Need to learn from others’ mistakes to succeed in investing: Vijay Kedia
Kedia says the more you fail in the market, the more you will learn. “That’s why failure is important in the equity market. It is important to stay on the pitch and play,” he says and admits that he too has a long list of failures in the stock market.
Investors moving away from liquid funds as returns dip
“As the unlock began, corporate investors got confident of cash flow requirements and this has led to a shift from liquid to other debt categories in line with their liquidity needs and risk appetite,” says Raghav Iyengar, chief business officer, Axis Mutual Fund.
Hearables hit the right chord, business booms
You may not have heard of it previously, but ‘hearables’ have emerged as the next big thing in the consumer tech industry, becoming more than a fad and fast turning out into a serious business category.
Petrol price crosses Rs 82-mark in Delhi, diesel above Rs 72 a litre
Petrol price on Saturday crossed Rs 82-mark in Delhi and diesel surpassed Rs 72 a litre after eighth increase in rates in past nine days.
Professional CEOs see avg pay rise by 7% to Rs 13cr
According to the ‘million-dollar CEO club’ study by EMA Partners, commissioned by TOI, the average salaries of professional CEOs rose 6.5% to Rs 13 crore in 2019-20 and that of their promoter counterparts declined by about 9% to Rs 21 crore. The study is based on BSE 200 companies and no stock options. CXOs earning a million dollars (Rs 7 cr*) too went 150 from 146 last year.
LVB to become DBS Bank India, cash withdrawal allowed from Friday
Following the approval, DBS Group Holdings — Singapore's biggest bank — will take over Lakshmi Vilas Bank in a deal pushed by the RBI. This also marks the first instance when India has turned to a foreign entity to bail out a struggling domestic bank.
ET Wealth Wisdom Ep 97: How to ensure your financial life is not disrupted when there is a crisis at your bank
Is it your cup of tea really to trade in currency derivatives?
The opportunities in forex trading are immense based on the round-the-clock trading window in various time zones across the world.
Following the likes of Buffett, Peter Lynch biggest mistake of my life: Shankar Sharma
Sharma said what these investing greats gave the investor fraternity was a personalised approach to investing, which is not a scalable way of looking at businesses or companies, because they exist in different geographies or markets.
HSBC considers exit from US retail banking: Report
HSBC Holdings Plc is considering a complete exit from retail banking in the United States after narrowing the options for how to improve performance at its struggling North America business, the Financial Times reported on Saturday. The bank's senior management aim to present the plan to the board in the coming weeks, the FT reported, citing people familiar with the situation. HSBC declined to comment on the report.
Over 40 lakh subscribers enrolled under APY so far this fiscal
With the new additions, the total enrolments under the APY have crossed 2.63 crore, said the Pension Fund Regulatory and Development Authority (PFRDA) in the release.
Should you take a home equity loan to fund your financial goals?
You must consider your ability to service the home equity loan you will be taking. You must not add more burden to your monthly obligations.
Petrol crosses Rs 82-mark, diesel above Rs 72/L
Petrol price on Saturday crossed Rs 82-mark in Delhi and diesel surpassed Rs 72 a litre after eighth increase in rates in past nine days. Petrol price on Saturday was hiked by 24 paise per litre and diesel by 27 paise as hopes of a vaccine development led to a rally in international oil prices.
30% returns in three months; should you invest in banking funds?
After offering negative returns in the one-year time frame, banking sector funds are are offering eye-popping 26% returns in three months on the back of signs of economic recovery and expectations of stronger growth.
Freelance earning in India back to pre-COVID-19 levels: Report
The freelance earnings in India increased in the ongoing quarter of this financial year and have returned to pre-COVID-19 levels, according to a report.
Mirae Asset Mutual Fund launches Banking & Financial Services Fund
Mirae Asset Investment Managers India announced the launch of the Mirae Asset Banking & Financial Services Fund on Thursday.
High court hints at LVB shareholder compensation
Shareholders of Lakshmi Vilas Bank (LVB) drew some consolation on Friday at the Madras high court. The HC refused to stay LVB’s merger with DSB Bank India (DBIL), but directed DBIL not to take any further actions prejudicial to LVB shareholders.
Nifty, Sensex near all-time highs: Five advisors on what mutual fund investors should do
The key stock market indices have scaled new high on the positive vibe from the efficacy of coronavirus vaccines and transitioning of Biden presidency in the USA. Then there was a sell-off. Mutual fund investors, especially equity investors, get very nervous every time the market touches or hovers around a historical peak.
