Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul class="summary-list"><li>Avi Singh and Rishi Rajpal left their stable jobs to open a New York City cocktail bar in 2019.</li><li>They hired David Muhs as their head bartender.</li></ul>This as-told-to essay is based on a conversation with Avi Singh, 30, and Rishi Rajpal, 34, the co-owners of Sama Street, and David Muhs, 40, the head bartender at Sama Street. All three also own and operate another New York City cocktail bar, Monkey Thief.This conversation has been lightly edited for length and clarity.Avi: Rishi and I go way back. We grew up together in <a target="_blank" class="" href="https://www.businessinsider.com/visit-india-2016-3">New Delhi, India</a>. Our parents were friends.Fast forward to 2016, Rishi was living with my brother in New York City, and we reconnected.Rishi: After I graduated college, I worked in event management. Two years later, I pivoted and started working for a tech startup where I was leading <a target="_blank" class="" href="https://www.businessinsider.com/how-to-double-dip-work-two-jobs-2023-9">quality assurance.</a>I liked the creative aspect of getting to work with different companies. But my <a target="_blank" class="" href="https://www.businessinsider.com/tech-worker-left-job-opened-natural-wine-bar-brooklyn-2024-11">work was very monotonous</a>. It got boring. And I didn't like being behind a desk for 10 to 13 hours a day.Avi: I went to college at Emory in Atlanta. My peers were entering one of three fields: finance, marketing, or consulting. The thing that intrigued me most was consulting because of its <a target="_blank" class="" href="https://www.businessinsider.com/how-to-get-hired-top-consulting-firms-bcg-mckinsey-pwc-2024-7">problem-solving nature. </a>I took a job at a consulting firm that would allow me to move to New York City. Reality hit pretty quickly with regard to what you actually do as a business analyst at a consulting firm. It was 80 hours a week sitting on Excel and PowerPoint, building models, and putting together decks. I didn't feel like I got to see any of my work being implemented. I had a hunger to <a target="_blank" class="" href="https://www.businessinsider.com/six-figure-consulting-job-not-fulfilling-quit-start-business-2024-11">make more of an impact.</a>Rishi: When I reconnected with Avi, we were both in a position where we didn't know what we wanted to do with our lives. We didn't like where we were at. We didn't want to go through life like that, so we started talking about what would happen if we followed our dreams.<h2 id="891d925d-e92d-4743-9282-ab8459339509">We wanted to go into food and beverage</h2>Avi: Growing up in India, food was a big part of our social and familial interactions. That's where the love started.We knew how <a target="_blank" class="" href="https://www.businessinsider.com/restaurants-america-eating-out-crisis-your-fault-labor-shortage-tipping-2024-2">difficult the industry</a> was, but we were still fairly young, so we just said let's give it a shot. In the worst-case scenario, we can always come back to our desk jobs.Rishi: I started working as a dishwasher, busser, server, and then manager at an Indian restaurant to gain experience while we came up with our concept.Avi: It was definitely a risky move. Coming from Asian households, we were guided toward a more <a target="_blank" class="" href="https://www.businessinsider.com/modern-career-path-2018-7">traditional career path</a>. I had to present my dad with a full business plan and pitch the bar to him. But we had done our market research and knew we had a good idea.We wanted Sama Street to be based on our upbringing and experiences. We wanted a cocktail bar where we utilized ingredients in ways people might not be used to.