Money
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October 2024: Indian Mutual Funds Attract a Whopping Rs 2.4 Lakh Crore Inflows
The Association of Mutual Funds in India (AMFI) has reported that monthly inflows into mutual fund Systematic Investment Plans (SIPs) breached the Rs 25,000 crore threshold for the first time in October 2024. SIP contributions for the month surged to Rs 25,323 crore, marking an all-time high compared to Rs 24,509 crore in September 2024. A year ago, in October…
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Crypto Boom! Dogecoin Jumps 25% as Bitcoin Surpasses $87,000!
The price of bitcoin and other cryptocurrencies surged on Monday, continuing a rally that began last week following the reelection of former President Donald Trump. Bitcoin rose nearly 11%, surpassing $87,000 for the first time, setting a new record. Ether, the second-largest cryptocurrency, gained 5.5%, while lesser-known coins like Litecoin and Dogecoin saw significant increases, with Dogecoin jumping nearly 25%.…
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Bitcoin Hits Record High as Investors Bet on Trump Victory
Bitcoin has surged to a new record high as investors speculate on a potential Donald Trump victory in the US presidential race, viewing him as a pro-crypto candidate. The cryptocurrency climbed to an impressive $75,005.08 on Wednesday morning, surpassing its previous peak of $73,797.98 reached in March. Russ Mould, an analyst at AJ Bell, highlighted that Bitcoin’s price has closely…
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Why the Indian Mutual Fund Industry is Set to Explode: Jio Financial and BlackRock are Changing the Game
The Indian mutual fund industry has been on a remarkable journey, growing from Rs. 25 akh crores to a whopping Rs. 66 lakh crores today. But this is just the beginning. With the recent entry of Jio Financial Services, in partnership with global investment giant BlackRock, the industry is poised for a revolution. Mr Rajesh Shukla Whenever Reliance Industries steps…
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Want to Make Your Money Work Harder? Here’s How to Transform Your Savings!
Investing wisely for the future requires a grounded approach, especially in an unpredictable financial landscape. While many dream of quick riches and high-yield returns, the reality is that successful investing revolves around two key principles: increasing your contributions and allowing your investments more time to grow. Below are ten essential pointers that outline a pragmatic strategy for achieving your financial…
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Gold Prices Rise in Response to Positive Global Cues and Rate Cuts
Gold prices in the domestic futures market increased on Monday, bolstered by positive global trends following a recent 50 basis points rate cut by the US Federal Reserve. Expectations of further rate cuts through 2026 are supporting gold’s appeal, as lower interest rates reduce yields on interest-bearing assets, making gold a more attractive option for investors. Spot gold prices remain…
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NPCI Enhances UPI for High-Value Transactions, Raising Tax Payment Limit
Indian taxpayers are set to enjoy enhanced convenience with the recent upgrade to the Unified Payments Interface (UPI) system. The National Payments Corporation of India (NPCI) has raised the UPI transaction limit for tax payments, allowing up to ₹5 lakh per transaction, a notable increase from the previous ₹1 lakh cap. This update, issued through an NPCI circular on August…
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Nippon India Mutual Fund Revises Subscription Limits for Small Cap Fund
Nippon India Mutual Fund has announced revised subscription limits for its Small Cap Fund, effective August 16, 2024. The changes include a shift in daily investment limits for new SIPs and STPs to Rs 50,000 per transaction or installment, and the introduction of a monthly overall limit of Rs 11,50,000 per PAN. These adjustments aim to manage inflows and ensure…
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Global Gold ETFs Reach New Highs as India Drives Inflows with 4.5% Monthly Return
Asia continues to strengthen its position as a magnet for gold investments, marking the 17th consecutive month of inflows with a notable USD 438 million influx in July, according to a recent report by the World Gold Council. India has emerged as a leader in these inflows, largely due to the reduction in gold import duty from 15 per cent…
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Akums Drugs and Pharamaceuticals IPO Oversubscribed 63.5 Times, Strong Market Debut Expected
Akums Drugs and Pharmaceuticals, a leading name in the Indian pharmaceutical industry, is poised for its much-anticipated debut on the stock exchanges this Tuesday. With a robust subscription rate and a significant Grey Market Premium (GMP), the company’s initial public offering (IPO) has garnered substantial investor interest. Here are five key points about Akums’ IPO and its market debut: Strong…
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