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Prime Minister <keyword id="6354477" type="General" weightage="20" keywordseo="Narendra-Modi" source="Orion">Narendra Modi</keyword>, on Tuesday, disclosed his total movable assets amounting to ₹3.02 crore as he submitted his nomination papers from the <keyword id="2169874" type="General" weightage="20" keywordseo="Varanasi-Lok-Sabha-constituency" source="Orion">Varanasi Lok Sabha constituency</keyword> for the third consecutive time.<br /><br />In his poll papers, <keyword id="2238662" type="General" weightage="100" keywordseo="PM-Modi" source="Orion">PM Modi</keyword> revealed that he does not possess a house, car, or any land.<br /><br />His total assets include a fixed deposit of ₹2.86 crore with the State Bank of India (SBI), ₹80,304 in two bank accounts in Gandhinagar and Varanasi, and ₹52,920 cash in hand. Additionally, he holds gold investments worth ₹2.67 lakh in the form of four gold rings.<br /><br />The Prime Minister has invested ₹9.12 lakh in National Savings Certificates, marking an increase of nearly ₹2 lakh since 2019. He has no outstanding loans and lists his sources of income as 'salary from government' and 'interest from bank'.<br /><br />Contrary to the common wisdom of not putting all your eggs in one basket, PM Modi’s asset allocation data shows nearly 95% of his assets being concentrated in fixed deposits. However, considering his position as the Prime Minister of India, him steering clear of  equity markets is understandable as it can lead to potential conflicts in decision-making.<br /><br />Among personal details, PM Modi stated that he holds an MA degree from Gujarat University and graduated from Delhi University in 1978. He passed the SSC exam from the Gujarat board in 1967.<br /><br />He declared Jashodaben as his wife in the nomination papers. However, her profession, occupation, and source of income were listed as 'not known'.<br /><br />The Prime Minister also affirmed that there are no pending criminal cases against him and he does not owe any government dues.<br /><br />Amidst much ceremony, PM Modi formally filed his nomination, seeking a third straight win from the Varanasi constituency. He will be contesting against Congress' UP unit president Ajay Rai.<br /><br />Before filing his nomination, PM Modi sought blessings at Kashi, took a holy dip in Ganga, performed rituals and Aarti at Dashashwamedh Ghat, and boarded MV Swami Vivekanand Ro-Ro vessel to reach Namo Ghat and the Kaal Bhairav temple. These rituals hold significance in Hindu mythology, believed to be essential before commencing any auspicious work.<br /><br /><em>(With inputs from The Times of India)</em><br />

95% of PM Modi’s assets are in fixed deposit! From investments to education, here are key takeaways from his nomination filing

Capital markets regulator <keyword id="20378396" type="General" weightage="20" keywordseo="Sebi-Chief" source="keywords">SEBI Chief</keyword> <keyword id="19922107" type="General" weightage="20" keywordseo="madhabi-puri-buch" source="keywords">Madhabi Puri Buch</keyword> on Monday refrained from commenting on the investment vehicle, <keyword id="20024284" type="General" weightage="20" keywordseo="real-estate-investment-trusts" source="keywords">Real Estate Investment Trusts</keyword> (REITs), saying if she comments on the subject, she will be accused of <keyword id="20339010" type="General" weightage="20" keywordseo="conflict-of-interest" source="keywords">conflict of interest</keyword>. The remarks came as US short-seller <keyword id="20016892" type="General" weightage="20" keywordseo="Hindenburg-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="Hindenburg Research" meta.hostid="261" meta.entityid="Hindenburg Research">Hindenburg Research</keyword> raised questions about a potential conflict of interest involving Buch and private equity major <keyword id="20144468" type="General" weightage="20" keywordseo="Blackstone" source="keywords" meta.keywordsubtype="org" meta.entityname="Blackstone" meta.hostid="261" meta.entityid="Blackstone">Blackstone</keyword>. <br /><br /> Her husband Dhaval Buch is a senior advisor with Blackstone, a major player in the <keyword id="20009947" type="General" weightage="100" keywordseo="REIT" source="keywords">REIT</keyword> space. However, the couple refuted the allegations. Also, Hindenburg alleged that SEBI's recent amendments to REIT regulations 2014 favoured a specific financial conglomerate, which the markets regulator denied. <br /><br /> Speaking at an event organised by industry body CII, Buch said," If I utter the word REITs, I am accused of conflict of interest". REITs are a new concept in the Indian market but have been a popular choice globally for their lucrative returns and capital appreciation. <br /><br /> A REIT is made up of a portfolio of commercial real estate assets, the majority of which are already leased out. <br /><br /> Meanwhile, the <keyword id="19895371" type="General" weightage="20" keywordseo="Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Congress" meta.hostid="261" meta.entityid="Congress">Congress</keyword> on Monday levelled fresh conflict of interest allegations against Buch and asked Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> to come clean as the head of the appointments committee of the cabinet on her appointment. At a press conference, the Congress alleged that since the current SEBI chairperson took office in 2017, she has not only been drawing a salary from SEBI but has also been holding an office of profit at the ICICI Bank, continuing to receive income from them to this very day. <br /><br /> SEBI didn't make any comment on the allegations made by the Congress. Last week, the SEBI Chief stated that there has been a positive response to small and medium REITS (real estate investment trusts) and industry players came forward for regulations on such entities.     <br /><br /> Recently, the Securities and Exchange Board of India (SEBI) implemented regulations for small and medium real estate investment trusts (SM REITS) aimed at significantly increasing investor interest in fractional ownership of real estate assets.

