'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
FDs are not advisable for long-term wealth creation as their post-inflation, post-tax returns are not very attractive.
The growing decline of MTech applicants in Indian colleges is due to multiple factors, including outdated curricula, poor return on investment and lucrative non-engineering alternatives, say experts.
Lump sum investments in equity and hybrid schemes of mutual funds (MFs) declined to Rs 17,900 crore in October - the lowest since January 2021. The fall in lump sum investments comes even as flows through systematic investment plans (SIPs) rose to a new all-time high of Rs 13,000 crore in October. The latest lump sum tally is just a third of the peak inflow of Rs 49,700 crore in July 2021.
Ignore these and you will end holding duds
Thanks to a booming market, India now has more than 300 family offices, up from 45 in 2018, according to a PwC report. The number is expected to grow rapidly, with promoters establishing more businesses in Tier-II and Tier-III cities. Family businesses play a crucial role in India's booming economy, spanning manufacturing, retail, real estate, healthcare, and finance.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Shah had pleaded guilty in 2012 to securities fraud in a parallel civil insider trading case case.
'Funds based on this theme offer socially conscious investors an option to invest in a portfolio that is aligned to their beliefs.'
Make minimum payments on all debts, then use extra funds to tackle the smallest debt first.
Attention Deficit Disorder is a neurodevelopmental condition characterised by difficulties with attention, concentration and impulse control, explains Mehezabin Dordi, clinical psychologist at the Sir HN Reliance Foundation Hospital.
'80% of start ups fail because they don't have a support system to help them in the very early phase.' 'It's not just an idea that takes an entrepreneur through the initial three years of journey.' 'What plays a definitive role in making a start-up successful is idea+team+capital+mentors+access to a larger ecosystem.'
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
'AI is not a new thing for us. We started our AI journey in 2015.'
Mutual fund investors no longer need to link their PAN with Aadhaar to obtain 'KYC-registered' status.
rediffGURU T S Khurana answers readers' personal income tax queries.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
'Understand how wedding expenses fit into your overall financial situation.' 'Evaluate how different levels of spending will impact other goals like retirement, travel, or housing.'
Nikunj Saraf, Vice President Choice Wealth, will answers your MF queries.
'Filing a nil ITR serves as a formal declaration to the tax authorities that your earnings fell below the taxable threshold in the given financial year, and you had no tax liability during that period.'
In order to boost its deposit base, State Bank of India (SBI) is focusing on various segments, including JanDhan account holders, trusts, societies, and the segment below the affluent class but above the normal account holders. According to Ashwini Tewari , managing director, SBI, the bank is focusing on three broad segments. One is wealth banking, where the bank is focusing on individuals who perhaps do not qualify for private banking but are above regular accounts and require individual attention.
The MF investor count, which stood at around 38 million in April 2023, has surged by 19 per cent in the past year.
Two young men jostle in a rickshaw as it clatters along a narrow, bustling lane of North Kolkata, each with a leg dangling over the side of the vehicle, a bulging sack of cosmetics nestled between them. The protagonists here are the founders of Emami - Radhe Shyam Agarwal and Radhe Shyam Goenka - childhood friends who gave up cushy corporate jobs to build a fast-moving consumer goods (FMCG) company. From a 200-square-foot rented space on Muktaram Babu Street in North Kolkata, brand Emami stepped into the competitive world of FMCG 50 years back, armed with just three products: Vanishing cream, talcum powder, and cold cream.
For Indian parents, sending a child abroad for a three-year degree could deplete 48% of their retirement savings, while a four-year degree may consume up to 64%.
As a prudent investor who wants to create a portfolio that will help you achieve your investment objective in a time-bound manner, Suren Kochhar explains what you should know.
India's second-largest passenger vehicles firm will be valued at Rs 1.59 trillion at the top-end of the price band of Rs 1,865-Rs 1,960.
These funds at times invest in companies going through corporate restructuring, such as mergers, demergers, or buybacks.
Global supermajor BP Plc's exclusivity with Reliance Industries Ltd has ended but the energy giant will continue to pursue oil and gas as well as mobility ventures in India with the Mukesh Ambani firm owing to an unwritten strategic partnership, BP's outgoing India head Sashi Mukundan said. BP in 2011 spent $7.2 billion to acquire 30 per cent interest in 23 oil and gas blocks of Reliance. Eastern offshore KG-D6 block was the cornerstone of the deal that also provided for a 10-year exclusivity period which meant that BP would take up energy projects or investments in India only in partnership with Reliance.
Startup and venture funds on Tuesday cheered the Budget decision on the abolition of angel tax for all investor classes, terming it a "game-changer" that would remove significant barriers in growth and foster a vibrant and dynamic ecosystem. Angel tax refers to the tax that the government imposes on funding raised by unlisted companies, or startups if their valuation exceeds the company's fair market value.
India on Monday asserted that its friendly ties with the Maldives will continue as Prime Minister Narendra Modi and President Mohamed Muizzu unveiled a blueprint for comprehensive economic and maritime cooperation, signalling a reset of the relationship that had hit a rough patch last year due to anti-New Delhi rhetoric.
Life Insurance Corporation of India has asked the Insurance Regulatory & Development Authority to allow it a shareholding of up to 20 per cent in a company.
'It's a clear case of political patronage helping an individual grow.'
India's leading steel companies hope the Modi 3.0 Budget will continue the massive capital expenditure currently underway, focusing on infrastructure development, manufacturing, and fair trade. The infrastructure segment is the largest steel user, and the government's focus has fuelled steel consumption even as international markets have underperformed. According to provisional statistics, steel consumption grew 13.6 per cent in FY24, reaching 136 million tonnes (mt), according to a CRISIL report.
Suddenly, the legendary advertising line -- a diamond is forever -- is losing its shine.
'The top 10 per cent of the population should adopt and handhold the bottom 20 per cent of the population as a social responsibility.'
'The facility works on Apple's iPhone and everything is damaged -- CNC machines, computers and CCTVs worth crores.'
Finance Minister Nirmala Sitharaman on Tuesday asked banks and other financial institutions to ensure that their customers must update nominees to help resolve the problem of unclaimed money in future. "I want the banking system, the financial ecosystem including the mutual funds, stock markets to keep in mind that when someone deals with his (customer's) money, the organisations will have to think about the future and ensure that customers nominate their heirs, give the name and address," Sitharaman said speaking at the Global Fintech Fest (GFF) in Mumbai. According to a report, the banking system alone has more than Rs 35,000 crore of unclaimed deposits, while the overall quantum of the unclaimed money is said to be more than Rs 1 lakh crore.
'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
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