The mutual fund industry's assets under management (AUM) have likely breached the Rs 50 trillion mark following a rally in domestic equities this month. The industry's average AUM stood at almost Rs 48 trillion at the end of October. In November, the Nifty50 index has gained about 4 per cent so far, while smallcap and midcap indices have rallied close to 8 per cent.
The Indian economy will grow at around 6.5 per cent in the current fiscal, notwithstanding high crude oil prices and increased uncertainty due climate changes, NITI Aayog member Arvind Virmani said on Thursday. Virmani also asserted that the gross household savings ratio in India has consistently gone up. In an interview with PTI, he said: "My growth projection (of India's GDP growth) is 6.5 per cent plus minus 0.5 per cent... because my experience is that the fluctuations in global GDP more or less has balanced out for us, assuming normal changes."
To check digital frauds, the government has disconnected 70 lakh mobile numbers so far involved in cybercrime or financial frauds, Financial Services Secretary Vivek Joshi said on Tuesday. Emerging from a meeting to discuss issues related to financial cyber security and increasing digital payment fraud, Joshi, who chaired the meeting, said banks have been asked to strengthen the system and processes in this regard. More such meetings would take place, he said, adding the next meeting is scheduled in January.
Markram was delighted to see South Africa finding a way to win on a challenging strip.
Equity-linked savings scheme, PPF and Sukanya Samriddhi Yojana are recommended instruments.
'I am shocked that the BJP makes so many commitments. What did they deliver as the NDA?'
RBI Governor Raghuram Rajan on Friday pitched for incentivisation of domestic savings to boost investments in the country.
If the gift is received from a relative, there is no tax implication. But if the gift is received from a non-relative and exceeds Rs 50,000 in value during a financial year, the entire value of the gift is taxable.
The Hathras SP said the investigation also revealed that some political parties had contacted him some time back.
Demonetisation is the biggest reason for the rise in preference for small savings.
We asked you, dear readers to share yours smart tips to save money. This is what Mahesh Kaushik, 45, from Ghaziabad had to share.
Ramoji Rao lived as the interface between business and politics and was an active participant in both for most of his remarkable life.
SBI has twice hiked interest rates on fixed deposits within a month, but an investor still gets better returns at the post office.
Analysts expect banks with a strong deposit franchise to benefit from SBI's rate cut as they too are likely to follow the leader.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
The IPPB, which is currently running pilot services in Raipur and Ranchi, needs a go-ahead from RBI for the software used for system integration
Here are some golden nuggets when it comes to creating wealth. Read them and if you find yourself saying, 'This everybody knows', cross your heart and ask yourself how many times you have forgotten these simple rules, says P V Subramanyam.
The wise pay their taxes on time and plan for it before time. That does not mean one has to necessarily go through the big fat books on taxes! Knowing a couple of hacks for saving tax can have it sorted for you.
Banks' net interest margins under pressure due to moderate income from advances.
Foreign banks and private credit funds are queuing up to fund acquisitions by Indian companies who are buying out their local rivals. The Adani Group, Torrent Group, and the Hindujas have approached several foreign banks and private equity (PE) firms to fund their acquisitions. Global investors have about $2 trillion of funds to invest, and about $100 to $150 billion is set aside for India, according to an estimate by JP Morgan.
Are you a first-time IPO investor? Even if IPOs appear attractive with expectations of high returns, they come with risks and complexities, cautions Sheetal Jhaveri and shares her checklist to help you navigate through the world of IPOs
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
The current limit of Rs 24,000 per week has been raised to Rs 50,000 for savings accounts.
'It is crucial to understand that the ultimate goal of your investments isn't to pay lesser tax, but to create long-term wealth for you and your family,' says Satyen Kothari, founder and CEO, Cube Wealth.
The unions also made a case for introduction of cluster or hub banking, identifying few branches of each bank in each locality so as to enable bank employees to work on rotation.
The draft amalgamation scheme of Punjab and Maharashtra Co-operative (PMC) Bank with Unity Small Finance Bank (SFB) allowed quick relief to depositors with savings of up to Rs 5 lakh, but a long wait for those who had their nest egg with the scam-tainted bank. If the scheme gets approved, 96 per cent (or 880,000 of 924,000) depositors will get their full money straightaway after PMC is merged with Unity SFB. According to the draft scheme, retail investors may get up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC) instantly, and then some more in phases till they can recall their full deposits after 10 years.
Since April 2016, interest rates of all small saving schemes have been recalibrated on a quarterly basis.
Independence Day was celebrated across states and Union territories on Thursday, as several chief ministers announced job schemes while some others vowed their support for Prime Minister Narendra Modi's vision of a Viksit Bharat by 2047.
'The barbell strategy says that the best way to strike a balance between risk and reward is to invest at the extremes of the risk spectrum.'
...to fund the revenue gap. Of the gross market borrowing of Rs 14.13 trillion estimated for FY25, Rs 7.5 trillion, or 53 per cent, is planned to be borrowed in the first half.
Non-resident individuals (NRIs) have also been allowed to apply for the niche banking licence, provided they plan to return to India.
Prime Minister Narendra Modi Wednesday took the Congress to the cleaners over making the 2024 general elections about the protection of the Constitution, saying Indians voted on the plank only once when they threw out the Indira Gandhi government in 1977 after the Emergency.
We asked you, dear readers to share your best tips on saving money.
The only feasible way to have a healthy banking sector could be making it mostly private, along with two or three large, better-run government banks, suggests T N Ninan.
As the policy rate has seen a steady increase since May 2022, the percentage of loans offered at interest rates below 8 per cent have declined sharply, dropping from 53 per cent in March 2022 to 18 per cent by June 2023, according to a report by the Reserve Bank of India (RBI). The share of bank loans with interest rates of 10 per cent or higher rose from 22 per cent to 34 per cent during this period, reflecting the impact of a 250 basis point (bps) hike in the policy repo rate by the RBI's Monetary Policy Committee. In response to the rise in repo rate, 32 domestic banks have made corresponding upward revisions to their repo-linked external benchmark-based lending rates (EBLRs), aligning them with the magnitude of the rate hike.
This is the full text of the address to the nation by President Droupadi Murmu on the eve of India's 78th Independence Day.
In an online chat with Get Ahead readers on February 6, Anil Rego, CEO, RightHorizons, answered their queries on saving tax.
I am increasingly seeing young people starting 25-year-SIPs; these kids will definitely benefit from the long term effect of compounding, notes P V Subramanyam.
US bank Citigroup on Wednesday announced the sale of its Indian consumer banking businesses, including credit cards, retail banking, wealth management and consumer loans, to private lender Axis Bank for Rs 12,325 crore, as part of its plans to exit retail operations in 13 markets.
Payments banks are niche banks set up by the Reserve Bank of India to further the agenda of financial inclusion.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances