The Reserve Bank of India (RBI) on Friday hiked repo rate by 50 basis points to 5.90 per cent in order to control the rising inflation, keeping in line with the aggressive policies of central banks and the volatile markets prevalent across economies. RBI Governor Shaktikanta Das announced the rate hike today. In the meeting of the Monetary Policy Committee (MPC) that started on Wednesday, five of the members of the MPC voted to hike the key lending rate, repo rate, by 50-basis points (bps).
Their favourite alternatives: Malaysia, Vietnam and the Philippines. Note, India is missing from that list. And this is despite an attractive financial incentive scheme for OSAT players. The reason, said a senior executive of a US chip company who had a meeting in Taiwan just a few weeks ago, is that "they want more predictability in government policy because they plan to put in big money."
'Thankfully, most investors in India have now seen through this false narrative and are once again deploying their hard-earned money.
'Look not just at the interest rate but also the processing fee.'
HDFC Bank Q4 review: HDFC Bank's January-March quarter (Q4) results, for financial year 2022-23 (FY23), brought no cheer to investors as elevated costs, and merger-related uncertainties continue to dent the sentiment. Moreover, analysts fear that merger-related costs may put pressure on margins and cost to income ratio in the near-term, while the return on equity could moderate owing to low leverage of the parent. Analysts, therefore, opine that the stock's re-rating may be some time away. "While the risk of a de-rating on a standalone basis appears to be quite low given that the business performance is holding up well, we believe a re-rating in the stock would happen as and when more clarity emerges on the smooth transition (merger)," said a report by Sharekhan.
MMFs are a good option for the current environment, observes Sarbajeet K Sen.
'The corruption charges in FCI are not the first and won't be the last.'
It is alleged that Chandrashekhar to purchase gifts for Fernandez used illegal money, extorted by cheating high-profile people including former Fortis Healthcare promoter Shivinder Mohan Singh's wife Aditi Singh.
Rates on tax-free bonds are linked to government securities.
Investors who issued units in liquid and overnight funds, as well as those with a short-term holding of less than 30 days, are likely to be impacted the most, say experts.
Demonetisation is the biggest reason for the rise in preference for small savings.
Debt-ridden mortgage firm DHFL's shares would be delisted from stock exchanges post acquisition by Piramal Capital and Housing Finance, which has emerged as the successful bidder for the company. As part of resolution process under the Insolvency and Bankruptcy Code (IBC), lenders led by Union Bank of India in January this year favoured the bid by Piramal Capital and Housing Finance to take over the beleaguered housing finance firm. According to sources, shares of DHFL would be delisted post acquisition as per the IBC guidelines and Sebi delisting norms.
Yes Bank users can now make over Rs 2 lakh payments towards loans, credit cards via other bank accounts.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The government has approved 8.1 per cent rate of interest on employees' provident fund (EPF) deposits for 2021-22 -- an over four-decade low -- for about five crore subscribers of retirement fund body EPFO. Earlier in March this year, the Employees' Provident Fund Organisation (EPFO) had decided to lower the interest on provident fund deposits for 2021-22 to 8.1 per cent from 8.5 per cent provided in 2020-21. According to an EPFO office order issued on Friday and reviewed by PTI, the Ministry of Labour and Employment has conveyed approval of the central government to credit 8.1 per cent rate of interest for 2021-22 to each member of the EPF scheme.
With the Union Budget over, it is a good time to start the rebalancing exercise. Take cues from last year's market performance
According to sources, Preneet Kaur, a Congress MP, is believed to have voted in support of the report.
'The amount involved could as high as Rs 3,500 crore as there are a lot of depositors.' 'Yesterday, I met an investor who put in Rs 4 crore. That man doesn't have Rs 2,000 to spend on medicines.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
Tax Guru Anil Rego answers your personal income tax queries.
Funds made investments worth Rs 64,602 crore (Rs 646.02 billion) in the debt market during June, higher than Rs 26,840 crore (Rs 268.4 billion) in May, as per the latest data available with market regulator Sebi.
For the first time in the history of Budget-making in India, a single Budget will touch 65 crore Indians, says Shailesh Haribhakti.
Saving is not the same as investing as many people wrongly assume. But what's the difference between the two? How does each benefit you. Larissa Fernand has the answers
The searches are in connection with alleged violation of foreign direct investment norms that is linked to an earlier case of revocation of Foreign Contribution (Regulation) Act licence of the NGO by the Union home ministry in 2010, the ED said.
RBI wants the lending rates to be determined by the market.
Harry Markowitz, a Nobel laureate in economics, introduced modern portfolio theory, a theory of finance that shows how risk averse investors can construct portfolio to maximize expected return for a given level of risk or to minimize risk for a given level of expected return.
For the wealthy, post-tax returns of debt funds would work out better
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
Yes Bank customers will be able to access full banking services from Wednesday evening, as the moratorium will be lifted earlier. The RBI had on March 5 put a moratorium on Yes Bank restricting withdrawals to Rs 50,000 per depositor till April 3. However, the government in a notification on Saturday said the moratorium will be lifted by 18:00 hrs on March 18.
RBI has also announced new guidelines to price loans from April 1.
The Directorate General of Civil Aviation has been asked to open up bookings of SpiceJet till March 31, 2015, while airport operators have been asked to provide 15 days to the airline company for making payments.
Indian Judoka, Avtar Singh's parents take maiden flight to cheer son, who will go up against Pople Misenga from the Olympic Refugee Team. Read on about the intense and interesting story of both Judokas...
Shifting to floating rate deposits can work as an anaesthetic gel for some customers, points out Tamal Bandyopadhyay.
NSC scores high on all three parameters that conservative investors are seeking -- safety, tax-adjusted returns and liquidity.
Ask your bank to save for you. Plan your taxes. Reward yourself for your addictions... Chartered accountant Shreya Jaiswal's 10 ways to make more money this year.
All India Anna Dravida Munnetra Kazhagam (AIADMK) interim general secretary Edappadi K Palaniswami (EPS) and ousted party leader O Panneerselvam on Tuesday moved the Madras high court against the sealing of the party headquarters by the Tamil Nadu government following violence there on July 11.
The bank's base rate currently stands at 10 per cent and the last movement in it was in November last year, when it was hiked by 0.20 per cent.
These banks need to build a significant deposit base to start full-fledged banking.
Parens must start preparing to save fortheir children's higher education at an early stage.
The deal was signed by representatives of Bru, the central, Tripura and Mizoram governments in presence of Union Home Minister Amit Shah. Under the agreement, over 30,000 Bru tribals will live in Tripura permanently, Shah said.