<div type="image" title="A photo of the interior of Monkey Thief" height="5268" width="7898" msid="115385467" hostid="261" sizebytes="4338152"></div>There are some bars in New York where you don't necessarily feel welcome. Maybe you need to be dressed a certain way, or you're afraid to be loud with your friends. We wanted to create a space where, whether you're wearing sweatpants or coming in on a date night, you are welcome and treated equally.That's where the name comes from. Sama is from the Sanskrit word meaning true equality to all beings.We were looking for a head bartender and posted an ad on Craiglist. That's how we met David. He helped us realize our vision.David: I was working as a general manager at the time, but wanted to get back behind the bar. I saw the ad and skipped over it a few times because they seemed pretty green. But my wife convinced me to call them. We talked for an hour and a half and just clicked right away. We had all the same sort of ideas about hospitality.<h2 id="88091082-fd0e-4bc0-9939-3fbe42de37fc">We opened Sama Street in 2019</h2>David: We learned so much during that process. We <a target="_blank" class="" href="https://www.businessinsider.com/changes-restaurants-pandemic-qr-codes-self-service-kiosks-2024-10">survived the pandemic.</a>Avi: It was rough. We celebrated our one-year anniversary over FaceTime. But Sama Street is in Greenpoint, a very close-knit neighborhood, so our regulars showed up for us. The other bars and restaurants did, too. There was a lot of <a target="_blank" class="" href="https://www.businessinsider.com/what-its-like-to-eat-restaurant-outdoor-dining-nyc-pandemic-2020-6">local industry support.</a>We basically did everything that we were <a target="_blank" class="" href="https://www.businessinsider.com/new-york-restaurants-are-struggling-2020-12">legally able to do</a> to get as many people drinks and food during the lockdown.We're definitely still feeling the ripples of COVID, but it was a great learning experience and taught us that anything can change overnight, and you have to be able to pivot.<div type="image" title="four craft cocktails" height="5464" width="8192" msid="115385469" hostid="261" sizebytes="2130388"></div>I still get worried about financial security some days. As an entrepreneur, you can't pay yourselves unless the business is doing well.<h2 id="e8d53f13-0f83-4bae-9d07-d009ad306ed7">We knew we wanted to expand</h2>David: We searched and searched and searched and came across a spot in Hell's Kitchen and fell in love immediately.Avi: We opened Monkey Thief in October.David: It was very fast. We didn't have to do a lot with the space, mostly cosmetic changes and getting staff trained. The fast opening was good for our pocketbooks but also very high stress. We've all been doing 18-hour days for the last two months.Rishi: We couldn't have asked for a better opening. We've had so much support from the neighborhood, and our regulars from Sama Street have come in to see the new concept.David: It's been a learning curve because it's <a target="_blank" class="" href="https://www.businessinsider.com/restaurant-owners-how-to-run-a-successful-profitable-small-business-2023-10">bigger than Sama Street. </a>But it's a good problem to have. We've got people waiting outside to come in.Rishi: Hopefully, we will open a couple more spaces in the future.Avi: One of the things I love about this industry is that every day is different, though not necessarily in a good way. You might walk in and see the AC has stopped working or the gas is turned off. It's never boring.David: This is not an industry for everyone. The reason we've been successful is that we love coming to work every day. We love the chaos. We love the community.

