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Staying on top of the news can help investors and traders to make the most of the financial markets buy knowing the news a trader can know where the momentum is and also know where he/she can cut potential losses.
- The market regulator has introduced a flexi- cap scheme and all the present schemes will have to categorize themselves under the new scheme, under which as much as 65% of corpus will have to invested in equity and there are no set restrictions on large, small or mid cap investments done in company stocks.
- The sovereign Gold bond scheme 2020-2021 series VIII will be opened for issuance from November 9 – 13th 2020. The issue price is fixed at Rs 5177 / gm of gold and a discount of Rs 50 will be offered for investors applying online.
- Bank credits have seen a rise by 5.06% and deposit rates have seen a rise by 10.12%, while personal loans have also seen a rise by 9.2 % in comparison to September having a total of 16.6%.
- The secretary of Meity, announced as much as 75% of work force in IT sector may continue to work from outside and still can be productive compared to sitting in formal office and handling the clients.
- The supreme court on Friday has stated that the e- auction of the coal blocks to be held on 9th November will be subjected completely to orders, it also stated that any benefits that are enjoyed by it’s bidders will also be provisional and the attorney appearing on behalf of center also stated that no trees will be cut and further hearing will be done on 8th of December.
- Finance Minister urges consumer to use digital transactions which will provide a help in assessing the GDP as more transactions can be previewed, while cash transactions to be only made incase of urgency.
- Finance Minister has stated that re-forms related to investments in India is improving, the country is to recover from backlash in the upcoming quarter. PM also addressed all the global investors to invest in India for valuable returns.
- The market regulator of India has enhanced the measures to overseas investment limit for mutual funds. There are different limits for Mutual funds individually and ETFs. The measures are supposed to come in effect immediately.
- After some reports specified that banks will start charging for transactions which are done above the limit, the finance ministry has issued a clarification stating that there has been no increase in service charges by any public sector banks.
- Indian banks are aiming to step up their loan plans by giving the best and lowest possible interest rate at times when economy is reopened and is in festive season.