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Time of India
a day ago
- Business
- Time of India
Tragedies spur more Indians to draw up will
A string of recent tragedies, including the Pahalgam terrorist attack and the fatal crash of a London-bound Boeing 787 Dreamliner, have set off a renewed urgency among Indians to draw up their wills. The recent spike in consultations on writing/revisiting wills and estate planning is the highest since the pandemic, said lawyers and estate planners. While the trend has been building steadily, recent events appear to have heightened awareness. "The last time we had seen something similar was after the Covid-19 pandemic. The geopolitical impact, recent terrorist attacks and war-like situation have made everyone question their mortality," says Pallavi Pratap, managing partner at New Delhi-based law firm Pratap & Co. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Here's The Price for a 1-Day Walk-in Shower In 2025 Homebuddy Learn More Undo Pratap notes that registered wills and broader succession planning are receiving renewed attention. No Longer Just for Retirement Legal experts point to a growing realisation that a lack of clear succession plans can leave families grappling with legal and financial chaos. The influx of distressing news on social media only reinforces this anxiety. Live Events "Every time there is a tragic air crash or a high-profile accident, we see a visible uptick in individuals reaching out to formalise their succession plans," said Ajay Khatlawala, managing partner at Mumbai-based Little & Co. "What used to be considered a retirement-age activity is now something many millennials and Gen Z professionals are opting for, especially before travel." One such case involved a businessman from Delhi NCR who remarried and keen to protect the inheritance of his children from his first marriage. "He is in the business of exports, and his work demands lots of travel. The recent development compelled him to draft a specific will ," said Pratap. Tech Startups & the Planning Boom The spike in activity has also been observed by legaltech platforms. Nikhil Varghese, co-founder of Yellow, said inquiries are up 20% year-on-year. "Earlier, people would think: 'Nothing's going to happen to me.' Now they're realising that they can't sit on these important decisions anymore; recent incidents have been a wake-up call." He cites a recent client, a CXO in the BFSI sector, who despite being extremely fit and healthy, reached out to draft a will. "Earlier, such conversations were rare," said Varghese. Jatin Popat, CEO of WillJini, a virtual will-writing and advisory firm, observes that awareness is higher, and financial advisors too are increasingly encouraging clients to plan early. "We are seeing more and more people in their 30s and 40s come in; that's in addition to the older lot who may have put it off earlier but are making it a top priority now," said Popat. Around 25% of WillJini's clients now are below 40. "We see this shift because the next generation has better financial literacy and are showing a more practical approach towards life's eventualities," said Popat. "Couples come to us together as well." Beyond Borders and Big Cities The trend is no longer limited to urban India or resident Indians. Uday Ved, partner at KNAV's global tax practice, points to a wider demographic engaging in estate planning. "Families and HNIs (high net worth individuals) have become much more conscious, drawing up wills and doing succession planning. NRIs are drafting separate wills for India and overseas assets," said Ved. "Several family offices use trusts as a vehicle for succession planning. Also, what used to be a big-city phenomenon has spread to smaller towns. We are seeing increased interest from Tier II and III cities as well," he adds.
