22k market news

Fincare SFB and AU Small Finance Bank (AU SFB) are both going to merge into a single bank. The merger was announced on October 29, 2023, and is subject to regulatory approvals. If the merger is approved, it is expected to be completed in February 2024. Bank merge FINCARE SFB,(AU SFB) The merger will create a larger and more diversified Small finance bank with a stronger presence in both northern and southern India. It will also give the merged bank a stronger position in the microfinance segment. The share exchange ratio for the merger is 579 equity shares of AU SFB for every 2,000 equity shares of Fincare SFB. This means that shareholders of Fincare SFB will own approximately 9.9% of the merged entity. The merger is expected to benefit customers of both banks by giving them access to a wider range of products and services, as well as by improving the efficiency and competitiveness of the merged bank. Here are some of the potential benefits of the merger, Increased scale a...

The Reserve Bank of India (RBI) held 794.64 tonnes of gold as of March 31, 2023, according to the World Gold Council's (WGC) Gold Demand Trends report. This makes India the tenth-largest holder of gold reserves in the world.  Gold reserves The RBI has been increasing its gold reserves in recent years.  In FY 2022-23, the RBI purchased 34.22 tonnes of gold, up from 29.77 tonnes in FY 2021-22. This is the highest annual purchase of gold by the RBI since FY 2009-10. The RBI's gold reserves are held in two forms: physical gold and gold deposits. The physical gold is stored in domestic and overseas vaults, while the gold deposits are held with central banks and other international financial institutions. The RBI's gold reserves play an important role in the country's foreign exchange reserves. Gold is a safe-haven asset and can be used to raise foreign currency in times of need. The RBI's gold reserves also help to diversify the country's foreign exchange reserves a...

Starting January 1, 2024, all insurers in India will be required to provide their policyholders with a simplified policy information document (CIS). The CIS is designed to help policyholders understand the key features of their insurance policy in plain language, without having to wade through complex legal jargon. Insurance policy. CIS will include information such as The name and number of the policy type of policy (e.g., life, health, motor, etc.) sum insured, coverage period, exclusions and waiting periods, claims process. Policyholders can request a copy of their CIS from their insurance company at any time. It is important to read the CIS carefully and understand the coverage that you have purchased. If you have any questions, you should contact your insurance company directly. The IRDAI has mandated the introduction of the CIS in order to improve transparency in the insurance sector and make it easier for policyholders to understand their policies. The CIS is expected to be a v...

Rules for withdrawing money through credit card ATMs have been published. Do not withdraw money from credit card from ATM. It is said to cause great loss. Credit card What happens if you withdraw money from an ATM with a credit card When they run out of cash at the end of the month, or have a sudden need for cash, people often turn to their credit cards when they have no other option. Banks don't just give you credit on cards, now just like debit cards, credit cards also have a cash advance facility. Credit Card, You can withdraw money from a credit card by going to an ATM just like you can withdraw money from a debit card, but if you're worried about your credit score, read on first. Your credit score depends on many factors. In simple words, withdrawing money from an ATM with a credit card will not cause your credit score to drop. But it can definitely cause the score to drop. I mean, it doesn't have a direct impact, but some things happen, causing your...

Gold reserves play an important role in a country's economic crisis, but immediate selling of kilos of gold is difficult. Gold vs currency  How does gold reserves affect currency There are a few reasons why a country with a huge amount of gold reserves might still sell dollars to buy foreign currency or goods instead of trading gold directly: Liquidity, Gold is a relatively illiquid asset, meaning that it can be difficult to sell quickly or at a fair price. Foreign currencies and goods are much more liquid, making them easier to trade. Transparency, Trading gold can be complex and opaque, making it difficult to ensure that the country is getting a fair price and that the transaction is not fraudulent. Trading foreign currencies and goods is much more transparent and easier to audit. Diversification,  Holding a diversified portfolio of assets is a good way to red...

The RBI has ordered the banks to provide the new announcement of the bank deposit, the RBI should provide all the Term Deposit up to Rs 1 crore. To date, the facility has been provided for the amount of Term Deposit up to Rs 15 lakh. RBI UPDATE NEWS In its statement, the Reserve Bank said in its statement: The bank has decided to allow banks to allow the banks to obtain a deposit of up to Rs 1 crore in advance. These orders also apply to the deposits of Indians living foreign. All banks and co -operative banks must follow these orders. All these orders come into effect immediately. Has said so. Does not make the phone The RBI has presented a draft plan to those who do not repay the loan within the due time, before 8 in the morning and after 7 in the evening, the financial institutions that have given the loan or the loan recovery agents should not call. The Reserve Bank has informed that the public can express their views on the matter till November 28.

