Alerts

SBI waives processing fee

As part of its festival season offer, State Bank of India recently announced waiver of up to 100 per cent of the processing fee on certain loans. This is in addition to the existing waiver on processing fee on takeover of home loans which have been transferred from other banks. For car loans, the bank has offered to waive 100 per cent of the processing fee. This offer will be valid till till December 31, 2017. As far as personal gold loans go, 50 per cent of the processing fee has been waived till October 31, 2017.

New benchmark for DSP BlackRock funds

DSP BlackRock mutual fund will henceforth be disclosing the performance of its active equity mutual funds in comparison with a Total Return Index (TRI) as the benchmark. Total return reflects the actual rate of return of an investment or a pool of investments. It includes interest, capital gains, dividends and distributions realized over a given period of time.

While the performance of a mutual fund scheme is a function of dividend as well as the capital gains made on investments, the returns on the existing benchmarks are considered without any dividend income. Hence, the outperformance of a fund over the benchmark may look overstated as dividends are not added in benchmark returns. Thus, TRI is a more realistic benchmark.

₹200 note is out

The new ₹200 currency note was introduced last week by the RBI. With bright yellow being the base colour, the note denomination has the motif of the Sanchi Stupa on the reverse.

This issue follows the recent notification of a new ₹50 note. With fluorescent blue as its base colour, the new ₹50 note will bear the picture of the iconic stone chariot at Hampi, Karnataka, on the reverse. The old ₹50 notes though will continue to remain legal tender.

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