The recent hike in the Tax Collected at Source (TCS) rate from 5% to 20% in Budget 2023, along with the existing cap of $250,000 on remittances under the Liberalised Remittance Scheme (LRS) in India, has made overseas investment challenging for the common citizen. However, for the nation’s high net-worth
HSBC has recently unveiled its Global Private Banking (GPB) business in India, with the aim of catering to high-net-worth (HNW) and ultra-high-net-worth (UHNW) professionals, entrepreneurs, and their families. This move underscores HSBC’s commitment to becoming a leader in wealth management across Asia, offering top-tier wealth solutions, global private banking expertise,
Govt hopeful of rise in FDI inflows in coming months Synopsis FDI equity inflows fell nearly a quarter to $10.3 billion in the quarter to September 2022 from $13.6 billion a year earlier. In the first half of this financial year, FDI equity inflows shrank 14% to $26.91 billion from
