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If you had invested ₹1,00,000 on this&nbsp;IPO in October 2019, your shares would now be worth around ₹8,50,000
Yes, the share price of IRCTC&nbsp;has&nbsp;breached the psychological&nbsp;₹5000 levels and climbed new lifetime peak of&nbsp;₹5,398&nbsp;on Thursday
IRCTC&nbsp;shares were listed on the bourses on 14 October 2019. The stock debuted at Rs 644, a premium of 101.25% to the initial public offer (IPO) price of Rs 320. Since then the stock has soared 610% from its IPO price.
However, stock market experts are still bullish on the Indian Railways' PSU stock and expected it to hit&nbsp;₹5800 levels in immediate short-term.
Even Twitter is so excited about IRCTC&rsquo;s uphill growth that it has not turned into a meme fest, check these out&nbsp;&nbsp;
&nbsp;

Firecracker stock story! This bet gave investors 1500% return

Railways never seemed to lucratives, how IRCTC became the darling of Dalal Street. 

The company&rsquo;s shares have grown a whopping 610% since its listing exactly two years ago

If you had invested Rs 1,00,000 on this&nbsp;IPO in October 2019, your shares would now be worth nearly Rs 15,00,000. IRCTC&nbsp;has taken shareholders on vertical one-way journey from Rs 320/share to zooming past the 5000 mark&nbsp; IRCTC: The&nbsp;bullet train returns IRCTC&nbsp;shares were listed on the bourses on 14 October 2019 and were offered to the public for Rs 320/share.&nbsp;The Rs 645-crore initial public offer (IPO) by state-run IRCTC was overall subscribed 111.92 time so it was no surprise that it listed with a 100% gain. And from there it has been a fairytale journey for investors who got on the platform early. In the just last 3 months the stock is up over 140% since the company announced plans of a stock split.&nbsp; The big bet on the monopoly IRCTC is the only entity authorised by the&nbsp;Indian Railways&nbsp;to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India Missed the rally? Well enjoy the memes
Brokerages feel there is steam still left in the stock, however the meteoric moves has inspired a meme&nbsp;fest on social media platforms keeping those who missed out entertained.&nbsp;
&nbsp;

Petrol and diesel prices on Friday rallied to their highest ever levels across the country, as fuel rates were hiked again by 35 paise a litre
This is the 14th time that petrol price has been hiked in two weeks, while diesel rates have gone up on 17 times in three weeks.
Both petrol and diesel prices raised by 35 paise in Delhi to Rs 105.14 and Rs 93.87 respectively. In Mumbai, diesel prices jumped to Rs 101.78 from Rs 101.40 while petrol prices hiked by 34 paise to Rs 111.09 in the financial capital of India.
This is the second straight day of 35 paise per litre increase in petrol and diesel prices.
Petrol and diesel prices in major Indian cities:
Petrol Delhi: ₹105.14/LMumbai: ₹111.09/LChennai: ₹102.40/LKolkata: ₹105.76/L
DieselDelhi: ₹93.87 ₹/LMumbai: ₹101.78/LChennai: ₹98.26/LKolkata: ₹96.98/L

14th increase in last 20 days: Petrol, diesel prices hiked again!

Petrol and diesel prices were hiked again across the country on Friday

Petrol prices increased by ₹0.35 paise to ₹105.14 per litre in the national capital

Petrol prices increased by&nbsp;₹0.35 paise to&nbsp;₹105.14 per litre in the national capital while the price of diesel was raised by the same amount to&nbsp;₹93.87 per litre

Petrol and diesel prices on Friday rallied to their highest ever levels across the country, as fuel rates were hiked again by 35 paise a litre
Petrol has been hiked 14 times in the last 20 days while diesel prices have been hiked 17 times
Both petrol and diesel prices have been raised by 35 paise in Delhi and now stands at Rs 105.14 and Rs 93.87 respectively. In Mumbai, diesel prices jumped to Rs 101.78 from Rs 101.40 while petrol prices hiked by 34 paise to Rs 111.09 in the financial capital of India.
This is the second straight day of 35 paise per litre increase in petrol and diesel prices.
Petrol and diesel prices in major Indian cities:
Petrol Delhi: ₹105.14/L Mumbai: ₹111.09/L Chennai: ₹102.40/L Kolkata: ₹105.76/L
Diesel Delhi: ₹93.87 ₹/L Mumbai: ₹101.78/L Chennai: ₹98.26/L Kolkata: ₹96.98/L

Mukesh&nbsp;Ambani&nbsp;is dressing up Reliance's acquisition&nbsp;portfolio&nbsp;this festive season.&nbsp;Reliance Brands Limited (RBL) will acquire a 40 per cent stake in Manish Malhotra's&nbsp;deign brand&nbsp;in MM Styles Pvt. Ltd.&nbsp;This is the most prominent buy by the&nbsp;Reliance Brands in the luxury ethnic wear market though the company did not disclose the deal size. Mukesh&nbsp;Ambani's Reliance already has&nbsp;Satya Paul&nbsp; part of its portfolio and also has invested in Indian menswear designer Raghavendra Rathore&rsquo;s eponymous label.For the popular designer&nbsp;Manish Malhotra, this is the first&nbsp;external investment for &nbsp;brand, which has been privately held by the creator&nbsp;himself.&nbsp;
The brand will continue to be led by Malhotra as the managing and creative director.&nbsp;Malhotra, a self-taught designer, found his calling designing costumes for blockbuster Bollywood films.


Reliance brands to acquire 40% stake in Manish Malhotra's designer label

Mukesh Ambani is dressing up Reliance's acquisition portfolio this festive season with Manish Malhotra's brand investment

Reliance acquires stake in Manish Malhotra's brand

Currently, Malhotra runs four flagship stores in the country, apart from two shop-in-shops.

Mukesh&nbsp;Ambani&nbsp;is dressing up Reliance's acquisition&nbsp;portfolio&nbsp;this festive season.&nbsp;Reliance Brands Limited (RBL) will acquire a 40 per cent stake in Manish Malhotra's&nbsp;deign brand&nbsp;in MM Styles Pvt. Ltd.&nbsp; This is the first external investment by Manish&nbsp;Malhotra&nbsp;who has been designing for bollywood&nbsp;for over 3 decades.&nbsp;From designing looks for actors including Sridevi,&nbsp;Kajol, Raveena Tandon, Aishwarya Rai Bachchan to the generation of Kareena Kapoor Khan,&nbsp;Alia Bhatt, Janhvi Kapoor, and many others, Manish has been telling stories through all his creations for years.&nbsp; This is the most prominent buy by the&nbsp;Reliance Brands in the luxury ethnic wear market though the company did not disclose the deal size. Mukesh&nbsp;Ambani's Reliance already has&nbsp;Satya Paul&nbsp; part of its portfolio and also has invested in Indian menswear designer Raghavendra Rathore&rsquo;s eponymous label.

Reliance Industries has invested in German &ldquo;green solar wafers&rdquo; technology company NexWafe&nbsp;and signed a pact with Danish company Stiesdal&nbsp;as part of the conglomerate's aggressive&nbsp;strategy to expand its clean energy portfolio.&nbsp;Our investment in NexWafe signals an important step towards accelerating India&rsquo;s green energy transition and positioning India as a global leader in photovoltaic manufacturing,&rdquo; RIL chairman Mukesh Ambani said in a statement.With these investments, Reliance New Energy Solar Ltd has made 4 new investments in just the last 4 days.&nbsp;The announcements are in line with India's richest man's ambitious plans of investing Rs 75,000 crore over the next three years to build a new clean energy business to fuel the conglomerate&rsquo;s commitment to be net carbon neutral by 2035.

Mukesh Ambani's green shopping bag has two new investments ... again

Mirror, Mirror on the wall who is the greenest of them all? Reliance surges ahead to win the green race with two investments in 24 hours. 

Mukesh Ambani's green bet just got greener! 

Mukesh Ambani plans on investing Rs 75,000 crore over the next three years to build a new clean energy business to fuel the conglomerate&rsquo;s commitment to be net carbon neutral by 2035.
&nbsp;

Reliance Industries has invested in German &ldquo;green solar wafers&rdquo; technology company NexWafe&nbsp;and signed a pact with Danish company Stiesdal&nbsp;as part of the conglomerate's aggressive&nbsp;strategy to expand its clean energy portfolio.&nbsp; Our investment in NexWafe signals an important step towards accelerating India&rsquo;s green energy transition and positioning India as a global leader in photovoltaic manufacturing,&rdquo; RIL chairman Mukesh Ambani said in a statement. With these investments, Reliance New Energy Solar Ltd has made 4 new investments in just the last 4 days.&nbsp;The announcements are in line with India's richest man's ambitious plans of investing Rs 75,000 crore over the next three years to build a new clean energy business to fuel the conglomerate&rsquo;s commitment to be net carbon neutral by 2035.

It is a big billion dollar boys club and RIL&nbsp;chief Mukesh&nbsp;Ambani&nbsp;is now part of the clique! Gaining nearly $24 billion to this wealth kitty in this year alone Ambani&nbsp;is now worth over $100,000,000,000.&nbsp;The $100 billion club has only 11 exclusive members ranging from tech giants&nbsp;Elon&nbsp;Musk, Jeff Bezos&nbsp;to legendary investor Warren Buffet. In fact, there are only two non-US billionaires&nbsp;in the list Mukesh&nbsp;Ambani&nbsp;(11) and France's richest person&nbsp;Bernard Arnault, Chairman of LVMH,&nbsp;the world's largest maker of luxury goods.Ranked at number 11 on the overall Bloomberg&nbsp;Billionaire Index Mukesh&nbsp;Ambani is just one rank and $3 billion behind the 'Oracle of Omaha' Buffet.&nbsp;The meteoric rise in Ambani's wealth is not something the Reliance Chairman is enjoying alone. With the stock gaining over 45% this year (which is his largest asset), shareholders on Dalal&nbsp;Street have seen portfolio returns swell as the scrip trades near record highs.&nbsp;

Mukesh Ambani now worth over 100 billion dollars! Just one rank below Warren Buffet in rich list

Mukesh Ambani, joins the world’s most exclusive wealth club with a fortune of at least $100 billion, just a rank behind Warren Buffett. 



