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The deadline or due date for filing ITR for individuals and even for some other taxpayer categories has now been extended beyond the earlier prescribed deadline of September 30 in light of the glitches in the new income tax portal which
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Taxes
oi-Vipul Das
The Ministry of Finance has modified rules of the Income-tax Act, 1961 relating to tax deducted at source (TDS) on interest payments made by a scheduled bank to a resident of a scheduled tribe (ST), according to an order issued on September 17, 2021 by the Central Government of India. According to the statement, the central government has said that “no deduction of tax shall be made on the following payment under section 194A of the Act, namely payment in the nature of interest, other than interest on securities, made by a Scheduled Bank (hereinafter the ‘payer’) located in a specified area to a member of Scheduled Tribe (hereinafter the ‘receiver’) residing in any specified area as referred to in s.10(26) of the Act.”
Scheduled banks now have to be sure that the member of the Scheduled Tribe resident in the designated region is a member of the Scheduled Tribe, “and the payment as referred above is accruing or arising to the receiver as referred to in section 10(26) of the Act, during the previous year relevant for the assessment year in which the payment is made, by obtaining necessary documentary evidences in support of the same,” according to the order.
According to the official rules of the Income-tax Act, the scheduled bank will be required to disclose the above said payment in the statements of deduction of tax as referred to in sub-section (3) of section 200 of the Act. The payment made or aggregate of payments made during the previous year does not exceed Rs 20 lakhs.
For the purposes of the said notification, ‘Scheduled Bank’ means a bank included in the Second Schedule of the Reserve Bank of India Act, 1934, CBDT said in the statement.
The Finance Ministry also extended the deadline for linking Aadhaar to the Permanent Account Number (PAN) by six months to March 31, 2022. The deadline for finishing penalty procedures has also been extended by six months, until March 31, 2022. For detailed details, please click here.
Story first published: Saturday, September 18, 2021, 10:47 [IST]
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Back home, the home financier will likely utilise the proceeds for onward lending. The debt papers likely offered 4.5 percent. They will have a ‘put’ option at the end of three years giving investors an opportunity to exit before the scheduled maturity, sources said.
Deutsche Bank, CLSA, Edelweiss UK and Elara Capital helped the company raise the funds. Individual bankers could not be contacted immediately for comments. Indiabulls Housing did not immediately respond to ET’s query.
The bonds are supposed to be listed on the Singapore Stock Exchange and marked as high-yield securities, below the investment grade.
“A meeting of the Securities Issuance Committee of the board of the directors of the Company is scheduled to be held on September 21, 2021, to consider and approve, amongst other things, the issue price and other terms of the FCCBs,” the company said in a separate exchange filing on Thursday.
Indiabulls Housing Finance has set a target to disburse Rs 2,000 crore worth of home loans every month by end of this fiscal year. It is currently disbursing about Rs 800 crore every month.
The company has also been focussing on co-lending partnerships. A few days ago, Punjab & Sind Bank (PSB), a state-owned bank, entered into a strategic co-lending alliance with Indiabulls Commercial Credit and Indiabulls Housing Finance (IHFL) for MSME and priority sector home loans.
At the beginning of the fiscal year, Housing Development Corporation of India (HDFC Ltd), had entered into a similar partnership with Indiabulls Housing.
Earlier in the month, the housing finance company launched its sale of local bonds through a public issue. It remains open for subscription with the borrower garnering about Rs 591 crore for now.
“We can see credit demand coming up with increasing vaccination drive,” Gagan Banga, managing director at Indiabulls Housing Finance had told ET on September 1.
Indiabulls Housing Finance reported a 3.2 percent rise in its consolidated net profit to Rs 282 crore during the April-June quarter.
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Among sectors, public sector banks lost the most, while private banks gained the most today.
On Friday, banking and financial services stocks were in focus after Finance Minister Nirmala Sitharaman announced the much-awaited bad bank.The Nifty Bank scaled the crucial 38,000-level mark for the first time ever, and a fresh lifetime high of 38,112.75.
The BSE Sensex has gained around 9% over the last month. Stock-specific moves, weak cues from Asian markets, inflation data, revival of economic activity in Europe, improving economic data and healthy pick up in India’s daily inoculations were considered key driving factors this week.
