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India Ultra Rich: The number of ultra high net worth i.e. UHNWIs is increasing in India. UHNWI are people whose net worth is more than 30 million dollars i.e. about 250 crore rupees. According to a Knight Frank report, the number of ultra high net worth individuals in India will increase by 6.1 percent to 13 thousand 263 in 2023 compared to 12 thousand 495 in 2022. By the year 2028, their number is expected to increase by almost 50 percent to 19 thousand 908. India is the only country where the number of ultra high net worth people is going to increase by such a large number in the next five years. In 2024, the wealth of 90 percent of the rich can increase According to a Knight Frank report, 90 percent of UHNWIs expect their wealth to increase during 2024. About 63 percent are confident of increasing their net worth by more than 10 percent. According to experts, amidst economic slowdown, the Indian economy will grow faster due to falling inflation and expected reduction in interest

Mumbai: Global markets rallied today on the back of US stock markets as India's quarterly economic growth-GDP growth numbers rose to a surprising 8.4 percent, and US inflation numbers rose with positive news including accelerating industrial growth, discounting this factor and raising the possibility of a cut in interest rates. was done In the Indian stock markets, on the first day of March, local funds rallied aggressively in stocks, overpowering bearers. The bullish storm in Banking-Finance, Automobile, Capital Goods, Metal-Mining, Oil-Gas stocks took the Sensex to a new all-time high of 73819.21 and finally rose 1245.05 points to close at 73745.35. While the Nifty 50 spot made a new record high of 22353.30 and finally closed at a new historical high of 22338.75 by rising 355.95 points. Back stocks soared In banking-finance stocks today, the BSE Bankex index rose 1298.68 points to close at 53755.26 as funds bought aggressively in frontline stocks. IndusInd Bank rose by Rs.50.7

MUMBAI: As a result of sluggish growth in industry, service sector and personal loan disbursements, overall loan growth in the country's banking industry has been modestly low year-on-year in January this year. Withdrawals are also believed to have slowed due to the RBI's increase in risk weights in November last year. Loan growth in January was 16.20 percent which was seen at 16.70 percent in January last year. However, the number of loan growth in agriculture and allied sectors has been seen to be significantly higher. According to Reserve Bank data, loan growth in agriculture and allied sectors stood at 20.10 percent in January, as against 14.40 percent in January last year. Credit withdrawals by industries are seen to slow down. As against 8.70 percent in January 2023, this figure has decreased to 7.80 percent in January of the current year. Among industries, credit demand from the food processed and textile sectors has remained high, while credit withdrawals from the ba

Mumbai: The new month of March started with a big boom today in the Mumbai jewelery market. As the world market rose, the import cost at home increased, while the demand in the jewelery market increased today, but new sales slowed down. Meanwhile, as the government has increased the tariff value used as a benchmark for calculating the import duty of gold and silver imported into the country, the market experts were saying that the effective import duty of precious metals has also increased. The tariff value of gold has been increased from 639 per 10 grams to 654 dollars in dollar terms, while the tariff value of silver has been increased from 716 dollars to 724 dollars per kilo. Meanwhile, the gold prices in the world market today were directed to increase from 2029 to 2030 to a high of 2057 to 2058 to 2054 to 2055 dollars per ounce. Today, the price of gold per 10 grams is Rs. 600 to 99.50 to Rs. 64600 and 99.90 Rs. 64800 were spoken. Ahmedabad silver price per kg Rs. 71000 remained

Mumbai: The country's manufacturing sector activity was at a five-month high in February ended. The HSBC Purchasing Managers' Index (PMI) for the country's manufacturing sector stood at a five-month high of 56.90 as a result of the increase in orders. The highest number has been seen since September last year. The PMI of January of the current year was 56.50. According to the report prepared by S&P Global, there has been a decrease in inflationary pressure and an increase in the activity of the manufacturing sector due to demand from abroad. The PMI has remained above 50 for the 32nd consecutive month in February. An index above 50 is called an expansion of that sector. In the December quarter of the current financial year, the country's economic growth rate has come to 8.40 percent, much higher than expected. The GDP numbers are being seen strong due to the continuous improvement in the activity of the manufacturing sector. The share of manufacturing sector in I