Mukesh Ambani in the 100 billion dollar boys club

Mukesh Ambani's&nbsp;wealth has more than doubled in the last 3 years.&nbsp;

It is a big billion dollar boys club and RIL&nbsp;chief Mukesh&nbsp;Ambani&nbsp;is now part of the clique! Gaining nearly $24 billion to this wealth kitty in this year alone Ambani&nbsp;is now worth over $100,000,000,000.&nbsp; The $100 billion club has only 11 exclusive members ranging from tech giants&nbsp;Elon&nbsp;Musk, Jeff Bezos&nbsp;to legendary investor Warren Buffet. In fact, there are only two non-US billionaires&nbsp;in the list Mukesh&nbsp;Ambani&nbsp;(11) and France's richest person&nbsp;Bernard Arnault, Chairman of LVMH,&nbsp;the world's largest maker of luxury goods.
Also watch:&nbsp;<a title="Byju&rsquo;s pulls ads featuring Shah Rukh Khan amid Aryan Khan's drug case" href="https://www.editorji.com/business-news/byju-s-pulls-ads-featuring-shah-rukh-khan-amid-aryan-khan-s-drug-case-1633758681434">Byju&rsquo;s pulls ads featuring Shah Rukh Khan amid Aryan Khan's drug case</a> Ranked at number 11 on the overall Bloomberg&nbsp;Billionaire Index Mukesh&nbsp;Ambani is just one rank and $3 billion behind the 'Oracle of Omaha' Buffet.&nbsp; The meteoric rise in Ambani's wealth is not something the Reliance Chairman is enjoying alone. With the stock gaining over 45% this year (which is his largest asset), shareholders on Dalal&nbsp;Street have seen portfolio returns swell as the scrip trades near record highs.&nbsp;

Manish Malhotra is releasing five exclusive non-fungible tokens (NFTs) on the WazirX NFT Marketplace in partnership with FDCI X Lakmé Fashion Week.

Lakme Fashion Week: Manish Malhotra becomes India’s 1st fashion designer to drop NFTs

Sold out in seconds! Manish Malhotra becomes India's 1st designer to drop NFTs

Sold out in seconds!&nbsp;Manish Malhotra&nbsp;becomes India's 1st fashion designer to drop&nbsp;NFTs

Manish&nbsp;Malhotra&nbsp;is releasing five exclusive non-fungible tokens (NFTs) on the&nbsp;WazirX&nbsp;NFT Marketplace in partnership with FDCI X&nbsp;Lakmé&nbsp;Fashion Week.

Fresh on the heels of Italian luxury brand&nbsp;Dolce &amp; Gabbana&nbsp;setting&nbsp;a record for selling&nbsp;it's premier NFT drop for $6 million,&nbsp;our&nbsp;very own <a href="https://www.editorji.com/entertainment-news/star-studded-inside-manish-malhotra-s-star-studded-house-party-1613887784645">Manish Malhotra</a>&nbsp;has&nbsp;become the first&nbsp;from India&nbsp;to ride the&nbsp;NFT&nbsp;fashion&nbsp;wave.&nbsp;
The designer released five exclusive non-fungible tokens (NFTs) on the first day of FDCI X&nbsp;Lakmé&nbsp;Fashion Week. The NFTs&nbsp;sold out within seconds of launching on the&nbsp;WazirX&nbsp;NFT Marketplace.&nbsp;
SEE MORE&nbsp;<a href="https://www.editorji.com/in-depth/explained-wearable-nfts-anyone-fashion-marketplaces-selling-looks-for-the-metaverse-1631080621814">Explained | Wearable NFTs anyone? Fashion marketplaces selling looks for the Metaverse</a>
Speaking during a live stream&nbsp;at the&nbsp;phygital&nbsp;edition&nbsp;of the fashion week, Malhotra&nbsp;said he looks at NFTs as a&nbsp;whole new&nbsp;industry&nbsp;for the exchange of art and culture which is creating new opportunities for all creatives.
As for his first NFT drop, the celebrity designer said the capsule depicts his journey&nbsp;in the fashion industry, including a 1998 image of supermodel Lisa Ray wearing his creation.
Known as a stylist to the stars, Malhotra&rsquo;s eponymous label&nbsp;also boasts of&nbsp;having opened&nbsp;India&rsquo;s&nbsp;first and only&nbsp;virtual reality&nbsp;couture store&nbsp;last year.
Discussing the future of NFTs in India, LFW&rsquo;s Jaspreet Chandok said the fashion body also plans to&nbsp;work with local artisans&nbsp;to create special NFTs that&nbsp;will&nbsp;talk about&nbsp;Indian&nbsp;crafts and use this technology to&nbsp;promote dialogue about the same.
SEE MORE&nbsp;<a href="https://www.editorji.com/lifestyle-news/designer-manish-malhotra-launches-india-s-1st-virtual-couture-store-1610694629709">Designer Manish Malhotra launches 'India's 1st virtual couture store'</a>

A Kerala-based pickle start-up is making headlines not just for its innovative take on pickles but also for being the first such brand in the state to accept payments in

Now, you can pay for your pickles with cryptocurrency

Kerala-based start-up is offering healthy fusion pickles made by women in Kochi but there's a catch!

Kerala-based start-up is offering healthy fusion pickles made by women in Kochi&nbsp;but there's a catch!&nbsp;

A Kerala-based pickle start-up&nbsp;is making headlines not just for its innovative take on pickles but&nbsp;also&nbsp;for being the first such brand in the state to accept payments in cryptocurrency.&nbsp;&nbsp;
Athey&nbsp;Nallatha&nbsp;retails fusion pickles such as&nbsp;papaya-prawn, beetroot-chicken or sour mango-fish, among others, made by&nbsp;women in Kochi and nearby suburbs.&nbsp;&nbsp;
Founded&nbsp;in June 2020&nbsp;by two&nbsp;management graduates, Athey&nbsp;Nallatha&nbsp;uses the&nbsp;CoinBase&nbsp;payment&nbsp;platform&nbsp;and has already&nbsp;cleared over 30 such&nbsp;crypto&nbsp;transactions since launching the initiative on August 28, 2021.&nbsp;
SEE MORE&nbsp;<a href="https://www.editorji.com/business-news/cryptocurrency/crypto-corner-sbi-halts-upi-to-crypto-waxirz-feels-the-pain-1631876990338">Crypto Corner: SBI halts UPI to crypto, WaxirZ feels the pain</a>
Speaking to The Hindu, the founders explained that transaction times can vary for each coin and payments usually come through in 10-15 minutes.

Crypto Corner: List of the top five affordable and probably promising cryptos based on market cap.

Crypto Corner: Missed Bitcoin, no worries here are 5 affordable cryptos you can invest in

Missed the 63,000% rally in Bitcoin&nbsp;and now it's unaffordable! Worry not #EJBiz&nbsp;brings you a list of 5 affordable crypto bets that you can still ride the crypto&nbsp;rally with. Don't miss these multi-baggers.&nbsp;

5 affordable crypto currency bets

Bitcoin in the last decade soared from being $1 to $63,000 as cryptocurrency&nbsp;gained global acceptance.

The next big thing, the multi-bagger from equity to cryptos&nbsp;that's always the holy grail the investors are looking for. The meteoric rise over the last 10 years for Bitcoin&nbsp;from under $1 to the highs of $63,000 per token has left investors not only dizzy and also with a lot of FOMO&nbsp;with those who missed the bus.&nbsp; The Bitcoin&nbsp;rally also sent a clear message not to underestimate a 'affordable' or 'cheap' digital asset. So at nearly $50,000 if <a href="https://www.editorji.com/story/bitcoin-bounces-back-with-dogecoin-ethereum-as-elon-musk-jack-dorsey-come-to-the-rescue-1626921065308" target="_blank">Bitcoin&nbsp;</a>if unaffordable how do you make the most the new investment bet in the financial world.&nbsp; #EJBiz has curated a list of the top five affordable and probably promising&nbsp;cryptos&nbsp;based on their market cap. Take a look:
 1. Cardano:&nbsp;The digital token has gathered a lot of attention of late as it recently became the third-largest cryptocurrency. While writing, the cryptocurrency&nbsp;was trading at a price of a burger, $2.5. The price has rallied almost 1,400% this year.
Why you must consider&nbsp;Cardano?&nbsp;The crypto is a&nbsp;proof-of-stake&nbsp;blockchain project that aims to allow changemakers, innovators and visionaries to bring about positive global change. A proof-of-stake system functions as a cryptographic proof of ownership and proof of vested interest in the project&rsquo;s ongoing success.&nbsp;Ethereum&nbsp;is a high-profile example of a project that is currently in the process of migrating&nbsp;towards proof-of-stake blockchain.&nbsp;Cardano is one of the biggest blockchains to successfully use a proof-of-stake consensus mechanism, which is less energy-intensive than the proof-of-work algorithm relied upon by Bitcoin.
Also Read:&nbsp;<a href="https://www.editorji.com/story/cryptocurrency-explained-bitcoin-to-blockchain-10-words-you-need-to-know-1623841223834" target="_blank">Cryptocurrency Explained: Bitcoin to blockchain, 10 words you need to know</a>
2. Polygon:&nbsp;Developed by Indian origin Sandeep&nbsp;Nailwal, Polygon which was earlier named MATIC&nbsp;gained a lot of popularity when its founder came in limelight as he launched a crypto&nbsp;relief fund to support India's reeling condition during the second wave of Covid-19. The crypto coin is valued at a price of $1.5. The price skyrocketed from a mere $0.03 at the beginning of the year to touch a record $2.4.
Polygon is&nbsp;Ethereum's&nbsp;internet of blockchains that focuses on resolving problems around the usage of the Ethereum which is seeing a staggering demand due to its&nbsp;decentralized finance technology.
3. VeChain:&nbsp;VeChain or VET is priced at $0.12, up from $0.01 in January this year.&nbsp;VeChain aims to use distributed governance and Internet of Things (IoT) technology to create an ecosystem that solves some of the major problems with supply chain management.&nbsp;The idea is to boost the efficiency, traceability and transparency of supply chains while reducing costs and placing more control in the hands of individual users.
4. Tron:&nbsp;The crypto project is aiming to build a platform&nbsp;where content creators can connect with their audiences directly. From $0.02, its coin TRX&nbsp;jumped to as much as $0.16 this year. Tron's&nbsp;crypto project could make content less expensive and will give a boost to the content creation economy as its platform eliminates the need for a centralised body that charges huge&nbsp;commissions.&nbsp;Given how the entertainment sector is increasingly becoming digitized, TRON could have a headstart in applying blockchain technology to this industry.
5. Tether:&nbsp;You must have heard big investors hedging their risks. Well, Tether does the same in the crypto markets.&nbsp;USDT&nbsp;or Tether is a stable coin that mirrors the price of the U.S. dollar.&nbsp;The token&rsquo;s peg to the USD is achieved via maintaining a sum of commercial paper, fiduciary deposits, cash, reserve repo notes, and treasury bills in reserves that is equal in USD value to the number of USDT in circulation. Tether is a second-layer <a href="https://www.editorji.com/story/crypto-corner-bitcoin-reclaims-50-000-first-time-in-3-months-1629689209014" target="_blank">cryptocurrency </a>token built on top of Bitcoin&rsquo;s blockchain. While the crypto market is highly volatile where we can see a move of 10-20% in a day, USDT is a safe haven as it is protected from these fluctuations. The price of USDT has always been around $1.
Also Read:&nbsp;<a href="https://www.editorji.com/story/crypto-bulls-are-back-ethereum-outperforms-bitcoin-know-more-about-the-big-crypto-comeback-1628484182703" target="_blank">Crypto bulls are back: Ethereum outperforms Bitcoin, know more about the big crypto comeback</a>

