India witnessed a 12 per cent year-on-year (YoY) jump in total household wealth last year, at $14,225 billion, according to the Global Wealth Report 2022 by Credit Suisse. The report also forecasts the number of millionaires in the country to more than double from 796,000 in 2021 to 1.6 million in 2026. According to the report, which is based on data for the wealth holdings of 5.3 billion adults across nearly 200 countries, global household wealth rose 9.8 per cent in 2021 to $463.6 trillion, driven by widespread gains in share prices and a favourable environment created by central bank policies in 2020 to lower interest rates but at the cost of inflationary pressure.
In its reply to the Securities Appellate Tribunal (SAT), the Securities and Exchange Board of India (Sebi) said urgent action was warranted against the promoters of Zee Entertainment Enterprises Limited (ZEEL) in the alleged fund diversion case to safeguard the management and protect investors and other stakeholders. It termed the applications made by Essel Group Chairman Subhash Chandra and ZEEL managing director (MD) and Chief Executive Officer (CEO) Punit Goenka as "completely false and misleading" in its response submitted to SAT on June 17. "We have a situation before us where the chairman emeritus and the MD and CEO of this large listed company are involved in a myriad of different schemes and transactions through which vast amounts of public money belonging to listed companies are diverted to private entities owned and controlled by these persons.
During the debate on the 'Motion of Thanks on the President's Address', Leader of the House Piyush Goyal and Union Finance Minister Nirmala Sitharaman strongly objected to 'insinuations' against the prime minister, who was also present in the House.
In his opening remarks at a ministerial meeting in Tokyo of the Quadrilateral coalition, also known as 'Quad', External Affairs Minister S Jaishankar said India remained committed to a rules-based world order, respect for territorial integrity and sovereignty, and peaceful resolution of disputes.
Marking a key milestone in the Indian government's fight against black money allegedly stashed abroad, India will get this month the complete information on flats, apartments and condominiums owned by Indians in Switzerland as also on earnings made from such properties to help it look into tax liabilities associated with those assets.
State officials "not happy" after meeting with CoA
According to a senior official, Sebi has written to various stakeholders under its jurisdiction with regard to the requirement of FIs to report under CRS.
Smaller players may find it difficult to bear the costs associated with such a requirement.
Sebi is examining if speculators and persons acting in concert are behind the huge movements in these stocks
Rising prices of cereals and concerns over rice production in the 2023-2024 crop year due to insufficient rains followed by floods could be the possible causes.
A key demand is to reduce the dividend distribution tax on listed firms.
'No Cold War should be reignited and no Ukraine-style crisis should be repeated in Asia'
The incident took place after some slogans were raised after the match on Sunday night.
On May 16, the leads will start trickling in from morning but the final result is likely to come only after 3.30 pm, beyond trading time for the equities segment in India.
'NSE has thousands of employees. It is their institution. So it's a dear family.' 'One should not hurt the morale of these people.'
Brokers also want tax rebates, removal of additional tax on dividends, streamlining of GST...
Bourses ask for okay in the 'permitted to trade' category; brokers and legal experts speak in favour.
During the raids, Rs 53 lakh, $1,900, about 540 grams of gold and bullion and 1.5 kg of gold jewellery were seized, sources in agency said and added that one of the locations searched was a house in south Delhi where Lalu Prasad Yadav's son and Bihar Deputy Chief Minister Tejashwi Yadav was present.
Gul is the sixth individual to have been designated as a terrorist by the Centre in the last fortnight.
Investor forum wants govt to take over exchange, raises doubts on claims of matching stocks; NSEL says default by brokers to be dealt with legally.
The talks took place in a beach resort in Benaulim on the sidelines of a meeting of the Council of Foreign Ministers of the Shanghai Cooperation Organisation.
Chinese foreign policy will acquire a more ideological and less pragmatic character. It will be conducted with more nationalist overtones, predicts former foreign secretary Shyam Saran.
Despite their opposition based on ideology, both the political Right and the political Left possess similar behaviour, observes Shyam G Menon.
Traders' body CAIT on Thursday urged the government to impose a ban on Amazon's e-commerce portal and its operations in India, accusing the global e-tailing giant of indulging in predatory pricing, deep discounting and inventory control. Addressing a press conference, CAIT secretary-general Praveen Khandelwal demanded an "immediate ban on Amazon's portal and its operations in India" and an investigation against the company in a time-bound manner. He also urged the government to probe the business practices of Amazon and Flipkart. However, responding to the allegations, both Amazon and Flipkart said they remain compliant with Indian laws.
While they were invited with protests at Geelani's home, they were turned away by Yasin Malik, who was lodged in jail.
The quantum of punishment will be pronounced by the special NIA court on Monday, a spokesperson of the federal agency said.
Instead of only focusing on the tenure for which the best interest rate is available, investors should also focus on their own investment horizon.
The BJP and the AIADMK are unable to sort out ideological differences, observes N Sathiya Moorthy.
'If the Russian forces do capture Kyiv and set up some sort of provisional government, they might run into an insurgency, for which the geography is just right, it could prove costly for them.' 'In that event, the whole exercise could turn out to be counter-productive -- and costly in both foreign policy and domestic terms.'
'The undiminished threat, therefore, has the potency of sustaining itself in multiple ways in the near and medium term.' 'The state agencies need to utilize innovative methods in countering radicalization and violent extremism to address this growing threat'.
A Central Bureau of Investigation court in Jammu has issued summons to Dr Rubaiya Sayeed, the late Union home minister Mufti Mohammed Sayeed's daughter, to appear before it on July 15, 2022 in a case related to her abduction in December 1989.
As a multi-agency probe into the NSE case gathers pace, the grant of preferential server and data access to select brokers and their suspected misuse are being investigated threadbare to unveil all quid pro quo arrangements in a highly-sophisticated scheme that worked like a cricket betting scandal, officials said on Monday. While the bourse has said it has taken several steps over the years to strengthen its technology infrastructure, including as per regulatory orders, the officials said certain fresh disclosures call for a detailed probe into whether a select group of individuals in high positions had banded together to make illicit gains by facilitating the preferential trading slots, beginning over a decade ago. Even a split-second faster access is said to result in huge gains for a trader.
The prime minister also welcomed convergence of views between India and ASEAN for cooperation in the Indo-Pacific region.
The leaders of the Quad comprising India, the United States, Australia and Japan are set to demonstrate that the grouping is a 'force for global good' and has a unifying commitment to a rules-based international order amid China's increasingly intimidatory behaviour.
If Cyrus's protestations of having no knowledge of his imminent dismissal are to be taken at face value, he was extraordinarily naive and insulated from the ground reality. There were enough straws in the wind to suggest that his relations with Ratan were fast deteriorating to a point of no return.
A crammed calender left the Indian cricketers with not enough time to prepare for the ongoing Test series against South Africa, feels Board of Control for Cricket in India Committee of Administrators (COA) chief Vinod Rai.
The Anti-Terrorism Court (ATC) Gujranwala issued the warrant during a hearing in a terror financing case instituted by the Counter Terrorism Department (CTD) of Punjab police against some members of the JeM.
A PhD from Chicago-Booth and a top-ranking IIT-IIM alumnus, Krishnamurthy Subramanian is one of the world's leading experts in banking, corporate governance and economic policy
The Committee of Administrators (COA) has recommended former India captain Kapil Dev's name as a part of the four-member steering committee that will help in the formation of Players' Association as per Lodha Panel Recommendation.
The French president said that peace should be maintained in the region and peoples' rights should be protected.
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