Bangladesh is facing pressing economic challenges with a rising income gap. Employment in key sectors like ready-made garments has stagnated. Many are struggling to make ends meet. Can the interim leader Muhammad Yunus be able to revive Bangladesh's economy?

Can Muhammud Yunus Put Bangladesh's Economy Back on Track?

Pakistan is seeking an additional $1.4 billion loan from China as it grapples with a severe financial crisis. This request highlights the country's reliance on external financial support to stabilize its economy amidst rising inflation and dwindling foreign reserves. The loan aims to help meet urgent fiscal needs and maintain essential services during a challenging economic period.

Pakistan Requests China To Raise Limit Of Trade Facility To $5.7 Billion

Pakistan Seeks Additional $1.4 Billion Loan From China Amid Ongoing Financial Crisis

Set to test relations with India, Nepal has awarded a contract to a Chinese firm for printing currency notes featuring a political map that includes some Indian territories that Nepal claims as its own. Watch in for more details!

Nepal's New Controversial Currency Notes To Cost Nearly $9 Million

As fast food gains popularity among young Indians, traditional diets are being replaced by quicker, more affordable options. This shift raises questions about whether financial pressures are driving the change in eating habits.

Young Indians Embrace Fast Food: Is Money Driving the Shift from Traditional Diets?

In a world where money fuels dreams and drives ambitions, it’s not just about having it, it’s about mastering your mindset around money. Because at the end of the day, it’s not just about the cash flow...it’s all about mind over money.

Mind Over Money And Ambition Over Anxiety

A US couple from the state of Arkansas&nbsp;has been charged after they attempted to sell their baby boy for $1,000 and cans of beer, according to the filed court documents. The parents, identified as&nbsp;Darien Urban (21) and Shalene Ehlers (20), signed a letter granting custody of their kid and handed him off to another person.

Both Urban and Ehlers were arrested by the Benton County Sheriff's Office earlier this month. They are facing felony charges of endangering the welfare of a minor and attempting to negotiate the&nbsp;relinquishment of a minor for adoption.

Detective Wes Grube, who is leading the investigation, said the couple self-wrote the twisted contract letter with a&nbsp;“no changing ya’lls mind" clause.&nbsp;

“I, Darien Urban and Shalene Ehlers, are signing our rights over to [Cody Martin] of our baby for $1,000 on 9/21/24," read the letter.&nbsp;

“After signing this there will be no changing y’all two’s minds and to never contact again," it added.&nbsp;

Notably, the arrest took place after the Hide Away Campground manager contacted law enforcement agencies to report that the couple was attempting to sell their baby to a resident onsite, identified as Ricky Crawford.&nbsp;

<a href="https://www.wionews.com/videos/child-marriage-americas-secret-problem-716808">Watch |&nbsp;Child Marriage: America's secret problem</a>

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Court documents state that&nbsp;Crawford had earlier visited Urban and Ehlers and offered to take the baby for the night in exchange for several cans of beer.&nbsp;

Crawford, heavily intoxicated and slurred in his speech, later told the cops that he took the baby from the duo, then gave him to Martin, who was staying in a camper onsite as he was “concerned about the welfare” of the child.

Urban and Ehlers approached Martin afterwards and offered to sell the baby for $1,000. Martin said although an agreement was drafted, no money was exchanged at the time.&nbsp;He stated that he would arrange for a cashier’s check for $1,000.

According to an&nbsp;affidavit cited by WREG News Channel 3, another witness named&nbsp;Felicia Ayers, noted a strong ammonia and fecal odour coming from the baby, who had a dirty diaper.&nbsp;

After changing the baby, she observed severe diaper rash, blisters and swelling, and documented the injuries with photographs.

<a href="https://www.wionews.com/trending/widow-gives-birth-to-miracle-baby-nine-months-after-tragic-death-of-husband-760921">Also read |&nbsp;Widow gives birth to 'miracle' baby nine months after husband’s tragic death on honeymoon</a>

This wasn't the couple's first rodeo with the law. Urban has a rap sheet which includes&nbsp;two counts of felony theft received&nbsp;in Bentonville in 2024 and a misdemeanour domestic battery charge in Rogers in 2023.

Urban was still serving his three-year probation at the time of being detained. Meanwhile, Ehlers was arrested for misdemeanour shoplifting in Fayetteville in 2024.

(With inputs from agencies)

A US couple from the state of Arkansas has been charged after they attempted to sell their baby boy for $1,000 and cans of beer, according to the filed court documents.

A US couple from the state of Arkansas has been charged after they attempted to sell their baby boy for $1,000 and cans of beer, according to the filed court documents. The parents, identified as Darien Urban (21) and Shalene Ehlers (20), signed a letter granting custody of their kid and handed him off to another person. Both Urban and Ehlers were arrested by the Benton County Sheriff's Office earlier this month. They are facing felony charges of endangering the welfare of a minor and attempting to negotiate the relinquishment of a minor for adoption. Detective Wes Grube, who is leading the investigation, said the couple self-wrote the twisted contract letter with a “no changing ya’lls mind" clause. “I, Darien Urban and Shalene Ehlers, are signing our rights over to [Cody Martin] of our baby for $1,000 on 9/21/24," read the letter. “After signing this there will be no changing y’all two’s minds and to never contact again," it added. Notably, the arrest took place after the Hide Away Campground manager contacted law enforcement agencies to report that the couple was attempting to sell their baby to a resident onsite, identified as Ricky Crawford. Watch | Child Marriage: America's secret problem × Court documents state that Crawford had earlier visited Urban and Ehlers and offered to take the baby for the night in exchange for several cans of beer. Crawford, heavily intoxicated and slurred in his speech, later told the cops that he took the baby from the duo, then gave him to Martin, who was staying in a camper onsite as he was “concerned about the welfare” of the child. Urban and Ehlers approached Martin afterwards and offered to sell the baby for $1,000. Martin said although an agreement was drafted, no money was exchanged at the time. He stated that he would arrange for a cashier’s check for $1,000. According to an affidavit cited by WREG News Channel 3, another witness named Felicia Ayers, noted a strong ammonia and fecal odour coming from the baby, who had a dirty diaper. After changing the baby, she observed severe diaper rash, blisters and swelling, and documented the injuries with photographs. Also read | Widow gives birth to 'miracle' baby nine months after husband’s tragic death on honeymoon This wasn't the couple's first rodeo with the law. Urban has a rap sheet which includes two counts of felony theft received in Bentonville in 2024 and a misdemeanour domestic battery charge in Rogers in 2023. Urban was still serving his three-year probation at the time of being detained. Meanwhile, Ehlers was arrested for misdemeanour shoplifting in Fayetteville in 2024. (With inputs from agencies)

US couple arrested for allegedly selling their baby for cans of beer and $1,000

The International Monetary Fund (IMF) has approved a $7 billion loan for Pakistan, over two months after reaching an agreement. Prime Minister Shehbaz Sharif on Wednesday praised the deal, thanking IMF chief Kristalina Georgieva and her team for their support.

