A child turning major is a big event in her/his financial life.
Finance Minister Pranab Mukherjee is set to hold his first Budget related meeting with 28 financial advisors of various ministries and departments.
In yet another major setback to YSR Congress President Jaganmohan Reddy, the Andhra Pradesh high court on Saturday remanded him to a Central Bureau of Investigation's custody for five days while dismissing his petition for declaring his arrest as illegal.
For the time being, digital lending remains a grey area, notes Tamal Bandyopadhyay.
Kadapa Member of Parliament Y S Jaganmohan Reddy today appeared before the Central Bureau of Investigation in Hyderabad amid heavy security for the third consecutive day today for his questioning in the alleged disproportionate assets case registered against him.
The ministry of finance is likely to assume crude oil price to remain within $85 per barrel while estimating subsidies for the Interim Budget 2024-25 (FY25), to be presented on February 1. Brent crude prices moved up on Thursday, ending at $78.9 per barrel. Crude oil and cooking gas prices, which move in tandem, impact fertiliser and cooking gas subsidies, constituting 53 per cent of the government's total subsidies.
Bankers said the outlook of M&As in India in 2024, especially in the second half after the Lok Sabha election, seems relatively better.
A buoyant equity market, coupled with an improved performance of mutual funds (MFs) on the returns chart, has heightened retail investors' appetite for equities. In the past few months, equity MF schemes have seen a surge in fresh investments through both lump sum (one-time investments) and systematic investment plan (SIP) routes. During the August-September 2023 period, equity MF schemes recorded net lump sum investments of Rs 35,270 crore, compared to just Rs 5,550 crore in the previous three months, according to data from the Association of Mutual Funds in India (Amfi).
It is not often that the head of a regulator is removed by the nodal ministry, even after the Appointments Committee of the Cabinet (ACC), headed by the prime minister, clears an extension.
'There is not any negative connotation associated with it.'
To help you evaluate the two options, we list out the pros and cons of both sides. With different financial implications, the option that may suit you greatly depends on your financial needs. Read on to understand this.
Following alterations in the tax structure, mutual fund (MF) schemes that invest in overseas securities have experienced a sharp decline in inflows. In the first five months of 2023-24 (FY24), international MF schemes have received an average monthly gross inflow of only Rs 270 crore, compared to Rs 490 crore during the same period in the previous year. This decline persists despite nearly all fund houses opening subscriptions for such schemes, with higher redemptions creating headroom for fresh investments.
'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'
The corporate health policy ceases under following circumstances: The company winds up; you resign or you are terminated from the company; you retire from the services at the age of 60; the company decides to withdraw the health policy benefit to employees, i.e. there is no law that the company should provide health policy to employee; most corporate policies also have restrictive covers.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
'The stockbroker should have a good balance sheet to support its scale of operations. It should also have proper risk management in terms of margins so that it doesn't go bankrupt during extreme market movements.' 'The broker must have a track record of navigating several market cycles in an ethical and transparent manner.'
Fundraising via initial public offers (IPOs) dropped 52.2 per cent to $147.2 billion in the first eight months of calendar year 2023 (CY23), suggests a recent report by GlobalData, a London-based analytics and consulting company. At the country level, the report suggests, India topped the charts with 152 transactions worth $3.8 billion during this period, primarily due to a higher number of SME IPOs, followed by the US with 99 deals totaling $16 billion, while China ranked third with 88 transactions worth $32.3 billion. "An analysis of GlobalData's Deals Database reveals that there were 750 IPO listings registered with an aggregate deal value of $147.2 billion in the first eight months of 2023 on the stock exchanges worldwide.
ICICI Bank was looking at valuing ICICI Holdings at $10 billion, sources said. Vishaka Muley, chief financial officer of the group, refused to comment on the development.
If you are overweight on fixed-income instruments, go for ELSS, and vice versa.
The Reserve Bank has told the International Monetary Fund (IMF) that the objective of frequent interventions in the forex market is to curb excessive volatility, dismissing the Fund's rationale for reclassifying India's exchange rate regime. The IMF, following the Article IV consultation with the Indian authorities, reclassified the status of the exchange rate regime to "stabilised arrangement" from "floating" for period between December 2022 to October 2023. India's Executive Director at IMF K V Subramanian and Senior Advisors Sanjay Kumar Hansda and Anand Singh questioned the selection period adopted by the Fund for analysis and also reclassification of the country's exchange rate regime.
RBI recently cut repo by 0.25 percentage point, taking the rate to 7.25 per cent in three reductions since January.
'Sheikh Abdullah ruled the state with secular values. Post 1953, when he was sacked, corruption took over governance.'
Parkway, which is the biggest listed hospital chain in Asia, is now at the centre of a probable bidding war between the Singh Family-promoted Fortis Healthcare and Khazanah.
These plans are best suited for individuals with a lower risk appetite as they provide guaranteed benefits.
India's largest domestic drug maker, Cipla, sold its emergency contraceptive brand, i-pill, to Piramal Healthcare in a deal worth Rs 950 million
The three year lock-in period enables ELSS fund managers to invest in high conviction stocks for a long period of time because of relatively less redemption pressure, says Dwaipayan Bose
'There have been many cases where clients have indicated that they feel suicidal as they feel they have no other options to deal with their financial hardship.'
When the subscriber reaches superannuation or the age of 60, 60 per cent of the total corpus accumulated in NPS can be withdrawn as a lump sum.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
The Union government is projected to share about 32 per cent of central taxes with states during the financial year 2024-25 against the 15th Finance Commission's recommendation of 41 per cent. The Revised Estimates (RE) for FY24, too, show a similar share of states in the central taxes at 32 per cent. In absolute terms, however, there has been an increase in the amount devolved to states compared to the Budget Estimates (BE) for FY24 at Rs 11 trillion.
Unlike bank FDs that are considered risk-free investments, NCDs do carry a certain amount of risk, primary among them is the risk of default, either servicing the interest payment or meeting their principal repayment obligations.
Merrill Lynch financial advisor Raj Sharma has been named one of America's 100 Top Brokers by the Barron's magazine.
rediffGURU Ulhas Joshi recommends five factors you need to look at to evaluate the performance of two schemes.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
The government has ordered an enquiry and asked a senior FCI official to proceed on leave.
Fortis Healthcare has already received binding offers from four entities - KKR-backed Radiant Life Care, IHH Healthcare, Manipal/TPG consortium, and Munjal and Burman family offices.
DRDO's failures over the decades have contributed significantly to India becoming the world's biggest weapons importer, points out Lieutenant General Prakash Katoch (retd).
'Countries like Israel said openly that they will hunt people down. We have no such policy.' 'We have always been following the legal process of getting them (people wanted by India) through extradition.'
Policy owners need to avoid errors on their part to prevent claims from being denied.
E.K. Bharat Bhushan has assumed charge as chairman & managing director of the National Aviation Company of India Limited.