We left stable careers in tech and consulting to open a cocktail bar in New York City. It was professionally risky but worth it.

The Congress on Wednesday said the <keyword id="19900449" type="General" weightage="20" keywordseo="government" source="keywords">government</keyword>'s proposal of giving individuals the option to choose between two tax rates for long-term capital gains (<keyword id="6357448" type="General" weightage="20" keywordseo="LTCG" source="Orion">LTCG</keyword>) tax on properties is not enough. It should also allow <keyword id="21006654" type="General" weightage="100" keywordseo="indexation-benefits" source="keywords">indexation benefits</keyword> for other forms of <keyword id="20044873" type="General" weightage="20" keywordseo="savings" source="keywords">savings</keyword> such as <keyword id="19905382" type="General" weightage="20" keywordseo="stocks" source="keywords">stocks</keyword> and <keyword id="19975805" type="General" weightage="20" keywordseo="fixed-deposits" source="keywords">fixed deposits</keyword>. Professionals' Congress Chairman Praveen Chakravarty accused the government of "betraying" the middle and salaried class in the Union Budget through the removal of indexation and higher taxes on their savings and <keyword id="22703183" type="General" weightage="20" keywordseo="investment-gains" source="keywords">investment gains</keyword>. "On 23rd July, Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> presented the government's budget in Parliament. We welcomed certain aspects but we strongly opposed many parts of the budget. We welcomed the fact that the FM took some ideas from the Congress party's manifesto such as the employment linked incentive (ELI) scheme, the Apprenticeship Act and removing Angel tax," Chakravarty said at a press conference at the AICC headquarters here. Among other things, we strongly opposed what the finance did to the middle class and salaried professionals, he said. Leader of the Opposition Rahul Gandhi in his response to the Budget in Parliament categorically said that this was a "betrayal of the middle class" through removal of indexation and higher taxes on their savings and investment gains, Chakravarty pointed out. "He (Gandhi) had promised to fight for the middle class on this issue. This issue affected nearly 7 crore Indians who filed income taxes, owned or aspire to own a home and invest their savings. In this budget, effectively, through removal of indexation and increase in capital gains taxes, the taxes of salaried professionals through investment gains went up dramatically," he said. Already, the middle class and the salaried professionals are bearing the brunt of taxation under the Modi government because for the first time in India, total income taxes paid by middle class individuals are higher than taxes paid by rich corporates, Chakravarty said. There were huge protests on social media and in business events in cities like Mumbai where professionals came out spontaneously to protest, he said. Chakravarty said the <keyword id="22703184" type="General" weightage="20" keywordseo="All-India-Professionals-Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="All India Professionals' Congress" meta.hostid="261" meta.entityid="All India Professionals' Congress">All India Professionals' Congress</keyword> and the Congress Party launched a campaign to 'Bring Back Indexation' with a petition asking people to sign it. "We had nearly 12,000 people who signed the petition in just one day since its launch. Yesterday, the government of India announced a rollback of indexation of property gains by giving individuals the option to continue with indexation benefits. We welcome this. This is a victory to the 7 crore people that file income tax," he said. "But this is not enough. We urge the government to allow indexation benefits for other forms of savings too such as stocks, debt, fixed deposits and so on," Chakravarty asserted. More importantly, this is a testament to middle class power and the power of democracy, he said. "When professionals come together and raise their voice, it will be heard. This is also proof of what a strong Opposition and a concerted and united effort can achieve for the people of India. The AIPC will continue to raise issues that impact the middle class working professionals," Chakravarty said. His remarks come a day after the government proposed significant relief for individuals who bought houses before July 23, 2024, by giving them the option to choose between two tax rates for long-term capital gains (LTCG) tax. The Budget 2024-25 had proposed to lower the LTCG from 20% to 12.5% but removed the indexation benefits. The new rates have come into effect from July 23, 2024. The indexation benefit allowed the taxpayers to compute gains arising out of the sale of capital assets after adjusting for inflation. The tax experts had said that the proposed changes in the Budget would raise the LTCG tax burden. As per the amendments to Finance Bill, 2024, circulated to the Lok Sabha members on Tuesday, individuals or HuF who bought houses before July 23, 2024, can compute his/her taxes under the new scheme (@12.5% without indexation) and old scheme (@20% with indexation) and pay such tax which is lower of the two. After the Budget presentation, the Income Tax department said that 'substantial tax savings' are expected for a vast majority of taxpayers due to a reduction in the long-term capital gains tax (LTCG) rate in the real estate sector. As per the changes brought in the 2024-25 Budget, the government has retained the indexation benefit for the taxpayers on properties bought or inherited before 2001.

Allow indexation benefits for savings such as stocks, fixed deposits: Cong to govt