Are you a monthly PF contributor? If so then there is a very good news for you. A jackpot notification is not coming soon, for all those who are members of Employees Provident Fund Organization (EPFO). In a few days, the central government will credit the interest money in the accounts of the PF employees. This will be a very happy news for the employees. EPFO UPDATE  Epfo jackpot news good news for employees today News of the EPFO ​​update has come that the government will deposit EPF interest money in the accounts of around 6 crore employees, as per which the government has announced an interest rate of 8.15% for the financial year 2023-24. This move is welcome and many employees will benefit. The EPF interest rate is one of the highest offered by any government savings scheme. It is also exempt from income tax. This makes EPF a very attractive investment option for employees. Government has decided to deposit EPF interest money in employees' accounts which is...

RBI Update: Reserve Bank of India has taken a big decision keeping in mind the interest of the customers.  Credit score report  RBI took the right decision The decision has been taken by the central bank to improve customer service and complaint redressal process of lending institutions and credit reference agencies. Whenever a bank or NBFC takes a credit information report (CIR) of a person, the Central Bank has directed all credit reporting agencies to inform the person about it through SMS and email. Why did RBI take this decision? The decision has been taken by the central bank to improve the customer service and complaint redressal process of lending institutions and credit reference agencies. Nowadays, after one applies for a loan in a bank, it often happens that customers receive offers and calls for loans from other banks.   The reason behind this is that the credit reporting agency shares the credit report of the person with the banks. Ev...

Top 3 Multi Cap Mutual Funds in India These schemes beat the benchmark index returns in the last five years.  Multi-cap mutual funds  These are the funds that gave super returns Before investing in a mutual fund scheme, it is necessary to pre-weigh several factors such as the type of fund, macroeconomic factors, reputation of the fund manager and most importantly - the past returns provided by the scheme. If you are planning to invest in multi-cap mutual funds, you may want to prioritize those that have consistently given good returns over the past five years. Here we briefly list those that have managed to beat the benchmark index returns. Multi-cap funds Multi-cap mutual funds refer to mutual fund schemes that invest at least 65 percent of their assets in equity and equity-related instruments in stocks of different sectors and segments of the market. They are also known as diversified equity funds and diversification reduces the risk of overexposure to a few st...

The Reserve Bank of India (RBI) has fixed the early redemption price of Savaran Gold Bond (SGB) due on October 30, 2023 at Rs. 6,079 has been fixed. It is based on the simple average of closing price of gold for three business days viz. e., October 25-27, 2023.  RBI, Sovereign Gold Bond Investors in SGBs have an option to redeem their bonds before the fifth year from the date of issue. However, with the benefit of indexation, 20% capital gains tax is levied on the gains realized. For early redemption of SGBs, investors may contact their issuing bank or authorized broker. They have to submit redemption claim form along with original SGB certificate. The redemption proceeds will be credited to the investor's bank account within a few days. SGBs are a popular investment option for investors who want to invest in gold in a safe and convenient manner. They are a great way to diversify one's portfolio and reduce risk.

Punjab National Bank's net profit for the second quarter of the current financial year (July to September 2023) is Rs 1,756.13 crore. This is a significant increase from the net profit of Rs 411.3 crore reported in the same quarter of the previous financial year. PNB net profit this year  A statement issued by the bank said Public sector laggard Punjab National Bank (PNB) reported a 4-fold increase in net profit in the September quarter. The bank reported a net profit of Rs 1,756.13 crore in the 2nd quarter of the current financial year from last July to September. This is about 4 times more than the same quarter of the previous financial year 2022-23. At that time the net profit of the bank was Rs.411.27 crore. The increase in interest income in the September quarter due to higher interest rates contributed to this net profit growth. Interest income of the bank increased by 31 per cent to Rs 26,355 crore during the assessment quarter. It was Rs 20,154 crore a year ago...