There is a new tax in town, the Global Minimum Tax. The finance ministers of the world's richest countries have recently agreed to back a tax overhaul that aims to take away corporations from hiding away in tax-friendly countries. Here is all you need to know about the tax overhaul.&nbsp;
What is Global Minimum Tax?&nbsp;&nbsp;
The new proposal basically means that corporations around the world will need to pay at least a 15% tax on their earnings irrespective of where they are &lsquo;headquartered&rsquo;.&nbsp;
Why was it needed?
The bid is being made to discourage internationally present companies from shifting profits&nbsp; and tax revenues - to low-tax countries regardless of where their sales are made. Increasingly corporate income from intangible sources like software and patents is being migrated to tax havens, allowing companies to keep away from paying higher taxes in their traditional home countries. Some small countries entice companies with low or zero taxes, even though the firms do little actual business there. A study in 2018 concluded that around 40 per cent of multinationals&rsquo; overseas profits are artificially shifted to low-tax countries. As per some estimates, corporate tax avoidance costs countries around the world $300 to $500 billion in lost revenues each year.
How does it plug the global tax loophole?
Global companies will no longer be in a position to dodge their tax obligations by booking their profits in the lowest-tax countries regardless of where they generated the revenue as the global minimum tax rate would apply to overseas profits.&nbsp;Although, governments could still set whatever local corporate tax rate they want, but if companies pay lower rates in a particular country, their home governments could "top-up" their taxes to the minimum rate, eliminating the advantage of shifting profits.
Paradise lost for tax havens?
Bermuda, the British Virgin Islands and the Cayman Islands have been long standing tax havens for corporations and only make revenue from fees of &lsquo;corporate services&rsquo; from companies registered in the region. It&rsquo;s not just small islands, several EU countries, such as Ireland and Cyprus, have lured investment with a low corporate-income-tax rate (both levy 12.5%).&nbsp;Corporate tax now accounts for a record 20% of Ireland&rsquo;s total tax take.&nbsp;
&nbsp;
What about tech giants?
A big hit of taxes likely to the e-commerce and tech giants which have placed themselves comfortably in tax friendly zones. Amazon&rsquo;s case was cited by many backers of the tax as why it was urgently needed. Amazon has seen its profits soar during the pandemic &ndash; a record&nbsp;44 billion Euros in European sales alone.&nbsp;Yet, their tax returns filed in Luxembourg showed no tax was paid due to the tax deal it has in the country. An oxfam study shows that while&nbsp;the average US worker pays a tax rate of 22%, Amazon&rsquo;s US federal tax rate last year was just 9%, despite earning a record $20 billion in US profits. However social media giant Facebook has welcomed the tax overhaul as a step in the right direction.&nbsp;
What does it mean for India?
Experts say said the global corporate tax pact is a path-breaking one, especially for large and developing countries like India which would always find it very difficult to keep corporate tax rates artificially lower in a bid to increase much-needed foreign direct investments in the country. This also opens the doors to giving taxing rights to "market countries" for a share of the global profits of multinational corporations.&nbsp;

EJ Explains| Global Minimum Tax gets a nod from 136 countries, tax havens loops finally closed?

India and 135 countries back the deal that set a minimum global tax rate of 15 per cent for big companies, making it harder for them to avoid taxation. EJ explains the new Global Minimum Tax. 


Global Minimum Tax Explained! Paradise lost for tax havens?

A group of 136 countries on Friday set a minimum global tax rate of 15 per cent for big companies and sought to make it harder for them to avoid taxation&nbsp;

There is a new tax in town, the Global Minimum Tax. The finance ministers of the world's richest countries have recently agreed to back a tax overhaul that aims to take away corporations from hiding away in tax-friendly countries. Here is all you need to know about the tax overhaul.&nbsp;
 What is Global Minimum Tax?&nbsp;&nbsp;
The new proposal basically means that corporations around the world will need to pay at least a 15% tax on their earnings irrespective of where they are &lsquo;headquartered&rsquo;.&nbsp;
 Why was it needed?
The bid is being made to discourage internationally present companies from shifting profits&nbsp; and tax revenues - to low-tax countries regardless of where their sales are made. Increasingly corporate income from intangible sources like software and patents is being migrated to tax havens, allowing companies to keep away from paying higher taxes in their traditional home countries. Some small countries entice companies with low or zero taxes, even though the firms do little actual business there. A study in 2018 concluded that around 40 per cent of multinationals&rsquo; overseas profits are artificially shifted to low-tax countries. As per some estimates, corporate tax avoidance costs countries around the world $300 to $500 billion in lost revenues each year.
 How does it plug the global tax loophole?
Global companies will no longer be in a position to dodge their tax obligations by booking their profits in the lowest-tax countries regardless of where they generated the revenue as the global minimum tax rate would apply to overseas profits.&nbsp;Although, governments could still set whatever local corporate tax rate they want, but if companies pay lower rates in a particular country, their home governments could "top-up" their taxes to the minimum rate, eliminating the advantage of shifting profits.
 Paradise lost for tax havens?
Bermuda, the British Virgin Islands and the Cayman Islands have been long standing tax havens for corporations and only make revenue from fees of &lsquo;corporate services&rsquo; from companies registered in the region. It&rsquo;s not just small islands, several EU countries, such as Ireland and Cyprus, have lured investment with a low corporate-income-tax rate (both levy 12.5%).&nbsp;Corporate tax now accounts for a record 20% of Ireland&rsquo;s total tax take.&nbsp;
&nbsp;
What about tech giants?
A big hit of taxes likely to the e-commerce and tech giants which have placed themselves comfortably in tax friendly zones. Amazon&rsquo;s case was cited by many backers of the tax as why it was urgently needed. Amazon has seen its profits soar during the pandemic &ndash; a record&nbsp;44 billion Euros in European sales alone.&nbsp;Yet, their tax returns filed in Luxembourg showed no tax was paid due to the tax deal it has in the country. An oxfam study shows that while&nbsp;the average US worker pays a tax rate of 22%, Amazon&rsquo;s US federal tax rate last year was just 9%, despite earning a record $20 billion in US profits. However social media giant Facebook has welcomed the tax overhaul as a step in the right direction.&nbsp;
 What does it mean for India?
Experts say said the global corporate tax pact is a path-breaking one, especially for large and developing countries like India which would always find it very difficult to keep corporate tax rates artificially lower in a bid to increase much-needed foreign direct investments in the country. This also opens the doors to giving taxing rights to "market countries" for a share of the global profits of multinational corporations.&nbsp;

From Beeple to Big B, the concept of unique non-replaceable digital tokens is the hottest new way of buying and selling things in the digital realm.

Top NFT fashion marketplaces to buy digital clothes for Metaverse avatars

Would you pay tens of thousands&nbsp;of bucks&nbsp;to buy clothes that you could&nbsp;never wear in real life?

Explained | Inside the world of fashion NFTs & where to buy them

NFTs are the hottest new way of buying &amp; selling things online
D&amp;G auctioning NFTs&nbsp;of 9 digital &amp; physical couture pieces
Digital-only brands are the true leaders of the&nbsp;NFT&nbsp;fashion world
RTFKT&nbsp;has sold fashion goods worth over $4.5 million
<h3>FULL-SCREEN TEXT:&nbsp; NFT&nbsp;fashion marketplaces to upgrade your Metaverse&nbsp;look</h3>
DressX&nbsp;sells designer digital clothes as both AR &amp;&nbsp;NFT&nbsp;pieces
Metajuku&nbsp;is&nbsp;a virtual shopping district located in&nbsp;a digital Metaverse
A virtual&nbsp;mall with&nbsp;stores&nbsp;by digital brands and 3D designers
The Dematerialised is a web3 marketplace for verified fashion assets
Products built on LUKSO&nbsp;and designed by popular digital brands

Digital-only fashion brands with no&nbsp;physical presence are the real leaders of the wearable&nbsp;NFT market.

Would you pay tens of thousands&nbsp;of bucks&nbsp;to buy clothes that you could&nbsp;never wear in real life?&nbsp;&nbsp;
Well, you might not,&nbsp;but there are plenty who will and are paying big bucks for digital-only garments and accessories.&nbsp;This&nbsp;is&nbsp;the&nbsp;world of wearable non-fungible tokens or NFTs.
SEE MORE <a href="https://www.editorji.com/story/from-tesla-s-technoking-to-the-twitter-boss-what-s-the-buzz-about-nfts-1615894471885">What's the buzz about NFTs?</a>
From&nbsp;Beeple&nbsp;to <a href="https://www.editorji.com/story/amitabh-bachchan-launches-nft-collection-first-indian-actor-to-do-so-1630413596548">Big B</a>, the concept of&nbsp;unique non-replaceable digital tokens is the hottest new&nbsp;way of buying and selling things in the digital realm.&nbsp;
No strangers to sales, fashion brands and designers are&nbsp;jumping&nbsp;in to&nbsp;cash in on the wave.&nbsp;
Italian fashion label Gucci auctioned off its first NFT, a fashion film, for $20,000&nbsp;earlier this year.&nbsp;British fashion house Burberry created a character capsule&nbsp;of NFTs in partnership with Mythical Games&nbsp;that was sold for&nbsp; $400,000 as in-game purchases to&nbsp;Blankos&nbsp;Block Party players.
SEE MORE&nbsp;<a href="https://www.editorji.com/story/nft-luxe-you-can-buy-gucci-s-new-sneakers-for-870-but-you-can-t-wear-them-1616067392668">You can buy Gucci's new sneakers for ₹870 but you can't wear them</a>
Now, Italian luxury brand Dolce &amp; Gabbana&nbsp;is blending the digital with the physical for a high-fashion NFT drop.&nbsp;With&nbsp;nine NFTs, D&amp;G is auctioning&nbsp;a couture collection that&nbsp;features&nbsp;digital versions&nbsp;of real garments&nbsp;for your&nbsp;Metaverse&nbsp;wardrobe as well as five physical pieces that you can wear IRL.&nbsp;The auction will&nbsp;be run&nbsp;on&nbsp;UNXD.com,&nbsp;which&nbsp;calls itself a&nbsp;curated marketplace for digital&nbsp;culture.
But these luxury brands are far from the only crypto fashion sellers. In fact,&nbsp;new age digital-only fashion brands with basically no&nbsp;physical presence are the real leaders of this market.&nbsp;One such brand&nbsp;RTFKT has sold digital goods worth over $4.5 million and&nbsp;recently raised&nbsp;$8 million in funding.
If you&rsquo;re&nbsp;looking for some fashionable swag for&nbsp;your&nbsp;digital avatar, here are some digital&nbsp;fashion marketplaces!
DressX
With the tagline &lsquo;don&rsquo;t shop less, shop digital,&rsquo;&nbsp;DressX&nbsp;retails digital clothes designed&nbsp;in-house and&nbsp;by&nbsp;various&nbsp;brands.&nbsp;DressX&nbsp;has now partnered with crypto.com to add limited-edition drops or NFT items to its offering as well.
Metajuku&nbsp;
Inspired by Tokyo&rsquo;s Harajuku,&nbsp;Metajuku&nbsp;is a virtual shopping district located in&nbsp;a digital Metaverse called&nbsp;Decentraland. It's basically a virtual mall with&nbsp;stores&nbsp;from well-known digital brands and 3D designers. And get this,&nbsp;DressX&nbsp;is&nbsp;also a&nbsp;virtual&nbsp;tenant&nbsp;in&nbsp;Metajuku!&nbsp;
The Dematerialised
The Dematerialised is a Web3 marketplace for authenticated fashion assets.&nbsp;Items on the platform are built on the LUKSO blockchain and so far, they have launched pieces by&nbsp;hot digital brands like&nbsp;ARTFKT,&nbsp;The Fabricant and Tribute among others.&nbsp;&nbsp;
All in all, these marketplaces are just the tip of the NFT iceberg&nbsp;with new shops cropping up every day.&nbsp;
So, will this collectors craving boom or die away? Only time can tell.
SEE MORE&nbsp;<a href="https://www.editorji.com/story/adding-to-the-blockchain-buzz-wazirx-launches-india-s-first-digital-nft-platform-1622542682882">WazirX launches India's first digital NFT platform</a>

A survey's findings illustrate that workers are still trying to get accustomed to remote working. Many are losing jobs due to blunders during virtual meetings.

