Reserve assets rose by USD 34.8 bn, net claims of NRI decreased by USD 12.2 bn: RBI
New Delhi [India], March 30 (ANI): The Reserve Bank of India (RBI) disclosed the latest figures concerning India’s International Investment Position (IIP) as of December 2023 showing a decline in net claims of non-residents on India, plunging by USD 12.2 billion during the period from October to December 2023, culminating at USD 370.4 billion by […] Key Points
ThePrintED attaches assets worth Rs 1.26 crore in Dehradun cyber fraud case
New Delhi [India], March 26 (ANI): The Enforcement Directorate (ED) has attached assets worth approximately Rs 1.26 crore linked to Dehradun-based A to Z Solutions, which is accused of duping foreign customers by providing fake online support services. The assets were attached in connection with a money laundering case involving A to Z Solutions — […] Key Points
ThePrintStrata in talks to buy commercial realty across cities
Strata is aiming for assets under management of Rs 2,000 crore by the end of 2023-24. It surpassed its AUM of Rs 1,300 crore and aims to expand its presence in western states such as Maharashtra, Rajasthan, and Gujarat. Strata allows investors to own and sell fractions of pre-leased, Grade-A commercial properties like office spaces, warehouses, industrial assets, etc. Key Points
Economic Times4 things that can go wrong if you invest just to save tax
Many investors view tax concessions as choices that must be optimised. Why should we worry about this? We may end up with an asset allocation that wont serve our goals and needs. We may give up operational flexibility while choosing products. We may not be able to access the asset for other important uses. Key Points
Economic TimesLenders look to derisk promoter guarantees, implementing negative liens to safeguard assets
In response to the recent Supreme Court order upholding recovery provisions against personal guarantors, Indian lenders are now taking measures to protect their interests. They will require a negative lien on the assets underlying personal guarantees given by promoters of companies raising bank loans. This will prevent promoters from transferring these assets to a special trust that is bankruptcy remote. Key Points
Economic Times
Net claims of non-residents on India rise to USD 379.7 billion in June quarter: RBI
According to data from the Reserve Bank of India (RBI), net claims of non-residents on India increased by USD 12.1 billion to USD 379.7 billion in the June quarter. The rise in net claims was primarily due to an increase in foreign-owned financial assets in India. The data also showed that reserve assets accounted for 64.2% of India's international financial assets at the end of the quarter. The RBI noted that the ratio of India's international assets to international liabilities slightly decreased compared to the previous quarter and the same period last year. Key Points
Economic TimesState Bank of India may have attracted top distressed asset buyers' interest for its bad loans
Global and local distressed asset investors are considering buying some of State Bank of India's bad loans. The bank has identified 331 non-performing assets with a total value of $11.6 billion. The move comes as Indian lenders have increased efforts to identify and sell distressed assets following transparency and efficiency reforms. SBI had put up 150 distressed assets worth $5.3 billion for sale in the previous financial year. Key Points
Economic TimesCan I draft a will that benefits my family as per my terms?
You can draft a will for all your assets. The will should have details of the beneficiaries and details of all assets and investments. The will should then specify the distribution of assets as per your wishes. Key Points
mintTransactions worth Rs 1.3 lk cr completed under Natl Monetisation Pipeline in FY23
Transactions with aggregate monetisation value of about Rs 97,000 crore and Rs 1.3 lakh crore were completed during 2021-22 and 2022-23 respectively in terms of accruals or private investment under the National Monetisation Pipeline. Monetisation of assets identified under NMP is envisaged either through structured public private partnership (PPP) framework or through capital market-based instruments. Key Points
Economic TimesWhy putting all your money in property and gold is a bad investment strategy
The lure of assets like gold and realty are visible. They enhance the social status and signal to the world that this family is wealthy. People like that attention. Financial assets that lie electronically hidden dont offer that kind of optics. Key Points
Economic Times
5-point financial checklist to prepare for retirement, 4 red flags to know
Make sure your assets are not concentrated in your home. If the house you live in is worth Rs.2 crore, your financial assets are worth Rs.50 lakh, and you are going to retire without any pension, you may be at risk. Your biggest asset will earn no income and you will leave it behind for your heirs. Key Points
Economic TimesWindfall from Russia's frozen assets in Europe could be $3 billion a year - Belgium
Belgium's prime minister said on Friday the windfall profit from Russia's frozen assets in Europe could provide 3 billion euro ($3.27 billion) a year to rebuild Ukraine. Key Points
ReutersHow to write a will: Steps to be followed, necessary paperwork needed to make a valid will
There is no specific format for making a will. However, one needs to be clear and unambiguous while drafting one. Key Points
Economic TimesWill is key to safeguarding your family’s inheritance
A nominee is like a custodian till the court orders how to divide assets. It is the duty of nominee to split the sum. Key Points
mintNexus Select Trust REIT IPO: India’s first rental yielding retail REIT opens. Should you subscribe?