Monday Closing bell: Indices end flat on negative bias, Nifty Bank falls
Domestic equity indices ended in the red on Monday, with BSE Sensex down 0.2% at 58,177 points and Nifty 50 down 0.08% at 17,355. However, mid and smallcap stocks outperformed other sectors, with BSE Midcap index closing 0.32% higher and the smallcap index ending with a gain of 0.80%.
Nifty Bank and Nifty Financial Services closed 0.58% and 0.19% lower, respectively. ICICI Bank, HDFC Bank and SBI Life Insurance were top laggards among Sensex stocks, while Kotak Mahindra Bank, Bajaj Finserv, Chola Invest and Power Finance were top gainers.
Tuesday Closing bell: Indices end with mild gains, broader markets outperform
The BSE Sensex closed at a high of 58,247 points, up 69 points, and the Nifty 50 rose 25 points to end at 17,380, a record closing high for the benchmark. Broader markets outperformed the benchmarks as both mid and small-caps were up 1% each.
Bank Nifty opened higher and made an intraday high of 36840 but failed to sustain higher levels. It closed with a gain of 0.38%, and Nifty Financial Services closed at 18,103, down 0.13%.
Wednesday Closing bell : Sensex, Nifty end at record closing highs
Headline indices Sensex and Nifty 50 ended at record closing highs, with both indices up nearly 1% each. The Sensex closed at 58,723 points, up 0.82%, while Nifty closed the day at 17,519, up 0.80%. BSE Midcap and Smallcap indices closed 0.65% and 0.86% higher, respectively.
Nifty Bank closed 0.65% higher at 36,852, while Nifty Financial Services ended at 18,158, up 0.30%. SBI, IndusInd Bank and HDFC were among the top gainers, while Axis Bank and HDFC Bank were among the top laggards.
PSU bank index jumped 2.83% with J&K Bank, Bank of Baroda, IOB, Indian Bank gaining 2.7% each.
Thursday Closing bell: Market closes at record highs again; banks, financials outperform ahead of FM announcement
Domestic benchmark indices ended at record closing highs on Thursday. Banks and financials outperformed all the sectors, ahead of Financial Minister Nirmala Sitharaman’s bad bank announcement.
BSE Sensex jumped 418 points to end above 59,100 mark for the first time at 59,141, while the Nifty 50 index ended at 17,629.50, rising 0.63%. BSE Midcap and Smallcap indices also hit their fresh record highs intraday, and closed 0.48% and 0.08% higher, respectively.
Among sectors, the Nifty PSU Bank index jumped 5.43%, while the Nifty Private Bank index clocked a gain of 2.67% . The Nifty Bank index rose 2.22%, while Nifty Financial Services gained 1.09%. Induslnd Bank emerged as the top gainer jumping 7% followed by SBI, Kotak Mahindra Bank, ICICI Bank, Axis Bank and HDFC Bank.
Friday Closing Bell: Sensex and the Nifty snapped 3-day winning streak, PSU banks gain
Having scaled fresh highs in early deals, benchmark indices lost steam as investors were seen booking profits after the three-day winning streak. Losses were led by PSU banks, auto, pharma stocks. BSE Sensex ended 0.21% lower at 59,016, while the Nifty 50 index fell 0.25% to settle at 17,585. BSE Midcap index fell 1.14% and the BSE Smallcap index closed 1.06% lower.
Bank Nifty ended at 37,811, up 0.38%, while Nifty Financial Services rose 0.65% ending at 18,476. Nifty PSU Bank index fell more than 3%, with Bank of Baroda losing 4.37%, by IOB, UCO Bank and Bank of India.
Key Industry takeaways
Retail inflation softens to 4-month low in August at 5.3%
Retail inflation based on Consumer Price Index (Combined) eased to a four-month low of 5.3% in August due to moderation in food prices along with a high base effect, data released by the National Statistical Office (NSO) on 13 September showed.
The August inflation print is within the targeted range of 2±4 per cent of the Reserve Bank of India (RBI) though this is the seventh consecutive month of an inflation print higher than 5 per cent and 23rd consecutive month of it being above the RBI’s target of 4%.
SREI’s Rs 35,000-crore loan may be classified as NPA
Banks may classify Rs 35,000 crore loan given to SREI group as Non Performing Asset (NPA) by the end of this quarter after the National Company Law Tribunal (NCLT) set aside the previous order restraining banks from such classification.