Hindustan Times
a day ago
- Politics
- Hindustan Times
Nalanda University eyes major academic push by adding host of Master's programmes, fellowships & global MoUs
With four more Master's programmes being launched this year apart from the two introduced last year, Nalanda University has now six of them within a year to take the total number of such programmes offered at the famed institution to 12. Besides, the University has introduced Post-Doctoral Fellowships, expanding its academic scope and reinforcing its ole as a premier centre of research and higher learning, said a university statement. The Master's programme being offered are MA in Historical Studies, Buddhist Studies, Philosophy, and Comparative Religions, Hindu Studies (Sanātana Dharma), World Literature, Archaeology, International Relations and Peace Studies, Economics, Philosophy and Hindi. Also read: In a first, more girls passed Class 12 with science stream than arts in 2024: MoE analysis Besides, the university is also offering in Ecology and Environment Studies and MBA in Sustainable Development and Management. On September 1, 2014, the university had started its academic session from the makeshift venue at the International Convention Centre at the Buddhist pilgrim town of Rajgir, barely 10 kms from the ancient seat of learning. On September 19, minister for external affairs Sushma Swaraj had formally inaugurated it. However, it was on June 19, 2024 that Prime Minister Narendra Modi inaugurated its sprawling state-of-the-art campus net zero blending traditional flavour of the ancient seat of learning with modernity and inspired by the original monasteries. Since then, momentum has picked up. Also read: QS Rankings: DU secures 30th spot globally in employment outcomes, retains overall rank at 328 After a long wait, Nalanda University in May, 2025 got a regular vice chancellor with the appointment of Professor Sachin Chaturvedi, Director General of the Research and Information System for Developing Countries (RIS), a New Delhi-based think tank. Since May 2023, after the end of an extended six-year tenure of Prof Sunaina Singh as VC, Prof Abhay Kumar Singh, professor & dean, School of Historical Studies, was the interim VC of NU. Incidentally, Sunaina singh had also taken over the charge of the institution in May 2017 from an interim VC amid complete change of its governing board. The university has had a fair share of problems over the years and it is yet to gather desired momentum. In its 11th year, it now has over 400 students, including 224 foreign students from 21 countries, enrolled with Master's Programme for academic year 2024-2025 in eight Masters and PhD programmes. It has also started admitting students through the Common University Entrance Test (CUET) for the first time to boost intake. Also read: IGNOU launches Post Graduate Diploma in Tribal Studies (PGDTRBS) With new programmes from this year, the numbers are expected to increase. Each Master's programme is expected to have 40 students. A senior officer of the university said that total intake in the university has reached over 1200, including 800 for various short-term courses. 'The spirit of Nalanda has evolved as a vibrant expression of continuous engagement with eternal values and the civilisational ethos of the East. It embodies a rich intellectual tradition, marked by openness, inclusivity, and a globally oriented outlook. Building upon this legacy, our vision for the new Nalanda is rooted in integrative wisdom,' said the VC. He said the institution 'draws inspiration from an Eastern worldview in which faith, intellectual inquiry, and material well-being are not regarded in isolation, but as deeply interwoven dimensions of holistic human existence'. The communication office said that the university has deepened its outreach by signing approximately 20 new Memoranda of Understanding (MoUs, including nine in the last one year, with global and national institutions.
Business Recorder
2 days ago
- Business
- Business Recorder
Indian refiners cancel palm oil orders for July-Sept as prices surge
MUMBAI: Indian refiners cancelled orders for 65,000 metric tons of crude palm oil (CPO) scheduled for delivery from July to September following a sudden surge in benchmark Malaysian prices, four trade sources told Reuters. Refiners in the world's largest palm oil importer cancelled the orders in the past three days after Malaysian palm oil futures rose more than 6%, hedging their risk against the prospect of falling prices by locking in a profit. 'There is a lot of volatility in the market. There was more margin in cancelling bought CPO than in importing, refining, and selling refined palm oil in the local market,' said an Indian buyer who operates a refinery on the west coast and cancelled shipments for July delivery. Indian buyers made CPO purchases nearly a month ago around $1,000 to $1,030 per ton, including cost, insurance, and freight, after a rebound in palm oil production brought down prices to their lowest in more than eight months. This week, palm oil futures jumped, tracking a rally in Chicago soyoil futures after the U.S. proposed higher biofuel blending volumes. Palm rises tracking rival soyoil, weaker ringgit The sudden rise prompted Indian refiners to cancel contracts at between $1,050 and $1,065 per ton, making a profit of more than $30 per ton, said the sources who spoke on condition of anonymity because they were not authorised to speak to media. Buyers agreed to contract cancellations by accepting a price slightly lower than the current market rate, a decision mutually reached with sellers, said a New Delhi-based dealer with a global trading house. The CPO is being offered at about $1,070 a ton in India for July delivery, compared to $1,020 to $1,030 a month ago. Despite the cancellations, Indian imports are poised to rise in coming months after falling far below average in recent months, bringing down inventories, said Sandeep Bajoria, chief executive of Sunvin Group, a vegetable oil brokerage. India's palm oil imports hit a six-month high in May, driven by low inventories and the oil's price discount to rival soyoil and sunflower oil. Indian buying had gained momentum after India last month halved the import duty on CPO, but the cancellations have disrupted that momentum, said a Kuala Lumpur-based trader with a palm oil producing company.
