Stock Market MF News

Sensex fell 1448 points, the second-largest decline in history, the investor was hit It was feared by economists abroad that the world will not suffer as much from the coronavirus as it will with its economic impact. This was proved to be true on Friday when the economy of all the major countries of the world was affected by coronavirus due to heavy losses in major stock markets of Asia, Europe and America. The Bombay Stock Exchange's (BSE) 30-share index suffered the second biggest fall in Sensex history. The Sensex lost 1448.37 points (about 3.64 per cent), while the National Stock Exchange (NSE) 50-share major index Nifty also lost 431.55 points (3.71 per cent). At the end of the trading day, the Sensex closed at 38297.29 and the Nifty closed at 11201.75. In both these markets, stock investors lost about Rs 11 lakh crore in a single day. The Sensex had earlier recorded a fall of 1624.51 points on August 24, 2015. Friday's fall was such that investors i...

Incorporated in 1998, SBI Cards and Payment Services Limited may be a subsidiary of SBI, India's largest banking company in terms of deposits, advances and also the number of branches. SBI currently holds 689,927,363 Equity Shares. The company the 2nd largest credit card issuer within the country, with a 17.6% and 18.1% market share of the Indian credit card market (number of credit cards) as of March 31, 2019, and November 30, 2019, respectively, and a 17.1% and 17.9% market share of the Indian credit card market in fiscal 2019 and within the eight months ended November 30, 2019. SBI Cards offers a large range of credit cards to individual and company clients including fuel, rewards, shopping, lifestyle,  travel, banking partnership cards, and company cards, etc. SBI Cards has tie-ups with several leading companies across industries, including IRCTC, Air India, Apollo Hospitals, Etihad Guest, BPCL, Fbb, OLA Money and Yatra, amongst others. At the upper end of the ...

Mutual Fund Investments are investment vehicles where the money is pooled from numerous investors so as to scale back risks associated with mutual fund investments. Experienced mutual fund managers invest the collected funds in diverse asset classes like stocks, bonds, and government securities. Start your mutual fund investments by completing your one-time biometric identification process and avail multiple benefits from mutual fund investments. One can invest in mutual funds by submitting a duly completed form along with a cheque or banker's draft at the branch office or designated Investor Service Centres (ISC) of mutual funds or registrar & transfer agents of the respective mutual funds. One can also prefer to invest online through the websites of the respective mutual funds. One may invest with the assistance of a financial intermediary i.e., a mutual fund distributor registered with AMFI OR invest directly. A mutual fund distributor...

Finance Minister Nirmala Sitharaman delivered the longest budget speech in six years of the BJP government. She started her address in the Parliament by and went on to announce key reforms that sought to address both economic and social aspects of the country. Finance Minister Nirmala Sitharaman said, “In May 2019, Prime Minister Narendra Modi received a massive mandate to form the government again. People of India have unequivocally given their janaadesh for not just political stability, but have also reposed their faith in our economic policy. This is a budget to boost their income and enhance their purchasing power.” Let's look at the key highlights of Budget 2020: New tax Slabs Budget 2020 has made the tax structure more complicated by adding three tax slabs. A new tax regime has been announced. Those who want to be in the old regime with exemptions can continue to pay at the old rates. Taxpayers will have the option to switch t...

Retiring soon and worried about regular money flows? Then you can consider for Pradhan Mantri Vaya Vandana Yojana scheme. The retirement scheme provides attractive interest rates and regular payouts. Its last opportunity for senior citizens to invest at a guaranteed annual return of 8% before 31st March 2020.  Whether the buying option will get further open or not is a question only God knows. PMVVY is a pension product (PMVVY Pension Scheme) for senior citizens that is backed by the authorities of India and operated by using Life Insurance Corporation of India (LIC). It provides social security during old age and to protect elderly persons aged 60 and above against a future fall in their interest income due to uncertain market conditions. The scheme enables old age income security for senior citizens through the provision of assured pension/return linked to the subscription amount based on government guarantee to Life Insurance Corporation of India (LIC). This policy ...

Repo Rate – remains unchanged at 5.15% Reverse Repo Rate – remains unchanged at 4.90% Bank Rate & Marginal Standing Facility (MSF) Rate – remains unchanged at 5.4% Cash Reserve Ratio – The CRR of scheduled banks remains unchanged at 4.0% of their Net Demand and Time Liabilities (NDTL) The Monetary Policy Committee voted unanimously to keep the policy rate unchanged. It also decided to continue with the accommodative stance as long as it is necessary to revive growth while ensuring that inflation remains within the target. It was enumerated that policy space exists for future action and the same may be addressed through opportune instruments gauging the growth-inflation dynamics. The GDP growth is projected at 6.0% for FY21 in the range of 5.5-6.0% in H1 and 6.2% in Q3. The CPI estimates were revised upwards to 6.5% for Q4:2019, 5.4 5.0% for H1 FY21 and 3.2% for Q3 FY21 with risks broadly balanced. Crude prices are likely to remain volatile due to unaba...

Notice is hereby given that SBI Mutual Fund Trustee Company Private Limited, Trustee of SBI Mutual Fund have approved to change the nomenclature of SBI Magnum Taxgain Scheme to  SBI Long Term Equity Fund,  with effect from February 17, 2020. All other term and condition of the scheme remain unchanged. Investor is requested to kindly take note of the above. Mutual fund investments are subject to market risks, read all scheme related documents carefully. Source: SBI Mutual Fund