Pakistan: IMF Approves $7 Billion Loan For Cash Starved Country

India is reportedly in talks with several countries across Africa and South America to help them build digital payment systems modelled after unified payments interface, or, upi. The national payments corporation of India’s international arm, npci international payments limited, is leading the effort.

India Drives Global Digital Payment Revolution

Our next segment puts the spotlight on the concept of mind over money and adventure over profits. Dive into the world of India INC. Who is heading towards the great outdoors to invigorate their senses and spark innovation in the boardroom?

Mind over money & adventure over cubicles

Radhika Gupta, Managing Director and Chief Executive Officer of Edelweiss Mutual Fund,&nbsp; explained why she chose not to buy a luxury car despite having the money for it. She admires high-end vehicles, but being aware of how high-end cars depreciate, she chooses an economical car and still gets excited about the Zomato coupon.

In a recent podcast, a Shark Tank judge shared how growing up in a middle-class family and not being able to own designer brands and luxury items made her feel less confident and insecure about herself. As one of the youngest CEOs in India, she no longer feels the need to prove her worth through expensive purchases.

“I can’t bring myself to buy a luxury car. I can afford it, but I just can’t,” Gupta shared. “Every time I think about buying one with a bonus, I remind myself that a car is a depreciating asset. I don’t even drive, and the moment I take it out, 30 per cent of its value is gone.”

Recalling the initial stage of her life when she was about 18 years old, fresh out of college, where people made her feel insecure about not being able to afford expensive things, she said, “Now, if someone asks why I drive an Innova, I can confidently say, ‘My life, my choice.’ I no longer feel the need to prove anything.”

Gupta shared a post on the X platform, highlighting how the younger generation is making risky financial decisions to sustain a luxurious lifestyle. “I have seen people in their 20s saying they don’t need to work because they are busy doing F&amp;O. Young women who say their lifestyle and handbags are funded by trading gains,” she wrote.

In an X post, she added a screenshot of the Economic Survey of 2023-24, explaining, “The Economic Survey highlights this in some very strong language. Other regulators have also rightly and repeatedly warned us about this.” She stated that this sort of liquidity is alarming for individuals as well as the economy, and it is high time for society to take action.

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My statement about not being able to buy a fancy car seems to be everywhere, and lots of car companies are sending fun messages 😀 
 
But the real idea was to talk about the deeper parts of money. About our fears and insecurities that influence how we save and spend, about how we…
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&nbsp;

Stunned by how much attention her statement has sparked and how the public is taking it humorously, Gupta shared a post on X explaining the real motive behind her words. “The real idea was to talk about the deeper parts of money. About our fears and insecurities that influence how we save and spend, about how we improve our relationship with money and feel comfortable with the decisions we make. A difficult topic, but as important if not more than discussing investing.” 
&nbsp;

Radhika Gupta, Managing Director and Chief Executive Officer of Edelweiss Mutual Fund, explained why she chose not to buy a luxury car despite having the money for it.

Radhika Gupta, Managing Director and Chief Executive Officer of Edelweiss Mutual Fund, explained why she chose not to buy a luxury car despite having the money for it. She admires high-end vehicles, but being aware of how high-end cars depreciate, she chooses an economical car and still gets excited about the Zomato coupon. In a recent podcast, a Shark Tank judge shared how growing up in a middle-class family and not being able to own designer brands and luxury items made her feel less confident and insecure about herself. As one of the youngest CEOs in India, she no longer feels the need to prove her worth through expensive purchases. “I can’t bring myself to buy a luxury car. I can afford it, but I just can’t,” Gupta shared. “Every time I think about buying one with a bonus, I remind myself that a car is a depreciating asset. I don’t even drive, and the moment I take it out, 30 per cent of its value is gone.” Recalling the initial stage of her life when she was about 18 years old, fresh out of college, where people made her feel insecure about not being able to afford expensive things, she said, “Now, if someone asks why I drive an Innova, I can confidently say, ‘My life, my choice.’ I no longer feel the need to prove anything.” Gupta shared a post on the X platform, highlighting how the younger generation is making risky financial decisions to sustain a luxurious lifestyle. “I have seen people in their 20s saying they don’t need to work because they are busy doing F&O. Young women who say their lifestyle and handbags are funded by trading gains,” she wrote. In an X post, she added a screenshot of the Economic Survey of 2023-24, explaining, “The Economic Survey highlights this in some very strong language. Other regulators have also rightly and repeatedly warned us about this.” She stated that this sort of liquidity is alarming for individuals as well as the economy, and it is high time for society to take action. My statement about not being able to buy a fancy car seems to be everywhere, and lots of car companies are sending fun messages 😀 But the real idea was to talk about the deeper parts of money. About our fears and insecurities that influence how we save and spend, about how we… — Radhika Gupta (@iRadhikaGupta) September 16, 2024 × Stunned by how much attention her statement has sparked and how the public is taking it humorously, Gupta shared a post on X explaining the real motive behind her words. “The real idea was to talk about the deeper parts of money. About our fears and insecurities that influence how we save and spend, about how we improve our relationship with money and feel comfortable with the decisions we make. A difficult topic, but as important if not more than discussing investing.”

Radhika Gupta clarifies why luxury cars are depreciating assets

In today’s economy, control over capital is more influential than traditional asset ownership. Millennials are driving this shift by leveraging financial markets, technology, and investment strategies rather than focusing on owning physical assets. They excel in managing and investing capital, evident in the success of tech giants and startups that thrive on asset-light models. But what do experts have to say about this financial model? That's what this report decodes.

Redefining capitalism in the 21st century

A Chinese woman faked miscarriages and used forged medical papers to claim maternity insurance worth 66,200 yuan (US$9,300) in Shanghai. The weird incident has attracted massive attention on social media platforms.

A key part of the social insurance system of China is maternity indemnity.&nbsp;

The insurance is funded by employers and covers medical expenses which are related to childbirth and pregnancy and also provide women with financial support during maternity leave.

The 42-year-old woman works for a foreign company in Shanghai and earns more than 30,000 yuan (US$4,200) as monthly salary, reported Shanghai TV. The woman had studied telecommunications and computer science at university.

<h2>How did the woman start claiming fake maternity insurance?</h2>

When the woman was on maternity leave last December, she recalled how she successfully claimed insurance after she suffered a miscarriage two years ago. This incident inspired her to start faking.

