Smallcap mutual funds narrow AUM gap with largecap peers in FY2024. Check details
Smallcap mutual funds made strides in FY2024, reducing the AUM gap with largecap peers through notable growth. The data analysis highlighted the impressive performance of smallcap schemes in managing assets under management effectively. Key Points
Economic TimesA central intelligence agency for manufacturing, made in India
The proposed intelligence unit would study the impact of schemes launched by the government aimed at lifting the share of manufacturing in GDP to 25% by 2047 from about 17% currently. In addition to Production Linked Incentive (PLI) schemes worth ₹1.97 lakh crore, the government started the Make in India initiative and the Phased Manufacturing Programme (PMP) to boost local production and encourage export substitution. Key Points
Economic TimesWe mustn't spread India’s social sector spending too thin
The political rhetoric on tackling poverty and ensuring social justice isn’t adequately reflected in our budget allocations, as many welfare programmes remain under-funded. We’d be better off focusing on a handful of initiatives. Key Points
mintBudget 2024: Freebies or welfare schemes, what can the Modi government opt for?
Ahead of the Union Budget 2024, we discuss the upcoming interim Budget in India and the debate surrounding welfare schemes and freebies. Prime Minister Narendra Modi opposes schemes from opposition-ruled state governments that offer cash or incentives, calling them 'revdis'. The Indian government is likely to extend social security to domestic workers and increase funds transferred under the PM Kisan scheme. The lack of a clear definition adds fuel to the debate. Key Points
Economic TimesPLI schemes report card: Production/sales touch Rs 8.61 lakh crore; over 6.78 lakh jobs created so far
PLI schemes form a major plank of India's Atmanirbhar plan. Currently, PLI schemes for 14 key sectors (with an incentive outlay of Rs. 1.97 lakh crore) are under implementation. Key Points
Economic Times
These 11 equity schemes lost the most in 2023
ICICI Prudential Strategic Metal and Energy Equity FoF and HSBC Global Emerging Markets Fund lost 0.78 per cent and 0.16 per cent respectively in 2023. Key Points
Economic TimesPyramid scheme launches climb to highest in 5 years
India saw the highest number of multi-level-marketing pyramid schemes launched in five years in 2023, according to Strategy India, a policy, compliance and direct-selling consultancy. These schemes, based on money-circulation networks, pay existing investors with funds collected from new ones instead of profits. Many remain unchecked by taking advantage of loopholes in existing consumer protection laws. Key Points
Economic Times2024 Lok Sabha polls: BJP virtually triumphs over caste politics
The BJPs experiment with the welfare of “Yuva, Mahila, Kisan and Garib” has paid its political dividends in the three states of the Hindi heartland. And the road ahead for the party now looks easy with its continuous attempts to bring various castes under an umbrella of “class politics”, with the help of the welfare schemes launched by the Modi government. Key Points
Economic TimesGovt needs to reduce import duties on inputs, capital goods to lessen need for export schemes: GTRI
India's Global Trade Research Initiative (GTRI) suggests that reducing import duties on inputs and capital goods could help reduce the need for many existing export schemes. The think tank argues that many countries, including major trade partners like the EU and the US, view Indian schemes as subsidies and punish exporters by charging countervailing duties. Key Points
Economic TimesMy sisters, nieces will stand by me: MP CM Shivraj Singh Chouhan
If you improve a womans life, you improve the life of a family. Even before I became the chief minister, I provided all help for marriages of girls from poor families. As CM, I launched these schemes to bring about women empowerment, says CM Chouhan. Key Points
Economic Times
Will your mutual funds be able to charge performance-linked fees?
