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Should HNIs look at private credit as an investment option? 6 experts answer
Private credit is rapidly emerging in India as an alternative investment option, offering tailored solutions and higher yields than traditional fixed-income strategies. Despite higher risk, lower default rates in India make investments in private credit viable.
Which equity mutual funds outperformed their benchmarks in 3 years? Heres the list
AdaniConneX sets benchmark with construction financing framework of $1.44 billion
AdaniConneX, a joint venture, raised USD 1.44 billion in India's largest sustainability linked financing. The construction financing pool now stands at USD 1.65 billion, focusing on advanced technologies and environmental solutions, with support from international lenders and industry partners.
New upgradable ATMs to be introduced soon; details here
Hitachi Payment Services has launched upgradable ATMs which will enable banks to safeguard their investment and expand their services to include cash deposit facility at a later stage based on their business needs and local market conditions.
6 ELSS mutual funds outperform their benchmarks in 3,5,7, and 10 years
Income Tax: Selling jewellery to buy a house? You can claim exemption on capital gains
Section 54F of Income Tax (I-T) Act allows taxpayers to claim exemption of capital gains tax by buying residential property from the proceeds of jewellery sale
MTN MoMo South Africa becomes the first non-banking player to offer PayShap
MTN South Africa has partnered with Investec and Electrum to introduce PayShap, an instant payment platform, on its MTN Mobile Money (MoMo) platform to close the []
Blockchain and AI in the international banking system
Blockchain and AI as a strength to the international banking system: Blockchain Opening an account: Individuals can open an account or deposit cash through their phones. Usability of...
Shedding light on the undervalued segment and MFs available in the space
IDFC First Bank Q4 Results: Standalone PAT declines 10% to Rs 724 crore
IDFC First Bank Q4 Results: IDFC First Bank announced a net profit of Rs 724.35 crore for the quarter ending on March 31, marking a decrease from Rs 802.62 crore reported in the corresponding period last year. In the January-March quarter, IDFC First Bank recorded an interest income of Rs 8,219.21 crore, showing an increase from Rs 6,424.35 crore reported in the same period a year ago. This signifies a 28% rise on a year-on-year basis.
Yes Bank recorded 5 mn UPI transactions per month after Paytm tie-up: CEO Prashant Kumar
Yes Bank MD and CEO Prashant Kumar said it recorded 3.3 million before the partnership.
PFRDA releases revised NPS charges for PoPs; here are the details
Point of Presence (PoPs) are entities appointed by the PFRDA to provide services to all the citizens of India to open and operate their NPS accounts.
ICICI Bank Savings Account: Top changes in tariffs to be valid from May. Check details
ICICI Bank offers customers a range of savings accounts, from basic to premium, based on their specific requirements. With these savings accounts, customers can bank from anywhere and at any time.
Japan's Sharp plans to set up $3-5 billion display fab semiconductor unit in India
Sharp is currently exploring potential locations for the manufacturing setup and has been in talks with state governments in Telangana, Gujarat, and Maharashtra. The company has also expressed its intention to establish the factory in India as a global manufacturing hub, serving key markets worldwide.
Bima Trinity: IRDAI may peg Bima Vistaar at Rs 1,500 per individual
Bima Vistaar will include life cover with a premium of Rs 820, health cover at Rs 500, personal accident cover at Rs 100 and property cover at Rs 80.
NPS assets surge 27.85% y-o-y till April 20, non-government sector grows 39%: Report
The non-government sector, which is corporates and retail, saw a 38.88 per cent year-on-year growth in its NPS assets to Rs 2.27 lakh Crore.
How to stay protected from pig butchering financial scams? Here are 7 key steps
Pig butchering, a form of smishing, is on the rise in India's cyber fraud landscape. Scammers build trust through social media, offering fake job roles and investments to drain victims' finances. Here's how to avoid them
Apollo 24/7 secures Rs 2,475 cr investment and 12.1% Advent stake in mega merger with Keimed
The combined entity is valued at Rs 22,481 crore, positioning it as a leading retail health company in India. The merger aims to deliver substantial industry benefits and a pan-India presence, enhancing access to genuine medicines for 1.4 billion Indians within 24 hours.