Also Read:&nbsp;<a href="https://www.wionews.com/entertainment/lifestyle/news-heart-attacks-more-difficult-to-detect-in-women-than-men-experts-explain-why-754009">Heart attacks more difficult to detect in women than men: Experts explain why</a>

With the help of computer software, the woman created false medical documents which included a discharge summary and a maternity certificate, in which she claimed that she had suffered a miscarriage in the hospital.

Shanghai Prosecutor Gong Xiaoting said that the online insurance application system of the country has been designed for convenience and can be exploited illegally by criminals with the help of photo-editing technology.

The woman submitted the online insurance claims twice using forged medical papers and received around 66,200 yuan in maternity benefits.

After every claim, the woman destroyed the related computer records and paper documents.

In 2024, she again made an attempt to use the same method and, with a fabricated miscarriage report applied for more than 40,000 yuan (US$5,600) maternity insurance money, however, her claim was rejected.

Also Read:&nbsp;<a href="https://www.wionews.com/entertainment/lifestyle/news-cancer-screening-americans-spend-a-whopping-43-billion-every-year-says-study-747635">Cancer screening: Americans spend a whopping $43 billion every year, says study&nbsp;</a>

She again applied for maternity insurance money in February after the birth of her only child. This time the application was legitimate.

When her document was reviewed, the officials found she had filed five maternity insurance claims in a span of four years and there were various suspicious similarities in the documents. Her case was reported to the police.&nbsp;

The woman then turned herself in and gave back the entire fraudulently obtained money.

"As an older pregnant woman with poor health, I worried about medical costs. In desperation, I impulsively faked miscarriages to get the insurance money. I have already resigned from my job and I deeply regret what I have done," she said.&nbsp;

She was given one-and-a-half-year suspended jail term by the court on August 16 because of her voluntary confession.

(With inputs from agencies)

A Chinese woman faked miscarriages and used forged medical papers to claim maternity insurance worth 66,200 yuan (US$9,300) in Shanghai. The weird incident has attracted massive attention on social media platforms.

A Chinese woman faked miscarriages and used forged medical papers to claim maternity insurance worth 66,200 yuan (US$9,300) in Shanghai. The weird incident has attracted massive attention on social media platforms. A key part of the social insurance system of China is maternity indemnity. The insurance is funded by employers and covers medical expenses which are related to childbirth and pregnancy and also provide women with financial support during maternity leave. The 42-year-old woman works for a foreign company in Shanghai and earns more than 30,000 yuan (US$4,200) as monthly salary, reported Shanghai TV. The woman had studied telecommunications and computer science at university. How did the woman start claiming fake maternity insurance? When the woman was on maternity leave last December, she recalled how she successfully claimed insurance after she suffered a miscarriage two years ago. This incident inspired her to start faking. Also Read: Heart attacks more difficult to detect in women than men: Experts explain why With the help of computer software, the woman created false medical documents which included a discharge summary and a maternity certificate, in which she claimed that she had suffered a miscarriage in the hospital. Shanghai Prosecutor Gong Xiaoting said that the online insurance application system of the country has been designed for convenience and can be exploited illegally by criminals with the help of photo-editing technology. The woman submitted the online insurance claims twice using forged medical papers and received around 66,200 yuan in maternity benefits. After every claim, the woman destroyed the related computer records and paper documents. In 2024, she again made an attempt to use the same method and, with a fabricated miscarriage report applied for more than 40,000 yuan (US$5,600) maternity insurance money, however, her claim was rejected. Also Read: Cancer screening: Americans spend a whopping $43 billion every year, says study She again applied for maternity insurance money in February after the birth of her only child. This time the application was legitimate. When her document was reviewed, the officials found she had filed five maternity insurance claims in a span of four years and there were various suspicious similarities in the documents. Her case was reported to the police. The woman then turned herself in and gave back the entire fraudulently obtained money. "As an older pregnant woman with poor health, I worried about medical costs. In desperation, I impulsively faked miscarriages to get the insurance money. I have already resigned from my job and I deeply regret what I have done," she said. She was given one-and-a-half-year suspended jail term by the court on August 16 because of her voluntary confession. (With inputs from agencies)

Chinese woman claims maternity insurance five times by faking miscarriages

Why do Millennials not want kids? Is money a big reason? Molly Gambhir tells you what a new survey reveals.

Is money a big reason why Millennials don't want to have kids?

The AI-driven bull market run too far too fast AI lead stocks have taken severe beating in recent weeks so is that a healthy sign is generative AI worth the money it costs.

Is generative AI worth the money?

Meta-owned Facebook and Instagram were back up after a two-hour outage impacted thousands of users globally. While the company blamed it on a technical issue, reports predict that the outage must have cost CEO Mark Zuckerberg almost $100 million in revenue loss.

Gravitas | Meta Blackout: How much money did Mark Zuckerberg lose?

In a world where social media and 24/7 news cycles dominate our attention, millennials and Gen Zers are grappling with a new phenomenon: money dysmorphia. Despite living in an era of unprecedented access to information, many young adults find themselves plagued by feelings of financial insecurity and inadequacy. But what is money dysmorphia and how can you overcome it?

How to overcome money dysmorphia?

India's central bank has extended the deadline for Paytm payments bank to wind down to March 15.

RBI extends transaction curbs deadline to March 15

India’s digital public goods are powering a transformative shift in the way financial services are delivered. In this regard, the recent arrival of Account Aggregators (AAs) is another shot in the arm for financial inclusion and democratisation.&nbsp;

AAs are streamlining how we manage and share our financial data. The AA framework heralds a new age of financial inclusivity and efficiency. It allows individuals to securely aggregate and share their financial information with banks and other financial institutions. The ease in data-sharing simplifies the process of accessing financial services and empowers consumers by placing them in control of their personal data.

What Are Account Aggregators?

Account Aggregators are digital intermediaries—essentially, non-lending NBFCs.

Their job is to facilitate the secure and consent-based sharing of financial data between individuals and financial institutions. Imagine needing a loan and being able to share your financial history with the bank digitally without the hassle of paperwork. AAs make this possible.

They collect data from various sources—banks, mutual funds, insurance companies—and with your permission share it with entities requiring it, such as lenders.

This mechanism significantly reduces the time and cost associated with manual data verification, thus leading to faster loan processing and sanction.&nbsp;

The Need forAAs

AAs address the challenge of financial fraud by ensuring data is directly sourced from financial institutions, mitigating the risk associated with forged documents.

Secondly, they bridge the gap in financial inclusion. For individuals in remote areas or those without a formal credit history, traditional banking services may be out of reach. AAs democratise access to financial services by leveraging digital data.

