Close hdfc bank account online

Private sector insurer HDFC Life Insurance has set an ambitious target of more than doubling its embedded value to Rs 60,000 crore in the next five years, buoyed by a similar feat achieved during the past five years. The HDFC group company has also set a target of doubling its Assets Under Management (AUM) to Rs 4 lakh crore from the present Rs 2 lakh crore during the same time period. The company closed FY22 with embedded value at Rs 30,000 crore, up from Rs 26,617 crore in FY21, and an AUM of Rs 2.04 lakh crore which was 17 per cent higher than the preceding financial year. The Embedded Value (EV) — a key measure of growth and profitability of a life insurer — is determined by the present value of the firm’s future profit plus adjusted net asset value. HDFC Life’s EV was Rs 10,200 crore in FY16, which rose to Rs 12,500 crore next year, Rs 15,200 crore in FY18, Rs 20,700 crore in FY20 and Rs 26,617 crore in FY21. Close This shows that the company’s EV has … [Read more...] about HDFC Life aims to more than double its embedded value to Rs 60,000 crore by FY27

- A + A NEW YORK (May 19): Last fall, on the advice of a friend, Odosa Iyamuosa invested his life savings of US$4,000 in a cryptocurrency called Luna. The 28-year-old, who lives in Abuja, Nigeria, researched the coin himself online, and what he found seemed promising. Luna’s price was soaring, thanks to the success of another coin with which it was deeply intertwined, TerraUSD. Some of the crypto industry’s biggest names had already invested, including Galaxy Digital Holdings Ltd, the high-frequency-trading firm Jump Trading, and venture investment arms of the exchanges Coinbase Global Inc and Binance. For Iyamuosa, it seemed like his best hope to get out of Abuja, where he says many jobs pay just US$2 a day, or less. He’d scraped together a little money selling knockoff Nike and Adidas sneakers to local buyers he found on Instagram. He wanted to increase his savings to US$16,000 and enroll in a data-analytics programme at a college in Toronto so he could get a job … [Read more...] about A US$60 bil crypto collapse reveals a new kind of bank run

Representational Image. Wholesale prices in India rose 15.1 percent in April from a year earlier, the most in three decades, increasing cost pressures on producers and likely affecting growth, economists said. Inflation as measured by the Wholesale Price Index was at the highest level on record in the current 2011-12 series. Prices of food, fuel and manufacturing registered an exponential spike in April, with the sharpest increases in fuel and power prices. While WPI has risen considerably since 2015, the 13 percent jump between FY21 and FY22 was the highest. Global factors Close The index is dominated by manufactured products, which have a weight of 64 percent and are influenced significantly by global factors such as the pandemic and geopolitical tensions. Consequently, an increase in global prices gets reflected more in the WPI, according to economists. “The key factors behind the increase in the WPI are elevated global commodity prices and … [Read more...] about Wholesale price increases can threaten growth recovery, say economists

Speciality chemicals company Aether Industries Ltd has set a price band of Rs 610-642 a share for initial public offering. Earlier, the firm said its IPO will open on May 24 for subscription and close on May 26. The basis of allotment expected on May 31, credit of shares expected on Jun 2 and the firm may be listed on exchanges on June 3. The IPO consists of a fresh issue of Rs 627 crore and an offer-for-sale of up to 2.82 million shares by its existing shareholders and promoters. On the upper end of the price band, the firm will raise around Rs 801 crore. The proceeds from the issue worth Rs 190 crore will be used to fund proposed greenfield projects in Surat. The firm will also use Rs 138 crore from proceeds to pay debts. The company will use Rs 165 crore for funding working capital requirements. Close HDFC Bank Ltd and Kotak Mahindra Capital Co Ltd are the lead managers to the issue. Aether Industries is a speciality chemicals manufacturer in India … [Read more...] about Aether Industries sets price band at Rs 610-642 a share for its IPO

A Japanese man has been arrested for gambling away his town's Covid funds (Representative Image) The money was supposed to be COVID-19 assistance for low-income households in a small Japanese town, but it was mistakenly wired to a bank account of a resident who refused to return it and spent most of it on online gambling, police said. Sho Taguchi, a 24-year-old jobless resident in the town of Abu in western Japan, was arrested on Wednesday, Yamaguchi prefectural police said. Police said Thursday he admitted to spending most of the 46.3 million yen ($360,000) of taxpayers money on gambling. According to Kyodo News agency, only 68,000 yen ($530) is left in his bank account after he withdrew the money 34 times in just over 10 days after the town made the mistake. He's being held on suspicion of computer fraud. Taguchi had allegedly refused the town request to return the money, police said. The funds were COVID-19 subsidies that were deposited into his bank account in … [Read more...] about Japanese man arrested for gambling away town’s Covid relief funds accidentally sent to him