New survey finds that employees have lost jobs due to blunders during virtual meetings

After surveying 200 managers of large companies, it has been noted that nearly 1 in 4 of them have fired an employee due to zoom call slip ups.

WFH woes: Zoom call gaffes can cost you your jobs!

A new survey has established that&nbsp;nearly 1 in 4 executives have fired an employee for slipping up during a video or audio conference.

While employees are still getting used to the remote work environment and virtual communication, a new survey has found that nearly 1 in 4 executives have fired an employee for slipping up during a video or audio conference.
The survey, commissioned by Vyopta Inc, which helps companies monitor and analyse performance and provide workspace insights, surveyed around 200 managers of large companies. The survey found that managers don't completely trust a third of their staff to perform efficiently when working remotely, due to all the slip ups during video calls. Also watch:&nbsp;<a href="https://www.editorji.com/story/after-effects-of-covid-19-symptoms-can-persist-a-year-post-recovery-1630553878472">After effects of Covid-19: Symptoms can persist a year post recovery</a>
The virtual meeting blunders include joining a call late, having a bad internet connection, accidentally sharing sensitive information, and of course, not knowing when to mute oneself. The survey adds that such mistakes have hurt businesses by losing potential sales or clients. These findings illustrate that workers are still trying to get accustomed to remote working.
According to the video teleconferencing company Zoom, daily participants in the software surged from 10 million a day at the end of 2019 to 300 million in April 2020. However, due to escalating competition from other companies and the reopening of many schools and offices, investors are predicting that the days of Zoom's robust growth are over. Also watch:&nbsp;<a href="https://www.editorji.com/story/music-helped-people-get-through-the-pandemic-stress-study-1630323919853">Music helped people get through the pandemic stress: Study</a>

Ola Electric has begun accepting bookings for its upcoming electric scooter for a token amount of Rs. 499. Interested customers can log on to the company website and book the vehicle, which the launch is scheduled within a few weeks from now. The Ola electric scooter is likely to have a range of about 100-150 km and get features like a removable Lithium-ion battery, digital instrument console, cloud connectivity, alloy wheels, telescopic suspension. The Ola electric scooter will be built at the company&rsquo;s mega factory in Tamil Nadu and sales are expected to begin right around the festive season. The upcoming Ola scooter will take on the TVS iQube, Ather 450X and the Bajaj Chetak in the segment.

Ola Electric Begins Taking Online Bookings For Its Scooter

&ldquo;Sad to leave Kerala, I have been kicked out,&rdquo; Kitex chairman Sabu

“Sad to leave Kerala, I have been kicked out,” Kitex chairman Sabu“Sad to leave Kerala, I have been kicked out,” Kitex chairman Sabu

Purvi Modi, sister of fugitive diamond&nbsp; businessman Nirav Modi, has reportedly offered to remit about Rs 275 crore lying in a Swiss bank account to the Indian government.
Earlier this month, The Indian Express, as part of its investigation into the Pandora Papers, had reported, that a month before Nirav Modi fled India in January 2018,&nbsp;Purvi Modi set up a company&nbsp;in the British Virgin Islands&nbsp;to act as a corporate protector of funds in&nbsp;The Deposit Trust.
Purvi&nbsp;had claimed that Brookton Management Ltd, the offshore company was funded by her salary and personal earnings as the creative director of Firestar, the company accused of defrauding Punjab National bank.
Reports citing sources say,&nbsp;Purvi Modi&nbsp;has now given a no-objection letter for remitting about Rs 275 crore lying in the bank account.&nbsp;Earlier this year a court in Mumbai had allowed Nirav's sister&nbsp;Purvi Modi&nbsp;to turn approver in the Punjab National Bank (PNB) scam case.
The Indian government is now reportedly considering Purvi Modi&rsquo;s application and is in talks with the Swiss authorities for repatriation of funds.

Pandora Papers: Nirav Modi's sister Purvi Modi offers her Swiss account funds to the govt

Week after Purvi Modi was named for dealing in secret offshore finances, sister of fugitive diamantaire Nirav Modi has now offered to remit about Rs 275 crore lying in a Swiss bank account to the Indian govt

// Nirav&nbsp;Modi's&nbsp;sister&nbsp;Purvi&nbsp;offers to pay&nbsp;₹275 crore&nbsp;to Indian govt
Purvi Modi, sister of fugitive diamond businessman Nirav Modi, has reportedly offered to remit about Rs 275 crore lying in a Swiss bank account to the Indian government.
//&nbsp;Purvi Modi set up a offshore company&nbsp;to protect&nbsp;funds: reports
// Purvi&nbsp;set up company, a month before Nirav Modi fled India
Earlier this month, The Indian Express, as part of its investigation into the Pandora Papers, had reported, that a month before Nirav Modi fled India in January 2018,&nbsp;Purvi Modi set up a company&nbsp;in the British Virgin Islands&nbsp;to act as a corporate protector of funds in&nbsp;The Deposit Trust.
// Purvi&nbsp;Modi&nbsp;claims&nbsp;offshore company was funded by her salary
Purvi&nbsp;had claimed that Brookton Management Ltd, the offshore company was funded by her salary and personal earnings as the creative director of Firestar, the company accused of defrauding Punjab National bank.
//&nbsp;Nirav&nbsp;Modi's sister&nbsp;Purvi has turned&nbsp;approver in the PNB&nbsp;scam case
Earlier this year a court in Mumbai had allowed Nirav's sister&nbsp;Purvi Modi&nbsp;to turn approver in the Punjab National Bank (PNB) scam case.

According to Pandora papers,&nbsp;Nirav Modi's&nbsp;sister had opened a firm in the British Virgin Islands just a month before her brother fled India in January 2018.

Purvi Modi, sister of fugitive diamond businessman Nirav Modi, has reportedly offered to remit about Rs 275 crore lying in a Swiss bank account to the Indian government.
Earlier this month, The Indian Express, as part of its investigation into the Pandora Papers, had reported, that a month before Nirav Modi fled India in January 2018,&nbsp;Purvi Modi set up a company&nbsp;in the British Virgin Islands&nbsp;to act as a corporate protector of funds in&nbsp;The Deposit Trust.
Purvi&nbsp;had claimed that Brookton Management Ltd, the offshore company was funded by her salary and personal earnings as the creative director of Firestar, the company accused of defrauding Punjab National bank.
Reports citing sources say,&nbsp;Purvi Modi&nbsp;has now given a no-objection letter for remitting about Rs 275 crore lying in the bank account.&nbsp;Earlier this year a court in Mumbai had allowed Nirav's sister&nbsp;Purvi Modi&nbsp;to turn approver in the Punjab National Bank (PNB) scam case.
The Indian government is now reportedly considering Purvi Modi&rsquo;s application and is in talks with the Swiss authorities for the repatriation of funds.

RBI Monetary Policy : Reserve Bank of India (RBI) highlighted the risk from surging commodity prices even as it kept rates on hold at it's October meet on Friday. 

RBI Monetary Policy: Rates held, RBI urges govt to reduce taxes on fuel

RBI holds rates but highlights risk from rising energy prices. Commodity risks start to replace covid concerns for central bank. 

RBI raises red flag on global energy crisis, asks govt to reduce taxes

RBI Monetary Policy:&nbsp;We also retain the "accomodative" stance and will ensure that inflation remains within target range.

RBI Monetary Policy : Reserve Bank of India (RBI) highlighted the risk from surging commodity prices even as it kept rates on hold at it's October meet on Friday. The central bank held repo rate at 4% and assured the market that the accommodative&nbsp;stance will continue.&nbsp; The <a href="https://www.editorji.com/story/get-your-wallets-ready-for-digital-rupee-rbi-says-digital-currency-to-have-phased-introduction-1627011507993" target="_blank">Reserve Bank of India(RBI)</a>&nbsp;governor however raised the red flag on rising commodity prices which are seeping in to the economy and hurting consumers and industry. The RBI&nbsp;chief Shaktikanta&nbsp;Das&nbsp;said that the rising crude and commodity prices will have to be watched closely as they pose downside risk to the economic recovery.&nbsp; The RBI&nbsp;governor went a step ahead to urge the government to reduce taxes on fuel that is adding further pressure on <a href="https://www.editorji.com/partner/car-and-bike/fuel-prices-hit-record-highs-once-again-1633536503566" target="_blank">fuel prices</a> and inflation. Das&nbsp;stated, "Efforts to contain cost push pressures through a calibrated reversal of fuel taxes could contribute to lowering of inflation." Petrol and diesel rates have been hiked for 4 straight days leading to record high prices at the pumps.&nbsp;
Also Read:&nbsp;<a href="https://www.editorji.com/business-news/economy/rbi-policy-preview-are-your-home-loan-rates-set-to-rise-by-the-year-end-1633603210672" target="_blank">RBI Policy Preview: Are your home loan rates set to rise by the year end?</a> <a href="https://www.editorji.com/story/bad-news-for-india-crude-oil-prices-back-at-70-bbl-mark-1621338171319" target="_blank">Crude oil prices</a> are near the highest level since 2014 while power plants across the country also face severe shortage. Coal prices globally are up over 100% in the last one year.&nbsp;&nbsp;

Pink Tax is not a tax but an extra amount charged on products and services designed for women.

Pink Tax: The extra price charged on products and services designed for women

Pink Tax is not a tax but an extra amount charged on products and services designed for women. This is the reason why everyday products like razors and shampoos for women cost more than those designed for men.&nbsp;&nbsp;

Pink Tax: The extra price you pay for being a woman!

