Money

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FOMC Meeting Rate Cut: All eyes on Federal Reserve chief Powell today

The day for the US Fed pivot has arrived as the world's largest central bank is set to cut rates for the first time in four years.

2024-09-18T06:30:46Z

'I get excited about 40 rupees coupons on Zomato': Edelweiss MF's Radhika Gupta on her spending habits

Radhika Gupta, CEO of Edelweiss Asset Management, is widely recognised as a leading figure in India's financial sector, overseeing assets worth over Rs 1 lakh crore. Despite her professional accomplishments and a personal net worth of approximately Rs 41 crore, Gupta has shared that her financial habits remain deeply influenced by her upbringing and middle-class values. In a recent podcast, Gupta spoke about her modest spending preferences,...

2024-09-18T06:43:02Z

Manba Finance sets IPO price band at ₹114-120; issue valued at ₹150 crore

Non-banking financial company (NBFC) Manba Finance Ltd. has set a price band of ₹114 to ₹120 per share for its upcoming initial public offering (IPO), which will be open for subscription between September 23 to 25. The anchor book will be opened for a day on September 20.Through the initial share sale, the company plans to raise ₹150 crore.The offer includes entirely a fresh issue of 1.25 crore equity shares with no offer-for-sale...

2024-09-18T09:02:16Z

Essential steps and considerations for individuals looking to embark on a career path in finance

For several reasons, the number of people showing intent toward job change in the financial sector has increased tremendously.E

2024-09-13T08:28:20Z

Foundation for a robust pensioned society

A pensioned society would allow the government to consider making changes to labour laws, where the absence of a social security network has held back reforms.

2024-09-18T23:44:00Z

Top 10 countries with the largest gold reserves in 2024—check India’s rank

With the Reserve Bank of India (RBI) adding gold every month in 2024, India has one of the largest gold reserves globally. Read on to find out where does it stand in the Top 10 list.

2024-09-18T11:46:35Z

EPFO doubles withdrawal limit to Rs 1 lakh for exigencies, govt working to hike salary ceiling for PF

Other change include relaxation of norms to allow a contributor to withdraw in the first six months of new job, says Union minister Mansukh Mandaviya.

2024-09-17T16:00:27Z

Sahara small depositors get some relief as govt raises refund limit to ₹50,000 from ₹10,000. Details here

So far, the government has released ₹370 crore to 4.29 lakh depositors of Sahara Group of Cooperative Societies through the CRCS-Sahara refund portal.

2024-09-18T15:21:08Z

Net direct tax collection grows 16% annually to ₹9.95 trillion up to 17 Sep

So far, individuals and businesses have paid ₹4.36 trillion in advance tax, showing a 23% jump from the year-ago period.

2024-09-18T17:58:49Z

​8 reliable income sources for achieving financial stability​

​Explore eight distinct paths to generate income, each offering unique opportunities to enhance your financial stability. Whether you seek passive revenue or active engagement, there's an option tailored for you.​

2024-09-11T00:32:29Z

2024-09-16T11:56:55Z

Paytm shares cross Rs 700 for the first time since January. More room to rise?

Before today, the last time Paytm traded above Rs 700 was in late January, closing at Rs 761.

2024-09-18T10:08:36Z

10 types of mutual funds which can double your wealth in 5 years

The returns from mutual fund schemes, particularly equity mutual funds, have been phenomenal. With the exception of International Equity schemes, the average returns from all other equity mutual fund category have been above 15% CAGR over the last five years.

2024-09-18T02:28:34Z

Cryptocurrency Price Today (September 18): Bitcoin Rises Above $60,000, Nervos Network Becomes Top Gainer

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to rise above the $60,000 mark early Wednesday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw a mix of minor gains and dips across the board as the overall Market Fear & Greed Index stood at 38 (Fear) out of 100, as per CoinMarketCap data. The Nervos Network (CKB) token emerged to be...

