Money

Why deferred annuity is a strategic investment to secure your future

Annuity plans offered a robust solution for post-retirement financial security. These plans provided a predictable income stream and protected against market volatility. Deferred annuity plans utilized the power of compounding, ensuring nearly double the payouts compared to immediate annuities. Over 75% of working Indians aspired for comfort in retirement, but only 33% actively saved for it.

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.

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.

Kalki 2898 AD Box Office Collection Day 30: Prabhas Starrer Remains Steady Amid Deadpool & Wolverine Release, Mints Rs 625 Crore

Kalki 2898 AD Box Office Collection Day 30: Directed by Nag Ashwin, the film is ruling over the box office. The dystopian sci-fi drama is now all set to cross Rs 630 crore mark in India.

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...

India Gold, Silver Prices Fall Nearly 5% On Budget Day Following A Cut In Basic Custom Duty

FM Nirmala Sitharaman Details Budget 2024's Impact On The Middle-Class Income

Union Finance Minister Nirmala Sitharaman presented Budget 2024 in parliament on Tuesday. During this session, she announced the revision of the income tax slab for the new regime, which will give marginal relief to the middle class. In a post-budget interview, FM said that the government revised the tax slabs to provide more benefits to the middle class and working citizens across the country. This adjustment in tax policy is intended to...

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.

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.

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.

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.

Golden Opportunities: The Benefits Of Investing In Gold And Essential Documents Required

Gold has long been regarded as a premier investment option, highly favoured in India due to its high liquidity and ability to counter inflation. Investors in India have a variety of ways to invest in gold, ranging from traditional physical forms to modern financial instruments. While gold does not provide regular income like stocks or bonds, it often offers significant advantages such as liquidity and inflation protection. Investors who do not...

How to earn money on YouTube: A comprehensive guide to monetizing your channel

Elevate your YouTube channel's success by producing top-notch content, fostering viewer engagement, and utilizing analytics for strategic enhancements, leading to increased revenue opportunities and audience growth.

NTPC board declares August 7 as record date for Rs 3 dividend

Earlier in the month of May, NTPC had announced a dividend for its shareholders along with the declaration of its Q4 results for the financial year 2024.

Mirae Asset Large and Midcap Fund to accept lumpsum, SIP, STP from Aug 1

Mirae Large and Midcap Fund had suspended lumpsum investments since October 25, 2016, but continued to accept investments through SIPs. In November 2020, the fund house had restricted subscription in the scheme to Rs 2,500 through monthly SIP which was increased to Rs 25,000 per person in October 2023.

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.

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

Most buyers now will pay substantially more in capital gains tax

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.

Economists praise fiscal discipline in Budget 2024 despite election year challenges

In the India Today-Business Today Budget Round Table 2024 economists meticulously dissected the budget to understand its implications on various sectors of the economy.

Oxfam Report Reveals Top 1% See $400,000 Wealth Increase, Bottom 50% Get Just $335

The wealthiest 1% have gained $42 trillion over the past decade, 34 times more than the bottom 50%, says Oxfam. As G20 ministers meet in Rio, there's a push to raise taxes on the super-rich. Oxfam calls for an 8% net wealth tax to address extreme inequality and tax avoidance.

10 tried and tested ways to save money

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

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...

USA To Singapore, A Look At LTCG Of Other Countries Compared To India

Finance Minister Nirmala Sitharaman presented the Union Budget 2024 on Tuesday, July 23. The salaried middle-class income group was the most disappointed with this budget, especially due to the increase in taxes. The Long Term Capital Gains Tax (LTCG) has been increased from 10 percent to 12.5 percent. Short-term Capital gain tax (STCG) has been raised from 15 percent to 20 percent. For the benefit of the lower and middle-income classes, it was...

IDFC First Bank Q1 Results: Profit falls 11% to Rs 681 crore, NII jumps 25%

The pre-provisioning operating profit rose 25.5% to Rs 1,882 crore as compared to Rs 1,500 crore in the corresponding quarter of the previous fiscal year. During the quarter, IDFC First Bank's GNPA came to 1.9%, a drop of 2 bps sequentially. The net NPA rose up marginally by 1 bps to 0.59% quarter-on-quarter.​

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

‘Sold Gold Utensils, Thrones To Survive’: Maharani of Baroda Reflects On Royal Families' Financial Struggles, Gets Trolled

In a recent appearance on Ranveer Allahbadia’s podcast, Gaekwad discussed the impact of the 1971 policy that ended financial support for former rulers of princely states.

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"

Milk producers await payments worth ₹602cr; govt says facing fund crunch

While the five guarantee programmes seek to reduce poverty, they have strained the state’s financial resources, according to Congress MLAs

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.

