Category: News

  • Top 5 Investment Mistakes NRIs Must Avoid in India”

    Top 5 Investment Mistakes NRIs Must Avoid in India”

    India is becoming a popular place for Non-Resident Indians (NRIs) to invest their money. With its young workforce, growing digital economy, and stable government, India is a great opportunity for NRIs to grow their money. However, if you want to be successful, you need to avoid some common mistakes. Here are five big ones to watch out for:

    1. Forgetting to Update Your Status
    Many NRIs forget to change their residential status from Resident Indian (RI) to Non-Resident Indian (NRI). This mistake can lead to paying higher taxes because RIs are taxed on their global income, while NRIs are taxed only on money earned in India. Make sure to update your status to avoid unnecessary taxes and legal issues.

    2. Not Updating Your Foreign TIN
    If you don’t update your foreign Tax Identification Number (TIN) in India, you could end up paying taxes in both countries. This can happen because you won’t be able to claim credits for taxes paid abroad. Always keep your TIN updated to save money and avoid problems.

    3. Sticking Only to Tax-Free Products
    Some NRIs focus only on tax-free products like Foreign Currency Non-Resident (FCNR) Fixed Deposits. While they are safe, they usually don’t earn as much as other options like Dynamic Asset Allocation Funds (DAAFs). These can give you better returns. So, check different investment options to grow your money.

    4. Falling for Unrealistic Promises
    Be careful of schemes that promise high returns without clear details. Many NRIs have lost money by investing in unregulated funds or misleading insurance plans. Always do your homework, ask questions, and don’t fall for unrealistic guarantees.

    5. Ignoring Estate Planning
    Many NRIs skip making a will, which can create problems for their heirs after they are gone. Without a will, passing on assets in India can be complicated. A solid estate plan can help avoid disputes and ensure that your investments go to the right people.

    How to Avoid These Mistakes
    – Use GIFT City: It allows NRIs to hold funds in both Indian Rupees (INR) and foreign currencies, making transactions easier.
    – Know About DTAA: The Double Taxation Avoidance Agreement helps NRIs reduce taxes by crediting taxes paid in one country against what is owed in another.

    Conclusion
    India’s growing economy gives NRIs a great chance to invest and grow their wealth. By avoiding common mistakes and understanding the investment landscape, NRIs can make smart choices and achieve financial success

  • Sanjay Raut: BJP’s Hostility Towards Marathi Manoos on the Rise”

    Sanjay Raut: BJP’s Hostility Towards Marathi Manoos on the Rise”

    Shiv Sena leader Sanjay Raut has strongly criticized the Bharatiya Janata Party (BJP). He believes the BJP is creating a negative atmosphere for Marathi-speaking people, known as “Marathi manoos.” Raut claims that since the BJP won the state elections, there have been more attacks on Marathi speakers. He pointed out a recent incident in Kalyan, Thane district, where a Marathi family was supposedly attacked by non-Marathi speakers. Raut warned that this is just the start of a plan to drive Marathi people out of areas like Mumbai, Thane, and Kalyan.

    Raut said, “Attacks on Marathi manoos have increased after the elections. There’s an effort to force them out of their homes.” He believes a bigger plot is underway to marginalize Marathi speakers.

    He didn’t just stop there; Raut also criticized the state government over a tragic accident where 14 people died because of a clash between a Navy boat and a ferry. He argued that the government is failing to tackle increasing crimes in rural areas, like robberies and murders.

    Raut accused the BJP of weakening the Shiv Sena, a party that traditionally supports Marathi people. He said the BJP is splitting the Shiv Sena and turning its leaders into “puppets,” who care more about keeping their positions than the interests of Marathi speakers.

    Furthermore, he mentioned that the BJP’s actions are making it harder for Marathi-speaking businesspeople, while favoring non-Marathi businesses in the region.

    While responding to Deputy Chief Minister Eknath Shinde, Raut said that the people in the ruling Shiv Sena don’t care about the Kalyan incident and are too desperate for power. “The BJP wants to destroy the Marathi manoos,” he stated.

    Lastly, Raut commented on a recent fight in Parliament between rival political groups regarding Dr. B R Ambedkar and joked that some MPs should win an award for acting. He also pointed out that registration of a case against Rahul Gandhi is just another action by the BJP-led government

  • WHO and India Unite Against Climate Crisis and Health Challenges

    WHO and India Unite Against Climate Crisis and Health Challenges

    Tedros Adhanom Ghebreyesus, the Director-General of the World Health Organization (WHO), spoke out recently about how the climate crisis could increase conflict and division among people. He shared his thoughts on X, describing his experiences at the International Court of Justice in The Hague, where he talked about how climate change impacts health. He emphasized that the world needs peace, justice, and teamwork now more than ever.

    According to WHO, it’s estimated that climate change could cause around 250,000 extra deaths each year from issues like hunger, malaria, diarrhea, and heat stress between 2030 and 2050. The health-related costs from climate change might reach up to $4 billion per year by 2030. Countries with weak health systems, often poorer nations, will struggle the most without help to handle these challenges.

