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The legal mandate to tax digital assets in this year’s budget speech was indeed a welcome and motivating move for the entire digital asset industry and the Web 3.0 market. While a flat 30% tax rate on profits from trading virtual digital assets (VDAs), announced by the Secretary of the Treasury, appeared to be a …
In a tweet on Jan. 13, Aashish P. Sommaiyaa, CEO of White Oak Capital, the latest addition to the mutual fund space, announced that the name had changed from YES Asset Management to Whiteoak Capital Asset Management. The change will take effect on January 12, 2022. Sommaiyaa also said that YES Mutual Fund will now …
Around Rs, 21,539 crore in unclaimed amount was in Life Insurance Corporation of India (LIC) at the end of September 2021, according to draft registration documents filed on Sunday. In FY21, the unclaimed amount was Rs 18,495.32 crore as compared to Rs 16,052.65 crore in FY 2020. In FY 2019, this amount was Rs 13,843, …
Earlier this month, HDFC Mutual Fund, the nation’s third-largest mutual fund company, announced the merger of six of its Fixed Maturity Plans (FMPs) into the HDFC Corporate Bond Fund. Elsewhere, and also in March, Aditya Birla Sun Life Mutual Fund announced the merger of 17 of its own MPFs into its short duration fund and …
April 20 marks Cannabis Day, an international celebration of the potential of medical cannabis and cannabis culture in general. It is a day when people from all over the world come together to advocate for the liberalization and legalization of cannabis. Over time, this day has become a remarkable occasion for cannabis enthusiasts to come …
India’s crude oil production fell 2.67% in the year ended March 31 as the state-owned ONGC produced less than target, but natural gas production rose on the back of KG production per part of Reliance-BP. According to official data released by the Ministry of Petroleum. India’s crude oil production has declined in recent years. From …
Fertilizer subsidies are expected to hit an all-time high of Rs 1.65 crore this fiscal year against the budget estimate of Rs 1.05 crore due to an unprecedented rise in the cost of raw materials and fertilizers in the world, according to a report. India’s fertilizer subsidies are expected to reach a record Rs 1,650 …
A quarter of India’s power generation capacity has been shut down, mainly due to fuel shortages. At a time when Idia’s electricity demand is growing at its fastest rate in decades, almost a quarter of all installed thermal, nuclear and hydroelectric capacity is being shut down. According to the monitoring report of the Central Electricity …