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The brokerage house said a portfolio equally divided between equity and debt is optimum for investors with a moderate risk profile. The return distribution showed a low probability of negative returns, with around 54% of observations in the double-digit category, it said. from Personal Finance News-Wealth-Economic Times https://ift.tt/TZr2K7H via IFTTT

Credit institutions, including banks and NBFCs, would also be compelled to alert consumers via SMS or email when they submit information to CICs regarding their current credit default or Days Past Due (DPD). from Personal Finance News-Wealth-Economic Times https://ift.tt/AsTFmOn via IFTTT

The Reserve Bank of India (RBI) decided to raise the criteria for 'bulk deposits' for regional rural banks (RRBs) to Rs 1 crore from the current Rs 15 lakhs in order to raise more funds. from Personal Finance News-Wealth-Economic Times https://ift.tt/vXQO5J6 via IFTTT

Before the pandemic struck, the share of motor insurance was 37%, as against 27% for health insurance. Motor insurance’s share has dipped to 28% in September, and if premium from personal accident insurance were added to health, its share would be even higher at 41%. from Personal Finance News-Wealth-Economic Times https://ift.tt/yrhnobE via IFTTT

The Reserve Bank of India has imposed monetary penalties on Kotak Mahindra Bank and ICICI Bank due to deficiencies in regulatory compliance, according to two separate RBI press releases issued on October 17, 2023. from Personal Finance News-Wealth-Economic Times https://ift.tt/2WismVJ via IFTTT

The RBI governor, Shaktikanta Das, has been urged by a civil society platform to implement an information security (IS) audit mechanism for banks that have mobile banking apps. from Personal Finance News-Wealth-Economic Times https://ift.tt/F4LSgIs via IFTTT

Over the past three months, the average monthly gross SIP registration was 3.5 million compared with the previous 24-month average of 2.2 million reflecting the rapid pace of SIP additions. from Personal Finance News-Wealth-Economic Times https://ift.tt/w5yiH8I via IFTTT

If you are a State Bank of India (SBI) customer and are facing some technical issues while using UPI for your transactions, SBI has stated the reason. from Personal Finance News-Wealth-Economic Times https://ift.tt/OFqpI8t via IFTTT

State Bank of India customers will not be able to access internet banking services due to scheduled activity. However, it has not mentioned anything about the YONO app, if its service will be available. from Personal Finance News-Wealth-Economic Times https://ift.tt/VAUyXJT via IFTTT

The RBI has directed Bank of Baroda (BoB) to suspend any further onboarding of their customers onto the bob World app with immediate effect. However for existing customers of bob World there would be no troubles, clarified the RBI. Read here to know the details. from Personal Finance News-Wealth-Economic Times https://economictimes.indiatimes.com/wealth/personal-finance-news/bank-of-baroda-cannot-offer-bob-world-app-to-new-users-rbi/articleshow/104315293.cms via IFTTT

The GST Council will provide clarity on input tax credit for life insurers, following a demand on Life Insurance Corporation (LIC). The issue arises from the complication of GST being levied on only a portion of traditional life policies or endowment plans. The input tax credit claimed on the exempted portion of the premium is being questioned by tax authorities. from Personal Finance News-Wealth-Economic Times https://ift.tt/LUiPneK via IFTTT

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Alarmed by very higher growth in the disbursal of personal loan in past few quarters, RBI has cautioned banks and NBFCs against quick and easy personal loans and has asked lenders to implement strong underwriting norms. As a result lenders will have to bring in tougher underwriting norms which will make getting a personal a little difficult for the borrowers. from Personal Finance News-Wealth-Economic Times https://ift.tt/DyCXamE via IFTTT

Fixed deposit investors witnessed a good hike in FD rates since May 2022 after a long gap during which they had witnessed one of the lowest rates in decades. However, with 3 consecutive pause in repo rate hikes by RBI there was a fear of reduction in rates which could have led to fall in FD interest rates has well. However, FD investors are likely to enjoy higher FD rates for a longer period as RBI decided to keep the repo rate unchanged. from Personal Finance News-Wealth-Economic Times https://ift.tt/dMzvZtI via IFTTT

FD interest rate: All eyes are on RBI monetary policy committee (MPC) meeting scheduled on October 6, 2023. Most experts say that the Reserve Bank of India (RBI) is likely to keep the repo rate unchanged at 6.5%. How is it going to impact your investments such as fixed deposits (FDs)? If the repo rate remains unchanged, will the FD interest rates remain stagnant? Will there be no deposit rate hike in the coming days? Or will FD interest rates drop sharply in the near term? Let's find out what experts say from Personal Finance News-Wealth-Economic Times https://ift.tt/6pvgoWq via IFTTT

Today on the occasion of world financial planning day (October 4, 2023) the Financial Planning Standards Board (FPSB) India released a survey report which highlights what millennial Indians and others thinks about financial planning and what is their most unmet demands which can be met with proper financial planning. from Personal Finance News-Wealth-Economic Times https://ift.tt/GUKxoLh via IFTTT

The State Bank of India launched a "Mobile Handheld Device" for its financial inclusion customers in an effort to promote financial inclusion and offer essential banking services to the general people. from Personal Finance News-Wealth-Economic Times https://ift.tt/4wHXvaP via IFTTT

With government expenditure needs exceeding the revenues, the savings were negative. Government dissaving has averaged 2.1% of GDP in the past 10 years. Households contribute to most of the gross savings, contributing over 65% in 2021-22. from Personal Finance News-Wealth-Economic Times https://ift.tt/lbNTBgK via IFTTT