Outward remittances exceeding ₹6 lakh come under I-T scanner
The move will help the government to identify cases where the remittance was sent but was not reported by the taxpayer in their filling, the official said. “The whole exercise will curb tax evasion and ensure that legitimate remittances are facilitated while preventing abuse of relaxations in foreign remittance reporting,” the official added.
Know Your Fund Manager | Sanjay Chawla, CIO – Equity, Baroda BNP Paribas Mutual Fund
“I am directly managing some of the flagship and strategic products. All the funds are sector-agnostic and across market cap. These include Balanced Advantage Fund, Flexi cap Fund, Large & Midcap Fund and Focused Fund. This accounts for close to 1/3rd of the fund’s AUM”
Mind Over Money: Rock ‘n’ Roll to FinEdge – How Mayank Bhatnagar keeps himself mentally fit
Mayank Bhatnagar, Co-founder of FinEdge, exemplifies balance by merging finance with rock ‘n’ roll. He prioritizes mental and physical fitness and integrates music and travel into his life. With the band ‘Frontrow Bandits,’ he revives rock ‘n’ roll, showcasing the power of dedication and teamwork.
Markets optimistic but ‘mistakenly euphoric’, says Kotak Institutional Equities
Kotak Institutional Equities analyzes the Indian market’s optimism and sector valuations, predicting market reactions to BJP and NDA outcomes with a focus on corrections in specific sectors and the stability of major indices.
India to increase road toll charges from Monday
India will hike road toll charges across the country by 3-5% from Monday, officials said, after putting the annual increase on hold in April due to the country’s general elections. Toll charges in India are revised annually in line with inflation, and highway operators have announced hikes of 3% to 5% at nearly 1,100 toll […]
Indian economy is on a firm footing: RBI annual report
The Reserve Bank of India’s annual report highlights the Indian economy’s firm footing, driven by improved external sector sustainability and robust corporate balance sheets. It projects 7% GDP growth for 2024-25, supported by strong macroeconomic fundamentals, production-linked incentive schemes, and an expected above-normal monsoon, despite global uncertainties and challenges.
Sharp drop in provisions helped RBI transfer bumper dividend to RBI
The Reserve Bank of India’s income rose 15% last fiscal due to higher interest income from bond holdings and a sharp drop in provisions transferred to the Contingency Fund, enabling a record dividend payment to the central government.
India major gainer of China+1, exports to soar to $835 billion by 2030: Nomura
India and Vietnam are emerging as key beneficiaries of the China plus one strategy, with Nomura predicting significant growth opportunities for Asian economies. According to a report by Nomura, India’s exports are projected to skyrocket to $835 billion by 2030 from $431 billion in 2023, driven by its vast domestic market attracting companies seeking supply […]
7 key mantras for young traders of Dalal Street to master the art of options trading
Trading can be a highly rewarding profession, but it is imperative to acknowledge that it is not a get-rich-quick scheme. Here are a few things that youngsters should keep in mind:
Sinking profits bring reality check to AI-driven rally in emerging market stocks
Unilever Plc’s Indian unit reported a 5.5% drop in net income for the first quarter, missing analyst estimates. Behind the decline was sluggish rural demand combined with high net-worth urban consumers pivoting to other brands. Similar trends can be seen elsewhere, with Chilean retailer Cencosud SA, restaurant chain operator Yum China Holdings Inc. and Swiss-South […]