AI, Hyper Personalization to Change Wealth Management in India: 5 Trends That Will Drive Wealth Advice in 2023
For the past two decades, accommodative central bank policies have been tailwinds for wealth creation.?Global financial wealth has tripled, rising from $80 trillion in 1999 to $226 trillion in 2020. The drivers for wealth creation in India remain strong.?India has the second highest number of HNIs amongst BRICS nations.?India’s HNI population is expected to grow from 3.5 Lakhs in 2020 to 6.2 Lakhs in 2025.?Ultra HNIs are expected to increase from 13,600 in 2021 to 19,000 in 2026.
Week ahead expected to be long-heavy, trend bullish; Bank Nifty can surpass 44,600
With more than 67% of stock futures attracting long build up in the expiry week, and FIIs holding more than 25% of the market wide long positions in index futures, we are certainly going into the week long heavy. This prompts us to take a defensive after achieving the 18,660 objective, which we had set out with last week. In order to let profits run in the face of potential rejection trades, as we come closer to the record peak for the first time in five months, it would be prudent to keep the downside marker at 18,430.
Rupee struggles against strong dollar, weak sentiments; dollar may retreat from 2-month high
Rupee was caught between 82.90 and 82.60 levels in the previous week on the back of strong dollar and weak global market sentiments. Dollar gained strength amid jitters over debt ceiling negotiation and as Fitch put the country on credit watch for possible downgrade. Additionally, the US Dollar gained this week and stood near 2-months high as better-than-expected economic data from the US fueled the bets that interest rates may remain elevated for a longer than expected period.
Can non-salaried persons claim deduction against rent paid to a landlord while filing ITR?
Salaried taxpayers are allowed to claim House Rent Allowance (HRA) exemption against the actual rent paid by them subject to certain?conditions. But, is there any such Income Tax provision for tax deduction benefits to non-salaried persons living in a rented house? FE PF Desk connected with some tax experts for the answer to this query. Read on to find out what they say.
Experts say that small tax relief against rent paid is available to non-salaried as well as salaried employees who are not getting HRA.
Is it possible to pay off a personal loan before tenure?
Repayment of a personal may become challenging at times especially when you have hastily taken the funds without going through the details. When you take a personal loan, it is important to carefully review the loan agreement or contact the lender to understand their policies regarding prepayment.
Some lenders may allow prepayment without any penalties or fees, while others may impose certain charges or penalties for early repayment. You can consider repayment of your personal loan when you get additional funds, or you have surplus money. Before paying off your personal loans, you must know all pros and cons and go ahead when it is financially beneficial.
Apple to expand trade-in program for new Macs at WWDC, report says
Apple will begin accepting trade-ins for three new Mac models on June 5, the day of the company’s annual Worldwide Developers Conference (WWDC), according to a report from Bloomberg’s Mark Gurman. The three eligible models are the Mac Studio, 13-inch M2 MacBook Air, and 13-inch M2 MacBook Pro.
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The trade-in program is a way for Apple customers to get credit towards the purchase of a new Mac or any other Apple device. The amount of credit you receive will depend on the condition of your old device.
Northeast India’s first Vande Bharat Express! PM Modi flags off train today – Know inaugural run, stoppages and other details
Northeast India’s first?Vande Bharat Express?has commenced its maiden run today. This semi-high speed train will connect Assam and West Bengal. The train has been flagged off by Prime Minister Narendra Modi via video conferencing from New Delhi.
This is the seventh semi-high speed train introduced in FY 2023-24.?This is also the first blue and white colour train to be operated and maintained by the?Northeast Frontier Railway (NFR) zone.
Buy Ola, Ather, Chetak electric scooters now and save up to Rs 35,000: Here’s how!
Electric scooters are increasingly becoming popular in India. But, the EV industry will soon hit a new roadblock as they are all set to get costlier from June 1, 2023. The central government will reduce the FAME 2 subsidy amount on electric two-wheelers which will naturally translate into higher product prices. Thus, one can purchase an Ola, Ather, Bajaj Chetak, TVS iQube or any other electric scooter right now and save up to Rs 35,000.?
As oral illnesses continue to be major burden in India, dental care is still not a priority
A recent global health survey had revealed that only 45 per cent Indians brush their teeth twice daily as compared to the 78-83 per cent that China, Colombia, Italy, and Japan have reported.
Studies suggest oral diseases affect nearly 3.5 billion people worldwide. Despite being largely preventable,?oral diseases?pose a major health burden for many countries and affect people throughout their lifetime, causing pain, discomfort, disfigurement, and even death.
New Bajaj-Triumph Scrambler vs Harley-Davidson X440: Which upcoming motorcycle should you buy?
Many new motorcycles are coming to India, a host of them from Royal Enfield including the 650cc scrambler and the Himalayan 450. However, two brands that have got fans excited are the Bajaj-Triumph motorcycle and the new Harley-Davidson X440.
So if you are waiting to buy a new motorcycle and have your eyes on either the Bajaj-Triumph or the Harley-Davidson, here’s a quick comparison between the two to help you make up your mind.
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