List Of Mutual Fund NFOs Currently Open For Subscription

Personal Finance

[ad_1]

Read More/Less


1. Mirae Asset Hang Seng Tech ETF FoF:

The scheme aims to offer long term capital appreciation by investing primarily in units of Mirae Asset Hang Seng Tech ETF. The open ended scheme offer period is between November 17, 2021 and December 1, 2021. Minimum subscriptoon amount under the scheme is Rs. 5000 and in multiples of Rs. 1/- thereafter.

Post the NFO period, being an open ended scheme, the scheme shall be open for fresh subscriptions beginning December 9, 2021 at the NAV prevalent at that time. Note during the NFO period, the NAV shall remain Rs. 10.

Among its peers, Motilal Oswal NASDAQ 100 ETF commands the largest AUM of Rs. 5700 crore and its returns have also been promising with 5-year return of 29.13%.

2. Nippon India Taiwan Equity Fund:

2. Nippon India Taiwan Equity Fund:

This open ended equity scheme from the stable of Nippon India AMC follows a Taiwan focused theme. The fund is one of its kind diversification opportunity into Taiwan which is among world leaders in science and tech and hence commands the second-highest weight in the MSCI Emerging Markets Index and ranked 8th in IMD World Digital Competitiveness Ranking, 2021.

The NFO which opened on November 22 will close on December 6, 2021.

Minimum application amount : Rs. 500 & in multiples of Re. 1 thereafter; while the benchmark is Benchmark is Taiwan Capitalization Weighted Stock Index (TAIEX).

3. Axis Multicap fund:

3. Axis Multicap fund:

Labelling it the #Powerpackedfund”, the scheme shall invests across market capitalisation and hence provide investors with exposure to large, mid and small cap stocks.

NFO period – November 26-December 10, 2021

As per the mutual fund, the investment shall be apt for those looking for capital appreciation over the long term and looking to invest in a mix of equity securities across m-cap.

Disclaimer:

Disclaimer:

The above mentioned NFOs are not a call for investment in them but as is being seen NFOs are raking in huge money and providing a boost to mutual fund investment landscape as a whole. So, here is collated information on all the NFOs that are currently open.

GoodReturns.in



[ad_2]

CLICK HERE TO APPLY

Leave a comment

No immediate plan for IPO, says CoinDCX

Banking & Finance

[ad_1]

Read More/Less


Cryptocurrency exchange CoinDCX has said there is no immediate plan in the foreseeable future to announce an initial public offering.

“We would like to reiterate that as any growing company aspires to take an IPO route in due course. We at CoinDCX also have similar aspirations. Having said that, there is no definitive route or clause as to when we would go ahead with this plan,” it said in a statement on Monday.

It further said that a well-defined regulatory process will benefit not only the company but the entire ecosystem in their growth strategy.

CoinDCX is the country’s first crypto unicorn.

[ad_2]

CLICK HERE TO APPLY

Leave a comment ,

NBFCs assets to improve on tailwinds, says Crisil Ratings

Banking & Finance

[ad_1]

Read More/Less


Assets under management (AUM) of non-banking financial companies (NBFCs) is set to grow 8-10 per cent to about ₹30-lakh crore in FY2023, riding on two tailwinds — improving economic activity, and strengthened balance sheet buffers, according to CRISIL Ratings.

This compares with an estimated growth of 6-8 per cent this fiscal (to about ₹27 -akh crore) and 2 per cent last fiscal (about ₹25-lakh crore AUM outstanding).

However, the credit rating agency cautioned that NBFCs face three headwinds — competition from Banks, expected increase in gross non-performing assets and funding access, which is yet to fully normalise.

The agency noted that intensifying competition from banks, flush with liquidity, that have sharpened focus on retail loans.

It assessed that GNPAs are expected to increase, mostly because of the revision in recognition norms and, to some extent, due to slippages from the restructured book.

Gurpreet Chhatwal, Managing Director, CRISIL Ratings Ltd, said: “Many NBFCs have built higher liquidity, capital and provisioning buffers in the recent past.

“That, combined with improving economic activity, puts them in a comfortable position to capitalise on growth opportunities. However, competition from banks will intensify.”

Asset quality worries have also manifested due to recent regulatory clarifications, and uncertainty over the performance of the restructured book.

While home loans and gold loans will be the least impacted, unsecured, and micro, small and medium enterprises loans will bear the brunt.

Chhatwal observed that net-net, growth will be driven by NBFCs with strong parentage and better funding access in the two largest segments — home loans and vehicle finance.

