The RBI data showed a clear trend of increasing preference for term...
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True North, Krishnan Ramachandran sell 10 pc stake in Niva Bupa Health for Rs 1,507 cr
DSP Mutual Fund acquired more than 4.96 crore shares in four...
Despite interest surge in gold, institutional investors remain hesitant: Report
Investment-related demand for gold that increased by 170 per cent...
Post office savings schemes compete with bank FDs after 3 hikes in rates by govt
The return on post office term deposits of two years under the small savings schemes is 6.9 per cent, the same as offered by most banks on deposits of similar maturity New Delhi: Post office term deposits, which were fetching lesser returns than bank FDs in the recent...
RBI to set up portal to search across multiple banks for unclaimed deposits
About Rs 35,000 crore unclaimed deposits as of February 2023 were transferred to RBI by public sector banks (PSBs) in respect of deposits which were not operated for 10 years or more Mumbai: The Reserve Bank on Thursday announced to set up a centralised portal to...
Mukesh Ambani ranks 9th in Forbes World’s Billionaires List 2023, highest in Asia
While Forbes' global count of billionaires slipped from 2,668 last year to 2,640 in 2023, the tally in India improved from 166 in 2022 to 169 this year. Forbes noted that falling stocks, wounded unicorns and rising interest rates translated into a down year for the...
Govt raises interest rates on most small saving schemes
With the revision, a one-year term deposit with post offices would earn 6.8 per cent (up from 6.6 per cent), for two years -- 6.9 per cent (up from 6.8 per cent), three years -- 7 per cent (up from 6.9 per cent) and five years -- 7.5 per cent (7 per cent New Delhi:...
Investors’ wealth erode by Rs 5.86 lakh cr in FY23; Sensex marginally up 0.72 pc
''In FY23 we have seen events of decadal high inflation, aggressive monetary policy stance by global central banks w.r.t interest rate hikes, banking crisis in US and Europe, and continuing Russia-Ukraine war,'' said Srikanth Subramanian, CEO of wealth management...
Inclusion, diversity top driver of benefit strategies offered by companies: Survey
The survey further revealed that an increasing number of companies are now moving towards offering programmes under lifestyle risk management and target specific conditions. Diversity, equity and inclusion (DEI) programmes are the major social wellbeing initiatives...
Fed increases rates by 25 bps but signals hikes are near an end
Jerome Powell, Chair of the Federal Reserve The move set the U.S. central bank's benchmark overnight interest rate in the 4.75%-5.00% range, with updated projections showing 10 of 18 Fed policymakers still expect rates to rise another quarter of a percentage point by...
Mukesh Ambani 9th wealthiest in the world, Adani at 23rd rank
Mukesh Ambani, Chairman and Managing Director,Reliance Industries' In stark contrast to the 2022 M3M Hurun Global Rich List, India is at the top of the league table when it comes to wealth depletion Chennai: Despite an erosion of 20 per cent or $21 billion in wealth,...
Rural households prefer savings instruments over term insurance plans: Max Life Survey
Saving for children’s education and marriage emerged as top savings objectives, multiple anxieties around savings and expenditures for the future abound The low uptake of life insurance products in rural Indian can be primarily attributed to inadequate funds to buy...
Credit Suisse crisis likely to make rich Indians nervous to deal with international wealth managers
This year, Citigroup Inc. exited its retail operations in India through a sale to Axis Bank, transferring all its wealth management business to the country’s third-largest private sector lender In addition, in the past decade, Credit Suisse’s new buyer — UBS AG,...