Portugal: The new destination for Indian professionals

“We expect women to work like they don’t have children / domestic responsibilities. And we expect them to raise kids and tend to the home like they don’t have a <keyword id="19920980" type="General" weightage="20" keywordseo="career" source="keywords">career</keyword>.” This statement resonates deeply with many mothers, echoing across social media platforms, parenting forums, and communities. It is incredibly sad to acknowledge that this is a sentiment shared by countless mothers who find themselves caught between the demands of work and home. This is also how I felt 11 years ago. On this Mother’s Day, I wanted to revisit some such challenges that seem overwhelming at times and I myself faced as a <keyword id="21624352" type="General" weightage="20" keywordseo="working-mother" source="keywords">working mother</keyword>. In this article, I won't hesitate from laying bare the challenges of being a working mother. At times, my words may push the boundaries of what's deemed acceptable for print, perhaps even sounding like a rant. But it's crucial to acknowledge and validate these struggles. Being a mother is challenging, and having a career is demanding. Combining these two roles means signing up for one of the toughest jobs on the planet. Some of the common challenges most working mothers face are : 1.Inconvenient time management: Being a mom is a full-time responsibility. It is a 24X7 job. It is also a role that requires the highest level of surrender physically, mentally, emotionally, and spiritually. Having a career requires full time commitment to work. It requires you to keep marching forward as the goal posts keeps shifting. Imagine existing in this state on an everyday basis! Intelligently planning schedules, adhering to timelines, factoring in childcare emergencies and unforeseen developments at work require precision akin to six sigma. Oh, and don’t forget the events! The birthday parties, the company off-site, the client visit and the school annual day – these are no less than an hurdles race we’re running whilst holding a life in our hands. 2.Coping with emotional demands: A working mother is almost always torn between the various emotional demands that come with being an individual who would like to raise a beautiful child whilst building a respectable body of work. There's always the lingering "mommy guilt" of missing out on precious moments and "not being around enough". And then there's an inner voice tugging at her heart, urging her not to lose sight of her career goals. 3.Burden of judgement: From next-door neighbors to relatives, and sometimes even family members to colleagues, peers, and superiors - everyone seems to view working mothers with a preconceived notion that they are set up for failure. No matter how hard she tries, her best is never enough. There is often very little acceptance and a lot more judgment. 4.Lack of <keyword id="20006960" type="General" weightage="20" keywordseo="support-system" source="keywords">support system</keyword>: The Indian family system is not designed to support working women. It often glorifies women as "domestic goddesses" and sees them primarily as caretakers. There are exceptions of course – some families genuinely nurture the individual and her dreams while some depend on the women financially and therefore make space for her work while. 5.Unconscious bias and microaggression - Working mothers often experience a lack of support both in the workplace and at home. Many also encounter discrimination and bias in professional settings. This can take the form of being overlooked for promotions or job opportunities, as well as facing negative stereotypes or assumptions about their dedication to their work due to their parental responsibilities. The snide remarks, the judgmental stare, the condescending tone or simply the lack of empathy – the list goes on. The list doesn’t end here. Working mothers face numerous challenges as they strive to balance their professional and personal responsibilities. From societal expectations to workplace biases, the hurdles can sometimes seem insurmountable. However, by building strong support networks, negotiating for flexibility, and challenging stereotypes, working mothers can overcome these challenges and achieve success in both their careers and their personal lives. My advice to working mothers, is to enlist as much help as possible. Outsource tasks that do not require a personal touch. Define boundaries at home and work, and reinforce what can or cannot be expected of you. Seek mentors and build allies at work. Most importantly, work on your ‘self’ – carve out ‘me-time’ and indulge in self-care. Doesn’t have to mean a spa, it could be cuppa and a book or meeting an old friend. The reality is that there's no such thing as a perfect balance. It's all about finding what works for your family and your career and making compromises when needed. Lastly, be nice to yourself. Remember, you’re doing the best you can. Every mother is the best mother in the world. Chetna Israni is Co-Founder and Director of Morning Star Brandcom. Disclaimer: The opinions expressed are of the author/interviewee and do not necessarily reflect the views of Business Insider India. The article has been partly edited for length and clarity.

