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SEBI, the market regulator, launched a new kind of equity mutual fund scheme named 'Flexicap Fund' vide circular dated November 6, 2020. These are open-ended dynamic equity funds that invest in equities from big, mid, and small companies. A minimum of 65 percent of total assets will be invested in equities and equity-related products. Fund managers in the Flexicap category have complete freedom to invest in businesses of any size. To gain from strong growth, fund managers might invest in high-growth, small-sized businesses. They seek businesses with excellent balance sheets, favourable return ratios, and positive cash flows. Key advantages include: • Fund managers are free to invest throughout the market capitalization spectrum. • A well-diversified equities strategy with a "go-anywhere" attitude • Ability to capitalise on opportunities throughout the market spectrum - regardless of market capitalization, industry, or style • Aims to take advantage of investment possibilities across the board. • Due to a diverse portfolio, the risk and return components are rather well balanced. What distinguishes it from Multicap Funds? Multi-cap funds must follow the 25-25-25 rule, which requires them to invest 25% in large-cap companies, 25% in mid-cap stocks, and 25% in small-cap stocks, placing minimum investment requirements across market cap sectors. SEBI proposed a new category, "Flexi Cap Fund," to provide AMCs more freedom. This fund will be positioned as a dynamic equity fund with no limit or bias toward any market cap sector.

The Tax Department currently details Form 26AS, a consolidated yearly tax statement that contains information on tax deducted/collected at source, advance tax, and self-assessment and is available on the Income-Tax website against a taxpayer's Permanent Account Number (PAN). The updated Form 26AS was introduced in the Budget for 2020-21, and it provides a more detailed picture of the taxpayer than the data of tax received and deducted at source. The redesigned Annual Information Statement (AIS) includes new categories of information on interest, dividends, securities transactions, mutual fund transactions, and remittances from overseas, as well as data on a variety of other transactions now accessible from the IRS. Form 26AS will remain in use until the new AIS is verified and fully functioning. The Department had informed the revised annual information statement in Form 26AS, effective June 1, 2020, in May of last year. All facts given by banks and financial institutions that were previously included in their Statement of Financial Transactions were incorporated in the updated Form 26AS (SFTs). The new AIS may be obtained by going to the new Income Tax e-filing site (https://www.incometax.gov.in) and clicking on the link "Annual Information Statement (AIS)" under the "Services" category. A provision has been provided for the taxpayer to offer comments online if they believe the information is erroneous, refers to another person/year, is a duplicate, etc. Feedback can also be provided in bulk by providing numerous pieces of information. Taxpayers can also use an AIS Utility to watch AIS and input feedback in an offline mode. In the AIS, the reported value and the value following feedback will be displayed separately. If the information is changed or rejected, the source of the information may be contacted for confirmation. For each taxpayer, a simplified Taxpayer Information Summary (TIS) has been prepared, which displays aggregated value for the taxpayer to make filing returns easier. If a taxpayer provides input through AIS, the derived information in TIS will be instantly updated in real time and used for pre-filing returns. Pre-filling will be made available in stages

Fino Payments Bank IPO: Fino Payments Bank launched its initial public offering (IPO) on Friday, October 29, 2021, with a price range of Rs 560-577 per share. The promotion will run until Tuesday, November 2, 2021. Fino Payments Bank hopes plans to raise Rs 1,200 crore through the offering. The IPO consists of a fresh issue of equity shares worth Rs 300 crore and an offer for sale (OFS) of 15,602,999 equity shares by Fino Paytech, the company's promoter. The offer also includes a Rs 3 crore share reservation for the company's eligible employees. Blackstone, ICICI Group, Bharat Petroleum, and International Finance Corporation are among the investors in Fino Paytech (IFC). Investors interested in subscribing to the Fino Payments Bank initial public offering (IPO) can bid in lots of 25 equity shares and multiples thereafter. They will have to pay Rs 14,425 for a single lot of Fino Payments Bank at the top price band. Both the BSE and the National Stock Exchange will list the shares. The issue's book running lead managers are Axis Capital, CLSA India, ICICI Securities, and Nomura Financial Advisory and Securities (India), and the issue's registrar is KFin Technologies. Fino Payments Bank raised over Rs 538.78 crore (Rs 5,38,78,18,857) from 29 anchor investors in lieu of 93,37,641 equity shares at Rs 577 each before going public, according to stock exchange data.