- New acquisitions of domestic institutions and foreign investors - Sensex rose 1,245 points to close at 73,745 and Nifty jumped 356 points to a new high of 22,339. AHMEDABAD: Indian stock markets today witnessed a stormy rally on the back of other favorable reports, including reports of a surprise growth of 8.4 percent in the economic growth i.e. GDP figures for the December quarter. At the end of business, Sensex closed at a new record high of 73,745 and Nifty at 22,339. Behind the surge in the Sensex, investors' assets (BSE market cap) also rose by Rs. An increase of 4 lakh crores was seen. The GDP figures released yesterday showed an increase of 8.4 percent, completely against market expectations. On the other hand, today in the month of February, there is a significant improvement in the activities of the manufacturing sector. The PMI also rose to a 5-month high. There were reports of foreign investors shifting away from China to India following the headwinds in China, bes

Mumbai: The National Stock Exchange (NSE) and BSE-Bombay Stock Exchange will hold a special live trading session on Saturday, March 2, 2024. This special trading session is being held by the exchange to switch to its Disaster Recovery (DR) site intra-day. This Special Trading Session is being held to strengthen the Exchanges to enable them to continue their operations in the event of any untoward incident affecting the trading operations of the Exchange. This trading session will be held for 45 minutes from 9:15 AM in the second, first phase of March 2024 in Equity and Equity Derivatives segments. After that, in the second phase, a special live trading session will be held from 11:30 AM to 12:30 PM. In this special session, all futures contracts may fluctuate within an operating range of five percent. The upper and lower circular limit of securities in futures and options segment will be five percent. NSE has said that the current limit of two percent will remain at two percent fore

- In 2024, AI hype will continue unabated, driven by public excitement and anticipation - The Artificial Intelligence (AI) landscape globally and in India is on the verge of significant evolution. Broadly speaking, we are entering an era where the potential of AI will not only be recognized but also harnessed in a practical, measurable way, with a focus on the synergy between global trends and India's specific development path in the AI ​​domain. will be done. In 2024, AI hype will continue unabated, driven by public excitement and anticipation. However, this buzz will likely see a transition to more concrete, scalable implementations of AI technology. This shift from hype to practical applications is especially crucial for countries like India, where IT spending is projected to increase in the coming years. It is a reflection of a strategic, value-based approach to IT investments, signaling the widespread adoption of AI in a variety of sectors. The focus will be on AI technolog

Baba Ramdev's company Patanjali now seems to be venturing into the real estate business as Patanjali Ayurveda is in the fray to buy bankrupt Mumbai-based IT solution company Rolta India. Nine companies including Patanjali are in the fray to buy the Rs 413 crore debt-ridden company. Patanjali's competition is a Pune-based developer. Patanjali has placed an offer of 830 crores while the offer of the Pune company is 760 crores. It is said that Patanjali has an eye on the company's lands. India's own container shipping line Increasing piracy in the night sea has become a matter of concern. India's exports may suffer in the long run. The cost of insurance on shipping has increased due to the fear of piracy. Under these circumstances, if India's own container shipping line is prepared, sales can also be kept on it and pirates can also be avoided. When any maritime transport crisis arises, it should be considered that India's export business will not be affected

- Many pulse producing countries were seen increasing production based on India's demand: Consumption of pulses increased after Corona period The demand of various pulses and pulses in the country and abroad has been seen increasing in recent years. According to the sources of the pulses market, especially after the Corona period, people have become more serious about their health and due to this, the consumption of pulses has also increased. According to the Director General of Foreign Trade, the demand for various pulses has been seen increasing in India and such demand growth is likely to continue in the coming years. The economy of India is developing rapidly and the size of the economy is expected to reach the level of five trillion dollars and sources were showing the possibility of a significant increase in the demand for pulses in the market as the purchasing power of the people increases. While the production of various pulses has increased in India, the import of variou