Sebi wanted to cap the Total Expense Ratio charged by mutual funds as the total costs incurred by investors were way above the prescribed fee. The Sebi also proposed a performance-linked fee. Will it make a big difference to mutual fund investors? Key Points
Economic TimesSocial security schemes safeguard underprivileged from financial vulnerability: FM Sitharaman
The three schemes are dedicated to the welfare of the citizens, recognising the need for securing human life from unforeseen eventualisation and financial uncertainties. In order to ensure that the people from the unorganised section of the country are financially secure, the government launched two insurance schemes -- PMJJBY and PMSBY; and also introduced APY to cover the exigencies in the old age. Key Points
Economic Times3 equity schemes offer over 50% returns in three years
Most equity MF investors look at the three-year returns of schemes. ETMutualFunds looked at the short-term performance of equity and equity-oriented schemes and found that three equity schemes offered 53-62% returns. Key Points
Economic TimesPSU banks set target for selling flagship govt insurance schemes in FY24
There are about 8.3 crore beneficiaries under PMJJBY and 23.9 crore under PMSBY, as of now. Key Points
FinancialexpressWhat are the best investment instruments for senior citizens? Hemant Sood answers
Hemant Sood, MD of Findoc, recommends the top investment instruments for senior citizens as NPS, Atal Pension Yojana, and Pradhan Mantri Vaya Vandana Yojana. These schemes offer low-risk or zero-risk investments backed by the government of India. The returns range from 6-7%, with regular interest payments. However, the regular monthly income from these schemes is taxable. Senior citizens should consider tax-efficient investment instruments, such as those linked with insurance, for long-term schemes. Key Points
Economic Times
Three state-owned non-life insurers fail to meet solvency requirements: RBI report
The Reserve Bank of India's latest Financial Stability Report reveals that three state-owned insurance companies are not meeting regulatory solvency requirements. The solvency ratio for public sector non-life insurers is sub-optimal, with three out of four recording ratios below the baseline of 150% set by the Insurance Regulatory and Development Authority of India. However, the report indicates that the solvency ratio for life insurance companies, both public and private, remains above the prescribed threshold at an aggregate level. Key Points
Economic TimesCentre not considering any new PLI schemes: DPIIT secretary
The focus now is to strengthen and support the existing PLI schemes across 14 key sectors. But the decision will be a setback for sectors like port and shipping, heavy industries, steel and mining sectors, which were looking at new PLI schemes to manufacture import substitution products. Key Points
mintWhat are balanced mutual funds?
Balanced funds are a new category of hybrid funds that came into existence after the recategorisation of mutual fund schemes by Sebi in 2017. A balanced fund has the option of investing 40-60% of its corpus in equity, and 40-60% in debt. Key Points
Economic TimesFranklin Templeton MF gets Rs 1,398 cr from Vodafone Idea
Franklin Templeton MF side-pocketed its exposure in the telecom player and in January 2020, various securities issued by Vodafone Idea in the schemes were segregated from the total portfolio. The creation of segregated portfolios is a mechanism to separate distressed, illiquid, and hard-to-value assets from other more liquid assets in a portfolio. Key Points
Economic TimesUS announces charges in $2.5 billion healthcare fraud takedown
The U.S. Justice Department on Wednesday announced federal and local criminal charges targeting 78 defendants across 16 states as part of a law enforcement action involving $2.5 billion in alleged healthcare fraud schemes targeting elderly and disabled people, HIV patients and even pregnant women. Key Points
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Exclusive: UK rips up state guarantees on nearly 1 billion pounds of COVID loans
The UK government has scrapped guarantees on nearly 1 billion pounds ($1.2 billion) of bank loans handed out to ailing businesses during the COVID-19 pandemic, leaving lenders on the hook for some of the borrowings that will not be repaid. Key Points
ReutersFormer CMs Siddaramaiah, HDK stopped central schemes: Nadda
Chikkaballapur (Karnataka) [India], April 25 (ANI): BJP president JP Nadda on Monday accused former Karnataka of creating obstacles to the implementation of Central schemes pioneered by Prime Minister Narendra Modi in the state. The BJP national president made the remark while holding a roadshow at Sidlaghatta in Chikkaballapur district on Tuesday. “Governments of former CMs […] Key Points
ThePrintAll 4 best performing mutual funds since last Holi are about PSU stocks. Did you miss the boom?
We considered all equity categories such as large cap, mid cap, large & mid cap, multi cap, small cap, ELSS, flexi cap, focused fund, value, contra, sectoral and thematic funds. We calculated returns starting from March 8, 2023 to March 22, 2024. We considered all regular and growth option schemes. Key Points
Economic TimesSBI customers can use only Aadhaar to enrol in Atal Pension Yojana, other social security schemes
State Bank of India (SBI) customers can now enrol in various social security schemes using only Aadhaar. They need not carry their passbook with them at customer service points of SBI while opening up various social security scheme accounts like Atal Pension Yojana, Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and others. Key Points
Economic TimesGovernment widens scope of e-Shram portal to include family details of unorganised workers
According to the labour ministry, under the revamped portal the registered workers will now have access to employment opportunities, skilling and apprenticeship opportunities, digital skilling and states schemes. Labour and employment minister Bhupender Yadav launched the new features on the eShram portal. Key Points
Economic Times
ICICI Pru MF halts fresh subscriptions via lumpsum mode in mid & smallcap schemes
ICICI Prudential Mutual Fund suspends fresh subscriptions in lumpsum mode and switches into Smallcap and Midcap Fund from March 14. Trustees have temporarily discontinued subscriptions to the schemes. The ongoing SIP/ STP/Special Product registered prior to the effective date will continue in the midcap and smallcap schemes. Key Points
Economic TimesMutual Fund Screener: Banking funds lose 2% in 2024 so far. What should investors do?
