The Association of Mutual Funds in India released data for February 2024. It shows small-cap mutual funds attracted more net inflows than large-cap funds. This indicates a continued investor preference for smaller companies. Analysts attribute this trend to the search for higher growth potential.
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The Income Tax Department has sent notices to certain individuals for depositing their salary into Non-Resident External (NRE) accounts. The notices question the tax treatment of these salary credits. NRE accounts are typically meant for income earned outside India, while domestic salaries are usually paid into Resident accounts. The department is examining whether this constitutes a violation of foreign exchange or tax rules.
Germany's Foreign Minister Annalena Baerbock has stated that the current global security environment involves a shadow war more intense than during the Cold War. She made these remarks during a speech at the German Council on Foreign Relations in Berlin. Baerbock highlighted that this conflict is characterized by covert actions, including cyberattacks and disinformation campaigns. She attributes this escalation to the aggressive actions of nations like Russia and China, which aim to undermine international norms and democracies.
The All India Defence Employees Federation has formally requested the central government to declare an increase in Dearness Allowance. The union represents the interests of civilian employees working within defence establishments. Their request aims to address the impact of inflation on employee incomes. The timing of the government's decision on the allowance adjustment remains pending.
Indian Railways is exploring the development of a new, longer version of its Vande Bharat express train. The proposed model would have 24 coaches, significantly more than the current 8 or 16-coach configurations. This initiative aims to increase passenger capacity on high-demand routes. The plan is currently in the consideration phase, with no official timeline for implementation yet.
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