If I say anything on REITs, will get accused of conflict of interest, says SEBI Chief

<ul><li>No changes, or announcements for the old tax regime</li><li>FMlowered the tax burden by increasing the standard deductions in the new regime </li><li>Tax slabs also revised under the new regime</li></ul> <keyword id="7706673" type="General" weightage="20" keywordseo="Finance-Minister-Nirmala-Sitharaman" source="Orion">Finance Minister Nirmala Sitharaman</keyword> presented the Union <keyword id="18656923" type="General" weightage="20" keywordseo="budget-2024-25" source="Orion">Budget 2024-25</keyword> in the parliament recently, unveiling the Narendra Modi-led government’s budget for the fiscal year 2024-25. While the government announced some changes to direct taxation, including revised tax slabs for the new tax regime, most experts called the budget lackluster. <br /><br /> Nitin Chaudhary, Founder of NC Financial Advisory Services highlights his disappointment, noting that this Budget has actually been not at all impactful as it was expected to be. <br /><br />"It is more of a Budget for Coalition rather than any common man and tax payer. Neither there was any major drastic change in allocation as such and nor there was any major relief and tax benefits that was passed on to the tax payer.<br />There is a slight change in the tax slab rate owing to which there will be a very limited benefit to the tax payer in terms of tax outflow", continued Chaudhary.<br /> <br /><h2>Changes in new tax regime</h2>In a bid to make the new tax regime more lucrative, the FM proposed to hike the standard deduction limit to Rs 75,000 from earlier Rs 50,000, exclusively under the new tax regime. Similarly, the deduction available for family pension is also proposed to be increased from Rs 15,000 to Rs 25,000.<br /><br />More than two-thirds of taxpayers have availed of the new <keyword id="6354751" type="General" weightage="20" keywordseo="income-tax" source="Orion">Income Tax</keyword> regime, as per <keyword id="129243" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="Orion">Nirmala Sitharaman</keyword>. The FM announced a review of the comprehensive tax regime. Per FM, under the new regime, taxpayers will be able to save up to Rs 17,500 as taxes, annually.<br /><br />The government has revised the tax rate structure for the new regime, which are now as follows -<br /><br /><h2>New income tax slab rates</h2><br /><table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Income slabs<br /><br /></td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tax rate<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0 to 3L<br /><br /></td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nil<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 to 7L<br /><br /></td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7 to 10L<br /><br /></td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 to 12L<br /><br /></td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12 to 15L<br /><br /></td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Above 15L<br /><br /></td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30%<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Prior to the changes announced today, the new tax regime was structured as follows:<br /><br /><h2><table class="redcator-table-advance" style="border-width: initial; border-style: none; background-color: rgb(255, 255, 255); font-size: 16px; line-height: 1.6em; box-shadow: none; width: 850.594px; font-family: Merriweather; letter-spacing: 0.121826px; padding-bottom: 10px !important; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;"><tbody><tr><td style="border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">Income Slab (In Rs)</td><td style="border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">Tax Rate</td></tr><tr><td style="border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;"><strong>Up to 3,00,000</strong></td><td style="border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;"><strong>No Tax</strong></td></tr><tr><td style="border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;"><strong>3,00,001 - 6,00,000</strong></td><td style="border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;"><strong>5%</strong></td></tr><tr><td style="border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;"><strong>6,00,001 - 9,00,000<br /></strong></td><td style="border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;"><strong>10% (Tax Rebate up to Rs 7 lakh)</strong></td></tr><tr><td style="border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;"><strong>9,00,001 - 12,00,000</strong></td><td style="border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;"><strong>15%</strong></td></tr><tr><td class="se-table-selected-cell" style="border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;"><strong>12,00,001 - 15,00,000<br /></strong></td><td style="border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;"><strong>20%<br /></strong></td></tr><tr><td style="border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;"><strong>Above 15,00,000<br /></strong></td><td style="border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;"><strong>30%</strong></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br /></h2>Says T Manish, Research Analyst, SAMCO Securities, "FM announces revised tax rate under new tax regime, apart from the above slab revisions, the Standard deduction from 50,000 to 75,000 for individuals opting for new tax regime. This would result in savings of around Rs. 17500 in net taxes in the hands of individual. This would benefit directly to the companies in FMCG segment such as HUL, ITC, Dabur, Nestle and second order beneficiaries would be suppliers to these FMCG giants such as Polyplex, Uflex. Further, increased saving would also boost the inflow to wealth management (AMC’s)in the form of SIP's, and to Stock broking companies through brokerage".<br /><br /><h2>Capital gains simplified</h2>FM also moved to rationalise and simplify short-term capital gain (STCG) tax. Going ahead, STCG on specific financial assets will be charged at 20%, while the remaining financial and other non-financial assets will be charges as per applicable rates. This threshold was set at 15% previously.<br /><br />The long-term capital gains tax on financial and non financial assets was raised from its earlier threshold of 10% to 12.5%. However, the exemption limit under LTCG has been enhanced. This means that now, all long-term capital gains tax earned during the year to the tune of Rs 1,25,000 will be tax exempt. This limit was earlier set at Rs 1,00,000. Specified listed financial assets will be considered long-term provided they have been held for more than 12 months.<br /><br />As Anand Rathi, Co-founder of MIRA Money notes, the FM aims to send a clear message to the investors: avoid short term trading and leveraging. This is reflected in the increased security transaction taxes on futures and options,<br />which is a positive step. However, the increase in short term capital gains tax from 15% to 20% is a notable drawback for many traders.<br /><br />"Previously, if your capital gain was 2 lakh rupees, 1 lakh was exempted, and you had to pay 10% on the remaining 1 lakh, amounting to 10,000 rupees. Now, with the same 2 lakh rupees capital gain, you would pay<br />12.5% tax on the remaining 75,000 rupees after the exemption, which is beneficial", Rathi explained. <br /><br /><br />                        <div type="Article" hostid="261" msid="111946291" title="Union Budget 2024-25 key highlights: Angel tax to be scraped" mstype="2" mssubtype="0"></div><br /><h2>Higher tax on F&amp;O trading</h2>In a bid to stop fund inflows into speculative trading, the securities transaction tax (STT) on trading in futures and options was increased. While STT on options was increased from 0.062% to 0.1%, while the STT on futures was raised from 0.0125% to 0.02%. While this might seem as a  major setback to those trading in futures and options, experts opine that this is unlikely to significantly trading volumes in the segment. Note that this change is set to come into effect starting October 1, 2024. <br /><br />Says Deepak Ramaraju, Senior Fund Manager, Shriram AMC, "Hike in short-term capital gains and long-term capital gains have been sentimentally negative for the equity markets. This has resulted in short-term selling pressure. However, this can be the beginning of reforming the capital markets and curbing retail participation in the F&amp;O segment. We can expect more measures in the F&amp;O space in the days to come". <br /><br /><h2>Other tax changes</h2><ul><li>The TDS rate on e-commerce operators has been reduced from 1% to 0.1%</li><li>Angel tax, the tax levied on the capital raised via the issue of shares by unlisted companies has been abolished.</li><li>TDS payable on insurance commission reduced from 5% to 2%, starting 1st October, 2024.</li><li>TDS payable on rent paid over Rs 50,000 to be reduced from 5% to 2%. </li></ul><br /><strong>SEE ALSO:<br /></strong>        <br />          <div type="Article" hostid="261" msid="111953230" title="Union Budget 2024-25: Mobile Phones to get cheaper, as FM Nirmala Sitharaman reduces basic customs duty to 15%" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div>          <div type="Article" hostid="261" msid="111952160" title="Sitharaman announces cut in customs duty on gold, silver to 6%" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div><br />

