City Mumbai Financial News

financial independence, retire early) movement. The FIRE model originated in 1992 with Your Money or Your Life, a book by Vicki Robin and Joe Dominguez, which talked about the pursuit of financial independence to gain control over one’s life. In 1994, Financial Planner William Bengen introduced the 4% rule, which proposed that one could safely withdraw 4% of one’s investment portfolio annually in retirement without depleting one’s savings. This became another core element of FIRE planning.

Mumbai: If you are a salaried individual with additional income from other sources or likely to come into some inheritance, then the provisions of Hindu undivided family (HUF) can help you make significant tax savings. To create an HUF, the head of the family, or karta, needs to submit an affidavit to that effect to the income tax department, along with an application for PAN (permanent account number) for the new entity and details of the HUF members. Only couples who are married and have at least one child can set up an HUF for tax purposes.

MUMBAI : The Adani Group has invested close to $1 billion in Navi Mumbai International Airport Ltd, in a bid to start operations by December next year, two people with direct knowledge of the development said. Of the ₹8,625 crore (approximately $991 million) invested in the Navi Mumbai airport so far, Adani has made an equity infusion of ₹1,710 crore. It has also raised ₹2,900 crore in term loans from a consortium of banks, while an additional ₹3,655 crore equity came from the City and Industrial Development Corporation of Maharashtra Ltd (Cidco), a city planning agency in Maharashtra, these people said.

Kotak Mahindra Bank credit cards ahead of his debut India tour next spring. A relative straggler among large private banks in signing up new credit-card customers, Kotak Mahindra has tied up with the organizers of Sheeran's Mumbai show — and that has helped the lender sell more cards than it did through any other promotional to date. On average, India's third-biggest private lender by market value receives 5-6,000 credit card applications a day. But a pre-sales offer tied to Sheeran's March 16 show in Mumbai's Mahalakshmi Race Course caused that number to surge to 30,000 a day. «We have seen a fivefold increase in applications for our premium credit cards — the white and white reserve cards — following the pre-sale announcement,» said Frederick D'Souza, Business Head, Credit Cards, Kotak Mahindra Bank. Pre-sale tickets for Ed Sheeran's performance, with a minimum price tag of Rs 7,500 each, were available for Kotak Bank white credit card holders for Rs 5,500.

MUMBAI, BENAGLURU : Nine of India’s top 10 software services firms, employing more than 2 million engineers, have seen their workforce shrink in the six months to 30 September, the first time in more than 25 years, as clients in the US and Europe cut spending amid rising economic and geopolitical risks. With the six months to March typically softer for IT companies than the first half because of fewer working days, the year ending 31 March may mark the first instance of Indian IT companies ending the year with fewer employees than at the beginning of the fiscal year, according to industry executives and staffing firms.

Mumbai: Even a dead cat will bounce once if it falls far enough," goes a famous Wall Street saying. In the 1980s, the saying gained currency and came to mean a short-term recovery amid a declining trend. As the Indian stock markets closed over 1% on Friday, 27 October, after six days of bloodbath, many analysts found themselves questioning if this was indeed one of those ‘dead cat bounces’.

After the bomb blast, a man surrendered before the Kerala Police and claimed responsibility for the attack, said Kerala ADGP (law and order) MR Ajith Kumar. The alleged accused was identified as Dominic Martin claiming that he belonged to the same group of sabha. Kerala blast live updates The blast took place at an international convention center in Kalamassery where hundreds of followers of Jehovah's Witnesses had assembled on the concluding day of their three-day-long prayer meeting.

Mumbai to make space for Olympic-size swimming pool and sports complex, reported TOI. Brihanmumbai Municipal Corporation (BMC), India's richest municipality has given time till Monday to raise objections on the said project.

₹20 crore, Reliance Industries Chairman Mukesh Ambani on 28 October received another death threat in an email, reported news agency ANI. This time the emailer raised his demand from ₹20 crore to ₹200 crore, citing lack of response to the previous email. "Another email came from the same email account in which it was written 'U have not responded to our email now the amount is 200 crore otherwise the death warrant is signed'," the news agency quoted the Mumbai Police as saying.

Track our LIVE AQI coverage here “In Delhi and in the whole of North India, there is an increase in the level of PM2.5, and that of PM10 is decreasing in pollution. All the buses in Delhi are CNG. But the buses coming from Uttar Pradesh, Haryana, and other adjoining areas are diesel, due to which pollution is increasing," he told the agency.

Global Capability Centers (GCC), is driving the performance of commercial real estate across India’s key property markets. The resilience exhibited by the Indian economy despite the global headwinds and availability of talent continues to help the office property markets in key cities sustain the growth trend. Demand for office space in India’s largest occupier markets remained strong with over 16.1 million sq ft office space leases during the period. Robust occupiers' demand for setting up Global Capability Centres (GCC) constituted most of the leasing. Prime office rentals in the country’s key property markets Delhi-NCR, Mumbai, and Bengaluru remained strong in year-on-year terms.

