Lifestyle

Rs 3.5 Lakh Net Worth Makes You Richer Than 50% Of The World: Study

To be in the top 10 per cent of the world’s population, you may not need as much money as you think. According to the Credit Suisse Research Institute’s 2018 Global Wealth Report, you don’t even need six figures.A net worth of $93,170 (Rs 77,98,110) is enough to be richer than 90 per cent of people in the world, reports Credit Suisse. The institute defines net worth, or “wealth,” as “the value of financial assets plus real assets (mainly real...

Paytm shares surge 10% after government approval for payments arm investment

Paytm share sugre: Beleaguered fintech major Paytm's parent One97 Communications witnessed a significant boost in its share price, surging 10 per cent to an intraday high of Rs 509.05 apiece on the NSE, following news of government approval for a crucial investment in its subsidiary, Paytm Payment Services. This approval, confirmed by Financial Ser...

Fixed deposits: Can you double your money in 10 years by investing in FDs? Check rates of these 6 banks to find out

The rule of thumb is that longer the tenure, higher the rate of interest. So, when you want to maximise your earnings, you are advised to stay invested for a long period of time.

Paytm shares surge 10% to hit upper circuit. Here's why

Shares of One97 Communications Ltd, the parent company of Paytm, surged by 10% to reach the upper circuit limit.

Fake billing scams worth over ₹5K crore unearthed: Cheema

Punjab finance, planning, excise and taxation minister Harpal Singh Cheema on Friday said that an investigation by the state tax department’s enforcement wing has uncovered fake billing scams worth thousands of crores.

Property Holders Alert! I-T Department Issues BIG Clarification on Old Property Sale

The department also provided an example to explain the calculation of capital gains tax for properties bought before 2001.

Karnataka man's satire video on how to save 100% income tax is viral

A Karnataka man posted a satirical video, explaining how salaried individuals could save 100 per cent of income tax by "growing and selling grass to their employers".

The Black Day for Gold: How Rs 10 lakh crore wealth got destroyed in a single day

The pen is known to be mightier than the sword, and Finance Minister Nirmala Sitharaman proved it in one fell swoop. By announcing a cut in gold customs duty in the Union Budget 2024, gold prices tumbled over five percent, wiping off over Rs 10.7 lakh crore in value in a single day. When compared to the equity markets, this move caused the sixth largest wealth erosion recorded so far. More importantly, the wealth destruction is likely to have...

Your Money: New investor-buyers of homes need to be cautious

Most buyers now will pay substantially more in capital gains tax

THIS NBFC Penny Stock Hit Upper Circuit for Third Consecutive Session

Penny Stocks 2024: ​​​This marks a year-on-year (YoY) increase of 11.20 per cent in total income and a 19.75 per cent rise in total revenue.

Chandrababu Naidu's white paper shows why Andhra Pradesh's per capita income fell below Telangana's

Andhra Pradesh Chief Minister Chandrababu Nadu on Friday released a white paper detailing financial irregularities attributed to the previous YSR Congress Party regime. “The debt on the state’s exchequer as on 31.03.2019 was Rs 3,75,295 crore whereas the debt on the state’s exchequer as on 12.06.2024 stands at Rs 9,74,556 crore,” Nadu said the state legislative assembly. According to The Hindu, the white paper suggested that more than 99% of the...

Mutual Funds: 5 important factors that you must check before investing

Mutual funds offer a potent avenue for wealth accumulation, but it’s crucial to educate yourself before making investments.

Kapil Sibal Presents 'Hard Facts' To Modi Govt In Rajya Sabha: '83% Of Indian Youth Is Unemployed'

New Delhi, July 26 -- Kapil Sibal takes the government to task over India's growing unemployment crisis and inadequate educational policies. Highlighting alarming statistics, Sibal reveals that 80% of Indian youth are unemployed, with most stuck in the unorganized sector. He warns that despite the critical need for AI to maintain industry competitiveness, the very sectors providing maximum employment may no longer do so. Sibal also criticizes the government for failing to allocate the promised 42% of resources to states, instead providing only 32%.

Budget Open House: Taxes have not been increased because I want more money, says FM Sitharaman

Days after presenting the Union Budget 2024, Finance Minister Nirmala Sitharaman said that taxes have not been increased because the government wants more money but to ensure all budget classes are treated similarly.“Taxes have not been increased because I want more money… The decision is based on the idea that every asset class has to be treated similarly,” Sitharaman said at an industrial interaction ‘Budget Open House’ organised by The RP...

SC to examine illegal money lending business by people with "Shylockian attitude"

New Delhi, Jul 26 (PTI) The Supreme Court has decided to examine and lay down law to check unlicensed money lending business in India for rescuing hapless borrowers who are driven into a debt trap by moneylenders having "Shylockian attitude"

Cryptocurrency Price Today: Bitcoin Climbs Above $66,000, AAVE Becomes To Gainer

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to recover from its losses as it rose above the $66,000 mark for the first time this week. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — mostly saw minor gains and losses across the board as the overall Market Fear & Greed Index stood at 59 (Neutral) out of 100, as per CoinMarketCap data....

