The capital markets regulator Securities and Exchange Board of India (Sebi) has imposed a penalty on Nirmala Devi (name changed) and her son Vijay (name changed) for front-running activities. The case pertains to the trading activities from July 1, 2021, to June 30, 2022. Who is Nirmala Devi and what does this issue entail? A … Read more
If you want to crunch some numbers, the total assets under management of the Indian mutual fund industry stood at ₹54,54,214 crore. Over 8.2 crore SIP accounts are being held by retail investors through which they invest regularly in various Indian mutual fund schemes offered by Asset Management Companies (29th February 2024). Also Read: Your … Read more
These unions emphasize member service and financial well-being, whereas banks focus on maximizing profits for shareholders. Credit unions often provide lower interest rates on loans, reduced fees, and a more customized banking experience. Credit unions can frequently be a compelling choice for personal loans for several reasons: Possibly lower interest rates: As non-profit organizations, credit … Read more
Holi, the festival of colours, is not just a time for fun and merry-making but also offers valuable financial lessons that can be applied in our everyday lives. As we celebrate Holi, let’s take a closer look at some of the financial lessons we can learn from this vibrant festival. Budgeting and planning ahead Just … Read more
CIBIL score is an important factor that banks consider when evaluating applications for business loans. While there is not a fixed threshold of CIBIL score requirement which is applicable universally to all banks, a higher CIBIL score usually raises the likelihood of loan approval and favourable terms. Here are the general rules: Excellent credit score (750 and … Read more
Dragon Warrior Po is the hero of the Valley of Peace, signing autographs and opening noodle shops for his two dads. The Furious Five Kung Fu masters – Master Tigress, Master Viper, Master Monkey, Master Mantis and Master Crane – are out on other assignments. Master Shifu has asked the Dragon Warrior Po to find … Read more
When a borrower co-signs a loan, it can have both positive and negative effects. This can have both positive and negative effects on your credit score, based on how the borrower manages the loan. For instance, 51-year Ajay Aggarwal decided to co-sign a loan for his son who wants to take a student loan. This may also … Read more
The Reserve Bank of India (RBI) is expected to cut the interest rates later this year, thus kicking off the rate cut cycle in the market. However, RBI in its Feb 2024 monetary policy meeting (MPC) kept the interest rates unchanged for the sixth time in a row. But this is expected to change as the banking … Read more
If you want to save income tax for the investments made in this financial year (2023-24), do not forget to invest before March 31 this year. With only a few days remaining in this financial year, taxpayers are urged to invest as soon as they can. Meanwhile, RBI has told all agency banks dealing with … Read more
How to choose tax-saving investments? Several critical factors to contemplate when selecting a tax-saving investment comprise: Lock-in duration: This denotes the minimum period you’re required to retain the investment before being able to withdraw funds. Certain tax-saving choices, such as the Public Provident Fund (PPF), entail lengthy lock-in periods, whereas others like tax-saving fixed deposits … Read more