According to Nitin Raheja, Director of AQF Advisors, RGESS is a good beginning for people because the kind of tax benefit that one is getting itself adds to your return on day one as such.
There are often questions in the mind of investors whether a mutual fund that they have chosen for the purpose of investment will get the benefit of Section 80C deduction.
The mutual fund industry has seen significant fall in redemptions in March. According to Nimesh Shah, MD and CEO, ICICI Prudential AMC, whenever the market corrects, MF redemptions decline, so this is just a one month phenomenon, it has nothing to do with fundamental change.
Market regulator Sebi is looking at how interest of RGESS investors can be safeguarded with regard to I-T relief even if fund houses return their money for failing to raise the targetted amount.
Former Finance Minister Pranab Mukherjee, now safely out of the finance ministry, blamed financial illiteracy for the Indian infatuation with gold.
The Sebi board met today in Delhi to take steps to broaden the debt markets and give a boost to the Rajiv Gandhi Equity Savings Scheme (GRESS), reports Nayantara Rai of CNBC-TV18.
Allowing MF houses to launch RGESS has given MF industry a good opportunity to attract long-term investors. However, it seems MF houses have still not learned lessons from their past mistakes. They still want to use the old trick of paying high commissions to distributors. Will it lead to mis-selling of RGESS? Read this space to know more.
Market regulator Sebi's board will meet tomorrow to take forward a number of proposals announced by Finance Minister P Chidambaram in his Budget speech for attracting more domestic and foreign investors to the capital markets.
The board of Sebi is scheduled to meet on March 8, 2013. In the meeting the board is likely to take a decision on issues including mutual funds regulations for products under the Rajiv Gandhi Equity Saving Scheme (RGESS) and steps to broaden and regulate the debt market, reports Nayantara Rai of CNBC-TV18.
In an interview to CNBC-TV18 personal finance expert, Sumeet Vaid of Freedom Financial Planners shared insights on Rajiv Gandhi Equity Savings Scheme or RGESS.
the Finance Minister has confined the fiscal deficit to 5.2 per cent in FY13 and as expected, this arithmetic achievement is in line with his topmost agenda of averting a country rating downgrade: IIFL
The four major macro concerns that have been weighing on the confidence of investors and rating agencies for the last several months are India's high fiscal and current account deficits and the dwindling savings and investment rates. And in my opinion, the Budget has effectively addressed all these issues.