The capital market regulator, Securities and Exchange Board of India (SEBI), has proposed a Self Regulatory Organisation (SRO) for the wealth management industry to regulate the business. According to SEBI, the new SRO would also serve as a medium for SEBI to implement its various initiatives for the wealth managers. Any regulation or guideline in […]
In a move which could improve the fund flow and provide some stability to the choppy Indian bourses, the finance ministry has relaxed norms for foreign nationals and foreign institutional investors (FIIs) to obtain Permanent Account Numbers (PAN) that could also double as KYC (know your customer) compliance for any investment they make in Indian […]
Millionaires in India are likely to see their wealth grow by a whopping 405 percent over the next decade — the fastest in the world, according to a study by global consulting major Deloitte. “Among emerging markets in 2020, India is likely to have the highest per capita wealth among millionaires with $4.25 million — […]
Asia is likely to get richer, with the number of high net-worth individuals (HNWIs) in the region pegged to touch the 2.8 million-mark in the next four years, driven by robust economic growth, a high savings ratio and the rise of Asian exchange rates, says a report. According to a report by brokerage and investment […]
The cost of trading in shares is likely to go down. The Union finance ministry has taken up a review of the current Securities Transaction Tax (STT) regime after a meeting with top exchange officials yesterday http://www.business-standard.com/india/news/share-trading-may-become-cheaper/448410/
The high interest rates being offered by banks seem to be luring people away from the small savings schemes such as PPF and NSC. A Finance Ministry report tabled in Parliament on Tuesday says that the net small savings deposits turned negative in the first quarter of the fiscal 2011-12. “The decline in small collection […]
The Finance Ministry on Tuesday asked stock exchanges to provide “consolidated inputs” for improving the depth and liquidity of stock markets. They were also asked to give suggestions for expediting the setting up of SME platforms so that resource mobilisation by SMEs can be facilitated. The move to ask stock exchanges to provide their inputs […]
Are you a non-resident and have sold listed shares of an Indian company in an off market deal? In that case, Long term capital gains on sale of such shares could be taxable at the rate of 20%. This is as per the recent pronouncement by the Authority for Advance Ruling (‘AAR’) in the case […]