- The picture is not yet clear on how many jobs will be lost in the country Microsoft CEO Satya Nadella in a recent statement talked about providing training to two million Indians in the use of Artificial Intelligence (AI). From his statement, he seems to see a huge opportunity in the field of AI in India. By the time India reaches the level of Gross Domestic Products (GDP) of five trillion dollars, he has also predicted that the contribution of AI in GDP will be seen as close to ten percent. Keeping this fact in mind, Indian companies cannot remain inactive on this issue. Apart from India's expertise in software, it is also providing some other advantages like testing and training center for AI. Another aspect that supports the development of technology like AI in India is the variety of languages ​​spoken in India. With the expansion of smartphones, India also has the highest data usage in the world. It is with this fact in mind that Satya Nadella seems to be seeing a promisi

- Boolean Bits - Dinesh Parekh - In the global market, gold headed lower, indicating increased purchases by central banks of various countries: firm inflows in silver. Goldman Sachs states the truth in Vs Schwabjar. Gold will determine its direction after the announcement of when and how much the Fed will cut interest rates at the FOMC meeting in the United States. If gold breaks the price of 2063 dollars per ounce, there will be a big boom in gold and if it breaks 1955 dollars per ounce, then there is room for recession in gold. Stuart O'Reilly, a strategist at the Royal Mint in London, says that demand for gold bars and coins has increased as inflation has increased, and people's demand for safety of their money has jumped by 26 percent and purchases of gold have increased. Force the Bank of England to lower interest rates and make interest rates more favorable for gold. It is also possible that the price of gold in America will show the price of 2150 dollars per ounce du

- Low government spending weakens economic growth in the short run In the interim budget presented earlier this month, the government laid renewed emphasis on controlling the fiscal deficit and limiting external borrowing. The fiscal deficit is targeted to be limited to 5.1 percent of gross domestic product (GDP) in FY25, representing a consolidation of 71 basis points over the actual 24 (revised estimate). The tax-GDP ratio also increased from 10.1 percent in FY24 to 11.7 percent in FY25 (budget estimate). Tax revenue generation has also improved. This controlled increase in revenue expenditure, combined with the stimulus provided to capital expenditure, indicates that a large proportion of debt is now directed towards financing capital expenditure. It is noteworthy that the decline in capital allocation and revenue expenditure ratio indicates that the government is trying to improve the quality of expenditure while at the same time it wants to stay on the path of fiscal consolidati

- Antenna-Vivek Mehta - To get appointed as a notary, one has to pass the exam with 50% marks: The rates for notary will be fixed, fees will not be charged as per mind. New amendments are also coming in the Notary Act. So the situation is changing radically. Only a lawyer who has practiced as a lawyer for at least ten years and has fought at least a hundred cases will be appointed as a notary. Yes, a woman lawyer must have practiced as a lawyer for at least seven years. Only then he will be allowed to practice as a notary. These amendments are being made in the new Notary Act to curb the malpractice being done by notaries including charging high fees. On the other hand, a system is also being introduced for every lawyer to pass an examination before being appointed as a notary. A minimum of 50 marks is being made mandatory to pass the exam to become a notary. Thus 50 marks out of 100 will be considered as passing marks. A person who scores less than that will not even get a chance

A report of the Parliamentary Committee on Textiles said that to increase the production of wool in the country, there is a need for good quality cotton seeds and plants that can adapt to the soil and weather conditions and increase the sowing of wool. In 2022-23, Rs was planted on 13061 lakh hectares in the country which was the highest in the world but the production per hectare was 447 kg. Gr. As it was. Production per hectare in America is 1065 kg. Gr. According to the data of the Ministry of Textiles. In addition to Bt+ and other seeds of Awaj type, the country also needs other species of cotton seeds/plants which are suitable to the soil and weather conditions, the committee said in the report. India's per hectare production of rupee is very low as compared to other major producing countries of rupee. The reason behind the low production is that the Bt seed technology in the country is outdated and there is an urgent need for a new breed of seeds, the report added. A com