Tortured Poets Department: 5 valuable money lessons from Taylor Swifts new album
Taylor Swift's new album Tortured Poets Department is a hit among fans. Smart investors can learn from her songs about heartbreak and resilience. Having a backup plan is crucial in the financial world, just like knowing when to move on from bad investments.
S&P 500 Q1 earnings estimated growth improves; stocks up for week
S&P 500 year-over-year earnings growth for the first quarter of 2024 is now seen at 5.6%, according to LSEG data on Friday. That is up from 4.3% the day before.
Wall Street Week Ahead: Lofty US stocks leave investors punishing earnings disappointments
Strong reports from Microsoft and Google parent Alphabet on Thursday helped propel the S&P 500 to its biggest weekly gain since early November following its first 5% pullback of the year. The S&P 500 is up about 7% in 2024 and some 24% since late October.
Wall Street Humbled as Fast-Reversing Markets Confound the Pros
With inflation up, economic growth down and two-year Treasury yields testing 5%, Bill Gross sensed the music in markets was fading, and said it was time to get over the likes of the Magnificent Seven.
Banks Revise Savings Account Charges: The month of April is about to end. Many new rules and changes are implemented at the beginning of a new month. Meanwhile, the service charges of big banks will also be changed. Know which bank changed its service charges? Yes Bank- According to the Yes Bank website, the minimum average balance of different variants of savings accounts has been changed. The minimum average balance in Account Pro Max will be Rs 50 thousand. A limit of Rs 1,000 has been fixed for the maximum charge. Now the minimum balance in Saving Account Pro Plus, Yes Essence SA, and Yes Respect SA will be Rs 25 thousand. The maximum limit of charges for this account has been fixed at Rs 750. Along with this, now the minimum balance in Saving Account Pro will have to be maintained at Rs 10,000 and the maximum limit for charges has been fixed at Rs 750. These changes will come into effect from the first of May. ICICI Bank- ICICI Bank has also changed the rules of service charges related to savings accounts. Now for debit cards, customers will have to pay an annual fee of Rs 200 in urban areas and Rs 99 in rural areas. Along with this, now no fee will have to be paid for the 25 page checkbook of the bank. However, after this, a fee of Rs 4 per check will have to be paid. The bank informed on its official website that these changes will come into effect from May 1, 2024. For DD or PO cancellation or duplicate revalidation, Rs 100 will have to be paid and for transferring money through IMPS, Rs 2.50 will have to be paid on every transaction amount of Rs 1,000. Let us tell you that Axis Bank has changed the rules of the minimum average balance of its savings and salary accounts, which have come into effect from April 1, 2024. PC Social media
RBI shares guidelines norms for voluntary conversion of SFBs into universal banks
The central bank has said the SFBs aspiring to become a universal bank need to have scheduled status with a satisfactory track record of performance for a minimum period of five years.
Consumer spending on mobile services soared in October-December, driven by World Cup
Consumer spending (after GST) on mobile services rose 2.5% sequentially to around Rs 54,750 crore during the period the third quarter of FY24 as per the latest sector performance data released by Trai. In the fiscal second quarter, this growth was 1.84%. Spending on data was Rs 47,560.3 crore, up 3.4% from the previous quarter when the sequential growth was 3%.
Spirits market in India is surging at a record pace: Main factors and trends
After the low during the pandemic when the spirits market shrank to 311 million cases in FY21, it recovered swiftly to add about 100 million cases in annual sales in just three years, reaching 412 million cases in FY24, industry executives said, citing latest excise department data.
Public sector banks may get legal teeth on issuing lookout circulars
This follows a decision by the Bombay High Court earlier this week that said public sector banks (PSBs) dont have the power to recommend, or ask, the central government for the issuance of LOCs against defaulting borrowers.
INOXGFL plans to invest Rs 20,000 cr in green energy, chemicals business
The group operates in two broader segments-chemicals and renewables-comprising fluoropolymers, fluorochemicals, solar, green hydrogen and wind energy. Of the total planned investment, 60-65% is likely to go towards renewable energy addition, Jain said.
RBI sets eligibility rules for SFBs seeking universal banking licence
RBI said that listed and profitable small finance banks with gross non-performing assets ratio less than 3% for last two fiscals can apply for universal banking license. Additionally, they need to have a net non-performing assets ratio less than 1% for the last two financial years. They also need to be profitable for the last two fiscals.