Budget 2024-25: New tax regime sweetened by FM, hikes standard deduction to Rs 75,000

<keyword id="6358777" type="General" weightage="20" keywordseo="new-delhi" source="Orion">New Delhi</keyword>, Amid speculations on regulation or outright banning of <keyword id="6368079" type="General" weightage="20" keywordseo="crypto-assets" source="Orion">crypto assets</keyword>, Finance Minister <keyword id="129243" type="General" weightage="100" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> on Saturday said that that <keyword id="42981" type="General" weightage="20" keywordseo="g20" source="Orion">G20</keyword> will take call on it.<br /><br />"I don't want to get into the debate just now whether crypto will be regulated or banned. The G20 will take a call on that," she said when asked about the move to deal with it.<br /><br />"G20 countries have signed an agreement to collectively work to boost world bank's financing capacity. The G20 welcomed the IMF-FSB (Financial Stability Board) crypto synthesis paper, including the roadmap, that will support a coordinated and comprehensive policy and regulatory framework," she said.<br /><br />The Finance Minister was addressing a press conference along with Foreign Minister S Jaishankar and G20 Sherpa Amitabh Kant on the sidelines of the G20 summit.<br /><br />She said that FSB has focussed more on the crypto regulations, whereas IMF has emphasised on the macroeconomic implications of crypto assets.<br /><br />"The synthesis paper is something which the G20 membership will go through in detail. There's one more meeting, under our presidency for the finance track, in Marrakesh," <keyword id="679937" type="General" weightage="80" keywordseo="sitharaman" source="Orion">Sitharaman</keyword> said.<br /><br />G20 leaders have agreed to the discussions on the adoption of <keyword id="10038048" type="General" weightage="80" keywordseo="central-bank-digital-currencies" source="Orion">Central Bank Digital Currencies</keyword> (CBDCs), said the discussion paper on September 9.<br /><br />"We welcome discussions on the potential macro-financial implications arising from the introduction and adoption of Central Bank Digital Currencies (CBDCs), notably on cross-border payments as well as on the international monetary and financial system," said the G20 discussion paper.<br /><br />The G20 discussion paper further added that they welcome the BIS Innovation Hub (BISIH) Report on Lessons Learnt on CBDCs.<br /><br />"Look forward to the IMF Report on Potential macro-financial implications of widespread adoption of CBDCs to advance the discussion on this issue," said the G20 discussion paper.<br /><br /><b>SEE ALSO:<a href="https://www.businessinsider.in/politics/india/news/g20-leaders-summit-adopts-new-delhi-declaration/articleshow/103535369.cms" target="_blank"></a></b><br /><br /> <b><a href="https://www.businessinsider.in/politics/india/news/g20-leaders-summit-adopts-new-delhi-declaration/articleshow/103535369.cms" target="_blank">G20 Leaders Summit adopts New Delhi Declaration</a><a href="https://www.businessinsider.in/politics/india/news/g20-summit-pm-modi-announces-launch-of-global-biofuel-alliance/articleshow/103535675.cms" target="_blank"></a></b><br /><br /> <b><a href="https://www.businessinsider.in/politics/india/news/g20-summit-pm-modi-announces-launch-of-global-biofuel-alliance/articleshow/103535675.cms" target="_blank">G20 Summit: PM Modi announces launch of Global Biofuel Alliance</a><a href="https://www.businessinsider.in/entertainment/webstories/from-dream-girl-2-to-tootsie-epic-roles-which-saw-male-actors-crossdress/slidelist/103525812.cms" target="_blank"></a></b><br /><br /> <b><a href="https://www.businessinsider.in/entertainment/webstories/from-dream-girl-2-to-tootsie-epic-roles-which-saw-male-actors-crossdress/slidelist/103525812.cms" target="_blank">From Dream Girl 2 to Tootsie – Epic roles which saw male actors crossdress</a></b><br />

