Finance News

Wealth management firms go beyond metros to tap post-Covid surge in demand Wealth management firms are expanding their footprint beyond the tier-I cities as high net worth individuals (HNIs) in smaller cities look to diversify their portfolios beyond gold and real estate. Wealth managers say demand has picked up post-Covid with the pandemic breathing new life into certain industries. ...

India’s Jan-March current account deficit narrows as trade gap shrinks: RBI India’s current account deficit narrowed sharply in the January to March quarter, mainly on the back of a moderation in the trade gap and an increase in services exports, the Reserve Bank of India said on Wednesday. The current account deficit stood at $1.3 billion or 0.2% ...

Only 2 insurance covers in India for adventure junkies If you are an adrenaline junkie that loves to plan your holidays around adventure sports and high-risk activities, the insurance industry in India won’t really cover you  due to the high risk of injuries and loss of life.   While a few travel insurance plans do provide coverage for adventure sports ...

Is it still a good time to invest? Gold prices rebounded on June 27 from its three-month lows as geopolitical concerns surrounding Russia brought safe haven buying in the metal. Meanwhile, hawkish interest rate outlook in western economies restricted its further gains. Why has gold rebounded? “Gold continue to inch higher, amidst a weaker dollar and uncertainty regarding Russia’s ...

You have time till 11 July to opt for higher pension: All you need to know Subscribers should use the additional time to take a well-considered decision regarding whether to go for this option or stay with the current one that offers a higher lump sum

When you have to mandatorily file returns even if income is not taxable The Income Tax department of India has received over 10 million income tax returns for last fiscal till 26 June 2023. The 1 million milestone has been achieved 12 days early this year compared to the corresponding period in the preceding year.  An ITR is a ...

S&P upgrades rating for Bajaj Finance, UBI, Shriram Finance & Hero Fincorp Global rating agency Standard and Poor’s (S&P) has upgraded the rating for four Indian financial sector players — Bajaj Finance, Hero FinCorp, Shriram Finance, and public sector lender Union Bank of India. The rating upgrade reflects the view that they will continue to improve their asset quality, ...

I-T dept tweaks exemption norms for charitable institutions, seeks details The income tax department has tweaked disclosure norms for charitable institutions claiming I-T exemption by seeking additional details. As per amendments to the Income Tax Rules, which will come into effect from October 1, charitable institutions will have to now disclose whether the activities undertaken by them are ...

Digit Life enters insurance space with maiden product group term plan Digit Life Insurance, which is the newest licensee to get the regulatory approval to enter the life insurance space, on Monday said it has begun operations with the launch of a group term plan as its maiden product. The company, promoted by Canadian NRI Prem Watsa’s Fairfax ...

Axis Bank to grow up to 6% faster than industry in medium to long term: CEO Axis Bank on Monday said it will continue to grow 4-6 per cent faster than the industry in the medium to long term, helped by focus on rural and semi-urban markets, improving digital infrastructure and Citibank India retail business. Fiscal year 2023 ...