Rupee slumps to a record low amid oil demand, month-end pressures

The local currency closed at 83.7275 per US dollar on Friday, versus the previous close of 83.6975/$1, LSEG data showed. The rupee has weakened for four out of five trading sessions this week. On a weekly basis, the currency weakened 0.1%

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...

Math made easy: Ten strategies to overcome anxiety

Here are ten strategies to overcome math anxiety. Check the complete guide.

Credit card dues show financial troubles

Now, we look at the surging past dues on credit card bills in the US... The share of past dues on credit cards in the US has jumped to the highest since 2012... Is this pointing to a financial crisis for US consumers? Take a look at this report

'...people in their 20s... doing F&O...' Edelweiss's Radhika Gupta's sharp take

Radhika Gupta, CEO of Edelweiss Mutual Fund, raised concerns about young investors funding their lifestyles through risky trades. Highlighting the Economic Survey 2023-24, she urged action against this trend, citing its dangers to individuals and the economy.

NSE tightens collateral rules: Over 1,000 stocks, including YES Bank, Adani Power, Paytm removed

Starting August 1, over 1,000 stocks will no longer be accepted as collateral for margin funding by the National Stock Exchange. The exchange will only accept securities as collateral if they have been traded on at least 99% of the days over the last 6 months and have an impact cost of up to 0.1% for an order value of Rs 1 lakh. Notable companies such as Adani Power, YES Bank, Suzlon, Bharat Dynamics, and Paytm are among the 1,010 securities that have been removed from the list of eligible collateral. Watch!

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.

'Stock market se ishq kariye, par...' - Union Minister Piyush Goyal shares investment mantra

Stressing that infrastructure projects have a huge multiplier effect on the Indian economy, Goyal added that Modi 3.0 is a strong coalition government, and all coalition partners are strongly aligned. "There will be a strong government over the next five years and the government will continue the path laid in the past decade," he added.

Gold, Silver Prices Today: Check Latest Bullion Rates In Your City on July 27

Gold Rate Today In India: On July 27, gold prices in India fell and continued to trade below Rs 70,000 per 10 grams. This rate includes a premium for the highest purity gold, with 24-carat gold priced lower at Rs 68,720 per 10 grams. For those interested in jewellery, 22-carat gold, which is more durable due to its slight alloy mix, was priced at Rs 62,990 per 10 grams.The government on Tuesday reduced customs duties on a range of products,...

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.

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.

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...

Commodity investors to focus on FOMC statement next week as markets nearly certain of first rate cut in September

By Kaynat Chainwala, AVP - Commodity Research at Kotak SecuritiesTamer US inflation figures provided markets a much needed relief at the end of the turbulent week (ended July 26) marked by political uncertainty, sell-off in global tech shares and serious concerns about Chinese economic recovery. Following a sharp pullback from all-time highs in the previous week, Gold prices briefly recovered and surged above $2400 per troy ounce earlier this...

Govt Increases Prices Of Bharat Rice And Atta, Bar Cash Transactions To Keep Tab On Surging Prices: Report

The government has reportedly hiked the retail prices of subsidised Bharat rice and wheat and also extended the sales of grain to keep a tab on the surging prices. The authorities have also barred cash payments for the sale of commodities by agencies to help control diversion, media reports said. A report by The Financial Express cited sources in the know and said that the authorities are revising prices taking into account the availability and...

Meet the 10 highest-paid CEOs in India

These CEOs are not only some of the highest-paid professionals in India but also key drivers of their companies' successes, exemplifying the impact of strong leadership in the corporate world.

Pakistan seeks $300 million panda bonds investment from China to stem economic crisis

With an aim to improve the financial stability of a cash-strapped country which is grappling with several other challenges such as high inflation and declining forex reserves, Pakistan has sought cooperation from Chinese institutional investors to launch Panda Bonds to raise between $250 million and $300 million initially.Also Watch: Why China Has Rejected Pakistan's Proposals to Expand BRI | Vantage with Palki SharmaFederal Minister for Finance...

15 best financial planning hacks every millennial should know

Key financial tips for millennials include gaining financial literacy, minimizing credit card usage, budgeting effectively, investing 20% of income, creating an emergency fund, managing surplus cash, planning for retirement, and managing debt wisely.

Top Stories | FM defends tax tweaks, Ola IPO, markets hit record high, Q1 results, and more

FM Sitharaman has defended the new tax changes from the budget, while also promising that the govt is committed to keeping the spending spree going. From the markets, the Sensex and Nifty wrapped up the budget week on a high note, hitting new record highs. The icing on the cake: it’s the 8th week of gains in a row, the longest winning streak we have seen in 7 years.Meanwhile, the word on the Street is that Ola Electric's IPO is set to kick off...

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