    WHO points out that greenhouse gas emissions from burning fossil fuels are major causes of climate change and air pollution, affecting everyone’s health. Meanwhile, India is taking action against climate change. Bhupender Yadav, India’s Union Minister for Environment, discussed India’s efforts to tackle land degradation and desertification during the UN climate conference in Riyadh, Saudi Arabia. He highlighted India’s commitment to restoring degraded lands and promoting sustainable development. Yadav talked about how, since the first global talks on land degradation, India has worked towards community-driven land restoration and made significant progress over the years

  • MobiKwik Shares Slide After Big Debut: Key Insights and Tips”

    MobiKwik Shares Slide After Big Debut: Key Insights and Tips”

    Shares of One MobiKwik Systems dropped by 5.7% on Friday, closing at Rs 510.30 on the BSE. This drop happened as investors took profits after the stock jumped 37% in just two days following its debut on Dalal Street. MobiKwik listed on the stock exchange on Wednesday at a price that was 58.5% higher than its initial price of Rs 279. The stock started at Rs 442.25 and had impressive gains, reaching a peak of Rs 605 before falling back down on Friday.

    The company’s initial public offering (IPO) was valued at Rs 572 crore and was oversubscribed by 119 times, showing strong interest from investors. People were excited about MobiKwik’s move towards profitability and the increasing popularity of digital payments. The money raised will be used to improve their financial services, boost AI and machine learning, and enhance their payment systems.

    Shivani Nyati, who is the Head of Wealth at Swastika Investmart, shared that MobiKwik’s ability to stay profitable and stand out in the competitive fintech market will determine if they can keep growing. She advised investors to consider taking profits now, but for those who want to stay invested, it’s smart to set a stop loss at around Rs 400.

    Founded back in 2008, MobiKwik serves over 161 million registered users and 4.26 million merchants as of June 2024. They offer a variety of services like digital payments, credit, and investment products. The company is the largest player in India’s PPI wallet sector, holding 23.11% of the market.

    Notable investors like Bajaj Finance, Abu Dhabi Investment Authority (ADIA), and American Express have stakes in the company, owning 13.44%, 2.8%, and 1.76% respectively.

  • Mazagon Dock Stock Surges: What You Need to Know!”

    Mazagon Dock Stock Surges: What You Need to Know!”

    Shares of Mazagon Dock Shipbuilders have bounced back after hitting a low around Rs 3,870. The stock then climbed over its previous high of Rs 4,900. In July, it reached a new peak at Rs 5,860 but then dropped about 51%, landing near that support level again. However, since November, Mazagon Dock’s stock is showing strong signs of recovery.

    Technical analyst Rajesh Bhosale from Angel One explains that the stock has been moving positively for two months. After falling from its top price of Rs 5,780 to around Rs 3,830, it has managed to stay above a key level that could indicate a return to rising prices.

    On the weekly chart, the stock is showing a pattern of “higher highs” and “higher lows,” suggesting that it might keep going up. Bhosale predicts a rally towards its previous high of Rs 5,780, with resistance around Rs 5,500. The recent low of Rs 4,740, which is close to the 20-day EMA, is an important support level to watch.

    Defense stocks have been recovering lately, and Mazagon Dock has shown a strong rebound after finding solid support near its 100-day EMA. The stock has just broken out of a tight range while staying well above its 20-day EMA, and it’s getting close to reaching its all-time high again.

    On the technical side, the stock is above its important moving averages, which shows positive momentum.

    Ajit Mishra, SVP of Research at Religare Broking, advises traders to position themselves wisely, suggesting they should buy on any dips, with a stop loss set at Rs 4,750. He sees potential targets of Rs 5,530 and Rs 5,800 for the stock.

    Disclaimer: The views expressed by the experts are their own and do not represent the views of Niftystat.

  • Biden’s Health Concerns: What His Aides Are Hiding

    Biden’s Health Concerns: What His Aides Are Hiding

    On June 27, President Joe Biden participated in a presidential debate, but many people were worried about how he performed. Some questions arose about his age, health, and ability to lead the country. A recent report indicates that White House staff have been trying to hide signs of Biden’s mental decline since he became president.

    Biden has held fewer large press conferences compared to other presidents, and he often makes mistakes while speaking. According to the report, his aides have been rearranging his schedule to help him manage his energy levels. After he was inaugurated during the COVID-19 pandemic, his team quickly started limiting his in-person meetings, especially when he seemed tired or confused. They found that the best time for meetings was earlier in the day because Biden had trouble focusing later.

    Biden relied on notecards and often made mistakes, like confusing the names of world leaders or forgetting important facts. One shocking detail is that he even forgot the year his son Beau passed away. To help with Biden’s speaking issues, the White House hired a voice coach to improve his faint voice. They also hid negative news about him to keep his spirits up since his approval ratings hit a record low in 2024.

    Additionally, there was concern that First Lady Jill Biden might outshine her husband. She was advised not to promote herself too much to avoid making Biden look bad. During his presidency, Jill Biden tried to make sure he didn’t spend too long answering questions at press conferences, fearing he might get caught off guard.