G20 to take call on crypto assets, says Nirmala Sitharaman

Union Finance Minister <keyword id="129243" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> on Thursday said that there was a greater acceptance among Group of 20 (G20) member countries that any new regulations on the crypto assets need to be globally coordinated.<br /><br />"I am glad to say that there is a greater acceptance among all G20 members, that any action on crypto assets will have to be global. "the G20, I think, has responded fairly with alacrity (on the crypto challenge)," Sitharaman told reporters at a news conference after a meeting of G20 finance ministers and central bank governors.<br /><br />"The G20 and its members agree that it's not going to be possible to have an independent, standalone country dealing with the crypto assets," the minister added.<br /><br />Sitharaman told reporters that the group has willingly responded to the issue. A "synthesis paper" would be taken up on matters related to crypto assets during India's G20 presidency.<br /><br />India has maintained it wants a collective global effort to deal with problems posed by cryptocurrencies such as bitcoin, and the finance ministry back in February said it had held a seminar for G20 member states to discuss how to come up with a common framework.<br /><br />Earlier in February, Sitharaman had said, "We are going through the study process so that there can be informed discussion. International Monetary Fund (IMF) and also the Financial Stability Board (FSB) have been doing their own little work on the crypto matter and progressing on their own. We've now asked them to do the papers and give it to us and the rapidity with which these papers have been already from IMF given and from FSB which will be given in time for the July meeting. I feel that we are progressing in this direction. So something should develop."<br /><br />She made the remarks while responding to a question regarding a consensus among the G20 nations on crypto assets during India's Presidency.<br /><br />"Recognising the risks attached to the private virtual assets, G20 nations moved a step closer to developing a coordinated and comprehensive policy approach to deal with the crypto assets by considering macroeconomic and regulatory perspectives," she said.<br /><br />The Central government led by Prime Minister Narendra Modi has for several years debated drafting a law to regulate or even ban cryptocurrencies but has not made a final decision. The Reserve Bank of India has said that cryptocurrencies should be banned as they are akin to a Ponzi scheme. <br /><br /><strong>SEE ALSO:<br /><br /> <a href="https://www.businessinsider.in/business/auto/news/ather-finally-focuses-on-affordable-electric-scooters-after-losing-its-lead-to-ola-electric-and-tvs-motor/articleshow/99456189.cms">Ather finally focuses on affordable electric scooters after losing its lead to Ola Electric and TVS Motor</a><br /><br /> <a href="https://www.businessinsider.in/tech/news/17-of-people-store-financial-information-on-their-smartphones/articleshow/99426637.cms">Despite a rise in financial frauds, 17% of people store financial information on their smartphones</a><br /><br /> </strong><a href="https://www.businessinsider.in/tech/news/most-common-passwords-can-be-easily-cracked-by-ai-in-under-a-minute/articleshow/99379900.cms"><strong>AI chatbots are cracking the code: How PassGAN can break into 51% of common passwords in under a minute</strong></a><br />