OPINION: Balancing act or pure jugglery — navigating professional challenges as a working mother

<ul><li>Job postings that mention AI have witnessed a 2.1X rise in applications compared to those without AI references. </li><li>98% of <keyword id="179686" type="General" weightage="20" keywordseo="indian-professionals" source="Orion">Indian professionals</keyword> are enthusiastic about incorporating AI into their work. </li><li>AI is seen as a valuable tool for career guidance and as a means to tackle complex workplace challenges by majority. </li></ul>The job landscape is on the cusp of radical transformation, with at least 65% change in skills required for jobs by 2030, primarily propelled by the rapid advancements in <keyword id="107950" type="General" weightage="20" keywordseo="artificial-intelligence" source="Orion">artificial intelligence</keyword> (AI), as revealed by a report by professional network LinkedIn . In the past two years, job advertisements in India that reference AI or Generative AI have more than doubled (increased 2.5 times). Additionally, job listings mentioning AI or Gen AI have experienced a 2.1 times increase in the number of applications compared to those without such mentions. LinkedIn's research also reveals that an impressive 98% of Indian professionals are enthusiastic about incorporating AI into their work. Many are eager to use AI for seeking career guidance (75%) and handling challenging work situations (78%). In response to these imminent shifts, business leaders are turning to their HR and recruitment teams to guide the way. 92% of talent professionals in India acknowledge that their roles have assumed a more strategic dimension, particularly within the realm of talent acquisition. Here, AI is poised to play a pivotal role by alleviating administrative burdens, allowing HR teams to direct their energies toward the most strategic aspects of their roles. Says Ruchee Anand, senior director, talent and learning solution, LinkedIn India, “AI is bringing in a new era of work, reshaping everything from our workplaces and teams to the very nature of job-seeking and hiring. HR professionals are at the helm of this transformation, with a clear mandate: skills will be the cornerstone of an AI-powered work environment. With AI as a tool, HR professionals can focus on simplifying routine tasks, diving deeper into valuable, people-centric responsibilities, and ensuring their businesses are equipped with the right talent to prosper.” Globally, 80% of HR professionals believe that AI will be a valuable asset over the next five years. They anticipate that AI will empower them to focus on the more strategic and human-centered dimensions of their positions. This includes fostering relationships with candidates and colleagues and engaging in creative and strategic initiatives (39%).

