar Investment Adviser India, said.
After the finance minister directed public sector banks to join the account aggregator (AA) ecosystem, 5-6 major ones, including State Bank of India (SBI) and Bank of Baroda are expected to go live by July-end. Sahmati, an industry alliance for the AA ecosystem, has been working with PSU banks to get them onboarded for quite some time now. So far, Union Bank of India and Punjab National Bank (PNB) have gone live on the AA ecosystem. While Union Bank has been live for a while, PNB went live earlier this month.
For 2015-16, the planned outlay for the department was Rs 2,568 crore.
City governments must work out the treatment system for faecal sludge.
Foreign Trade Policy: More incentives for exports, focus on ease of trading
The President has approved award of 398 gallantry and other defence decorations to armed forces personnel and others on the eve of the 68th Republic Day Celebrations.
'India is the number one IT destination in the world as we have the largest number of IT professionals in the world.'