Small finance banks seeking universal banking license need at least Rs 1,000-crore net worth: RBI
RBI said that listed and profitable small finance banks with gross non-performing assets ratio less than 3% for last two fiscals can apply for universal banking license. Additionally, they need to have a net non-performing assets ratio less than 1% for the last two financial years. They also need to be profitable for the last two fiscals.
Demat Account: 10 crucial things you should keep in mind as a beginner
When opening a demat account, consider factors like broker reputation, account opening charges, and AMC. Choose brokers with intuitive trading platforms and research tools. Evaluate brokerage fees, customer support, account features, and security measures.
Home Loans: Top 5 banks including HDFC, SBI with lowest rates of interest check full list
HDFC Bank charges interest rate on its home loan in the range of 9.4 to 9.95 percent per annum. SBI charges a rate that hovers between 9.15 percent and 9.75 percent based on the borrowers CIBIL score.
RBI releases draft regulation for web aggregation of loan products in digital lending
The RBI said banks and NBFCs should ensure that their LSPs provide a so-called digital view of all the loan offers available to the borrower from all the willing lenders that the LSP has arrangements with.
Demat Account: What is loan against securities and what are its benefits?
A loan against your demat shares allows you to obtain credit by using your shares as collateral. This enables you to leverage your investments without having to sell your shares to access the capital. The loan requires no additional collateral beyond the shares already held in your demat account.
HCL Tech Q4 Results: PAT rises marginally to Rs 3,995 crore, misses estimates
HCL Tech' net profit was recorded at Rs 3,981 crore in the year-ago period.
Delhi HC asks DGCA to deregister aircraft of Go First airline lessors in 5 working days
The court ordered that all maintenance tasks in respect of the aircraft shall be undertaken by the lessors and all of their authorized representatives up to and until the time the aircraft are de-registered and exported, in pursuance of Rule 32A of the Aircraft Rules.
Multibagger KSB announces 1:5 stock split
The board of pump and valve maker KSB on Friday approved splitting its shares in the ratio of 1 to 5.
4 fixed income sources every Gen Z needs for stability
Gen Z faces financial uncertainty due to global crises, student debt, and rising costs. A fixed income helps in budgeting, credit building, and planning for the future, empowering them to pursue long-term goals.
Demat Account: What is futures trading and how does it work? MintGenie explains
To trade futures, ensure your demat account is enabled, understand futures contracts and margin requirements, choose a brokerage platform, fund your trading account, place orders according to your strategy, monitor positions closely, and be aware of the risk of capital loss.
Kotak Mahindra Bank faces setback in credit card growth, profitability due to RBIs curbs: S&P Global
The global ratings agency said the curb will not materially affect Kotak Banks ratings (BBB-/Stable/A-3) as credit cards make up a small (4 per cent of total loans) portion of the portfolio.
Stock market update: Nifty Pharma index advances 0.62%
The Nifty Pharma index closed 0.62 per cent up at 18994.65.
Gold, silver price on April 26: Yellow metal finds stability around Rs 70,700 in MCX
The US economic data for Q1 2024, including an annualised 1.6% expansion and a surge of 3.7% in the core PCE price index, has significant implications for gold prices.
How to consolidate multiple demat accounts? Here's a step-by-step guide
Consolidating your demat accounts involves a straightforward process, provided your shares are unencumbered and you have settled any outstanding payments to your broker.
Best mid-cap funds in 3 years: 5 schemes with up to 26.6% returns
ICICI Bank app glitch leaks credit card details: Is your ICICI Bank credit card safe? What bank says
Big banks like Yes Bank, ICICI Bank have revised their savings account charges and some credit card rules with effect from May 1, 2024. Let us take a look at all the money changes that will come into effect in May 2024.
PAN-Aadhaar linking: Tax Department defers penalty on TDS till May 31. Here is how to link both
Providing relief to those taxpayers who failed to link their PAN and Aadhaar by the June 30, 2023 deadline, the Tax Department has relaxed the deadline for imposing penalties and no action will be taken for a short deduction of TDS in case the assessee links his/her PAN with Aadhaar by May 31
Shriram Finance Q4 Results: PAT jumps 49% YoY to Rs 1,946 crore, NII rises 20%
The NBFC announced a final dividend of Rs 15 per share which will be paid to eligible shareholders before August 28.