Process of investing in the Senior Citizen Savings Scheme
A government scheme, the SCSS helps senior citizens accumulate funds in or for their retirement and earn quarterly interest payouts from the deposit. This account can be opened at any bank or post office, singly or jointly with your spouse.
Lower home loan interest rates to continue for the next 12 months, to push home sales, says HDFC's Keki Mistry
“For the next six to 12 months, the benign interest rates environment will continue. The growth in the economy and the real estate has been sharp. The factors like the RBI infusing much needed liquidity into the sector, various concessions given by the government and the developers like the stamp duty relaxations have extended the best buying opportunity for the homebuyers. The trend will continue with the lowest interest rates regime,” Mistry said.
What is the difference between UPI and digital wallets?
UPI transactions can take place between any two banks whereas digital wallets transactions occur between two accounts in the same digital wallet.
Long-term investor says this market is not in the safe zone
Shyamsunder Bhat, a market veteran, says for Dalal Street for achieve stability, both Covid vaccine and the availability of liquidity would be important.
Govt says recovery under way, warns of Covid surge
The economist listed out a host of factors for his “cautiously optimistic” outlook and said that the sustainability of the recovery process depended on the spread of Covid-19, and added that some sectors, particularly services, will remain impacted till the highly contagious infection does not go away and people observe social-distancing protocols.
9 mental models that can help boost your career
Like any tool, a mental model is neither correct nor effective all the time. However, having many mental models gives you multiple paths to a good result. Here are a few great models to understand and use to supercharge your career.
Mastercard introduces contactless payment on SBI Card App: Here's how it will work
With this service in place, SBI Card Mastercard cardholders need not carry physical cards and can transact at any contactless point of sale terminal using their mobile. So, the cardholders enjoy the benefit of paying up to Rs 2,000 with just a tap on their mobile and for payments above Rs 2,000 they will need to enter their Card PIN on the terminal
Muthoot Finance, Bajaj Allianz General Insurance tie up to provide insurance on gold jewellery
The policy provides insurance coverage of gold jewellery for individuals. This is designed to provide insurance coverage of gold jewellery articles for customers of the company at the time of closure of gold loan and release of gold ornaments. It will provide insurance coverage to the customers of Muthoot Finance as a loyalty product.
Air India plans to operate non-stop flights on Chennai-London route
Air India is currently operating non-stop flights to London from Delhi (seven flights a week), Mumbai (four flights a week), Kochi (three flights a week), Ahmedabad (two flights a week), Bengaluru (two flights a week), Goa (two flights a week), Kolkata (one flight a week) and Amritsar (one flight a week), an airline spokesperson told PTI.
EPFO extends deadline to submit life certificate by pensioners
Retirement fund body EPFO has extended the deadline for submission of life certificates by pensioners till February 28, a move which would benefit over 35 lakh persons who could not submit the document by November due to coronavirus pandemic. The pensioners who could not submit their life certificates till November 30 deadline, would get pension every month till February.
I-T dept raids in SEZ case unearths over Rs 450 cr
Bank operations may be hit by unions' strike on Thursday
Many lenders, including IDBI Bank and Bank of Maharashtra, in regulatory filings on Wednesday said their normal working could be affected at the branches and offices. The All India Bank Employees' Association (AIBEA), All India Bank Officers Association (AIBOA) and Bank Employees Federation of India (BEFI) are participating in the strike.
Retail investors can apply for new bond issues from Jan 1 through UPI
The new framework would be applicable to a public issue of debt securities which opens on or after January 1, 2021, the Securities and Exchange Board of India (Sebi) said in a circular.
How should I invest my retirment savings to receive monthly income of Rs 1 lakh?
Assuming you want to withdraw a fixed amount each month from your post-retirement corpus, a part of it has to be invested in low-risk fixed income instruments like ultra-short duration debt funds to ensure a steady income and capital protection.
Mutual funds to buy a Rs 70-lakh home in five years
If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
Income Tax refunds worth Rs 1.36 lakh crore issued to 41.25 lakh taxpayers till Nov 24
"CBDT issues refunds of over Rs 1,36,962 crore to more than 41.25 lakh taxpayers between 1st April, 2020 to 24th November,2020. Income tax refunds of Rs 36,028 crore have been issued in 39,28,067 cases & corporate tax refunds of Rs 1,00,934 crore have been issued in 1,96,880 cases," the I-T Department tweeted.
Asset base, subscribers under NPS rising: PFRDA
PFRDA Chairman Supratim Bandyopadhyay said that even during the pandemic, there has been a steady growth of subscribers and the contributions have been stable.
