#PMCARES fund was having bank balance of โน 6283 Crores as at 31st March 2023 the day till which it has uploaded its audited receipt and payment account on its website.
It is audited by a Chartered accountant firm just like other private entities.
It has either not conducted the #audit after that or has forgotten to upload the same on its website. In these both cases, a pvt entity is liable to adhere to strict laws exposing it to #penalties, fines and even #prosecution in some cases.
I Hope @PMOIndia takes note and do the needful to set example.
Note :
It is outside the ambit of the #RTI Act, parliamentary scrutiny, and audit by the CAG.
Is India about to witness its own 401(k) moment?
@SEBI_updates latest consultation paper proposing to allow mutual fund investments via employer payroll deductions is an absolute masterstroke.
This move draws a massive parallel to the transformational US 401(k) revolution of the 1980s.The partnership between 401(k) plans and the mutual fund industry over the past four decades is one of the most consequential relationships in modern financial history.
When corporate America shifted from traditional pensions (defined-benefit plans) to 401(k)s (defined-contribution plans) in the 1980s and 1990s, mutual funds became the primary engine used to power retirement accounts.
What made the 401(k) a multi-trillion-dollar juggernaut wasn't just the underlying mutual funds; it was the complete elimination of behavioral friction. By routing investments directly out of a paycheck, saving, compounding and wealth creation were automated.
Removing friction right at the source of income changes everything. It completely bypasses the psychological hurdle of manual wealth allocation and eliminates the operational headaches.
The immediate second-order effects will be profound:
1) A massive, highly predictable wave of long-term retail capital will continuously fortify Indian equities.
2) Companies will begin actively designing curated mutual fund menus as core recruitment and retention tools within modern CTC structures.
3) Millions of salaried professionals will gain seamless access to true wealth compounding.
We may be looking at a generational pivot in how India saves for the future.
What are your thoughts on this framework? How many of you would willingly shift your retirement allocations away from traditional pension-related vehicles with predictable returns into equity-based mutual funds if given this option?
#SEBI #MutualFund #India #Investing
Modi ji: No gold. Less petrol. No Maldives. Save rupee. ๐
AMCs & RMs: India BEST. (We didn't say US was best in 2024. Too late now)
FII: Already left. Thanks for the exit!
Retail: My SIPs are long term. I am not worried. (opens Zerodha at 3am) ๐ถ
Stop paying โน2,000/month for options analytics. ๐
I just open-sourced the Mr. Chartist Options Terminal. Itโs 100% free, runs locally, and has premium features: Live Option Chain, OI Analysis, and Strategy Builder.
Want the source code?
1๏ธโฃ Retweet this
2๏ธโฃ Reply "TERMINAL"
3๏ธโฃ I'll DM you the GitHub link! ๐ฉ
Instead of investing in mutual funds if I just bought USDT and held I would've made more money.
Waiting for Dhurandhar 3 for justifying this ๐ฟ๐ฟ๐ฅ