RELEASE OF FUNDS
What does mutual fund industry want from Union Budget 2024-25?
The mutual fund industry presents its wishlist for Union Budget 2024-25, including proposals for tax parity, infrastructure investment, and capital gains taxation. Experts weigh in on potential impacts and benefits for investors.
Newly launched defence mutual fund delivers 9% return in just 8 days
The Motilal Oswal Nifty India Defence Index Fund has shown an 8.62% return in the last eight days after collecting Rs 1,676 crore during its NFO period.
Best focused mutual funds to invest in July 2024
According to Sebi norms, focused equity mutual fund schemes must invest in a portfolio of maximum 30 stocks. These schemes have no other restrictions when it comes to investing- like flexi cap schemes they can invest in any market capitalisations and sectors. If that investment strategy appeals to you, you can get to know more about focused equity schemes.
Budget 2024: AMFI urges tax concessions for debt mutual funds, releases 16-point proposal
The Association of Mutual Funds in India (AMFI) has released 16-point proposal for Union Budget FY 2024-25 requesting tax concessions in debt mutual funds, parity in taxation on gold and Gold ETF MF, and that all mutual funds should be allowed to launch pension oriented MF schemes with uniform tax treatment as National Pension System (NPS).
NFO Watch: Tata Mutual Fund launches Tata Nifty India Tourism Index Fund
Tata Mutual Fund has launched Tata Nifty India Tourism Index Fund, the nation's first tourism index fund comprising a collection of companies forming part of Nifty 500.
Baroda BNP Paribas Manufacturing Fund NFO collects over Rs 1370 crore
Baroda BNP Paribas Manufacturing Fund through its NFO has collected around Rs 1,370 crore from investors. The new fund offer or NFO was open for subscription from June 10 to June 24.
NFO Watch: Mirae Asset Mutual Fund launches Nifty200 Alpha 30 ETF Fund of Fund
The new fund offer (NFO) will open for subscription on July 8th and will close on July 22nd. Investors can begin continuous sale and repurchase of the fund starting July 29th.
AMFI releases new stock categorization, cut-offs for largecap hiked to Rs 84,000 crore
AMFI updated market cap categories: large cap threshold at Rs 84,300 crore, mid cap at Rs 27,600 crore, effective till January 2025. Stocks moving: Hero Motocorp to large cap, SRF to mid cap. Small caps increased, including SRM Contractors. Aligned with Nuvama predictions; affects fund visibility, manager decisions, and reclassification, with limited immediate flow impacts.
Karnataka releases draft gig workers Bill; seeks comments from platforms, other stakeholders
Karnataka introduced draft Bill for app-based platforms to provide social security benefits to gig workers and sought public feedback. The Bill proposes fee on transactions and penalties for non-compliance. It aims to protect workers' rights and ensure basic social security. It is inspired by Rajasthan law and includes grievance redressal mechanism and prevention of illegal termination. the Bill promises welfare board, fund for gig workers. Discussions have been held with major platforms and International Labour Organisation for input.
PM Modi to release Rs 20,000 crore of PM-Kisan Samman fund into 9.26 crore bank accounts of farmers today
Prime Minister Narendra Modi is set to release the 17th installment of the PM-KISAN scheme during his visit to Varanasi on Tuesday. More than 9.26 crore farmers will benefit from this, receiving over Rs 20,000 crore. Additionally, the Prime Minister will distribute certificates to over 30,000 self-help groups trained as Krishi Sakhis. The event, organized by the Union Ministry of Agriculture and Farmers Welfare in coordination with the Uttar Pradesh government, aims to support farmers and raise awareness about agricultural practices.
First day in office: Arunachal CM Pema Khandu signs file approving release of funds to the tune of Rs 100 crore under CMSSS
Pema Khandu, the Chief Minister of Arunachal Pradesh, took oath for the third consecutive term in Itanagar. He approved Rs 100 crore under the CMSSS, benefiting 80000 beneficiaries. The oath ceremony was attended by several dignitaries including BJP leaders.
Fund released for farmers was due month ago, PM Modi did no special favour to them: Congress
Congress criticizes PM Modi for delayed release of PM-Kisan Samman Nidhi fund, calling it farmers' legitimate entitlement. Demand for legal MSP, farm loan waiver to benefit farmers.
Fund released for farmers was due month ago, PM Modi did no special favour to them: Congress
Taking charge as prime minister in his third term, Modi on Monday signed his first file authorising the release of the 17th instalment of the PM-Kisan Samman Nidhi fund, amounting to nearly Rs 20,000 crore that will benefit around 9.3 crore farmers.
SaaS startup Testsigma raises $8.2 million led by MassMutual Ventures
Existing investors Accel, Strive and BoldCap also participated in the round, Testsigma said on Wednesday. The company had previously raised $4.6 million in 2022.
India's growth outlook: Economy to get a blockbuster release this Friday? But that's too late to stream in poll campaigns
GDP Q4: As the country buzzes with election excitement, India is set to release its GDP growth numbers for the fourth quarter of FY24 this Friday, alongside the full fiscal year figures. Analysts are eagerly awaiting to see if the January to March quarter numbers surpass expectations, fueling hopes of a surprising uptick in growth.
Centre has released Rs 3,454 cr for drought relief, says Siddaramaiah
Karnataka Chief Minister Siddaramaiah has said that the Central government has approved Rs 3,499 crore as drought relief, but only released Rs 3,454 crore. The state was supposed to receive Rs 18,171 crore, but the Central government has only approved Rs 3,498.98 crore. Siddaramaiah alleged that the Union government did not give the relief fund out of concern for Karnataka but was forced to release money after the state government approached the Supreme Court.
Smallcap mutual fund investors await release of 2nd round of stress test results
The market regulator has asked the MF houses to publish the stress test results on their respective websites by the 15th of every month. The main purpose of the stress test was to make mid and smallcap investors aware of the risks associated with and the impact of volatility on the portfolio.
Tamil Nadu approaches SC against Centre's 'step-motherly treatment'
The Tamil Nadu government has petitioned the Supreme Court for over ₹37,000 crore in relief funds for natural calamities caused by floods and Cyclone Michaung. The state argues that the Centre's delay in funds release is discriminatory and violates fundamental rights. The state has requested the release of ₹19,692.69 crore for Cyclone Michaung damage and ₹18,214.52 crore for heavy rainfall in Tamil Nadu's southern districts.
Electoral Bonds: Lifting veil on Megha, Vedanta, Future Gaming and Reliance-linked co's donations to BJP, TMC, Congress & others
The State Bank of India (SBI) has released the complete electoral bond data as per the Supreme Court's directives. The dataset contains unique alphanumeric numbers linking bond purchasers to the political parties redeeming them.
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