Bharat Bond ETF, the initiative of the Department of Investment and Public Asset Management (DIPAM) of the government, was launched on December 12.The government had announced plans for debt ETFs in Budget 2019. The ETF has a duration of 3 years maturing in 2023 with a yield return of 6.69 percent and another duration of 7 years maturing in 2030 with a yield return of 7.58 percent. Both will be listed on NSE and BSE.Stressing on the appeal factor of 3-year and 7-year duration, Deepak Jasani Head Retail Research, HDFC Securities said, "Returns of this 3-year variant could be compared to Banking and PSU debt funds that have an average maturity of 2-4 years and a similar portfolio holding. Longer duration variant (10-years) would naturally bear high duration risk and can be considered by informed investors who want to take high duration bets."Close This ETF is managed by Edelweiss Mutual Fund. So the fund is called Edelweiss BHARAT Bond ETF, and the fund will invest in the bonds … [Read more...] about Mutual funds wrap: Bharat Bond ETF NFO open until December 20; Will retail investors bite?
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Understanding mutual funds, deciding the best options for investments and even redeeming them can be challenging for customers from a non-financial background or those embarking on their investment voyage.Though companies often display plenty of information about their mutual fund products on their website, customers still find it difficult to comprehend it and get the precise information they require.Realising this, Tata Mutual Fund (TMF) sought to make it easier and effortless for its existing and prospective customers to understand the nuances of mutual funds.Close It selected Haptik, a conversational AI company and a subsidiary of Reliance Industries, to create an Intelligent Virtual Assistant (IVA) that could replicate the content available on their site and offer it in an interactive way to answer customer queries. related news VoPay & Hydrogen to offer clients seamless access to open banking payments Commercial Banks Struggle to Use AI for Competitive Impact … [Read more...] about ‘Prof. Simply Simple’—the chatbot that will resolve 70% of Tata Mutual Fund’s customer queries
The Indian economy has grown by leaps and bounds after attaining Independence in 1947. The history of trade and commerce in the Indian subcontinent can be divided into many phases — deindustrialization induced by colonization, socialist central planning in the aftermath of Independence and free market economics after the liberalization reforms of 1991.India’s share of the world economy slipped from around 25 percent in 1700 to 4.2 percent in 1950. A century under colonial rule had sapped the country’s entrepreneurial spirit. The country was forced to divert its raw materials to feed the mechanized factories that had sprung up in Britain during the industrial revolution. Poverty and famine was rampant.After the British left Indian shores, the newly elected government charted a course for the country that entailed capital controls and central planning, much along the lines of the Soviet Union. Even though the ruling dispensation at the time had pledged … [Read more...] about The India growth story: Here’s how some macro indicators have fared since 1947
Rahul AgarwalIn its latest Monetary Policy Committee (MPC) meeting on December 5, the Reserve Bank of India kept key rates unchanged at 5.15 per cent (lowest in nine years, after five straight cuts with a cumulative 135 bps reduction this calendar year, to boost the country’s sagging economy.RBI retained its 'accommodative' policy stance, which suggests that this is a pause rather than an end to the loosening cycle, and it still has room for a rate cut. Core inflation, which excludes energy and food items, slid beyond a seven-year low of 3.47 per cent, which clearly indicates that there is hardly any demand for non-food items in the market.Close Usually, a rate cut helps revive economic growth as it allows retail customers to avail cheaper loans and works like a big booster for the large industrial sector, who will be able to avail bulk loans at lower interest rates. related news Reliance forms a base, recommend delta appreciating based … [Read more...] about Are the RBI’s repo rate cuts enough to reinforce GDP growth?
The Securities and Exchange Board of India (SEBI) has rejected a plea from the lenders of Karvy Stock Broking (KSBL) that requested depositories to return the securities pledged by the broker to them.ICICI Bank, IndusInd Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank and Bajaj Finance had granted loans to Karvy on pledged client securities. Their total exposure stands at more than Rs 1,800 crore.According to an order issued by the regulator on December 13: "In the absence of corresponding trade instruction, the pledging of securities of such clients is also unauthorised and, hence, in law not treated as a valid pledge."Close ICICI Bank, IndusInd Bank and HDFC Bank had moved the Securities Appellate Tribunal (SAT) early in December stating that many of these securities had been used to borrow money from them, and pleaded with the tribunal to either get the securities back to them or put them in an escrow account to protect their funds. related news Sun Pharma's Halol … [Read more...] about Karvy case | SEBI rejects lenders’ plea for relief