Exploring Untapped Potential of Mutual Funds

The Mutual Fund industry has seen unprecedented growth in the past 3 years. In November 2016, total assets managed by mutual funds touched a record high of ?16.5 lakh crores rupees, a year on year growth of 27%.

Total number of folios in India also reached a record number of 4.7 crore. However, mutual funds still suffer extremely low penetration in India. A 7% share of Assets under Management (AUM) of Mutual Funds to GDP is significantly lower than some other emerging economies like Brazil (42%) and South Africa (33%).

Introducing Direct plans of mutual funds

MoneyFront aims to highlight the true potential of mutual funds to investors by firstly adopting the no-conflict option of direct plan of mutual funds. Direct plans are an alternative to the regular plans of mutual funds where you can skip the distributors and agents and invest directly with the Fund House.

Exploring Untapped Potential of Mutual Funds A direct consequence of this is an increase in returns by up to 1.5% annually, as the commissions paid to the distributors/agent are not charged to the scheme. MoneyFront, in its endeavour to provide maximum benefits to clients offers only ‘Direct Plans’.

For investors who are not well-versed about mutual funds or who need help with their asset allocation, MoneyFront also offers investment advisory that provides model portfolios and scheme recommendations tailor-made to the investor’s financial goals and risk tolerance levels. Over and above that, the investors have access to a vast library of news, views, developments, and statistics related to mutual fund schemes and everything else that impacts them.(read more...)

Why are More People Applying for Personal Loans?

Why do people prefer Personal Loans

There are many factors that make Personal Loans more attractive.

• Easy to get: Personal Loans are easier to obtain than many other types of loans.
• Flexible usage: You can use the funds in a variety of ways. You can use it to pay for a vacation or a medical emergency. You can use it to fund a wedding, renovate a house, and more.
• Quick process: It can take as little as three days to get approval for a Personal Loan. Just make sure you have all the necessary documentation.
• No collateral: Personal Loans are unsecured loans. In other words, they are not backed by any collateral. This helps reduce the documents required for your loan application or even the duration of the vetting process.

You can even apply for a Personal Loan from the convenience of your home. All you need to do is visit the lender’s website. An application for a Personal Loan from Bajaj Finserv , for instance, usually takes seconds for approval and you can get funds of up to Rs.25 lakh in as little as 72 hours.

The bottom line

Personal Loans are popular today, but it is important that you opt for a professional lender to avail financing. Keep the various factors in mind when you apply for a Personal Loan and take the first step towards fulfilling your financial goals. (read more...)

Economic blockade will not impact Manipur poll process: CEC

Supply of essential commodities including fuel to Manipur has been severely hit since November 2016

Manipur Elections 2017 : The Election Commission is confident that the economic blockade in Manipur will not impact the poll process in the state and has made all arrangements to ensure free and fair elections.

"We have all the data from our state election machinery. We are confident that the economic blockade will not impact the poll process in the state. The state government has also assured us. We will get cooperation from all the sections," Chief Election Commissioner Nasim Zaidi said.

An indefinite economic blockade imposed by the United Naga Council (UNC) since November 1, 2016 is on in Manipur, against the state government's decision to create seven new districts in the landlocked state by bifurcating the existing ones. The state government has, however, claimed that this decision was taken to improve administrative efficiency.

Supply of essential commodities including fuel to Manipur has been severely hit since November 2016 after the council declared indefinite economic blockade on NH2 (via Dimapur) and NH 37 (via Jiribam) -- the two lifelines to the state.

Asked how the Election Commission will ensure smooth movement of election officials and security personnel as the state is hit by fuel shortage, Zaidi said, "We have undertaken a very in-depth review with our district officials and also with the state officials. As far as the election process is concerned there is a priority and sufficient availability of petrol, diesel for poll process. There would be no problem regarding it and all poll personnel will assist us." Read more

Rahul, Akhilesh to hold roadshow in Modi's constituency Varanasi on Feb 27

Rahul Gandhi and Akhilesh Yadav will hold a joint roadshow in Varanasi on February 27, taking the battle to Prime Minister Narendra Modi's Lok Sabha constituency.

Preparations for the roadshow are in full swing and leaders of the Congress and the Samajwadi Party have been camping in Varanasi for the past few days.

Varanasi goes to poll in the last of the seven-phase Assembly election in Uttar Pradesh on March 8.

The route of the roadshow of Congress vice-president Gandhi and Uttar Pradesh Chief Minister Yadav will be finalised soon, state Congress spokesperson Satish Rai said.

Former Rajasthan Chief Minister Ashok Gehlot, who is the chief coordinator of Uttar Pradesh Congress Committee, is expected to reach the city in the next two days to oversee the preparations for the roadshow.

The BJP too geared up its campaign in the area. After addressing rallies in eastern districts, BJP president Amit Shah visited the city, besides other leaders.