Amendments in Black Money Act to remove penalty on undisclosed foreign assets worth ₹20 lakh: CBDT chief

Currently, if taxpayers fail to disclose a foreign asset worth ₹5 lakh, they have to pay a penalty of ₹10 lakh.

Mutual Fund Investment: 10 Essential Tips for Sustained Portfolio Growth

I​nvesting in mutual funds may prove profitable if done correctly and with informed selections. Understanding your goals, analysing your options, and sticking to a diligent investment approach will help you establish a strong portfolio and achieve your financial goals.

Gold Prices Today: Yellow metal trades higher on low yields after US Fed's preferred inflation gauge lifts rate cut bets

Spot gold was up about 1% to $2,386.99 per ounce by 10:17 a.m. ET (1417 GMT), after hitting its lowest since July 9 on Thursda

Breaking the cycle: How to stop money worries from affecting your mental health?

Financial stress is a common struggle that can affect anyone, leading to unhealthy coping mechanisms. It is crucial to recognize the signs of financial stress and take proactive steps to manage finances effectively.

Penny stock under ₹5: NBFC share Advik Capital hits upper circuit after Q1 results 2024

Penny stock under ₹5: Advik Capital reported a whopping 428% QoQ rise in net profit in Q1FY25

Deepika Padukone: With a net worth of Rs 500 crore, here's a look into the 'Kalki 2898 AD' actress

Renowned Bollywood star Deepika Padukone, known for her roles in ‘Jawan,’ ‘Fighter,’ and ‘Kalki 2898 AD,’ boasts a net worth of Rs 500 crore. As one of the top taxpayers in the industry, her wealth is fueled by substantial film earnings, diverse brand endorsements, strategic investments, and a notable real estate portfolio.

An economist outsmarted the lottery and won 14 jackpots. He explains the math

In an era where the odds of winning the lottery are akin to being struck by lightning, one man defied the near-impossible. Romanian economist Stefan Mandel, with the backing of a dedicated syndicate and strategic acumen, managed to clinch 14 lottery jackpots across the globe. Mandel's journey began with a fundamental understanding of lottery mechanics. "Theoretically, anybody can buy all the possible combinations. Any high school boy or girl can...

Vijay Mallya Barred From Trading In Indian Securities For 3 Years By SEBI

Financial market regulator SEBI has barred fugitive businessman Vijay Mallya from accessing the securities markets for three years, with immediate effect, on charges that he masked his identity and traded in Indian securities. In an order released on Friday on the regulator's website, SEBI said Mallya is restrained from accessing the securities mar...

Nifty 50 Next Week: Mount 25000 in sight for BULLS? Check make-or-break level

Nifty 50 Next Week: On Friday, the tide changed with renewed buying interest in Nifty 50 index. The index witnessed a follow-through buying interest from the previous trading session and made a fresh all-time high of 24,861.15.

Gold futures rise Rs 328 to Rs 67,790 per 10gm

New Delhi, Jul 26 (PTI) Gold prices on Friday rose Rs 328 to Rs 67,790 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand

Taxes increased because…: Finance Minister Nirmala Sitharaman opens up on Budget 2024

Finance Minister Nirmala Sitharaman is still open to comments and suggestions on the budget, however now the finance bill is the property of Parliament, she says.

10 tried and tested ways to save money

Discover tried and tested methods to save money effectively and build a more secure financial future...

Moneycontrol Daily: Your Essential 7

Market BuzzOla Electric IPO's anchor book likely on August 1; issue may launch between August 2-6 for public Bhavish Aggarwal-led Ola Electric is gearing up to launch the anchor book for its widely anticipated IPO on August 1, with the issue likely to open for public subscription from August 2 to August 6, multiple industry sources in the know told Moneycontrol. August 3 and August 4 fall on the weekend. More hereWatch OutTake a look at these...

Telcos pay Rs 1.1K cr for spectrum

Bharti Airtel acquired the maximum airwaves, spending Rs6,857 crore. It bought a total of 97 MHz spectrum in the 900 MHz, 1800 MHz and 2100 MHz bands.

Where to invest strategically to achieve high returns that outpace inflation?

Market expectations suggest that several major central banks will start cutting rates this year.

IREDA Share Strategy: PSU Green Energy stock available at 16% discount over all-time high; BUY?

IREDA Share Strategy: Shares of IREDA has declined significantly from its all-time high of Rs 310, and is now available at a discount of more than 16 per cent from that peak. What should investors do with the PSU Green Energy stock? Is it the right time to buy?