According to analysts’ estimates, Indian Bank and Canara Bank have exposures of Rs 2,000 crore and Rs 1,200 crore, respectively, to Srei group, while ICICI Bank and Axis Bank have Rs 800 crore each.
Sebi proposes to tighten timeline for filing settlement applications
The Securities and Exchange Board of India on Tuesday proposed to tighten the timeline of settlement mechanism, whereby it suggested fixing the total timeframe for filing the application at 60 days after receipt of the notice to show cause.
The total timeframe for filing the application for settlement may be fixed at 60 days of the date of receipt of the show-cause notice or the supplementary notice, whichever is later, Sebi said in a consultation paper.
Finance Minister Sitharaman announces bad bank
Finance Minister Nirmala Sitharaman announced the much-awaited bad bank on Thursday, and said that the Union Cabinet approved on Wednesday the sovereign backing of up to Rs 30,600 crore for the securities receipts.
The planned National Asset Reconstruction Company Ltd (NARCL) will issue securities receipts to banks as it takes on non-performing assets from their books. These securities receipts will be valid for five years.
Mahindra Finance enters vehicle leasing and subscription business
Mahindra & Mahindra Financial Services Ltd announced on Thursday, its entry into vehicle leasing and subscription business, under the brand name ‘Quiklyz’.
Under this model, consumers can pay a monthly fee to access a vehicle of their choice across all car brands, at a lower price as against regular ownership.
IDFC Board approves initiating steps to divest mutual fund business:
The board of directors of IDFC Ltd and IDFC Financial Holding Co Ltd at their meetings held on Friday have considered and approved to initiate steps to divest its mutual fund business subject to requisite regulatory approvals, as applicable.
The boards have authorised respective strategy and investment committees to take necessary steps, including appointment of investment banker, for the same.
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The report, which is based on a survey, said most of the respondents believed that the reason behind the high unemployment rate is the lack of employment opportunities available in the areas concerned.
The survey is covered 1,100 business leaders between August 1 and September 10. They include those in sectors such as banking and finance, construction and engineering, education/ teaching/ training, FMCG, hospitality, HR solutions, IT, ITeS, and business processing outsourcing, logistics, and manufacturing, among others.
The report further showed that more than 57 per cent of the total respondents strongly agreed that the revival of MSMEs would aid in improving the current employment situation.
About 14.3 per cent of the respondents believe that the reason behind the rural unemployment was the lockdown restrictions, and another 14.3 per cent said it was due to the rise in the COVID-19 cases, according to the report.
The remaining respondents believed that it is a result of all reasons mentioned above that led to a spike in unemployment in rural areas, it added.
Meanwhile, the report found that over 85 per cent of respondents stated that the manufacturing sector, which has been witnessing a slowdown, has been a major contributor to the rise in unemployment in the rural areas.
As factories and production are one of the major contributors of rural employment and with the pandemic halting businesses, the manufacturing sector has majorly impacted rural unemployment compared to the service sector, it said.
Genius Consultants Chairman and Managing Director R P Yadav said, “Rural unemployment has always been a major concern even before the pandemic. With businesses and manufacturing slowing down, the situation has deteriorated even further.”
Yadav added that there is a dire need to bring in a swift course of action to elevate employment opportunities in the rural parts of the country.
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NCLT has appointed Parag Sheth as the resolution professional. Gujarat-based real-estate developer GCCL Infrastructure & Projects owes Rs 54.16 lakh to its creditors. The company had approached the Ahmedabad bench of NCLT under the newly introduced pre-packaged insolvency resolution process. “The financial creditor approved the decision of the directors to file this application,” observed the division bench of Madan Gosavi and Virendra Kumar Gupta in its order of September 15.
In April, the government had issued an ordinance to amend the Insolvency & Bankruptcy Code (IBC) to provide a quicker and more cost-effective mechanism for the Micro, Small and Medium Enterprises (MSME) sector, which has been hit the hardest by the pandemic. On July 28, the Lok Sabha passed the Insolvency & Bankruptcy Code (Amendment) Bill 2021 to pave the way for pre-packaged insolvency resolution. “The incorporation of the pre-packaged insolvency resolution process for MSMEs in the code will alleviate the distress faced by MSMEs due to the impact of the pandemic and the unique nature of their business,” said the government at the time of issuing the ordinance.
