Citizens Financial News

South Korea Ministry of Unification has said that public executions in North Korea are on the rise. This has yet again highlighted the absolute disregard for human rights by the hermit kingdom. This report is the second annual report which has been prepared based on the testimonies of defectors from North Korea. The laws are vague and people get executed for even petty crimes. The country has in recent times, actively sought to curb cultural influence emanating from its southern neighbor. One recent public execution was that of a 22-year-old in the South Hwanghae province in 2022. His only crime was listening to 70 South Korean songs and sharing three movies.

Public Provident Fund (PPF) is one of the most popular savings vehicles. Individuals can only keep one PPF account, except an account created on behalf of a minor. Investment in PPF is risk-free since the government backs it, the interest rates are favourable, and many tax breaks allow you to save on income taxes. PPF, Senior Citizen Savings Scheme, Sukanya Samriddhi, NSC, other small savings schemes' rates announced for July-September 2024 quarter

Maharashtra Chief Minister Eknath Shinde on Saturday announced 'Mukhyamantri Teerth Darshan Yojana', a pilgrimage scheme for senior citizens from all religions. The scheme will help elderly people who are unable to visit the pilgrimage sites on their own, he said. Shinde made the announcement in the state legislative assembly while replying to a calling attention notice by Shiv Sena MLA Pratap Sarnaik. «The scheme titled 'Mukhyamantri Teerth Darshan Yojana' will be for the senior citizens of all religions,» the chief minister said. Rules will be framed for the scheme and the government will facilitate the pilgrimage of senior citizens from all religions who are unable to do it on their own, he said.

Finance Minister Nirmala Sitharaman will present the complete budget for the fiscal year 2025 in July. As usual, taxpayers have an extensive list of desired items for the finance minister. Senior citizens make up a significant portion of the tax-paying demographic in India since they also earn income, often in passive ways. Nevertheless, with the rising cost of living, senior citizens might feel that the existing income tax benefits need to be increased. Three experts tell ET Wealth Online what senior citizens want from the upcoming Union Budget 2024. Also read: Section 80C deduction in Budget 2024: Will the government increase Section 80C limit under the old income tax regime in Budget?

Sebi) on Friday proposed that mutual funds should disclose risk adjusted return of their schemes to help investors take informed investment decision. "… it is felt that the risk adjusted return (RAR) of a scheme portfolio represents a more holistic measure of the scheme's performance because it quantifies the amount of return generated by a mutual fund scheme for each unit of risk taken to achieve that return," Sebi said in a discussion paper. The current regulatory framework does not mandate disclosure of RAR along with the returns of a mutual fund scheme.

The former CEO of Brazilian retail giant Americanas, Miguel Gutierrez, was arrested Friday in Madrid, and stands accused of participating in a 25 billion reais ($4.5 billion) fraud scheme

Impose a wealth tax on the super-rich! The call for a wealth tax on the super-rich arises frequently from citizens around the world, but, unfortunately, it has not yet been addressed by the authorities concerned. This demand resurfaces time and again, only to fade into the background. Over the past two decades, the issue of taxing the ultra-rich has been widely debated and highlighted by the media as well.

NEW DELHI : As India's insurance regulator seeks to insure every citizen by 2047, the life insurance industry wants the government to add more incentives to increase penetration in the Union Budget 2024-25. The industry believes that the incentives would not only make insurance affordable, but would also facilitate long-term funds for investing in key areas of the economy. “India’s infrastructure sector is poised for a significant growth and requires a huge investment to support that growth.

Sebi has allowed up to 100 per cent aggregate contribution by non-resident Indians, Overseas Citizens of India, Resident Indians in the corpus of FPIs that are based out of International Financial Services Centre (IFSC). The move is expected to enhance investment by Foreign Portfolio Investors (FPIs) in India. In a circular issued on Thursday, Sebi said it has amended FPI rules to «provide flexibility of having up to 100 per cent aggregate contribution by non-resident Indians (NRIs), Overseas Citizens of India (OCIs) and Resident Indians (RI) Individuals in the corpus of FPIs based in IFSCs in India and regulated by International Financial Services Centres Authority (IFSCA)».

Taiwan has urged its citizens to avoid travel to China and the semi-autonomous Chinese territories of Hong Kong and Macao following threats from Beijing to execute supporters of the self-governing island democracy's independence. Spokesperson and deputy head of the Mainland Affairs Council Liang Wen-chieh issued the advisory at a news conference Thursday. That came amid growing threats from China, which claims Taiwan as its own territory to be annexed by force if necessary.

