Where should you lock your money? Some small finance banks are  luring investors with interest rates as high as 8.5 per cent to nine per cent on fixed deposits after the Reserve Bank of India kept the key repo rate unchanged last week. With such high-interest rates offered by  these banks, investors would be keeon to  park their funds in ...

Why India’s millionaires are flocking to Dubai and Singapore Political stability, low taxation, and personal freedom are the top three  metrics for India’s millionaires when it comes to deciding where to live. About 6,500 Indian high-net-worth individuals are expected to move out of the country in 2023, according to the Henley Private Wealth Migration Report.  This number is 13% ...

India to lose 6,500 millionaires in 2023, Dubai and Singapore top choice India is likely to see an outflow of at least 6,500 high-networth individuals in 2023, slightly lower than last year’s figure of 7,500, according to the Henley Private Wealth Migration Report, 2023, which tracks wealth and investment migration trends worldwide. ‘Millionaires’ or ‘high-networth individuals’ (HNWIs) refer to ...

Goldman Sachs’ biggest office beyond New York attests to India’s rise By Subhadip Sircar and Ruchi Bhatia On the eastern side of Bengaluru, the city sometimes called the Silicon Valley of India, sits a campus housing three cube-like glass buildings. Each is 10 stories high, with facades glistening in the strong South Asian sun. These are the offices of ...

RBI likely to tighten norms for unsecured lending portfolios of banks By Siddhi Nayak and Swati Bhat   The Reserve Bank of India (RBI) is looking to tighten scrutiny on the unsecured lending portfolios of banks amid the growing risk of potential defaults, four banking sources told Reuters.   Unsecured loans – mostly personal loans and credit cards – ...

RBI opens sub-office at Kohima, to increase presence in north east The Reserve Bank on Tuesday opened a sub-office at Kohima, and announced its aim to soon have an office in Itanagar to strengthen its presence in North East India. Deputy Governor Michael Debabrata Patra inaugurated the office in the capital of Nagaland, which will help expand the ...

Odisha hikes Dearness Allowance of govt employees, pensioners by 4% The Odisha government on Tuesday announced a four per cent hike in dearness allowance (DA) for its employees and pensioners. The DA for employees and pensioners has been increased to 42 per cent from the existing 38 per cent. A release issued by the CMO said the ...

India will be among fastest growing economies in 2023: RBI Governor Reserve Bank of India (RBI) Governor Shaktikanta Das on Tuesday expressed confidence that India will be among fastest growing economies in the world in 2023 which would grow at the rate of 6.5 per cent in the current fiscal. “We expect real GDP to grow by 6.5 ...

Accenture plans to pump in $3 billion for data and AI in three years Accenture on Tuesday announced a $3-billion investment over three years in its data and artificial intelligence (AI) practice. This will help clients across all industries advance rapidly and responsibly and use AI to achieve higher growth, efficiency and resilience. The company, which consults and services ...

CBI files FIR against Gujarat firm for Rs 1,518L fraud against PNB The Central Bureau of Investigation (CBI) has filed an FIR against Gujarat-based Eternal Motors Private Limited, its promoter Shubodh Kumar Jain, Shalini Shubodh Jain, their son Namit Jain, and others for allegedly cheating the Punjab National Bank for an amount of Rs 1,518 lakh, an official said. ...