According to Anil Goel, founder of AAA Insolvency, pre-packaged insolvency resolution gives a chance to MSMEs to restructure their debts and start afresh while the old losses can be shared with the creditors. “It would facilitate more transactions of investment, partnership, mergers & acquisitions and business transfer as the acquirer would get a clean slate on the affairs of the company,” adds Goel.
The minimum threshold for default for such companies is Rs 10 lakh for initiation of the process. Also, as per the law, about 66% of creditors must approve the Pre-Pack Insolvency Resolution Process. “Pre-Pack insolvency brings two elements, first it takes away the fear of subsequent investigation by Govt agencies when lenders agree for resolution package since this is also a judicial process and second MSME borrowers can continue to run their business which will help to protect the value of the businesses,” said Nirmal Gangwal, Managing Partner, Brescon & Allied Partners LLP. “Many more MSME are expected to take this route to resolve their debts in near future.”
As per the laws, MSMEs should not have a turnover of more than Rs 250 crore excluding exports, and the investment in plant and machinery should not exceed Rs 50 crore in the preceding year. Earlier, the MSME status was limited to only manufacturing companies and service providers. It has now been extended to trading companies as well by the Centre.
However, few experts are skeptical about the long-term success of the regulations. “Unlike normal insolvency resolution process, in Pre-Pack, the role of the resolution professional is more of a monitor and the company’s promoter runs the show and hence the lenders will have to keep the long term viability of the business in mind when they take a call to rescue a business,” said Nishit Dhruva, managing partner of law firm MDP & Partners. “Only time will tell whether this will be successful in the future.”
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According to the Sharekhan report, there is a healthy demand in the residential segment.
“Mahindra Lifespace Developers sees healthy sales traction in Luminaire (Gurgaon) along with pricing improvement (from Rs. 10,300 per square feet to Rs. 11,500 per sq feet plus) for larger area (3500sft). It was able to achieve decent sales in Alcove (MMR) in last month. It is gearing up for one project launch each quarter with an aim to achieve Rs. 2500 crore sales per annum over next 4-5 years,” the brokerage has said.
According to Sharekhan, Mahindra Lifespace Developers is poised to scale up its sales and execution over the next two to three years with a strong management team at the helm of having credible experience in their respective fields.
:Further, the company is expected to benefit from the government’s relentless focus on affordable housing segments, rising affordability levels, favourable state government policies for real estate and ample inorganic growth opportunities. The company’s low gearing can be utilised to raise debt to fund land acquisitions. Hence, we retain a Buy on the stock with a revised price target of Rs. 340,” the brokerage has said. Shares in Mahindra Lifespace Developers was last seen trading at Rs 274.60.
According to Sharekhan State Bank of India has pleasantly surprised by keeping asset quality under control during the Q1FY22. Slippages (2.6-2.7% annualised) were higher sequentially, but in line with expectations and better than many private sector banks. In addition, the bank indicated strong recovery in July/August.
“SBI has a healthy provision cover of 86% (including AUCA) as of Q1FY22. The capital adequacy ratio at 13.66% (Tier-I capital at 11.3%) is comfortable and with the government’s majority holding, capital and liquidity will not be an issue,” the brokerage has said.
Net interest margin (NIM) at 2.92% and RoA at 0.6%, are at sub-optimal levels. Normalisation of credit cost and pick up in credit growth should boost RoA and RoE going ahead, Sharekhan has further added.
“SBI’s subsidiaries are performing well. Valuations are attractive too, adjusting for subsidiary valuations of Rs. 156 per share. We retain a Buy rating on the stock with revised SOTP-based price target of Rs. 534, valuing the standalone bank at 1.3x FY23 adjusted book value,” Sharekhan has said.
The above stocks are picked from the brokerage report of Sharekhan. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article. Please consult a professional advisor.
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| Senior Citizens | Non Senior Citizens | |
|---|---|---|
| 12-months | 7.25% | 7.00% |
| 24-months | 7.50% | 7.25% |
| 36-months | 8.25% | 7.75% |
| 60-months | 8.50% | 8.00% |
We believe that the interest rates from a government owned institution is unmatched and these deposits are safe as well. The 60-months deposit for senior citizens fetch an interest rate of 8.50% which is not bad at all. The above is for cumulative and hence with the compounding the yields can go significantly higher for these deposits.
