Financial Assets

Unclaimed assets worth ₹2,000 cr provided to rightful owners in Oct, Nov

The government has launched a nationwide campaign 'Your Money, Your Right' to facilitate the settlement of unclaimed financial assets, and Rs 2,000 crore have been claimed by their rightful owners in October and November this year. The government launched the campaign on October 4 to facilitate the settlement of unclaimed financial assets, including bank deposits, insurance, dividends, shares, mutual funds and pensions, to their legitimate claimants. From October to December 5, 2025, camps have been held in 477 districts with participation of public representatives, district administration, and officials from financial institutions, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Rajya Sabha. To maximise outreach during the campaign, standard operating procedures (SOPs), frequently asked questions (FAQs), and awareness material in major regional languages, along with short video messages, have been widely disseminated. District-level camps are organised

New World's Adrian Cheng launches ALMAD to tap digital, tokenised assets

The move marks the latest chapter in the career of one of Hong Kong's best known property executives

Ionic Wealth plans expansion in tier-2,3 cities to target HNIs: CEO

Ionic Wealth, a wealth management firm, is aiming to expand into tier-two and tier-three cities, where high-net-worth individuals (HNIs) are shifting from traditional savings instruments to financial assets, its top official said. This strategic focus reflects a broader trend among HNIs in emerging regions who are increasingly looking for more sophisticated financial solutions. "We believe there is immense potential in Tier 2 and 3 cities, where HNIs are moving from traditional savings to financial assets, spurred by strong market performance during and after the pandemic. These investors are now accessing everything from simpler products like stocks and mutual funds to sophisticated solutions such as PMS and AIFs," Srikanth Subramanian, who is co-founder and CEO at Ionic Wealth (By Angel One) told PTI in an interaction. Recognizing the gap in these underserved markets, Ionic Wealth is focusing on a robust hybrid model combining technology with human advisory. This approach aims to

Name-based search: Key to unlocking unclaimed assets across sectors

A dedicated authority - focused on returning these assets - would be better positioned to overcome the psychological resistance that regulators have, to enabling searches based on names

Net claims of non-residents on India declined by $19.8 bn in Q2: RBI

Net claims of non-residents on India declined by USD 19.8 billion during the second quarter of the current financial year to USD 348.5 billion in September 2024, according to RBI data released on Monday. Higher rise in Indian residents' overseas financial assets (USD 66.5 billion) compared to that in the foreign-owned assets in India (USD 46.7 billion) led to a decline in net claims of non-residents during the quarter. Net claims of non-residents on India is the difference between the assets and liabilities held by non-residents in India. "Over 80 per cent of the increase in overseas financial assets during July-September 2024 was due to the surge of USD 53.8 billion in the reserve assets," said data on 'India's International Investment Position (IIP), September 2024'. RBI further said the rise in inward portfolio investment (USD 16.5 billion) and loans (USD 15.4 billion) together accounted for over two-thirds of the rise in foreign liabilities of Indian residents during the ...

Sebi mulls revamping nominations framework to reduce unclaimed assets

Capital markets regulator Sebi on Friday proposed revamping the nominations framework in a bid to reduce unclaimed assets in the securities market as well as smoothen the process for claiming the assets by surviving successors of the deceased investors. In its consultation paper, the regulator proposed revisions to nomination facilities for securities such as shares, bonds, units of REITs (Real Estate Investment Trusts), InvITs (Infrastructure Investment Trusts), AIFs (Alternative Investment Funds) and other securities held in dematerialized form and for units of mutual fund schemes that are expressed in a statement of account. This will address the objective of providing convenience to investors and uniformity in the procedures to institutions. Such revamped nomination facilities will operate without affecting the prevalent systems of law governing transmission and succession -- rule of survivorship in case of joint holdings, when a person has died leaving a Will; and when a perso

Financial planning for 2024, farmhouse luxury: Top personal finance stories

This week we advise on what to do about your money goals and how to plan a getaway investment in the greens

A tightrope between Israel and Arab ties

A prolonged Israel-Hamas conflict may, at some point, pose a threat to Indian financial assets

Foreign assets mean tax liabilities: Things to mind while filing returns

Penalties for non-disclosure or inaccurate disclosure of these details can be severe, say experts

India to press for automatic exchange of non-financial assets' info at G20

India is pressing for expanding the scope of common reporting standard (CRS) at the G20 to include non-financial assets, like real estate properties, under the automatic exchange of information (AEOI) among OECD countries, Revenue Secretary Sanjay Malhotra said on Thursday. Presently, the OECD's Automatic Exchange of Information (AEOI) framework provides for sharing of financial account details among signatory countries with an aim to check tax evasion. In August 2022, the OECD also approved the Crypto-Asset Reporting Framework (CARF) which provides for the reporting of tax information on transactions in crypto assets in a standardised manner, with a view to automatically exchanging such information. Addressing the meeting of the 'Asia Initiative of the Global Forum on Transparency and Exchange of Information for Tax Purposes', Malhotra said there is also a need to broaden the scope of AEOI so that the information could be used not only to check tax evasion, but also for other non-ta

Budget primer: Understanding govt expenditure and its various types

Its importance is seen in its ability to hugely influence the nation's economy, as it reflects aggregate demand in addition to household consumption, business investment, and net exports

Budget primer: Understanding govt expenditure and its various types

Its importance is seen in its ability to hugely influence the nation's economy, as it reflects aggregate demand in addition to household consumption, business investment, and net exports

Inheritance rights of adopted children vary on the basis of religion

Hindu and Christian personal law treat adopted child on a par with natural-born ones

Centre may introduce changes to capital gains tax rules, says report

A task force had recommended changes in indexation benefit rules for the capital gains tax in 2019, and it is expected to be the main basis of the review

Bequeathing leaders' experiential wealth

The sharing of experiential assets requires one to upgrade that asset into a customer-friendly form

CFM ARC sells JBF Industries assets to Reliance Industries entity

RIL was the lone bidder for the company with a Rs 825-crore offer as against the dues of Rs 2,100 crore of banks

Bank of England sketches out first regulatory approach to crypto

Cryptoassets have come under the regulatory spotlight amid concerns they could be used to circumvent financial sanctions imposed on Russia since its invasion of Ukraine

Banning all cryptocurrencies unwise move, regulation needed: ORF report

Cryptocurrencies need to be regulated like any other financial asset and it would be unwise for India to ban private crypto assets, a study released by Observer Research Foundation said

Afghan central bank's $10 billion stash mostly out of Taliban's reach

Most of the assets are held outside Afghanistan potentially putting most of them beyond the insurgents' reach, according to Afghan officials, including the bank's acting governor, Ajmal Ahmady

Statutory nominations can reduce disputes

The life insurance kind of 'statutory nomination', which confers final ownership on the nominee, is the need of the hour for all assets