Emerging markets

Till September 15, 2023, FPIs have withdrawn Rs 6,027 crore from the Indian equity markets, taking their net investment in 2023 in Indian stocks to Rs 1.31 trillion

investments, mutual funds

Fintech firm FinEzzy aims to disburse Rs 1,500 crore in loans against mutual funds over the next year.
This announcement comes as FinEzzy launches its mobile app, introducing a comprehensive personal finance platform, the company statement said.
Individual investors can now obtain loans against their mutual fund portfolio, eliminating the need to liquidate their holdings and providing a much-needed alternative to meet their financial requirements, it said.
This empowers users to negotiate and secure the most favourable loan terms, creating a transparent and competitive lending environment that puts the power back into the hands of individual investors, it said.
The company claimed that the entire loan process is designed to be seamless, fast, reliable and secure.
By embracing a fully digital approach, users can complete the loan application process in under 15 minutes, eliminating the hassles of paperwork, it said.
FinEzzy utilises one-time-password (OTP) based consents to secure

Private credit

Mutual funds' collection through new fund offerings (NFOs) remained subdued in 2022, with asset management companies (AMCs) garnering over Rs 62,000 crore through new schemes, which was 38 per cent less compared to 2021.
However, higher number of NFOs were launched in 2022 compared to the preceding year. A total of 228 new schemes were floated last year, which was way higher than 140 launched in 2021, according to the data compiled by Morningstar India.
In the year 2022, fund managers focused on passive funds and fixed income categories like fixed maturity plans. In fact, number of fixed income NFOs seem to have doubled in 2022 over the previous year.
According to the data, a total of 179 open-end funds and 49 closed-end funds were launched in the calendar year 2022, and cumulatively, these funds garnered Rs 62,187 crore.
In comparison, 140 NFOs were floated in 2021 and cumulatively, these funds were able to mobilise Rs 99,704 crore and 81 new schemes were launched in 2020 raking i

chart

Invest Rs 3,300 crore in maiden offerings, pull out from secondary market

Chandresh Nigam, MD & CEO, Axis Asset Management Company

'Equity fund selection depends upon an individual's risk profile. But if I were to choose one, it would be the flexicap'

Chart

Investors pulled out around Rs 6,580 crore from their SIP accounts in MF schemes for the pre-festive splurge

Nearly 40% NFOs filed since July are for these passive debt funds

graph

The tally was less than 41 million before Covid-19 pandemic

funds, mf, mutual funds, equity, outflow, inflow, investment, AIF, REIT

Shareholding of high networth individuals (HNIs) - those holding shares worth more than Rs 2 lakh in a company - also declined to 2.08 per cent as on June 30, from 2.21 per cent on March 31

stock markets

The mutual fund house said it does not foresee any major dip in Systematic Investment Plan (SIP) inflows going forward which had witnessed a steady growth to around Rs 11,000 crore per month

Sebi

AMCs have been asked to ensure that adequate systems are in place for providing the e-sign facility and they need to take all necessary steps to maintain confidentiality and safety of client records

mutual funds

SEBI allowed mutual funds to launch passively managed ELSS, though with a caveat that mutual funds can have either an actively-managed ELSS scheme or passively-managed one, but not in both categories

In the past year, large-cap funds on average have given returns of 26.45 per cent, while mid-cap and small-cap funds have given returns of 29.5 per cent and 40.4 per cent, respectively

Sebi's new norms for debt MFs may compel companies to park funds in banks

New norms may force 100 bps hike in rates for borrowers

Evaluate performance consistency and returns under different market conditions

Collection in H1 over 50% of BE of Rs 27,625 cr

Union Civil Aviation Minister Jyotiraditya Scindia and Railways Minister Ashwini Vaishnaw have been coordinating in recent months on these projects

PM Gatishakti: 3 upcoming airports on fast track to get rail connectivity

airport

India has told Canada that if any of these diplomats stay after October 10, their diplomatic immunity will be revoked

Justin Trudeau

The run-up in the markets in these last few months, analysts at HSBC said, has made investors nervous about the markets amid multiple headwinds

markets

What the data suggests, however, is that India's numbers are unsustainable. They're driven by debt-fueled household consumption and government investment

Rupee, Indian Rupee, Indian currency

Union Home Minister Amit Shah on Saturday said that Prime Minister Narendra Modi took the country forward on the path of progress in the last two months

Amit Shah

The Union government gave a nine-month extension in service "on contract basis" to CBDT Chairperson Nitin Gupta on Saturday, the day of his scheduled retirement.
Gupta (60), a 1986-batch Indian Revenue Service (IRS) officer of the Income-tax department, was appointed the Central Board of Direct Taxes (CBDT) head in June last year.
He was scheduled to retire on September 30.
The government order said the Appointments Committee of the Cabinet (ACC) has approved the re-appointment of Gupta as the CBDT Chairman on a contract basis, with effect from 1.10.2023 till 30.06.2024, or until further orders, whichever is earlier, in relaxation of the recruitment rules, on usual terms and conditions applicable to re-employed central government officers.
The CBDT is the apex policy-making body for the Income-tax department. It is headed by a chairman and can have six members who are in the rank of special secretary.