Shiba Inu is a decentralised digital token that has recently performed exceptionally well.Their has been on a record rally in recent sessions, gaining over 70% in early trades and currently trading at $0.00007139, up 38% in the last 24 hours. With a market cap of around $40 billion, it is currently the tenth-largest cryptocurrency. Trading in Shiba Inu has been volatile on its way up. The crypto slumped earlier this week after Elon Musk tweeted that he didn’t own the coin. However, the growing clamor for Robinhood Markets to add the Shiba Inu coin to its platform is helping boost the cryptocurrency to record highs. Its price is up around 145% in the last seven days. Other developments and projects surrounding the token have added to its value and attracted the interest of other investors, which is why the token continues to rally despite the current market movement.

Following a brief lull in the number of mega IPOs, PB Fintech, which operates online insurance platform Policybazaar and credit comparison portal Paisabazaar, will launch its 5,710-crore initial public offering on November 1st. The issue's price band has been set at Rs. 940-980 per share. The issue, which will close on November 3, consists of a new issue of 3,750 crore worth of equity shares and a 1,960 crore offer for sale by existing shareholders. According to market observers, Policybazaar shares are currently trading in the grey market at a decent premium (GMP) of Rs. 175. On November 15, the company plans to list on the NSE and BSE, two major stock exchanges. The proceeds of the new issuance will be used to increase the visibility and awareness of the company's brands, as well as to look for new opportunities to expand growth initiatives to increase the consumer base, including offline presence. PB Fintech is the top internet platform for insurance and lending products, offering insurance, credit, and other financial services. The issue's book running lead managers are Kotak Mahindra Capital, Morgan Stanley, Citigroup Global Markets India, ICICI Securities, HDFC Bank Ltd, IIFL Securities, and Jefferies India.

When it comes to your personal finances, the first step is to open a savings account for both short-term and long-term needs. Your deposits are insured up to Rs. 5 lakh by the Deposit Insurance and Credit Guarantee Corporation (DICGC), so it's a safe bet to put your money in a savings account. You'll also get enticing perks like cashback or reward points on ATM or debit card transactions, competitive interest rates for maintaining a monthly average balance with a sweep in, passbook, net banking, or cheque book, and more. When compared to fixed deposit interest rates, savings account interest rates are low, but some banks can offer higher savings account interest rates than fixed deposit interest rates. Despite the fact that leading banks like HDFC, State Bank of India (SBI), Axis Bank, ICICI Bank, and others promise savings account interest rates ranging from 2.75 percent to 3.50 percent, certain small finance banks may offer savings account interest rates as high as 7%, which is something you shouldn't overlook. As a result, we've compiled a list of the top 5 small finance banks that are now offering up to 7% interest on savings accounts, as well as DICGC deposit safety. Ujjivan Small Finance Bank: On domestic deposits with balances ranging from Rs1 lakh to Rs 25 lakhs, Ujjivan Small Finance Bank is currently offering the highest interest rate of 7%. From March 6, 2021, the bank will offer the following savings account interest rates. Utkarsh Small Finance Bank: Utkarsh Small Finance Bank offers a 7% interest rate on incremental balances of more than Rs 25 lakh up to Rs 10 crores, as well as free domestic ATM transactions and NEFT/RTGS transactions. The following interest rates are in effect as of October 1, 2021. Fincare Small Finance Bank: This small finance bank is also offering savings account balances of Rs 1 lakh to Rs 50 crore or more an interest rate of up to 7%. Fincare Small Finance Bank will offer the following savings account rates beginning July 1, 2021. AU Small Finance Bank: Domestic / NRE / NRO Savings Account balances of Rs 25 Lacs to Rs 1 Crore will earn a 7% interest rate from AU Small Finance Bank. As of October 5, 2021, the following are the current applicable interest rates on savings bank deposits. Equitas Small Finance Bank: Equitas Small Finance Bank offers a 7% interest rate on daily closing balances of over Rs 1 lakh and up to Rs 1 crore, with no maintenance charges and a minimum average monthly balance of Rs 10,000. As of August 16, 2021, the following savings account interest rates are in effect.

Systematic Investment Plan Regular Investments wherein one can invest a fixed amount in Mutual Funds scheme at regular intervals. The investment in SIP can be made according to Goals and Requirements. Financial Issues Economic Slowdown has caused problems for people around the country. Market conditions and restrictions due to Covid 19 pandemic have impacted livelihoods. There can be situations when people are unable to pay their SIP Investments due to genuine financial issues. SIP Pause facility Economic Slowdown has caused problems for people around the country. Market conditions and restrictions due to Covid 19 pandemic have impacted livelihoods. There can be situations when people are unable to pay their SIP Investments due to genuine financial issues. SIP will not go inactive if you miss out on an installment or two. Asset/Investment Management Company will not cancel or penalize for missing one or two installments. The cancellation of SIP happens when investor misses SIP instalments for 3 consecutive months. Although Banks can penalize the investor for dishonoring the auto-debit payments. Temporarily pausing the SIP to avoid discontinuation of the scheme. The SIP can be paused for a certain period of 1 to 6 months(depending upon AMC's). Can stop your SIP by sending a SIP Stop Request to them at least10 - 30 days in advance(depending upon AMC's). Submit the request online or offline through an application form. Not every AMC provides the option of pausing the SIP.