2024-09-18T05:42:42Z

Wall Street today: US stocks rise slightly ahead of expected rate cut by Fed

The Dow Jones gained 0.05%, the S&P 500 added 0.13%, the Nasdaq rose 0.20%

2024-09-18T14:11:00Z

5 charts that may affect the Fed interest rate decision

Inverted Yield Curve: The yield curve, which is the difference between the 10-year yield and 2-year yield, has been the most prominent indicator of a recession in the US. When the 2-year yield is higher than the 10-year yield, it shows that people want more payout from US Treasury Bills due to the risks of an economic slowdown in the near term. This phenomenon is called an 'inverted yield curve'. But in early September, the yield curve finally...

2024-09-18T02:02:25Z

Apple iPhone 16 vs iPhone 15: Which iPhone to buy and why

Apple's latest iPhone 16 features notable upgrades over the iPhone 15, including a powerful A18 chip, advanced AI capabilities, enhanced camera functions with macro photography support, and new buttons for added functionality. It also offers improved battery life and faster MagSafe charging. Despite these advancements, the iPhone 15 is still a strong option at a reduced price.

2024-09-11T14:14:04Z

NPS Annuity: Do Employees Get Back 40% of Their Investment?

Since the introduction of the New Pension Scheme (NPS) in 2004, replacing the old pension system (OPS), confusion and skepticism have persisted among employees. A common concern involves the 40% of retirement funds used to purchase an annuity under the NPS. Many employees mistakenly believe that this portion of their money is not returned, raising doubts about the scheme’s benefits.The NPS is structured with a clear pension system. Employees...

2024-08-29T15:23:00Z

Mankind Pharma to consider fund raise on September 24

Mankind Pharma said on September 18 that its board will convene next week to consider a proposal to raise funds through the issuance of securities. The board meeting is scheduled for September 24, where they will deliberate on raising capital through non-convertible debentures, commercial papers, or other forms of debt or equity securities. "The Board of Directors of the Company will be held on September 20, 2024, inter-alia to consider and...

2024-09-18T02:44:31Z

2024-09-18T16:00:04Z

India's productivity gains persist as the rupee looks to be undervalued, not overvalued

The stability of the rupee's exchange rate has led to a debate on whether it is overvalued or undervalued. While some measures suggest overvaluation, others indicate undervaluation. Adjustments for productivity growth and macroeconomic balance approaches imply the rupee may be undervalued by around 6%, easing concerns about its impact on the economy.

2024-09-18T17:54:02Z

UK Aug inflation at 2.2% as BoE considers rates

British inflation remained steady at 2.2% in August, matching July's rate. However, services sector inflation, closely monitored by the Bank of England, increased to 5.6%. The central bank had anticipated a slight rise in overall inflation and is set to announce its latest interest rate decision on Thursday.

2024-09-18T06:35:07Z

Bitcoin crosses $60,000 following US Fed rate cut

Bitcoin experienced a notable increase after the Federal Reserve lowered borrowing rates for the first time since the onset of the COVID-19 pandemic over four years ago. This move has helped cryptocurrencies gain mainstream traction.The US central bank reduced its benchmark interest rate by half a percentage point, with projections from the two-day meeting indicating that a slight majority—10 out of 19 officials—support lowering rates by at...

2024-09-18T19:41:03Z

Madhu Kela among top investors leading SpiceJet's Rs 3,000 crore QIP response

SpiceJet's QIP received strong investor response, with marquee investors like Madhu Kela's family office participating. The company aims to raise Rs 3,000 crore but has exceeded the target. Other notable investors include Akash Bhanshali, Sanjay Dangi, Rohit Kothari, Discovery Fund, Plutus, Jupiter Fund Management, Think Investments, Tata Mutual Fund, and Bandhan Bank.

2024-09-18T10:07:17Z

Swiggy IPO: Madhuri Dixit invests ₹1.5 crore, picks up stake ahead of market debut, says report

Madhuri Dixit and Innov8 founder Ritesh Malik have acquired shares worth ₹3 crore in Swiggy from the secondary market before its IPO.

2024-09-18T13:36:11Z

Financial services startup Kaleidofin raises $13.8 million funding from Rabo Partnerships, others

Kaleidofin has secured $13.8 million in equity funding led by Rabo Partnerships, with participation from existing investors. The funds will help expand its lending portfolio and enhance technology and risk services. Kaleidofin provides financial solutions to low-income customers and businesses in India's informal economy, facilitating over $2.7 billion in loans since 2020.