Here is what Airtel, Idea and Vodafone are offering to counter Reliance Jio

Old telcos have sweetened their offerings considerably to take on the Reliance Jio challenge

Reliance Jio made a big announcement on Tuesday following which the road ahead doesn't look smooth for rivals Airtel, Idea Cellular, Vodafone, among others. Although the free services provided since its launch, including 1GB data at 4G speeds every day, unlimited voice calls and unlimited text messages will be over after 31 March, the operator has introduced a new plan called Jio Prime which will allow users to avail the facilities for another year at a nominal price.

Here are the key points:

• Membership: Jio Prime membership is limited to the 100 million existing Reliance Jio users as well as those who join the network before March 31, 2017.
• Cost: All Jio members can enroll prime membership for a one time fee of Rs 99 (which is valid for one year). Additionally, to get the free mobile data and other benefits, users will need to pay another Rs. 303 per month for the next 12 months (which amounts to Rs 10 per day, approximately).
• Subscription: To subscribe, users can go to any Jio store or Jio partner store. Besides, MyJio app and Jio 4G LTE Network website can also be used.

Read more : CBFC office vandalised in Hyderabad for 'not clearing' a Telugu film

• Commencement: Users can start subscribing to the plan from March 1. It will end on March 31.
• Offers: Under the plan, unlimited mobile data for a year (1GB daily FUP limit), media and content benefits associated with the Jio apps suite are available. "There will be many other attractive deals and offers from both Jio and its partners (for) the Jio Prime members," a statement released by the company said. Like the current offer, Jio Prime will also reduce the internet speed to 128kbps after the 1GB data per day limit is crossed.
• Users who do not subscribe: Reliance Jio users who opt not to subscribe the Jio Prime membership will have to pay for data and other services, but not voice calls (including on roaming).

A quick look at the offers provided by Vodafone, Airtel and Idea: (more)

Read more : Free run ends for Jio users on 31 March but Reliance keeps goodies rolling

Md Siraj asks father to stop driving autos after bagging Rs 2.6 cr IPL deal

He also wants to buy a house for his family

IPL 2017 : The Indian Premier League (IPL) 2017 auction spread smiles in a Hyderabad neighbourhood. There was a good reason too. Mohammed Siraj, the younger son of auto driver Mohammed Ghaus was picked up by Sunrisers Hyderabad for a staggering Rs 2.6 crore.

As reporters made a beeline outside the cricketer's modest rented family house, he explained how he plans to use his money now."My father drove auto all these years but never let financial pressure of the family affect me or my elder brother. A bowling spikes costs a lot and he would just get the best for me. I want to buy a house for them now in a good locality," Siraj told The Quint.

While Siraj wants his father to stop driving autos, his father wishes otherwise. "I will drive the auto as long as I have the strength. Why should I depend on sons?" Ghaus was quoted as saying by Mumbai Mirror.

Interestingly, Siraj was often admonished by his mother Shabana Begum who worked as a house maid for showing lack of interest in studies. He discontinued studying while in intermediate, whereas, his brother went ahead to become an IT professional.

"He brought many mementos and sometimes cash prizes as well. However, I never knew he would become so big. It's all God's blessings," the proud mother told Mumbai Mirror after the auction.

Although his family did not keep a track on his career properly, Siraj slowly earned the reputation of a pacer in Hyderabad cricket circle. Read more

UP elections 2017: Poll promises have not changed in 15 years; here's why

Pihani, a cluster of villages near Lucknow, illustrates why the state has not developed

Pihani, UP Elections 2017 : For 16 years, Kailash Rai (not his real name), 49, has been commuting six hours every working day between his home in the state capital Lucknow and the government degree college where he teaches in Pihani, 135 km to the northwest.

A political-science lecturer, Rai cannot move with his family to Pihani, a cluster of over 100 villages (called a kasba) in Hardoi district, with less than 40,000 families as per Census 2011. When he started working there in 2000, it lacked the basic public facilities–regular power supply, good roads, public transport and good medical services.

Pihani remains an economic backwater. In the ongoing assembly elections, UP’s incumbent and contesting politicians are still promising the basic facilities they did 16 years ago: Electricity, buses and jobs, along with laptops and free data for poor youth.

a government degree college, a state-run industrial training institute (ITI) and two private degree colleges–more than the Indian average of 27 colleges per 100,000 youth in the 18-23 age group, according to the All India Survey on Higher Education (AISHE) 2014-15. But it has been unable to produce talent to run local educational institutions, banks and medical centres.

UP has the highest number of colleges in any Indian state (6,026), according to AISHE 2014-15, but it has been unable to produce qualified workforce to drive development, as IndiaSpend reported on February 11, 2017.

UP is India’s most populous and youngest state–its median age is 23–and the flaws in its development model typified by Pihani explain why its towns and village clusters (blocks with a population of less than 250,000 in 2011) cannot cope with the aspirations of its people, especially with regard to education and employment.

Pihani’s dropout rate of 36% at elementary school level exceeds UP’s overall rate of 21%. Like other village clusters in the state, connections to bigger cities are limited because there are few railway links, hardly any feeder roads to highways or efficient public transport services. Less than half the houses in the villages have electricity. (more)