Tag: NS Venkatesh

Budget 2020: How your personal finances are going to be impacted after February 1?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Expectations of people from the Finance Minister Nirmala Sitharaman is sky high. Sitharaman will present the government’s annual financial statement on February 1. All eyes are on who is going to get what from the annual financial event. What will this union budget 2020 mean for your finances?

Kamlesh Rao, managing director and CEO of Aditya Birla Sun Life, said he thinks more money is going to come into the hands of customers.

“The other thing I would watch out for is whether the fiscal deficit stands because with so much announced, I don’t know whether the stance is going to be accommodating or is going to start a little worrying about it and I think from a market point of view it is really good time to look at whether LTCH which got launched did it do any benefit.”

Ishita Sengupta, partner for personal tax at PwC India,  said rationalisation of slabs more than the rates would do a lot of good because everybody is talking about increasing in purchasing power, pushing up demand so that would go a long way.

Aashish Somaiyaa, managing director and CEO of Motilal Oswal AMC, said: “Frankly, there is not much choice, it has to be expansionary. The reason is because you will have deficit with growth or you will have deficit without growth that is the choice you have to actually make.”

Right now fiscal deficit is going up without growth, the only way to get that deficit in control probably mid- to long-term perspective is to get the growth back, Somaiyaa added.

NS Venkatesh, , chief executive officer of AMFI, said: “It will be a pro-growth Budget definitely because growth is at abysmally low levels so definitely the impetus will be on growth. So whatever is required whether it is through investments or through may be putting money in the hands of people by tax cuts that will definitely play a major part.”

The big headlines could be a personal income tax cut which can happen and maybe a long term capital gains tax cuts that can happen, Venkatesh added.

CNBC-TV18’s Money Money Money gets you the all-round details about the Budget developments. For more details, watch the video.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Money Money Money Podcast: Will the union budget 2020 put more money in your hands?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Will the union finance minister Nirmala Sitharaman put more money in the hands of consumers? Will there be a cut in personal income tax? What will this union budget 2020 mean for your finances?

As we countdown to the mega event, Money Money Money gets you the all-round expectations from budget with Aashish Somaiyaa, managing director and CEO of Motilal Oswal AMC; Kamlesh Rao, managing director and CEO of Aditya Birla Sun Life Insurance, Ishita Sengupta, partner for personal tax at PwC India and NS Venkatesh, chief executive officer of AMFI.

Listen to the full story in our latest podcast:

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Budget expectation: Want rationalisation between ULIPs & MFs, says AMFI

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Flows into equity mutual funds have improved after falling to a 3.5 year low in the previous month. NS Venkatesh, CEO of AMFI is of the view that MF flows will pick up more after the union budget.

“It is a little bit of a green shoot that you are seeing there where essentially small improvements are being noticed aided by the budget expectations. So if the budget comes out the way the investors have thought, you will see more money coming into the equity markets, and consequently more money coming into the equity funds as well,” said Venkatesh in an interview with CNBC-TV18.

The flows are expected to pick up after February, he said.

When asked about their wish-list from the budget, he said, “Industry essentially wants rationalisation between ULIPs & MFs – it should be on the common front.”

“Our expectation is that just like equity linked savings schemes, we should also have a debt linked savings schemes, which will help funding the infrastructure projects of this country,” he added.

Thirdly, like 54EC specified assets,  maybe you can make mutual fund units as specified asset, so the capital gains that people get out of the markets they can reinvest it in to their 54EC specified assets, which is a mutual fund. ”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Money Money Money Podcast: 2019 year-end special

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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As 2019 draws to a close, we focus on key lessons learnt in the year gone by and how to manage money in the coming year.

NS Venkatesh, chief executive officer of AMFI and Nimish Shah, head of investments, BNP Paribas Wealth Management are the guests on the show.

Listen to the full story in our latest podcast:

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

These are the three men who will help the DHFL administrator in bankruptcy proceedings

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Reserve Bank of India on Friday has appointed a three-member Advisory Committee to assist the administrator of Dewan Housing Finance Corporation Ltd (DHFL) in the discharge of duties. The three members of the Advisory Committee include Dr Rajiv Lall, NS Kannan and NS Venkatesh. Lall serves as the Non-Executive Chairman in IDFC First Bank Ltd, while Kannan is Managing Director and Chief Executive Officer at ICICI Prudential Life Insurance Co. Ltd. Venkatesh is the Chief Executive of the Association of Mutual Funds in India.

