RBI launches UDGAM. What is UDGAM?

Reserve Bank of India (RBI) has launched UDGAM – Unclaimed Deposits Gateway to Access inforMation – to tap the unclaimed deposits in the country.

In a statement, the RBI said this portal will make it easier for the public to search their unclaimed deposits across multiple banks in one place.

RBI UDGAM

How to find unclaimed deposits in SBI, PNB, other banks?

RBI Udgam Portal Registration Process:

Users have to first register on Udgam Portal with their mobile number, name and set-up password. After registering, log in to the portal and enter any 1 search criteria and select the bank. Selection of multiple bank accounts to search unclaimed deposits is also allowed.

Click here to register Udgam

Once you enter the above details, the portal will show your unclaimed deposits lying in any of the banks selected by you.

RBI Udgam Portal Login Link

In a statement in July 2022, the RBI noted that unclaimed deposits were increasing despite efforts to raise public awareness. However, despite public awareness campaigns undertaken by banks as well as RBI from time to time, the amount of Unclaimed Deposit is showing an increasing trend.

Investors should make use of this portal and check whether you or any family member have an unclaimed deposits with any of the banks.

What is Gift Nifty?

 What is Gift Nifty?

Gift Nifty is a new identity given to SGX Nifty, available for trading in NSE IX with effect from July 3. Instead of Singapore Exchange, US dollar-denominated contracts of Nifty futures will now trade in NSE IX which is in GIFT City SEZ .

GIFT NIFTY


What happens to SGX Nifty?

SGX Nifty has been suspended for trading and will eventually get delisted from the Singapore Exchange.

What are the timings of SGX Nifty?

Gift Nifty will be accessible for almost 21 hours. It is open in two sessions - from 6.30 am to 3.40 pm and then again from 4.35 pm to 2.45 am in the second session.

How to check Gift Nifty live data?

Gift Nifty live data can be checked on the NSE IX website and futures contracts from here - Gift Nifty.

Tata Technologies IPO - First IPO of Tata Group in 18 years.

Tata Technologies is will soon hit the secondary market as the capital market regulator SEBI has approved the company's IPO.

The last time when Tata Group came with an IPO was in 2004. The company was Tata Consultancy Services (TCS).

Tata Technologies IPO


Tata Technologies had filed IPO papers with SEBI in March. Tata Technologies IPO is purely an offer for sale (OFS).

Its shareholders will offload up to 9.57 crore units representing 23.60 per cent of its paid-up share capital. Under the OFS, Tata Motors, the parent company of Tata Technologies, will offload 8.11 crore shares or a 20% stake in the company. Tata Motors currently holds a 74.69% stake in the product engineering company. 

Tata Technologies is an engineering services company that offer product development and turnkey solutions to global original equipment manufacturers (OEMs) and their tier-1 suppliers.


Which is the Best Date for SIP?

 Which is the Best Date for SIP?

Over the last few years, Systematic Investment Plan (SIP) has become a household name. Once the amount and time frame to invest has bee decided by the investor, the next important question comes to his mind - Which is the best date for SIP, so that he can maximize the returns.

Recently WhiteOak Capital Mutual Fund conducted a study, to address this important question.

Best SIP Date - Start of the month, End of the month - during Derivative expiry where markets tend to be volatile or Middle of the month? Or splitting the SIP amount into multiple dates?

An historical study of the BSE Sensex data since 1996 to 2023, suggests that there is no meaningful difference between the average returns of different dates.

BEST SIP DATE
image credit WhiteOak Capital

Another study on on SIP frequency shows that, whether it is Daily, Weekly or Monthly the returns are similar.


SIP FREQUENCY

In short, it doesn't matter which date or frequency is selected, SIP which is started early, invested regularly and invested for long term takes you to the destination or your goal.