There is a periodic payment for quarterly as well as monthly payment as well.
| Senior citizens | Individuals | |
|---|---|---|
| 36-months | 8.25% | 7.75% |
| 60-months | 8.50% | 8.00% |
The interest rates on the Tamil Nadu Transport Development Finance Corporation also matches that of TN Power Finance. However, we prefer Tamil Nadu Power as there is an ability to invest in the deposits online. In any case here are the interest rates of these deposits.
| Senior citizens | –Non Senior Citizens | |
|---|---|---|
| 12-months | NA | NA |
| 24-months | 7.50% | 7.25% |
| 36-months | 8.25% | 7.75% |
| 60-months | 8.50% | 8.00% |
It is important to note that the company does have monthly and yearly option as well, where the interest rates on the monthly deposits are slightly lower than the yearly and quarterly rates. Those who are retired may well want to choose the monthly rates for investment and regular income.
We believe this is the best interest rate that investors would get from any bank or institution presently. The interest rates look unmatched and there is an online facility for Tamil Nadu Power Finance. According to the company’s website a staggering sum of Rs 34,748 crores is the value of deposits at the company, with as many as 1233017 online transactions done. As far as Tamil Nadu Transport Development is concerned it does not have facility for online transactions. This means the only option would be the send the documents across to the company.
There is another state owned entity called the Kerala Transport development Finance Corporation. They too accept deposits, but, the interest rates here are very low at around 6%. At the moment in terms of company deposits there would be no company that is offering these interest rates. Shriram City Union and the recently opened Hawkins Cookers are slightly lower than the ones mentioned above.
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| Type of fund | 3-year returns (annualized) | 5-year returns (annualized) | |
|---|---|---|---|
| Canara Robeco Bluechip Equity Fund | Largecap | 19.99% | 17.40% |
| Axis Bluechip Fund | Largecap | 18.94% | 18.01% |
| Mirae Asset Largecap | Largecap | 16.73% | 16.75% |
| Axis Small Cap Fund | Small cap | 30.76% | 23.29% |
| Parag Parekh Flexi cap | Flexi Cap | 26.70% | 23.12% |
| SBI Magnum Income Fund | Debt Fund | 9.95% | 8.85% |
| HDFC Money Market | Debt, Money Market | 6.58% | 6.62% |
The list of 5-star rated funds is very exhaustive and we have chosen only a selective. There has been no criteria in out selection, but, only based on inclusiveness from the largecap, small cap, flexi cap and debt funds. We have just picked the 5-star rated funds from across categories from the ratings of Value Research and as indicated before the list is not inclusive of all 5-star rated funds from Value Research. It is not possible to include every fund and maybe in the future articles, we could cover them category wise.
With the Sensex on Friday hitting a new historic high of 59,732points, one wonders whether it makes sense to buy into equity even though it is SIP. There was a time one year back if you started an SIP you would have been doing well. To buy now at such high net asset value levels hardly makes sense. Advocates argue that SIPs are the best way to hedge risk, as you can average out should the market fall. That maybe partially true, but, if the markets keep falling for the next six months, you have been averaging out consistently at higher prices. If the markets can consistently be rising over the last 12-months, they can fall too.
In any case, we are advising caution to investors and even if you can start debt SIPs and get nominal returns, you can switch later to equity mutual funds, should there maybe a sharp fall in the markets.
With the Sensex trading at a 23% premium to long term averages in terms of price to earnings multiples, the markets are expensive. In any case, we have provided investors with the options to chose from debt and equity, should they consider to go through the SIP route.
The rating accorded to mutual funds are based on various parameters, including performance, liquidity etc. The mutual funds that have performed during a certain time in the past is not a guarantee of future performance. Note poor rated mutual funds may also perform well in case the market mood turns positive or the stocks or other securities invested into are performing good. Investing in stocks equity mutual funds is risky, we are not endorsing any funds. Greynium Information Technologies, the author and Value Research are not responsible for losses incurred based on the article.