CRISIL noted that organic consolidation is also underway with larger NBFCs gaining share.

In three fiscals through 2021, the market share of the top 5 NBFCs has risen 600 basis points (bps) to 46 per cent.

The agency said the ability to identify niches that cater to the relatively difficult-to-address customer segments and asset classes will fuel long-term growth for the sector.

CRISIL expects retail loans to see reasonably broad-based growth in the current and next fiscals supported by pick-up in demand and consequently underlying sales.

Gold, home and unsecured loans should clock the fastest growth rates. On the other hand, wholesale credit would continue to degrow as platforms such as alternate investment funds gain currency.

Stressed assets

The agency expects GNPAs to increase by 25-300 basis points (bps) based on asset class because of the new recognition norm.

However, the increase in GNPAs because of the revised recognition norms will be largely an accounting impact because, given the improving economy, the credit profiles of borrowers are not expected to deteriorate. Consequently, ultimate credit losses are not expected to change significantly.

CRISIL said the performance of the restructured book is a key monitorable.

The agency noted that while there has been across-the-segment improvement in the monthly collection efficiency ratio (MCR) of NBFCs for the quarter ended September 2021, the quantum of restructuring done under the RBI Resolution Framework 2.0 is more than last year.

Since this mostly involved offering moratorium, the performance of this book after moratorium is monitorable.

Overall, fragile assets (GNPAs + slippages due to the impact of regulatory norms and from the restructured book) are seen at ₹1.3-1.6 lakh crore, tantamount to 5-6 per cent of the industry’s AUM as of March 2022.

This does not factor in the impact of a third wave of Covid-19, especially the just-discovered Omicron variant, which is a risk factor.

Krishnan Sitaraman, Senior Director and Deputy Chief Ratings Officer, CRISIL Ratings Ltd, said, “While there may be apprehensions about rising reported GNPAs, additional disclosures by NBFCs around underlying delinquency profiles and collection efficiencies can help allay them.

“Those with low leverage, high liquidity and strong parentage are expected to benefit from better funding access at optimal rates. For the rest and especially mid-sized and smaller players, co-lending, securitisation, or other partnerships with banks will facilitate a funding-light business model.”

[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , ,

Cryptocurrencies yet to recover from last week’s crash

Banking & Finance

[ad_1]

Read More/Less


Bitcoin and other top crypto tokens, which are yet to completely recover from the crash last week, continue to see fluctuating price movements. Last week, the prices across tokens dropped around 15-20 per cent overnight amid panic sale by investors.

As of Monday 2:10 pm, Bitcoin was trading in green up by 3.36 per cent at ₹43.69 lakh, still down from last week’s peak of ₹47.58 lakh as seen on WazirX. Tether’s price dropped by 1.83 per cent, Sandbox gained 15.67 per cent, Shiba Inu was gained 1.63 per cent, Ethereum gained 5.02 per cent and Dogecoin was trading up by 1.72 per cent. All of them are far from last week’s peak rates.

On Monday afternoon, responding to a query in the ongoing Winter parliamentary session, Finance Minister Nirmala Sitharaman reiterated the Ministry’s stand on regulating Bitcoin, saying that the government has no proposal to recognise Bitcoin as a currency and it has not been collecting any data on any such transactions.

[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , ,

Cryptocurrency issue: No plan to use Bitcoin as currency: FM

Banking & Finance

[ad_1]

Read More/Less


The government has no plan to recognise Bitcoin as a currency in the country, Finance Minister Nirmala Sitharaman informed the Lok Sabha on Monday.

Meanwhile, in response to another question, the Finance Ministry said that Reserve Bank of India has urged the Centre to amend RBI Act 1934 to widen the definition of bank notes to include digital currency. This will facilitate introduction of Central Bank of Digital Currency (CBDC).

Crypto Bill

When asked whether the government has any proposal to recognise Bitcoin as currency, Sitharaman said in written response ‘no sir.’ The response comes at a time when the government is planning to introduce a Bill in the ongoing session to regulate cryptos in India.

In response to another question, Minister of State in the Finance Ministry, Pankaj Chaudhury, said in a written reply: “The government has received a proposal from Reserve Bank of India (RBI) in October, 2021 for amendment to the Reserve Bank of India Act, 1934 to enhance the scope of the definition of ‘bank note’ to include currency in digital form.”

It is believed that the RBI’s request will be incorporated in ‘The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’, proposed to be introduced during the current session. According to Lok Sabha Bulletin, purport of the Bill is “to create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India”.

