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How to Pick Mutual Funds That Beat the Market

  Smart Strategies for Investing in Mutual Funds: A Guide to Maximising Your Returns One of the most well-liked investing options for people looking for expert management and diversification without having to choose individual equities is a mutual fund. One of the easiest ways for people to accumulate wealth over time is through mutual fund investments. Mutual funds combine the capital of numerous individuals to invest in a diverse portfolio of stocks, bonds, and other securities, in contrast to direct stock market investing, which necessitates considerable time, study, and risk tolerance. Mutual funds are a well-liked option for both new and experienced investors due to their expert management and diversification. But merely investing in a mutual fund and crossing your fingers seldom yields the best outcomes. A comprehensive approach that matches the appropriate fund selection and management strategies with your financial objectives, risk tolerance, and investment timeline is nece...
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Aditya Birla Idea Payments Bank no longer a banking company, RBI ends status

Aditya Birla Idea Payments Bank no longer a banking company, RBI ends status

 

A piece of important news has come for common people and businessmen. Banking company status has expired under the Banking Regulation Act of Aditya Birla Idea Payments Bank. The Reserve Bank of India gave this information on Thursday. In November last year, the Reserve Bank had said that it would move towards liquidation following the Aditya Birla Idea Payments Bank's voluntary winding up of business.

 

The central bank said in a notification, 'Aditya Birla Idea Payments Bank has now ceased to be a banking company under the Banking Regulation Act 1949. This system has come into effect from 28 July 2020.

 

In July last year, Vodafone Idea Ltd reported to the stock market that Aditya Birla Idea Payments Bank would cease operations. This was attributed to the company's business being subjected to uncertain circumstances which made its economic model impractical.

 

In July 2019 itself, Aditya Birla Idea Payments Bank announced that it would soon consolidate its business and asked customers to transfer their balance as soon as possible. So if you have not withdrawn your money from the bank in time, it may be that your money is stuck.

 

Aditya Birla Idea Payments Bank was licensed to operate as a banking company from the Reserve Bank in April 2017. It started its operations on 22 February 2018. The bank is a joint venture between Aditya Birla Nuvo and Idea Telecom. Grasim Industries Ltd had 51% and Vodafone Idea Ltd 49% stake in Aditya Birla Idea Payments Bank.


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