As of August 3, 2023, a loan amount of Rs 9,152 crore has been disbursed to over 32 lakh street vendors across India through the Pradhan Mantri Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) Scheme. Street entrepreneurship loan schemes Pm SVANIDHI scheme to promote entrepreneurship This scheme was launched in June 2020 to provide collateral-free working capital loans of up to Rs 10,000 to street vendors to help them resume their businesses during the COVID-19 pandemic. The PM SVANidhi Scheme has been instrumental in helping street vendors to get back on their feet and rebuild their livelihoods. It has also helped to promote entrepreneurship and self-reliance among street vendors. The scheme has been well-received by street vendors, and the government has been extending it on a regular basis. Under this scheme, a recent study by SBI said that 43 per cent of the beneficiaries are women street vendors. Also, 44 ​​per cent of Prime Minister's Svanidi beneficiaries belong to the ...

Sensex Nifty in sharp fall in stock market last week.. Substantial rise in gold price due to volatility in stock market. Stocks vs gold market  The stock market experienced a sharp decline last week The market was also volatile as the sixth session on Thursday (October 26) marked the last day of futures and options (F&O) contracts for the October series. The S&P BSE Sensex fell 901 points, or 1.41 percent, to settle at 63,148.15, while the NSE Nifty slipped below the 18,900 level, down 64.9 points, or 1.39 percent, to close at 18,857.25. M&M, Bajaj Finance, Asian Paints were the top losers in the 50-scrip blue-chip basket. M&M, Bajaj Finance, Asian Paints and UPL were the top losers. The Nifty basket fell nearly 4-3 percent amid broad-based weakness. On the other hand, Axis Bank, Adani Ports and HCL Tech posted higher gains. Daily vist now gold price in tamilnadu Are CIE Automotive, VPRPL, MRPL stocks profitable, CIE Automotive shares can be bought a...

According to a recent report by the Central Board of Indirect Taxes and Customs (CBIC), seizures of smuggled gold in India, have increased by nearly 43 per cent in the first six months of the current financial year (2023-24). During the same period last year. It is reported that the amount of gold smuggled into the country may increase significantly. Gold  Gold smuggling is increasing day by day CBIC chairman Sanjay Kumar Aggarwal attributed the increase in seizures to several factors, including prevailing gold prices in the international and domestic markets. He also said that the customs department is working well in detecting gold smuggling. However, it is important to note that the increase in seizures does not necessarily mean that gold smuggling has increased. It is possible that the customs department will be more effective in catching smugglers. However, the 43 percent increase in gold seized is a significant cause for concern. Gold smuggling is a major economic crime, cos...

On Monday, the first trading day of the week, the stock market also fell. Following this, the BSE Sensex lost another 826 points. Stock market news  What is the reason for the stock market to face such a decline? The Indian stock market lost Rs 9.65 lakh crore in a single day on Monday, October 24, 2023. This is the biggest single-day loss in the history of the Indian stock market. Following the Israeli-Palestinian war, the situation in Middle East Asia has worsened. Also, the continuous rise in crude oil prices has caused concern among investors.  The impact is reverberating across stock markets globally. Following this, the domestic market also suffered a decline. In particular, Media, Metal, BSU Bank and Realty indices fell by 3 to 4 percent. Banking, financials, auto, IT, pharma, healthcare and oil and gas indices were down between 1 and 2 percent, brokerages said. Meanwhile, on the occasion of Dussehra, the stock market was declared a holiday on Tuesday...

RO Jewels Ltd has joined the list of penny stocks that caught the attention of investors in the stock market today. Share price of RO Jewels Ltd today fell 6.31 percent to Rs 3.65 from its previous close of Rs 3.90 this morning. Penny stocks  Just 5 rupees is enough, You can become a partner of gold jewelry company RO Jewels Ltd has joined the list of penny stocks that caught the attention of investors in the stock market today. Its share price fell 6.31% to Rs 3.65 from its previous close of Rs 3.90 this morning. Penny stocks are shares of companies that trade at a low price, typically below Rs 10. They are often considered to be risky investments, but they can also offer the potential for high returns. The company recently released its second quarter results. Out of which the company has net sales of Rs 19.87 crore, operating profit of Rs 0.35 crore and net profit of Rs 0.21 crore. According to the annual results, net sales increased by 918 percent to Rs. 506.62 c...