Cryptocurrency, CBDC and the RBI Act

Further, he mentioned that Central Bank Digital Currency (CBDC) is introduced by a cntral bank. The RBI has been examining use cases and working out a phased implementation strategy for introduction of CBDC with little or no disruption.

“Introduction of CBDC has the potential to provide significant benefits, such as reduced dependency on cash, higher seigniorage due to lower transaction costs, reduced settlement risk. Introduction of CBDC would also possibly lead to a more robust, efficient, trusted, regulated and legal tender-based payments option,” he said while admitting that there are also associated risks that need to be carefully evaluated against the potential benefits.

The RBI has already indicated about doing a pilot of its CBDC in the first quarter of the next fiscal year. The CBDC could have a much larger impact on the financial ecosystem, according to industry experts.

While many see CBDCs as a legalised replacement of cryptocurrencies, in reality, CBDCs could just be a digital replica of the physical cash in circulation. According to a 2021 BIS survey, quoted in the RBI report, 86 per cent of the central banks surveyed are actively researching the potential for CBDCs, 60 per cent were experimenting with the technology, and 14 per cent were deploying pilot projects.

RBI may pilot digital currency in Q1 of FY23

A major use case for CBDCs will likely be in the insurance and lending space and also for managing non-performing assets. Using digital currencies will bring in more transparency and traceability across levels for the financial services sector, according to experts.

[ad_2]

CLICK HERE TO APPLY

Leave a comment , , ,

Why did RBI deny banking licences to corporates again?, BFSI News, ET BFSI

Banking & Finance

[ad_1]

Read More/Less


The Reserve Bank of India has disappointed big corporates that are looking to enter the banking sector, as it kept in abeyance the proposal of its internal working group to allow large industrial houses in the sector.

RBI said it had accepted 21 recommendations with some modifications of the 33 proposed by the committee in November last year. The most contentious proposal by the five-member panel was to allow large corporate houses as promoters of banks after amendments to the Banking Regulation Act. Experts pointed that RBI would face challenges in supervising non-financial sector entities, and supervisory resources could be further strained.

Former RBI governor Raghuram Rajan and deputy governor Viral Acharya were foremost among the experts who had opposed the proposed move last year.

“The history of such connected lending is invariably disastrous – how can the bank make good loans when it is owned by the borrower? Even an independent regulator, with all the information in the world, finds it difficult to be in every nook and corner of the financial system to stop poor lending,” they said in a joint article. In August 2011, the then RBI Governor D. Subbarao said in one of his speeches, “by far the biggest apprehension is about self-dealing — that companies will use the bank as a private pool of readily available funds.”

The argument against

While corporates can bring in capital, business experience and managerial competence, the biggest risk of allowing industrial houses to promote banks is the conflict of interest. A bank is an intermediary which channels public deposits to borrowers. It was not easy for supervisors to prevent or detect self-dealing or connected lending as banks could hide connected party or related party lending behind complex company structures and subsidiaries or through lending to suppliers of promoters and their group companies. RBI also has had an unsatisfactory record in its role as the banking supervisor. Recent governance failures in private banks can be traced to a lack of independence within the board.

The current status

Individuals and companies, directly or indirectly connected with large industrial houses, can participate in the equity of a new private sector bank up to 10 per cent but without controlling interest in the bank. Such shareholders are not allowed to have any Director on the board of the bank on account of shareholder agreements or otherwise, according to the RBI Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector issued in August 2016. A group with assets of Rs 5,000 crore or more with the non-financial business of the group accounting for 40 per cent or more in terms of total assets or in terms of gross income, will be treated as a large industrial house, the RBI said.

Tech disruption

The real transformation in banking is coming from tech companies. A core function of traditional banking, payments, has already been disrupted by fintech. Now, Big Tech is pushing the envelope in financial intermediation. Data is central to the digital economy. It’s given Big Tech an opening, leading to the so-called DNA (data-network-activities feedback loop) advantage. Navigating the risks here is the emerging regulatory challenge. In this situation, there’s no pressing need to add another risk in terms of allowing industrial houses to promote banks.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , , ,

SBI enters into co-lending arrangement with Capri Global Capital

Banking & Finance

[ad_1]

Read More/Less


With an aim to boost MSME lending, the country’s largest bank, the State Bank of India (SBI), has entered into a co-lending arrangement with Capri Global Capital (CGCL). This association will offer strategic and customised financing solutions to the underserved MSMEs of the country in line with RBI guidelines.