2024-09-18T09:23:43Z

Planning to retire in 10 years? Know how a Rs 23000 monthly investment can help you in your retirement

Retiring early within next 10 years is a challenging yet achievable goal. We tell you how to calculate the required retirement corpus based on current expenses, expected post-retirement life, and inflation. We also outline investment strategies, including SIPs and mutual funds, to accumulate the necessary funds for a secure early retirement.

2024-09-14T00:41:21Z

Gold Rates Today: Check Latest Gold Price In Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Jaipur, Lucknow, Patna And Other Cities

Gold Rates Today: The gold rates in different cities of India keep changing every morning, so checking it every day would help you in value buying. Gold is a precious metal and it is not only purchased as jewellery but it is an investment instrument as well. The prices of gold vary for categories of gold like 18 carats will have a lower price than 22-carat gold, and similarly, 22 22-carat gold will have a lower price than 24-carat gold. The...

2024-09-18T04:21:12Z

Wealth tech firm Centricity targets Rs 120-cr top line in FY25

Centricity will also expand its distribution network to 120 cities from 27 at present, hire 40-50 private bankers for its UHNI vertical and expand its tech team to 150 employees from 75.

2024-09-19T00:38:51Z

2024-09-18T22:30:12Z

ICICI Bank mcap hits Rs 9 lakh crore milestone for first time

Private lender ICICI Bank Ltd became the fourth Indian firm to cross market capitalisation of Rs 9 lakh crore for the first time on September 18 after its shares rallied over 30 percent so far in 2024. The stock hit a record high of Rs 1,295 on BSE on September 18, up 2 percent from previous close with mcap standing at Rs 9.1 lakh crore. Earlier, Reliance Industries Ltd, Tata Consultancy Services Ltd, HDFC Bank and Bharti Airtel have achieved...

2024-09-18T08:44:38Z

What Affects Your Business Loan Interest Rate? Check Key Factors Here

Funding is crucial for most businesses to thrive or maintain operations. One can get a loan through equity, debt, or other sources, with many organisations turning to business loans to meet their needs. To determine a business's loan eligibility, lenders evaluate various factors and set the interest rate. Here are some critical criteria lenders use to decide on the interest rate for business loans. Credit Score: Lenders, including banks and...

2024-09-14T06:56:01Z

Penny stock under ₹5: Financial stock jumps over 4% after new business adoption move

Penny stock under ₹5: Sunshine Capital share price has fallen over 7% in one week and more than 5% in the past one month. Sunshine Capital is a smallcap stock and commands a market capitalisation of ₹1,260.23 crore on the BSE.

2024-09-18T08:40:55Z

How can I plan for Rs 2 lakh monthly income after 15 years with 4 years of aggressive investing?

Building a corpus that provides a steady monthly income requires careful planning and realistic financial assumptions

2024-09-13T03:48:25Z

Mutual Funds: How to become a crorepati with the 15x15x15 investing rule?

The 15x15x15 formula, though catchy and easy to remember, has its flaws and limitations when it comes to SIP investing. Before embracing this seemingly attractive investment strategy, it's important to recognize its drawbacks and take a broader perspective on where to allocate your funds.

2024-06-05T05:56:01Z

Yen, emerging markets to see biggest impact of Fed cut in Asia

Investors are split on whether the Fed will kick off its easing campaign with a standard 25 basis point cut or a larger one. A half-point reduction may raise doubts about the health of the US economy, outweighing any enthusiasm about a stimulatory effect from the cut.

2024-09-18T02:37:08Z

Stocks Under 100: Suzlon Energy To NHPC, 5 Stocks Have Given Up To 200% Return In Last 1 Year

Stocks Under 100: The stock market has been bullish for the past 2-3 years, investors who have selected stocks wisely, are either consolidating a multi-fold profit or have already booked profit and planning reinvesting. People often buy stocks with lower prices - Stocks under Rs 50, Stocks under Rs 100. The lower cost allows investors to buy more stocks, which attracts them. The other thing that attracts investors is the return on investment,...

