How is investing in Gold ETF better than jewellery?

Here are the top personal finance news of the day.

CPI inflation has fallen for fourth month in a row and has come at 4.25% in May, 2023. This is the third month in a row that retail inflation has remained within tolerance band of the Reserve Bank of India. On the back of low inflation in vegetables, oil and fats and meat and fish, and transport and communication retail inflation has fallen for fourth month in a row in May, 2023. Both rural and urban inflation have fallen to lower than 5%. CPI inflation in May’23 is not at 25 month low level. In other data, the index of industrial production rose 4,2% in April against 6.7% in the same period last year.

iPhone 15 Pro models to be Rs 16-17k costlier

1a..Big news on iPhone 15. According to media reports, iPhone 15 models may be costlier by up to 16 to 17,000 rupees than its predecessor. Currently, base model of iPhone 14 costs 65,861 rupees in India. But the Pro and Pro max models costs more than 1.27 lakh rupees. But price of Pro models of iPhone 15 will be even higher by somewhat 17,000 rupees. These predictions are made the US tech giant Dan Ives. He is the same person who had correctly predicted iPhone 14 prices before its launch. But iPhone sale in India is not expected to get hit by the anticipated price hike. During his India visit, Apple CEO Tim Cook had said that India’s middle class was evolving. And Apple was highly optimistic with more and more middle class families grabbing Apple’s flagship product.

Prabhudas Lilladher bullish on this stock

Prabhudas Lilladher has suggested buying and accumulating stock of Samvardhana Mothersone for an upside target of 97 rupees. The brokerage firm has suggested a stop loss of 79 rupees. The brokerage sees immense upside potential in the stock from current levels. According to the brokerage firm, the stock has given a breakout signal above 82 rupees. Overall the brokerage has maintained strong outlook on the stock.The brokerage says chart also looks attractive. RSI looks well placed. The stock is currently trading in a strong zone. On Monday, the stock closed more than 2% in green at 83 rupees apiece.

FIIs remain net buyers of equities in CY24

FPIs have been net buyers of India ‘s equity markets so far in current financial year. FIIs have bought shares worth 39,000 crore rupees in Indian equities so far. . According to experts, FIIs have been net buyers because of strong economic growth and attractive valuations of stocks. According to experts, FPIs may continue buying financial and auto sector stocks. Smallcase manager, Mayank Mehraa, said the outlook for FPI flows in the rest of June is positive. While, Himanshu Srivastava, of Morningstar India, said, valuation could become a concern as Indian markets continue to surge.

Not only FIIs, RIs too maintain positive equity inflow

Not only FIIs, mutual funds too have been continuing their positive stance on domestic equities. Mutual funds have been net buyers of equities in last two consecutive months of April and May. FIIs too have been heavily investing in India’s equity market. So, what is making investors go highly bullish on stock market. Anand Rathi Wealth said positive macro numbers and current fair value of Nifty is driving mutual fund investment in India. This will increase liquidity in the market and enable strategic exits and profit-booking opportunities. Just like FII, mutual funds too have mostly picked up take in financial, auto and and capital goods stocks.

You can’t buy insurance if you don’t have this ID

If you are an insurance policyholder, this news is very important for you. Now, it will be mandatory for you to create an Ayushman Bharat Health Account or ABHA to buy insurance policies. The Ayushman Bharat Health Account is commonly known as ABHA . The Insurance Regulatory and Development Authority of India has directed insurance companies to ensure that both existing and new policyholders obtain an ABHA ID. Under this government scheme, citizens’ health-related information is collected at one place. ABHA Card maintains records of all health-related information of citizens. All medical records of citizens are stored in the Ayushman Bharat Health Account. Anyone can get this card; there are no eligibility criteria.

Bank of Baroda loans get costlier

Bank of Baroda has raised rate of interest on various types of consumer loans like home loans, personal and auto loans. The public sector bank has hiked its one year MCLR to 8.65%. The interest rates on various types of loans are tied up with 1 year MCLR of banks. With the public sector lener raising its 1 year mclr, various types of consumer loans will become costlier.

PNB promises golden year for investors

If you have invested in Punjab National Bank, then, this news is for you. The state owned bank has said that the current financial year will be a golden year as it will look to adopt multi-pronged strategy to change its fortunes. It will be looking to increase market share, jack up CASA ratio apart from taking numerous strategy changes. It will look to improve its asset quality, minimising slippages, etc. In FY23, PNB had clocked a net profit of 2,507 crore rupees. It had registered impressive growth in net interest income as well.

AAP hikes fuel prices twice in last six months

Petrol and diesel prices increased in Punjab by almost one rupee after the AAP government hiked VAT imposed on fuel. Retail prices of petrol in Mohali will now be 98.95 rupees a litre and of diesel to is 89.25 rupees per litre. Earlier, in February, the AAP government had also imposed a cess on both petrol and diesel. Hiking fuel prices that time as well. This move has driven a sharp reaction from the opposition parties. The opposition parties said it would put an additional burden on the common man and farmers. They have called for immediate rollback of VAT on fuel.

This policy will ensure you till you turn 100 of age

Max Life Insurance has rolled out a new life insurance savings plan where the insuree will get the facility to withdraw funds in first year of policy itself. Insuree will also get retirement income after he attains 65 years of age. The plan will cover 40 years of his life. The insuree will continue to get cover till he attains 100 years of age. There are different tenure options that customers can choose. Other striking features include maturity benefits, survival benefit, option to avail loans, accidental death benefit, etc. Women and transgenders will get more maturity benefits. The plan is known as Smart Wealth Advantage Growth Par Plan. It is a non-linked participating individual life insurance savings plan.