COMMERCE

Domestic Mutual Funds Are The Backbone of Indian Economy

Mutual funds account for the lion’s share of domestic investment in the market. In 2018, higher investments by these funds resulted in the market closing the year with nearly 4 percent gains. In 2017, FIIs withdrew Rs 44,108.85 crore but the domestic investment was Rs 90,738.31 crore (netting out mutual fund investment of Rs 106,482 crore while other domestic institutions were sellers). But in 2017, mutual fund investments were able to carry the market with the benchmark indices closing 27.6 percent up for the year.

Shrinking Global Cash Squeezed Down Indian Economy; Investors Pulled Out Money

India the best-performing equity market in Asia last year, outperforming even the U. S. and the MSCI emerging markets index in local currency terms and leapfrogging Germany to become the seventh-largest in the world. The MSCI India Index trades at 17.2 times its estimated 12-month earnings, about 59 percent higher that the MSCI Emerging Markets Index.

Candidates to Replace Rana Kapoor Are Selected

With Kapoor set to exit, the bank needs to finalise a new chief executive by January 31, when Kapoor’s term ends. Before that, the ‘Indian Partners’ of the bank, which includes the family of late Ashok Kapur, will also need to come to an agreement as nomination rights rest jointly with the two families.

Infosys Likely to Opt for Buyback of Shares

Infosys will consider proposals for share buyback and special dividend during its board meeting on January 11, the company said in a statement to the stock exchanges on Tuesday.

Mutual Funds At Greater Risk; Investors Hauled Money Back

Outflows from income scheme fell 48 percent to Rs 3,407 crore in December. Such schemes are considered safer because they invest in high-dividend generating stocks, government securities, certificates of deposits, corporate bonds and money-market instruments. Balanced fund inflows fell the most in five months to Rs 45 crore from Rs 215 crore in November.

‘Tokenisation’ to Become The New Vogue of RBI

From now on, card payment companies will be able to contract third party application developers to provide the ‘tokenisation’ services, through mobile phones or tablets (only on these devices for now) to customers. But all parties involved in the “payment transaction chain” will have to be registered with the central bank.

Mukesh Ambani to Help Younger Brother Anil Ambani Save Reliance Communications

Reliance Jio has expressed difficulty in providing an undertaking to the government to settle RCom’s dues till it is protected from RCom’s past liabilities by a bank guarantee. Such an undertaking is mandatory under spectrum trading norms before the government accords final approval for RCom’s asset sale to Reliance Jio.

Mukesh Ambani to Help Younger Brother Anil Ambani Save Reliance Communications

Reliance Jio has expressed difficulty in providing an undertaking to the government to settle RCom’s dues till it is protected from RCom’s past liabilities by a bank guarantee. Such an undertaking is mandatory under spectrum trading norms before the government accords final approval for RCom’s asset sale to Reliance Jio.

NBFCs Are Caught in the Crunch Owing to IL&FS

There is a need to create regulations that serves the needs of NBFCs and investors, and also those of the borrowers, and thereby serving the overall financial stability, he said.

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Jet Airways Chairman Naresh Goyal to Invest Up to Rs 700 Crore in Jet Airways

Jet Airways chairman Naresh Goyal is ready to invest up to Rs 700 crore in Jet Airways on the condition that his stake does not fall below 25%. Goyal’s offer comes against the backdrop of strategic partner Etihad reportedly putting forward strict conditions, including that Goyal should give up control, for infusing funds into the crisis-hit carrier.

Bihar CM Nitish Kumar Ready to Reconcile with RJD

Bihar Chief Minister Nitish Kumar on Tuesday night claimed that he has “lots of love” for Rashtriya Janata Dal (RJD) leader Tejashwi Yadav despite the “harsh words” the latter often uses.

PM Modi Lashes Out At Kerala Government for Sabarimala Mismanagement

In Kollam today for the launch of two projects, PM Modi said: “The CPM government’s conduct on Sabarimala will go down in history as the most shameful action of any government in power… We know CPM government never respected spirituality, religion… but no one thought it would turn so shameful”.

Spat Over Rafale Is On High Gear

In its response to Pune-based activist Vihar Durve who had sought the report from CAG, the country’s auditor said, “The audit is under progress and the report is yet to be finalised. The information cannot be given under Section 8(1)(C) of the RTI Act as the disclosure would cause breach of Parliament”.

Philip Kotler Backlashed in Favor of PM Modi on Twitter

Coming out in defense of Prime Minister Narendra Modi over receiving “the first ever Philip Kotler Presidential Award”, the marketing guru put out a clarification on Twitter on Tuesday and also applauded the prime minister’s “selfless service towards India”.

Indian 2 Fist Look Poster is Out

The first look poster of Indian 2 is out and it has come as a relief to Kamal Haasan fans since the future of the project looked uncertain due to several rumours.

Galaxy S10 Pieces Leaked; China Compulsory Certification Detected

The first part of the story is that only two variants were certified in China but there have been reports of three and even four total variants of the S10 with at least one 5G-enabled one and possibly a third size (6.1”) in addition to the supposed 5.8” and 6.44” versions.

Honor 10 Lite Launched in India Today

Honor 10 Lite was launched in India today at an event in New Delhi. The Honor 10 Lite price in India has been set at Rs. 13,999 for the 4GB RAM variant, while its 6GB RAM comes at Rs. 17,999. Both models come in Midnight Black, Sapphire Blue, and Sky Blue colour options. Particularly, the Sky Blue colour option comes with a gradient finish. The Honor 10 Lite will be available for purchase through Flipkart and HiHonor India store. The sale will begin starting 12 am (Midnight) IST on January 20.