Mutual Funds Get 19 Lakh New Investors In 2 Months

New Delhi: Mutual fund houses added close to 19 lakh investor accounts in April-May of 2017-18, taking the total tally to a record 5.72 crore, driven by growing interest from retail and HNI investors alike.

This is on top of 77 lakh folios added in the entire past fiscal and 59 lakh in the preceding financial year. In the two years, investor accounts went up following robust contribution from smaller towns.
Folios are numbers designated to individual investor accounts though an investor can have multiple ones. According to data from the Association of Mutual Funds in India (Amfi) on total investor accounts with 42 active fund houses, the number of folios rose to a record 5,71,90,112 at the end of May from 5,53,99,631 at March-end, a gain of 17.90 lakh.

Growing participation from retail as well as HNI (high net worth individuals) categories have contributed to higher overall investor accounts, FundsIndia.com Head of Mutual Fund Research Vidya Bala said. The number of retail investor accounts, which comprise equity, equity-linked saving schemes and balanced categories, surged to 4.60 crore in May-end from 4.4 crore at the end of March.

Mutual funds have gained popularity among Indian investors in the last two years

“A good percentage of investors stay invested in equity oriented schemes for at least 24 months or more than that. This increase in equity-oriented schemes holding period is for applicability of long-term capital gain,” Bajaj Capital CEO Rahul Parikh said.

“Even the Investors’ confidence in MF has increased. Now they are holding their investments in equity-oriented schemes for a longer period of time for both lumpsum as well as SIP (systematic investment plan) investments,” he added. Overall, the country’s mutual fund industry managed an asset base of over Rs. 19 lakh crore, which is likely to cross the Rs. 20 lakh crore mark this fiscal.

Mutual funds are investment vehicles made up of a pool of funds collected from a large number of investors. The funds are invested in stocks, bonds and money market instruments, among others

 

OnePlus 5 Crosses 5.25 Lakh Registrations in China, TV Ad Outs Phone Ahead of Launch

OnePlus 5, the Chinese company’s next flagship smartphone, set to launch on Tuesday is already receiving tremendous response from the consumers. The smartphone crossed 5.25 lakh registrations in China ahead of Tuesday global launch. Additionally, OnePlus India revealed the OnePlus 5 in TV spot during India vs Pakistan cricket match on Sunday, while also teasing other features and camera capabilities of the OnePlus 5 in a series of tweets over the weekend.

OnePlus is taking registrations for the OnePlus 5 via JD.com in China, and at the time of writing, the registrations had topped over 5.27 lakh. It’s worth pointing out that these registrations are just an expression of interest in the smartphone and do not involve any payments on behalf of those registering. The OnePlus 5 is expected to go on sale in select market starting Tuesday while in India, the smartphone is expected to go on sale on Thursday via Amazon India e-commerce website.

OnePlus 5 Crosses 5.25 Lakh Registrations in China, TV Ad Outs Phone Ahead of Launch

OnePlus has been busy creating hype around its next flagship smartphone, and has released several teasers. OnePlus India tweeted during the match, “Caught our ad during the #IndvsPak match? Tweet a screenshot of your favourite moment with #OnePlus5Launch & get a chance to win the phone!” The OnePlus 5 image shown in the image confirms the leaks so far that the smartphone looks like iPhone 7 Plus with the dual rear camera setup to boot. The phone also sports a slim profile, and is said to be “slimmest flagship smartphone” from the company, though we will need to wait until the official OnePlus 5 reveal to see if it lives up to that promise.

In a series of new tweets, the global Twitter handle of OnePlus has teased few more features like “always connected”, which could be a hint at dual-SIM support on the OnePlus 5. In another tweet, the company teased charging capability of the OnePlus 5. It wrote, “charging ahead.”

In yet another tweet, the company again teased the dual camera capability on the OnePlus 5. Carl Pei, OnePlus Co-founder, also teased bokeh effect in an image said to be clicked with the OnePlus 5.

The upcoming OnePlus 5 is widely expected to sport dual cameras at the back, and come with iPhone 7 Plus-like setup which is likely to be the biggest highlight. Some of the other notable specifications include Snapdragon 835 SoC (confirmed), with rumours tipping a OnePlus 5 model with 8GB of RAM.

