Finance News

AUM grows 41% YoY in Q1FY24 to at Rs 17,770 crore Its stock was trading 3.5 per cent up at Rs 371.25 a share on the BSE. Poonawalla Fincorp Ltd posted 41 per cent year-on-year growth in Assets Under Management (AUM) at Rs 17,770 crore as of June 30, 2023 (Q1Fy24). Sequentially, AUM grew by 10 per cent over ...

Private banks more aggressive in writing off bad loans than public banks The private sector banks in India have been more aggressive when it comes to writing-off bad loans as compared to the public sector banks, according to data from the Reserve Bank of India’s (RBI) financial stability report. The report highlighted that the ratio of write-offs to ...

can help you save tax, but is it worth it? High taxes is the last thing anyone wants on their financial statements, and when you make an investment, especially in equities, you would look for tax effiency. Since mutual funds are one of the most popular investment avenues in India today, here are useful hacks to be ensure tax ...

Home sales in NCR touch 10-yr high, flats upwards of Rs 1 cr most in demand Residential sales in Delhi-NCR touched a 10-year high in the first half of 2023 at 30,114 units, of which Gurugram accounted for more than half the units sold with a 52% share, according to a report by real estate consultancy firm Knight Frank ...

RBI rejects 3 ‘not suitable’ applications for setting small finance banks The Reserve Bank of India has rejected three applications, including the of West End Housing Finance, for setting up small finance banks. These applications were found not suitable for granting of in-principle approval to set up small finance banks, it said in a statement on Tuesday. ...

How HDFC-HDFC Bank merger will impact equity mutual funds The merger of Housing Development Finance Corp. Ltd. with its subsidiary HDFC Bank is likely to impact the management of mutual fund schemes—particularly in the actively managed equity large-cap category because market regulator Sebi mandates that all such schemes, apart from thematic and sectoral funds, restrict their holding in any one ...

Bank of India becomes first bank to offer Mahila Samman Savings Certificate Bank of India, one of the largest public sector banks (PSBs) in the country, has become the first bank to officially roll out Mahila Samman Savings Certificate (MSSC) scheme. The scheme was announced by Union Finance Minister Nirmala Sitharaman during her Budget speech this year. The ...

How to check if an individual’s PAN is valid or not Individuals and companies can verify the validity of a Permanent Account Number (PAN) online. To do this, they must fill out a form with the core details mentioned in the PAN card, such as the name, father’s name, and date of birth of the PAN holder. This facility ...

SBI Mutual Fund AUM crosses Rs 8 trillion; eyes Rs 10 trillion milestone SBI Mutual Fund, largest fund house by a wide margin in the 43-player industry, has clocked yet another milestone crossing the Rs 8 lakh crore-mark assets under management, adding Rs 90,000 crore to the asset pile during the first quarter of the fiscal. Given the ...

HSBC chases wealthy clients in India with private banking business launch HSBC said on Tuesday it would target business with India’s wealthy as it launched its global private banking business in the country. Europe’s largest bank said the new unit was aimed at ‘high-net-worth’ and ‘ultra-high-net-worth’ clients in India with investable assets of more than $2 million. ...