  • Google Cuts 10% of Managers to Boost Efficiency and Compete

    Google Cuts 10% of Managers to Boost Efficiency and Compete

    Google is making more changes to be more efficient and compete with other companies in the growing field of Artificial Intelligence (AI). CEO Sundar Pichai told employees in a meeting that 10% of managers, including directors and VPs, have lost their jobs. This means many people in leadership positions have had to say goodbye.

    This isn’t the first time Google has reduced its workforce. For the last two years, the company has been working to streamline its operations. The latest layoffs happened recently, with some managers being moved to other roles while others were let go completely.

    Pichai kicked off these changes back in 2022 when he shared plans to make Google 20% more efficient. Last year, over 12,000 employees were affected by earlier job cuts.

    During the latest meeting, Pichai talked about something called “Googleyness.” He wants employees to think about what it means to be part of Google. He said “Googleyness” had become too vague, so he simplified it. Now, it’s about important values like working towards a mission, being creative, and working well with others. He also mentioned the importance of creating helpful products and taking smart risks.

    Google’s restructuring is part of a bigger trend in the tech industry, as companies like Amazon are also trimming their management teams to enable individual workers to take more initiative

  • Falling Stock Prices: Is It a Good Time to Invest?”

    Falling Stock Prices: Is It a Good Time to Invest?”

    A while ago, a big company in the industry launched its initial public offering (IPO) for one of its smaller companies. Many people wanted to buy shares, so much that the offer was oversubscribed. When the stock started trading, it opened at a higher price than expected. Everyone wanted to buy the stock because this group was known for doing good business and making profits.

    However, today the situation is different. The stock price has dropped a lot due to a shaky and falling market. Now, people can buy it at a much lower price. Despite all the talk about big businesses and trustworthy leaders, the market can change quickly

  • Navy Boat Crash Near Mumbai: 14 Dead, Search for Missing Boy Ongoing

    Navy Boat Crash Near Mumbai: 14 Dead, Search for Missing Boy Ongoing

    A search operation is still going on to find a seven-year-old boy who went missing after a Navy boat crashed into a ferry off the coast of Mumbai. The accident happened two days ago, and officials say the number of deaths is now 14. A body of a 43-year-old man was found on Thursday.

    The Navy is investigating this tragic event, which is one of the worst accidents in the area. A helicopter and boats from the Navy and Coast Guard are searching for missing people. Out of 113 passengers on board the two boats, 14 people lost their lives, while 98 were rescued, including two who were hurt.

    The Navy boat had six people on it, and only two survived. The accident happened when the Navy boat lost control and hit the passenger ferry called “Neel Kamal.” This ferry was carrying more than 100 passengers and was on its way to Elephanta Island, a popular tourist spot known for its ancient caves.

    Documents from the Maharashtra Maritime Board showed that the ferry had permission to carry only 84 passengers and 6 crew members, meaning it was overloaded. Police have filed a case against the driver of the Navy boat. The charges are about causing death by negligence and unsafe navigation.

    The damaged Navy boat is with the Navy now, and the police will use it for the investigation when needed. The ruined passenger ferry has been moved to a wharf in south Mumbai called Bhaucha Dhakka.

  • Tragic Gas Tanker Accident: 7 Dead, 35 Injured on Jaipur-Ajmer Highway

    Tragic Gas Tanker Accident: 7 Dead, 35 Injured on Jaipur-Ajmer Highway

    A terrible accident happened on the Jaipur-Ajmer highway on Friday morning. A gas tanker collided with several vehicles, causing a huge fire that killed seven people and injured over 35 others. More than 30 vehicles caught fire, sending thick black smoke into the sky. Eyewitnesses saw the flames from nearly a kilometer away.

    Ambulances and fire trucks quickly rushed to the scene. One school van driver, who was picking up students, shared a shocking story of seeing a man on fire. Officials from Rajasthan’s health department confirmed the deaths and injuries. The police are concerned that some people may have been trapped in their vehicles and could not escape.

    Rajasthan Chief Minister Bhajanlal Sharma and Health Minister Gajendra Singh Khimsar visited the SMS Hospital, where the injured were taken. Sharma spoke to doctors, ensuring everyone received the best care possible. He also visited the accident site and chatted with police officers. In a message on social media, he expressed his sadness over the tragedy and promised swift medical help.

    Police officials, including Jaipur Commissioner Biju George Joseph, arrived at the highway to manage the situation. Minister Khimsar said many injured people are in critical condition, and all doctors were called in to help. They even opened an extra ward in the hospital for more patients. Some victims received first aid at nearby hospitals.

    An official report stated that a sleeper bus was behind the gas tanker during the crash. They are still trying to find out more about the passengers on board. Crews are working to clear the burnt vehicles off the highway to reopen it.

    Many leaders, including Chief Minister Sharma and former Chief Minister Ashok Gehlot, expressed their condolences. Police reported that it was tough to control the fire at first, and fire teams struggled to reach the scene. Luckily, three nearby petrol stations were not harmed.

    To assist victims’ families, a district administration team is at the hospital. For anyone needing information, Jaipur Police has set up helpline numbers: 9166347551, 8764688431, and 7300363636.