BUSINESS
SBI MF becomes first fund house to cross Rs 10 lakh crore in assets
In the last financial year, SBI Mutual Fund’s average assets under management (AAUM) grew to Rs 9.14 lakh crore from Rs 7.17 lakh crore, recording a growth of 27 percent.
BUSINESS
Sensex, Nifty crack: Young investors should brace up for volatility, focus on long-term goals
Equities will be volatile for now, and there is a risk of young and inexperienced investors, particularly those who entered the market post COVID-19, wilting due to the meltdown. However, it is best to stay calm, focus on long-term financial plan and asset allocation, say financial planners.
BUSINESS
Mother’s Day 2024: Top five tips on buying adequate health insurance
An adequate health insurance cover is a must for mothers, irrespective of whether they are working women or home-makers. Affordability permitting, they should look at an independent cover of at least Rs 10 lakh, even if they are covered under family floater policies.
BUSINESS
One-third of ‘insurance avoiders’ feel fit individuals do not need health covers: Navi Insurance survey
Nearly one-fourth (26 percent) of the respondents who neither have health insurance nor intend to buy a policy feel that only the elderly need such covers, a survey has found.
BUSINESS
Small savings schemes that offer tax benefits of up to Rs 1.5 lakh under section 80C
Public provident fund (PPF), Sukanya Samriddhi Account (SSA), National Savings Certificate (NSC) are among the popular instruments that offer deductions under section 80C.
BUSINESS
Quantum Mutual Fund votes against ICICI Bank and ICICI Securities merger
Quantum Long Term Equity Value Fund and Quantum ELSS Tax Saver Fund own shares in ICICI Bank and ICICI Securities. The fund house estimates that the merger will result in a net loss of at least Rs 6.08 crore to its unitholders.
BUSINESS
IRDAI likely to water down higher surrender value proposal in relief for life insurers
The move, though, is not in favour of life insurance policyholders, who were set to get higher surrender payouts on early exits if the insurance regulator’s December proposals were to be finalised.
PERSONAL-FINANCE
ICICI Prudential halts fresh subscriptions via lumpsum mode wef March 14
ICICI Prudential MF said it is temporarily suspending fresh subscriptions in the schemes because midcap and smallcap stocks have relatively outperformed the large-caps resulting into high valuations.
BUSINESS
HDFC Mutual Fund launches India's first domestic fund on realty sector
HDFC Nifty Realty Index Fund offers investors exposure to a diversified portfolio of real estate stocks through a single instrument, eliminating the need for individual stock selection
BUSINESS
International Women's Day: Only 26% women are decision-makers when it comes to buying health insurance, finds Future Generali study
International Women's Day: Compared to motor insurance, where over 50 percent women said they understood their policy benefits and clauses, only 32 percent were aware of their health insurance coverage details.
BUSINESS
AMFI writes to fund houses citing SEBI directive on froth in mid and small-caps
The missive has asked funds to ensure a policy is put in place to protect all investors, in light of the froth building up in the broader market and continuing flows to schemes that invest in this category shares.
BUSINESS
LIC launches Amritbaal, a traditional savings life insurance plan for children
The product is targeted at parents who wish to create a long-term corpus to meet the higher education needs of their children.
BUSINESS
Finance Minister assures stability in capital gains tax regime
Sitharaman was responding to a question on stability in the capital gains tax regime amid a rally in the Indian equities markets over the past three years, in a post-Budget interview with Network 18 with Editor-in-Chief Rahul Joshi.
BUSINESS
Network18 Exclusive: Can the salaried class be more hopeful about tax sops in July Budget? Here is what FM Sitharaman had to say
Direct tax reforms constitute ongoing activity, government is looking to improve ease of tax-payers facilitation, Finance Minister Nirmala Sitharaman said in an exclusive interview to Network18, while refusing to comment on whether salaried tax-payers could expect tax concessions in July 2024.
BUSINESS
Union Budget 2024 and the taxpayer: Higher basic exemption limits, more medical deductions needed
Budget 2024: An increase in basic exemption limit under both the regimes, allowing NPS, health insurance as well as home loan interest deduction under the new regime and permitting self-employed professionals to switch in and out of tax regimes every year top the wishlist for individuals.
BUSINESS
PPFAS Mutual Fund applies for dynamic asset allocation scheme with SEBI
Dynamic Asset Allocation or Balanced Advantage Fund is one of the most popular categories in the Rs 50 trillion Indian mutual fund industry with the category’s total assets under management at Rs 2.22 trillion.
BUSINESS
Twelve financial resolutions for a happy and prosperous 2024
The road to hell is paved with good intentions. The shadow falls between the idea and the execution. Etc. Hence, we’ve kept it really simple — just take care of one thing once a month. Deal?
BUSINESS
Kotak Life launches Ulip with higher protection cover, return of mortality charges
The product – T.U.L.I.P – offers life cover of up to 100 times the annual premium and also promises return of premium allocation charges at fixed intervals
BUSINESS
SEBI working with mutual funds to make Rs 250 SIPs viable: Madhabi Puri Buch
Buch’s statement has come at a time when Indian mutual fund industry’s total assets under management is nearing Rs 50 trillion landmark
BUSINESS
How to use Moneycontrol-SecureNow Health Insurance Ratings
Moneycontrol-SecureNow Health Insurance Ratings help you identify the best-rated health insurance products in the market according to price, products, features and claim settlement record
BUSINESS
Moneycontrol-SecureNow Health Insurance Ratings: Know the methodology
Moneycontrol-SecureNow Health Insurance Ratings is a new tool that helps readers choose the best health insurance policy, depending on their age, budget and requirements. It sifts through almost 1,000 health insurance policies to rate and rank them based on pricing, features, and the fine print
BUSINESS
Moneycontrol-SecureNow Health Insurance Ratings: How to pick the health insurance policy that really matters
A personal health insurance policy is a must in everyone’s portfolio because employer-provided cover is temporary – at its maximum, the policy is only valid till you retire or quit.
BUSINESS
AMFI asks mutual funds to display only 10-year CAGR return in advertisements
The directive comes after a SEBI observation that AMCs are advertising products with information about financial information, including returns, that could mislead the investors
BUSINESS
Invest in FDs through Moneycontrol and earn up to 8.5 % p.a.
Utkarsh Small Finance Bank offers the highest interest rates on FDs, at 8.5 percent p.a. for a two to three year tenure. Among NBFCs, Bajaj Finance offers interest rates of 8.35 percent p.a. for a tenure of three years and eight months. Senior citizens earn up to 0.25-0.6 percent more on deposits.
