Amway, ED and India’s direct-selling sector
Amway, an American company that popularised direct sales at a mass level in India, has got into criminal cases related to money-laundering and running pyramid or money-circulation schemes. The Enforcement Directorate has alleged it of promoting a pyramid scheme, ET has reported. The ED has alleged that the company “was running a multi-marketing scheme and money-circulation scheme to collect money from subscribers”. Key Points
Economic Timesdirect tax collections up 16 pc at Rs 6.53 lakh crore so far in 2023-24
New Delhi [India], August 11 (ANI): direct tax collections so far in 2023-24 have seen steady growth with total mop-up at Rs 6.53 lakh crore, a 15.73 per cent increase over the amount received in the same period last financial year. direct Tax collection, net of refunds, stands at Rs. 5.84 lakh crore, which is […] Key Points
ThePrintSurf Air Mobility shares slump 75% in NYSE debut
Electric aviation and regional air travel company Surf Air Mobility (SRFM.N) shares slumped 75% below their reference price in a direct listing on Thursday. Key Points
ReutersNifty may hit 21,000 in 6-9 months; rally likely to be non-linear with 5-7% intermediate corrections, says ICICI Direct
The Nifty50 index could reach 21,000 in the next 6-9 months, but expect the rally to be non-linear with intermittent corrections of 5-7%, says ICICI Direct. It also believes that Indian equities will outperform developed and emerging market equities in the coming years. Key Points
mintNet direct tax collection rises 16% to Rs 4.75 lakh cr so far this fiscal
The government has projected a growth of 9.6% for direct taxes in FY24. The direct tax collection so far are in line with other data that point to sustained recovery despite global headwinds. Key Points
Economic Times
Top 5 liquid funds for investors in frequent need for cash
Investors who need liquidity can consider parking their funds in liquid funds, which primarily invest in money market instruments and debt securities. For short-term investments or liquidity management, opportunities exist in arbitrage funds, ultra short-term funds with a horizon of at least six months, liquid funds with a horizon of one to three months, and overnight funds with a view of less than one month. Key Points
Economic TimesThese 5 debt MFs have given investors better returns than FDs
Specified mutual funds have been defined to include funds where not more than 35% of proceeds is invested in shares of domestic companies. This may include debt mutual funds and gold ETFs, where investment in domestic companies is less than 35% of proceeds of the fund. Key Points
Economic TimesIndian companies can go for overseas listing: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman on Friday said domestic companies could now go in for direct listing on foreign exchanges and the International Financial Services Centre (IFSC) in Ahmedabad. direct listing will allow Indian companies to access foreign funds on various exchanges overseas. Key Points
The Tribune India300,000 students got accepted to college before applying, via this ap
More than 300,000 students have been accepted into colleges even before completing their application because of this app. Get to know more below. Key Points
Hindustan TimesNirmala Sitharaman says Indian firms will soon be allowed to directly list their shares oveseas
Finance Minister Nirmala Sitharaman on Friday said that Indian companies can now go in for direct listing on foreign exchanges and the International Financial Services Centre (IFSC) in Ahmedabad. The provisions for direct overseas listing were approved by the government, as part of the Covid relief package announced in May 2020, but the rules in this regard are yet to be notified, reported PTI. Key Points
Economic Times
At Rs 14.70 lakh cr, direct tax kitty up 19%
The net direct tax collection so far this fiscal rose 19.41% to Rs 14.70 lakh crore, reaching about 81% of the full-year target, the Income Tax Department... Key Points
The Tribune IndiaX to get rid of ability to block accounts: Elon Musk
Twitter, now called X, will remove the ability to block accounts, according to owner Elon Musk. Blocking will still be possible for direct messages. Key Points
Hindustan TimesNifty headed towards 18,500 in May. Should you buy on dips now?
