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More than 15 per cent of the high networth individuals in the country are aged under 30, a recent report said. Prashant Thakur, Regional Director and Head of Research, Anarock Property Consultants, noted, “A dynamic mix of young entrepreneurs, tech pioneers, and seasoned industrialists driving the expansion in affluent population.” The study found that 20 per cent of the Indian …

How Much Do High Net-worth Individuals Invest In Term Insurance? Policybazaar Reveals Trends

As the awareness and demand for term insurance gain momentum, Policybazaar has observed a steadily growing preference among High-Net-Worth Individuals for high-value insurance coverage. This shift is visible through an increasing number of HNIs opting for high-value policies of Rs 20 Crore over the last few years, the insurance marketplace said. Sarbvir Singh, joint group CEO, PB Fintech, said, “We …

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The Income Tax Department is fully prepared to take stringent action against high-net-worth individuals who engage in tax underpayment, according to Financial Express. This decision follows the department's discovery that the reduction in the highest tax rate on personal income from 42.74% to 39% in the FY24 Budget has not deterred tax evasion among HNIs. In this year's Budget, the …

The Union Bank of India has recently introduced two new debit card variants to cater to specific segments of its clientele: high net worth individuals and women. As Union Bank of India continues to evolve and innovate in the digital banking landscape, it wants to project these new card variants as a testament to its customer-centric approach. Debit card for …

India’s ultra-high-net-worth individuals with net worth over $30 million will rise by over half in the next five years. From the last count in 2022, the number is likely to grow to 19,119 individuals in the next five years in 2027, found a new report by real estate agency Knight Frank’s ‘The Wealth Report 2023’. However, the HNI population remained …

Investors relying on the grey market for making decisions related to initial public offerings were in for a rude shock on Thursday. Shares of Sona BLW Precision Forgings and Shyam Metalics & Energy listed on Thursday at vastly different prices than what the grey market had indicated. Sona Comstar shares rose 24% compared to its issue price, far higher than …

A surge in international investing by high net-worth individuals is pushing family offices in India to enter into foreign partnerships to deliver advice on investing in global markets. In May, Waterfield Advisors, which manages assets worth around $3.7 billion across 70 families in India, tied up with Zephyr Management, a US-based firm to manage international investments of its clients. We …

The key investors are a group of HNIs and angel investors from Dubai, UAE, Illumnus said in a statement, without disclosing any details. Mumbai: Edtech startup Illumnus on Tuesday said it has raised $1,00,000 in seed funding from a group of high networth individuals and angel investors to market and expand its services. We plan to market and expand our …

Tax implication on migration of high net-worth individuals