How gold, silver performed during the week ending November 19, 2020
Here’s a weekly tracker of returns from gold, silver, crude oil and wine. But don’t compare these with returns from traditional investments such as fixed deposits etc. since the proportion and purpose of alternative investments is vastly different.
Sebi chief launches SMARTS program to enhance investor education and awareness
The Sebi chairman also raised the concern relating to convoluted distribution of active investors throughout the country and said that SMARTs program would aim to address this concern by increasing investor outreach in far flung areas.
SIPs worst possible thing to sell to an investor, says Ajay Srivastava
The regulatory setup needs to change to incentivise distributors to advise customers and make investment event based. SIP should be used only if you really have nothing to do with life and you do not like your money very much!
Eco contraction slows as vaccines boost recovery hopes
The contraction of the Indian economy eased off in the three months to September amid signs of a pick up in manufacturing, and economists expect a steady recovery next year if progress on coronavirus vaccines feeds consumer demand.
FDI inflows up 15% in H1, Mauritius slips to 4th place
Foreign direct inflows went up almost 15% during the first half the current financial year. The period also saw Mauritius slip to the fourth spot as the preferred source to route funds into India with the US and tax haven Cayman Islands overtaking it.
How to transfer equity shares online using CDSL’s 'Easiest' facility
Transfer using Easiest services can be done only if the account of the transferee is a ‘Trusted’ account. The investor can add the trusted account details with 16 digit BO Id. The trusted account is activated within 24 working hours.
Govt bans manufacturing & sale of non-BIS helmets
From June 1, no non-BIS two-wheeler helmet can be manufactured or sold in the country and any violation of this would be treated as an offence. The road transport ministry on Thursday notified the quality control order for two-wheeler helmets to ensure that only safe headgears, which are also termed as “helmet vaccine for head injuries”, are made and sold in India.
When choosing a health insurance plan, get answers to these two questions
If you are considering buying a health insurance policy to cover the medical expenses of your loved ones and yourself, one option that you have is a family floater plan. Will this suffice? What should guide your decision? Read to know about the two key decisions that you need to take and how.
Illegal coal trade: CBI raids 45 places in four states
The CBI on Saturday started a massive search operation at 45 locations across four states after registering a case against an alleged coal pilferer who acted in collusion with two general managers and three security personnel of the Eastern Coalfields Ltd (ECL), officials said.
Mumbai buys most health covers in FY21
Mumbai now is our fastest growing metro in retail health insurance sales. Its growth is far higher than last year’s increase. We have seen enquiries triple and yes, a spike in Covid cases has in places mirrored the higher insurance sales,” ICICI Lombard chief underwriting officer Sanjay Datta said.
Wife is legally entitled to know husband's salary details
As per law, the husband is required to provide food, clothing, shelter, basic amenities and medical treatment of the wife and children.
Credit card requests cross pre-Covid levels in October
According to RBI data, there were 5.9 crore credit cards outstanding as of September 2020, up from 5.8 crore in March. In April, the number of outstanding credit cards had dipped to 5.7 crore as they were not getting replaced because of the lockdown.
How to check SBI savings account balance
If you have a savings account with the State Bank of India (SBI), here are six ways to check your account balance. Remember, SBI has done away with the requirement of maintaining minimum balance in its savings accounts.
Five mutual funds that make the most of bull runs, cushion downside
These funds enable investors to do away with timing the markets as this strategy has built-in profit booking at higher equity valuations. We take a look at five dynamic asset allocation funds, based on recommendations by financial advisors:
Beware, your railway ticket could be a colour printout fake
A CR official said passengers booking tickets through agents are unaware of the fraud and blame railway authorities when they don’t find their names on charts.
Insurance premium paid between Oct 12-Mar 31 period eligible for reimbursement under LTC scheme
However, payment of premium for existing insurance policies would not be covered under the LTC cash voucher scheme. "Payment of premium for insurance policies purchased during the period between October 12, 2020, and March 31, 2021, is eligible for reimbursement under the scheme," the Finance Ministry said.
Top 25,000 GST payers of October yet to file returns in November
India Post consumers sweat due to lack of online svcs amid Covid outbreak
A bulk of these schemes need the customer to visit crowded post offices to carry out transactions, since only limited operations can be done online. While banks have issued ATM cards to most of their customers, just 10-15% of India Post’s savings account holders have an ATM card.
Need a home loan during retirement? Here are 5 tips to be a good bet for lenders
Review your credit score before submitting the home loan application. But that's not the end, there are more measures you can take if you are a retiree looking to avail a home loan after retirement, to increase chances of bagging the loan.
