Dilip chaturvedi. 1;000

[News9 @News9Tweets]

#Markets close at record high, #Nifty ends above 23,200 mark, #Sensex above 76k. How will markets open on counting day? News9's @krishnaksays and @suyashm9 bring you the latest updates.

@Mohit_Gang @GeojitFinancial #ShareMarket #StockMarket https://t.co/5PXPWyJfa9

[Mohit Gang @Mohit_Gang]

AMFI has come out with EOP-1 guidelines after SEBI released its EOP guidelines for online MF platforms in Jun'23.
Prima facie AMFI has tried its best to make life as difficult (if not more) as it was under the RIA regulations, for corporate RIAs having online Direct Plan platforms.

One thing which befuddles is that regular plan providers in this country can run digital platforms without any restrictions or guidelines. But all rules are only for Direct Plan platforms even if they chose to be merely "execution" platforms.

Heres a quick gist:

1) Need to have a compliance officer & 2key managerial personnel

2) Need to have a 1 cr net worth at all times

3) Have to integrate directly with RTAs or AMCs. Cant use exchange platforms.

4) Cant offer regular plans on the same platform. So platforms of MFU, CAMS, Kfintech, MF Central will have to segregate

5) IT logs to be kept for all kinds of txns

6) Records of all txns to be kept - even failed ones.

7) Orders of clients have to be immediately & directly processed and cant be bunched together

8) EOP cant be involved in any campaigns, contests etc

9) Cant ask clients to buy/Sell funds !

My simple one line request to @amfiindia is - Why not put all these conditions uniformly on all online/digital platforms whether offering Direct or Regular plans. How does offering Direct make one 'holier than thou' and why should they be the only ones to pass this litmus test ?
Where is the simplicity & ease if one choses to be execution only platform, which is why SEBI introduced this guideline in first place.

@NileshShah68
@ActusDei
@mohanty_swarup
@MFBALA
@iRadhikaGupta

#mutualfunds #personalfinance #investing #digitalplatforms

[Moneyfront @moneyfront]

Economic growth for the current year is estimated at 7%.

#Budget2023 #BudgetSession #UnionBudget2023

[Mohit Gang @Mohit_Gang]

Some amazing data points given by the #FinanceMinister

11.7 Cr HH has got Toilets
9.6 Cr LPG conmections
220Cr Covid vaccines given
48.7 Cr Jan-Dhan accts opened
44.6 Cr Ins cover given
2.2 Lac Cr of cash trf to 1.4 Cr farmers

#Budget2023 #IndianEconomy

[Moneyfront @moneyfront]

Free food grains for the next 1 year - the expense of 2 lakhs Cr to be made by the center.

#Budget2023 #BudgetSession

[Moneyfront @moneyfront]

India's per capita income has doubled to Rs. 1.97 lakhs.

#Budget2023 #BudgetSession #UnionBudget2023

[Moneyfront @moneyfront]

Promotion of Tourism to be taken up via PPPs.

#Budget2023 #BudgetSession #UnionBudget2023 #tourism

[Moneyfront @moneyfront]

New Green policies to reduce carbon footprint and increase green awareness.

#Budget2023 #BudgetSession #UnionBudget2023

[Moneyfront @moneyfront]

Agri accelerated fund to be set up for Agri startups.

#Budget2023 #BudgetSession #UnionBudget2023

[Moneyfront @moneyfront]

"We saw Rs. 1.24 lakh crore worth of UPI transactions in 2022," says Finance Minister.

#Budget2023 #BudgetSession #UnionBudget2023 #UPI

[Moneyfront @moneyfront]

Agriculture Credit Target to be increased to Rs. 20 lac Cr.
Hugely positive for the overall agricultural sector in India.

#Budget2023 #BudgetSession #UnionBudget2023 #agriculturalsector

[Moneyfront @moneyfront]

157 nursing colleges to be opened in co-location to 157 medical colleges opened since 2014.

#Budget2023 #BudgetSession #UnionBudget2023
#medicalcollege

[Moneyfront @moneyfront]

38800 teachers will be recruited for Eklavya Schools serving Tribal students.

#Budget2023 #BudgetSession #UnionBudget2023 #Students #schools #eklavya

[Moneyfront @moneyfront]

The outlay for PM Awas Yojna is to be increased by 66% which is up to Rs. 79,000 Crs.

#Budget2023 #BudgetSession #UnionBudget2023 #PMawasyojna

[Moneyfront @moneyfront]

Capital Investment outlay to be 3.3% of GDP. Increased by 33% to massive 10Lakh Crs.

#Budget2023 #BudgetSession #UnionBudget2023 #investment #capitalinvestment #GDP

[Moneyfront @moneyfront]

50-year interest-free investment loan to state governments to continue for one more year.

#Budget2023 #BudgetSession #UnionBudget2023 #loan #investmentloan

[Moneyfront @moneyfront]

- The outlay for Railways is to be 2.4 Lac Crores. The highest-ever allocation.

- 100 critical transport project has been identified.

#Budget2023 #BudgetSession #UnionBudget2023 #Railways #transport

[Moneyfront @moneyfront]

More than 39000 compliances have been reduced and over 3000 offenses de-criminalized.

#Budget2023 #BudgetSession #UnionBudget2023 #Compliance

[Moneyfront @moneyfront]

Effective Capex will be 13.7 Lac Cr, amounting to 4.5% of GDP.

#Budget2023 #BudgetSession #UnionBudget2023 #GDP

[Moneyfront @moneyfront]

7,000 Crs have been announced for the 3rd phase of eCourts.

#Budget2023 #BudgetSession #UnionBudget2023 #eCourts