My income is Rs 46,000 per month. My risk profile is moderate. I have chosen these SIP schemes:ICICI Prudential Value Discovery Fund: Rs 3,000 (Started in Jan 2017)Aditya Birla Sun Life Tax Relief 96: Rs 2,000 (Started in Jan 2019)SBI Small Cap Fund: Rs 1,000 (Started in Jan 2019)PPF account: Rs 1,000 per monthLIC of Rs 24,000 yearlyMy investment horizon is seven to 10 years. I want to know how is my portfolio? Should I continue to invest in ICICI Prudential Value Discovery Fund?--Shaurya Subala If your risk profile is moderate, you are supposed to invest mostly in multi cap mutual funds. You may also add large cap mutual funds if you want to diversify and reduce the overall risk in the portfolio. You are currently investing in a value-oriented scheme, tax saving scheme, small cap scheme. Firstly, small cap schemes are not in line with your risk profile. They are meant for aggressive investors with a high tolerance for risk and volatility. ICICI Prudential Value Discovery Fund is a … [Read more...] about Should I continue to invest in ICICI Prudential Value Discovery Fund?
The pan-India implementation of the contentious National Register of Citizens (NRC) is next on Amit Shah's list. The Union home minister pulled no punches when he said the exercise will weed out "all illegal infiltrators from India", a stance the BJP government has maintained since it came to power for the second time. In Assam, the Supreme Court mandated and monitored exercise caused widespread disruption. In the state, one first had to produce documentary proof issued before March 24, 1971 – like the 1951 NRC or electoral rolls up to March 24, 1971 – to prove that one’s ancestors were residing in India before that date. The next step was producing documents for oneself to establish relationship with those ancestors. That could be a tough ask in a country with a poor documentation culture and crores of people with meagre financial resources. How did Assam do it? In Assam, one had to apply for inclusion. Whether or not will there be a similar option for a … [Read more...] about Is a pan-India NRC possible? The lesson from Assam
MUMBAI: State-run Bank of India Thursday said it has increased its marginal cost of funds based lending rate (MCLR) by 0.05 per cent for overnight and one month tenure, effective October 10. The new overnight rate stands at 8.05 per cent, while the one month rate has been revised to 8.15 per cent, the bank said in a statement. The lender left the MCLR rates for three, six and 12 months loan tenures unchanged at 8.30 per cent, 8.50 per cent and 8.60 per cent, respectively. Many state-run lenders have recently increased their MCLRs, with country's largest lender State Bank of India raising it by 0.05 per cent for various tenures effective October 1. It's one year MCLR currently stands at 8.50 per cent, against 8.40 per cent previously. Punjab National Bank also increased its benchmark lending rates or MCLR last week for the short-term loans by up to 0.2 per cent. Oriental Bank of Commerce (OBC) raised it's MCLR by 0.10 per cent for various tenures with effect from Thursday. Another … [Read more...] about Bank of India raises MCLR rates by 0.05% on two tenures
New Delhi: IDBI Bank will sell up to 49 per cent stake in its subsidiaries IDBI Capital Markets & Securities Ltd (ICMS) and IDBI Intech Ltd (IIL). The board of directors of IDBI Bank has given in-principle approval to divest or dilute IDBI Bank's stake in its subsidiaries namely IDBI Capital Markets & Securities Ltd (ICMS) and IDBI Intech Limited (IIL) to the extent of 49 per cent to the prospective investors, the private sector lender said in a regulatory filing. IDBI Bank said it will retain controlling stake in the subsidiaries with itself. Shares of IDBI Bank closed at Rs 33.50 on the BSE, down by 1.90 per cent from the previous close. … [Read more...] about IDBI Bank to sell up to 49% stakes in 2 subsidiaries
NEW DELHI: Agriculture minister Narendra Singh Tomar on Friday announced the roll out of the newly introduced farmers’ pension scheme – Pradhan Mantri Kisan Maan Dhan Yojana (PM-KMY) – by enrolling 418 farmers on the first day. “The mega launch of this scheme will be done later by Prime Minister Narendra Modi. We expect to enroll 10 million farmers in the first year,” he said. The government has budgeted Rs 10,774.50 crore for implementation of the scheme for the first three years starting this fiscal. Tomar said that the scheme, which is voluntary and contributory in nature, entitles beneficiary a monthly pension of Rs 3,000 on attaining the age of 60 years. “This scheme is open for small and marginal farmers in the age group of 18-40 years. Farmers will have to make a monthly contribution between Rs 55 and Rs 200, depending on the age of entry, in the pension fund managed by the state-owned LIC. The central government will also make an equal … [Read more...] about Centre starts registration for Pradhan Mantri Kisan Maan-Dhan Yojana