Pink Tax: Did you know that some personal care products and services for women cost more than those for men? If not, then have we got some news for you! Commonly referred to as Pink Tax, it is an extra amount charged on products designed for and targeted specifically towards women even when its equivalent for men costs much less. This concept of gender-based pricing is now so deeply entrenched in the system, that it often gets overlooked by the majority of consumers.&nbsp;
Packaged in hues of pink and purple, &ldquo;female&rdquo; products cannot be hard to miss on the shelves of your regular grocery store. Fragrances like "Sweet Pea" and "Cherry Blossom" combined with glittery packaging often make us turn a blind eye towards the "rugged" blue-black packaging of products marketed towards men. But, is it truly worth the extra cost you end up paying for a dash of colour or a spritz&nbsp;of&nbsp;perfume?
Something as small as a razor aimed towards women&nbsp;costs more than the ones available for men. While a pack of 5 Gillette razors for men costs approximately Rs 88, a similar pack of 4 Gillete razors for women costs around Rs 280. The concept of 'invisible tax' also applies to personal care services which lead to an increase in the cost for women. A salon would charge more for women&rsquo;s haircuts or massages than it would for a similar service for men. &nbsp;
After a series of protests and rallies, in 2018 the Indian Government did away with the 12 percent <a href="https://www.editorji.com/story/not-the-right-time-to-include-fuel-under-gst-fm-clarifies-post-gst-meet-1631892561591" target="_blank">GST </a>on sanitary products. This is not considered as pink tax but it was nonetheless a huge amount of tax being levied on a product of necessity. Sadly, the prices of sanitary products continue to remain pretty high irrespective of the tax slash.
According to the study, Cradle to Cane: The Cost of Being a Female Consumer by The New York City Department of Consumer Affairs, on average, &ldquo;personal care products cost 13 percent more for women than men.&rdquo;
As per recent research carried out in Mumbai by the World Bank, there is also an &ldquo;implicit surcharge&rdquo; or <a href="https://www.editorji.com/lifestyle-news/pink-tax-the-extra-price-you-pay-for-being-a-woman-1628140827369" target="_blank">pink tax</a> on &ldquo;women&rsquo;s mobility.&rdquo; The research found that over the years the mobility pattern has undergone a huge change. While men have shifted to two or four-wheelers, women continue to use low-quality modes of transport like rickshaws and taxis which deem to be more expensive.
Why should women be made to pay extra? In a research by the Joint Economic Committee: US Congress in 2016, it was highlighted that one of the major explanations for levying pink tax is the difference in cost of production. For instance, some products that require a specific colour or scent will have a higher cost of manufacture, leading to a spike in product pricing.
Why is there a need to do away with pink tax? As predicted by the World Economic Forum, the existing gender pay gap will take around 136 years to close. From the film industry to farm labour, women in every sector are paid way less than their male counterparts. Hence, charging extra for everyday products will only make life more difficult for women.
What can you do to avoid this extra cost? The first step is to keep yourself informed about the prices as it will help in making an informed choice. The second step is to understand that whether a razor is blue or pink in colour, both will do the same task of hair removal. And if you don&rsquo;t like using products with a musky fragrance, you can always opt for gender-neutral options.
Also Read:&nbsp;<a href="https://www.editorji.com/story/rush-for-tax-savings-4-things-you-could-consider-1616845153527" target="_blank">Rush for tax savings, 4 things you could consider</a>
The concept of pink tax is quite unfair and steps are being taken to get rid of this invisible cost.&nbsp;Scotland emerged as the first country to make tampons and pads free for everyone. Also, the famous <a href="https://www.editorji.com/story/these-are-the-worst-foods-to-buy-from-the-supermarket-1621665903893" target="_blank">supermarket</a> brand Tesco in the UK has slashed the prices of razors for women. But these are only baby steps as we still have a long way to go to arrive at a more gender-equal market.

Personal Finance

Happy Navratri 2021:  India's gold imports in September soared 658% from last year's low base. In value terms India imported $5 billion worth of gold in September ahead.

Gold Price on Navratri 2021: Gold prices down to near 6 month lows, are you adding glitter to the shopping list?

With gold prices down near 6 months high, jewellers kick start Navratri festivities with cash back and gold at your doorstep

Gold at 6-month low| Jewellers launch cash back and doorstep delivery

Navratri 2021: Weddings and festivals set to spur gold sales across India from October to December.&nbsp;

Happy Navratri 2021: It's season for glitter and gold as&nbsp;Navratri&nbsp;festivities begin across the country&nbsp;! Jewellers are dusting off&nbsp; their counters to gear for what is traditionally the strongest 3 months of sale in the year.&nbsp; As <a href="https://www.editorji.com/business-news/personal-finance/navratri-2021-gold-prices-down-to-near-6-month-lows-are-you-adding-glitter-to-the-shopping-list-1633576793139" target="_blank">gold prices</a> hover around 6 months of Rs Indians rushed to buy more. Prices are down over Rs 8,000&nbsp; from record high of Rs 56,000 last year.&nbsp;India's gold imports in September soared 658% from last year's low base. In value terms India imported $5 billion worth of gold in September ahead of the festive season.&nbsp;
Also watch:&nbsp;<a href="https://www.editorji.com/lifestyle-news/navratri-2021-festival-dedicated-to-different-forms-of-durga-and-feminine-power-1633528654531" target="_blank">Navratri 2021: Festival dedicated to different forms of Durga and feminine power</a> Jewellers are also lining up with festive offers to lure shoppers back after a lacklustre season in 2020. One of India's largest jewellery chains Kalyan&nbsp;Jewellers is offering up to 25 per cent cashback on their jewellery purchases and also a book your rate scheme for gold prices. Many jewellery stores in south are also offering gold at your doorstep with delivery and even pick up EMI&nbsp;from home to ensure glitter is added to their sales numbers this year.&nbsp;
The love for gold is evident as&nbsp;Jewelers are being further encouraged that sales volumes will rise due to a 17% decline in gold prices in the local markets since their record high last August, as the precious metal&rsquo;s safe-haven value wanes amid a global economic recovery from the pandemic.

Home loan rates cut by Kotak&nbsp;Mahindra&nbsp;bank just ahead of the festive season to a decade low of 6.5%. The bank has reduced rates by 15 bps and the new rate is effective from September 10.&nbsp;Kotak&nbsp;was already offering the lowest home loan rates amongst peers where the range for loans upto&nbsp;Rs 50 lakh&nbsp;ranged from&nbsp;6.66%-7.05%.&nbsp;&nbsp;Private bank peers HDFC&nbsp;Bank and ICICI&nbsp;bank currently offer home loan rates at 6.75% in the same bracket.&nbsp;
Banks are facing stiff competition from housing finance companies that are offering rates as low as PSU&nbsp;leader SBI&nbsp;at 6.66%.&nbsp;

Home loan rate cut, Kotak Mahindra Bank cuts rates to lowest in 10 years

Cheap Home Loan| Bank cuts rate to lowest in 10 years

Kotak Mahindra&nbsp;Bank will offer home loans at 6.50 percent per annum starting September 10.

Home loan rates cut by Kotak&nbsp;Mahindra&nbsp;bank just ahead of the festive season to a decade low of 6.5%. The bank has reduced rates by 15 bps and the new rate is effective from September 10.&nbsp; Kotak&nbsp;was already offering the lowest home loan rates amongst peers where the range for loans upto&nbsp;Rs 50 lakh&nbsp;ranged from&nbsp;6.66%-7.05%.&nbsp;&nbsp;Private bank peers HDFC&nbsp;Bank and ICICI&nbsp;bank currently offer home loan rates at 6.75% in the same bracket.&nbsp;
Banks are facing stiff competition from housing finance companies that are offering rates as low as PSU&nbsp;leader SBI&nbsp;at 6.66%.&nbsp;

As the date for filing IT returns has been postponed to December 31, taxpayers get enough time to pre validated bank account to receive their income tax refund
Here are some tasks to complete to get your Income tax refund on time:
- Tax refunds will be credited only to those bank accounts which are linked with PAN and are also pre-validated on the income tax e-filing website
- If your bank is integrated with the e-filing portal, pre-validation can be done directly through Electronic Verification Code (EVC) and net-banking route
- Before, Pre-Validating your Bank Account make sure that your PAN is linked to Bank account, the mobile number is linked to Bank account, and Name in bank account shall match the name in income-tax records.
To go further here are the steps to prevalidate your bank account for the purpose of receiving tax refunds:
Step 1: Go to the income tax e-filing website,and log in to your accountStep 2: Select Profile Settings -&gt;Prevalidate Your Bank Account optionStep 3: If you do not have any pre-validated bank account then you will get an option to add your bank account details. Enter the following bank details to pre-validate your bank account: &ndash;
Bank Account NumberBank IFSC CodeBank NameMobile NumberEmail IDNote: &ndash; You are required to enter that mobile number and email address which are registered with your bank, not the mobile number and email associated with your e-Filing login.
Step 4: After entering your bank and contact details, click on 'Prevalidate' button. You will get the acknowledgement from the Income Tax Department.
Note:&ndash; You will be only able to validate those bank accounts which have been linked using exactly same PAN number.

Income tax refund will be credited only if you complete these tasks

If you want your income tax refund to be credited in a timely fashion and without any hurdles there are few steps you have to undertake to ensure the process is smooth. 

Income Tax refunds, only if you follow these steps 

The tax payers need to link their PAN with the account and also prevalidate their bank accounts.

If you want your income tax refund to be credited in a timely fashion and without any hurdles there are few steps you have to undertake to ensure the process is smooth. EJ Biz puts together your #ToDo&nbsp;list to make sure tax refund is received by you in a timely fashion. Here are some tasks to complete to get your Income tax refund on time:
<ul>
<li>Tax refunds will be credited only to those bank accounts which are linked with PAN</li>
<li>PAN also needs to be pre-validated on the income tax e-filing website</li>
<li>If your bank is integrated with the e-filing portal, pre-validation can be done directly through Electronic Verification Code (EVC) and net-banking route</li>
<li>Before, Pre-Validating your Bank Account make sure that your PAN and mobile number is linked to the mentioned&nbsp;Bank account</li>
<li>Also ensure tat the name in bank account shall match the name in income-tax records.</li>
</ul>
To go further here are the steps to pre-validate your bank account for the purpose of receiving tax refunds:
Step 1: Go to the income tax e-filing website,and log in to your account Step 2: Select Profile Settings -&gt;Pre-validate Your Bank Account option Step 3: If you do not have any pre-validated bank account then you will get an option to add your bank account details. Enter the following bank details to pre-validate your bank account: &ndash;
<ul>
<li>Bank Account Number</li>
<li>Bank IFSC Code</li>
<li>Bank Name</li>
<li>Mobile Number</li>
<li>Email ID</li>
</ul>
Note: &ndash; You are required to enter that mobile number and email address which are registered with your bank, not the mobile number and email associated with your e-Filing login.
Step 4: After entering your bank and contact details, click on 'Prevalidate' button. You will get the acknowledgement from the Income Tax Department.
Note:&ndash; You will be only able to validate those bank accounts which have been linked using exactly same PAN number.

