Indian banks’ NIM to contract in FY24 as deposit costs rises: Fitch Indian banks’ net interest margin (NIM) will be under pressure in the next financial year ending March 2024 (FY24) as they increase deposit rates to get funds for supporting high loan growth, said Fitch Ratings on Monday. The Indian banking sector’s average NIM– ...
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Mahila Samman Savings Certificate: Interest rate, investment limit, tenure
Mahila Samman Savings Certificate: Interest rate, investment limit, tenure [ad_1] Mahila Samman Savings Certificate: Interest rate, investment limit, tenure [ad_2]
Read More »IRDAI should set up a committee to review its regulations: Experts
IRDAI should set up a committee to review its regulations: Experts In line with Finance Minister Nirmala Sitharaman’s budget announcement, the Insurance Regulatory and Development Authority of India (IRDAI) should set a committee of its own to review its various regulations governing the sector, said industry experts. They also said the said committee ...
Read More »Budget 2023 impact: 100% rise in interest income from Senior Citizens Saving Scheme (SCSS), POMIS
Budget 2023 impact: 100% rise in interest income from Senior Citizens Saving Scheme (SCSS), POMIS [ad_1] After the rise in interest rates of small savings schemes early this year, another bonanza has been delivered for senior citizens by the Budget. The deposit limit in the Senior Citizens’ Saving Scheme (SCSS) and the Post Office Monthly Income Scheme (POMIS) has been ...
Read More »Rupee falls 42 paise to 82.50 to the dollar on back of domestic equities
Rupee falls 42 paise to 82.50 to the dollar on back of domestic equities The rupee depreciated 42 paise to 82.50 against the US dollar in early trade on Monday, weighed down by a strong American currency and a muted trend in domestic equities. Sustained foreign fund outflows and firm crude oil prices further dented ...
Read More »Parents should stop funding the expensive educational pursuits of entitled children
Parents should stop funding the expensive educational pursuits of entitled children [ad_1] About 20 years ago, when formal financial planning was just taking root in India, we did a household survey to find out about personal financial aspirations. Families were still not talking about financial goals per se. However, children and their future featured almost unanimously in every conversation. Twenty ...
Read More »Bond yields and rupee to closely track RBI’s monetary policy meet
Bond yields and rupee to closely track RBI’s monetary policy meet Indian government bond yields and the local currency will track the Reserve Bank of India’s monetary policy decision, due mid-week, for guidance, and any dovish tilt in tone could see the benchmark bond yield break below the crucial 7.25% level. The RBI is widely ...
Read More »What are passive debt mutual funds: 5 things to know
What are passive debt mutual funds: 5 things to know [ad_1] 1.Passive debt funds are fixed income mutual funds which track debt or money market index in terms of portfolio.2.They invest in highquality debt instruments.3.Passive liquid funds, passive gilt funds and target maturity schemes are three types of passive debt funds.4.Since the funds are passively managed, they are relatively low ...
Read More »Paytm, PhonePe to launch UPI Lite for smaller epayments soon: Report
Paytm, PhonePe to launch UPI Lite for smaller epayments soon: Report Paytm and PhonePe are likely to launch the Unified Payments Interface (UPI) Lite on their mobile applications soon, a report by the Economic Times (ET) said. On Paytm, the feature is expected to be enabled within a month. UPI Lite was introduced by ...
Read More »4 reasons Bajaj Finance is this week’s stock pick
4 reasons Bajaj Finance is this week’s stock pick [ad_1] Bajaj Finance (BAF), a diversified NBFC, reported a strong performance in the third quarter of 2022-23 with a 40% y-o-y jump in net profit. The reported net profit was 1.7% higher than the consensus estimates of analysts compiled by Thomson Reuters-Refinitv. The performance was driven by strong customer addition, robust ...
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