1. Joint Home Loan Both the borrowers are eligible to claim benefits. Deduction of up to Rs 1.5-1.5 lakh under Section 80C. Both partners can jointly claim deductions worth Rs 3 Lakhs. Moreover, the total tax deduction on the interest repayment of your Home Loan goes up to Rs 4 Lakh from Rs 2 Lakh. 2.Leave Travel Allowance A taxpayer can avail leave travel allowance for 2 trips within 4 years. If both are taxpayers, then together they can take advantage of 4 travel allowances in 4 years. In this way, they can go on holiday 4 times instead of 2 times. 3.Life Insurance Can claim tax deduction on the premium paid for your spouse’s policy under Section 80C of the Income Tax Act. In a joint insurance policy, you get more benefits at a lower premium. 4. Health Insurance Can save up to Rs 25,000 through Health Insurance Premium. One can get a premium for wife and child. In this, we get exemption under section 80D, either by taking health insurance.

Home Loans are Secured Loans. Home Loans are paid back in the form of Equated Monthly Installments (EMI) In the case of default, the property cannot be seized immediately. Notice is served by the Bank in context of default. Usually, after continuous default for 3 months, Banks treat the loan as Non-Performing Asset (NPA) Consequences of Default Impact on Credit Score – The first thing which will get impacted by the default will be the Credit Score. Impact the Credit History in a negative manner. Other Charges – Late fee or penalties can be levied by the Bank. Higher Interest Rate – In certain cases, the bank can also opt for Penal Interest Rates. Difficulty in Future - Difficult or tougher to get loan. Can be charged higher interest rate. Legal Proceeding - Banks interests are protected under The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFAESI Act). It allows banks and other financial institution to auction residential or commercial properties (of Defaulter) to recover loans. Way Out Contact the Bank - It becomes impossible to repay sometimes because of difficulties like family emergency, job loss, medical difficulty etc. Banks handle genuine issues based on facts of the case. Carry over - In cases where the default is due to unavoidable conditions, one can contact the bank. The banks may allow paying the coupled EMI in the next month. Late fee may be charged. Restructuring of Loan - In cases of long term loans, the banks can be approached with genuine reason. If the banks find the circumstances valid, they can restructure the loan accordingly. Interest Rate - Again depending on the conditions, circumstances and relationship with the lending institution, they can be approached with the request of either reduction or flexibility options in interest rates. These options depend upon the discretion of the Bank/Lending Institution. Loan against investment/insurance - The borrower could also take an unsecured loan, such as a personal loan. There are various loan insurance plans in the market that can cover your EMIs for a short period. Raise funds by disposing of assets - If the unfavorable condition still persists, the amount can also be raised by selling non-productive assets. Loan Settlement - If none of this is possible, contact the Bank for one time loan settlement. Kindly note that loan repaid is not as same as loan settled. The later one is perceived negatively. MyRupaya View Contingency Fund/Emergency Funds - Before you take a home loan, it is advisable to save in an emergency fund amounting to minimum 6 months expenses. This process will always help you sail through the temporary phase. In times of distress, kindly draw up a budget to cut off unnecessary expenses.