According to various leaks, the OnePlus 5 price in India for the 6GB RAM and 64GB storage model is said to be Rs. 32,999, while the 8GB of RAM and 128GB storage model is said to cost Rs. 37,999. If these turn out to be the actual prices, the OnePlus 5 will be the most expensive OnePlus smartphone yet. A recent leak had suggested $479 (roughly Rs. 30,800) price in the US, while an earlier rumour had suggested the smartphone would cost around EUR 550 (roughly Rs. 39,900) in some European markets.

 

 

 

 

SSC CGL 2017 STATISTICS: MORE THAN 30 LAKH HAVE APPLIED, APPLICATIONS CLOSED

 

Government job aspirants have given a huge response to recently notified SSC CGL 2017. A staggering 30,26,598 have submitted online application form.

Staff Selection Commission closed CGL application form today, on 19 June 2017 at 5 PM. From 16 May to 19 June, applications came flowing in at ssconline. However, it is worthy to note that this number is lesser than last time.

Comparison of applicants for SSC CGL with last year

For Tier 1 examination held in 2016, number of applicants was 38,04,000. What has probably caused this drop in figures is difficult to pin-point. Though it might be that there have been several good government job recruitment in intervening time, where several aspirants have been offered positions, thus bringing down numbers for SSC CGL 2017. Other reasons are open to speculations.

Initially last date to apply was 16 June 2017, which was extended by three days as candidates could not access online application form. There were some issues in server that was causing trouble.

Issue of admit card

After receiving applications, Staff Selection Commission will release SSC CGL Admit Card 2017. Regional and sub-regional offices – Northern, Southern, Kerala-Karnataka, Western, North-Eastern, Central, Eastern, Madhya Pradesh, North Western – will release admit card a few weeks before exam. Applicants can download it with registration number. Admission certificate (admit card) will intimate about exam center and date of exam.

More SSC CGL aspirants since 2015

When Tier 1 result was announced two years ago, number of test takers reported was 17,86,047. It is evident that since that year, numbers have doubled.

Cut off last year was 137 for UR, 125 for OBC, 114 for SC, 103 for ST.

Computer based exam of SSC CGL 2017 is from 01 to 20 August 2017, as per notification. There will be 100 questions divided among General Intelligence Reasoning, General Awareness, Quantitative Aptitude, English Comprehension.

To beat this competition, hard work and dedication are key factors in exam preparation. It is difficult, but surely not impossible to clear Combined Graduate Level exam. Best wishes to aspirants!

 

Don’t report frauds below Rs 1 lakh to police: CVC to banks

The Central Vigilance Commission (CVC) has asked public sector banks not to report frauds below Rs one lakh to local police, unless their staff is involved in such crimes.

Earlier banks were mandated to report fraud of above Rs 10,000 and below Rs one lakh to police.

The decision was taken by the CVC in consultation with the Reserve Bank of India (RBI), taking into the account the practical difficulties faced by public sector banks in reporting such categories of cases.

CVC

It has been decided that only if staff of the bank is involved in the fraud cases of below Rs one lakh and above Rs 10,000, would such cases need to be reported or complaint filed with local police station by the bank branch concerned, the commission said in a directive to chiefs of all the banks.

The cases of frauds of upto Rs one lakh and not below Rs 10,000 are to be scrutinised by banks officials concerned for further necessary action, a senior CVC official said.

As of September 30, 2016, the Non-Performing Assets (NPAs) declared by various scheduled commercial banks stood at a whopping Rs 6,65,864 crore, according to an official data.

The NPAs of the country’s largest lender State Bank of India is Rs 97,356 crore, followed by Rs 54,640 crore of Punjab National Bank and Rs 44,040 crore of Bank of India, it said.

Bank of Baroda has NPAs of Rs 35,467 crore, Canara Bank Rs 31,466 crore, Indian Overseas Bank Rs 31,073 crore, Union Bank of India Rs 27,891 crore, IDBI Bank Limited Rs 25,973 crore, Central Bank of India Rs 25,718 crore, Allahabad Bank Rs 18,852 crore and Oriental Bank of Commerce Rs 18,383 crore, said the data, which was given by the government in Rajya Sabha in August last year.