Motilal Oswal MF launches 5 Year G-sec ETF
The Motilal Oswal 5 year G-Sec ETF seeks investment return that closely corresponds (before fees and expenses) to total returns of the securities as represented by the ‘Nifty 5 Yr. Benchmark G-Sec Index’, subject to tracking error.
PNB customers complain TDS deduction on every cash withdrawal
The incidents happened at the erstwhile United Bank of India branches "The bizarre development came to my notice last night," said Abhijit Sen, a resident of Salt Lake who withdrew Rs 30,000 from a branch in his locality on Monday morning. He got a message later in the day saying the bank deducted Rs 6,000 as TDS.
How to put your money matters in order if dementia strikes
Dementia causes a progressive loss of memory and cognitive function which, over time, diminishes ‘legal capacity’ to undertake any financial and legal actions. Therefore, here are the steps that a dementia patient should undertake in the early years to avoid future disputes.
D-Street veteran Ramesh Damani shares his magic formula for stock picking
“Time spent with high quality businesses is more important than timing the market,” Damani said, adding that India is aspiring to become the third largest economy from a Third World country.
'Rising FDI indicates investors' preference for India'
Increase in foreign direct investment (FDI) into India in July-September 2020 to $28.1 billion indicates global investors' preference for the country's enabling environment, commerce and industry minister Piyush Goyal said on Saturday.
Air India waives rescheduling, no-show charges amid farmers' protest
"In view of traffic disruption in NCR region due to closure of Delhi borders, we are allowing no-show waiver & one free reschedule to passengers who couldn't report for their flights," the national carrier said in a tweet on Thursday.
How to ensure your retirement plan is self sufficient
Dependence on your kids for old age is not a good plan nor is guilt tripping them should they be unable to provide for you. What you can, however, do is use your personal finances to create an alternate support model that is your own.
'Extreme heat poses $250bn risk to India’s GDP'
A deadly heat wave could burn the economy. In just another decade, India would be among the first places where extreme heat would make working outdoors dangerous, says a report released by global management consulting firm McKinsey.
Lakshmi Vilas Bank: Has ease of credit availability in our system encouraged fraud?
Clean and sensible prudential banking norms are the only way to create good institutions. We have stellar examples that stand up to this basic truth. Until we can make that the norm we need rules, supervision, monitoring, disclosure, penalties, and a whole hoard of timely actions we don’t have a great history of taking. Which is why the quiet merger of LVB feels right.
Jeff Bezos, Mukesh Ambani gun for retail supremacy
Jeff Bezos and Mukesh Ambani, two of the world’s richest men, face a turning point in a battle for pre-eminence in India’s booming, nearly trillion-dollar retail market. The outcome of a legal dispute which has embroiled the billionaires’ Amazon.com and Reliance Industries Ltd empires - where a court ruling is imminent - may shape India’s retail landscape for years to come.
RBI likely to maintain status quo on inflation concerns
The six-member Monetary Policy Committee (MPC) headed by RBI Governor is scheduled to meet for two days starting December 2. The resolution of the sixth bi-monthly MPC meeting would be announced on December 4.
Union AMC launches Union Hybrid Equity Fund
he New Fund Offer (NFO) of the scheme opens on November 27 and closes for subscriptions on December 11, 2020.
Ramdev on board of Ruchi Soya; Ram Bharat to be MD
Yoga guru Ramdev, his younger brother Ram Bharat and close aide Acharya Balkrishna will be on the board of soya food brand Nutrela-maker Ruchi Soya that was recently acquired by Patanjali Ayurved.
I have two PPF accounts. What is the maximum tax benefit I can claim on both accounts?
The ceiling for deposits to individual self account and minor account(s) to whom one is guardian, is currently capped at Rs 1.5 lakh in a financial year. Any transaction over and above this amount should ideally be rejected by the bank.
PM Modi visits Zydus Biotech Park in Ahmedabad
Prime Minister Narendra Modi on Saturday began his three-city visit to review coronavirus vaccine development work by going to pharma major Zydus Cadila's manufacturing facility near Ahmedabad.
$271 bn consumer spending to shift from cash to cards, digital payments by 2023 in India: Accenture
The report forecasted that nearly 420 billion transactions worth USD 7 trillion, globally are expected to shift from cash to cards and digital payments by 2023 - and increase to USD 48 trillion by 2030. "In India, 66.6 billion transactions worth USD 270.7 billion are expected to shift from cash to cards and digital payments by 2023 - and increase to USD 856.6 billion by 2030," it said.