Get ready to pay more tax for food and consumption goods as The Mint reports the Finance Minister led GST&nbsp;panel could rework the current tax system to reduce the category and potentially raise the tax rate.&nbsp;Currently under the 4 tax slab&nbsp;GST&nbsp;regime, essentials such as food items attract the lowest rate of 5% while luxury goods see a levy of 28%, the highest of the 4 rates. Mint reports quoting unnamed officials, that&nbsp;two lowest rates (5% and 12%) could be raised by a percentage point each to 6% and 13% while the number of categories could be reduced to three.&nbsp;The govt's&nbsp;GST&nbsp;collection has been over the Rs 1 lakh crore&nbsp;mark for the last 3 months.&nbsp;

Taxing times: GST rate likely to be raised, categories to reduced: reports 

GST Panel may look at increasing tax on some goods and services in a step toward moving to a simpler structure with fewer rates.

GST rates set to rise?

GST panel&nbsp;headed by Finance Minister Nirmala Sitharaman, will likely meet in December to consider the overhaul

Get ready to pay more tax for food and consumption goods as The Mint reports the Finance Minister led GST&nbsp;panel could rework the current tax system to reduce the category and potentially raise the tax rate.&nbsp; Currently under the 4 tax slab&nbsp;GST&nbsp;regime, essentials such as food items attract the lowest rate of 5% while luxury goods see a levy of 28%, the highest of the 4 rates. Mint reports quoting unnamed officials, that&nbsp;two lowest rates (5% and 12%) could be raised by a percentage point each to 6% and 13% while the number of categories could be reduced to three.&nbsp; The govt's&nbsp;GST&nbsp;collection has been over the Rs 1 lakh crore&nbsp;mark for the last 3 months.&nbsp;

PF Rule: According to the CBDT, All existing employees provident fund (EPF) accounts will be divided into taxable and non-taxable contribution accounts. 

Provident Fund (PF) account to be split into two; taxable and non-taxable 

Big Change in you PF account , your Provident Fund account to be split into two; taxable and non-taxable

Big Change in you PF account 

Finance Ministry notifies rules for calculating taxable interest in PF account.&nbsp;

You would soon have two provident fund accounts as per the regulations notified by the central government on Thursday. The PF account would be&nbsp;split into two separate accounts in order to levy the new&nbsp;tax on PF income&nbsp;arising out of employee contributions exceeding Rs 2.5 lakh a year. All existing employees provident fund (EPF) accounts will be divided into taxable and non-taxable contribution accounts.&nbsp; This move does not affect small and medium taxpayers as the Rs 2.5 lakh limit covers around 93 per cent of the people who are <a href="https://www.editorji.com/story/epfo-allows-to-withdraw-non-refundable-advance-in-case-of-job-loss-1624193637656" target="_blank">EPFO </a>subscribers and they will continue to get assured tax-free interest.
Also Read:&nbsp;<a href="https://www.editorji.com/story/your-pf-could-get-blocked-if-you-do-not-follow-this-rule-as-the-deadline-approaches-1628572701992" target="_blank">Your PF could get blocked if you do not follow this rule before September 1, here is what you need to do</a>

A surge of redemption saw equity mutual fund inflows dip by 50% in June, the silver lining is that&nbsp; it was the fifth straight month of positive net equity inflow in June. Here are the details of fund flows-:&nbsp;The equity inflow slowdown

Equity funds got an inflow of Rs 5,988 crore in June 2021, down from Rs 10,082 crore in May.
Equity-linked saving funds see out flow of Rs 791 cr , Value funds lost Rs 114 crore&nbsp;in June&nbsp;

Where is the money moving?

Bond funds saw net inflows of Rs 3,566 crore in June 2021 against outflows of Rs 44,512 crore in May
Mid cap funds got the highest inflows of Rs 1,729 crore&nbsp;(ex-redemptions)
Floater fund and low duration fund got net inflows of Rs 6,318 crore and Rs 6,273 crore, respectively.
Gold funds got net inflows of Rs 359 crore in June compared to Rs 287 crore in May&nbsp;


Redemptions lead to a 50% drop in equity inflows for mutual funds in June, Where is the money moving?

Redemption&nbsp;lead to a 50% drop in equity inflows for mutual funds in June, Where is the money moving?

Mutual fund watch 

Equity mutual fund inflows dip by 50% in June; debt MFs recover.

A surge of redemption saw equity mutual fund inflows dip by 50% in June, the silver lining is that June the fifth straight month of positive net equity inflows. Here are the details of fund flows and where the money is moving-: &nbsp; The equity inflow slowdown
<ul>
<li>Equity funds got an inflow of Rs 5,988 crore in June 2021, down from Rs 10,082 crore in May.</li>
<li>Equity-linked saving funds see out flow of Rs 791 cr , Value funds lost Rs 114 crore&nbsp;in June&nbsp;</li>
</ul>
Where is the money moving?
<ul>
<li>Bond funds saw net inflows of Rs 3,566 crore in June 2021 against outflows of Rs 44,512 crore in May</li>
<li>Mid cap funds got the highest inflows of Rs 1,729 crore&nbsp;(ex-redemptions)</li>
<li>Floater fund and low duration fund got net inflows of Rs 6,318 crore and Rs 6,273 crore, respectively.</li>
<li>Gold funds got net inflows of Rs 359 crore in June compared to Rs 287 crore in May &nbsp;</li>
</ul>

Cryptocurrency

Shiba&nbsp;Inu, the meme&nbsp;crypto&nbsp;developed on the lines of Dogecoin, has surged over 220% in the last seven days. SHIB had recently crossed the market value of Litecoin&nbsp;to become the 12th biggest cryptocurrency, as per a Bloomberg&nbsp;report.
However, the meme&nbsp;token was down a whopping 30% in the last 24 hours.
This comes as the cryptocurrency&nbsp;markets, as a whole, outperform of late. Bitcoin, which retains its position as the dominating crypto&nbsp;coin, is up over 23% in the last seven days. It surged to the highest level since May.
&nbsp;

Shiba Inu surged 220% this week against the 23% gain in Bitcoin

Crypto Alert! Elon Musk's pet project Shiba Inu has surged over 220% in the last seven days.  

This crypto surged 220% against Bitcoin's 23% gain

Shiba&nbsp;Inu had recently crossed the market value of Litecoin&nbsp;

Shiba&nbsp;Inu, the meme&nbsp;crypto&nbsp;developed on the lines of Dogecoin, has surged over 220% in the last seven days. SHIB had recently crossed the market value of Litecoin&nbsp;to become the 12th biggest cryptocurrency, as per a Bloomberg&nbsp;report.
The move comes days after Musk tweeted a picture of his puppy, Floki. SHIB, which uses a meme of the Shiba Inu breed of Japanese hunting dogs.&nbsp;However, the meme&nbsp;token was down a whopping 30% in the last 24 hours.&nbsp;
This comes as the cryptocurrency&nbsp;market, as a whole, has seen a streak of outperformace.&nbsp;Bitcoin, which retains its position as the dominating crypto&nbsp;coin, is up over 23% in the last seven day, reclaiming the $50,000 mark for the first time since May.&nbsp;
&nbsp;

With 10.7 crore&nbsp;crypto&nbsp;owners, India is topping the list of the digital ownership globally as per&nbsp;broker discovery and comparison platform BrokerChooser. Mint reports that&nbsp;as a percentage of the total population, India stood at the fifth spot at 7.30%. Ukraine ranked first with 12.73% people of the total population owning crypto followed by Russia (11.91%), Kenya (8.52%) and the US (8.31%).India&rsquo;s largest stockbroker Zerodha has been overtaken by some of the country&rsquo;s popular crypto exchanges in the number of users. Zerodha at present has over seven million users against 11 million at CoinSwitch Kuber and 8.3 million at WazirX.

India's crypto love; users on crypto exchange surpass the largest equity brokerage

India surges past US to have the most number of crypto owners in the world as users multi

India's love for Crypto

Report: India has the highest number of crypto owners in the world&nbsp;

With 10.7 crore&nbsp;crypto&nbsp;owners, India is topping the list of the digital ownership globally as per&nbsp;broker discovery and comparison platform BrokerChooser. Mint reports that&nbsp;as a percentage of the total population, India stood at the fifth spot at 7.30%. Ukraine ranked first with 12.73% people of the total population owning crypto followed by Russia (11.91%), Kenya (8.52%) and the US (8.31%). India&rsquo;s largest stockbroker Zerodha has been overtaken by some of the country&rsquo;s popular crypto exchanges in the number of users. Zerodha at present has over seven million users against 11 million at CoinSwitch Kuber and 8.3 million at WazirX.

China&rsquo;s central bank said all cryptocurrency-related transactions are illegal and must be banned.&nbsp;&nbsp;People&rsquo;s Bank of China in a statement on it's website announced that all crypto-related transactions, including services provided by offshore exchanges to domestic residents, are illicit financial activities.Pinning onto the climate change concerns China's economic planning agency said it plans to root out crypto mining and the crackdown is important to meet carbon goals.In May, Beijing said it will shut down cryptocurrency-mining activities because they consume massive amounts of electricity, often from coal-fired power plants, while the country pledged to manage its carbon emissions.

China cracks down on crypto: Bans all crypto related activities 

China cracks down on crypto: Bans all crypto related activities.&nbsp;

China cracks down on crypto

<ul>
<li>China central bank:&nbsp;all cryptocurrency-related transactions are illegal</li>
<li>China bans all&nbsp;cryptocurrency-related transactions</li>
<li>PBOC: All crypto&nbsp;financial activities deemed&nbsp;illicit</li>
<li>China: crackdown on crypto&nbsp;mining essential to meet carbon goals</li>
<li>Over 46% of crypto&nbsp;mining occurs in China</li>
</ul>

PBOC: All crypto currencies, including bitcoin and tether, are not fiat currency and cannot be circulated on the market

China&rsquo;s central bank said all cryptocurrency-related transactions are illegal and must be banned.&nbsp;&nbsp;People&rsquo;s Bank of China in a statement on it's website announced that all crypto-related transactions, including services provided by offshore exchanges to domestic residents, are illicit financial activities. Pinning onto the climate change concerns China's economic planning agency said it plans to root out crypto mining and the crackdown is important to meet carbon goals. In May, Beijing said it will shut down cryptocurrency-mining activities because they consume massive amounts of electricity, often from coal-fired power plants, while the country pledged to manage its carbon emissions.

