Riding the wave of the equity market, the mutual fund (MF) industry experienced double-digit growth in Samvat 2079, concluding the Hindu calendar year close to the Rs 50 trillion assets under management milestone. After a subdued 6 per cent growth in Samvat 2078, the industry's assets surged over 18 per cent last year to Rs 46.7 trillion. Industry players anticipate that Samvat 2080 will also be a fruitful year for the asset management industry, given the strong inflows from retail investors, particularly through the systematic investment plan route.
Debt fund managers are reassessing their strategies after the setback delivered by the Reserve Bank of India recently. While most are refraining from any knee-jerk reaction to the central bank's surprise open market operation (OMO) announcements, they are taking a re-look at the duration of their schemes. Sandeep Yadav, head of fixed income at DSP Mutual Fund, said it has trimmed the duration of some schemes, considering the hawkish stance by the RBI.
The Reserve Bank of India (RBI) was a net seller of the US dollar in August, reversing its net buying position from July. During the current financial year up to August, the central bank had sold a net $1.11 billion. The RBI sold a net total of $6.49 billion worth of the foreign currency in August, according to the central bank's monthly bulletin.
If the DMK is able to sustain the momentum until the assembly polls, the AIADMK especially and the PMK and possibly the infant TVK too would find it hard to sign up with the BJP, explains N Sathiya Moorthy.
India's economy is likely to grow by 6.5 per cent in the current and the next financial year, an EY report said, attributing lower than anticipated expansion in the September quarter to fall in private consumption expenditure and gross fixed capital formation. Real GDP growth eased to a seven-quarter low of 5.4 per cent in July-September -- the second quarter of the current 2024-25 fiscal year.
Invest with a 5 to 7 year horizon so that you are able to ride out price volatility and benefit from the long-term trends of demand and macroeconomic shifts.
Public sector banks (PSBs) have proposed the Finance Ministry their plan to raise Rs 54,800 crore through Additional Tier-1 (AT-1) and Tier-2 bonds in the current financial year (FY25), 37 per cent more than the Rs 39,880 crore raised in FY24
The BJP may win more seats in the February 5 assembly election, but not enough to trump AAP, notes Ramesh Menon.
A day after his appointment as the 26th governor of the Reserve Bank of India (RBI), outgoing Revenue Secretary Sanjay Malhotra on Tuesday said one must understand the economic landscape and do what was best for the economy. "Let me first go, join, understand the turf ... Here it is a different role," Malhotra said, speaking to reporters in front of North Block.
If it was Andhra Pradesh last Budget, it's poll-bound Bihar that has now turned to Centre with a list of demands. How the NDA government is delivering on promises.
The Aam Aadmi Party on Wednesday said Rajya Sabha MP Sanjay Singh and Delhi minister Saurabh Bhardwaj would accompany the media on a tour of the chief minister's residence, which the Bharatiya Janata Party claims was turned into a 'Sheesh Mahal' during Arvind Kejriwal's tenure.
Rahul Ramagude plays cricket from a wheelchair. Geeta Chauhan is a wheelchair racer with Olympic aspirations. Siddanth uses technology to enhance movement coordination of mentally challenged children. On the International Day of the Disabled, A Ganesh Nadar meets three youngsters making a difference.
State Bank of India (SBI), India's largest lender, is looking to raise Rs 10,000 crore through 15-year infrastructure bonds as early as next week, said multiple sources aware of the development. Market participants expect a coupon in the range of 7.15-7.18 per cent for SBI's upcoming infrastructure bond issuance. This comes as demand for longer-tenor papers has remained strong in recent domestic capital market offerings.
'When people have money in their hands, they make their judgment about whether they want to spend it entirely or spend some out of it.'
Central Bank of India classified its loans to Go First as non-performing assets (NPAs) in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24). The no-frills carrier has been under insolvency proceedings since May 2023 and ceased operating flights on May 3 this year. The public sector lender's exposure, including government-guaranteed emergency credit to the ailing airline, amounts to about Rs 2,000 crore.
Considering the competition, engineering aspirants should ideally consider taking a minimum of five to seven entrance exams to maximise their chances of success and broaden their options when it comes to college, says rediffGURU Nayagam PP.
The Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) have intensified their investigations against Gaurav Mehta, a suspect in a Bitcoin Ponzi scam, following allegations that politicians may have been involved in using cryptocurrency to influence Maharashtra assembly polls. The ED searched Mehta's residence in Raipur and seized computers and digital devices. The CBI summoned him to appear before investigators. The ED is probing Mehta's potential links to politicians, politically exposed persons, and bureaucrats as part of its money laundering probe. The allegations came after BJP released purported voice notes suggesting that Congress and NCP leaders were attempting to use cryptocurrency for election campaigning. Both parties denied the claims, calling the voice notes fake.
Dubious and personal expenses of Rs 1,000 crore were made from bank-loan funds for Jet Airways founder Naresh Goyal and his family members even as the airline "diverted" money to some tax havens, the Enforcement Directorate (ED) alleged on Saturday, after arresting the businessman in a money-laundering case. Goyal (74) was taken into custody late on Friday night after the central probe agency took him to its Mumbai office from Delhi. A special court set up to deal with cases lodged under the Prevention of Money Laundering Act (PMLA) on Saturday sent him to the ED's custody for 10 days, till September 11.
Asked whether this was being done to "shield" the chief minister who is facing a probe in the Mysuru Urban Development Authority site allotment case, Patil said: "On CM there is a court order for Lakayukta probe, so there is no such question."
