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Kotak Mahindra Bank has been under scrutiny lately, facing one setback after another. Towards the end of April, the Reserve Bank of India (RBI) asked the lender to stop onboarding new customers through its online and mobile banking channels, and also barred it from issuing fresh credit cards. This action stemmed from the RBI’s scrutiny … Read more
Gifted money does not impact your CIBIL score in a direct way. But it can, and does, affect the score positively in the following scenarios: you invest the gifted money into a scheme and improve your financial situation, use the gift received in cash to retire a debt, or use the same to give the … Read more
“AI itself is at an early stage right now, so more sophisticated and efficient use cases of AI will mature over time. But, India is playing a vital role in the development of AI around the world, and development of Indian AI platforms will be key to the growth of this market,” Chandok said. The … Read more
Samir Arora, the founder and fund manager of Helios Capital, expects the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) to secure a comfortable majority, and present a market-friendly budget focused on economic reforms in its next term. “So, we continue to be bullish,” he said in an interview. However, in the event of any … Read more
In last 12 months large-cap category has witnessed outflow of Rs. 615 crore whereas mid-cap category has witnessed inflow of Rs. 22,250 crore. Interestingly, large & mid-cap category together witnessed an inflow of Rs. 22,450 crore. This data highlights that there are a lot of investors who prefer the combination of largecaps and midcaps over … Read more
The Humane AI Pin, a voice-controlled personal assistant, was one of Silicon Valley’s most-hyped AI-first products. However, the hype has crashed rather fast. Barring Amazon’s Alexa and Apple’s Siri, voice interfaces have been tech’s biggest failures. Mint asks why: Why the hype around Humane AI Pin? The AI Pin, launched by Silicon Valley startup Humane, … Read more
Belstar Microfinance Ltd, the microfinance subsidiary of Muthoot Finance, submitted draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (Sebi) to raise ₹1,300 crore through an initial public offering (IPO). According to the draft red herring prospectus (DRHP), the initial public offering (IPO) of the Chennai-based company comprises a ₹1,000 crore … Read more
My taxable income is below the ₹5 lakh tax rebate limit. If I earn ₹4 lakh in long-term capital gains (LTCG) and have no income from any other source for the relevant financial, how will the gains be taxable? —Name withheld on request As per the provisions of Income-tax Act, capital gains arising from transfer … Read more
Housing finance company Aadhar Housing Finance initial public offerings (IPO) will open for subscription on May 8 and will close on May 10. The mainboard segment IPO has set at ₹300 to ₹315 per share. Ahead of the issue, Aadhar Housing Finance IPO is commanding a premium of ₹51 per share in the grey market … Read more
Finance Minister Nirmala Sitharaman has refuted media reports that said the new government will bring some sweeping changes in the income tax system after the Lok Sabha election results. The finance minister took to social media platform ‘X’ and said, ‘’Wonder where this is come from. Was not even double checked with Finance Ministry. Pure … Read more