Wealth Management
AVIVA launches Online Will Writing Service
New Delhi: Aviva Life Insurance has launched ``Will Writing Service’’, an end-to-end digital service, for customers who wish to make a Will in a seamless and secure manner. This new digital initiative aims to promote financial literacy amongst customers across all ages. The Aviva ‘Will...
India sees 20% rise in $ millionaires, despite GST impact
Despite adverse impact on GST implementation, India saw a 20 per cent increase in both the number of dollar millionaires and their wealth in 2017 to emerge as the fastest growing market for high net population, a report said today. The report, which comes amid...
Millionaires now control half of the world's personal wealth
New York: The rich are getting a lot richer and doing so a lot faster. Personal wealth around the globe reached $201.9 trillion last year, a 12 percent gain from 2016 and the strongest annual pace in the past five years, Boston Consulting Group said...
RBI amends Gold Monetisation Scheme to make it more attractive
Mumbai: The Reserve Bank of India (RBI) has made changes in the Gold Monetisation Scheme (GMS) to make it more attractive. The revamping of the scheme is aimed at enabling people to open a hassle-free gold deposit account. The short-term deposits should be treated as...
Foreign investors dumped $12.3 billion in emerging market assets in May: IIF
A heavy emerging markets sell-off last month saw foreigners dump a combined USD 12.3 billion of bonds and stocks, Institute of International Finance figures showed on Tuesday. Outflows were evenly split between debt and equities while regionally the biggest moves were USD 8 billion out...
Sebi lowers expenses charged by Mutual Funds to increase penetration
Mumbai: Markets regulator Sebi has drastically slashed the 'additional expense' charged by mutual funds to just 5 basis points to help increase the penetration of such products among investors. The move will help reduce the cost of investing in MFs and industry players believe that...
MFs log Rs 1.4 lakh cr inflow in April, push AUM to Rs 23.25 lakh cr
Mumbai: Investors have pumped Rs 1.4 lakh crore into mutual funds in April, driving the industry asset base to a staggering Rs 23.25 lakh crore, a surge of 9 percent from the preceding month. In comparison, assets under management (AUM) of the MF industry, comprising...
India receives $69 bn remittances in 2017; retains top slot
India has retained its position as the top remittances receiving country with its diaspora sending about USD 69 billion back home in 2017, the World Bank said today. Remittances to India picked up sharply by 9.9 percent to USD 69 billion in 2017, reversing the...
19 crore Indian adults don't have bank account: World Bank
India has 19 crore adults without a bank account despite the success of the ambitious Jan Dhan Yojana, making it the world's second largest unbanked population after that of China, the World Bank said on Thursday. Besides, almost half of the bank accounts remained inactive...
MFs garner Rs 672 bn in FY18, up 53% from FY17
Retail investors are preferring SIP option for investing in mutual funds, with the industry garnering around Rs 671.9 billion through this route in 2017-18, an increase of 53 per cent from the preceding fiscal. In comparison, Rs 439.21 billion was collected through the investment plan...
