HENCY R SHAH AND ASSOCIATES

  India's forex reserves ease after hitting over nine-month highs India's forex reserves dropped by USD 2.164 billion to USD 584.248 billion for the week ended April 21, the Reserve Bank said on Friday.  In the previous reporting week, the overall kitty had risen by USD 1.657 billion to USD 586.412 billion.  It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion. The reserves have been declining as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments. For the week ended April 21, the foreign currency assets, a major component of the reserves, decreased by USD 2.146 billion to USD 514.489 billion, according to the Weekly Statistical Supplement released by the RBI. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold rese...

Reliance is on a War with every large business in India   Mukesh Ambani's Reliance is making bold moves across India's top industries. He is acquiring one industry at a time and keeps the customer on his own side. Jio 4G disrupted Indian telecommunication industry and killed many players, but customers love it! Jio TV is now taking over Indian OTT with free IPL, almost killed Hotstar, but customers love it! This is crazy, but it's happening! Here's a snapshot of how they're taking on the biggest players targeting the largest market share: 📈  Finance - Jio Financial Services vs Bajaj Finance Market Size: $350B | Growth: 22% | Leader: Bajaj Finance (30%)   🥤  Soft Drink - Campa Cola vs Coca-Cola Market Size: $8B | Growth: 9% | Leader: Coca-Cola (40%)   💄  Cosmetics - Tira vs Nykaa Market Size: $20B | Growth: 15% | Leader: Nykaa (25%)   👗  Clothing - Ajio vs Myntra Market Size: $70B | Growth: 12% | Leader: Myntra (35%)   🎬  Streaming -...

“Massive Cyber Attack Targets 12,000 Indian Government Websites: National Security at Risk” A hacking group known as “Hacktivist Indonesia” has announced its intention to target 12,000 Indian government websites in the near future. The Ministry of Home Affairs’ Indian Cybercrime Coordination Centre (I4C) has circulated an alert to all agencies, Central and State government wings, stating that the group has circulated a list of websites they plan to attack. While authorities have noted that the hackers could be operating within or outside the country, the location or origin of ‘Hacktivist Indonesia’ remains unknown. The group has been linked to cyber attacks in Sweden, Israel and the US. However, the Indian government has reassured the public that its websites are “updated” and “capable” of handling such threats, and the alert was circulated on the basis of inputs received by its Cyber Threat Intelligence wing following open-source intelligence. The list reportedly includes thousands of...

"Empowering Entrepreneurs: Celebrating the 8th Year of Mudra Loans and counting" MUDRA loan is a financial initiative launched by the Government of India on 8th April 2015, to provide financial support to small and medium enterprises (SMEs) in India. MUDRA stands for Micro Units Development and Refinance Agency Ltd. It is a subsidiary of the Small Industries Development Bank of India (SIDBI) and acts as a refinancing agency for microfinance institutions, which provide loans to small businesses. The primary objective of MUDRA loan is to promote entrepreneurship and boost the growth of small businesses in India by providing them with easy access to credit. The loan scheme is available for various sectors such as manufacturing, trading, services, and agriculture. MUDRA loans are classified into three categories based on the loan amount, namely, Shishu, Kishor, and Tarun. Shishu: This category covers loans up to INR 50,000, which are typically provided to small businesses that ar...

New financial year:  N ew rules for investors From April 1, new income tax rates will come into effect. From now on, the new tax regime will be the default regime. Under the new tax regime, people earning up to Rs 7 lakhs per annum don’t have to pay taxes. It is the beginning of the new financial year 2023-24, individuals and investors should note a couple of significant amendments that the Central government would be following now. 1)        New tax regime From April 1, new income tax rates will come into effect. From now on, the new tax regime will be the default regime. People who want to save taxes under the old regime, need to declare it in their forms. Under the new tax regime, the basic exemption limit has been raised to Rs 3 lakh from Rs 2.5 lakh. The tax rebate has been extended on income up to Rs 7 lakh as per Section 87A, as against Rs 5 lakh.   2)        Changes in Income Tax slabs The Union Budget 20...