FIXED INCOME


IANS 19 August 2016
In a bid to develop a strong corporate bond market in India, an expert group on Thursday suggested standardisation of corporate bond issuance, relaxing norms for allowing foreign investments, creation of a bond index and encouraging corporates to tap the market.   A report of the...

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The Reserve Bank of India (RBI) had fixed the issue price of sovereign gold bonds (SGB) at Rs3,119 per gram (gm) for the fourth tranche of subscription (from 18 July to 22 July 2016). It was the first offering in the current financial year. To make the scheme attractive, capital gains tax...

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Fixed maturity plans (FMPs) were a good product to buy in March 2013 when you could get double indexation benefit, if you held them for at least 13 months, especially in a situation of stable or falling interest rates. However, the Union Budget of FY14-15 made them unattractive. Now, you will...

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Edelweiss Housing Finance’s public issue of secured redeemable non-convertible debentures (NCDs) worth Rs500 crore opened on 8th July and it closed on 12th July, on over-subscription. The allotment is on a ‘first-come-first-served’ basis. It offers attractive interest rates of up to 10% for...

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Saurabh Dugar 14 July 2016
Indian curry is quite a hit in the West. On a similar note, can global investors be tempted to try out Masala bonds? That is something the Indian Railway Finance Corp, which approved the raising of $1 billion through the issue of Masala bonds and other companies such as Indian Rail Finance...

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Debt mutual fund schemes are expected to perform well in periods of declining interest rates. Over the past year or so, the Reserve Bank of India (RBI) cut interest rates by 150 basis points (bps), to 6.50% as on 31 May 2016, from 8% at the beginning of January 2015. This should have been a...

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Public provident fund (PPF) has now become flexible. The government has allowed premature withdrawal after five years, subject to requirement of funds for treatment of serious ailment or life-threatening disease to the account-holder, spouse or dependent children. Supporting documents from...

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Reliance Jio Infocomm Limited (RJIL) on Thursday said its Rs2,000 crore Non-Convertible Debentures (NCDs) issue was oversubscribed with a total book size in excess of Rs3,500 crore.   The subsidiary of Reliance Industries Limited (RIL) on Thursday issued NCDs of five year tenure...

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Abhirup Ghosh  and   Saurabh Dugar 06 July 2016
The regulators in India continue to make changes to streamline the regulatory regime surrounding the Indian bond market. Lately, there has been a number of changes which is likely to cause a positive impact, which otherwise has been performing well during the last one year. There seems to be...

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Those using the saving instrument of bank fixed deposits (FDs) face the pinch of taxation on interest, especially if they are in the 20% or more tax bracket. One of the investment options to reduce the taxation burden is fixed maturity plans (FMPs) offered by asset management companies (AMCs)...

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Moneylife Digital Team 10 June 2016
Market regulator SEBI (Securities and Exchange Board of India) ordered Neesa Technologies and seven of its officials to refund the money which it had raised illegally from investors and also barred them from the securities market for four years. These entities had raised Rs5.96 crore through...

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The new rules for Sukanya Samriddhi Yojana (SSY) issued by the finance ministry in March 2016 exclude non-resident Indians (NRI) and overseas citizen of India (OCI). SSY will allow investment only if the girl child is a resident Indian citizen. It is possible that the SSY account was opened...

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Tax-free bonds issues in FY15-16 in primary market got a tremendous response from investors. Several issues got oversubscribed on the first day itself. The coupon offered was around 7.30% for a 10-year term and 7.60% for a 15-year term. With no new tax-free bonds issues in sight for the...

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Every now and then, we come across cases involving public limited companies failing in their obligation to repay the deposits taken from investors. Presently, well-known companies like Helios & Matheson, Jaypee Associates and several others have badly let down thousands of small investors...

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Depositors continue to struggle to get their money back from certain companies   The bad news for those who invest their life’s savings in unsecured corporate fixed deposits (FDs) is that the government doesn’t really care about their plight. On 10 February 2016, Moneylife Foundation...

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The recent rate cuts are in line with declining G-Sec yields   PPF (public provident fund) interest rates have been reduced from 8.7% to 8.1%, effective 1 April 2016. PPF is in the EEE (exempt, exempt, exempt) category and, hence, the steep cut should not change the investment...

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New Delhi : In a decision that evoked immediate uproar by the salaried and self-employed class, the government on Friday slashed the interest rates on public provident fund (PPF) from 8.7 percent to 8.1 percent, soon after retracting the unpopular proposal to partially tax...

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Both NABARD and IRFC are offering 7.64% for 15-year tax-free bonds. NABARD bonds opened today, while IRFC will open on 10th March. The trend in recent issues may see both the issues being oversubscribed on the first day itself   The National Bank for Agriculture and Rural Development...

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More tax-free bonds are coming.   There will be a few opportunities to buy tax-free bonds till the end of FY15-16. National Bank for Agriculture and Rural Development (Nabard) is expected to raise Rs3,500 crore; it should be an interesting opportunity especially since Nabard has not...

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Moneylife Digital Team 17 February 2016
Moneylife Foundation has sent a memorandum to Arun Jaitley, highlighting how high profile companies like Helios Matheson and Jayprakash Associates have left their FD holders in a lurch   Tens of thousands of investors, including senior citizens, are stuck with fixed deposits in...

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