This is making it possible for more people to access loans and other services based on their financial behaviour rather than just their credit history.

Empowering Consumers Through Consent

Consumer empowerment is central to the AA framework. Before the ongoing digitalisation of finance, sharing personal information was cumbersome and fraught with privacy concerns.

Remember the days of printing several photocopies of your financial statements, and income and address proofs, and sharing them with strangers?

Now, with all this information available digitally, fintech innovation such as AAs is allowing for the data to be shared directly from its source, such as your bank. Also, consumers can dictate who accesses their data, for how long, and for what purpose.

This consent-based model not only protects privacy but also puts individuals in the driver's seat of their financial journey. An example of this empowerment is the ability for consumers to instantly revoke access.&nbsp;

Simplifying Account Openings&nbsp;

The AA ecosystem is streamlining the way financial accounts are opened and managed.

By using AAs, consumers can undergo a digital KYC process, linking their various financial accounts—from savings to investments—under one umbrella.

This consolidation can simplify the process of applying for financial services such as loans, investing, or purchasing insurance. The digital KYC process through AAs can reduce the account opening time from days to mere minutes.

The Future of Financial Services with AAs

The potential of AAs extends beyond just simplifying data sharing; it's about revolutionising finance again—just as UPI had done some years ago.

By integrating more forms of financial data, such as investments and insurance, AAs are set to offer a more holistic view of an individual's financial health.

This broader perspective on consumer data will enable lenders to make more informed decisions, which will help reduce the risks around frauds and NPAs. It's a win-win: consumers enjoy easier access to services, while institutions benefit from a deeper understanding of their customers' financial behaviours.

India's embrace of Account Aggregators is a significant step towards a more inclusive and efficient financial ecosystem. AAs are unlocking new possibilities for consumers and financial institutions alike. 
&nbsp;

India’s digital public goods are powering a transformative shift in the way financial services are delivered. In this regard, the recent arrival of Account Aggregators (AAs) is another shot in the arm for financial inclusion and democratisation.

India’s digital public goods are powering a transformative shift in the way financial services are delivered. In this regard, the recent arrival of Account Aggregators (AAs) is another shot in the arm for financial inclusion and democratisation. AAs are streamlining how we manage and share our financial data. The AA framework heralds a new age of financial inclusivity and efficiency. It allows individuals to securely aggregate and share their financial information with banks and other financial institutions. The ease in data-sharing simplifies the process of accessing financial services and empowers consumers by placing them in control of their personal data. What Are Account Aggregators? Account Aggregators are digital intermediaries—essentially, non-lending NBFCs. Their job is to facilitate the secure and consent-based sharing of financial data between individuals and financial institutions. Imagine needing a loan and being able to share your financial history with the bank digitally without the hassle of paperwork. AAs make this possible. They collect data from various sources—banks, mutual funds, insurance companies—and with your permission share it with entities requiring it, such as lenders. This mechanism significantly reduces the time and cost associated with manual data verification, thus leading to faster loan processing and sanction. The Need forAAs AAs address the challenge of financial fraud by ensuring data is directly sourced from financial institutions, mitigating the risk associated with forged documents. Secondly, they bridge the gap in financial inclusion. For individuals in remote areas or those without a formal credit history, traditional banking services may be out of reach. AAs democratise access to financial services by leveraging digital data. This is making it possible for more people to access loans and other services based on their financial behaviour rather than just their credit history. Empowering Consumers Through Consent Consumer empowerment is central to the AA framework. Before the ongoing digitalisation of finance, sharing personal information was cumbersome and fraught with privacy concerns. Remember the days of printing several photocopies of your financial statements, and income and address proofs, and sharing them with strangers? Now, with all this information available digitally, fintech innovation such as AAs is allowing for the data to be shared directly from its source, such as your bank. Also, consumers can dictate who accesses their data, for how long, and for what purpose. This consent-based model not only protects privacy but also puts individuals in the driver's seat of their financial journey. An example of this empowerment is the ability for consumers to instantly revoke access. Simplifying Account Openings The AA ecosystem is streamlining the way financial accounts are opened and managed. By using AAs, consumers can undergo a digital KYC process, linking their various financial accounts—from savings to investments—under one umbrella. This consolidation can simplify the process of applying for financial services such as loans, investing, or purchasing insurance. The digital KYC process through AAs can reduce the account opening time from days to mere minutes. The Future of Financial Services with AAs The potential of AAs extends beyond just simplifying data sharing; it's about revolutionising finance again—just as UPI had done some years ago. By integrating more forms of financial data, such as investments and insurance, AAs are set to offer a more holistic view of an individual's financial health. This broader perspective on consumer data will enable lenders to make more informed decisions, which will help reduce the risks around frauds and NPAs. It's a win-win: consumers enjoy easier access to services, while institutions benefit from a deeper understanding of their customers' financial behaviours. India's embrace of Account Aggregators is a significant step towards a more inclusive and efficient financial ecosystem. AAs are unlocking new possibilities for consumers and financial institutions alike.

Expert Voice | Account Aggregators: A leap towards financial democratisation

The Reserve Bank of India (RBI) has issued a directive to prohibit Paytm Payments Bank Limited (PPBL) from accepting deposits or top-ups in any customer account, including wallets and FASTags, effective from February 29 onwards.

India RBI hits Paytm payments bank

Can money buy happiness? A recent survey by empower and the Harris poll tried to find answers to this much-debated question. We explore the price tags each generation attaches to happiness and the evolving dynamics of financial well-being.

Americans link $1.2m to happiness in survey results

Amid China's slowing economy, geopolitical tussle with the United States and low interest rates, foreign businesses have started pulling money out of the market of China at a faster rate compared to what they have been putting in, as per official data. 
 
The country's economic potential has been placed in a cloud of doubt&nbsp;amid its deteriorating relations with the United States. As the world's gaze remains on the crucial meeting to be held between US President Joe Biden and Chinese leader Xi Jinping, businesses are already appearing to move with caution. 
 
"Anxieties around geopolitical risk, domestic policy uncertainty and slower growth are pushing companies to think about alternative markets," stated Nick Marro from the Economist Intelligence Unit (EIU), while speaking to BBC. 
 
In the last three months, a deficit of nearly $11.8 billion&nbsp;(£9.6bn) has been recorded by China in foreign investments till the end of September. This is the first time the country has recorded such deficits since the records started being maintained in 1998. 
 
This further suggests that the profits are not being reinvested by foreign companies in China, but are rather being pulled out of the country.

