Inclusion Financial News

₹1,000, a duration of 5 years, and an interest rate of 5%. If you buy this bond for ₹1,000 and RBI cuts its interest rates by 1%, the bond’s price would increase by about 5% (1% change in interest rates multiplied by the 5-year duration). Consequently, the price of the bond would rise to ₹1,050.

JP Morgan index this week, with the pace likely to accelerate once the US starts cutting rates, Standard Chartered Bank's India head of financial markets said. «We have a different profile spread across clients. There are real money clients who may be investing in India off-benchmark. Then there will be the passive index trackers who will be the regular ones coming each month and we may see some large allocations come in intermittently. So, around $2-3 billion per month is what we expect,» Parul Mittal Sinha, head — financial markets, India & co-head, macro trading, ASA, Standard Chartered Bank, told ET.

rupee traded flatish on Tuesday with a gain of 3.5 paise at the end of the trading session. This is the third consecutive session where the local currency has gradually gained in expectation of index inclusion that will happen this week. The rupee closed at 83.432/$1 on Tuesday. As the month-end approaches, the demand from local oil companies makes the rupee trade lower, but such a case was not seen this month.

CNG systems during manufacturing, Honda will reportedly provide these kits through its dealerships as aftermarket add-ons. This approach allows flexibility for customers to retrofit CNG capabilities onto both manual and CVT transmission versions of the aforementioned models.Reportedly, the CNG conversion is likely to be priced between ₹75,000 to ₹85,000 inclusive of installation, and will include a one-year warranty from Honda dealerships, ensuring peace of mind for buyers.

₹19.38 crore on Facebook and Instagram, and the Congress spent at least ₹10.88 crore. Similarly, the BJP spent at least ₹85.8 crore, and the Congress at least ₹45.4 crore on Google, including YouTube. The ad repositories of Google and Meta, which are not as transparent as they should be, and only tell part of the story, show that the two companies earned 9-10 digit figures from just two major political parties between February and May 2024.

June 25 is the day the capital gains inclusion rate increase comes into effect. Even though the particular legislation is not yet in a bill and thus not passed into law, it’s quite clear it will become so later this year with legal effect as of that day.

Bank of Canada governor Tiff Macklem says the country must not take its competitive labour market for granted, adding that with inflation much closer to two per cent, there is room to invest in new jobs without creating inflationary pressures.

HPCL, ONGC and Gujarat State Petronet (GSPL) are the only stocks with value in the Indian oil and gas sector, domestic brokerage firm Motilal Oswal stated in its report, noting that value trade has faded away in the sector. Motilal Oswal maintained a ‘buy’ call on HPCL, ONGC and GSPL with target prices of Rs 400, Rs 340 and Rs 385 respectively.

Bharatiya Mazdoor Sangh, an RSS-affiliate central trade union, demanded the Centre extend the Mahatma Gandhi National Rural Employment Guarantee scheme for 200 days for each family from 100 now, inclusion of agriculture and allied sector work under the scheme and restoration of the old pension scheme. In its pre-budget meeting with the finance minister Nirmala Sitharaman, BMS general secretary Ravindra Himte demanded increasing the minimum pension under the Employees’ Pension Scheme (EPS), 1995 from Rs 1,000 to Rs 5,000 while enhancing of honorarium of scheme workers, especially for Asha, Aanganwadi, Mid-day Meal and National Health Mission workers. “The government must ensure provision of adequate funding for Beedi and other unorganised sector welfare boards and a minimum monthly pension of Rs 5000 and variable dearness allowance along with benefits of Ayushman Bharat for all EPS 95 pensioners,” it said in a statement issued on Tuesday.

micro and small business units, marginal farmers and self-help group members still suffer from unavailability of institutional credit, while grassroot customers do not get comprehensive financial services, Reserve Bank of India said. «Deepening financial inclusion is not merely about increasing the number of bank accounts but about ensuring that every individual has access to a comprehensive range of financial services tailored to their needs. This includes savings, credit, insurance and investment products that can enhance their economic well-being,» the deputy governor said on June 19 at the Conference of Convenors of State Level Bankers’ Committees, held at College of Agricultural Banking in Pune. RBI shared a copy of his speech Monday.

financial inclusion through better coordination with government and NGOs in credit planning and promoting digital financial literacy. Observing that the role of SLBCs in fostering inclusive and sustainable growth is crucial and multifaceted, he said, it can drive significant progress in bridging the gap between financial services and the underserved populations. «By focusing on effective coordination with government and NGOs, adopting a scientific approach to credit planning, and emphasising digital financial literacy, SLBCs can create a more inclusive financial ecosystem,» he said at the Conference of Convenors of SLBCs at Pune on June 19. «As we move forward, it is essential to monitor and measure the tangible outcomes of our efforts, ensuring that the benefits of financial inclusion reach every corner of our country,» he said.