Job skills to change majorly by 2030 as AI inputs speed up

<div type="image" title="For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire" height="900" width="1200" msid="114064202" hostid="261" caption="&amp;lt;p&amp;gt;For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire&amp;lt;/p&amp;gt;"></div> Once upon a time, there thrived a wild, wild land. Here, it was all about super high monetary stakes, lightning-fast trade deals, and bucketloads of money shifting hands every single second. This wilderness lured millions of individuals with the promise of super duper high returns. But, at what cost? Welcome to the unforgiving, ultra-risky wild west of <keyword id="19991165" type="General" weightage="20" keywordseo="Indian-equity-markets" source="keywords">Indian equity markets</keyword> called the <keyword id="145718" type="General" weightage="100" keywordseo="Futures-and-Options" source="Orion">futures and options</keyword>. Here, everyone seems to just fly right through the bright red-flagged warnings of financial risks to earn even a fraction of these promised returns. Most burn themselves in the process, but carry on nevertheless, as if nothing ever happened. <h2>Chasing the cloudy profits</h2>The data conclusively proves that every 9 out of 10 individuals only lost their hard-earned money in this land. But hey, what do the numbers know? Some hide their losses out of shame, some out of fear. The proponents, meanwhile, proudly boast unusually high returns on their investments, some open social media channels while others encourage their friends and family to take the plunge. Naturally, news of this unstoppable and humongous en-masse migration to the F&amp;O (futures and options) town has reached sheriff <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="261" meta.entityid="SEBI">SEBI</keyword>, galvanising them into action. After all, it was time to put a leash on this madness and save the common man. The inhabitants of this town doubled in the last 2 years, from 51 lakh in FY22 to 96 lakh in FY24—99.8% of whom were small and mid-income traders. But profits? Well, that's a different, rather completely absent story. <h2>Que Sera Sera, much?</h2>A recent report by SEBI (Securities and Exchange Board of India) that studied profits and losses made by traders in the equity derivatives segment between FY22-24 exposed the mad mania of futures and options trading in India, especially since the pandemic. Per the report, 91.1% of individual traders, or about 73 lakh traders had only lost money trading in futures and options in FY24. Between FY 22-24, over 1 crore traders, or about 92.8% of individual traders, had lost Rs 2 lakh each. But once bitten, twice shy? Well, not in this case. More than 75% of individuals, who had only made losses trading in F&amp;O in FY22 and FY23, continued to trade vigorously in FY24 as well, without any changes in the bottom line, which remained deep in red and negative. So, then all these traders must be uber-rich, with tons of cash and not much care to spare? Nope. 76% of traders in the F&amp;O space in FY24 had an annual income of less than Rs 5 lakh. 2 years ago, their share stood at 71%. And their choice of poison? Options! In FY24, 60% of traders made losses trading in futures, but a whopping 91.5% burnt their funds trading in options. Mind you, futures are riskier than options. With futures, which require significant capital investment, the buyer and seller both are contractually bound to adhere to the pre-determined strike price of the futures or options contract, irrespective of whether the prevailing prices are higher or lower (and thus, resulting in losses for either the buyer or seller). With options, since this adherence ain't necessary, individuals end up taking debt to take highly leveraged positions while trading here. <h2>Scale of the explosion</h2>Anyone who trades even infrequently will tell you that a demat account is the mitochondria or powerhouse of the trading cell. As of August 2024, India had over 17.1 crore <keyword id="20957284" type="General" weightage="20" keywordseo="demat-accounts" source="keywords">demat accounts</keyword>, which are a prerequisite for trading in the markets. India is the 9th biggest country in the world, in terms of total demat accounts. Did you know that our demat accounts are at par with the entire population of Bangladesh? Talk about scale! Just 4 years ago, in March 2020, this number was a mere 4 crore. Naturally, the total F&amp;O turnover on both <keyword id="20004725" type="General" weightage="20" keywordseo="NSE" source="keywords" meta.keywordsubtype="org" meta.entityname="NSE" meta.hostid="261" meta.entityid="NSE">NSE</keyword> and BSE has hit the roof, and also broken it. As of October 4, 2024, the total futures and options turnover on NSE stood at a massive Rs 4,78,27,27,750.30 crore. Good luck counting the thousands! <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Turnover (Both Futures and Options) (In Rs Crore) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020-21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64,36,03,951.51 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021-22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,69,52,33,134.47 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022-23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,82,23,26,468.06 