<h2>Chinese economy to witness growth or dip?</h2>

Swiss industrial machinery manufacturer Oerlikon's spokesperson stated, "China is currently facing slower growth and needs to make some corrections.” The company had pulled out $277 million from the country last year. 
 
"In 2022, we were one of the first companies to transparently communicate that we expect the economic slowdown in China to impact our business. Consequently, we began early to implement actions and measures to mitigate these effects,” the spokesperson added, as reported by BBC. 
 
China has been a major market for the firm. It had nearly 2,000 employees across the country which brought more than a third of its sales.

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/wion-business-wrap-chinas-economic-woes-argentinians-opt-for-old-clothes-more-658356">Wion Business Wrap | China's economic woes, Argentinians opt for old clothes &amp; more</a>

However, Oerlikon stated that the Chinese economy is still likely to grow by nearly 5 per cent in the next few years, “which is among the highest in the world." 
 
Since the pandemic, businesses have been facing challenges in their operations in the biggest market of the world due to the strictest lockdowns and the country's "zero-Covid" policy. 
 
The stringent rules have also led to disruption in many companies' supply chains, especially Apple which was manufacturing most of its iPhones in China. Since then, the firm has been diversifying its supply chain and shifting some production to India. 
 
As per Marro, the companies have been considering diversification because of escalating tensions between the United States and China amid the imposition of export restrictions on raw materials and technology which is required for producing advanced chips. 
 
"We aren't seeing many companies pulling out of China. Many of the big multinational firms have been in the market for decades, and they're not willing to give up the market share that they've spent 20, 30 or 40 years cultivating. But in terms of new investment, in particular, we are seeing a reassessment,” he stated.

<h2>Impact of low-interest rates making businesses take a U-turn?</h2>

Businesses have also been taking into account the impact of low interest rates. China also followed the trend of increasing rates sharply last year, just like other countries. 
 
Many major central banks, which include the European Central Bank and the US Federal Reserve, have increased their interest rates to tackle inflation. The increased cost of borrowing, which also gives higher returns, attracts foreign capital to the country. 
 
However, the country's policymakers have decreased the cost of borrowing to support its economy and real estate industry. This year, their currency yuan saw a depreciation of more than 5 per cent against the euro and dollar. 
 
The European Union Chamber of Commerce in China has stated that businesses are spending the money and not reinvesting the earnings made from the Chinese market back in the country.

WATCH |&nbsp;Foreign companies exit China, companies rethink China investments | World DNA

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"Those with excess cash and earnings in China have been increasingly transferring these funds overseas, where they will earn a higher investment return compared to investments in China,” it added.

<h2>Is uncertainty looming in China's financial future?</h2>

As per analysts, there is much uncertainty over the China-US ties and the country's interest rates. The central bank of China can move to decrease interest rates further this year for supporting its dwindling economy, stated Dan Wang, the chief economist of Hang Seng Bank China. 
 
If the interest rates are lowered, it will place more pressure on their currency. 
 
"There is very limited room for monetary easing right now because of the pressure of currency depreciation. If economic sentiment improves next month, it's safe to say that China will lower interest rates. But if sentiment doesn't improve, the central bank will have a very difficult decision to make,” she stated, as reported by BBC. 
 
Meanwhile, Marro hinted about businesses remaining cautiously optimistic about the meeting between Presidents Biden and Xi. 
 
"Direct meetings between the two presidents tend to exert a stabilising force on bilateral ties. We have also seen a flurry of US-China diplomatic engagement over the past couple of months, which has contributed to this feeling that both sides are aiming to put a floor under the relationship," he stated.

(With inputs from agencies)

Amid China's slowing economy, geopolitical tussle with the United States and low interest rates, foreign businesses have started pulling money out of the market of China at a faster rate compared to what they have been putting in, as per official data.

Amid China's slowing economy, geopolitical tussle with the United States and low interest rates, foreign businesses have started pulling money out of the market of China at a faster rate compared to what they have been putting in, as per official data. The country's economic potential has been placed in a cloud of doubt amid its deteriorating relations with the United States. As the world's gaze remains on the crucial meeting to be held between US President Joe Biden and Chinese leader Xi Jinping, businesses are already appearing to move with caution. "Anxieties around geopolitical risk, domestic policy uncertainty and slower growth are pushing companies to think about alternative markets," stated Nick Marro from the Economist Intelligence Unit (EIU), while speaking to BBC. In the last three months, a deficit of nearly $11.8 billion (£9.6bn) has been recorded by China in foreign investments till the end of September. This is the first time the country has recorded such deficits since the records started being maintained in 1998. This further suggests that the profits are not being reinvested by foreign companies in China, but are rather being pulled out of the country. Chinese economy to witness growth or dip? Swiss industrial machinery manufacturer Oerlikon's spokesperson stated, "China is currently facing slower growth and needs to make some corrections.” The company had pulled out $277 million from the country last year. "In 2022, we were one of the first companies to transparently communicate that we expect the economic slowdown in China to impact our business. Consequently, we began early to implement actions and measures to mitigate these effects,” the spokesperson added, as reported by BBC. China has been a major market for the firm. It had nearly 2,000 employees across the country which brought more than a third of its sales. ALSO READ | Wion Business Wrap | China's economic woes, Argentinians opt for old clothes & more However, Oerlikon stated that the Chinese economy is still likely to grow by nearly 5 per cent in the next few years, “which is among the highest in the world." Since the pandemic, businesses have been facing challenges in their operations in the biggest market of the world due to the strictest lockdowns and the country's "zero-Covid" policy. The stringent rules have also led to disruption in many companies' supply chains, especially Apple which was manufacturing most of its iPhones in China. Since then, the firm has been diversifying its supply chain and shifting some production to India. As per Marro, the companies have been considering diversification because of escalating tensions between the United States and China amid the imposition of export restrictions on raw materials and technology which is required for producing advanced chips. "We aren't seeing many companies pulling out of China. Many of the big multinational firms have been in the market for decades, and they're not willing to give up the market share that they've spent 20, 30 or 40 years cultivating. But in terms of new investment, in particular, we are seeing a reassessment,” he stated. Impact of low-interest rates making businesses take a U-turn? Businesses have also been taking into account the impact of low interest rates. China also followed the trend of increasing rates sharply last year, just like other countries. Many major central banks, which include the European Central Bank and the US Federal Reserve, have increased their interest rates to tackle inflation. The increased cost of borrowing, which also gives higher returns, attracts foreign capital to the country. However, the country's policymakers have decreased the cost of borrowing to support its economy and real estate industry. This year, their currency yuan saw a depreciation of more than 5 per cent against the euro and dollar. The European Union Chamber of Commerce in China has stated that businesses are spending the money and not reinvesting the earnings made from the Chinese market back in the country. WATCH | Foreign companies exit China, companies rethink China investments | World DNA "Those with excess cash and earnings in China have been increasingly transferring these funds overseas, where they will earn a higher investment return compared to investments in China,” it added. Is uncertainty looming in China's financial future? As per analysts, there is much uncertainty over the China-US ties and the country's interest rates. The central bank of China can move to decrease interest rates further this year for supporting its dwindling economy, stated Dan Wang, the chief economist of Hang Seng Bank China. If the interest rates are lowered, it will place more pressure on their currency. "There is very limited room for monetary easing right now because of the pressure of currency depreciation. If economic sentiment improves next month, it's safe to say that China will lower interest rates. But if sentiment doesn't improve, the central bank will have a very difficult decision to make,” she stated, as reported by BBC. Meanwhile, Marro hinted about businesses remaining cautiously optimistic about the meeting between Presidents Biden and Xi. "Direct meetings between the two presidents tend to exert a stabilising force on bilateral ties. We have also seen a flurry of US-China diplomatic engagement over the past couple of months, which has contributed to this feeling that both sides are aiming to put a floor under the relationship," he stated. (With inputs from agencies)

