Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
'I believe that the overall demand for commercial vehicles will improve, even though there is a slowdown in the GDP.'
The bank expects Securities and Exchange Board of India approval for its proposed asset management company in the next few days, Raman said, adding once the approval is secured, the bank expects to start operations of the AMC in a couple of months.
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
'The incentives to switch to the new tax regime... are viewed as a negative due to potential loss of customers who buy policies for saving tax.' 'The tax-saving value proposition for the sector reduces.'
'In equities, it has diversified portfolios.' 'So the short-term movement of individual stocks does not impact them.'
'2025 is the year to build a portfolio for the future. Focus this year should be on valuations and visible growth.'
Implications for capital gains, wealth taxes, and investment strategies require careful consideration, notes Anil Rego, founder and CEO, RightHorizons.
Monetising real estate assets is part of the overall relief package that would be used to retire debts, upgrade networks, and offer VRS aimed at reducing the telcos' employee strength by half.
Senior bankers anticipate discussions on issues related to technology, cyber security, and customer protection.
Find out whether the fund is equity, debt, or hybrid oriented. 'Understand the portfolio composition and whether it suits your risk appetite and horizon.'
Partha Pratim Sengupta, who will be taking charge as the MD & CEO of Bandhan Bank in early November, has his task cut out. The Kolkata-based lender, which converted itself from a microfinance institution to a universal bank, is in its 10th year of operation. The bank was able to cut down the share of the micro loan book over these years.
These schemes are a good choice for investors contemplating a large investment in equity funds. Instead of investing all the money in one go, they can do so in a staggered manner by parking it in these schemes and then transferring it to equity mutual funds through a systematic transfer plan.
Stocks mutual funds had invested in had risen almost to pre-pandemic levels in March.
Niti Aayog will prepare the next list of central public sector companies for disinvestment in the next few weeks, its vice chairman Rajiv Kumar said on Thursday and expressed hope that the proposed asset reconstruction and management companies to address banks' bad loan woes will do a good job like the UTI. Days after Finance Minister Nirmala Sitharaman announced the Union Budget for 2021-22 laying out various measures (including disinvestment proposals) to bolster the pandemic-hit economy, Kumar also emphasised that the Modi government has shown consistent commitment for the welfare of farmers and for the improvement of the agriculture sector. "Now the process has begun... We will complete preparation of the next list in the next few weeks, we have got the marching order," Kumar said about the list of public sector companies for the next round of stake sales.
In April, the SIP contribution was Rs 11,863 crore.
'It has remained around 38 per cent over the past four to five quarters.'
The RBI under former governor Shaktikanta Das resisted pressures to cut interest rates through 2024 as it kept its 'Arjuna's eye' trained on inflation, but the central bank under a new detail-oriented head will soon have to take a call if it can continue sacrificing growth. Das, a career bureaucrat who in 2016 oversaw Prime Minister Narendra Modi's highly disruptive demonetisation move, left a lasting legacy as he demitted office towards the end of 2024 after expertly navigating monetary policy for six years, the highlight of which was steering India's recovery through the pandemic.
State-owned Indian Renewable Energy Development Agency's (Ireda's) chairman and managing director Pradip Kumar Das has announced that the company has requested the government to allow it to carry out a follow-on public offer (FPO) as it will need further equity infusion to maintain the pace of growth. The FPO would aim to raise between Rs 4,000 crore and Rs 5,000 crore. Ireda, which provides funding assistance and other services to renewable energy and energy efficiency/conservation projects and is 75 per cent owned by the government of India, has requested the Union Finance Ministry to be included under Section 54EC of the Income Tax Act, which will help reduce borrowing costs.
In a major relief to stressed assets, the Cabinet approved the proposed IBC amendment that the licences, permits, concessions, and clearances for a corporate debtor cannot be terminated or suspended or not renewed during the moratorium period. The Cabinet also allowed amending the code to streamline the corporate insolvency resolution process and protect last-mile funding to boost investment in financially distressed sectors.