CIBIL: Applying for an unsecured loan? These are the credit score requirements
While your CIBIL score is a key factor in determining your eligibility for an unsecured loan, banks consider other aspects of your financial profile as well such as your income, employment stability, existing debt obligations, and overall credit history.
Almost 50% population have PAN, gap between male & female closing: Income Tax dept data
The latest data showed that the gap between the number of male and female PAN holders still exists, but it is fast closing. As on March 31, 2024, 42.10 crore males have PAN cards vs 31.05 crore females.
SBI Card shares down 2.01% as Nifty drops
A total of 77,912 shares changed hands on the counter till 01:43PM (IST).
Demat account: From opening to transactions, here aredemataccount charges you must know
PI Industries shares up 0.08% as Nifty drops
A total of 1,701 shares changed hands on the counter till 01:28PM (IST).
Step-by-step guide on creating an online will
Mutual fund investment on hold for KYC? Know who can do re-KYC online and who has to do it offline
Sebi initiated this action due to revisions in the list of officially accepted documents (OVD). Previously, bank statements and bills were acceptable for mutual fund accounts, but they no longer hold validity.
Shree Cements shares up 0.99% as Sensex falls
A total of 267 shares changed hands on the counter till 12:37PM (IST)
CIBIL: How do personal loans affect your credit score?
Merely taking personal loan is not a positive move for the credit score; it can be good or bad depending on how you manage its repayment.
Which is a better investment: Gold mutual funds or gold ETFs?
You can always fall back on your gold investments in your darkest movements. With gold purchases through the web being now easy and available, you have to just choose between the various investment options after considering myriad factors.
MF central: Manage accounts with multiple fund houses at one unified platform; Here's how
Holding a number of mutual funds in a number of AMCs is not uncommon. It is, therefore, vital to manage all accounts with ease and comfort
Which stocks should investors pick from largecap private banking space: Chakri Lokapriya answers
Against this backdrop, the valuation where it is and also given the fact that the rural portfolio is still not really growing fast and because the rural India spend is still slow, against a combination of these factors I would stay away from the stock.
HDFC Mutual Fund launches Manufacturing Fund. Key things to know
5 types of documents you require for a term life policy
To prove your claim to be genuine, you have to submit all the genuine proofs regarding your income & health to the insurance company for them to assess risk & charge suitable premium. An insurance company cannot reject a genuine claim no matter how loss making the claim is.
Tech Mahindra shares zoom 10% as strong FY27 vision overshadows weak Q4 numbers
Tech Mahindra's shares surge despite profit drop, backed by new CEO's growth strategy. Analysts cautious yet optimistic about the company's future performance and turnaround plan.
Buy Laurus Labs, target price Rs 480: Motilal Oswal
Laurus Labs Ltd., incorporated in the year 2005, is a Mid Cap company (having a market cap of Rs 23412.68 Crore) operating in Pharmaceuticals sector.
Buy Macrotech Developers, target price Rs 1415: Motilal Oswal
Macrotech Developers Ltd. key Products/Revenue Segments include Property Development, Land Development Rights, Other Operating Revenue, Rental Income and Building Materials for the year ending 31-Mar-2023.
5 ways Gen-Z investors can turbocharge their wealth planning
Gen Z is revolutionising investing with a focus on financial independence and innovation. Setting clear financial goals and seeking professional advice can help navigate the investment journey with confidence.
$1.3 billion gone! Uday Kotak sees his wealth dip the most in 4 years after RBI torpedo
Due to a heavy selloff post the RBI directive, the banks founder Uday Kotak, the largest shareholder with a stake of almost 26%, saw his wealth decline by $1.3 billion.
Vedanta demerger likely to get nod from lenders by May end
Mumbai-listed Vedanta had announced a demerger in September last year. It intends to form six companies, each of which will house its different businesses - aluminium, power, oil and gas, base metals and steel. Goel reiterated that the demerger is on track to be concluded by the end of the calendar year.
Market Trading Guide: TVS Motor, JSW Steel among 5 stock recommendations for Friday
The S&P BSE Sensex closed 0.66% higher at 74,339, while the NSE Nifty50 index ended above the 22,550 level.