Any action on crypto assets will have to be global: FM Nirmala Sitharaman

<br /><ul><li>There is no law in India that states that the wife should get a certain percent of their husband's income or wealth as <keyword id="6406198" type="General" weightage="20" keywordseo="alimony" source="Orion">alimony</keyword>. </li><li>Actual settlement amount depends on the lawyer, the income of the husband and number of dependents, among other factors. </li><li>If there is accusation of mental cruelty or domestic physical violence against the husband, those will have to be tested before the court. </li></ul>In the process of reaching an agreement following their divorce, Nawaz Modi Singhania, 53, the separated spouse of billionaire industrialist Gautam Singhania, has reportedly requested 75% of his purported $1.4 billion fortune for herself and their two daughters.<br /><br />When Bollywood star Hrtithik Roshan and Sussanne Khan divorced in 2013, she had reportedly demanded ₹400 crore as alimony. It was later settled at ₹100 crore, though not confirmed. <br /><br />High-profile divorce cases make headlines, and when industrialists are involved they may also affect share prices. But when a divorce happens and the wife makes an alimony claim, how do things pan out? <br /><br />"The court will look at the education levels of the person and their ability to be employed while deciding alimony. It's very unlikely that somebody will get 75% of the assets," said Delhi-based corporate lawyer Anuroop Omkar, founding partner of law firm AK &amp; Partners.<br /><br /><strong>There is no law on settlement percentage</strong><br /><br />There is no rule in India which says that you have to give so and so percent to your wife as alimony. <br /><br />“It depends on a number of factors. One of them is what is your strategy to get the money- what is the lawyer’s strategy, what are arguments, what is your lawyer’s research. This happens because there is no set rule,” says Vandana Shah, a divorce lawyer. <br /><br />So the actual settlement amount depends on the lawyer, the income of the husband,what the wife is earning and depends on what comes out in court. It also depends on the number of dependents. <br /><br />In the Rajnesh vs Neha divorce case, a few years ago, the court ruled that there's no fixed formula to determine the amount of maintenance to be granted. The awarded maintenance should be fair and practical, ensuring that it enables the wife to sustain herself comfortably and reasonably. The adequacy of the sum should be assessed based on the wife's ability to maintain herself with a reasonable standard of living.<br /><br />“Since November 2020, as per Rajnesh V/s Neha as per the Supreme Court guidelines, every wife who makes a claim for maintenance,makes an application in the prescribed format which - includes the financials of the wife, her monthly expenses, investments, properties she owns and so on. The husband is also expected to file his application with his financials in the format prescribed by the Supreme Court,” says S<a href="https://www.linkedin.com/in/sandhya-vasudevan-sondhi-1099215/overlay/about-this-profile/">andhya Vasudevan Sondhi</a>, founder, SVS Legal, a Mumbai-based boutique law firm that handles family matters. <br /><br /><strong>Outside court settlement</strong> <br /><br />It is advised that such separation issues be amicably dealt with. Especially in the case of the Singhanias, there will be allegations and counter allegations by both the parties, especially since the tenure of marriage is long. <br /><br />“Looking at the gravity of the whole situation and looking at the children and the long tenure of marriage, if both the parties talk it out and settle the matter, it could be wonderfully handled. If a divorce can be done in a mutual way, it works in the best interest of both the parties, the children and also the respective families,” says Advocate Siddhartha Shah , a divorce lawyer. <br /><br />The law thus provides a solution to this. Section 28 of the special marriage act, talks about of divorce by mutual consent. <br /><br />“If there are unreasonable claims, then one of the parties may not agree. Then the court will have to look at each and every aspect of the accusations and then the court will have to weigh it according to the primary and secondary evidence that is produced before the court,” says Shah. <br /><br />It is noteworthy that if there is accusation of mental cruelty or domestic physical violence against the husband, that will have to be tested before the court. Then the case goes to trial and that can become a time consuming process.<br />

High profile divorces are stories of claims and counterclaims best settled outside court

<keyword id="6355261" type="General" weightage="60" keywordseo="finance-minister" source="Orion">Finance Minister</keyword> <keyword id="129243" type="General" weightage="70" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> on Friday said businesses will have to factor in the impact of global terror while making investment decisions. Addressing the Kautilya Economic Conclave 2023, she said <keyword id="6358165" type="General" weightage="70" keywordseo="terrorism" source="Orion">terrorism</keyword> is impacting the entire globe and no region is spared. <br /><br /> With that level of risk or uncertainty coming into business decision-making, investments will face uncertainty and high risk permanently, she said. <br /><br /> "Businesses can no longer be just attracted by policies or by the openness of an economy. The risk that investors and businesses will have to factor into their decision-making is going to be strongly influenced by the impact of global terror," she said. <br /><br /> On globalisation, she said there is pessimism about it. "Who is grouping with whom, who has left the Group and who and who is remaining outside of all these groups or forming new groups. So re-globalisation but with different shades and colour and flavour," she said. <br /><br /> On climate finance, Sitharaman said India used its own resources to fulfill its Nationally Determined Commitments (NDCs) as outlined in the Paris Agreement under the leadership of Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>. <br /><br /> Anyone suggesting that this should be an obvious course of action must also consider that developing countries may not have the financial capacity for such significant climate financing, she said. <br /><br /> "Consider a country like India, where developmental goals and aspirations are being achieved at an unprecedented pace and where a significant portion of the population still requires support. The question arises: Where will the necessary funds come from?," she questioned. <br /><br /> With regard to energy transition, she said the world does not have an answer to this. <br /><br /> "There is an urgent need for us to sit up and see what this climate action is going to be if you have no clue on where this transition energy is going to come from," she said. <br /><br /> Speaking about G20 India presidency, Sitharaman said, the agenda of the Finance Track was chosen on considerations having global implications. <br /><br /> Spelling out some of the agenda items of the Finance track, she said these included readying Multilateral Development Banks (MDBs) for the 21st Century challenges, regulating crypto assets, debt distress due to lack of timely action by international institutions. <br /><br /> Besides, funding of futuristic cities, success of India's Digital Public Infrastructure (DPI) and Two-Pillar solution on Taxation issues were also there. <br /><br /> Each one of the agenda points found a very good resonance in the G20 Presidency under India, she said. <br /><br /> To come up with a template to regulate crypto assets is one of the high points of India's presidency, she added. <br /><br /> Last week, finance ministers of the G20 nations called for swift and coordinated implementation of the G20 roadmap to deal with the issues related to crypto assets. <br /><br /> The G20 Roadmap on Crypto Assets adopted by the G20 Finance Ministers was spelt out in a Synthesis Paper prepared jointly by the International Monetary Fund (IMF) and Financial Stability Board (FSB). <br /><br /> It is a detailed and action-oriented roadmap that will help coordinate global policy as well as develop mitigating strategies and regulations on such assets while also taking into consideration the specific implications on Emerging Markets and Developing Economies (EMDEs). <br /><br /> Going forward, regular updates on the progress of the roadmap will be provided by the IMF and the FSB in G20 meetings.