India grew at the fastest pace of any major economy in the July-September quarter but economists said disruptions from the emerging Omicron coronavirus variant risked slowing the recovery, especially given India's low vaccination rates. Asia's third-largest economy has rebounded strongly from last year's deep pandemic-induced slump, boosted by vaccinations and stronger government spending, economists said. But new COVID-19 variants, a global slowdown and rising manufacturing prices all pose risks to growth. Gross domestic product expanded 8.4% in the September quarter from a year earlier, statistics ministry data showed on Tuesday, in line with 8.4% growth predicted in a Reuters poll and compared with a 20.1% expansion in the previous quarter. "Data clearly shows that corporate income and profit are above the pre-pandemic level," K.V. Subramanian, chief economist at the finance ministry told reporters after the data release. He said double-digit growth was expected in the … [Read more...] about India grows fastest among major economies, Omicron risks seen

Share to Twitter Share to Linkedin More Subprime Borrowers Are Missing Loan Payments Consumers with low credit scores are falling behind on payments for car loans, personal loans and credit cards, a sign that the healthiest consumer lending environment on record in the U.S. is coming to an end. The share of subprime credit cards and personal loans that are at least 60 days late is rising faster than normal, according to credit-reporting firm Equifax. In March, those delinquencies rose month over month for the eighth time in a row, nearing their pre-pandemic levels. [ The Wall Street Journal ] Mastercard Launches ‘Smile to Pay’ System Amid Privacy Concerns Mastercard is rolling out a controversial program that will allow shoppers to pay at the till with a mere smile or wave of the hand, as it tries to secure a slice of the $18 billion biometrics market . While face recognition technology has long raised eyebrows among civil rights groups, the … [Read more...] about This Week In Credit Card News: More Borrowers Missing Payments; Now You Can Pay With Your Smile

Share to Twitter Share to Linkedin Elodie Lamer and Nana Ama Sarfo of Tax Notes discuss the tax implications of golden visas and passports, which allow affluent foreigners to receive residency or citizenship in exchange for a minimum level of investment. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I'm David Stewart, editor in chief of Tax Notes Today International . This week: good as gold. The idea of immigration often conjures up black and white images of huddled masses on ships in New York Harbor. People seeking new opportunities to make their fortune. But what happens for people who've already made their fortune and don't have time to wait in line for the normal process? And what about the growing class of remote workers who don't need to be physically anywhere? This week, we're talking about golden passports with Tax Notes reporter Elodie Lamer and Tax Notes … [Read more...] about First-Class Tax Opportunities: Golden Visas And Passports

During the long course of my life in business, I've had the opportunity to meet some very wealthy people . For the most part, I've found that they're just like you and me--with the added bonus that their bank accounts make mine look like a teeny-tiny mosquito, or maybe a gnat. And there's one more thing I've noticed about people who are truly wealthy--they have a different way of looking at the world than most of us. It's this different way of perceiving the world that allows them to see opportunities and convert them into successful businesses that build wealth. Try these seven hacks of really wealthy people and see what they do for your bottom line. 1. They truly love what they do. The really wealthy never settle-- they go after what they really love in life and pursue a career in a field that means something to them. They live the advice, " Choose the career that you will be excited to get up for every morning ." And if there's not a … [Read more...] about Learn the 7 Life Hacks of Really Wealthy People

In first trades on listing, shares of the Life Insurance Corporation (LIC) of India traded at Rs 872 against issue price of Rs 949 . At this price, all investors — including policy holders, employees, and retail investors who got shares at a discount of Rs 40-60 per share — lost money. It would appear that someone started buying large quantities of LIC shares thereafter. It reached a high of almost Rs 919 per share. In the first 20 minutes, 20 million LIC shares, about 10 percent of IPO, got traded. Despite a firm market the entire day, LIC remained subdued trading at a near fixed price of Rs 875 for most of the day, and closed at Rs 875.25 . Soon we will know details of who sold and bought during the day. It looks quite likely that a good chunk of policy-holders, employees, and retail investors used this opportunity to exit. Was It Enough? Close LIC’s paid up equity capital is Rs 6,325 crore. The Government of India initially wanted to sell 5 percent of … [Read more...] about LIC | Will shares catch up with its true valuation?