Centre backs RBI regulatory action against banks for failures to plug technological gaps
On Wednesday, the RBI asked private-sector lender Kotak Mahindra Bank to stop onboarding new customers through its online and mobile banking applications. It also barred the bank from issuing fresh credit cards.
Top Banking Jobs In India With High-Salary
Domestic carrier IndiGo orders 30 Firm Airbus A350-900 widebody aircraft
Low-cost carrier IndiGo expects deliveries of the A350s to start from 2027 and said that the new aircraft would use Rolls Royce's Trent XWB engines.
EPF passbook: This is how you can access your account details in 9 regional languages
The default language of EPF account details is English. So when you send the SMS, you will receive the information in the native language of Brits unless you categorically ask for in a regional language.
Demat Accounts: How to invest in ETFs? A step-by-step guide
Similar to traditional MFs, ETFs consist of a basket of securities that provide investors exposure to a variety of assets.
These six equity mutual funds delivered over 30% returns in five years
Around 186 equity mutual funds have completed five years in the market.
The Reserve Bank of India (RBI) barred Kotak Mahindra Bank from onboarding new customers through online and mobile banking channels. The regulator also put restrictions on the private sector bank on issuing new credit cards. Should the customers of Kotak 811 worry about their accounts? Can Kotak Mahindra Bank customers renew their credit cards now? ET Wealth Online explains.
Stock market update: Nifty Auto index advances 1.27%
The Nifty Auto index closed 1.27 per cent up at 22174.05.
HAL and Tata Steel among 10 stocks that saw highest number of shareholder addition
What are the compliance requirements for a demat account? MintGenie explains
Compliance requirements for demat accounts include documentation, KYC norms, transaction reporting, and regulatory disclosures to ensure investor interests, market integrity, and legal compliance in financial activities.
Gold, silver price on April 25: Yellow metal in tight range, hovering around Rs 71,000
Bullion also witnessed a drop in the past few trading sessions as easing tensions over a war between Iran and Israel sapped away safe-haven demand.
Sensex rises! But these stocks fell 5% or more in Thursday's session
In the Nifty pack, 40 stocks closed in the green, while 10 stocks ended in the red.
What is moratorium period in health insurance?
Moratorium period is also referred to as the look-back period in insurance. This is a safeguard clause built-in for the policyholders.
Paytm new UPI ids: Here's how to activate new ids on Paytm app after merchant migration
On April 17, One97 Communications Limited (OCL), which runs Paytm, started the customer migration to partner with payment service provider (PSP) banks Axis Bank, HDFC Bank, SBI and Yes Bank.
Private companies investing in employee benefits despite tight budgets, rising premiums: Report
Premiums on benefit plans are expected to increase by 11% this year because medical inflation does not make things easier, a report on 'The State of Employee Benefits 2024' launched by Plum, an insurtech platform, said.
CIBIL score: What are the consequences of having no credit history?
If a borrower has no credit score or history, banks may consider him/her as a higher risk borrower since they have no past data to evaluate their creditworthiness.
Building your FY 2025 portfolio? Here are 5 real estate investment options
Real estate in India remains a top investment choice in 2023, driven by economic growth and high asset allocation by Indian households. The article discusses diverse investment options like luxury rentals, second homes, ETFs, REITs, and fractional ownership.
Fading NRI dream: Will your foreign salary sustain the cost of living abroad?
HDFC BankEducatedover 2 Lakhs Citizens on Safe Digital Banking Practices PAN India in FY24
Udaipur :HDFC Bank as a part of digital banking awareness drive, conducteda series of secure banking workshops pan India. The Bank organized over 16,600 workshops sensitizing over 2,00,224citizenson safe digital banking practices. These workshops were aimed at educating schooland college students, law enforcement agencies, senior citizens, self-help groups,customers and employees.Through these interactive sessions, participants gained ... Read more
Can charitable trusts invest in mutual funds and stocks?
The law is unrestrictive, but lack of awareness and risk aversion makes the enforcement weak
Mutual Funds, Stock Market to Public Provident Fund: Top five investments that can make you rich
Top 5 investments that can make you rich: On National Financial Awareness Day, consider investments like stocks, and mutual funds, among others for solid returns