Businesses need to factor in impact of terror while making investment decisions: FM

<ul><li>India plans to tax cryptocurrency transactions at a rate of 30%.</li><li>This is at par with the highest income tax slab applicable to individuals with an income in excess of ₹15 lakh per annum.</li><li>“The 30% rate of tax and restriction to set-off losses is a very bold move in discouraging transactions in crypto,” Ritesh Kumar, Partner at IndusLaw, told Business Insider.</li></ul>India may not have any laws to govern cryptocurrencies yet, but it doesn’t want to miss out on the gold rush. <br /><br />Finance Minister Nirmala Sitharaman announced that the country will be taxing all digital assets at a rate of 30% — no deductions or exemptions apply. This includes everything from cryptocurrencies to non-fungible tokens (NFTs) to other ways that people earn from digital assets, like yielding, farming and mining.<br />            <div type="ExtQuote" text="“Cryptocurrencies will be taxed at 30%. Any Income from the transfer of any virtual digital asset shall be taxed at 30%. No deductions and exemptions allowed. Loss from transfer of such assets cannot be set off against any other income.”" auname="Finance Minister Nirmala Sitharaman during the Union Budget 2022-23"></div><br />As compared to the conventional tax slabs, 30% is the <a href="https://stocktwits.com/Bush2000/message/432215643">highest tax bracket</a> applicable to individuals with an annual income of more than ₹15 lakh.<br />    <div type="image" title="Crypto tax ST post" msid="89278516" hostid="261"></div><br />Moreover, gifts of virtual assets shall also be taxed for the recipient. And, tax deducted at source (TDS) will be imposed on payments for the transfer of crypto assets at a rate of 1% for transactions over a certain threshold. However, Sitharaman did not specify what this ‘threshold’ will be.<br /><br />“Virtual digital assets, including a specific tax regime for virtual digital assets, such as crypto, while providing clarity is not in line with what the industry was expecting. The 30% rate of tax and restriction to set-off losses is a very bold move in discouraging transactions in crypto,” Ritesh Kumar, Partner at IndusLaw, told Business Insider.<br /><cmsannotation type="cmsannotation" annotationid="Many things remain uncertain" comment="subhead" text="Many things remain uncertain"><span data-til="noop">Many things remain uncertain<br /></span></cmsannotation>The budget also made way for the ‘digital rupee’ — a central bank digital currency (CBDC) that will be run by the Reserve Bank of India (RBI). In the post-budget press conference, Nirmala clarified that the CBDC will treated as a currency while all other cryptocurrencies will be treated, which are not controlled by the RBI, will be taxed at 30%.<br /><br />“This [tax rate] clears the air on taxes for cryptos, however, there are several types of incomes people earn from cryptos and hopefully more clarity will be available in the budget documents,” Archit Gupta, the chief executive (CEO) and founder of Clear (formerly ClearTax), told Business Insider.<br /><br />While many see the proposed tax on transfer of virtual digital assets as a step forward to remove some of the uncertainty in the market, the detailed guidelines will determine how the tax is actually implemented. <br /><br />“One would need to read the fine print, especially the definition of virtual digital assets, to understand the exact implications of the announcement. In absence of law regulating trading in crypto and digital assets, this is a step forward by the government of India,” said Rajat Prakash, the managing partner at Athena Legal.<br /><cmsannotation type="cmsannotation" annotationid="Crypto investors will no longer have the option of capital gains" comment="subhead" text="Crypto investors will no longer have the option of capital gains"><span data-til="noop">Crypto investors will no longer have the option of capital gains</span></cmsannotation><br />India was set to release its cryptocurrency bill during the Winter Session of Parliament, but it never made it into the house. According to Sitharaman, at the time, the bill was pending approval by the Cabinet — the highest decision-making body of the Indian government headed by Prime Minister Narendra Modi. <br /><br />“We do hope that the Government will give exchanges and other businesses a certain time period to enable the tech behind TDS deduction and bookkeeping. Offsetting and carrying forward losses have worked well in other countries but we are happy to see a consideration given to all such instances,” Vikram Subburaj, the CEO of Giottus Crypto Exchange, told Business Insider.<br /><br />Until now, as per the stand income tax rules, the gains on crypto transactions, fell either under ‘business income’ or ‘capital gains’, according to tax experts. The classification depended on the nature of the transactions and the tenure across which they took place.<br /><br />For instance, cryptocurrency transactions would be taxed as ‘capital gains’ if they are held with longer-term appreciation in value with fewer trades. Holding for less than three years would attract whichever rate is applicable under the prescribed brackets, and holding for more than three years would attract a 20% rate.<br /><br />Overall, however, the industry seems to welcome the move since it gives the crypto space a layer of legitimacy. "It gives much-needed clarity and confidence to the industry," said CoinDCX CEO and co-founder Sumit Gupta. <br /><br />"It’s a huge relief to see that our government is adopting the progressive stance of going ahead in the direction of innovation. By bringing in taxation, the government legitimises the industry to a large extent. The majority of people, especially corporates, who have been sitting on the sidelines because of uncertainties will now be able to participate in crypto," echoed WazirX's founder and CEO Nischal Shetty.<br /><br /><strong>SEE ALSO:</strong><br /> <a href="https://www.businessinsider.in/budget/news/digital-rupee-to-be-introduced-by-the-rbi-confirms-fm-nirmala-sitharaman-speech/articleshow/89268343.cms">Blockchain-based e-Rupee will be a reality before March 2023 confirms Finance Minister Nirmala Sitharaman</a><br /><a href="https://www.businessinsider.in/budget/news/from-new-updated-it-return-to-surcharge-on-ltcg-at-15-here-are-the-personal-finance-highlights-from-budget-2022/articleshow/89268183.cms">From new updated IT return to surcharge on LTCG at 15%, here are the personal finance highlights from Budget 2022</a><br /><a href="https://www.businessinsider.in/budget/news/indias-defence-budget-lays-out-more-money-for-local-contracts/articleshow/89267605.cms">India’s defence budget lays out more money for local contracts, a new independent approval body and leaves a quarter for R&amp;D</a><br />