Introduction Long back before Demat account was introduced, shares were held in physical formats meaning in actual paper format. There were lot of challenges with the physical format. In 1996, to further avoid this problem, Government of India introduced depository system via Depository Act 1996. The main purpose was to keep up with the world markets in work efficiency as well as to keep a check on frauds. Let’s understand this in a similar manner to that of your Bank account. Your Bank account holds your Money safe for you. In a similar manner, Demat Account holds your shares, bonds, securities etc. in a digitalized manner. Dematerialization Process is the process of converting your physical shares and securities into digital format. Demat account holds all these shares and makes trading easier for us. It is must to have a Demat Account for anyone who wants to deal with financial securities according to SEBI guidelines. It is mandatory if you want to venture out in stock market. Storing in Electronic form of shares eliminates the problem of theft, damage etc. The prevalent issue of forgery is also eliminated. Handling of shares is now safe. It makes the transactional and operational process 100 times easier. It provides us with a single integrated platform. It has other perks like less paperwork, it is more convenient and cost effective. There is no need of multiple channels of communications. Demat Account Before we understand how to open a Demat Account, lets be clear about few terms Depository It is a place where financial securities are held in dematerialized form. It is responsible for maintenance of ownership records. There are two depositories which are functional in India – National Securities Depository Ltd (NSDL) and Central Securities Depository Ltd (CDSL). Investor The owner of the securities is known as the Investor. Depository Participant A Depository Participant (DP) is described as an Agent (law) of the depository. They are the intermediaries between the depository and the investors. Any depository service has to be channeled through the DP. The interaction between Investors and the Depositories happen through Depository Participants. Here the role of Demat Account comes into play as an Investor has to open the account to further participate in the market. Opening Of Demat Account Selection of Depository Participant after comparing w.r.t services and benefits. Properly filing and submitting the form of the DP. Submission of requisite KYC documents such as PAN card, ID proof, Residence proof etc. Then Verification of your KYC documents will happen. At this stage, certain fee needs to be paid in accordance with the policy of DP. After successful Completion of Verification process your account will be opened. A Unique ID will be provided to you. Recently, because of change in market situations due to Covid Pandemic, account opening is now also done via online process. Most of the process remains the same and business is conducted via help of OTP's and providing virtual information. You may have to grant Power of Attorney in favour of your broker and/or DP to operate your account, i.e. make transactions in your bank and DP account and buy or sell shares on your behalf. Caution is advised before signing. Read the document carefully. Documents Required Proof of Identity (POI): Driving licence, Voter’s ID, UID or Unique Identification Number etc. Proof of Address (POA): Passport, Voter’s ID, Aadhaar, ration card etc. Proof of Bank Account: Cancelled cheque leaf can be provided for this purpose. PAN Card Photographs Proof of Income: It is mandatory to submit income proof if you wish to trade in Futures and options.

Last October, LIC Jeevan Shanti was launched, offering a lucrative annuity plan. After the deferment period, an annuity plan, also known as a pension plan, will secure your future. Annual, half-yearly, quarterly, and monthly annuities are available. What is the LIC Jeevan Shanti Plan, and what does it cover? The LIC Jeevan Shanti is a single premium deferred annuity plan that allows the subscriber to choose between Single life and Joint life options. It's a deferred plan, which means you'll get your pension after a set period of time, as opposed to an immediate annuity plan, which begins as soon as you begin investing. As a result, the annuity rate will be guaranteed at the start of the policy, and annuities will be paid after the deferment period has ended for the rest of the annuitant's life (s). It's a non-linked plan, which means it won't be affected by market fluctuations or underlying asset performance. Benefits of both Single and Married Life If the policyholder survives the deferment period, no payment will be made. The death benefit will be paid if the policyholder dies. After the deferment period, however, annuity payments will be made in arrears for the rest of the policyholder's life. The annuity payments will stop immediately if the policyholder dies, while the death benefit will be paid to the nominee (s). If the Primary Annuitant and/or Secondary Annuitant survives during the deferment period, the death benefit will be paid to the nominee, but if the last survivor dies, the death benefit will be paid to the nominee (s). Price and eligibility for purchase Under this pension plan The minimum purchase price is Rs. 1,50,000, which is subject to the minimum annuity, while the maximum purchase price is unlimited. The minimum entry age for LIC Jeevan Shanti is 30 years, and the maximum entry age is 79 years. The minimum and maximum vesting ages, on the other hand, are 31 and 80 years, respectively. A policyholder's minimum deferment period will be one year, and their maximum deferment period will be twelve years, both subject to the maximum vesting age. However, LIC states that if the pension policy is purchased for a dependent person with a disability, the proposal will be accepted without any minimum annuity restrictions, and the minimum purchase price will be Rs. 50,000 in such cases. Calculation of Annuity The following calculation shows the annuity benefits (annuity amount payable - INR) of the planning, taking into account the purchase price of Rs. 10 lakh (excluding taxes), the age of the annuity at 45 years, the deferment period at 12 years, and the age of the secondary annuitant at 35 years. Benefits after Death In both single life and joint life options, death benefits will be the higher of the purchase price plus accrued additional benefit on death minus total annuity amount payable till death - if any, or 105 percent of the Purchase Price. Furthermore, the monthly annuity rate PA will be equal to the annuity rate per unit Purchase Price applicable for monthly mode, without any incentive, and will be determined by the Option selected, the annuitant(s)' age at entry, and the deferment period selected. If the policyholder dies during the deferment period, an additional death benefit for the policy year in which the death/surrender occurred will be accrued until the policy month is completed, or until death.