Explained: Why foreign businesses are pulling out money from China at such a fast rate?

Authorities have charged China's former deputy central bank governor, Fan Yifei, with bribery, China's state news agency Xinhua reported on Wednesday (Sep 27).

Fan, 59, is the highest-ranking official at the People's Bank of&nbsp;China&nbsp;to be prosecuted under President Xi Jinping's anti-graft drive over the past decade, in a campaign aimed at weeding out corrupt officials in the financial sector.

A native of Jiangsu province, Fan&nbsp;worked in the banking and finance sectors for several years and began serving as vice-governor of the People's Bank of China in February 2015

<a href="https://www.wionews.com/world/xi-jinping-tries-to-secure-his-throne-with-anti-corruption-drive-319556">Also read |&nbsp;Xi Jinping tries to secure his throne with anti-corruption drive</a>

Fan abused his positions at&nbsp;China&nbsp;Construction Bank, China&nbsp;Investment Corp., and the&nbsp;central&nbsp;bank to benefit others in exchange for a "particularly large amount" of bribes, Xinhua reported, without elaborating.

Reuters was not immediately able to reach Fan for comment.

<a href="https://www.wionews.com/videos/issues-china-is-facing-under-xi-jinping-639029">Watch |&nbsp;Issues China is facing under Xi Jinping</a>

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In June, Fan was expelled from the Communist Party and removed from his&nbsp;central&nbsp;bank post for serious violations of discipline and the law, state media reported.

He was placed under disciplinary review and supervisory investigation in November 2022 and was removed as vice-governor one month later.

WATCH WION LIVE HERE:&nbsp;

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Authorities have charged China's former deputy central bank governor, Fan Yifei, with bribery, China's state news agency Xinhua reported on Wednesday (Sep 27). Fan, 59, is the highest-ranking official at the People's Bank of China to be prosecuted under President Xi Jinping's anti-graft drive over the past decade, in a campaign aimed at weeding out corrupt officials in the financial sector.

Authorities have charged China's former deputy central bank governor, Fan Yifei, with bribery, China's state news agency Xinhua reported on Wednesday (Sep 27). Fan, 59, is the highest-ranking official at the People's Bank of China to be prosecuted under President Xi Jinping's anti-graft drive over the past decade, in a campaign aimed at weeding out corrupt officials in the financial sector. A native of Jiangsu province, Fan worked in the banking and finance sectors for several years and began serving as vice-governor of the People's Bank of China in February 2015 Also read | Xi Jinping tries to secure his throne with anti-corruption drive Fan abused his positions at China Construction Bank, China Investment Corp., and the central bank to benefit others in exchange for a "particularly large amount" of bribes, Xinhua reported, without elaborating. Reuters was not immediately able to reach Fan for comment. Watch | Issues China is facing under Xi Jinping × In June, Fan was expelled from the Communist Party and removed from his central bank post for serious violations of discipline and the law, state media reported. He was placed under disciplinary review and supervisory investigation in November 2022 and was removed as vice-governor one month later. WATCH WION LIVE HERE:

China: Central bank's former deputy governor faces prosecution for bribery charges

The National Investigation Agency (NIA) has unearthed a complex financial network linking Canada-based top Khalistani terrorists and gangsters to money generated in India through extortion, smuggling, and other illicit activities.

This nefarious wealth not only fuels their violent activities in both India and Canada, but also finds its way into unexpected investments, including yachts, movies, and even the Canadian Premier League.

The&nbsp;investigation further reveals that the money amassed by gangsters through extortion, smuggling and other illegal activities has also been funnelled to clubs and bars in Thailand as investment, accentuating the global scale of these financial activities, said a report&nbsp;in the Hindustan Times.

Also read |&nbsp;<a href="https://www.wionews.com/world/india-canada-row-us-accepts-sharing-intel-among-five-eyes-partners-regarding-trudeaus-allegations-638939">Shared intel among Five Eyes helped Trudeau make allegations against India: US</a>

<h2>Funds transcending&nbsp;borders</h2>

The NIA's probe has exposed a series of financial transactions spanning from 2019 to 2021, where amounts ranging from ₹5 lakh ($6.5K) to ₹60 lakh ($72.2K)&nbsp;were sent by gangster Lawrence Bishnoi to Canada and Thailand through the hawala route.

Bishnoi, working closely with Khalistani groups in Canada, particularly with Babbar Khalsa International (BKI) leader Lakhbir Singh Landa, was a key figure in this illicit operation.

According to the NIA's charge sheet, money collected through extortion, illegal liquor, arms smuggling, and other illicit activities was transferred to Canada, specifically to one Satbir Singh alias Sam, for further investment and to fund radical activities of pro-Khalistan elements (PKEs).

The charge sheet identifies Sam as the pointsperson for managing illegal funds in Canada, mentioning investments in yachts, film financing, and the organisation of the Canadian Premier League. Bishnoi, currently incarcerated, confessed to receiving funds from Sam on multiple occasions.

The NIA's revelations include transactions such as ₹2 lakh ($2.4K) sent monthly to Goldy Brar in 2021, two payments of ₹20 lakh ($25K) each to Brar in 2020, ₹50 lakh ($60K)&nbsp;given to Sam in 2020, and a total of ₹60 lakh ($72K) distributed to both Brar and Sam in 2021. While the agency has yet to provide detailed information on the nature of these investments in Canada, it is clear that substantial amounts were involved.