Nexus Select Trust plans to raise Rs 3,200 crore through an 3-day IPO opening on 9 May. The firm is the owner of India's largest mall platform consisting of 17 assets. The trust will become India's first REIT with rent-yielding retail estate assets, with the IPO comprising a fresh offering and OFS portion worth up to Rs 1,800 crore. Key Points
Economic Times
Credit Suisse: Impact on Indian banking unlikely
Of total assets, Rs 1,900 crore are in form of cash and bank balance, Rs 900 crore in cash credits, overdrafts and loans, and Rs 14,600 crore in the form of government bonds, among others. Twenty top borrowers account for 99.9% of the bank’ s total loans. Key Points
FinancialexpressCredit Suisse Is More Relevant To India's Financial System Than SVB: Jefferies
Credit Suisse has only one branch and has 1.5% share among foreign banks' assets and 0.1% in sector assets. Key Points
BQ PrimeIL&FS plans sale of some road assets as InvIT transfer faces hurdles
IL&FS had plans to transfer around a dozen road assets to the InvIT, Roadstar Infra Investment Trust (RIIT). While it has already transferred five of the assets, the transfer of another five is delayed due to legal challenges by lenders and other issues. The process of transferring one asset is progressing, while it has excluded another from the process. Key Points
Economic TimesProperty Share dives into warehousing sector, to raise investment in Flipkart-leased facility
Property Share plans to tie up warehousing assets in tier I and tier II cities, aiming for an AUM of over Rs 1,000 crore. It owns three warehousing assets in the UK and is raising capital against its first India warehousing asset in Jaipur, rented to Flipkart. Key Points
Economic TimesVodafone Idea close to selling fibre assets, eyes up to Rs 12,000 crore
Vi had tried to sell its fibre assets and data centre business in 2019, but the deal could not be concluded due to differences over valuation. The company has over 160,000 km of optic fibre and, since wired broadband is set to be a big revenue stream, Vi is hopeful of closing the deal at a good valuation. Key Points
Economic Times
Russian asset manager files around $2 bln Euroclear lawsuit in Moscow
One of Russia's oldest asset managers, First AM, has filed a claim for 184.8 billion roubles ($2.04 billion) with the Moscow Arbitration Court against Euroclear Bank, court documents showed, trying to protect investors whose assets were frozen. Key Points
ReutersPoonawalla Fincorp prioritises profitability as NPAs ease
The return on assets for the Pune-based NBFC rose 172 basis points to 4.4% in FY23. Key Points
FinancialexpressKarnataka Elections 2023 | Karnataka boasts of highest average assets per minister, Andhra and Maharashtra close behind
A total of 27 ministers in poll-bound Karnataka own average assets worth Rs 34.6 crore, followed by Andhra Pradesh ministers who have average assets worth Rs 27.9 crore and Maharashtra lawmakers with average assets worth Rs 22.4 crore Key Points
FirstpostOverseas assets of Indians rose in Dec quarter of 2022-23: RBI data
According to India's international investment position for the October-December period of the current fiscal, released by the Reserve Bank of India (RBI) on Friday, net claims of non-residents in India declined by $12 billion during October-December 2022 and stood at $374.5 billion. The reduction in net claims was due to higher rise in Indian residents' overseas financial assets ($28.7 billion) as compared with the increase in foreign liabilities of Indians ($16.7 billion). Key Points
Economic TimesNIIF to raise half-a-billion dollars for road assets via Maiden InvIT
Initial discussions with merchant bankers have taken place and a couple of bankers will be hired soon, they said. The aggregate portfolio size of the seven roads assets would stand at approximately $2 billion, said sources. An NIIF spokesperson declined to comment. Key Points
Economic Times
assets of a deceased widow go to her in-laws or parents? Know why making a Will is more important for a wo
We are plagued with sophisticated laws, religious differentiations, and circumstantial nuances that need to be carefully navigated to ensure that the last wishes of a woman are honoured. The silver lining? A legally valid Will. Key Points
Economic TimesNo decision to introduce plastic notes: MoS Finance
Minister of State for Finance Pankaj Chaudhary stated that the government has not made a decision to introduce plastic notes. The government is continuously working to improve the durability and counterfeit resistance of Indian banknotes. According to the RBI Annual Report 2022-23, no cost has been incurred on the printing of plastic notes. Key Points
Economic TimesNRIs and PIOs knock on RBI’s doors to transfer inheritance
The Reserve Bank of India (RBI) has reportedly rejected requests from Indians abroad to move money from banks and sell inherited assets above the $1 million allowed limit per financial year. This tightening of regulations has impacted non-resident Indians and those of Indian origin, causing hardship and limiting inheritance planning for some. Key Points
Economic TimesSeven new Karnataka ministers fighting serious criminal cases, says ADR report
According to a report by the Association for Democratic Reforms (ADR) and Karnataka Election Watch (KEW), out of the 32 ministers analyzed in Karnataka's newly expanded Cabinet, seven are battling serious criminal charges. Additionally, 97% of the ministers are crorepatis (with assets worth more than Rs 1 crore), whereas the average assets per MLA amount to Rs 119.6 crore. The youngest minister is Priyank Kharge, at 44 years old, while the oldest are CM Siddaramaiah and KH Muniyappa, at 75. Key Points
Economic TimesHow has the Adani Group fared so far and what is the value now? Deven Choksey answers
Coming to Adani Enterprises, instead of retail investors, this kind of business is definitely more meaningful if you are an institutional investor like pension fund, insurance fund, sovereign fund or a large-sized hedge fund, because it is producing unlocking of value in coming years. Also, I see the entire infrastructure portfolio of the company at the group level to begin with and then respective companies thereafter. Key Points
Economic Times
Know your rights: How men can protect their finances while going through a divorce
We have addressed the concerns of men heading for a legal separation. ET Wealth has listed the costs they may have to bear in a divorce, the manner in which courts decide maintenance and child support, as well as the legal fee they might have to pay. More importantly, we tell them about the precautions they can take when they know that a separation is imminent. Key Points
Economic Times