FBI is on the lookout for Ruja Ignatova who is popularly known as the cryptoqueen. She has been on the FBI’s most wanted list since 2022 for fraud and money laundering. Bulgaria has also announced its decision to prosecute her in absentia. Her whereabouts are not known. This appears to be a case out of a crime thriller. According to the investigation agencies, she is known to change her appearances and move about in various cities across the world. It has been reported that she disappeared in 2017.

India's largest and third leopard safari was opened to the public at Bannerghatta Biological Park (BBP), located 25 kilometers south of Bengaluru. The leopard safari, inaugurated on Wednesday, currently houses eight leopards, with plans to increase this number soon. The 20-hectare safari is secured with railway barricades and enclosed with 4.5-meter-tall chain-link mesh and mild steel sheets to ensure the leopards remain within the boundaries The new leopard safari is part of BBP's overall safari experience, which includes various other attractions.

₹1 trillion in premiums, growing by 20.2%. Yet, 73% of India's population lacks health insurance. With medical inflation at 14%, promoting health insurance is critical.

Please clarify the tax liability and necessary form/return for a US citizen to get his share of an ancestral property being sold. My Sister is a US citizen withher share in her father's property inherited through a Will. Please clarify the tax liability, the ITR to be filed, and how the Indian Rupee will be converted to US dollars. Please also guide us through the remittance process and the law under RBI/FEMA, etc.Answer: There is no tax liability when one inherits any asset.

fixed deposit (FD) interest rates in India have seen an upward trend. Certain banks are now providing rates as high as 8.25% for senior citizens and 7.75% for the general public. Many individuals opt for FDs as a reliable means to secure a consistent income, avoiding the fluctuations often found in stocks or other market-based investments.Unlike equities, where dividends can vary, FDs provide a stable interest rate that remains unchanged from the time of deposit.

Bulgaria says it plans to file charges in absentia against Ruja Ignatova for one of the largest crypto fraud schemes in history and will take steps to seize her assets it said were illegally acquired

Amit Shah on Wednesday hailed Speaker Om Birla for moving a resolution in Lok Sabha condemning the imposition of Emergency in 1975 by former prime minister Indira Gandhi and said it has exposed the «anti-democratic» thinking of the Congress which harmed the major pillars of democracy like «judiciary, bureaucracy and media». Shah also said that Lok Sabha remembered the Emergency, which was an «Era of Injustice» and expressed its sympathy to the poor, Dalits and backward people, who had to suffer the exploitation and atrocities of the then Indira Gandhi government, when the rights of the citizens of the country were destroyed and their freedom was snatched away. The home minister said many sensitive amendments made in the Constitution during the dark period of Emergency expose the dictatorial mentality of the Congress which centralised all powers in one person. «It (resolution) has exposed the anti-democratic thinking of the Congress which has harmed the major pillars like judiciary, bureaucracy and media, has condemned the cruelty of Congress in imprisoning lakhs of opposition leaders for more than one and a half year without any reason,» Shah wrote in a post on X in Hindi with hashtag #EmergencyHorrors.

French consumers are feeling less confident about their prospects amid surprise elections, a fresh headwind for the country’s fragile economic recovery. A measure of confidence compiled by France’s statistics agency fell to 89 in June from 90 in May, according to a survey released Wednesday, in which a reading of 100 represents the long-term average for consumer sentiment. Consumers reported worsening feelings for the quality of living in France in the months ahead, as well as for their own future savings’ prospects and willingness to make major purchases.

young people are reluctant to join up. And it is not just Europe that is struggling with recruitment. In and around the world’s conflict hotspots the question of how to get more people into uniform is vital.

prime minister Narendra Modi said that the event ‘highlighted how the democracy was strangled’ and ‘exemplified what a dictatorship looks like.’Taking to X (previously Twitter), the PM said, “I am glad that the Honourable Speaker strongly condemned the Emergency, highlighted the excesses committed during that time and also mentioned the manner in which democracy was strangled. It was also a wonderful gesture to stand in silence in honour of all those who suffered during those days."“The Emergency was imposed 50 years ago but it is important for today's youth to know about it because it remains a fitting example of what happens when the Constitution is trampled over, public opinion is stifled and institutions are destroyed.