New bank money transfer rules from November 1, 2024: All you should know

With a focus on banking services and payment systems, the Reserve Bank of India (RBI) recently released a new framework on Domestic Money Transfer (DMT) for regulated enterprises. This framework includes tougher Know Your Customer (KYC) record criteria.

Why so many Gen Zers and millennials have 'money dysmorphia' — even if they are financially better off than they realize

A financial therapist said Gen Z and millennials have "pervasive" anxiety about their wealth, even if they're financially secure.

Gold prices fall Rs 5,000/10gm post custom duty cut: What it means for buyers

This price drop has caught the attention of both investors and buyers as the cut in customs duty has made gold imports less expensive.

Bitcoin surges 4% to over $67,000 ahead of Trump's speech at Bitcoin Conference in Nashville

At 12:30 am IST, Bitcoin (BTC) was trading 4.3% higher at $67,060, while Ethereum surged over 3% to $3,265. Meanwhile, the global cryptocurrency market cap rallied by 3.53% to around $2.4 trillion in the last 24 hours.

ITR filing 2024: How many times can you change your tax regime in a financial year?

Tax regimes: The Income Tax Department offers individuals the opportunity to select their income tax regime for a given financial year. The frequency of switches permitted depends on your profession or specific criteria set forth by tax regulations.

Studying in Australia: What is the cost of living in Down Under?

Key cities are in close proximity to prestigious educational institutions.

US inflation rises moderately in June

The personal consumption expenditures (PCE) price index nudged up 0.1% last month after being unchanged in May, the Commerce Department's Bureau of Economic Analysis said on Friday. In the 12 months through June, the PCE price index climbed 2.5% after rising 2.6% in May.

ITC to invest ₹20,000 crore in medium term: CMD Sanjiv Puri

The cigarettes-to-hotels conglomerate ITC Ltd will be investing ₹20,000 crore in the medium term across businesses, Chairman and MD Sanjiv Puri announced. He was addressing the shareholders during the company’s Annual General Meeting on Friday. “Our confidence in the India story is unwavering and is reflected in your company’s investment outlay of about ₹20,000 crore in the medium term,” he said.Puri added that the investment will be aimed at...

Thailand plans to give $275 cash handouts to 50 million low-income citizens

Thailand plans to spend $13.7 billion giving cash handouts to 50 million people in a bid to stimulate its economy.

US inflation data lifts global stocks, lowers Treasury yields

Global equities rebounded on Friday as U.S. economic data indicated improving inflation, which lowered Treasury yields. The PCE price index rose 0.1% in June, aligning with expectations and raising confidence in potential Fed rate cuts. Wall Street saw notable gains, with the Dow rising 1.64%, while oil prices dropped due to Chinese demand concerns.

Smart Money | A plan for your lifestyle

Change your mindset to fit your shifting financial needs, rather than trying to fit your lifestyle into rigid rules to realise your financial dreams

The Rock 2024 net worth, WWE salary & more

Dwayne 'The Rock' Johnson, starting his WWE career in 1996, has achieved Hollywood success and amassed a net worth of around $800 million. Currently, he is under a $30 million deal with TKO Holdings. He also engages extensively in charitable activities. His car collection includes supercars and hypercars, showcasing his immense success.

RBI Tells Banks To Hike LCR As Deposits Get Withdrawn Faster | CNBC TV18

Packers QB Jordan Love ties record for NFL's highest-paid player with massive contract

Jordan Love's four-year, $220 million contract extension ties him with Joe Burrow and Trevor Lawrence for the title of the NFL's highest-paid player.

Sitharaman may open doors for private firms in all public sectors

Finance Minister Nirmala Sitharaman has indicated a significant shift in India's economic policy by suggesting that private companies may soon be able to invest in all public sectors. This interview with The Economic Times echoes the Finance Bill 2021, which has already received cabinet approval.

Which financial tool is most suitable for different types of emergencies?

Sachin managed his financial emergency through an emergency fund, credit cards, and a personal loan, ensuring stability and support during unexpected job loss and relocation.

Tata group's market capitalisation surpasses $400 billion, boosted by TCS and Tata Motors

Tata Group became the first Indian conglomerate to race past a combined valuation of $400 billion on Friday. The salt-to-software group has 26 companies listed on the bourses, and they have added a whopping $100 billion over the last year.From June lows, the aggregate market capitalisation of the group has increased by 15.4%, which stood at $401 billion (₹33.6 lakh crore) as of Friday’s close.With a market capitalisation of $190 billion, Tata...

Sensex surges 1,293 points as FPIs snap selling spree

Across-the-board buying lifted the sensex by 1,293 points (1.6%) on Friday which closed at 81,333 points, less than half a percentage point off its all-time high mark. Rally in global markets, along with strong quarterly numbers for most of the domestic companies boosted investor sentiment, brokers and analysts said.On the NSE, Nifty gained 429 poi...