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.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Indian Oil Corporation, the country's largest fuel retailing firm, has demanded a hike in security deposit on cooking gas LPG cylinders to Rs 900 in view of the spurt in steel prices.
Mukesh Ambani-led RIL, which had a cash chest and marketable securities worth over Rs 90,000 crore (Rs 900 billion) at the end of the last fiscal, is known for very effectively managing its financial resources by placing them in liquid instruments and highly rated securities.
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
Commemorating 75 years of India's independence, SBI has launched a 75-day Utsav Deposit Scheme, offering 6.10 per cent for fixed deposits. Senior citizens will get an additional 0.50 per cent and the offer is on until October 30, SBI said.
'Who has given how much money to which party, the people of India must know this fact.'
High volatility in the stock market coupled with falling inflation has brought back fixed deposits as an attractive investment avenue for the investors who are looking for fixed returns.
These plans are best suited for individuals with a lower risk appetite as they provide guaranteed benefits.
SBI Q3FY24 result review: A higher-than-factored weakness in the October-to-December quarter (Q3) results of State Bank of India (SBI), for financial year 2023-24 (FY24), has prompted brokerages to cut earnings estimates for the ongoing financial year. They, however, have maintained 'Buy' ratings on the stock, revising target price upwards in some cases, owing to the stock's recent underperformance relative to its peers.
Reserve Bank Governor Shaktikanta Das on Wednesday said that RBI is monitoring the situation regularly with regard to the withdrawal of Rs 2,000 currency notes and expressed confidence that the entire exercise will be completed in a non-disruptive manner. The Reserve Bank of India (RBI) on Friday announced the withdrawal of Rs 2000 denomination banknotes as part of its currency management and permitted the exchange of Rs 2000 currency notes up to Rs 20,000 in one go from Tuesday onwards. The exchange or deposit window is available until September 30, 2023.
Since MAAFs invest across multiple asset classes, they offer diversification.
Much depends on how the liquidity situation evolves over the coming months, with greater clarity expected from the next monetary policy meeting scheduled for December 7.
A European cargo airline has moved the National Company Law Tribunal seeking expeditious acquisition of three Jet Airways B777-300 aircraft. The application is by a Malta-based Ace Aviation VIII Limited, which emerged as a successful bidder in the auction of three Boeing 777-300ER aircraft. The firm is part of a Belgium-based cargo airline and its application will be heard on Wednesday.
The BJP has played the social engineering card in Rajasthan with an eye on the Lok Sabha election where the party will try and retain all the 25 seats that it had won in the 2014 and 2019 elections.
Avoid discontinuing your SIPs. Persist for at least 7-10 years.
The mutual fund (MF) industry added a record Rs 10 trillion to its total assets under management (AUM) in 2023, taking the cumulative tally past the Rs 50 trillion mark for the first time, in December. This 20 per cent growth in AUM last year was fuelled by a robust rally in the equity markets and a record Rs 1.62 trillion net inflows into active equity schemes. In another first, the AUM linked to systematic investment plans, too, hit Rs 10 trillion by the end of 2023.
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
Based on the current momentum, the funds likely to be raised through the RBI's relaxed window would be $3.5 billion-$4 billion.
"The people are completely frustrated with this government. Now, people are raising their voice, they are saying that everyone (political parties) will have to come together under Congress' leadership to fight against them (BJP)," he added.
'Modigate is snowballing into a huge thing with the electorate. The BJP is in for huge punishment by the electorate.'
Avoid investing in a new ELSS scheme each year. Stick to one well-chosen scheme to avoid clutter in your portfolio.
The EPFO is likely to decide soon the rate of interest on PF deposits for 2013-14, which is expected to be over 8.5 per cent.
India were sitting pretty on 473/8 in 120 overs at stumps on the second day for an overall lead of 255 runs.
Overall, small savings have amassed Rs 1.17 trillion from April-September - 26 per cent more than the previous year. But in those six months, the economy lost 24 per cent in the first three months, and is slated to lose 10 per cent in the second quarter.
Amit Shah wants to increase the party's nationwide vote share by at least 10 per cent from the 37.7 per cent it secured five years ago and ensure above 50 per cent vote share in the states where it came close to that benchmark, but couldn't cross it.
Disposing of the plea on August 1, special judge AK Lahoti, however, noted the contentions raised by the accused are kept open and he is at liberty to point them out at the time of final hearing.
Despite the uncertainties created by rising bond yields and oil prices, fund managers have been proactively deploying fresh flows into the equity market. The cash available with equity fund managers, which has remained lower at around 5 per cent in the past few months, hit a 16-month low of 4.8 per cent in September, shows a Motilal Oswal Financial Services report. Cash holdings in equity schemes had topped 6 per cent in February amid subdued equity market sentiment.
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Stating that there are strong inter-linkages between banks, NBFCs and other deposit-taking entities, he said for monetary policy to be effective and financial markets to remain stable, they should be regulated by the central bank.
The case against Balaji and his aides pertains to his tenure as the state transport minister in the All India Anna Dravida Munnetra Kazhagam government during 2011-15.
Russia moves forward with the plan as part of the plan to deploy tactical nuclear bombs in the country bordering Ukraine.
'There are multiple ups and downs.' 'You should be able to withstand all that.' 'You need to have the temperament to run a marathon.'
If you spread your investments and get exposure to many asset classes, then that is called diversification. Asset allocation is the process of allocating your money to different investments. And they offer tremendous advantages, says Rishi Piparaiya.
An interesting imaginary conversation between Kirtan A Shah and an investor about how investing in mutual funds is better than investing directly in stocks.
In 5 years, the average demand for gold has been 895 tonnes annually.
Post your financial planning queries for rediffGURU and financial planning expert, Colonel Sanjeev Govila.
Initially, she was summoned by the agency on Monday but it was deferred by a day.
Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting with the government over the fallout of Silicon Valley Bank's collapse. Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to the finance minister on behalf of start-ups.
Here are the highlights from the Lashkar terrorist's deposition on Day 4.