Dinesh Khara, Chairman, SBI said, “Banks are the backbone of India’s economic growth and as the country pivots to sustainable growth, the banking sector will have to accelerate MSME lending. To improve the credit to the underserved and unserved, we are happy to associate with Capri Global Capital. We believe this collaboration will provide the nimble footedness of NBFC and quality credit to the right set of the population which will further deepen lending to MSMEs through the last mile connect. We are also confident that, in days to come, co-lending can generate employment opportunities through MSMEs which can translate into the country’s GDP growth.”

The RBI had issued guidelines on the co-lending scheme for banks and NBFCs for priority sector lending to improve the flow of credit to unserved and underserved sectors of the economy and to make funds available to borrowers at an affordable cost. The co-lending model aims to give the borrower the best interest rate and better reach.

[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , ,

RBI gives approval to LIC to hike stake in Kotak Bank to 9.99%

Banking & Finance

[ad_1]

Read More/Less


The Reserve Bank of India has given its approval to Life Insurance Corporation of India to raise its stake in Kotak Mahindra Bank to 9.99 per cent.

“Kotak Mahindra Bank has received an intimation from LIC stating that the RBI had granted its approval to LIC for increasing its holding in the Bank up to 9.99 per cent of the paid-up equity share capital of Bank, subject to compliance with the provisions of the Master Direction on ‘prior approval for acquisition of shares or voting rights in private sector banks’ dated November 19, 2015, and Master Direction on ‘ownership in private sector banks’ dated May 12, 2016, provisions of the applicable regulations issued by the Securities and Exchange Board of India, provisions of the Foreign Exchange Management Act, 1999 and any other guidelines/regulations and statutes, as applicable,”the private sector lender said in a stock exchange filing on Monday.

The approval is valid for a period of one year, it further said.

LIC currently holds 4.96 per cent stake in the bank as of September 30.

[ad_2]

CLICK HERE TO APPLY

Leave a comment , , ,

ICICI Bank Revises Interest Rates On FD: Check Latest Rates Here

Personal Finance

[ad_1]

Read More/Less


ICICI Bank FD Rates

With effect from 16th November 2021, ICICI Bank has revised its interest rates on domestic term deposits of less than Rs 2 Cr maturing in 7 days to 10 years. Following the most recent revision, the general public will now get the following interest rates on their fixed deposits.

Tenure Interest rates (p.a.) for deposits of less than Rs 2 Cr. Interest rates (p.a.) for deposits of Rs. 2 Cr and above less than Rs. 5 Cr
7 days to 14 days 2.50% 2.75%
15 days to 29 days 2.50% 2.75%
30 days to 45 days 3.00% 3.00%
46 days to 60 days 3.00% 3.00%
61 days to 90 days 3.00% 3.15%
91 days to 120 days 3.50% 3.15%
121 days to 150 days 3.50% 3.15%
151 days to 184 days 3.50% 3.15%
185 days to 210 days 4.40% 3.65%
211 days to 270 days 4.40% 3.65%
271 days to 289 days 4.40% 3.90%
290 days to less than 1 year 4.40% 3.90%
1 year to 389 days 4.90% 4.05%
390 days to 4.90% 4.05%
15 months to 4.90% 4.15%
18 months to 2 years 5.00% 4.25%
2 years 1 day to 3 years 5.15% 4.50%
3 years 1 day to 5 years 5.35% 4.70%
5 years 1 day to 10 years 5.50% 4.70%
5 Years (80C FD) 5.35% NA
Source: Bank Website. W.e.f. November 16, 2021 W.e.f. November 29, 2021

ICICI Bank FD Rates For Senior Citizens

ICICI Bank FD Rates For Senior Citizens

Senior citizens will continue to get an additional rate of 0.50% over and above the card rate applicable to the general public across all tenors. On the other hand, ICICI Bank also offers a special fixed deposit scheme to senior citizens named ICICI Bank Golden Years FD. Under this scheme, senior citizens would get an additional interest rate of 0.30% per annum on their deposits maturing in 5 years and up to 10 years.

The effective interest rate under the scheme would be an additional 0.30 percent per annum over and above the prevailing additional rate of 0.50 percent per annum on single deposits of less than Rs. 2 crores made by a resident Indian senior citizen for a limited time till 8th April 2022. Here are the latest interest rates on fixed deposits of ICICI Bank for senior citizens.