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2023-24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,99,27,67,152.43 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source : NSE Another metric that underlines the meteoric growth of trading in India is the collection of STT or <keyword id="20930760" type="General" weightage="20" keywordseo="Securities-Transaction-Tax" source="keywords">Securities Transaction Tax</keyword>. As of September 2024, India's STT mop-up had gone past Rs 26,000 crore. Traders have to pay STT whenever they buy or sell any security in the market. So, more trading brings in more STT, and hence, more revenue for the government, so they're not really complaining. After all, this is certainly what they'd call enviable growth. As of August 2023, our STT collection stood at about Rs 21,599 crores. And in FY20-21, India's STT collection had been Rs 16,000 crore. If only our salaries also managed to grow at this rate! <h2>So, what's happening?</h2>Two things. One, it's the big bulls who are raking in all the moolah. And it's the younger lot (those aged under 30) who are propping them up for this. In FY24, 43% of individual traders in the market were less than 30 years of age. In just one year, this number has swelled by 12 percentage points from just 31% of individual traders. But who says ageing is bad? Wrinkles and silver hair seemingly have a propensity of incurring lesser losses in the market. In FY24, only 79% of traders aged above 60 years made losses, as compared to 93% of those aged below 30. Small and mid-income traders, which make up 98% of the total trader base, witnessed average losses per person of Rs 65,000 and Rs 1.5 lakh in FY24 in futures and options, respectively. The winner here? Clearly, the big bulls, who declared an annual income of over Rs 1 crore, ended up with average profits of Rs 96,000 per person this year. <h2>What’s the sheriff up to?</h2>The government has finally swung into action, hiking the STT rate for F&amp;O during this year’s budget. Effective October 1, 2024, the STT on futures stands at 0.02%, up from 0.0125%. For options, it was upped to 0.1% versus 0.0625% previously. Small margins, but huge impact oncoming. Says Puneet Sharma- CEO and Fund Manager at Whitespace Alpha, “SEBI aims to enhance market stability while safeguarding investor interests, reflecting the regulator's intent to balance risk management with market participation”. But this might come with its own share of challenges, too. “Stricter norms around leverage, transparency, and capital adequacy could limit the ability of investors to determine their own risk appetite, thereby stifling innovation in trading strategies. Over-regulation in an environment that thrives on strategic flexibility and creativity could dampen the market’s dynamism, affecting India's competitiveness in the global derivatives landscape”, he observes. SEBI recently came out with a set of guidelines that aim to thwart <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword>' participation in futures and options and hinder them from taking undue risks. Here's a quick recap of what's to come for the residents of the F&amp;O town Margin Requirements: To battle the high volatility and chaos which is generally seen on expiry days(i.e the last mandated date, post which an option becomes invalid), SEBI will put in place an extreme loss margin (ELM) of 2% for all open short options on the day of expiry. Translation? Traders will need to pony up more cash upfront, leaving them with fewer funds to take on risky bets. It ain't a choice: No more of one expiry every single day! Going ahead, an exchange like BSE or NSE will just be able to offer weekly expiries, that too, only on one benchmark index, as opposed to an entire buffet it currently offers. At present, NSE offers weekly options contracts for its financial index, bank and midcap indices. But say goodbye to this, and hello to derivatives on only 1 index per exchange. Raising the bar: Effective November 30, 2024, the minimum contract value for index derivatives will be upped to Rs 15 lakh, from the present Rs 5-10 lakh. The hope is that by making it ultra-expensive to enter these trades, investors will be dissuaded from taking on risky trades. Pay upfront: Starting February 2025, those trading in options will have to pay the entire options premium upfront, even before their trades are executed. This is because options generally carry very high leverage, and paying a significant sum upfront can force traders to think twice. Invigilation Pro Max: Starting April 1 2025, to make sure that the number of positions for equity index derivatives does not slyly slip over the mandated limit, especially on expiry days when trade volumes are huge, the exchanges will have to take a minimum of 4 position snapshots randomly. The question is, will these injections of sobriety be enough to calm down the steroid-fed bull of the futures and options market in India? Well, only time and market turnover will tell! For more insights into the financial markets and business news, stay tuned to our site and social media handles. And don’t forget to subscribe to Business Insider India’s newsletters for your weekly dose of Simply Put! Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