Here’s a brief profile on all the three men who will help the DHFL administrator in its bankruptcy proceedings:

Dr Rajiv Lall: Dr Lall is the Non-Executive Chairman of IDFC Bank. He was the founder MD and CEO of IDFC Bank from October 1, 2015 till December 18, 2018. Previously, he was the executive chairman of IDFC Limited. A veteran economist with 30 years of experience, Lall has been an active part of the finance and policy landscape, both in India and internationally. In his diverse career, he has also held leadership roles in global investment banks and multilateral agencies. His expertise spans project finance, private equity/venture capital, international capital markets, trade, infrastructure and macroeconomic policy issues, with a particular focus on emerging markets including India and China.

NS Kannan: An IIM Bangalore alumnus, Kannan started his career 27 years ago with ICICI Bank as a project officer. He has been the executive director of the bank since 2009 and has worked across functions that include finance, treasury, corporate legal, operations, risk management, secretariat, corporate communications, corporate branding and strategic solutions group. Between 2009 and 2013, Kannan was the executive director and chief financial officer (CFO) of ICICI Bank, having spent his time working in the treasury of the bank as well. Prior to his appointment as CFO, he also served as executive director of ICICI Prudential. Earlier on June 19 this year, Kannan was appointed MD and CEO by the board of directors of ICICI Prudential Life Insurance Co.

NS Venkatesh: Venkatesh was appointed as chief executive of the Association of Mutual Funds in India (Amfi) in late October 2017, after CVR Rajendran stepped down from his position. Before joining Amfi, Venkatesh served as the executive director at Lakshmi Vilas Bank. Before that, Venkatesh served in IDBI for over 19 years, holding several positions, including that of CFO and executive director.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

DHFL resolution plan: RBI appoints 3-member Advisory Committee to help the Administrator

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Reserve Bank of India on Friday has appointed a three-member Advisory Committee to assist the Administrator of Dewan Housing Finance Corporation Ltd (DHFL) in discharge of duties. The three members of the Advisory Committee include, Dr Rajiv Lall, NS Kannan and NS Venkatesh. Lall serves as the non-executive chairman in IDFC First Bank ltd, while Kannan is managing director and chief executive officer in ICICI Prudential Life Insurance Co. ltd. Venkatesh is chief executive in the Association of Mutual Funds in India.

The RBI also said that “the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 provide for the concerned financial sector regulator appointing a Committee of Advisors to advise the Administrator in the operations of the financial service provider during the corporate insolvency resolution process.”

ALSO READ | If DHFL heads to IBC – What are the odds of a successful resolution?

The RBI superseded the Board of Directors of DHFL owing to governance concerns and defaults by DHFL in meeting various payment obligations.

The central bank also appointed R. Subramaniakumar, ex-MD and CEO of Indian Overseas Bank, as the administrator of DHFL under Section 45-IE (2) of the Reserve Bank of India Act, 1934.

With the RBI’s decision, DHFL is set to become the first non-banking financial company (NBFC) to be referred to the National Company Law Tribunal (NCLT) under new rules notified by the government.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Expect SIP flows to touch Rs 9,000 crore once market revives, says NS Venkatesh of AMFI

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Inflows into equity mutual funds in August saw a growth of over 12 percent compared to July.

Total inflows crossed the Rs 9,000 crore mark with largecap and smallcap funds garnering most of the money. But, midcap funds saw a contraction of over 20 percent. Yash Jain spoke to NS Venkatesh, the CEO of the Association of Mutual Funds in India (AMFI) to find out more about the latest data.

Venkatesh said, “The total inflows is around Rs 1,02,000 crore. Out of that Rs 79,000 crore is coming from the liquid funds. Having said that I would say that essentially the equity schemes have all got good inflows. So, compared to July, the August numbers look better. So, that shows some sort of renewed interest coming into the equity side and investment is happening and it is distributed across largecap, midcap, smallcap etc.”

He further added, “SIP flows are at around Rs 8,200 crore. However compared to July it is little bit less – around Rs 96 crore less. However it shows that there is a stability – above Rs 8,200 crore over the last 6-7 it has been showing that stability. It has not plateaued but it has shown good signs of resilience despite the market conditions to stay above Rs 8,200 crore. So, once the market starts showing signs of revival and moving up, the SIP flows will start touching Rs 9,000 crore and beyond Rs 9,000 crore as well.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow