HSBC Mutual Fund Introduces Multi Asset Allocation Offering
HSBC Mutual Fund has announced the launch of a new fund offering (NFO) for an open-ended scheme focused on multi asset allocation. The fund aims to invest the corpus in equity and equity-related instruments, debt and money market securities and gold/silver ETFs. The NFO will be open for subscription from February 8 to February 22, […]
ED Investigates Paytm and Bank Unit Over Currency Transactions
The Enforcement Directorate (ED), India’s financial crime-fighting agency, is probing if Paytm and its payments bank violated foreign exchange rules, according to two senior government sources. What are the allegations? The sources, who spoke to Reuters on condition of anonymity, did not specify which provisions of the Foreign Exchange Management Act (FEMA) were being investigated. […]
LIC Launches Unit Linked Policy: Index Plus
Life Insurance Corporation of India (LIC), the largest life insurer in the country, has launched a new product called LIC Index Plus, a unit linked, regular premium, individual life insurance plan. The product is available for purchase from February 6, 2024, as per a BSE notification by LIC on February 5. LIC’s Index Plus is […]
Revolutionising Financial Transactions: M2P Fintech’s Prabhu Rangarajan
Prabhu Rangarajan is the co-founder and chief operating officer of M2P Fintech, a company that is changing the world with its innovative and winning financial solutions. M2P Fintech provides a digital infrastructure that enables banks, lenders, fintechs and other financial services players to offer seamless and personalised experiences to their customers. In this interview, Prabhu […]
Slice Launches UPI First Account Product for All
Slice, India’s leading fintech startup, has launched its UPI first account – slice account, a prepaid account that offers a seamless and fast UPI payment experience. The slice account has been made accessible to everyone, including teenagers, after a successful three-month beta testing period. What is slice account? The slice account is a UPI first […]
Paytm’s Market Value Drops $2.5 Billion Post-RBI Crackdown
Paytm, India’s leading digital payments firm, has seen its market value erode by $2.5 billion since the Reserve Bank of India (RBI) cracked down on its payments bank arm over multiple violations of licensing conditions and anti-money laundering rules . The company’s shares have hit the lower circuit for three consecutive days, closing at Rs […]
11.48 Cr PANs Unlinked: Govt Collects Rs 600 Cr in Penalties
The Permanent Account Number (PAN) is a unique identification number issued by the Income Tax Department to taxpayers in India. The Aadhaar is a 12-digit biometric identity number issued by the Unique Identification Authority of India (UIDAI) to residents of India. The government has made it mandatory to link PAN with Aadhaar for filing income […]
LICHFL Targets 2-Year Doubling of Housing Loans
LIC Housing Finance Ltd (LICHFL), one of the leading housing finance companies in India, has set an ambitious target of doubling its housing loan portfolio in the next two years. The company aims to achieve this by expanding its customer base, offering competitive interest rates, and launching innovative products and services. LICHFL’s Growth Strategy LICHFL, […]
NFO Alert: Bajaj Finserv’s Large and Mid Cap Fund
Bajaj Finserv Asset Management Limited, a subsidiary of Bajaj Finserv Limited, has launched a new fund offer (NFO) for its Bajaj Finserv Large and Mid Cap Fund. The NFO period is from February 6, 2024 to February 20, 2024. The fund is an open-ended equity scheme that aims to generate long-term capital appreciation by investing […]
CBDT to Send Notices to Taxpayers for Not Filing ITRs: Are You on the List?
The Central Board of Direct Taxes (CBDT) has announced that it will send notices to some taxpayers who have not filed their income tax returns (ITRs) despite having tax deducted at source (TDS) on their incomes. According to CBDT chairman Nitin Gupta, there are about 15 million such taxpayers in India. The department will send […]