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Tata Mutual Fund to Launch Retirement Fund
Tata Mutual Fund today filed draft prospectus with market regulator Sebi for coming out with Tata Retirement Fund, which is an open ended fund. New investors willing to put in money into the new fund...
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Edelweiss Mutual Fund to Launch Midcap Fund
Edelweiss Mutual Fund today said it plans to launch a midcap-based fund within three months in an attempt to increase the number of products and assets under its management. "We will be...
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IT Department to Review Property Deals for Black Money
If you’re buying a house, expect a call from the taxman. The income tax (I-T) department has decided to toothcomb property deals that could throw light on irregularities or tax evasion all over the...
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No Income Tax Returns Required for Income up to Rs 5 lakh
Tax payers with annual income of up to Rs 5 lakhs will not be required to file returns, a move that will provide relief to about 70 to 80 lakh people. "Assessees with income up to Rs 5 lakh will be...
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HDFC Bank adjudged strongest bank in Asia Pacific
Country's second largest private sector HDFC Bank has been declared the strongest bank in Asia Pacific by the Asian Banker magazine. The bank won this award, beating more than 50 banks across 13...
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Income Tax Department Seeks More Staff to Strengthen Operations
Aiming to give more teeth to the investigation against black money, Income Tax Department hit by staff shortage today said it has sought an additional 22,000 staff to strengthen its various operations....
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Birla Sun Life Launches Gold ETF
Birla Sun Life Mutual Fund has launched a new fund as Birla Sun Life Gold ETF, an open ended gold exchange traded fund. The investment objective is to generate returns that is in line with the...
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Housing prices may go up on back of RBI rate hike
Housing prices could go up, as the borrowing cost for developers is set to increase following the hike in short-term lending rates by the RBI, industry body CREDAI said today. However, real estate...
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Reseve Bank raises policy rates by 50 basis points
In a bid to check inflation, Reserve Bank today raised its short term lending (repo) rate by 50 basis points to 7.25 per cent, while lowering the economic growth projection to 8 per cent for the...
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RBI warns of tough times; raise key rates by 50 basis points
Warning of tough times ahead, the RBI today raised the key short term lending rate and savings bank rates by 50 basis points and advised the government to hike petroleum prices as soon as possible in...
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Home, auto loans to cost more as RBI tightens policy
Home, auto and corporate loans are likely to cost more, with the Reserve Bank raising key policy rates by half a percentage point, bankers said today. "I think banks do not have any other option but...
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Recent Developments and Business Opportunities in Indian Financial Markets
Recent developments in Indian Financial Markets The Indian financial markets are undergoing major transformation since the last 2 years. We are witnessing lot of new developments in Indian financial...
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More Interest For Post Office Deposits
A government committee has suggested raising interest rates on Post Office savings bank deposits to 4%, a suggestion that could benefit lakhs of small depositors. The Committee on Small Savings also...
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Exemption on Interest Income from Post Office Savings Bank Account is Limited...
As per the new provisions of the Income tax Act, exemption available on Interest income from Post office Savings bank account has been limited to Rs. 3,500 Per annum in case of individual, Rs 7,000 in...
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Petrol in India costlier than US, Pakistan: R P N Singh
Petrol prices in India are costlier than the US but cheaper than European countries, Minister of State for Petroleum and Natural Gas R P N Singh said today. Petrol in Delhi is priced at Rs 63.70 a...
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