The probe also uncovered that funds collected by the Lawrence Bishnoi gang were funnelled to Manish Bhandari in Thailand through hawala. Bhandari is&nbsp;a Delhi resident, who is based in Thailand where he&nbsp;owns clubs in Bangkok and Pattaya. 
 
Bhandari, reportedly, invested these funds in nightclubs and bars. Additionally, when members of the Lawrence Bishnoi gang traveled to Thailand, Bhandari provided them accommodation and logistical support.

Highlighting the collaboration between Bishnoi's gang and pro-Khalistan elements (PKEs), the NIA charge sheet reveals that Pakistan-based Babbar Khalsa International (BKI) leaders sought experienced shooters in India.

The Lawrence Bishnoi gang, with its extensive presence across multiple Indian states and Union territories, filled this void, offering an array of illegal services. For Indian gangs, partnering with PKEs and terror groups offers access to advanced weaponry, money laundering opportunities, and the means to relocate members abroad through the PKE network.

&nbsp;

WATCH WION LIVE HERE:

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The National Investigation Agency (NIA) has unearthed a complex financial network linking Canada-based top Khalistani terrorists and gangsters to money generated in India through extortion, smuggling, and other illicit activities.

The National Investigation Agency (NIA) has unearthed a complex financial network linking Canada-based top Khalistani terrorists and gangsters to money generated in India through extortion, smuggling, and other illicit activities. This nefarious wealth not only fuels their violent activities in both India and Canada, but also finds its way into unexpected investments, including yachts, movies, and even the Canadian Premier League. The investigation further reveals that the money amassed by gangsters through extortion, smuggling and other illegal activities has also been funnelled to clubs and bars in Thailand as investment, accentuating the global scale of these financial activities, said a report in the Hindustan Times. Also read | Shared intel among Five Eyes helped Trudeau make allegations against India: US Funds transcending borders The NIA's probe has exposed a series of financial transactions spanning from 2019 to 2021, where amounts ranging from ₹5 lakh ($6.5K) to ₹60 lakh ($72.2K) were sent by gangster Lawrence Bishnoi to Canada and Thailand through the hawala route. Bishnoi, working closely with Khalistani groups in Canada, particularly with Babbar Khalsa International (BKI) leader Lakhbir Singh Landa, was a key figure in this illicit operation. According to the NIA's charge sheet, money collected through extortion, illegal liquor, arms smuggling, and other illicit activities was transferred to Canada, specifically to one Satbir Singh alias Sam, for further investment and to fund radical activities of pro-Khalistan elements (PKEs). The charge sheet identifies Sam as the pointsperson for managing illegal funds in Canada, mentioning investments in yachts, film financing, and the organisation of the Canadian Premier League. Bishnoi, currently incarcerated, confessed to receiving funds from Sam on multiple occasions. The NIA's revelations include transactions such as ₹2 lakh ($2.4K) sent monthly to Goldy Brar in 2021, two payments of ₹20 lakh ($25K) each to Brar in 2020, ₹50 lakh ($60K) given to Sam in 2020, and a total of ₹60 lakh ($72K) distributed to both Brar and Sam in 2021. While the agency has yet to provide detailed information on the nature of these investments in Canada, it is clear that substantial amounts were involved. The probe also uncovered that funds collected by the Lawrence Bishnoi gang were funnelled to Manish Bhandari in Thailand through hawala. Bhandari is a Delhi resident, who is based in Thailand where he owns clubs in Bangkok and Pattaya. Bhandari, reportedly, invested these funds in nightclubs and bars. Additionally, when members of the Lawrence Bishnoi gang traveled to Thailand, Bhandari provided them accommodation and logistical support. Highlighting the collaboration between Bishnoi's gang and pro-Khalistan elements (PKEs), the NIA charge sheet reveals that Pakistan-based Babbar Khalsa International (BKI) leaders sought experienced shooters in India. The Lawrence Bishnoi gang, with its extensive presence across multiple Indian states and Union territories, filled this void, offering an array of illegal services. For Indian gangs, partnering with PKEs and terror groups offers access to advanced weaponry, money laundering opportunities, and the means to relocate members abroad through the PKE network. WATCH WION LIVE HERE:

From extortion, arms smuggling to buying fancy yachts, this is how Khalistanis invested funds and flourished

The International Atomic Energy Agency is running out of money and agency operations could come to a halt in a month. This has been revealed by the agency's chief himself he says that the UN nuclear Watchdog is facing a financial crisis as many member states including major donors have not paid the money.

Agency Chief: UN Nuclear watchdog running out of money

Paytm's founder and CEO, Vijay Shekhar Sharma, has expressed interest in increasing his stake in the Indian fintech giant. This comes weeks after he became the largest shareholder by acquiring shares from the Chinese firm Antfin.

CEO Vijay Sharma drives Paytm's Indian ownership

In the latest development, the government has claimed that the international monetary fund wanted a '100% devaluation' of the Peso. But the number came down to 18% after some discussions, it added. The statement however underscores rising pressure on the embattled peso, which was devalued and pegged at 350 per dollar on Monday.

Argentina claims IMF wanted 100% devaluation of Peso

There's some good news for India on the foreign exchange front. India's foreign exchange reserves have crossed the 600 billion mark. That's for the first time since May 2022. The forex reserves stand at 609 billion dollars on July 14. This was a 15-month-high and comes amid a rise in dollar inflow.

Forex reserves stood at $609 billion on July 14

Where taxes need to be paid, taxes need to be saved. Some forms of income attract lower taxes than others. Some income is tax-free. Some income is fully taxable. Other incomes fall between these two extremes. Tax planning is critical to save money and accomplishing your financial goals. It is crucial to plan your finances strategically to optimise tax savings and maximise your take-home income.

Tax planning also helps you to achieve your financial goals by reducing your tax liability and freeing up more money to invest. This can help you to build a stronger financial foundation and to build more assets for the future.

Old Vs. New Tax Regime

New tax regime is default tax regime whereas the older tax will be available to those who specifically opt for it. The new tax regime does not offer as many deductions and exemptions as the old tax regime. For most people under Rs. 7.5 lakh, it makes sense to opt for new tax regime and pay no tax.

Assess the Latest Tax Slabs and Rates

By knowing the applicable rates, you can structure your income and investments accordingly.

For example, the Finance Minister Nirmala Sitharaman announced in this year’s budget that under the new tax regime the rebate for income tax has been increased to Rs.7 lakh from the earlier limit of up to Rs.5 lakh. Other changes were also introduced under the tax slab for the new tax regime too. Apart from that surcharge rate on income of Rs.5 crore and above has been decreased from 37% to 25%. You must know the implementation of these changes on your income and tax liabilities.

