Not only will this amount to significant savings when buying foreign currencies for overseas travel, it will also make spending towards fees or investments abroad a much smoother process. That said, the money parked in Gift City foreign currency accounts can only be used for purposes permitted in the Liberalised Remittance Scheme. LRS allows resident … Read more
Students planning to go abroad for higher studies tend to apply for a forex prepaid card with foreign currencies loaded into it. Almost all major banks in India offer forex prepaid cards. One such card, Student Sapphiro Forex Prepaid Card, was launched by ICICI Bank recently. Meant for students who are planning to study abroad, … Read more
Personal Loan Rates: Over the past few months several private lenders such as ICICI Bank, Kotak Mahindra Bank, HDFC Bank, and Axis Bank had increased interest rates on personal loans (PLs) after the Reserve Bank of India (RBI) had deemed them as riskier in November 2023, said a report by the Economic Times. Citing data … Read more
The stock hit its record high of ₹1,199.35 and its market cap crossed $100 billion in intra-day deals today. The stock has now risen over 33 percent from its 52-week low of ₹898.85, hit on October 26, 2023. “While we estimate margins to remain range-bound in the near term, the operating leverage is emerging as … Read more
Last week, during the holiday-shortened period, the combined market capitalization of three of the top-10 most valued firms surged by ₹1,06,125.98 crore. HDFC Bank and ICICI Bank emerged as the largest gainers. The BSE benchmark Sensex rose by 217.13 points or 0.28 per cent over the week. Among the top-10 firms, HDFC Bank, ICICI Bank, … Read more
If you want to double your money in the next 7 to 10 few years, your first choice, arguably, would be to invest into equity. Conservative investors, meanwhile, tend to opt for fixed income instruments such as fixed deposits (FDs) partly for wealth creation and partly for keeping their money safe & secure. Those who … Read more
That year, Reliance Mutual Fund (MF) embarked on an organizational restructuring— a journey that ultimately ended with the Japanese insurer Nippon Life Insurance buying out Reliance’s stake in the asset management company (AMC). It was also in 2003 that Sundeep Sikka joined Reliance MF, now known as Nippon India MF, in a senior leadership role. … Read more
ICICI Bank’s shares hit a new 52-week high of ₹1145.35 apiece on Monday, rising by more than 3%, after its March quarter (Q4FY24) did not bring any negative surprises. India’s second-largest private lender’s results met analysts’ expectations, reporting an increase in its loan book and net profit. ICICI Bank managed to keep a tight lid … Read more
If you are planning to buy a house and looking for a home loan for the same, you would ideally be looking not only for a bank that can give you money as early as possible but also the one that charges a low rate of interest. After all, the marginal difference in the interest … Read more
Nifty 50 will have scaled up to the 25,810 mark by December 2024, highlighted domestic brokerage Prabhudas Lilladher in its most recent India Strategy Report, Democratic Hat-trick to Re-Rate Markets. The ongoing rule of the National Democratic Alliance (NDA) government and the La Nina-led regular monsoons, which are predicted to bring policy stability and accelerate … Read more