GoodReturns.in
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Tamil Nadu Transport Development Finance Corporation Limited (TTDFC), is a wholly-owned non-banking finance company of the Government of Tamil Nadu. This government-owned company offers two types of attractive deposit schemes to the investors such as Period Interest Payment Scheme (PIPS) and Money Multiplier Scheme (MMS). Interest is paid monthly, quarterly, or yearly under PIPS, and the minimum deposit amount approved is Rs.50,000/-. Alternatively, under the Money Multiplier Scheme (MMS), interest is compounded quarterly at the prevailing rate and the minimum amount of money that can be deposited is Rs.50000.
TTDFC’s website is straightforward and easy to browse for investors. All operations, from opening a deposit account to withdrawing funds, are undertaken electronically. The TTDFC fixed deposit offers multiple benefits such as loan facility is available up to 75% of the deposit amount, nomination facilities are available subject to the provisions of the RBI, renewal of deposits, primary / joint account opening option, repayment of deposits on maturity, premature withdrawal option and much more.
After three months have passed after the deposit, no premature withdrawals are permitted. Premature withdrawals made after three months but before the end of the six-month period, will not be charged any interest. Premature withdrawals after 6 months will be charged 2% less interest than the rate for a 12-month of deposit. In the event of a premature withdrawal after 12 months, interest will be paid at a rate that is 1% lower than the rate at the maturity date. The deposit amount shall be repaid prematurely to the surviving depositor, in case of death of the primary account holder. If the deposit is requested to be closed prematurely, the depositors must provide at least 1-week prior notice, according to the company’s terms & conditions policy.
With effect from 18.01.2021, interest rates on fixed deposit schemes of Tamil Nadu Transport Development Finance Corporation Limited are in force. Below are the most recent interest rates on the Period Interest Payment Scheme and Money Multiplier Scheme of the company.
Scheme – I PERIODIC INTEREST PAYMENT SCHEME
| Others | In % | In % | In % | Senior Citizen | In % | In % |
|---|---|---|---|---|---|---|
| Period | Monthly | Quarterly | Annually | Monthly (%) | Quarterly (%) | Annually (%) |
| 24 | – | 7.25% | – | – | 7.50% | – |
| 36,48 | 7.75% | 7.75% | 7.98% | 8.25% | 8.25% | 8.51% |
| 60 | 8.00% | 8.00% | 8.24% | 8.50% | 8.50% | 8.77% |
| Source: https://www.tdfc.in |
Money Multiplier Scheme (MMS)
| Others | Senior Citizen | |||
|---|---|---|---|---|
| Period (Months) | Basic Rate P.A (%) | Effective Yield P.A (%) | Basic Rate P.A (%) | Effective Yield P.A (%) |
| 12 | 7 | 7.19 | 7.25 | 7.45 |
| 24 | 7.25 | 7.73 | 7.5 | 8.01 |
| 36 | 7.75 | 8.63 | 8.25 | 9.25 |
| 48 | 7.75 | 8.99 | 8.25 | 9.66 |
| 60 | 8 | 9.72 | 8.5 | 10.46 |
| Source: https://www.tdfc.in |
As the Transport Development Finance Corporation Limited (TTDFC), is wholly owned by the Government of Tamil Nadu, the risk of your deposit is thus minimized. And apart from the deposit safety, the corporation is also promising an interest rate of 8% in the long-term and even a pretty good rate of 7% in the short term which is a maturity period of 12 months.
In the current scenario where leading banks such as SBI, Axis Bank, HDFC Bank, ICICI Bank are offering an interest rate around 5.30% to 5.40%, investing in the fixed deposit scheme of TTDFC can be a smart move. The interest rates of the company are uncomparable as of now with any other banks, even small finance banks. Interest rates of both short-term and long-term deposits of TTDFC are very attractive, but here we suggest investors invest for short-term to counter interest rate risk against their deposit.
The reason behind my take is, currently all the major banks are offering low-interest rates due to record low key policy rates of RBI. And if the economy climbs in the near future and interest rates go up, then you will not get the benefit of higher interest rates, as you had locked in your deposit at the contracted rates. By investing for the short term you would not only avoid interest risk but also interest penalty on premature withdrawal on long-term deposits.
Apart from this risk, investors should also keep their eyes on the rising inflation which may give them returns less than the rate of inflation, if they are in the tax bracket of 30 per cent. So to earn higher returns from your FDs at TTDFC, it is better to invest for short term, and if investing for long-term then diversification across secure debt instruments or equity funds is a must to beat inflation resulting to earn risk-adjusted returns.
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