OverviewInvestment banks are typically organized into three principal functional areas: the front office, middle office, and back office. Each plays a distinct and critical role in supporting the bank’s operations, from revenue generation and client services to risk management and administrative support. Additionally, investment banks follow a structured hierarchy of roles, progressing from junior to…
Investment management is the structured process of planning, organizing, and controlling the allocation of financial resources to achieve defined financial objectives. A successful investment strategy requires a clear understanding of several core elements—namely risk, return, time horizon, liquidity, tax efficiency, asset allocation, diversification, and continuous portfolio monitoring. India’s expanding financial markets offer a wide array…
A wealth management assessment is a detailed and personalized process aimed at understanding a client’s financial position, preferences, and long-term objectives. This evaluation serves as the foundation for developing a tailored wealth management strategy, which encompasses investment planning, risk mitigation, estate planning, and tax optimization. The assessment involves a holistic review of the client’s financial…
Diamond Dollar Accounts (DDAs) are specialized current accounts denominated in US dollars, maintained with banks in India. These accounts are exclusively available to firms and companies engaged in the import and export of rough or cut and polished diamonds, coloured gemstones, and precious metal jewellery, whether plain, enameled (minakari), or studded with diamonds or other…
The Reserve Bank of India (RBI), vide its circular dated June 6, 2025, has issued a comprehensive and harmonized set of guidelines for lending against gold and silver collateral, applicable to all Regulated Entities (REs). These directions aim to address macroprudential concerns and harmonize prudential and conduct norms across lending institutions. The new framework shall…
Definition of Personal Financial Planning (PFP)Personal Financial Planning (PFP) is a dynamic and comprehensive process of managing an individual’s financial resources—including assets, liabilities, income, and expenditures—with the objective of achieving personal and family life goals. This integrative approach involves formulating strategies and taking informed financial decisions based on one’s unique circumstances. While holistic planning considers…
In the realm of personal financial planning, nomination is a widely recognized mechanism governed under various statutory frameworks including the Life Insurance Act, the Employees’ Provident Funds and Miscellaneous Provisions Act, the Payment of Gratuity Act, the Co-operative Societies Act, and the Banking Regulation Act. Individuals often assume that by merely executing nominations for their…
Under Section 18 of the Registration Act, 1908, the registration of a Will is not mandatory. The Hon’ble Supreme Court, in Ishwardeo Narain Singh v. Kamta Devi, AIR 1954 SC 280, authoritatively held that the non-registration of a Will does not, by itself, cast any doubt upon its genuineness. The Court observed that the majority…
Legal Note:There is no prescribed statutory format for a Will under Indian law. A Will may be executed in any language and may be either handwritten or typed. Legal or technical language is not mandatory, provided that the document clearly conveys the unambiguous testamentary intent of the testator. A lawyer’s assistance, though advisable in complex…
The term “Will” is defined under Section 2(h) of the Indian Succession Act, 1925, as a legal declaration made in writing by a person, referred to as the Testator, whereby the testator specifies the manner in which his or her assets and properties are to be distributed upon their demise. A Will has overriding effect…