The stock market fell for the second day on Thursday. Following this, the BSE Sensex lost 248 points. Market capitalization fell by Rs 2.42 lakh crore in a single day. Share market news status. Domestic stock markets fell on Thursday.  Weak global cues and the ongoing earnings season weighed on market sentiment. Equity indices started the day with a gap. The market continued on a mostly downward path during the session. Some buying activity in the second half led to some recovery from earlier lows. Investor sentiment was dampened by declines in Asian and European indices. Rising tensions in the Middle East contributed to the cautious approach. Many investors reduced their exposure to the stock fearing a long-term conflict. Auto stocks advanced during the session. Metals and energy sectors faced selling pressure. Mid and small cap stocks outperformed their larger counterparts in the market. Global market cues were weak. Also, the price of crude oil has continued ...

October 18, 2023, the Indian stock market closed lower, with the Sensex and Nifty indices falling by 0.7% each. This was the third consecutive day of losses for the market. stock market status Share market news status india The attack on Gaza has caused huge repercussions. As casualties continue to emerge, it is certain that this war will not stop within that area.  US President Joe Biden's visit to Israel has also given rise to various speculations and fears. In the midst of this, our stock markets wobbled in a directionless mess and eventually ended in losses. Traders were keen to cash in on the gains made till date. In addition to this, there are other problems in our country. Banks and financial institutions pulled back our stock markets. Bajaj's two biggest companies, in particular, did not generate the expected profits. Along with that, Reliance also joined. HDFC and bank stocks also fell. If these fall, the stock market is sure to fall In the second...

5 Lakhs can be sent through bank app NBCI, no UPI required, now notification is issued that mobile number is sufficient, third party app is also a risk, if money is lost through this, the bank will not be able to ask. But the app used by the bank is reliable and the bank can be contacted immediately. Bank app, thanks freepik UPI than NBCI. Good for money transfer If you want to send up to five lakh rupees to one person, you will not need any information like bank account number, IFSC code, etc. His mobile phone number and bank name are sufficient. In order to further facilitate the existing money transfer, the National Money Transfer Corporation of India (IMPS) has brought some changes in the rules. NBCI (National Money Exchange Corporation of India) IMPS (Immediate Payment Service) releases a notification when a mobile number is used to send money up to five lakhs (INR 500,000). This is because IMPS is a high-value transaction service, and NBCI takes steps to protect use...

In order to find unaccounted black money, a new software has been introduced in the income tax department, 'e Veribi cation', which will do the budgeting. Black money recover How can Government control black money The Income Tax Department , which functions under the Union Finance Ministry, is involved in tax collection using various types of digital technology. Adopt new online registration system to regularize taxpayers and ensure fairness in accounts is in effect. Income Tax department has launched a new software called "Project Insight" to recover black money. The software was launched in March 2023 and is designed to help the department identify and track down black money transactions. The software uses data from a variety of sources, including banks, financial institutions, and government agencies, to identify suspicious activity. Project Insight has already yielded some results. In the first few months of its launch, the software helped the departm...

investing through NPS can get good returns. NPS is a market-linked investment scheme, which means that the returns are linked to the performance of the underlying assets. You can choose your asset allocation, which allows you to invest in equity, corporate bonds, government bonds, and alternative assets. NPS scheme  What is better than NPS A question that many have been asking for days is whether NPS is better or pension fund is better. Non-pensionable, salaried private sector workers know the importance of investment well. Many people worry about post-retirement expenses and how to manage them. Some people are very confused about what exactly investments are. Many people do not understand where the National Pension Scheme (NPS) and pension funds are most beneficial. NPS follows asset allocation based approach. It offers subscribers a choice of two Investment Tips – Active and Auto. You can do asset allocation as per your choice. In this, you can choose how much ...

In the last three years 16,000 thousand crores, have been invested under the SIP scheme last year. Now it has become a trusted investment of people and according to that, let's check out the top rated mutual funds with high returns. Top rated mutual fund  HDFC Large and Mid Cap Fund HDFC Large and  Mid Cap Fund is an open-ended equity mutual fund that invests in a combination of large-cap and mid-cap companies. The fund is managed by Mr. Prashant Jain, who has over 20 years of experience in the financial industry. HDFC Large and Midcap Funds is one of the mutual funds which has got 5 stars in CRISIL rating. Whereas it has also got 4 star marks by Value Research. As of September 30, the scheme managed assets worth Rs 11,810 crore. The NAV of the scheme, as on October 13, is Rs 244.67 per growth option. And the fund has the highest allocation to the financial sector, with exposure to 169 stocks across 16 sectors, followed by the automotive, technology, energy and...