Wealth Management
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...
Equity MF inflow down 59% to Rs 6,657-cr in March on LTCG
Equity mutual funds witnessed a net inflow of Rs 6,657 crore in March, a plunge of 59 per cent from the preceding month, due to volatile stock markets along with profit-booking by investors to avoid payment of LTCG tax. According to a report by rating...
APAC employees’ life gets harder as money pressures mount: Willis Study
Hong Kong: Employees in Asia Pacific are deeply concerned about their financial security, negatively impacting their personal and work lives, according to a new survey by Willis Towers Watson, a leading global advisory, broking and solutions company. The Willis Towers Watson 2017/2018 Global Benefits Attitudes...
India:Equity mutual funds log Rs 1.7 lakh crore inflow in FY18
Investors pumped in over Rs 1.7 lakh crore in equity-oriented mutual fund (MF) schemes in 2017-18, making it the fourth successive year of net inflows, according to the data from the Association of Mutual Funds in India (Amfi). Strong inflows have pushed the asset base...
Post office savings account customers can soon avail full digital banking service
New Delhi: Around 34-crore post office savings account holders will be able to avail a full-fledged digital banking service from May as the government has approved linking such accounts with that of India Post Payments Bank (IPPB). “The finance ministry has approved linking of savings...
Unmarried daughter who is above 18 can claim maintenance from father: HC
MUMBAI: An unmarried daughter is entitled to claimmaintenance from her father even after attaining the age of 18 if her parents are divorced or estranged, the Bombay High Court has ruled. Also, a woman can file an application on behalf of her major daughter to...
As Sensex rises 11%, investors' wealth swells nearly Rs 21 trn in FY18
Mumbai: Investors' wealth surged Rs 20.70 trillion during 2017-18 fiscal helped by robust broader market sentiment where the BSE benchmark index rose by over 11 per cent. The 30-share Sensex soared 3,348.18 points, or 11.30 per cent, to 32,968.68 during 2017-18. The flagship index touched...
Nearly 23,000 dollar-millionaires left India since 2014
Nearly 23,000 dollar-millionaires have left India since 2014, with 7,000 leaving in 2017 alone, taking India to the top of the exodus charts. Millionaires are defined as those with net assets of more than $1 million, working and living in the country including expats. India...
USA:Ten years after crash, Americans still afraid to embrace the stock market
Ten years after the start of the financial crisis that erased $16.4 trillion in assets from U.S. households, Americans have yet to embrace the U.S. stock market with the same fervour as before, holding fewer individual stocks and putting less money into equities overall despite...