The finance ministry is in favour of extending the August deadline for public sector banks (PSBs) as well as insurance companies to increase their minimum public shareholding (MPS) to the mandated 25 per cent, said a senior government official. "The election results will determine the course of action. "Most likely, those who did not receive an extension to meet the minimum shareholding norm will be granted one," the senior government official said.
T Row Price, the largest stakeholder in the UTI AMC, has threatened to pull out alleging that the ministry of finance is thrusting its own candidate as the CMD of the company.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
To further tighten its control of practising accountants, the Centre has brought within the ambit of the Prevention of Money Laundering Act (PMLA) their "financial transactions" such as operating and managing their client firms and trusts, and buying and selling business entities. The Union finance ministry issued a gazette notification on this on Wednesday. Under the new rule, chartered accountants, company secretaries, and cost and works accountants carrying out such transactions (on behalf of their clients) will now be required to go through the Know Your Company (KYC) process before commencing work.
Move to strengthen market share and become more profitable.
Vijay Kelkar, former advisor to the Union finance minister, has joined the board of Tata Chemicals Ltd as director.
The 'bad bank' -- which will help banks clear their balance sheets by transferring the NPAs to special purpose vehicles -- has been one of the most debated ideas for stressed asset resolution.
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
The Reserve Bank of India (RBI) has identified "climate shocks" as a risk to food inflation rates and overall price rise while stating that the outlook for the country's economic growth remains bright. In its Annual Report for 2023-24, released on Thursday, the central bank said easing supply-chain pressures, broad-based softening in core inflation, and early indications of an above-normal southwest monsoon meant well for the inflation outlook in 2024-25. "The increasing incidence of climate shocks, however, imparts considerable uncertainty to the food inflation and overall inflation outlook," said the RBI while noting headline inflation moderated by 1.3 percentage points on an annual average basis to 5.4 per cent in 2023-24.
Maharashtra government on Wednesday decided to acquire the iconic Air India building at Nariman Point in Mumbai for Rs 1,601 crore. The decision was taken at a meeting of the state cabinet in Mumbai. The meeting, chaired by Chief Minister Eknath Shinde, also decided to waive off around Rs 250 crore unrealised income and interest on the property, an official said.
In rupee terms, India's market cap is currently about Rs 184 trillion - 90 per cent of the GDP of Rs 203 trillion for FY20 at current prices.
'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.'
India's mutual fund (MF) industry had barely any retail footprint when it completed 50 years in 2013. MFs had Rs 7 trillion in assets under management (AUM) in March 2013, of which around Rs 5 trillion was in institution-focused debt funds. By comparison, bank deposits in the country stood at Rs 67.5 trillion around the same time.
With general elections on the horizon, the government's privatisation bandwagon has almost but stalled as a government wary of being accused of selling family silver opts for minority stake sales on stock exchanges over outright privatisation. The result -- the divestment target for current fiscal year is again likely to be missed. Big ticket privatisation plans such as that of Bharat Petroleum Corporation Ltd (BPCL), Shipping Corporation of India (SCI) and CONCOR are already on the backburner and analysts feel meaningful privatisation can happen only after April/May general elections.
Fundraising through qualified institutional placement (QIP) has revived this year, led by commercial banks, after a lacklustre 2022. According to data compiled by Prime Database, Indian companies have raised Rs 53,070 crore in 2023 so far, of which seven banks - Union Bank of India, Indian Bank, Bank of India, Federal Bank, IDFC First Bank, Bank of Maharashtra, and J&K Bank - account for Rs 21,290 crore, or about 40 per cent. If other financial institutions are included, the figure surges to Rs 26,690 crore.
Sandesh Kirkire, CEO, Kotak Asset Management Company says RBI may hike rates and tighten liquidity.
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
Small-cap funds have enjoyed a massive run-up over the past year. The category has turned in an average return of 109 per cent - the best-performing fund has yielded a humongous 201 per cent. Many investors, however, are concerned whether the category has turned risky after such a sharp rise.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
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