In modern workspaces, organisations are going the extra mile to promote diversity and inclusion. There is an immediate need for those who are equipped with diversity skills to collaborate with people from distinct backgrounds in order to bolster a culture of inclusivity. Therefore, freshers must learn how to cultivate and leverage diversity skills.

Nifty on Monday morning fell over 100 points while Sensex also lost 400 points with heavyweights HDFC Bank, RIL, and SBI leading the downside. The weakness was led by selling pressure in banks and metal stocks, while FMCG and consumer durables saw some buying amid sectoral rotation.

However, broader sentiment will likely get a boost by the inflows after domestic bonds are included in JPMorgan's emerging market debt index later this week.

The Goods and Services Tax (GST) Council under the chairpersonship of finance minister Nirmala Sitharaman, after its first meeting on Saturday since the new government assumed office, has announced many changes to make compliance easier. Among them are a waiver of interest and penalty on certain past tax demands, tweaks in monetary limits to reduce litigation, reduction in the pre-deposit amount needed for filing appeals and exemption of railway platform tickets, among other items. These are welcome moves that will ease GST’s burden for some.

Nirmala Sitharaman on Saturday underlined Centre's support to states through timely tax devolution and GST compensation arrears to stimulate growth. At the pre-budget meeting with state finance ministers, Sitharaman also nudged states to take advantage of the scheme under which the Centre gives 50-year interest free loan to states for undertaking specified reforms. In her remarks, the Union Finance Minister underlined the union government's support to states through timely tax devolution, Finance Commission grants, and arrears of GST Compensation being provided for providing stimulus to growth, an official statement said. Regarding the 'Scheme for Special Assistance to States for Capital Investment', Sitharaman mentioned that while most of the loans are untied, a part of it is conditional-linked to citizen-centric reforms by states and sector-specific capital projects and requested the states to avail these loans by fulfilling requisite criteria.

Prime Minister Justin Trudeau has made increasing housing a top priority by committing to “the most comprehensive and ambitious housing plan ever seen in Canada.” Unfortunately, he is also committed to muddled policies that kneecap his housing goals.

As part of the upgrade, the ETF was renamed to EMQQ Emerging Markets Internet UCITS ETF, and its exposure to Chinese equities was capped at 45%. The reclassification followed EMQQ's inclusion of an ESG screen to the fund, which will also be reflected in its change of name. The decision to limit investments in Chinese equities was made in light of plans to broaden the ETF's exposure and capture a range of global emerging and developing markets. In addition to the cap on Chinese equities, investments in the South Korean market are also capped at 10%. HANetf to drop fossil fuel exclus...

Adani Ports shares entered the S&P BSE Sensex on Friday while Wipro made an exit from the 30-stock index as part of the semi-annual rejig. The adjustment happened after the market hours and the stock will start trading as a Sensex constituent from Monday. With the inclusion of Adani Ports Special Economic Zone (APSEZ), passive inflows of $259 million is expected along with the addition of 14.9 million shares, according to Nuvama’s estimates.

Union Budget 2024: Any political party that forms the government, with majority or in coalition, in India has a set of responsibilities towards society, politics, and the economy. It is especially essential to relocate with resources in a way that allows a country that is as diverse as India, with its rich cultural, religious, and economic tapestry to move ahead in the right direction. Uplifting underprivileged sections of society, ensuring financial inclusion, reducing regional disparities, strengthening defense capabilities, providing quality education, and much more are part of the government’s long list of work that is voted for. Thus, a well-planned budget is of utmost importance for any government to achieve economic stability and growth.

Many times certain family members (parents, kids or grandkids) need more support than others (due to personal, mental or physical challenges). It is important to acknowledge this and make a plan that would be inclusive, whilst being just and fair to others.If one family member needs more financial support than the other, this feeling has to be propagated by not just words on paper (via will), but also by emotions and support (when alive).