From cryptocurrencies to NFTs, India to tax all ‘virtual digital’ assets at 30%

<strong><br /></strong><ul><li><strong><keyword id="571991" type="ORGANIZATION" weightage="20" keywordseo="Nirav-Modi">Nirav Modi</keyword>’s collection of most expensive paintings and rare watches was sold for over $7 million. <br /></strong></li><li><strong>Ever since Modi escaped the country in 2018 a few days after the $2 billion Punjab National Bank scam broke, the Enforcement Directorate has been trying to recover money. <br /></strong></li><li><strong>To get the right value, <keyword id="12163" type="COMPANY" weightage="20" keywordseo="Ed">ED</keyword> approached Saffronart — one of the leading auction houses in the world — to sell at least 40 pieces. <br /></strong></li></ul>Diamond trader and fugitive Nirav Modi might have fled without paying up his dues, but the extensive art collection he left behind -- did a part of the job. <br /><br />Ever since Modi escaped the country in 2018 a few days after the $2 billion Punjab National Bank scam broke, the  Enforcement Directorate has been trying to recover money <a href="https://www.scmp.com/business/companies/article/3050485/nirav-modi-punjab-national-bank-scandal-rolls-royce-and-rise">attaching assets his worth $1 billion.</a> <br /><br />To get the right value, ED approached Saffronart — one of the leading auction houses in the world — to sell at least 40 pieces. It includes a painting by M F Hussain, a luxurious 2010 Rolls Royce Car, designer handbags and luxury watches.  Last year, Saffronart auctioned a cache of Indian and Chinese artwork to raise $8 million for the Income Tax department. <br /><strong><br />Here’s a look at some of the rare assets that went under hammer for $7 million:</strong><br /><br />
	
	
	
	
	<div type="Slideshow" msid="74505046" hostid="261" title="Here’s a look at Nirav Modi’s paintings, rare watches and Rolls Royce that helped recover some of his dues" firstImageMsid="74505167" slideCount="7"></div>











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Here’s a look at Nirav Modi’s paintings, rare watches and Rolls Royce that helped recover some of his dues

<ul><li>The Securities and Exchange Board of India (<keyword id="35210" type="General" weightage="20" keywordseo="SEBI" source="Orion">SEBI</keyword>) has warned <keyword id="6357979" type="General" weightage="20" keywordseo="mutual-funds" source="Orion">mutual funds</keyword> to hold off from launching any crypto-centred offerings until regulations come in.</li><li>India’s cryptocurrency bill was supposed to be discussed during the previous session of Parliament earlier this month, but did not make it to the table.</li><li>Invesco Mutual Fund has already delayed the launch of its crypto-based exchange-traded fund (ETF) and Navi Mutual Fund’s application is still pending approval from SEBI.<br /></li></ul>India’s market watchdog, the Securities and Exchange Board of India (SEBI), wants mutual funds to wait it out before coming up with new fund offers (NFOs) based on <keyword id="6368079" type="General" weightage="20" keywordseo="crypto-assets" source="Orion">crypto assets</keyword>. <br /><br />According to SEBI Chairman Ajay Tyagi, mutual funds should not be making such investments until there’s a law in place to regulate the industry. <br /><br />And, as things stand, India’s Cryptocurrency and Regulation of Official Digital Currency Bill (2021) is still pending approval from the Cabinet — the highest decision making authority in the country led by the Prime Minister, Narendra Modi.<br /><br />“It is prudent for regulated entities with public markets exposure or focus, or any form of public solicitation, to wait for additional clarity regarding the legality or definition of digital assets as assets or securities or commodities in India,” Nitin Sharma, partner at Antler India and blockchain lead for Antler Global, told Business Insider.<br /><cmsannotation type="cmsannotation" annotationid="Caught in limbo" comment="subhead" text="Caught in limbo"><span data-til="noop">Caught in limbo</span></cmsannotation><br />The warning from SEBI comes after asset management company Invesco Mutual Fund <a href="https://www.invescomutualfund.com/docs/default-source/default-document-library/press-release---blockchain.pdf?sfvrsn=80e88ac2_0">delayed</a> the launch of its blockchain fund — the first of its kind in India — due to legislative uncertainty, even though they already have the green stamp from SEBI. <br /><br />“A lot of HNIs, family offices and retail investors will be drawn to such options because they are more comfortable with indirect exposure right now, even at a cost, versus dealing directly with digital assets,” said Sharma.<br /><br />Invesco isn’t the only mutual fund in India wanting to dip its two in the crypto space. Earlier this month, Navi Mutual Fund also filed a draft with SEBI for a Blockchain Index Fund of Funds (FoF), which will track the IndxxBlockchain Index. <br /><br />The IndxxBlockchain Index, however, index doesn’t track crypto assets directly. Instead, it tracks mainstream companies like Nvidia, Advanced Micro Devices and others that have some crypto activity. The index also includes Indian IT giants like Infosys, Wipro, and TCS.<br /><br />“As and when this space matures, we can definitely expect multiple mutual fund houses coming up with Blockchain specific funds. These funds do not necessarily need to have direct exposure in crypto,” Edul Patel, the CEO and co-founder of Mudrex, told Business Insider.<br /><br /><strong>SEE ALSO:</strong><br /><a href="https://www.businessinsider.in/cryptocurrency/news/bitcoin-ethereum-shiba-inu-rake-up-losses-with-the-crypto-dip-showing-no-signs-of-slowing-down/slidelist/88557375.cms">Bitcoin, Ethereum, Shiba Inu rake up losses with the crypto dip showing no signs of slowing down</a><br /><a href="https://www.businessinsider.in/cryptocurrency/news/dogecoins-co-creator-now-owns-just-40000-of-the-meme-token-and-says-he-has-nothing-to-do-with-it-anymore/articleshow/88551122.cms">Dogecoin's co-creator now owns just $40,000 of the meme token -- and says he has nothing to do with it anymore</a><br />