Nitin Gupta, Chairman, Central Board of Direct Taxes (CBDT)

Prime Minister Narendra Modi on Saturday said the Aspirational Districts Programme that brought change in 112 districts will form the basis of a programme to uplift aspirational blocks, adding that he will be back next year to review its success.
Addressing a programme here to launch the 'Sankalp Saptaah', linked to the implementation of the Aspirational Blocks Programme, the prime minister said the Aspirational Districts Programme has changed the lives of more than 25 crore people in 112 districts.
These aspirational districts have now become "inspirational districts", he said.
"Similarly, in the next one year, out of the 500 aspirational blocks, at least 100 will become inspirational blocks," the prime minister said as he urged officials of several ministries to pick 100 blocks that are lagging behind in their respective departments and bring them above the national average on various parameters.
"I am sure, in 2024, we will meet again in October-November ... and evaluate the ...

Prime Minister Narendra Modi, PM Modi

To encourage farmers to diversify from traditional paddy cultivation to commercially viable farming, the Bihar government has come out with several incentives and subsidies for planting aromatic and medicinal plants in the state.
The state agriculture department has come out with several incentives for farmers to promote cultivation of 'lemongrass', 'palmarosa', 'shatavari', 'tulsi', mulberry', 'khas', 'gooseberry', 'bael', 'tamarind', 'jackfruit', and lemon plants.
Bihar Agriculture Minister Kumar Sarvjeet told PTI on Saturday that, "The government is coming out with several incentives and subsidies to farmers to help cultivate aromatic and medicinal plants in the state. The growing health awareness has created a lot of opportunities for innovation in the agriculture sector and the government is helping farmers to exploit this opportunity. This is the time Bihar farmers must opt from traditional paddy cultivation to commercially viable farming".
This scheme will be implemented main

farmers, agriculture, farm

The US is on the brink of a federal government shutdown after hard-right Republicans in Congress rejected a longshot effort to keep offices open as they fight for steep spending cuts and strict border security measures that Democrats and the White House say are too extreme.
Come midnight Saturday with no deal in place, federal workers will face furloughs, more than 2 million active duty and reserve military troops will work without pay and programs and services that Americans rely on from coast to coast will begin to face shutdown disruptions.
The Senate will be in for a rare Saturday session to advance its own bipartisan package that is supported by Democrats and Republicans and would fund the government for the short-term, through Nov. 17.
But even if the Senate can rush to wrap up its work this weekend to pass the bill, which also includes money for Ukraine aid and U.S. disaster assistance, it won't prevent an almost certain shutdown amid the chaos in the House. On Friday, a ...

US Fed Reserve, Fed Reserve

The combined market valuation of five of the top 10 most valued firms declined by Rs 62,586.88 crore last week, with IT majors Tata Consultancy Services (TCS) and Infosys taking the biggest hit, amid an overall bearish trends in equities.
Last week, the BSE benchmark fell 180.74 points or 0.27 per cent, and the Nifty declined 35.95 points or 0.18 per cent.
The market valuation of TCS plunged Rs 26,308.58 crore to Rs 12,91,919.56 crore.
Infosys witnessed an erosion of Rs 25,296.43 crore from its valuation which was at Rs 5,95,597.10 crore.
The market valuation of Reliance Industries fell by Rs 5,108.05 crore to Rs 15,87,553.37 crore and that of Hindustan Unilever declined by Rs 3,865.08 crore to Rs 5,79,373.96 crore.
The market capitalisation (mcap) of HDFC Bank dipped Rs 2,008.74 crore to Rs 11,57,145.86 crore.
However, the mcap of Bajaj Finance jumped Rs 20,413.41 crore to Rs 4,73,186.41 crore.
Bharti Airtel added Rs 8,520.13 crore to Rs 5,19,279.14 crore in its valuation while

Even if generative artificial intelligence has been overhyped, it's safe to assume that ChatGPT-type bots will only get better at routine tasks like writing computer software

jobs, IT jobs, IT industry, AI

Half of India's population between the age of 30-55 years believes 59 years should be the age of retirement and thirty-two years is when one should ideally start retirement planning,

investment,saving, money, retirement, rupee

As the festival season approaches, followed by elections, state and national, there will be pressure on liquidity since cash with the public will rise

Banks credit growth

Bidhuri may be a small fry in the larger calculus of the party. Yet, in his blundering and uncultured way, he was voicing in Parliament what has already been normalised on the streets