Leverage Tax Deductions and Exemptions

Take full advantage of the available tax deductions and exemptions under the Income Tax Act. Consider popular deductions such as Section 80C (for investments in instruments like PPF, EPF, and tax-saving mutual funds), Section 80D (for health insurance premiums), and Section 24(b) (for home loan interest). Identify the maximum allowable limits and invest accordingly to optimise your tax savings.

Explore Tax-Saving Investments

Opt for tax-saving financial instruments such as the Public Provident Fund (PPF), Sukanya Samridhi Yojana (SSY), Senior Citizens Savings Scheme (SCSS), Life and Health Insurance, Tax Saving Mutual Funds etc. These investments not only offer tax benefits under Section 80C but also provide an opportunity for long-term wealth creation. Consider the lock-in periods, returns, and risks associated with each investment option to make informed decisions.

Consider Equity-Linked Savings Scheme (ELSS)

ELSS is a tax-saving mutual fund that offers the potential for capital appreciation along with tax benefits under Section 80C. By investing in ELSS, you can potentially save taxes and participate in the growth of the equity market. However, be mindful of the risks involved and consult with a financial advisor to align your investments with your risk appetite.

Avail Home Loan Benefits

If you have a home loan, ensure you utilize the tax benefits associated with it. Claim deductions on the principal amount (Section 80C) and interest paid (Section 24(b)). Additionally, if you are a first-time homebuyer, you may be eligible for an additional deduction under Section 80EEA. Analyse the tax implications and consult a tax professional to make the most of these provisions.

You can save Rs 1.5 lakh under Section 80C for the principal payment of your home loan, and on interest you can claim Rs 2 lakh under section 24B. Additional Rs 50,000 can be saved if the loan amount is Rs 35 lakh or less.

On stamp duty you can claim Rs 1.5 lakh under 80C and under 80EEA another Rs 1.5 lakh if the loan is taken between April 1 2019 to 31 March 2022.

Plan for Long-Term Capital Gains

When dealing with capital gains, be mindful of the holding periods to determine whether they are short-term or long-term. Long-term capital gains on equity investments may be taxed differently. Consider strategies such as tax harvesting or investing in tax-efficient mutual funds to minimise your tax liability.

Effective tax planning is essential for savings and increasing take-home income. By understanding the latest tax slabs, leveraging deductions, exploring tax-saving investments, and utilising home loan benefits, individuals can effectively save income tax and channel those savings towards their financial goals.

Adhil Shetty is the CEO of&nbsp;Bankbazaar.com

Where taxes need to be paid, taxes need to be saved. Some forms of income attract lower taxes than others. Some income is tax-free. Some income is fully taxable.

Where taxes need to be paid, taxes need to be saved. Some forms of income attract lower taxes than others. Some income is tax-free. Some income is fully taxable. Other incomes fall between these two extremes. Tax planning is critical to save money and accomplishing your financial goals. It is crucial to plan your finances strategically to optimise tax savings and maximise your take-home income. Tax planning also helps you to achieve your financial goals by reducing your tax liability and freeing up more money to invest. This can help you to build a stronger financial foundation and to build more assets for the future. Old Vs. New Tax Regime New tax regime is default tax regime whereas the older tax will be available to those who specifically opt for it. The new tax regime does not offer as many deductions and exemptions as the old tax regime. For most people under Rs. 7.5 lakh, it makes sense to opt for new tax regime and pay no tax. Assess the Latest Tax Slabs and Rates By knowing the applicable rates, you can structure your income and investments accordingly. For example, the Finance Minister Nirmala Sitharaman announced in this year’s budget that under the new tax regime the rebate for income tax has been increased to Rs.7 lakh from the earlier limit of up to Rs.5 lakh. Other changes were also introduced under the tax slab for the new tax regime too. Apart from that surcharge rate on income of Rs.5 crore and above has been decreased from 37% to 25%. You must know the implementation of these changes on your income and tax liabilities. Leverage Tax Deductions and Exemptions Take full advantage of the available tax deductions and exemptions under the Income Tax Act. Consider popular deductions such as Section 80C (for investments in instruments like PPF, EPF, and tax-saving mutual funds), Section 80D (for health insurance premiums), and Section 24(b) (for home loan interest). Identify the maximum allowable limits and invest accordingly to optimise your tax savings. Explore Tax-Saving Investments Opt for tax-saving financial instruments such as the Public Provident Fund (PPF), Sukanya Samridhi Yojana (SSY), Senior Citizens Savings Scheme (SCSS), Life and Health Insurance, Tax Saving Mutual Funds etc. These investments not only offer tax benefits under Section 80C but also provide an opportunity for long-term wealth creation. Consider the lock-in periods, returns, and risks associated with each investment option to make informed decisions. Consider Equity-Linked Savings Scheme (ELSS) ELSS is a tax-saving mutual fund that offers the potential for capital appreciation along with tax benefits under Section 80C. By investing in ELSS, you can potentially save taxes and participate in the growth of the equity market. However, be mindful of the risks involved and consult with a financial advisor to align your investments with your risk appetite. Avail Home Loan Benefits If you have a home loan, ensure you utilize the tax benefits associated with it. Claim deductions on the principal amount (Section 80C) and interest paid (Section 24(b)). Additionally, if you are a first-time homebuyer, you may be eligible for an additional deduction under Section 80EEA. Analyse the tax implications and consult a tax professional to make the most of these provisions. You can save Rs 1.5 lakh under Section 80C for the principal payment of your home loan, and on interest you can claim Rs 2 lakh under section 24B. Additional Rs 50,000 can be saved if the loan amount is Rs 35 lakh or less. On stamp duty you can claim Rs 1.5 lakh under 80C and under 80EEA another Rs 1.5 lakh if the loan is taken between April 1 2019 to 31 March 2022. Plan for Long-Term Capital Gains When dealing with capital gains, be mindful of the holding periods to determine whether they are short-term or long-term. Long-term capital gains on equity investments may be taxed differently. Consider strategies such as tax harvesting or investing in tax-efficient mutual funds to minimise your tax liability. Effective tax planning is essential for savings and increasing take-home income. By understanding the latest tax slabs, leveraging deductions, exploring tax-saving investments, and utilising home loan benefits, individuals can effectively save income tax and channel those savings towards their financial goals. Adhil Shetty is the CEO of Bankbazaar.com

It's tax time now: How to plan for a tension-free life

Protesters in Lebanon have attacked several bank buildings, set tyres alight and smashed windows to demand their money back.

Protesters in Lebanon vandalise banks, demand their money back

A new scam has been circulating in WhatsApp in the name of Fake YouTube Likes. Beware not to fall for the same. Watch the video to know more:

Beware! This fake Youtube likes scam circulating on Whatsapp can steal your money

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