2024-09-18T06:06:14Z

Public Provident Fund: How much corpus can Rs 12,500 monthly investment in PPF make over 15 years?

PPF investors can avail tax deduction benefits of up to Rs 1.5 lakh. PPF investment falls under the EEE (Exempt-Exempt-Exempt) category, which means you can enjoy tax benefits on deposits, interest earned and maturity amount.

2024-09-12T04:26:21Z

Will US Fed Rate Cut Impact Investment And Gold Prices In India? All You Need To Know

As global investors closely monitor the results of the US Federal Reserve's two-day policy meeting, market analysts anticipate a period of increased volatility. Regardless of the decision, stock markets are likely to react strongly to any changes in US interest rates The Federal Reserve is anticipated to declare an interest rate cut for the first time in four years at 11:30 pm IST on Wednesday. The US plays a dominant role in global markets due...

2024-09-18T13:36:21Z

NPS Vatsalya Calculator: Rs 10k to Rs 11 crore corpus by 60? Modi govt scheme - How to open account

Modi Govt Scheme NPS Vatsalya Calculator: The savings-cum-pension scheme allows partial withdrawals for education, medical treatment, and more before the subscriber turns 18 years of age. It can be done after 3 years of joining NPS and the account holder can take out up to 25 per cent of contributed amount.

2024-09-18T11:30:41Z

Spot power prices tumble, as trade volumes rise

Prices also edged lower at a time when power generation decelerated 4.7% on year to 155 billion units (BU) in August 2024.

2024-09-18T18:53:50Z

Anil Ambani breathes sigh of relief as his company pays over ₹3300 crore debt

Reliance Infrastructure reduced its standalone external debt from ₹3,831 crore to ₹475 crore. The company's shares rose 7% to ₹252.15.

2024-09-18T06:30:46Z

2024-09-17T17:03:00Z

2024-09-17T12:00:33Z

Senior Citizen Savings Scheme: Eligibility Criteria, Interest Rates, And Tax Benefits Explained

Senior Citizen Savings Scheme: The Senior Citizen Savings Scheme (SCSS) is a government-backed savings initiative designed to provide financial security to senior citizens in India. Available through Post Offices and authorised banks, the SCSS offers regular income, tax benefits, and guaranteed returns, making it a popular option among retirees. SCSS offers a reliable savings option for senior citizens, providing a secure and steady income...

2024-09-18T10:42:48Z

10 simple hacks to boost your savings game

Tired of watching your hard-earned cash dwindle? Struggling to make ends meet on a tight budget? We've got you covered with 10 simple yet effective tips to help you save more and spend less. From tracking your expenses to cutting back on unnecessary costs, these strategies are designed to give your finances a much-needed boost. 1. Track Your Spending: The first step to saving money is understanding where it goes. Keep a detailed record of all...

2024-09-17T05:44:13Z

Review: Be Financially Smart by Nita Menezes

Though aimed primarily at women, this book, which explains complicated concepts in an organised manner, is a helpful resource for anyone trying to navigate the complex world of finance and money

2024-09-12T09:42:56Z

Oil prices steady, with investors focusing on Fed decision

Oil prices steadied on Wednesday after recent gains, as investors await the U.S. Federal Reserve's anticipated interest rate cut. Prices were supported by potential Middle East violence and U.S. supply disruptions post-Hurricane Francine. The market also expects U.S. oil purchases for the Strategic Petroleum Reserve.

2024-09-18T02:04:59Z

Sin tax: Harnessing a puff and a peg for wealth creation

As the financialisation of India’s savings continues on its path, particularly after demonetisation, the reality is that a large section of India’s population is still outside its ambit. An overwhelming majority hasn’t yet made its first mutual fund (MF) investment. Spending, on the other hand, has always been robust. India is plagued by poor saving habits and neglect of personal health. These problems are deeply intertwined with our desire for...

2024-09-17T04:14:09Z

10 Highest paying bachelor's degrees in India: Check average salaries

10 Highest paying bachelor's degrees in India: Check average salaries

2024-08-21T08:17:16Z