GIFT City taps RBI for RTGS-like dollar payment system
Among the proposals currently being discussed was the establishment of a single ‘settlement bank’ in GIFT City, with which other entities would have dollar balances. Subsequently, debits and credits would be conducted through the settlement bank, sources said.
Take a small exposure to Canara’s new fund to gain from manufacturing push
The NFO of Canara Robeco Manufacturing Fund is open and closes on March 1. Investors can start with ₹5,000 in this fund, and the scheme will be benchmarked to the S&P BSE India Manufacturing TRI Index. An exit load of 1% will be levied for redemptions before one year. The fund will be managed by […]
Banks branch out as deposits hard to come by on apps
More banks, contrary to expectations, are busy building brick-and-mortar presence across the country for access to something that has defined banking since it began: Deposits.
Kotak Mutual Fund restricts flows into small-cap fund
“Few stocks in the small- and mid-cap segment have multiplied, and strong momentum is taking them beyond the fair value of businesses,” said Kotak in a letter to investors. “We believe our funds are positioned defensively, emphasising the quality of businesses. However, given the market background, we see it prudent to limit the inflows in […]
EPS downgrades exceed upgrades in 3 months
A Bloomberg earnings upgrade or downgrade is the consensus estimate by equity analysts tracking the stock, indicating expectations of higher or lower profits, respectively.