Financial Assets

Net claims of non-residents on India declined by USD 19.8 billion during the second quarter of the current financial year to USD 348.5 billion in September 2024, according to RBI data released on Monday. Higher rise in Indian residents' overseas financial assets (USD 66.5 billion) compared to that in the foreign-owned assets in India (USD 46.7 billion) led to a decline in net claims of non-residents during the quarter. Net claims of non-residents on India is the difference between the assets and liabilities held by non-residents in India. "Over 80 per cent of the increase in overseas financial assets during July-September 2024 was due to the surge of USD 53.8 billion in the reserve assets," said data on 'India's International Investment Position (IIP), September 2024'. RBI further said the rise in inward portfolio investment (USD 16.5 billion) and loans (USD 15.4 billion) together accounted for over two-thirds of the rise in foreign liabilities of Indian residents during the ...

Capital markets regulator Sebi on Friday proposed revamping the nominations framework in a bid to reduce unclaimed assets in the securities market as well as smoothen the process for claiming the assets by surviving successors of the deceased investors. In its consultation paper, the regulator proposed revisions to nomination facilities for securities such as shares, bonds, units of REITs (Real Estate Investment Trusts), InvITs (Infrastructure Investment Trusts), AIFs (Alternative Investment Funds) and other securities held in dematerialized form and for units of mutual fund schemes that are expressed in a statement of account. This will address the objective of providing convenience to investors and uniformity in the procedures to institutions. Such revamped nomination facilities will operate without affecting the prevalent systems of law governing transmission and succession -- rule of survivorship in case of joint holdings, when a person has died leaving a Will; and when a perso

This week we advise on what to do about your money goals and how to plan a getaway investment in the greens

A prolonged Israel-Hamas conflict may, at some point, pose a threat to Indian financial assets

Penalties for non-disclosure or inaccurate disclosure of these details can be severe, say experts

India is pressing for expanding the scope of common reporting standard (CRS) at the G20 to include non-financial assets, like real estate properties, under the automatic exchange of information (AEOI) among OECD countries, Revenue Secretary Sanjay Malhotra said on Thursday. Presently, the OECD's Automatic Exchange of Information (AEOI) framework provides for sharing of financial account details among signatory countries with an aim to check tax evasion. In August 2022, the OECD also approved the Crypto-Asset Reporting Framework (CARF) which provides for the reporting of tax information on transactions in crypto assets in a standardised manner, with a view to automatically exchanging such information. Addressing the meeting of the 'Asia Initiative of the Global Forum on Transparency and Exchange of Information for Tax Purposes', Malhotra said there is also a need to broaden the scope of AEOI so that the information could be used not only to check tax evasion, but also for other non-ta

Its importance is seen in its ability to hugely influence the nation's economy, as it reflects aggregate demand in addition to household consumption, business investment, and net exports

Its importance is seen in its ability to hugely influence the nation's economy, as it reflects aggregate demand in addition to household consumption, business investment, and net exports

Hindu and Christian personal law treat adopted child on a par with natural-born ones

A task force had recommended changes in indexation benefit rules for the capital gains tax in 2019, and it is expected to be the main basis of the review

The sharing of experiential assets requires one to upgrade that asset into a customer-friendly form

RIL was the lone bidder for the company with a Rs 825-crore offer as against the dues of Rs 2,100 crore of banks

Cryptoassets have come under the regulatory spotlight amid concerns they could be used to circumvent financial sanctions imposed on Russia since its invasion of Ukraine

Cryptocurrencies need to be regulated like any other financial asset and it would be unwise for India to ban private crypto assets, a study released by Observer Research Foundation said

Most of the assets are held outside Afghanistan potentially putting most of them beyond the insurgents' reach, according to Afghan officials, including the bank's acting governor, Ajmal Ahmady

The life insurance kind of 'statutory nomination', which confers final ownership on the nominee, is the need of the hour for all assets

Here are the best of Business Standard's opinion pieces for Tuesday

Plan aimed at price discovery of assets; IBA working closely with FinMin, RBI

Bitcoin traded at around $51,300 as of 1:30 pm on Friday in Hong Kong after quintupling in the past year

If your children live abroad, rely more on financial assets as they are easier to liquidate and move across borders