Tenure Interest rates (p.a.) for deposits of less than Rs 2 Cr. Interest rates (p.a.) for deposits of Rs. 2 Cr and above less than Rs. 5 Cr
7 days to 14 days 3.00% 2.75%
15 days to 29 days 3.00% 2.75%
30 days to 45 days 3.50% 3.00%
46 days to 60 days 3.50% 3.00%
61 days to 90 days 3.50% 3.15%
91 days to 120 days 4.00% 3.15%
121 days to 150 days 4.00% 3.15%
151 days to 184 days 4.00% 3.15%
185 days to 210 days 4.90% 3.65%
211 days to 270 days 4.90% 3.65%
271 days to 289 days 4.90% 3.90%
290 days to less than 1 year 4.90% 3.90%
1 year to 389 days 5.40% 4.05%
390 days to 5.40% 4.05%
15 months to 5.40% 4.15%
18 months to 2 years 5.50% 4.25%
2 years 1 day to 3 years 5.65% 4.50%
3 years 1 day to 5 years 5.85% 4.70%
5 years 1 day to 10 years 6.30% 4.70%
5 Years (80C FD) 5.85% NA
Source: Bank Website. W.e.f. November 16, 2021 W.e.f. November 29, 2021

ICICI Bank NRO & NRE Deposits Interest Rates

ICICI Bank NRO & NRE Deposits Interest Rates

ICICI Bank has also updated its interest rates on domestic, NRO, and NRE deposits of Rs 5 crore and above with a premature withdrawal facility, which entered into force on November 29, 2021.

Tenure Rs 5 Cr to Rs 5.10 Cr to Rs 24.90 Cr to Rs 25 Cr to Rs 100 Cr to Rs 250 Cr to More than Rs 500 Cr
7 days to 14 days 2.75 2.75 2.75 2.75 2.75 2.75 2.75
15 days to 29 days 2.75 2.75 2.75 2.75 2.75 2.75 2.75
30 days to 45 days 2.75 3 2.75 3 3 3 3
46 days to 60 days 2.75 3 2.75 3 3 3 3
61 days to 90 days 2.85 3.15 2.85 3.15 3.15 3.15 3.15
91 days to 120 days 2.85 3.15 2.85 3.15 3.15 3.15 3.15
121 days to 150 days 2.85 3.15 2.85 3.15 3.15 3.15 3.15
151 days to 184 days 2.85 3.15 2.85 3.15 3.15 3.15 3.15
185 days to 210 days 3 3.65 3 3.65 3.65 3.65 3.65
211 days to 240 days 3 3.65 3 3.65 3.65 3.65 3.65
241 days to 270 days 3 3.65 3 3.65 3.65 3.65 3.65
271 days to 300 days 3 3.9 3 3.9 3.9 3.9 3.9
301 days to 330 days 3 3.9 3 3.9 3.9 3.9 3.9
331 days to 3 3.9 3 3.9 3.9 3.9 3.9
1 year to 389 days 3.25 4.05 3.25 4.05 4.05 4.05 4.05
390 days to 3.25 4.05 3.25 4.05 4.05 4.05 4.05
15 months to 3.25 4.15 3.25 4.15 4.15 4.15 4.15
18 months to 2 years 3.25 4.25 3.25 4.25 4.25 4.25 4.25
2 years 1 day to 3 years 3.25 4.5 3.25 4.5 4.5 4.5 4.5
3 years 1 day to 5 years 3.25 4.7 3.25 4.7 4.7 4.7 4.7
5 years 1 day to 10 years 3.25 4.7 3.25 4.7 4.7 4.7 4.7
Rate of Interest (% p.a.) w.e.f November 29, 2021



[ad_2]

CLICK HERE TO APPLY

Leave a comment

SBI enters co-lending agreement with Capri Global Capital Ltd, BFSI News, ET BFSI

Personal Finance

[ad_1]

Read More/Less


State Bank of India has entered into a co-lending agreement with Capri Global Capital Ltd (CGCL) to boost MSME lending. The two parties have signed a Memorandum of Understanding to create multiple co-lending opportunities for the financial empowerment of the MSMEs, which aims to provide further impetus to financial inclusion in the country, the bank said in a release.

Dinesh Khara, Chairman, SBI said, “To improve the credit to the underserved and unserved, we are happy to associate with Capri Global Capital. We believe this collaboration will provide the nimble footedness of NBFC and quality credit to the right set of the population which will further deepen lending to MSMEs through the last mile connect.”

RBI had issued guidelines on the co-lending scheme for banks and NBFCs for priority sector lending to improve the flow of credit to unserved and underserved sectors of the economy, and make funds available to borrowers at an affordable cost.

Follow and connect with us on , Facebook, Linkedin



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , , , ,
1 … 25 26 27 28 29 … 16,281