New fund offers are gaining popularity just like the equity mutual funds. In August 2024, the mutual fund industry saw new fund offer (NFO) inflows totaling Rs 13,815 crore, spread across 18 NFOs. This was a decrease from the Rs 16,565 crore invested in 15 NFOs in July 2024. Of the 18 NFOs launched in … Read more
The Indian economy kept its momentum, growing nearly a percentage point higher than expected at 7.6% in the second quarter, buoyed by the manufacturing and construction sector, with experts suggesting an upside to the full-year number. “Given the higher than forecast outcome for Q2, we are revising our FY2024 growth forecast to 6.2% from 6.0%,” … Read more
Saugata Bhattacharya, Chief Economist, Axis Bank, says “manufacturing, if it actually stalls, in addition to the agricultural uncertainty, given the low rains that we have seen in August, might actually pull GDP growth even lower than the 6.2% that we have been expecting and forecasting for Q2. That is likely to pull down overall annual … Read more
Synopsis Of the $28 billion added to India’s foreign exchange reserves during April-June, $20 billion is through export earnings, while $8 billion got added on account of valuation gains, the Reserve Bank of India (RBI) data shows. By Gayathri NayakMUMBAI: India’s external account is seeing its best year since the balance of payments (BoP) crisis … Read more