Mutual Funds

RBI rules out ban on sale of gold coins by banks

Pune: The Reserve Bank on Tuesday ruled out a ban on the sale of gold by banks but asked lenders to refrain from aggressively selling the precious metal. RBI Governor D Subbarao told reporters here that the RBI did not intend to ban sale of gold coins by banks.

"We do not want banks to aggressively market gold. We do not want that to become a business. Gold loans are a very small part of the banking business," he said on the sidelines of a financial inclusion conference here.

In a bid to curb demand for gold, the RBI on Monday imposed restrictions on banks and NBFCs for providing loans against gold coins as well as units of gold ETFs and mutual funds.

Saying the route of buying gold for the purpose of genuinely saving should be available to the people, Subbarao emphasised that investment in the financial sector is good for the economy. He also noted that the attractiveness of gold is a "consequence of high inflation"....more

10:24 PM, May 28, 2013

Andrade: Look at firms that shrink balance sheets

by Forbes India

He has worked in the Indian mutual fund industry for more than 15 years. He picks tomorrows blue-chip stocks from todays numerous mid-cap companies. Investment philosophy: He hitched his fund wagon to the theme of consumption and food inflation more than two years ago and his top picks too have remained the same over that period. Other interests: Stays in Mumbai and is slightly partial to Totos, that classic of...

01:09 PM, Jan 17, 2012

RIL to be debt-free this year: Mukesh Ambani

by Press Trust Of India

Mumbai: Corporate giant Reliance Industries' Chief Mukesh Ambani on Friday announced that the company would become debt-free in the current financial year. Announcing a bullish stance on the company's financial position, the Chairman and MD said that RIL would become debt-free on a net basis in the current 2011-12 fiscal. RIL had outstanding debt of Rs 67,397 crore ($ 15.1 billion) as of March 31, 2011, as against Rs 62,495...

12:00 PM, Jun 03, 2011

Holding the foreign hand - FIIs in mutual funds

by Pravin Palande,Forbes India

The floodgates might just have opened for the Indian mutual fund industry. Indian markets have always been considered to be very attractive for investors in developed markets, but mutual funds in India were never allowed to tap retail investors from abroad. Hence, mutual funds used the Mauritius route to attract international investors into their portfolio management schemes (PMS) or offshore funds. This has often been considered cumbersome and the target...

02:41 PM, Mar 19, 2011

Reliance MF launches Gold Savings Fund

by Press Trust Of India

Mumbai: Anil Ambani group firm Reliance Mutual Fund today launched a new Gold Savings Fund, a first-of-its-kind investment scheme focused on gold, to tap a market that it expects to become bigger than even equity mutual funds. The new fund, which is different from gold ETFs (Exchange Traded Funds) that require subscribers to have a demat account, will also offer investors the option to invest as little as Rs 100...

04:22 PM, Feb 09, 2011