How to select the best mutual fund?

Selecting mutual fund on the basis of clarity of purpose.

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BRICS bank to open India's regional office in GIFT City in Gujarat

Working in close coordination with the NDB Headquarters, the Indian Regional Office will focus on project origination including initial project preparation and technical assistance, pipeline development, project implementation and monitoring as well as regional portfolio management, the bank said in a press release.

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Yes Bank picks JC Flowers ARC as JV partner to offload distressed loans worth Rs 51,000 crore

Yes Bank invited bids for its distressed loans portfolio, amounting to ₹51,000 crore, soon after the Reserve Bank of India in March 2021 rejected its plan to set up an ARC as its subsidiary.

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HDFC Bank carves out rural banking as separate vertical

Earlier, rural banking was a part of the wider retail branch banking vertical, and the bank has appointed Anil Bhavnani, who has been working with it for 19 years, to head the newly-carved rural banking vertical, according to a statement.

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Bajaj Allianz Life Insurance declares bonus worth Rs 1,070 crore in FY22

The bonus declared by the company includes regular reversionary bonus of Rs 840 crore and terminal and cash bonus of Rs 230 crore.

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Remain watchful of recent geopolitical developments, RBI Governor to banks

He also asked the public and private banks to remain watchful of the recent geopolitical developments and emerging trends to lessen the potential effect on balance sheets and focus on the revival of economic activity in the country.

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SC orders constitution of special court for cheque bounce cases

The top court incorporated the suggestion of the amicus curiae that five districts in each of the above States, where cases under the NI Act are high, can be selected and one court in each such district be established.

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Axis Mutual Fund sacks its chief dealer Viresh Joshi who is facing probe for front-running

In front-running, an illegal market practice, a dealer, trader, or a mutual fund (MF) employee gets wind of a big order (for buying or selling shares) that will be placed by the fund or a big investor and gets 'in front' of the trade. Large orders usually have a bearing on the stock price.

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Rating agencies in a limbo over RBI’s new guidance on loans

Even for apparently more enforceable support such as corporate guarantees (as distinct from letter of comfort), RBI said such structures can be used to enhance rating only if there is a strict timeline on invocation of guarantee by lenders.

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Supreme Court rejects RCFL lenders’ early hearing plea

The lenders had filed a praecipe, a request for pre-emptive action. RCFL owes creditors led by Bank of Baroda more than Rs 9,000 crore.

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Missed ITR filing for FY 2020-21? You may be liable for higher TDS in current FY 2022-23

The Union Budget 2022 has amended the existing laws after which missing ITR for one year can lead to higher TDS/TCS in future financial years. The amended law is effective from April 1, 2022. The CBDT issued a circular on May 17, 2022, clarifying on whom higher TDS/TCS will be applicable in the current financial year (FY 2022-23). Read on to know if higher TDS/TCS will be applicable to you.

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Walmart buys way into India wealth management to take on Amazon

PhonePe will buy WealthDesk for about $50 million and OpenQ for nearly $25 million, two sources directly aware of the matter said on Tuesday, declining to be named as the specifics are private.

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RBI needs to work with states to decrease price impact on common man: Sanjiv Bajaj, chairman & MD, Bajaj Finserv

"The time is now for the central government to collaborate with states to cut taxes to decrease the price impact on common man & businesses and reduce inflation. In the medium term, we have to diversify our sources and streamline laws to make setting up renewable energy projects more attractive."

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