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Kumar Mangalam Birla says ‘slowbalization’ will define decade
Ritu Nanda passes away,holds a record for selling 17,000 LIC pension plans in a day
Nanda’s name was once featured in the Guinness Book of World Records for selling a staggering 17,000 pension plan policies in a single day, IANS reported. She was a “one-window” insurance advisor for top Bollywood personalities in the past over four decades with insurance policies running into stupendous amounts of hundreds of crores of rupees.
Income tax relief likely in Budget: Flat rates, fewer exemptions being considered
At present, an individual can save upto ₹1.5 lakh per annum under Section 80C of the Income Tax Act by making investments in insurance plans and few other specified instruments including buying a pension plan run under the NPS. An additional self contribution (up to ₹50,000) under section 80CCD (1B) is available as NPS tax benefit. In addition, there are deductions for contributing towards paying premium for health insurance and for paying installment for homes bought on loans.
FPIs pull out ₹2,415 crore from domestic markets in January so far
Overseas investors have turned net sellers in January after remaining buyers for four consecutive months since September 2019.
“Cautiousness among foreign investors was apparent as they closely watched the developments on the global front before investing in the Indian equity markets. Geopolitical turmoil triggered by increased tension between US and Iran played a key role in the way equity markets behaved globally,” said Himanshu Srivastava, senior analyst manager research at Morningstar Investment Adviser India.
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