A total turnover of Rs 4,56,579.12 crore was recorded in 62,87,976 trades in various commodity futures, options and index futures on the country's leading commodity derivatives exchange during the week of February 16 to 22, with commodity futures accounting for Rs 73 crore. ,303.52 crores and option share of Rs. 399894.19 crores. In precious metals futures, 7,43,841 deals worth Rs.45,019.37 crore were transacted in gold and silver. In gold futures, MCX gold April futures opened at Rs.61,651 per 10 grams at the beginning of the week, touched an intra-day high of Rs.62,308 and a low of Rs.61,451 during the week, ended the week by Rs.355 and increased by Rs.61. It reached the price of 977. Against this, Gold-Guinea February contract fell by Rs.125 per gram to Rs.49,577 and Gold-Petal February contract by Rs.14 per gram fell to Rs.6,057. Gold-mini March futures increased by Rs.355 per 10 gram to reach the level of Rs.61,661. In silver futures, silver March futures opened at Rs.71,27

India is flying its flag across the world with the world's largest population, largest consumer base, largest workforce, fastest growing population. Many multinational companies from many countries are joining this development saga of India. Many MNC companies have invested heavily and expanded their business years ago, banking on India's growth. However, the valuation of units of multinational companies operating in India has now exceeded that of their original parent company. Not only are the Indian markets overvalued compared to their global peers but the shares of subsidiaries of listed MNCs in India are also trading at expensive valuations compared to their parent companies. An analysis of the trailing 12-month price-to-earnings and price-to-book multiples of listed MNCs in the country shows that most are trading at a premium of between 2.1t and 6t. Similarly in the domestic market the price to book is very high in most cases. Analysts said this trend could encourage ot

- Significance and implementation of Kami Jasti Prataka (KJP). - Orientation guidance - H.S. Patel IAS (Retd.) - It is necessary to promulgate the revenue record after completion of TP It is natural and expected that there is lack of knowledge among the general public and farmers as KJP (Kami Jasti Patrak) is a terminology of revenue administration. But the importance and implementation of KJP is very important. Revenue officials also neglect this work. In the Revenue Accounts Manual (RAM) KJP is important for two reasons. One is the change in land revenue from the tenure holder and second is the change in the area of ​​the land.These two things are important in land revenue administration. It is important that when the Master Development Plan, TP (Town Planning) in the Town Planning Act contains a survey number (Op-Occupational Plot) in its area, the final plot (FP) changes the area. The procedure for making changes under both the Acts is known as KJP and is the primary responsib

- GDP of world's two largest economies negative for two consecutive quarters: Geopolitics shocks global economy Last week, the world's two largest economies, Japan and the United Kingdom, said their gross domestic product (GDP) growth had been negative for two consecutive quarters. Economists generally consider this a sign that the economy is headed for recession. Because of this, Japan may slide down the list of largest economies. Germany's GDP may exceed Japan's. In such a scenario, Japan may now become the fourth largest economy in the world instead of the third. Not that Germany is in very good shape either. Germany, once the engine of growth for the euro zone, is now its weakest link. For two decades, Germany's export-oriented, manufacturing-based economy performed well, supported by China's productivity and demand and easy access to cheap natural gas from Russia. Now both these factors of growth have become limited due to geopolitical reasons. In 2024

- Smile Index-Economist - It is not known whether the inflation has decreased or increased from the fact that the experts of the Credit Committee of the Reserve Bank are talking in circles. The disciple prostrated himself and said: Guruji, a cause for concern has arisen. Guru: I understood that because you came to me. Just as the reds of the original era did not fall without benefit, you also do not fall at my feet without needing to solve any of your worries. Disciple: Guruji, stop teasing me like mother-in-laws in old Hindi movies. Here people like us are dying due to inflation worries. Jupiter: Worried about inflation? Disciple, this has given you a new life. You are comparing me to the mother-in-law of old Hindi films but I know the principle of modern age that inflation is not a concern. Disciple: Guruji, don't talk in circles like those Reserve Bank Credit Committee members. Those experts don't know whether inflation has actually decreased or increased. Guru: Vats