India&rsquo;s largest bank State Bank of India (SBI) has&nbsp;reportedly stopped UPI services for the crypto&nbsp;platform. It has directed crypto exchanges to disable its UPI through payment processors.
The move comes months after the Reserve bank of India issued a clarification&nbsp;to banks asking them not to block crypto exchanges.
WazirX, the country's largest crypto&nbsp;exchange platform, took a hit as it received numerous user complaints as they were not able to deposit funds.
Leading Indian banks had earlier, HDFC, Axis, YES, ICICI and Kotak Mahindra, stopped their services to cryptocurrency exchanges following a circular by&nbsp;the RBI. However,&nbsp;later, when the matter went to the Supreme Court,&nbsp;the apex court stated that the matter of blocking cryptocurrencies does not fall under the purview of the central bank,&nbsp;thus, reversing the order.

SBI halts UPI to crypto, WaxirZ feels the pain

WazirX&nbsp;services hit hard as SBI&nbsp;blocks UPI services for crypto&nbsp;platforms

India&rsquo;s largest bank State Bank of India (SBI) has&nbsp;reportedly stopped UPI services for the crypto&nbsp;platform. It has directed crypto exchanges to disable its UPI through payment processors, this move comes without any prompts from the central banker RBI.&nbsp;
The direct hit came to&nbsp;WazirX, the country's largest crypto&nbsp;exchange platform, as it received numerous user complaints as they were not able to deposit funds.
The fear the traders have is that other banks may follow suit.&nbsp;Significantly, the domestic umbrella body National Payments Corporation of India (NPCI), which developed UPI, has refused to block fund movements for cryptocurrency trades.
ET reported that&nbsp;WazirX chief executive Nischal Shetty said they were in talks with SBI.&nbsp;&nbsp;&ldquo;We&rsquo;re trying to discuss and put forward our points to SBI. WazirX follows KYC (know your customer) norms and AML (anti-money laundering) policies. Being the largest crypto exchange in India, millions of Indians are currently affected due to this move by SBI.&rdquo;
&nbsp;

SBI&nbsp;halts its UPI service for the crypto&nbsp;platforms

India&rsquo;s largest bank State Bank of India (SBI) has&nbsp;reportedly stopped UPI services for the crypto&nbsp;platform. It has directed crypto exchanges to disable its UPI through payment processors, this move comes without any prompts from the central banker RBI.&nbsp;
The direct hit came to&nbsp;WazirX, the country's largest crypto&nbsp;exchange platform, as it received numerous user complaints as they were not able to deposit funds. The fear the traders have is that other banks may follow suit.&nbsp;Significantly, the domestic umbrella body National Payments Corporation of India (NPCI), which developed UPI, has refused to block fund movements for cryptocurrency trades.
ET reported that&nbsp;WazirX chief executive Nischal Shetty said they were in talks with SBI.&nbsp;&nbsp;&ldquo;We&rsquo;re trying to discuss and put forward our points to SBI. WazirX follows KYC (know your customer) norms and AML (anti-money laundering) policies. Being the largest crypto exchange in India, millions of Indians are currently affected due to this move by SBI.&rdquo;
&nbsp;

Kim Kardashian&nbsp;gets the U.K. financial regulator warning against promoting&nbsp;a speculative crypto&nbsp;token.
Consumers risk being lured into the &ldquo;cryptobubble with delusions of quick riches&rdquo; by high-profile influencers such as Kim Kardashian, the U.K.&rsquo;s Financial Conduct Authority (FCA) warned in a speech on Monday.
Charles Randell, Chair of the&nbsp;Financial Conduct Authority, called for regulators to be given greater powers to protect consumers and said if people buy speculative crypto tokens they should be prepared to lose all their money.
The FCA also called on online platforms like&nbsp;Facebook,&nbsp;Microsoft,&nbsp;Twitter and TikTok to join Google by committing to stop promoting advertisements for financial products, unless an FCA authorized firm has cleared them.
FCA has published a list of unregistered crypto exchanges that it suspects are operating in the U.K., to help consumers avoid using them.&nbsp;Last month, the regulator&nbsp;cracked down&nbsp;on one cryptocurrency trading firm after it failed to provide sufficient information about its business.

Kim Kardashian's warned by U.K finance regulator for crypto promotion, strict regulation coming?

UK finance regulator is not a fan of Kim Kardashian, warns realty TV star after crypto&nbsp;promotion on Instagram.&nbsp;

'Cryptobubble': Kim Kardashian's crypto promotion receives U.K. financial regulator warning

Consumers risk being lured into the &ldquo;cryptobubble", said, the U.K. FCA

Kim Kardashian&nbsp;is getting attention from corners she is not used to. The&nbsp;U.K. financial regulator has warned the popular reality TV star against promoting&nbsp;a speculative crypto&nbsp;token.
Consumers risk being lured into the &ldquo;cryptobubble with delusions of quick riches&rdquo; by high-profile influencers such as Kim Kardashian, the U.K.&rsquo;s Financial Conduct Authority (FCA) warned in a speech.&nbsp; The FCA chairman said Ms Kardashian's Instagram post, which he noted had been correctly flagged as an ad, may have been the "financial promotion with the single biggest audience reach in history". Kim Kardashian&nbsp;has over 250 million followers on the social platform Instagram.&nbsp;
Charles Randell, Chair of the&nbsp;Financial Conduct Authority, called for regulators to be given greater powers to protect consumers and said if people buy speculative crypto tokens they should be prepared to lose all their money.
The FCA also called on online platforms like&nbsp;Facebook,&nbsp;Microsoft,&nbsp;Twitter, and TikTok to join Google by committing to stop promoting advertisements for financial products, unless an FCA authorized firm has cleared them.

It is called a 'fat finger trade', a politically incorrect phrase for when someone erroneously punches in a wrong trade order. That is the tale of crypto&nbsp;exchange&nbsp;Bitfinex, that reportedly paid&nbsp;paid $23.7 million in transaction fees to deposit $100,000 on the blockchain.The aim was to move $100,000&nbsp;in Tether&nbsp;to the decentralized exchange DeversiFi&nbsp;by&nbsp;Bitfinex. Any transaction done on the Ethereum system pays miners gas fees, in exchange for incorporating their trades onto the digital ledger. In this transaction, it seems erroneously the trader punched in the gas fees as worth $24,000,000.&nbsp;DeversiFi&nbsp;tweeted about the transaction and said they are looking into it as reassured customers that no customer funds on were at risk and operations are unaffected.

Pricey error: 24 million dollars in fees for a 100 million dollar deposit

'Fat Finger Trade': This crypto exchange paid 24 million dollars in fees for a 100 million dollar deposit

Crypto&nbsp;exchange Bitfinex appears to have made a &lsquo;fat-finger&rsquo; crypto trade leading to high gas fees.&nbsp;

It is called a 'fat finger trade', a politically incorrect phrase for when someone erroneously punches in a wrong trade order. That is the tale of crypto&nbsp;exchange&nbsp;Bitfinex, that reportedly paid $23.7 million in transaction fees to deposit $100,000 on the blockchain. The aim was to move $100,000&nbsp;in Tether&nbsp;to the decentralized exchange DeversiFi&nbsp;by&nbsp;Bitfinex. Any transaction done on the Ethereum system pays miners gas fees, in exchange for incorporating their trades onto the digital ledger. In this transaction, it seems erroneously the trader punched in the gas fees as worth $24,000,000.&nbsp; DeversiFi&nbsp;tweeted about the transaction and said they are looking into it as reassured customers that no customer funds on were at risk and operations are unaffected.

Markets

Nazara Tech, India's first listed gaming company backed by ace investor Rakesh Jhunjhunwala raised Rs 315 crore from investors.

Rakesh Jhunjhunwala backed firm raises Rs 300 cr, up 162% in 6 months

Rakesh Jhunjhunwala backed firm raises Rs 300 cr, up 162% in 6 months making his stake worth over Rs 750 crores.

This recent listing has doubled in just 6 months! 

Jefferies:&nbsp;Nazara&nbsp;Tech&nbsp;offers a direct way to play the gaming ecosystem as it is building a network of gaming companies via M&amp;A that benefit from each other

Nazara&nbsp;Tech, India's first listed gaming company backed by ace investor Rakesh&nbsp;Jhunjhunwala&nbsp;raised Rs 315 crore&nbsp;from investors including Singapore sovereign wealth fund GIC-managed investment firm Gamnat Pte Ltd and Ahmedabad-based Plutus Wealth Management.
<a href="https://www.editorji.com/story/bumper-listing-for-rakesh-jhunjhunwala-backed-nazara-79-above-issue-price-1616942358810" target="_blank">Nazara&nbsp;Tech</a>&nbsp;plans to use the funds to&nbsp;pursue strategic acquisitions across verticals to expand the company&rsquo;s &ldquo;Friends of Nazara&rdquo; ecosystem.&nbsp;&ldquo;Friends of Nazara&rdquo;. The ecosystem&nbsp;network includes gaming startups in which Nazara holds majority stakes including&nbsp;Nodwin Gaming,&nbsp;Sportskeed,&nbsp;Halaplay and Openplay.&nbsp;
Also watch:&nbsp;<a title="Swiggy to Tata Digital: ESOP bonanza for employees this festive season" href="https://www.editorji.com/business-news/swiggy-to-tata-digital-esop-bonanza-for-employees-this-festive-season-1633579679566">Swiggy to Tata Digital: ESOP bonanza for employees this festive season</a> The stock which had an issue price of Rs 1101 and listed this year in March has given shareholders a return of over 150% since listing.&nbsp;&nbsp;<a href="https://www.editorji.com/story/rakesh-jhunjhunwala-buys-stake-in-this-psu-bank-1629868875478" target="_blank">Rakesh Jhunjhunwala</a>, known as the &lsquo;Big Bull&rsquo;, holds 10.82% stake or 32,94,310 shares in the gaming firm, as investment he made before the company listed. Jhunjhunwala's current holding in the company is worth over Rs 790 cr.&nbsp;

Markets at record high with Sensex&nbsp;at 60,000 and Nifty eyeing 18,000. The Sensex&nbsp;has rallied from 50,000 to 60,000 in under one year.&nbsp;Retail investors laughing the way to the bank are the risk-on betters that invested in the pandemic lows. From drop to 25,638 in March 2020 to the highs of 60,000 on September 24, the Sensex's ride has been dizzying to the top.&nbsp;The major factors at play is the lack of presence of any big negative overhangs. The fed taper talk worries have diminished, China pushing in liquidity to avert the Evergrande&nbsp;crisis and the robust vaccination drive keeping covid&nbsp;under control has all fuelled the bull run on Dalal&nbsp;Street.&nbsp;

Sensex at 60,000: Bulls cheer on Dalal Street, Nifty eyes 18,000

Sensex&nbsp;at 60,000! Time to retire or will the retail rally continue? The party on Dalal&nbsp;Street seems to just be starting

Sensex at 60,000!

