The Securities and Exchange Board of India (SEBI) has extended the deadline to implement the guidelines related to making direct payment of securities mandatory in the demat accounts of investors till November 11. This rule was originally to come into effect from October 14.
Investment in equity mutual funds decreased by 10%
Equity mutual fund schemes received an investment of Rs 34,419 crore in September, which is 10 percent less than in August. According to AMFI, September has been the 43rd consecutive month of net inflows in equity funds.
Center gives Rs 1,78,173 crore to states before festivals, UP gets the most
The central government has released Rs 1,78,173 crore to the state governments keeping in mind the upcoming festivals. This includes an advance installment in addition to the regular installment payable in October 2024. This will accelerate the capital expenditure of the states and will help in their development and welfare related expenditure. Uttar Pradesh received the highest amount of Rs 31,962 crore from the Centre, followed by Bihar at Rs 17,921 crore, Madhya Pradesh at Rs 13,987 crore and West Bengal at Rs 13,404 crore. The transfer reflects the focus of the central government on maintaining a steady flow of financial resources to the states. The decision of the ministry was taken after a high-level meeting with the Finance Secretary and the Secretary of the Department of Economic Affairs. Among the northeastern states, Meghalaya received Rs 1,367 crore, Tripura Rs 1,261 crore and Manipur Rs 1,276 crore. As India grapples with the complexities of global economic dynamics, the focus of the central government on providing financial assistance to the states is significant.
