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Best Mutual Funds to Invest in India amidst Volatility

22Oct By PriyankaNo Comments

Market

Best Mutual Funds to Invest in India amidst Volatility

While there are many investment platforms online that allow investing in mutual funds within minutes, the question about which mutual fund to invest in persists. To help you decide, we have compiled a reviewed the best mutual funds to invest based on their past performance, that you can consider. Axis Midcap Fund ReviewThe Axis Midcap Fund is rated moderately high risk but has a lower risk compared to the benchmark. The fund has managed huge outperformance relative to the index and the category average as compared to peers. This is due to the fund’s tilt towards large cap and a strong emphasis on quality mid-caps while avoiding small-cap. 1 Year3 Year5 yearAxis Midcap Direct Plan Growth15.0%13.1%13.4%Category Average0.6%6.3%NA Note: As on October 16, 2019; Category...

9Aug By Gauri SinghNo Comments

INDIA

This is How Indian Government Looting The Money of Common People in the name of AMB

It was yesterday morning and the first text message that greeted me was from one of India's leading private bank. My bank account was in that leading bank and the SMS was, "UPDATE: Balance in A/c XX1628 has gone below minimum limit of INR 5,000.00. Yesterday's balance: ...... Check A/c statements on the MobileBanking App" Seeing the remaining amount, I thought that how the balance is so low? Well, after login through net banking I found that it was a penalty amount called "Account Minimum Balance (AMB)" that the Indian banks, nowadays, are collecting from the common of India for the non-maintenance of minimum account balance. However, the shocking part is that my money was deducted despite maintaining the minimum account balance in the first week of the month. When enquired a...

This Indian Bank Becomes First to Use Facebook Messenger For Mutual Fund Transactions

11Jul By NitishNo Comments

Market

This Indian Bank Becomes First to Use Facebook Messenger For Mutual Fund Transactions

India's largest private sector bank HDFC becomes the first Indian bank which offer mutual fund transactions through Facebook Messenger. HDFC securities, a subsidiary of HDFC Bank launch a theme called "The Pace of Innovation" which is structured to innovate and provide intuitive and relevant digital solutions to customers and this effort, is in line with the vision. This particular feature, apart from mutual fund investments, facilitates a quick overview of total portfolio holding, getting the latest stock quotes and opening an account. ALSO READ: After Tata Group, HDFC Crosses Market Cap of Rs 10 Trillion Here's a guide to how this works: -Go to Facebook Messenger and search for hdfcsec.Arya -Can open a trading account -Post login, one can complete MF transactio...

11Jul By Gauri SinghNo Comments

Market

After Tata Group, HDFC Crosses Market Cap of Rs 10 Trillion

HDFC (Housing Development Finance Corporation), which is led by Deepak Parekh has crossed the milestone of market capitalization amounting to Rs 10 trillion. This has marked the company as the second Indian business house after the Tata group to achieve this milestone. This news comes a few days after Deepak Parekh announced his views regarding the succession plan. The company at present has four listed ventures, that are Housing Finance Development Corp. Ltd, HDFC Bank Ltd, life insurance firm HDFC Standard Life Ltd and Gruh Finance Ltd. Whereas, the Tata Group has moreover 30 firms listed on the stock exchange. At the close of trade, the HDFC’s market valuation was at Rs 5,59,633.53 crore, HDFC Ltd was Rs 3,26,776.81 crore, HDFC Standard Life Insurance Company at Rs 95,936.72 crore...

HDFC’s Deepak Parekh Speaks Publicly About Succession Planning

5Jul By Gauri SinghNo Comments

BUSINESS

HDFC’s Deepak Parekh Speaks Publicly About Succession Planning

Deepak Parekh, the Chairman of Housing Development Finance Corporation Ltd. (HDFC) stated in his annual letter to the shareholders that now, he will give utmost importance to succession planning and that will be his priority. The main purpose is to ensure a smooth transition within the HDFC group. While this session, Parekh claimed that the succession plan would take around 18-24 months for preparation. He also stated that the boards of the respective companies will consider both internal and external sources of recruitment for filling the positions. “Personally, the task of ensuring frictionless transition is and will be on the top of my mind. That said, it is not as if there will be an announcement right away,” Parekh said. “As passionate and energetic as so...

28Jun By Press Trust of IndiaNo Comments

Market

HDFC Mutual Fund Gets Sebi Nod For IPO

HDFC Asset Management Company, the country's largest mutual fund firm, has received Sebi's go-ahead to float an initial public offer. The company had filed draft papers with Securities and Exchange Board of India (Sebi) in March and received its "observations" on June 22, as per the latest update with the markets watchdog. Sebi's observations are necessary for any company to launch public issues like a rights issue, initial public offer (IPO) and follow-on public offer (FPO). HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments. Going by the draft papers, the proposed IPO offers up to 2.54 crore equity shares of the fund house through an offer for sale of 85.92 lakh shares by HDFC and up to 1.68 crore shares b...

4Jul By AnkitaNo Comments

ANALYSIS

The Advantages of the GST

The launch of GST has left most businesses in a tight spot. Here are 10 advantages of GST that will uplift your impressions about the biggest tax reform of India since its Independence. Price Reductions It is advantageous for companies as people will purchase more regularly due to price reductions. One Time Transaction Transaction will only occur a single time at Revenue Neutral Rate (RNR).This has been settled by both the Central and State Goods and Services Tax departments, (CGST and SGST). Employment and Exports The Central and State governments will be benefitted by GST as it is set to increase industrial activities, exports and employment opportunities. Unified Tax GST makes the revenue process less complicated. It will b...

HDFC Bank Launches Chatbot Eva For Customer Services

7Mar By AnkitaNo Comments

News

HDFC Bank Launches Chatbot Eva For Customer Services

HDFC Bank announced the launch of an electronic virtual assistant (EVA), an artificial intelligence-driven chatbot, for customer services. Eva is India's first AI-based banking chatbot and can answer millions of customer queries across multiple channels instantly, HDFC Bank said in a statement. Eva can assimilate knowledge from thousands of sources and provide answers in simple language in less than 0.4 seconds, it said. "Within the first few days of its launch, Eva has answered over 1 lakh queries from thousands of customers from 17 countries across the globe," it claimed. With the launch of Eva, it said, bank's customers can get information on its products and services instantaneously and it also becomes smarter as it learns through its customer interactions. Going forward, E...