In spite of Mukesh Ambani, Gautam Adani, the Poonawallas and many other Indians seeing a jump in their net worth in the pandemic-hit 2020, overall wealth of the country's super-rich dipped 4.4 per cent to USD 12.83 trillion in the year due to the rupee's fall, and so did their tally, says a report. The number of dollar millionaires in India fell from 7, 64, 000 in 2019 to 6, 98, 000 solely because of the rupee's fall, while their cumulative wealth stood at USD 12. 833 trillion, down USD 594 bill

New Delhi: India’s retail investors piled into Adani Group companies as their shares cratered in the wake of the Hindenburg Research’s scathing report last January.... Billions of US dollars in investments from marquee funds including GQG Partners LLC, and more recently, an observation from India’s top court that it won’t take media reports on Adani as the “ gospel truth ”, has renewed investor confidence in the group’s stocks.... “ But when you are buying momentum stocks, you should book prof

Domestic covered bond issuances have witnessed a sharp increase to about Rs 2, 220 crore in FY2021 as against the issuances of Rs 400 crore seen in the preceding fiscal, said a report by ICRA Ratings. These bonds have been issued so far by non-banking financial corporations( NBFCs), nine in FY2021 compared to two in FY2020." The covered bonds have seen improved acceptance in the Indian market mainly in H2 FY2021 as it provides a' dual recourse' benefit to the investor, i.e. the repayment obligat

More Indians renounced their citizenship and took citizenship in other countries in 2022 than ever before, according to data.... The question was asked by Congress Members of Parliament Kodikunnil Suresh and M K Raghavan, and All India Majlis-e-Ittehadul Muslimeen chief Asaduddin Owaisi.... The minister emphasised that while surrendering Indian citizenship was a matter of choice, “ a successful, prosperous, and influential diaspora is an asset for India....

Markets regulator Sebi on Thursday came out with detailed modalities for implementation of the accredited investors framework, a move expected to open up a new channel of raising funds from sophisticated investors. The regulator has issued guidelines on eligibility criteria for accredited investors( AIs), procedure as well as validation for accreditation, procedure to avail benefits linked to accreditation and flexibility to investors to withdraw" consent", according to a circular. Sebi had earl