The Hindu
2 days ago
- Business
- The Hindu
Rice, tea exporters to Iran bear the brunt of Iran-Israel conflict
Shipments of a significant quantity of basmati rice and tea, the two major commodities that are exported from India to Iran, are on hold because of the Iran-Israel conflict, putting exporters on wait and watch mode. Iran is the largest market for Indian basmati rice as 1.2 million tonnes of the total six million tonnes of annual exports go to Iran. 'All shipments and payments are on hold,' said Mohit Gupta, a New Delhi-based rice exporter. 'The exporters are talking to the officials and hope for a solution in a couple of days. International price for basmati rice has dropped by $100 a tonne because of the conflict and stocks are beginning to pile up with the exporters,' he said. One of the major exporters of tea said 20,000-25,000 tonnes of tea goes to Iran from India annually, mainly orthodox tea. This is the prime season in Assam for the best quality tea. However, because of the conflict, fresh exports to Iran are on hold now, while the teas at ports are likely to be shipped, depending on the buyer. 'There are withdrawals and drop in price at the auction; shipments are stopped and no one knows how the situation will develop, especially with the attacks escalating. Exporters will get the payment only after shipment. Right now, the priority in Iran is for essentials,' the exporter said. B. Rajesh Chander, member of the Tea Board India, said many of those operating to Iran did not take part in the auctions on Wednesday. 'There is fear that exports to countries such as Azerbaijan and Kazakhstan may also get affected in the future if the conflict continues,' he said. Officials from the Ministry of Commerce and Industry will meet stakeholders from the trade, shipping, and export-oriented sectors on Friday to discuss the problems they are facing due to the Israel-Iran conflict, and how the government could help address these issues. According to sources, prior to the meeting, the Commerce Ministry sought information and feedback from exporters on the extent of impact due to the Iran-Israel tensions, how they were accommodating these factors, and their expectations. While these inputs are coming in, exporters said that air freight costs had already increased and sea freight costs too were expected to go up. The exporters are also factoring in a surge in fuel costs and risk insurance premiums. The Hindu had last week reported that potential closure of the Strait of Hormuz due to the Israel-Iran conflict would add 15-20 days to India's shipping times, and 40-50% to shipping costs.
Yahoo
2 days ago
- Business
- Yahoo
Exclusive-Indian refiners cancel palm oil orders for July-Sept as prices surge
By Rajendra Jadhav MUMBAI (Reuters) -Indian refiners cancelled orders for 65,000 metric tons of crude palm oil (CPO) scheduled for delivery from July to September following a sudden surge in benchmark Malaysian prices, four trade sources told Reuters. Refiners in the world's largest palm oil importer cancelled the orders in the past three days after Malaysian palm oil futures rose more than 6%, hedging their risk against the prospect of falling prices by locking in a profit. "There is a lot of volatility in the market. There was more margin in cancelling bought CPO than in importing, refining, and selling refined palm oil in the local market," said an Indian buyer who operates a refinery on the west coast and cancelled shipments for July delivery. Indian buyers made CPO purchases nearly a month ago around $1,000 to $1,030 per ton, including cost, insurance, and freight, after a rebound in palm oil production brought down prices to their lowest in more than eight months. This week, palm oil futures jumped, tracking a rally in Chicago soyoil futures after the U.S. proposed higher biofuel blending volumes. The sudden rise prompted Indian refiners to cancel contracts at between $1,050 and $1,065 per ton, making a profit of more than $30 per ton, said the sources who spoke on condition of anonymity because they were not authorised to speak to media. Buyers agreed to contract cancellations by accepting a price slightly lower than the current market rate, a decision mutually reached with sellers, said a New Delhi-based dealer with a global trading house. The CPO is being offered at about $1,070 a ton in India for July delivery, compared to $1,020 to $1,030 a month ago. Despite the cancellations, Indian imports are poised to rise in coming months after falling far below average in recent months, bringing down inventories, said Sandeep Bajoria, chief executive of Sunvin Group, a vegetable oil brokerage. India's palm oil imports hit a six-month high in May, driven by low inventories and the oil's price discount to rival soyoil and sunflower oil. Indian buying had gained momentum after India last month halved the import duty on CPO, but the cancellations have disrupted that momentum, said a Kuala Lumpur-based trader with a palm oil producing company. Sign in to access your portfolio