It took less than a year for Sensex to rise from 50,000 to 60,000

Markets at record high with Sensex&nbsp;at 60,000 and Nifty eyeing 18,000. The Sensex&nbsp;has rallied from 50,000 to 60,000 in under one year.&nbsp; Retail investors laughing the way to the bank are the risk-on betters that invested in the pandemic lows. From drop to 25,638 in March 2020 to the highs of 60,000 on September 24, the Sensex's ride has been dizzying to the top.&nbsp; The major factors at play is the lack of presence of any big negative overhangs. The fed taper talk worries have diminished, China pushing in liquidity to avert the Evergrande&nbsp;crisis and the robust vaccination drive keeping covid&nbsp;under control has all fuelled the bull run on Dalal&nbsp;Street.&nbsp;

The latest AMFI data suggests investors are favoring equities with SIP contributions soaring to an all time high and even&nbsp;folios under retail schemes rose to a peak of Rs 8.95 crore.&nbsp;New fund offers (NFOs) continued to attract big money from retail investors and mobilised Rs 23,668 crore in AugustThere also seems to be 2-3 trends emerging out of the recent mutual fund investments by investors. The small-cap category has shown outflows while money seems to be moving into hybrid or balanced funds.&nbsp;The balanced advantage category continued saw net inflow worth Rs 16,570.97 crore last month and&nbsp;Flexi cap funds saw inflows of Rs 4,741 crore, followed by focused funds.Investors also invested Rs.6,863 Crore in equity oriented NFOs&nbsp;while the overall flows into New Fund Offers (NFOs) stood at Rs 23,668 cr.The overall Assets Under Management of MFs touched a new high of ₹36.59-lakh crore last month.&nbsp;

Sensex at 60,000: Retail investors party hard as SIP investments top $1 billion

SIP Contribution (` Cr) April 2021 ​​8596 May 8819 June​ 9156 July 9609 Aug ​9923 New Fund Offers (NFOs) - June: `358 cr - July: `13,709 cr - Aug: `23,668 cr

The overall Assets Under Management of MFs touched a new high of Rs 36.59-lakh crore last month.&nbsp;

Sensex&nbsp;has soared to 60,000 and it is the retail investors that are hosting the party on Dalal&nbsp;Street. The retail rush into the market is evident with&nbsp;SIP contributions soaring to an all time high nearing Rs 10,000 cr and even&nbsp;folios under retail schemes rose to a peak of Rs 8.95 crore.&nbsp;New fund offers (NFOs) continued to attract big money from retail investors and mobilised Rs 23,668 crore in August
Investors also poured in&nbsp;Rs.6,863 Crore in equity oriented NFOs&nbsp;. The overall Assets Under Management of MFs touched a new high of ₹36.59-lakh crore last month.&nbsp; There also seems to be 2-3 trends emerging out of the recent mutual fund investments by investors. The small-cap category has shown outflows while money seems to be moving into hybrid or balanced funds.&nbsp;The balanced advantage category continued saw net inflow worth Rs 16,570.97 crore last month and&nbsp;Flexi cap funds saw inflows of Rs 4,741 crore, followed by focused funds.

Who is really scripting the dissent that Invesco is voicing? That is the question Zee&nbsp;Subhash Chandra - Founder, Zee Entertainment Enterprises is asking as he makes a rare appearance as the Zee&nbsp;has a face-off with it's largest shareholder Invesco.&nbsp;

Twist in the Zee saga: Subash Chandra speaks out, asks who is scripting Inveso's dissent

Subhash Chandra makes a rare appearance as the Zee&nbsp;has a face-off with it's largest shareholder Invesco

Who is really scripting the dissent that Invesco is voicing? That is the question Zee&nbsp;Subhash Chandra - Founder, Zee Entertainment Enterprises is asking as he makes a rare appearance as the Zee&nbsp;has a face-off with it's largest shareholder Invesco.&nbsp; He pointed out that some media reports are 'falsely citing'&nbsp;Invesco's version to take on ZEEL MD &amp; CEO Punit Goenka. "These reports have failed terribly in their mala fide attempt to malign the image of esteemed organisation - ZEEL and its MD &amp; CEO Punit Goenka," Subhash&nbsp;Chandra said.
Also Watch:&nbsp;<a href="1631678275337" target="_blank">Zee Entertainment: Rakesh Jhunjhunwala buys 50,00,000 shares; BofA bets too</a>
US-based Invesco, on September 30, had moved a petition seeking convening of the EGM, removing the company's Chief Executive and Managing Director Punit Goenka as well as two other directors, and reconstituting the board with the appointment of six new directors.
The Board of Directors of ZEE Entertainment&nbsp;in its board meeting held on September 21, 2021, had unanimously provided in-principle approval for the merger between Sony Pictures Networks India and ZEE.

Tata Consultancy Services (TCS) shareholders lost over Rs 1 lakh crore in a few minutes as the tech giant saw stock falling over 6 percent due to a miss on earnings. 

TCS takes a knock? Profit booking or weak outlook, here is what brokerages are saying

TCS takes a knock, investor wealth drops Rs 1 lakh crore in few minutes but is it a buying opportunity for those who missed the roaring 45% rally in this tech counter?

TCS stock down 6% after 44% rise in on year

Tata's tech titan fell the most in over a year as earnings disappointed the street.&nbsp;

Tata&nbsp;Consultancy Services (TCS) shareholders lost over Rs 1 lakh crore&nbsp;in a few minutes as the tech giant saw stock falling over 6 percent due to a miss on earnings.&nbsp;
The IT major failed the quarterly earning on multiple&nbsp;fronts from top-line growth to margins. <a href="https://www.editorji.com/story/tcs-q1-earnings-second-wave-hits-india-biz-milestone-hiring-what-to-do-with-the-stock-now-1625800403688" target="_blank">TCS&nbsp;</a>reported a 14% y-o-y growth in its September quarter profits. While revenue grew 16.8% to Rs 46,867 crore. Both which missed market estimates. Read/Watch Also: <a href="https://www.editorji.com/business-news/ril-goes-greener-mukesh-ambani-s-hectic-weekend-of-acquisitions-1633919712189">RIL&nbsp;adds more green to kitty</a> TCS' attrition rate increased to 11.9% from 8.6% in the June quarter, and the high attrition levels are likely to continue for the next two-to-three quarters, as per the IT giant's chief human resources officer.
<h3>Brokerage calls on Tata Consultancy Services(TCS):&nbsp;</h3>
<ul>
<li>UBS:&nbsp;Expect the stock to consolidate here with a slight downward bias and if the second half slows further, there may be a risk to FY23 consensus revenue forecasts. </li>
<li>ICICI&nbsp;Securities: Expect&nbsp;revenue growth to decelerate to 9% CAGR over FY22-24. It also says&nbsp;EBIT margin may fall below 24% for the first time in a decade in FY23. </li>
<li>Motilal&nbsp;Oswal: Miss on estimates in Q1FY22, coupled with a soft margin outlook, can result in near-term pressure on the stock. The brokerage has a target price of Rs 3,770 per share and a neutral rating.</li>
</ul>

US markets soared to a record high as the inflation report was not as bad as the street was estimating. The moderate inflation reading gave support to the market that the Fed will continue it's easy money policy.&nbsp;July&rsquo;s Consumer Price Index&nbsp;released Wednesday showed prices jumped 5.4% which was in line with expectations but the relief came from Core inflation.&nbsp;CPI, excluding energy and food prices, rose by 0.3% last month, below the 0.4% increase expected.&nbsp;The inflation numbers backes&nbsp;the Federal Reserve&rsquo;s&nbsp;commentary that high price pressures are &ldquo;transitory&rdquo; as the economy recovers from the covid&nbsp;recession.&nbsp;The 30-stock Dow gained 220 points to close at a record high of 35,484.Read/Watch Also: India Inflation numbers today, will easing continue for a second month?

US shakes of Inflation concern as markets hit record high, Will India follow script?

US Markets at record high as inflation reading eases concerns; , Will India follow script?&nbsp; #CPI&nbsp;also please #inflation

US Markets at record high

<h1 class="ArticleHeader-headline">30 stock Dow rises 220 points to new record</h1>

US markets soared to a record high as the inflation report was not as bad as the street was estimating. The moderate inflation reading gave support to the market that the Fed will continue it's easy money policy.&nbsp; July&rsquo;s Consumer Price Index&nbsp;released Wednesday showed prices jumped 5.4% which was in line with expectations but the relief came from Core inflation.&nbsp;CPI, excluding energy and food prices, rose by 0.3% last month, below the 0.4% increase expected.&nbsp;The inflation numbers backes&nbsp;the Federal Reserve&rsquo;s&nbsp;commentary that high price pressures are &ldquo;transitory&rdquo; as the economy recovers from the covid&nbsp;recession.&nbsp; The 30-stock Dow gained 220 points to close at a record high of 35,484. Read/Watch Also: India Inflation numbers today, will easing continue for a second month?

Business

Firecracker stock story! This bet gave investors 1500% return

14th increase in last 20 days: Petrol, diesel prices hiked again!

Reliance brands to acquire 40% stake in Manish Malhotra's designer label

Mukesh Ambani's green shopping bag has two new investments ... again

Mukesh Ambani now worth over 100 billion dollars! Just one rank below Warren Buffet in rich list

Sold out in seconds! Manish Malhotra becomes India's 1st designer to drop NFTs

Now, you can pay for your pickles with cryptocurrency

Personal Finance

Pink Tax: The extra price you pay for being a woman!

Navratri 2021: Gold prices down to near 6 month lows, are you adding glitter to the shopping list?

Home loan rate cut, Kotak Mahindra Bank cuts rates to lowest in 10 years

Income tax refund will be credited only if you complete these tasks

Taxing times: GST rate likely to be raised, categories to be reduced: reports

Provident Fund account to be split into two; taxable and non-taxable

Redemptions lead to a 50% drop in equity flows for mutual funds, Where is the money moving?

Cryptocurrency

Crypto Corner: Missed Bitcoin? No worries, here are 5 affordable cryptos you can invest in

This crypto up over 220% in one week, 10x of Bitcoin's gains!

India's crypto love; users on crypto exchange surpass the largest equity brokerage

China cracks down on crypto: Bans all crypto related activities

Crypto Corner: SBI halts UPI to crypto, WaxirZ feels the pain

Kim Kardashian warned by U.K. finance regulator for crypto promotion; strict regulation coming?

Pricey error: 24 million dollars in fees for a 100 million dollar deposit

Markets

Firecracker stock story! This bet gave investors 1500% return

Rakesh Jhunjhunwala backed firm raises Rs 300 cr, up 162% in 6 months

Sensex at 60,000: Bulls cheer on Dalal Street, Nifty eyes 18,000

Sensex at 60,000: Retail investors party hard as SIP investments top $1 billion

Twist in the Zee saga: Subash Chandra speaks out, asks who is scripting Inveso's dissent

TCS takes a knock? Profit booking or weak outlook, here is what brokerages are saying

US shakes of Inflation concern as markets hit record high, Will India follow script?

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