LIC MF Banking & Financial Services Fund has lost the most at around 5.31% year-to-date (YTD) so far. Meanwhile, Tata Banking & Financial Services Fund has lost around 5.28%. Key Points
Economic TimesGovt, industry discuss ways for successful implementation of PLI schemes
Senior government officials and industry players have discussed ways to enhance collaborations and create a clear action plan for successful implementation of PLI schemes. Around 1,200 delegates including beneficiary companies under the PLI scheme for 14 sectors and officials met to discuss and chart out the strategy for effective implementation. Officials from ministries and departments, including NITI Aayog, electronics, IT, telecommunications, heavy industries, renewable energy, and pharmaceuticals, participated in the discussions. Commerce and industry Minister Piyush Goyal encouraged industry's constructive feedback and collaborative engagement to shape the policies and effectiveness of the schemes. Key Points
Economic TimesPLI is initial support, industry must face competition: Piyush Goyal
India Business News: Commerce and industry minister Piyush Goyal emphasizes that the Production-Linked Incentive (PLI) schemes are meant to provide initial support to boost manufacturing, but companies should be prepared to face competition. He urges the industry to focus on global markets and collaborate for growth. The government has disbursed Rs 4,415 crore under the schemes for eight sectors, including electronics and pharma, till October 2023. Key Points
Times Of IndiaClamping down on Ponzi schemes like never before: FM Sitharaman
A Ponzi scheme is one where old investors are paid returns with money deposited by new investors. The new entrants may not get any returns and, in some cases, they may lose the money they invested. In India, Ponzi schemes are banned under the Banning of Unregulated Deposit schemes Act, 2019. Key Points
Economic Times
PPF, SSY, Senior Citizen Savings Scheme, other post office schemes interest rates for April- June quarter
Post office schemes interest rates for April-June quarter: The government revises small savings schemes interest rates every quarter. Here is a look at the interest rates on various post office schemes for the first quarter of FY 2024-25 along with its compounding frequency. Key Points
Economic TimesBest medium to long duration funds to invest in 2023
Those with risk appetite and long investment horizon, can invest in these schemes with the help of competent mutual fund advisors. The only basic requirement is that you should be aware of the extra risk in these schemes. Key Points
Economic TimesMFs' Favourites: These 7 microcap stocks rallied 100-600% in FY24 so far
The Nifty Microcap 250 index has surged over 100% in FY24, while during the same period, the Nifty50 index has gained 27%. It's noteworthy to know that 96 out of the 250 stocks in the microcap index have become multibaggers in FY24, and in fact, 192 stocks have outperformed the Nifty Microcap index during this time frame. Key Points
Economic TimesNo change in Interest rates for PPF, SSY, Senior Citizen Savings Scheme, and other post office schemes for April- June quarter 2024
New Delhi, March 31 (ANI): There will be no change in the interest rates of your post office savings, senior citizens saving schemes (SCSS) and public provident fund (PPF) for the new quarter beginning April 1st 2024. Government revises small savings schemes interest rates every quarter. For the first quarter of fiscal FY25, April-June 2024, […] Key Points
ThePrintTwo-third ELSS schemes fail to beat benchmarks. How effective is it as a tax-saving tool?
Axis ELSS Tax Saver Fund, the largest scheme in the ELSS category based on assets managed, failed to beat its benchmark in three and five year horizons. The scheme manages assets of Rs 33,526. 42 crore. Key Points
Economic TimesPLI schemes witness over Rs 1.03 lakh crore of investment till November 2023
New Delhi [India], January 17 (ANI): Production-linked incentive (PLI) schemes witnessed over Rs 1.03 lakh crore of investment till November 2023, which has led to production or sales of Rs 8.61 lakh crore and employment generation (direct and indirect) of over 6.78 lakhs, Ministry of Commerce and Industry said in a press release. PLI schemes […] Key Points
ThePrintAhead of 2024 polls, RSS brass meets Shah, Sitharaman & other ministers over economic policies
BJP and RSS hold meeting to discuss strategies on how to take PM Narendra Modi's economic policies to voters. Sangh affiliates also give feedback on impact of welfare schemes. Key Points
ThePrintGovt to sort out green nods, visas to Chinese professionals under PLI schemes
The Indian government is working to address issues raised by stakeholders regarding production-linked incentive schemes, such as delays in claims and environmental clearances. The schemes cover 14 sectors, including automobiles, textiles, and food products. Cabinet secretary Rajiv Gauba has held meetings with the sector-related officials to discuss progress so far. Key Points
Economic Times