The real estate sector has strengthened across the country over the past few years as a result of enhanced buying capacity, stable repo rates, the inclination of buyers towards owning comfortable living spaces, and, most importantly, the availability of promising projects for investment. Delhi-NCR, and particularly Noida, holds remarkable growth opportunities and economic efficiency in terms of commercial real estate developments. With the increasing demand for flexible spaces, co-working environments, and high-street retail, the commercial real estate sector in NCR is experiencing a surge like never before.

IPO) of Cello World will open for subscription on Monday. The company has fixed a price band of 617-648 per share for its offer. Ahead of the issue opening, the company's shares are commanding a healthy premium of Rs 90 in the unlisted market. The stationery maker has raised Rs 567 crore from anchor investors where marquee investors including Goldman Sachs, Nomura, SBI Life, Morgan Stanley among others participated. The issue, which closes on November 1, is completely an offer for sale worth Rs 1,900 crore.

Manisha Lakhe is a poet, film critic, traveller, founder of Caferati — an online writer’s forum, hosts Mumbai’s oldest open mic, and teaches advertising, films and communication. She can be reached on Twitter at @manishalakhe."Exciting news! Mint is now on WhatsApp Channels

BEST's legendary red double-decker diesel buses. A transport department official said the last Premier Padmini was registered as a black-and-yellow taxi at the Tardeo RTO, which has jurisdiction over the island city of Mumbai.

There is no noticeable change in the scenario despite a 15-point winter action plan and initiatives such as 'Red Light on, Gaadi off' being put in action. With vehicular and biomass burning emissions contributing to rising PM2.5 levels, the haze is set to continue. 'Very Poor' air quality forecast has already been issued for the region from October 29 to 31. On Sunday, the overall air quality in NCR was recorded in the 'Very Poor' category, data from the System of Air Quality and Weather Forecasting and Research (SAFAR)-India showed. The AQI in Delhi was at 309 on Sunday morning.

AQI LIVE Updates: The overall air quality in Delhi on Sunday morning continued to remain in ‘very poor’ category as the Air Quality Index (ADI) hovered around 309 at 8:00 am, according to the data revealed by SAFAR. The average AQI in Noida also stood above 300, 232 in Delhi airport (T3), 341 in Delhi University, 362 in Dhirpur. The air quality in Mumbai stood at 139 which is in ‘moderate’ category.

₹1.5 crore to ₹2 crore. The video of the same became viral on social media. According to the tweet, the long lines were seen in the Wakad area, situated 15 km away from Pune main city.

Shiv Sena (UBT) leader Uddhav Thackeray on Saturday said the BJP was trying to weaken the importance of Mumbai and all businesses and industries are being shifted to Gujarat. Addressing a conclave of veteran Shiv Sainiks, Thackeray said only Shiv Sena can stop the Bharatiya Janata Party in Maharashtra. «I see an opportunity in the crisis (following a split in Shiv Sena),» he said and appealed to the first generation shiv sainiks to impress upon young workers the indispensability of Sena for Mumbai, Maharashtra, and Marathi people. The former chief minister accused the BJP of trying to weaken the importance of Mumbai. «All businesses and industries are being shifted to Gujarat. What is the need for the Mumbai-Ahmedabad bullet train?» he questioned. Thackeray said the Coastal Road is being constructed from the funds of the Brihanmumbai Municipal Corporation (BMC). He said the Shiv Sena's fight is against autocratic tendencies and not individuals. «In 2014 and 2019, the BJP tried to destabilize Shiv Sena.

G20 Summit in New Delhi, commenced on Saturday from the city, according to a release. The initiative taken by a local NGO, Jagriti Sewa Sansthan in collaboration with G20 Startup 20, and supported by the State Bank of India and SIDBI, will focus on inclusive enterprise and women-led development with other themes from the Delhi Declaration, it said. The 8000-km long yatra will be undertaken across the country and will conclude in Mumbai on November 10, it said. Through the Yatra, participants will gain exposure to the international startup ecosystem, acquiring insights into inclusive practices and global networking, it stated. «We are happy to collaborate with the Jagriti G20 Startup20 Yatra, as it resonates deeply with SBI's commitment to fostering entrepreneurship in the country and participating in Women-led developmental initiatives,» SBI Chairman Dinesh Khara was quoted as saying in the release. «This initiative mirrors our focus on creating a diverse and inclusive entrepreneurial ecosystem, driving economic growth and social progress,” he added. The Yatra will promote the 5 pillars of the Delhi Declaration which include inclusive growth, green development, technological transformation and digital public infrastructure, women empowerment and culture as a transformative driver, as per the release. These key tenets of the Delhi Declaration will be amplified through seven mega events that are planned across Mumbai, Bengaluru, Varanasi, Deoria, Delhi (two events), and Gandhinagar, as part of the Yatra, it said. »This Yatra is being supported by SIDBI as a 'Green Partner, which has prioritised digitization and greening the enterprise ecosystem.

₹1,627 crore-alleged bank fraud involving Parabolic Drugs. The Chandigarh-based pharmaceutical company is promoted by Pranav Gupta and Vineet Gupta, and was booked by the Central Bureau of Investigation (CBI) in 2021.