ICICI direct expects the ongoing rally in the Indian market, which has managed to hold the March low of 16,800, to move gradually towards 18,300-18500 by May with strong support at 17,200. The buy-on-dips approach with focus on midcaps is recommended for investors. Although the indices are stable, Sensex and Nifty are trading in red on a year-to-date basis, down 0.5% and 1.2%, respectively. Key risks to the expected rally in the coming months are global events leading to volatility. The top picks of the brokerage for May are HDFC Bank, IndusInd Bank, BEL, NHPC, Coal India, ITC and Asian Paints. Key Points
Economic TimesIndia's net direct tax collections up 16.8% to Rs 13.73 lakh crore till March 10
Provisional figures of direct Tax collections up to 10th March continue to register steady growth. direct Tax collections up to 10th March show that gross collections are at Rs 16.68 lakh cr, 22.58% higher than gross collections for corresponding period of last year, ANI quoted CBDT as stating. Key Points
Economic TimesIndia's net direct tax collection rises by 20.25% to ₹15.60 lakh crore till 10 Feb: CBDT
India's direct Tax collections up to 10th February, 2024 show gross collections at ₹18.38 lakh crore, 17.30% higher than last year's collections. Key Points
mint
These 5 flexi-cap mutual funds have given investors inflation-beating returns
Flexi-cap mutual funds invest in companies with different market capitalizations and are suitable for aggressive investors. Here are five funds with inflation-beating returns over 3-5 years: HDFC Retirement Savings Fund Equity Plan Direct-Growth Fund, HDFC Focused 30 Fund direct Plan-Growth Fund, ICICI Prudential India Equity FOF direct - Growth Fund, PGIM India Flexi Cap Fund Direct-Growth Fund, and 360 ONE Focused Equity Fund Direct-Growth Fund. They have different NAV, returns, AUM, expense ratios, and minimum investments. Key Points
Economic Timesdirect tax collection grows 20 pc to Rs 18.90 lakh cr till Mar 17
New Delhi, Mar 19 (PTI) The net direct tax collection grew 19.88 per cent to over Rs 18.90 lakh crore till March 17, the income tax department said on Tuesday. The net direct tax collection of Rs 18,90,259 crore(as of March 17) includes Corporation Tax (CIT) at Rs 9,14,469 crore (net of refund) and Personal […] Key Points
ThePrintNet direct tax mop-up grows 16% to Rs 4.75 lakh crore so far this fiscal
The Income Tax department in a statement said the collection has touched 26.05 per cent of the total budget estimates of direct taxes for full 2023-24 fiscal of Rs 18.23 lakh crore. Key Points
Business TodayIndia's net direct tax collection grows 20% to over Rs 18.90 lakh crore till March 17
India's direct tax collection surged by 19.88%, reaching over Rs 18.90 lakh crore by March 17, as per government data released on Tuesday. The Income Tax Department specified that the total net direct tax collection stood at Rs 18,90,259 crore, comprising Corporation Tax (CIT) at Rs 9,14,469 crore (net of refund) and Personal Income Tax (PIT) along with Securities Transaction Tax (STT) at Rs 9,72,224 crore (net of refund). Key Points
Economic TimesRBI Retail Direct: NACH facility now available for investing in government bonds, T-bills; how it is bette
Reserve Bank of India has enabled payments through National Automated Clearing House (NACH) in the Retail direct Website. Now an investor can place bids for various government bonds, treasury bills, state development loans and sovereign gold bonds (SGBs) using NACH facility on RBI Retail direct Website. Read below to know how does it work. Key Points
Economic Times
Equity mutual funds or stocks: What is right for you? MintGenie explains
Equity mutual funds are exceptional investment options for retail investors. While direct stock investors enjoy greater flexibility without certain investment constraints. The choice depends on individual preferences and risk tolerance. Key Points
mintBlack Sea drones show US involvement in conflict against Russia, says Kremlin
Last week, a U.S. drone crashed into the sea after being intercepted by Russian Su-27 fighter planes in the first known direct military encounter between the two sides since Russia launched its war in Ukraine last year. Key Points
Economic Times8 kg LG washing machine: Looking for one? Here are top 7 options to consider
If your family is a small to medium-sized one, then bringing home an 8 kg washing machine is a great idea. A good brand to consider is LG. Key Points
Hindustan TimesGovt to exceed Rs 18.23 lakh crore full-year direct tax collection target, says CBDT Chairman
CBDT Chairman Nitin Gupta announced that the Indian government is set to exceed the Rs 18.23 lakh crore direct tax collection target for the current fiscal year. He cited the robust performance of the economy and indicated that a clearer picture of full-year tax collection would emerge after the third instalment of advance tax numbers is available by December 15. Key Points
Economic TimesITR filing doubles to 77.8 million in 10 years
The number of income-tax payers in India rose to 93.7 million in FY23 from 52.6 million in FY14. The tax deducted at source (TDS) emerged as the largest component of direct taxes, reaching ₹8.17 lakh crore in FY23, almost double the amount in FY18. In the last 10 years, net direct tax collections increased by 160.52% to ₹16.63 lakh crore in FY23 from ₹6.38 lakh crore in FY14. Key Points
Economic Times