SIMPLY PUT: SEBI is on a mission to take on the wild, wild west of futures and options in India. Here’s why, what, and how

<ul><li>A substantial 71% of professionals indicate their willingness to learn more about AI, even if they are uncertain about where to begin. </li><li>Over half of India's <keyword id="52626" type="General" weightage="20" keywordseo="workforce" source="Orion">workforce</keyword> believes that AI can simplify their tasks, leading to increased job satisfaction. </li><li>Regarding how AI will benefit their careers, 57% of professionals anticipate increased confidence through faster access to knowledge. </li></ul>Somewhere we always knew that <keyword id="107950" type="General" weightage="20" keywordseo="artificial-intelligence" source="Orion">artificial intelligence</keyword> (AI) would change the way we work, but after the <keyword id="15681942" type="General" weightage="20" keywordseo="chatgpt" source="Orion">ChatGPT</keyword> era dawned on us, we are sure that it will. While there are concerns that AI will take away our <keyword id="11018" type="General" weightage="20" keywordseo="jobs" source="Orion">jobs</keyword>, like any other new technology, what we make of it lies on us. Despite causing some uncertainty, with 60% of professionals feeling overwhelmed and 39% expressing concerns about keeping pace with the rapid advancements of AI in the workplace, the majority of Indian professionals are enthusiastic about embracing this transition. A <keyword id="28120" type="General" weightage="20" keywordseo="linkedin" source="Orion">Linkedin</keyword> survey shows that a substantial 71% of professionals indicate their willingness to learn more about AI, even if they are uncertain about where to begin, according to a research by professional network LinkedIn. <cmsannotation type="cmsannotation" annotationid="AI likely to increase job satisfaction" comment="Subhead" text="AI likely to increase job satisfaction">AI likely to increase job satisfaction</cmsannotation> Professionals in India are optimistic that AI can alleviate the mundane aspects of their daily work, potentially enhancing job satisfaction and overall quality of life. Over half of India's workforce (55%) believes that AI can simplify their tasks, leading to increased job satisfaction, and a significant majority (74%) anticipates improved work-life balance. Additionally, professionals express a desire to utilise their newfound free time to bolster their professional networks (45%) and acquire new job-related skills (48%). <cmsannotation type="cmsannotation" annotationid="AI to compliment soft skills at work" comment="Subhead" text="AI to compliment soft skills at work">AI to compliment soft skills at work</cmsannotation> Professionals also believe that AI will not only enhance their access to essential knowledge and skills for their work but also highlight the invaluable nature of their human skills in terms of career progression. They anticipate that skills such as problem-solving (77%), communication (76%), and creativity (76%) will gain increased significance as AI tools become more prevalent in the workplace. <cmsannotation type="cmsannotation" annotationid="The potential of AI to transform careers" comment="Subhead" text="The potential of AI to transform careers">The potential of AI to transform careers</cmsannotation> Indian professionals exhibit strong optimism about AI's potential to positively transform their careers. A significant majority, 98%, express excitement about using AI at work, and 97% believe it will contribute to their career advancement. LinkedIn data reflects a substantial 21-fold global increase in English-language job listings mentioning emerging generative AI technologies like ChatGPT, highlighting AI's significance for career development. Regarding how AI will benefit their careers, 57% of professionals anticipate increased confidence through faster access to knowledge, while 43% expect quicker promotions as AI allows them to focus on higher-value tasks. Many also foresee enhanced productivity, with 79% planning to use AI to solve work-related challenges, 75% seeking answers to questions they may be hesitant to ask colleagues, and 74% expecting AI to handle tedious tasks, allowing them to concentrate on more engaging work. Over 75% of professionals intend to use AI for career guidance and progression. <cmsannotation type="cmsannotation" annotationid="Stay ahead of the curve" comment="subhead" text="Stay ahead of the curve">Stay ahead of the curve</cmsannotation> LinkedIn’s career expert Nirajita Banerjee shares some advice to embrace AI as a part of your work life. “In navigating the evolving landscape of AI, it's essential to connect with experts and tap into your professional network.” It is also important to emphasise the significance of honing your soft skills, as AI-driven shifts in job requirements are accelerating. Valuable skills to cultivate include problem-solving, communication, and creativity. Finally, one should embrace any apprehensions about AI, recognising that change is gradual, and actively participate in its evolution rather than merely being impacted by it. It is aso essential that you grow your AI skills to stay ahead of the curve.

You Searched For "indian professionals" and got 7 results

We left stable careers in tech and consulting to open a cocktail bar in New York City. It was professionally risky but worth it.

Erin Snodgrass

Allow indexation benefits for savings such as stocks, fixed deposits: Cong to govt

PTI

Portugal: The new destination for Indian professionals

Ayush

Shagun

OPINION: Balancing act or pure jugglery — navigating professional challenges as a working mother

Chetna Israni

Job skills to change majorly by 2030 as AI inputs speed up

Anagh Pal

SIMPLY PUT: SEBI is on a mission to take on the wild, wild west of futures and options in India. Here’s why, what, and how

Ira Alok Puranik

Indian professionals feel that AI can simplify their lives and lead to increased job satisfaction

Anagh Pal

Popular Keywords

Buying Guides