The Aam Aadmi Party dismissed the allegation as "baseless" and claimed it was "another conspiracy hatched by the BJP" to tarnish AAP's image ahead of voting for Lok Sabha seats in Delhi and Punjab.
The need for a manufacturing policy, reining in food inflation and raising investment in the country were among key suggestions given by economists who met Finance Minister Nirmala Sitharaman and senior ministry officials in the first round of pre-Budget consultations on Friday.
Did the fear of central agencies probing scams involving NCP leaders that forced these politicians to jump ship?
In a notification, the Union home ministry said the HuT is involved in radicalisation and motivation of gullible youth to join terrorist organisations, such as ISIS, and raising funds for terror activities.
'Challenge is basically near-term growth as the outlook has turned a bit adverse.'
The Supreme Court of India expressed deep concern over the rising drug abuse problem in the country, highlighting the impact on youth and the need for urgent intervention. The court emphasized the need for rehabilitation rather than demonization of drug users and called for open discussions to address the issue. The judgment came while granting bail to a man accused in a heroin smuggling case. The court cited a 2019 report that indicated a significant number of people in India use opioids, cannabis, and other substances, with alarming trends in opioid dependence.
Employees Provident Fund Organisation (EPFO) will migrate to a new information technology (IT) system within the next three months, Union labour minister Mansukh Mandaviya said on Wednesday. In July last year, a clutch of officers at the retirement fund body had written a letter to the Central government complaining about archaic and "collapsing" software systems. Subscribers too were facing problems due to it.
Anmol Bishnoi, the younger brother of jailed gangster Lawrence Bishnoi, has been arrested by US law enforcement authorities in Iowa. He is wanted in connection with several criminal cases in India, including the murder of NCP leader Baba Siddique and the firing outside actor Salman Khan's Mumbai home.
The bottom lines of several private sector banks have taken a hit following the recent guidelines released by the Reserve Bank of India (RBI) on alternate investment fund (AIF) investments. Last month, the RBI announced that regulated entities, such as banks, non-bank lenders, and home financiers, cannot invest in AIFs that have directly or indirectly invested in companies that have borrowed money from the lenders. In case an entity had already made such an investment, they must liquidate the investment or make 100 per cent provision, RBI had said.
Two passengers died and 75 others were rescued after a speed boat crashed into a ferry off the Mumbai coast. The ferry, carrying 80 passengers and five crew members, was on its way to Elephanta Islands when the speed boat circled it before crashing into it. The Navy and Coast Guard launched a massive rescue operation, with 11 Navy boats, three Marine Police boats, and a Coast Guard boat deployed. Four helicopters were also involved in the search and rescue operation. Police, Jawaharlal Nehru Port Authority personnel, and local fishermen are assisting in the rescue efforts. Chief Minister Devendra Fadnavis said that seven to eight passengers remain missing.
The government's initiative to migrate SEZ data from NSDL software to ICEGATE system for streamlined reporting of import data caused double counting of gold imports, resulting in inflated figures and the issue has now been largely rectified, government sources said. The downward revision has provided the actual picture of trade deficit (difference between imports and exports), which was earlier looking very high. The deficit for November will now be revised downwards from $37.84 billion to about $32.8 billion. Similarly, there will be a revision in overall import numbers as well.
An Enforcement Directorate team undertaking searches in a cyber fraud linked money laundering case was allegedly attacked in New Delhi on Thursday, officials said.
Prospects of a bumper kharif harvest are expected to lower food inflation in the coming months, making the country's inflation outlook benign, the Union Ministry of Finance (FinMin) said in its monthly economic report for October released on Monday.
The government has approved the 'Terms of Reference' for the 16 Finance Commission, which makes recommendations on sharing of tax revenues between the Centre and states. The recommendations would cover a five-year period commencing April 1, 2026, Information and Broadcasting Minister Anurag Thakur said on Wednesday, giving details about the decisions taken at the Cabinet meeting last evening. The commission would submit its report by October 31, 2025, Thakur said.
'The message that we intend to leave with at the end of this trip is one of real gratitude for the friendship and the close partnership that President Biden and Prime Minister Modi have enjoyed over the last four years, but also one of tremendous optimism because we see a lot of opportunity in the future.'
The Covid winter seems to be finally ending for debt-oriented mutual fund (MF) schemes as interest rates peak, especially for those that invest in shorter-maturity papers. In the past two months, shorter-horizon debt schemes - ultra-short, low-duration, and money-market - have together raked in net inflows of Rs 48,000 crore, the highest for two months since April-May 2021. These schemes invest in shorter-maturity papers ranging from three months to a year.
Union Cabinet on Thursday approved two major schemes -- PM Rashtriya Krishi Vikas Yojana and Krishonnati Yojana -- with an expenditure of over Rs 1 lakh crore to promote sustainable agriculture and ensure food security.
He asserted that it was time to "throw such forces out" to protect "mati, beti, roti" (land, daughter, bread).
Besides high portfolio yield, investors may enjoy capital gains in debt funds in 2023 as bonds rally in anticipation of rate cuts.
Even Ajmal Kasab was given a fair trial in our country, the Supreme Court on Thursday remarked and indicated it may set up a courtroom inside Tihar Jail for the trial of J-K separatist leader Yasin Malik in a kidnapping case.
'The pace of disbursement and project recommendation picks up as the tenure of the House draws near and usually all amount is released.'
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