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Kayezad E Adajania, Outlook Money A mutual fund (MF) account statement contains a whole lot of information on your investments in the fund. Here's what they mean: What is an MF account statement? An MF account statement is a record of your investments with a fund house. As soon as you invest in a scheme, the fund house sends you a statement giving details of your holding pattern and your investments. It's like a bank account passbook. So, every time you transact with the fund house for any scheme, the details are updated in the statement. How do they work? Frequency You get a statement as soon as you invest in a scheme. Account statements are scheme-specific and account number-specific. So, if you invest in, say, two schemes within the same fund house, you will get two separate account statements. Subsequently, whenever there is any action in that particular scheme, like a dividend declaration, or additional units bought or sold, a fresh statement will be issued giving details ...

Q&A: Murali M Natrajan, MD & CEO, Development Credit Bank Sudeep Jain & Abhijit Lele / Mumbai May 14, 2009, 0:34 IST Over the last few months, there has been a spate of bad news from Development Credit Bank, promoted by the Aga Khan Fund for Economic Development (Akfed). First came the departure of the bank’s CEO Gautam Vir, followed by losses in the third quarter and a rating downgrade. To add to the woes, the Reserve Bank of India has decided against giving fresh branch licenses till promoter holding reduces. But late last month, there was finally some good news with Murali M Natrajan joining as the Managing Director and CEO. In an interview, the first since taking over his new responsibility, the former Standard Chartered executive tells Sudeep Jain and Abhijit Lele about the strategy that he will pursue. What prompted you to move from a foreign bank to a small Indian bank which is not in the best of health at the moment? I have been with foreign banks all my life, eithe...

New Delhi, May 14: They aren't quite pollsters, but astrologers are pundits for all seasons in India. And days before votes for the 15th Lok Sabha are counted May 16, they predict "a hung house" and say the stars are shining for smaller parties. "Neither the Congress nor the Bharatiya Janata Party (BJP) will be able to form a government. The Congress at the most will get 135-140 seats, while the BJP might gain marginally with 165 seats," Delhi-based astrologer Prem Kumar Sharma, a popular television commentator on spirituality and astrology, said. "The Third Front and the smaller parties will play an important role in forming the government as the alliances will hunt for new friends." He said the Prime Minister would not be able to continue and the churning might throw up a "surprise prime ministerial candidate". "But the Third or Fourth (whatever you call it) Front will play an important role," Sharma said. He said the mandate woul...

MUMBAI: In an indication that the diaspora continues to repose faith in India amid turbulent times, net inflows from non-resident Indians witnessed a stupendous, over twenty-fold rise to $4 billion in fiscal '09 as these constituents sharply increased their exposure to various NRI deposit schemes. Notably, inflows in March '09 itself crossed $1 billion, the highest since October '03, and testament to the fact that Indians abroad increasingly sought financial safety of their shores. Latest figures by Reserve Bank of India show that net inflows through various NRI deposits surged from $179 million in FY08 to $3,999m in FY09. These include inflows through foreign currency non-resident-banks (FCNR-B ), nonresident (external) rupee accounts (NRE-RA) and non-resident ordinary (NRO) deposit schemes. While FCNR(B) and NRE(RA) are repatriable and hence comprise a part of India's external debt, funds in an NRO account are meant for local use by NRIs and are hence not repatriable....

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