X rolls out audio and video calling feature: A guide on how to use it
Elon Musk's X (formerly Twitter) introduces Audio and Video calling exclusively for X Premium (Twitter Blue) users on iOS, with plans to extend to Android. Free users can receive calls with customizable settings, requiring prior direct Messaging interaction for calls. Key Points
mintREET Result 2022: RSMSSB Teacher final candidates lists out, links here
REET Result 2022: L1 and L2 selected candidates list out for various subjects. Check results below. Key Points
Hindustan TimesIs the bottom of the pyramid also a big opportunity? 4 small finance banks with upside scope of up to 41%
While it's commonly thought that auto and FMCG companies are prime indicators of the rural economy's health due to their direct consumer engagement, small finance banks (SFBs) may actually provide a clearer picture of the rural and semi-urban economic landscape. This clarity comes from their operational focus on these less urbanized areas and their direct involvement in lending to local businesses. Despite facing various challenges, SFBs have seen growth, driven largely by the unmet demand for capital at reasonable interest rates in rural areas. They offer credit to the bottom of the pyramid, at more favorable rates compared to traditional options which were available till a few years back, filling a critical gap. Key Points
Economic TimesIndiGo announces six new domestic routes; Check details here
IndiGo recently revealed its upcoming domestic flight expansions, starting March 31, 2024. These include direct routes like Ahmedabad-Rajkot, Ahmedabad-Aurangabad, Bhopal-Lucknow, and Indore-Varanasi. Additionally, they announced Kolkata-Srinagar and Kolkata-Jammu flights starting April 10 and April 21, 2024, respectively. Key Points
Economic TimesCourts cannot direct govt to notify law passed by Parliament, says SC
The Supreme Court of India has dismissed a Public Interest Litigation (PIL) seeking the implementation of certain provisions of the Insolvency and Bankruptcy Code. The court stated that it is the government's responsibility to notify laws passed by Parliament and that it cannot direct the government in this matter. Key Points
Economic Times
Net direct tax collection rises 19% till Jan 11, reaches 81% of FY24 target
India's net direct tax collection has witnessed a significant rise of 19% to reach Rs 14.70 lakh crore as per the latest official government data released on Thursday. Moreover, the data further highlights that the tax collection has already reached 81% of the full-year target. Key Points
Economic TimesEvery living ex US president, except Trump, direct descendants of slaveholders
A recent investigation has revealed that a significant number of members from the previous sitting Congress in the United States, more than 100 individuals, have direct lineage to ancestors who enslaved Black people. This comprises around 8 per cent of Democrats in Congress and 28 per cent of Republicans. Key Points
India TodayMoving beyond exams: Indian education system needs to focus on innovation
The key to future success is innovation, critical thinking, experimentation and the willingness to fail and learn from failings. These stand in direct opposition to the examination track and field as things mostly stand now in the Indian education arena. Along with celebrating those who score the most, India must devise an education system that can reward understanding and the ability to translate that understanding into knowledge. Key Points
The Economic TimesBhubaneswar to get first international flight, IndiGo to start services to Dubai on May 15
IndiGo will operate the service thrice a week -- Monday, Wednesday and Friday. The inaugural ticket price is Rs 10,000 per sector, an official said. Soon, flights to Singapore and Bangkok will also commence, the official added. Key Points
Economic TimesIndia's net direct tax collections up 17% to Rs 13.73 lakh crore till March 10
The gross collections are 22.58 per cent higher than the gross collections for the corresponding period of last year, the Central Board of direct Taxes (CBDT) said on Saturday. Key Points
India Today
IndiGo starts new daily direct flights between Mumbai and Nairobi
IndiGo has commenced new daily direct flights between Mumbai and Nairobi, starting August 5, 2023. Nairobi, Kenyas capital, and largest city is 27th international and 105th overall destination in the 6E network. Key Points
Economic TimesCSIR-UGC NET 2023 registration ends today on csirnet.nta.nic.in
Candidates can apply for CSIR-UGC NET 2023 on csirnet.nta.nic.in. The direct link is given inside. | Competitive Exams Key Points
Hindustan TimesFor 2024 polls, AAP to leverage ‘public anger’ on Sisodia arrest
AAP is now planning a pan-country signature campaign. The letter will be addressed to the PM and will say that Sisodia and Jain have been arrested as part of “BJP and Modi’s political conspiracy”. Key Points
The Indian ExpressIndia's direct tax collection up 18% YoY as of October
India's gross direct tax collection for the period from April 1 to October 9 increased by 17.95% to Rs 11.07 lakh crore, according to the Ministry of Finance. Net collections were 21.82% higher than the same period last year, reaching Rs 9.57 lakh crore. Refunds totaling Rs 1.50 lakh crore were issued during this period. Key Points
Economic TimesThese 5 midcap funds gave up to 15% return in 1 year. Do you own any?
