BUSINESS
No effect of SEBI order on ongoing monetisation of shut schemes: Franklin Templeton
In a letter to the investors, Franklin Templeton Asset Management (India) Pvt Ltd President, Sanjay Sapre, said that the order has no impact on any scheme across segments managed by the fund house. "The SEBI order does not impact the current monetisation process of the six debt schemes under winding up being undertaken by the liquidator.
Equity MFs' net inflows at over Rs 10K cr in May: AMFI
As per the data furnished by the Association of Mutual Funds in India (AMFI) on Wednesday, the net inflows stood at Rs 10,082.98 crore. In April, the equity-linked mutual fund schemes' net inflows stood at Rs 3,437.37 crore. Similarly in March, the inflows stood at Rs 9,115.12 crore. However, in February, the equity-linked mutual fund schemes' net outflow stood at Rs 4,534.36 crore.
Contactless Shopping: Now buy a car online from CARS24
The company has built an assortment of over 10,000 cars, all of which will be available for online purchase. Additionally, transparent pricing and a technology enabled catalogue will allow the buyers to quickly browse through thousands of cars and choose the right one that suits them the best. CARS24 is also investing in technology based refurbishment centres in order to provide customers with good quality cars
Indian Bank partners with Fisdom to offer wealth management solutions
Fisdom's role encompasses the entire wealth management journey from origination to fulfilment and post-sale service. The partnership will focus on enabling large-scale facilitation and distribution of wealth products and services through Indian Bank's network of 6,000 branches and its digital properties, including the mobile banking application and internet banking portal.
Equity MFs' net inflows at over Rs 10k cr in May: AMFI
As per the data furnished by the Association of Mutual Funds in India (AMFI) on Wednesday, the net inflows stood at Rs 10,082.98 crore. In April, the equity-linked mutual fund schemes' net inflows stood at Rs 3,437.37 crore.
Similarly in March, the inflows stood at Rs 9,115.12 crore
El Salvador becomes 1st country to make Bitcoin a legal tender
The Central American country is now the first country in the world to make Bitcoin legal tender. "The #BitcoinLaw has been approved by a supermajority in the Salvadoran Congress. 62 out of 84 votes! History!," tweeted Bukele. Bukele on June 5 announced the move in a pre-recorded message played at the Bitcoin 2021 conference in Miami, Florida, during a presentation hosted by Jack Mallers, founder digital wallet company Strike.
Morgan Stanley 1st to top Institutional Investor's All-Asia Research Rankings for 7 years
It is the first company in the 28-year history of the Asia survey to achieve the top position for seven years in a row. The survey ranks the region's most highly regarded sell-side analysts by polling 3,800 buy-side investment professionals at more than 1,200 institutions. For 2021, Morgan Stanley's Asia Research teams ranked in all 36 available categories, with 17 teams ranked #1, 8 teams ranked #2, and 6 teams on #3.
Banking stocks power markets to rise; global cues positive
Accordingly, India's benchmark indices had a gap-up opening and continued to maintain their gains. In terms of sector specific basis, the top gainers were the BSE banking, pharma, energy and realty indices. At 12.20 p.m., the S&P BSE Sensex traded at 52,417.06 points, higher by 141.49 points, or 0.27 per cent, from its previous close.
Stock Talk: Top Banking Companies on Sensex Today
The Indian banking system consists of 12 public sector banks, 22 private sector banks, 46 foreign banks, 56 regional rural banks, 1485 urban cooperative banks and 96,000 rural cooperative banks in addition to cooperative credit institutions.
European firms increasing investment in China after Covid
The proportion of European companies planning to expand China operations in 2021 jumped to nearly 60 per cent from 51 per cent last year, as per the report on Tuesday, citing a survey by the European Chamber of Commerce. About half of the 585 surveyed respondents reported higher profit margins in China than their global average, while the proportion was 38 per cent last year, Xinhua reported.
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