India’s market watchdog warns mutual funds to stay away from crypto assets at least until regulations come in

<ul><li>As much as ₹3.62 lakh crore of bank notes exist in the form of ₹2,000 currency notes, says <keyword id="30067" type="General" weightage="20" keywordseo="RBI" source="Orion">RBI</keyword>.</li><li>Of this, as much as ₹1.5-2 lakh crore is expected to make its way to banks as it’s being taken off circulation.</li><li>Since ₹2,000 currency note is still legal tender, a few people might even invest in <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">real estate</keyword>, gold, consumer durables and more, say analysts.</li></ul>Indian central bank’s move to withdraw ₹2,000 currency notes from circulation, will help banks, say analysts as it will aid deposit growth and improve system liquidity. <br /><br />The Reserve Bank of India (RBI) on Friday said that it intends to pull ₹2,000 banknotes from circulation, and gave people four months to either exchange or deposit them at banks. <br /><br />“Bank Nifty is likely to gain more traction since the ₹2,000 note withdrawal is positive for banks. It will add to the deposits of banks and increase their CASA thereby boosting their bottom line,” said Dr V K Vijayakumar, chief investment strategist at Geojit Financial Services. <br /><br />C<a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/fy23-loan-growth-at-11-year-high-despite-steep-hike-in-lending-rates/articleshow/99359415.cms">redit growth has been outpacing deposit </a>growth for many quarters now. In FY23, outstanding deposit growth stood at 9.6% while outstanding credit growth stood at 14.6%. In these times, a flood of deposits will help banks. <br /><br /><strong>How much can come from ₹2,000 notes <br /></strong>The ₹2,000 notes were introduced in 2017, after the Government of India went in for demonetization of ₹500 and ₹1,000 notes in November 2016. These notes have <a href="https://www.businessinsider.in/finance/news/no-need-to-rush-to-banks-as-theres-4-months-time-says-rbi-governor-on-pulling-2000-notes-off-circulation/articleshow/100412638.cms">served their purpose</a>, said RBI governor Shaktikanta Das in a statement on Monday, and assured people not to rush to banks. <br /><br />According to RBI, the total value of ₹2,000 banknotes in circulation was ₹6.73 lakh crore at its peak as on March 31, 2018. That’s 37.3% of total notes in circulation. It has dwindled to ₹3.62 lakh crore— and now constitute only 10.8% of notes in circulation as on March 31, 2023. <br /><br />Of this amount, Kotak Institutional Equities expects as much as ₹1.5-2 lakh crore to make its way into banks as deposits. <br /><br />“On a net basis, it is likely that deposits will increase by ₹1.5-2 lakh crore. Durable liquidity could increase by around ₹1 lakh crore depending on behaviour of depositors. This should ease the credit-deposit ratio across banks,” said a report by Kotak Institutional Equities. <br /><br />Further, analysts believe instead of depositing notes in banks people may spend these in buying assets like gold, durables or even real estate property. This money too will indirectly make its way into banks.<br /><br />“With the bank note remaining a legal tender, unlike demonetization, consumption could see a boost. In fact, notes which are not deposited by individuals (undisclosed income, deposits above certain limits, etc.) could move to high-value spends such as gold and jewelry, high-end consumer durables, and real estate (which then reaches <keyword id="6409502" type="General" weightage="20" keywordseo="bank-deposits" source="Orion">bank deposits</keyword>),” added the Kotak report.<br /><br />Besides, some experts say that the rise in deposits may urge the central bank to pause any further hike in interest rates as inflation eases too. A report by Emkay Global says that the deposit surge will ease the current tight liquidity conditions, even if the eventual net deposits remaining with the banking system may be far lower than those seen during demonetization in 2016. <br /><br />As much as ₹1.1 lakh crore was deposited into bank accounts after demonetization in 2016, adjusting for business as usual or BAU during the same period in FY15-16. <br /><br />“Some bankers believe incremental deposit build-up may also largely stall any further deposit rate hikes, while it may also precipitate rate roll-down amid increasing signs of early policy rate easing as the inflation trajectory moderates,” said a report by Emkay Global. <br /><br />SEE ALSO: <a href="https://www.businessinsider.in/finance/news/2000-note-withdrawal-how-to-exchange-notes-is-it-a-legal-tender-and-other-questions-answered/articleshow/100412941.cms">₹2,000 note withdrawal – How to exchange them, is it a legal tender and other questions answered<br /></a><a href="https://www.businessinsider.in/finance/news/no-need-to-rush-to-banks-as-theres-4-months-time-says-rbi-governor-on-pulling-2000-notes-off-circulation/articleshow/100412638.cms">No need to rush to banks as there’s 4 months time says RBI governor on pulling ₹2,000 notes off circulation</a><br />

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