Midcap funds invest in companies with market capitalization between 101-250, which have the potential to become large companies in the future. ETMarkets has listed the top five midcap funds based on trailing returns. HDFC Mid-Cap Opportunities direct Plan-Growth, Motilal Oswal Midcap Fund Direct-Growth, Edelweiss Mid-Cap direct Plan-Growth, Nippon India Growth Fund Direct-Growth, and Quant Mid Cap Fund Direct-Growth have given positive returns in the last one year, although most midcap stocks have underperformed due to market volatility and foreign investor risk aversion. These funds suit aggressive investors with a long-term investment horizon. Key Points
Economic Times
Get direct access to AIFs soon, and at a lower fee as well
India's Securities and Exchange Board has unveiled a series of reforms for the Alternative Investment Fund sector, which includes new disclosure norms and direct investor access. The reforms, which will come into effect on 1 May, aim to increase transparency, curb mis-selling and enable direct investor access without intermediaries. AIFs require a minimum investment amount of INR10m ($136,000) and are predominantly driven by the distribution model. The AIF sector grew at the fastest rate of 50% CAGR during 2017-2022, as per a Crisil report. Key Points
mintRakesh Roshan reveals if Siddharth Anand is on-board to direct Krrish 4: ‘First time I’m hearing about this’
Filmmaker Rakesh Roshan has directed all the films in the Krrish franchise, including the first part Koi... Mil Gaya. The movies feature Hrithik Roshan as a superhero. Key Points
The Indian ExpressAyan Mukerji to direct Hrithik Roshan’s War 2, Brahmastra part 2 and 3 postponed: ‘We need more time to perfect their script’
As per a report in Variety, Ayan Mukerji will be directing Hrithik Roshan's War 2. The filmmaker also took to social media to give updates about Brahmastra sequels. Key Points
The Indian ExpressForeign direct investment into China slumps to worst in 30 years
Chinas direct investment liabilities in its balance of payments rose by $33 billion last year, 82% down on 2022, according to data from the State Administration of Foreign Exchange released Sunday. That measure of new foreign investment into the country — which records monetary flows connected to foreign-owned entities in China — slumped to the lowest level since 1993. Key Points
Economic TimesPrivate general insurers expand market share to 53.58% in H1'FY24
Private general insurers increased their combined market share to 53.58% in gross direct premium underwritten in the first half of the current financial year from 50.81% in the year-ago period Key Points
mint
Net direct tax collections up 22 % to ₹10.60 lakh crore in FY24
The net corporate tax collection growth is 12.48 per cent, while the mop-up from personal income tax has risen by 31.77 per cent. Key Points
Firstpost‘India's dominance in digital transactions is our new Identity’, says PM Modi
Addressing the 17th Indian Cooperative Congress at International Exhibition-cum-Convention Centre, PM Modi said that in the last 4 years, a direct transfer of Rs 2.5 lakh crore has been made into farmers' bank accounts under the PM-KISAN scheme without any middlemen interference. Key Points
FirstpostCentre's direct tax collections up 22% at ₹10.60 lakh crore so far in FY24
On a gross basis, collection from direct tax, which includes corporate and Personal Income Tax (PIT), rose 17.59 per cent to ₹12.37 lakh crore. Key Points
mintTop 5 global equity mutual funds for investors with high risk appetite
International equity mutual funds offer currency depreciation benefits and growth in different economies and sectors, suitable for aggressive investors with a long investment horizon. Economic Times suggested five funds suitable for investors with appetite for taking higher risk and tolerance for enduring market volatility, which have given inflation beating returns over 3-5 years. The funds are DSP World Mining Fund, Invesco India-Invesco Global Equity Income FoF, Motilal Oswal Nasdaq 100 FOF, Aditya Birla Sun Life Commodity Equities Fund, and ICICI Prudential US Bluechip Equity Fund. Key Points
Economic TimesCISF Constable Recruitment 2024: Registration begins for 1130 posts at cisfrectt.cisf.gov.in, direct link here
CISF Constable Recruitment 2024 registration begins for 1130 posts. The direct link to apply is given here. Key Points
Hindustan Times
X manually reviewing users' direct messages, Musk has no clear answer
In a worrying trend, Elon Musk-owned X is manually reviewing certain users' direct messages (DMs) to investigate reported violations and misuse of its... Key Points
The Tribune IndiaInstagram begins blurring nudity in messages to protect teens and fight sexual extortion
The nudity blur feature won't be added to messages sent on Facebook and WhatsApp. Instagram said it’s deploying new tools to protect young people and... Key Points
The Tribune IndiaChatGPT is now more direct and less verbose in its responses: OpenAI
“We’ve improved capabilities in writing, math, logical reasoning, and coding,” said the company. Sam Altman-run OpenAI on Friday said it has made its AI... Key Points
The Tribune India