Bidhuri

Experienced striker Vandana Katariya, vice-captain Deep Grace Ekka and Deepika slammed a hat-trick each as India stormed into the semifinals of the women's hockey competition at the Asian Games with a 13-0 drubbing of Hong Kong in their final pool match here on Tuesday.
Vandana (2nd, 16th, 48th minutes) scored three field goals, while Deep Grace (11th, 34th, 42nd) converted three penalty corners for India. Deepika (4th, 54th, 58th) was not to be left behind as she also emulated the feat of her senior teammates in India's rout of Hong Kong.
Sangita Kumari (27th, 55th), Monika (7th) and Navneet Kaur (58th) also registered their names on the scoresheet.
India are on top of Pool A with 10 points from four games and have much superior goal difference than second-placed side South Korea who have seven points with a match in hand. South Korea take on Malaysia in their final group league match later on Tuesday.
Two teams from each pool qualify for the semifinals.
It was a complete dominat

India women's hockey team

The Indian men's kabaddi team, who are a record seven-time champions, began their campaign with an emphatic 55-18 win over Bangladesh in a group fixture at the Asian Games here on Tuesday.
In their bid to regain the Asian Games gold medal, the Indians, who slipped to a bronze at the 2018 edition, took a 24-9 lead at the half-time.
Naveen Kumar Goyat and Arjun Deshwal spearheaded their raids in style to inflict the first all-out in the 12th minute.
Bangladesh managed to inflict two supertackles in the first half on Pawan Sehrawat and then on Goyat but that proved insufficient as India took 12-point lead inside 20 minutes.
Bangladesh faltered in their raids as the Indians extended their lead in the second-half and sealed the issue.
The women's kabaddi team, who were the last edition's silver medallist, endured a disappointing start after being held to an unexpected 34-34 draw by Chinese Taipei on Monday.
In the men's event India find themselves clubbed with Bangladesh, Chinese Taip

Asian Games India Kabaddi full schedule 2023

With Chromebook Plus, Google promises doubles down on the performance and introduces artificial intelligence capabilities

Google, Chromebook, Google chromebook plus, chrome book plus, chromebook laptops, chromebook plus laptop

Reigning world champion Ojas Deotale blazed his way to the final with a perfect score of 150, while veteran Abhishek Verma also shone bright to set up an all-Indian gold medal clash and assure the county of a top-two finish in the men's individual compound archery at the Asian Games, here on Tuesday.
Seasoned Jyothi Surekha Vennam also advanced into the women's individual final at the expense of world champion Aditi Swami, as the compound archers led India's charge at the continental showpiece.
India have thus confirmed three medals in archery, matching their best-ever feat of 2014 Asian Games in Incheon where they have won one gold, one silver and one bronze.
The Indian archers also remained in the hunt for a podium finish in seven more events across recurve and compound sections.
Fresh from winning the senior World Championship crown in Berlin two months back, Deotale was up against South Korean seventh-seed Yang Jaewon.
But the 21-year-old Indian did not give his rival any chan

Ojas Deotale reaches final fo the men's compound archery final at the Asian Games 2023. Photo: X

Ojas Deotale

World champion Lovlina Borgohain (75kg) locked an Olympic quota for herself by moving to the final while young Indian boxer Preeti Pawar (54kg) signed off with a bronze medal at the Asian Games here on Tuesday.
Borgohain, the Tokyo Olympic bronze medallist, cleverly managed her bout against Asian Championship silver medallist Baison Manikon of Thailand to take a unanimous decision win and book her ticket for next year's Paris Games
Preeti, on the other hand, put up a good show but lost 0-5 to reigning flyweight champion China's Chang Yuan. She has already secured an Olympic quota.
Both Southpaw boxers showcased their high skill and ring IQs in the opening three minutes. While Preeti looked to poke and peck with a right hook, the Chinese kept landing right hooks.
At one point, the 19-year-old Indian landed a double  jab, followed by two right hooks and two body shots to score crucial points. But Chang replied aggressively with a right cross and a flurry of jabs.
The Chinese boxer w

Lovlina Borgohain, who secured a bronze, in her semi-final bout against Busenaz Surmeneli of Turkey.

Mutul Fund

Foreign flows into Indian equities to take a breather, suggest analysts

FinEzzy aims to disburse Rs 1,500 cr in loans against mutual funds

Mutual funds' collection through NFO drops 38% to Rs 62,000 crore in 2022

Mutual funds pivot to IPOs in November amid record number of deals

Tax parity will give MFs a level playing field: Axis AMC's Chandresh Nigam

SIP account redemptions rise to 11-mth high as investors dip into savings

Fund houses set to launch a slew of target maturity funds in coming months

New milestone: Demat accounts surpass 100 million for the first time

Retail investors' holdings drop by Rs 1.67 trn to Rs 17.58 trn in Q1: Data

JM Financial mutual fund plans 4-5 NFOs, aims Rs 7k-10k crore AUM by FY23

Those subscribing MFs from Aug to get choice of providing nomination: Sebi

Allowing MFs to launch passive ELSS a welcome step: Motilal Oswal AMC

New SIP registrations surge 88% to 26.6 million in FY22, shows data

Impact of Sebi's norms for debt MFs: Companies may shift funds to banks

Your money: Expense can't be decisive factor