The market regulator inspected the operations and accounts of IIFL Securities between April 2011 and January 2017 and found several alleged violations of its rules.
Mukesh Ambani, the Hinduja brothers and Shiv Nadar topped the IIFL Wealth Hurun India Rich List 2020, which ranks individuals with a net worth of Rs 1,000 crore or more as on 31 August.
The shortage of funds is expected to cause more defaults in the realty sector, which raises the risk of a repeat of last year’s funding freeze for shadow banks.
HDFC Bank, the most preferred wealth manager in India among high net worth clients surveyed by Euromoney, plans to add as many as 150 relationship managers by the end of 2020 to the current 250.
The Mumbai banker’s $20 billion private-wealth-management unit has become India’s biggest by assets.
Nirmal Jain has hit the jackpot serving the new rich in the...
‘Cassette culture’ discusses the boom of Bhakti music during the '80s and '90s when Anoop Jalota, Gulshan Kumar saw the pinnacle of success by singing the sanitised Bhajans.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
COMMENTS