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First, some background. The entire NRI community is now aware of the high-interest-rate Foreign Currency Non-Resident deposit scheme enabled by the Reserve Bank of India. Many banks have raised interest rates on these deposits after the RBI decided to cover hedging costs for 3 to 5-year FCNR Bank accounts until September 30, 2026. Although a lot of details and clarification is awaited from RBI, I am writing this based on the circulated information. The key proposition is that you deposit X amount,…

Originally Published In Moneycontrol In September 2024, I flew to Dubai to evaluate the wealth management opportunity there for our firm. What I found was hard to argue with. Affluent families are relocating in serious numbers. A city where East meets West, where global capital feels genuinely at home. We opened our office there shortly after. I am writing this in early 2026, with the Middle East in a state that nobody who moved to…

Global diversification has moved from being a luxury to becoming an essential component of wealth creation. Indian investors today have multiple avenues to access international markets, helping them diversify across geographies, currencies, sectors, and some of the world’s most innovative companies. However, not all international investing routes are created equal. Each option differs in terms of regulation, taxation, operational ease, product availability, and investor responsibilities. Broadly, Indian residents can access global markets through three routes:…

India is in a tough spot. Investors are a worried lot, and that is reflected in a major decline in equity mutual fund inflows. India is facing challenges from multiple fronts. India’s story is primarily driven by the consumption story on the back of the demographic dividend. Major concerns are emerging: – Elevated crude prices leading to currency depreciation and increasing inflation pressure, threatening demand destruction – The number of net job creations has been…

War in the Middle East and possible investment implications The war has shaken the global economic equilibrium and threatens to cause stagflation, which means lower growth and higher inflation all across the world. With my limited understanding, I am sharing three possible scenarios and how these will have an impact on different asset classes: Scenario 1 (Best Case): Ceasefire announced shortly, and the initiation of talks to reach a solution. This scenario has a higher…

3 years ago, a family office in Europe hired a trader from a highly reputed bank in India to manage their family wealth after a significant liquidity event from selling the business. The corpus size was around $100 million. The family had a choice to hire a trader or a wealth manager for this role. They decided to hire the trader after hearing from him about lofty outcomes and a lower salary ask.   The trader, being…

I met a promoter of an established large wealth management company recently and asked him about his thoughts on the fee-based advisory model. He was frank enough to tell me that he sees a sharp dip in his company’s revenue if they move to an advisory model. For managing a single portfolio size of INR 100 Cr, he gets commission in the range of INR 1-1.5 Cr per annum without the client exactly knowing about it. Whereas,…

Love and ego can’t stay together, but love and self-respect (along with humility) go a long way.It becomes challenging for humans to distinguish between ego and self-respect.Heck, humans most of the time don’t even know what emotion is driving them.Ego is proving oneself right. Without ego, one looks for what is right.Ego makes you feel that your point of view is the absolute truth. Without ego, you are open to the idea that your perception…