Billionaire Wealth Skyrockets in 2024 Amid Rising Inequality Global billionaire wealth surged from $13 trillion to $15 trillion in 2024, marking the second-largest annual increase since Oxfam began tracking wealth data, the charity revealed in its annual inequality report on Monday. Meanwhile, the number of people living in poverty has seen little improve

Capital One has confirmed that it is experiencing a technical issue affecting a range of its customer-facing services. The problem has led to widespread reports from customers who are unable to access deposits, view account balances, or make transactions.   Nature of the Issue According to a statement from Capital One, the outag

  Trump equates trade deficits with financial losses, a perspective economists generally refute. A trade deficit simply means the country imports more than it exports, not that it's losing money. For example, the U.S. had a $67.9 billion trade deficit with Canada in 2023, far less than Trump's claim of "$200 billion." Economist Gary Clyde Hufbauer's analogy highlights this

As of May 2024, the Indian diaspora remains the largest globally, with 35.4 million Non-Resident Indians (NRIs) and People of Indian Origin (PIOs) living abroad, primarily in the UAE and the US. However, changes to tax residency rules introduced by the Finance Act, 2020, have been met with criticism from experts and industry groups, including the Bombay Chamber of Commerce and Industry (BCCI), who argue that the amendments add complexity without yielding significa

 Decoding GDP: Understanding the World's Most Powerful Economic Indicator Gross Domestic Product (GDP) is a widely used indicator of a country's economic performance. It represents the total value of goods and services produced within a country's borders over a specific period, usually a year. In this article, we will delve into the concept of GDP, its calculat

The recently concluded "Prashasan Gaon ki Ore" campaign, conducted from December 19-24, saw the disposal of nearly three crore service delivery applications, underscoring the government's commitment to ease of governance. Spearheaded by the Department of Administrative Reforms and Public Grievances, the campaign focused on simplifying administrative procedures and ensuring faster delivery of services to citizens. The campaign aimed to implement Prime Minister Narendra

Non-Resident Indian (NRI) deposits have seen a significant surge, with inflows reaching $12 billion in April-October FY25, almost double the amount deposited during the same period last year ¹. This growth is attributed to the three main NRI deposit schemes: Foreign Currency Non-Resident (FCNR) deposits, Non-Resident External (NRE) deposits, and Non-Resident Ordinary (NRO) deposits.  

Former Indian Prime Minister Manmohan Singh passed away on Thursday at the age of 92. Singh was admitted to the All India Institute of Medical Sciences (AIIMS) in New Delhi after his health deteriorated, and despite efforts to revive him, he was declared dead at 9:51 p.m.   Singh served as India's 14th Prime Minister from 2004 to 2014 and was a renowned economist who played a pivotal role i

In a globalized world, transferring money internationally has become a necessity, whether you’re supporting family, paying for services, or managing student expenses abroad. Let’s explore the most affordable and reliable methods to send money internationally. Cost-Effective Ways to Send Money Abroad 1. Peer-to-Peer Payment Platforms Peer-to-peer (P2P) platforms like PayPal, Venmo, and Wise connect senders and receivers

India’s startup ecosystem has become a powerhouse of innovation, shaping industries and driving transformative change across various sectors. With entrepreneurship deeply rooted in India’s economy and culture, the tech industry alone is expected to grow by 3.8% in FY24, surpassing $250 billion, according to NASSCOM. From Artificial Intelligence to quick commerce, startups are not just capturing investors’ interest but also laying the groundwork for groundbreaking a

6 Financially Smart Ways to Start 2025 As 2025 approaches, it's the perfect time to reassess your financial situation and make adjustments to help you achieve your goals. A little planning now can set the stage for a successful year. Here are six detailed steps to guide you: Revisit Your Budget: Start by thoroughly reviewing your current budget. Take stock of your income sources and all expenses, including fixed c

SEBI Bars YouTuber Ravindra Balu Bharti and Associates from Securities Market Until 2025 The Securities and Exchange Board of India (SEBI) has barred YouTuber Ravindra Balu Bharti and his company, Ravindra Bharti Education Institute Pvt Ltd, from accessing the securities market until 4 April 2025. SEBI has also ordered them to disgorge ₹9.50 crore, along with 6% simple annual interest, for unlawful gains earn

In a swift move following Chrystia Freeland’s resignation as Canada’s Finance Minister, Prime Minister Justin Trudeau appointed long-time ally Dominic LeBlanc to the pivotal role. The 57-year-old LeBlanc, who previously served as Public Safety Minister, now faces the daunting task of managing Canada’s finances amidst a growing Can$62 billion deficit—far exceeding initial projections. The Canadian economy is also grappling with various challenges, including the looming

RBL Bank and Bajaj Finance Ltd. have mutually decided to stop issuing new co-branded credit cards following discussions that have taken place over the past month. While the change will not affect RBL Bank’s overall credit card business, it marks the end of a significant partnership that previously accounted for a large portion of RBL Bank’s card issuances. As of September 2023, Bajaj Finserv co-branded cards represented 41% of RBL Bank’s total credit card issuances.

The Finance Ministry is set to review the windfall tax on fuel exports, including petrol, diesel, and Aviation Turbine Fuel (ATF), following the stabilization of global crude oil prices. The tax, introduced in July 2022, was implemented to address the substantial profits earned by oil refiners exporting fuel, which had an impact on domestic supplies. The review will assess the tax’s effectiveness and the revenue it has generated, with the Ministry of Petroleum and Natural Gas already re

The Andhra Pradesh Finance Minister, Payyavula Keshav, presented a Budget of Rs 2,94,427 crore for the financial year 2024-25, marking a 5.40% increase from the previous year. The budget allocation includes Rs 2,35,916 crore for revenue expenditure and Rs 32,712 crore for capital expenditure. The estimated revenue deficit is around Rs 34,743 crore, with a fiscal deficit of approximately Rs 68,742 crore, accounting for 4.19% and 2.12% of the Gross State Domestic Product (GSDP) respectively.

Bitcoin surged past $73,000 on Tuesday, approaching its all-time peak as investors eagerly anticipated the upcoming U.S. presidential election. According to Coin Metrics, Bitcoin’s value recently climbed by 3.8%, settling around $72,333.10. Earlier, it spiked to $73,601.59, its highest point since March 14—the same day it reached its record price. This rise triggered significant short liquidations, totaling over $113 million in the last 24 hours, as reported by

The mutual fund industry in India reported net outflows of ₹71,114.08 crore for September 2024, as per the latest data from the Association of Mutual Funds in India (AMFI). This decline follows a staggering 42.8% drop in August, where cumulative inflows into mutual funds were recorded at ₹1.08 lakh crore. Equity mutual funds saw a decline in inflows by 9.9% in September, totaling ₹34,419.26 crore, down from ₹38,239.16 crore in August. The net assets under management (AUM) of

Chief Minister N. Chandrababu Naidu has demonstrated exceptional administrative skill by securing Rs 2,500 crore in dues from Telangana, a crucial recovery for Andhra Pradesh. This amount, related to foreign loans taken during the united Andhra Pradesh era, was due from Telangana as its share of the loan repayments. Following the bifurcation in 2014, Andhra Pradesh had been covering both states' loan responsibilities. Despite previous administrations under K. Chandrasekhar Rao a

In a significant political move, Thalapathy Vijay, a major figure in the Tamil film industry, has officially launched the flag and symbol of his newly established party, Tamilaga Vettri Kazhagam. The unveiling event showcased a flag featuring a red and yellow color scheme with flower and elephant symbols. This marks a crucial step in Vijay's transition from cinema to politics. During the e