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Personal Finance India

4.82% in 5 years; does it make sense to invest in ELSS funds to save taxes?

Some taxpayers are questioning the wisdom behind investing in ELSS mutual funds to save taxes under Section 80C in this financial year.
Nippon India Mutual Fund launches multi-asset fund

Nippon Life India Asset Management Limited has announced the launch of Nippon India Multi-Asset Fund. The New Fund Offer (NFO) opens for subscription on August 7 and closes on August 21.
Why some analysts want you to avoid current series of sovereign gold bond?

Some analysts, however, advised investors to give it a miss and wait for the next series, which will be issued at the end of August, as they find the prices unfavourable at this point.
Four shut Franklin schemes hit by defaults

Four among the six shuttered debt schemes of Franklin Templeton Mutual fund saw a fall in their Net Asset Values or NAVs after two entities - Nufuture Digital (India) Ltd (NDIL) and Future Ideas Co Ltd (FICL) – defaulted on payments.
ICICI Bank cuts MCLR by 10 bps across tenors

Post the cut, EMIs on the loans linked to MCLR will come down giving relief to the borrowers. With the reduction in rates, ICICI Bank's one year MCLR is 7.45 per cent, and six month MCLR is 7.40 per cent.
ICICI, Yes Bank ask BharatPe to stop taking deposits in their names

The move comes amid heightened scrutiny by the Reserve Bank of India of the burgeoning digital payments ecosystem.
UPI transactions hit a new high of 149 crore in July with transaction value reaching Rs 2.91 lakh crore

During the April-July period of 2020-21, the cumulative transactions on UPI reached 631 crore. The value transacted stood at Rs 6.31 lakh crore.
At Rs 6 lakh crore, banks’ fresh fixed deposits in Q1 double from last year

An increase in FDs is an indication that investors expect interest rates to come down further. It is also reflective of risk-aversion. From the deposit numbers of the large banks that have declared their results so far, it is seen that the share of FDs is either rising or is steady.
Sebi may review curbs on MFs’ equity investments

Industry officials said many fund houses have recommended widening the scope for investments in large- and mid-cap shares, which would automatically shrink the small-cap space.
PMC Bank depositors seek views of RBI ex-Guv Urjit Patel, his deputy Viral Acharya

PMC depositors have sought the views of RBI ex-Guv Urjit Patel and his deputy Viral Acharya on several issues, including monetisation of the attached assets and merger with large private banks.