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Time of India
2 hours ago
- Time of India
World's richest village: 5000 Crores as bank deposits and more; What makes it so rich
It is likely unimaginable to think that a rural village could have thousands of crores of deposits in its banks situated in its muddy lanes. This is not just a kids tale from bedtime story, but a reality from a village in Gujarat! Far from fitting the typical image of a village, this small settlement in Gujarat's Kutch region pulses with unexpected financial strength and modern facilities. What makes the village exceptional isn't a sudden resource windfall, but the lasting relationship its residents maintain with their roots. Over the years, industrious Non‑Resident Indians (NRIs), particularly from the Patel community, have channeled their earned prosperity back into the village, not just for family upkeep, but to strengthen its very foundation. The richest village in the world ! Madhapar, a village in the Kutch district of Gujarat is often regarded as one of the richest villages globally when measured by bank deposits. With approximately 7,600 households and nearly 17 bank branches, the villagers collectively have deposited an astounding sum of around ₹5,000 crore. On average, the per-person deposit works out to about ₹15 lakh, according to a CNBCTV18 report. How did this small village become so financially strong A significant share of Madhapar's residents have family members living abroad, in the UK, USA, Canada, Africa, and Gulf nations, many of whom have established successful careers overseas. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Could This NEW Collagen Blend Finally Reduce Your Cellulite? Vitauthority Learn More Undo Rather than letting go of their roots, these NRIs consistently send money home, investing in education, healthcare, infrastructure, and community wellbeing. Adding to this connection, an organization called the Madhapar Village Association was established in London in 1968 to keep NRI families connected with their native village. There's even an office in the village to aid in the smooth communication, coordination, and community projects back home. Madhapur village has all the facilities Madhapar today has much more than bank branches. It has schools, colleges, health centres, gardens, lakes, and dams. There's even a modern gaushala cow shelter, amenities rarely expected in a rural setting. Village Madhapur (Photo: Kirat @X) Madhapar's roots go all the way back to the 12th century, when it was established by the Mistri community of Kutch, skilled artisans known for building temples and historical landmarks throughout Gujarat. Over time, people from various other communities also made Madhapar their home, making it diverse culturally. Beyond money, Madhapar embodies the combination of tradition and vision. Founded centuries ago by the Mistri community of Kutch, known for their craftsmanship and temple-building, the village has retained its cultural roots even as it embraces progress.
Business Standard
a day ago
- Business Standard
Vodafone Idea Q1 revenue inches higher, losses widen
Vodafone Idea reported a wider loss in Q1 FY26 despite modest growth in revenue. On a consolidated basis, net loss stood at Rs 6,608.1 crore in Q1 FY26 higher than Rs 6,432.1 crore in Q1 FY25. Revenue from operations rose 4.9% YoY to Rs 11,022.5 crore from Rs 10,508.3 crore in Q1 FY25. Cash EBITDA came in at Rs 2,180.7 crore in Q1 FY26, up 3.7% from Rs 2,103.3 crore in Q1 FY25. However, cash EBITDA margin slipped marginally to 19.8% from 20% last year. Reported EBITDA stood at Rs 4,612.1 crore in Q1 FY26, higher than Rs 4,204.7 crore in Q1 FY25, with margin improving to 41.8% from 40%. Capex for the quarter stood at Rs 2,440 crore. The companys debt from banks was reduced to Rs 1,930 crore as of 30 June 2025, while cash and bank balance stood at Rs 6,830 crore. Operationally, ARPU improved 15% YoY to Rs 177 from Rs 154 in Q1 FY25, driven by tariff revisions and customer upgrades. Its total subscriber base stood at 197.7 million. The 4G/5G subscriber base rose to 127.4 million versus 126.7 million last year. Coverage also expanded, with 4G now reaching ~84% of the population. Data consumption surged, with 4G capacity rising 36% and 4G speeds up 24% versus March 2024. The company also announced a strategic partnership with AST SpaceMobile to deliver satellite broadband connectivity in remote regions lacking terrestrial networks. Akshaya Moondra, CEO, Vodafone Idea, said "This has been a decisive turnaround quarter. The investments made over the past three quarters to expand our 4G coverage have started yielding results, as reflected in the 90% lower subscriber loss compared to Q2 and Q3 of last financial year, being the lowest subscriber decline since merger. Our 5G services are now operational in 22 cities across 13 circles, and we are committed to systematically expanding our 5G footprint, in line with growing 5G handset adoption. We are encouraged by the momentum across our core business metrics. Data consumption has hit a record high driven by the success of our SuperHero and Non-stop SuperHero plans. With a solid foundation in place, we are well positioned to seize emerging growth opportunities in the industry. We continue to invest in capex and to support our broader capex plans of Rs. 500-550 billion, we remain engaged with lenders to secure debt financing." Indias third-largest telecom operator, Vodafone Idea is backed by Aditya Birla Group and Vodafone Group. The company holds 5G spectrum in 17 circles and mmWave spectrum in 16 circles, offering services across 2G, 4G and expanding 5G networks. Shares of Vodafone Idea fell 3.45% to settle at Rs 6.15 on 14 August 2025.
News18
a day ago
- News18
‘Resist The Temptation': NRI Explains Risks Of Investing In Indian Real Estate
A Reddit post has warned NRIs that buying property in India is more of a headache than a homecoming dream. A viral Reddit post has sparked a heated debate among Non-Resident Indians (NRIs), prompting questions about whether buying property back home is truly worthwhile. The user, an NRI sharing personal experience, warned fellow expatriates to 'resist the temptation" of investing in real estate in India, whether for retirement, investment, or as a safety plan. According to the post, owning property from abroad is nothing short of a 'nightmare." The user explained that the challenges begin the moment builders discover the buyer is an NRI, often charging a 'premium" for under-construction projects. Many NRIs also dream of a retirement home in India, but the post argued that people usually end up living overseas much longer than they expect. By the time they return, the property may already feel outdated. Investment Risks The post was blunt about real estate as an investment. 'For every success story, there will be 10 not-so-successful or even horror stories that you don't hear about," it read. Residential flats were described as poor investments, and even buying land was said to be risky unless trusted family members were present to prevent encroachments. The biggest disadvantage, according to the user, is that NRIs are not physically present to manage their assets. In addition, many property deals still involve black money unless the purchase is made from a top-tier builder, which the user described as 'also a major pain" for expatriates. Check the post here: When It Makes Sense The only scenario where buying might be worthwhile, the post suggested, is for 'immediate own use." For example, upgrading a family home for parents or siblings could make sense, provided their inputs are taken. The user also highlighted succession issues, warning that children born and raised abroad are unlikely to have any interest in maintaining property in India. For retirees, the advice was simple: buy a smaller 2BHK later in life rather than spending now on a 'grand villa/apt to show off that you're a successful NRI." Stories from NRIs The discussion thread drew a flood of personal experiences. A commenter said selling property as an NRI was a 'nightmare," pointing to TDS rules, mortgage-related cash requirements, and the hassle of sending money abroad through banks like SBI. Another shared how their decade-old apartment became a constant headache, from struggling to find tenants to paying repeated estate agent fees, dealing with new police verification rules, and competing against newer projects. In the end, they sold at a loss. Others shared horror stories of squatters, corruption, unreliable contractors, and endless bureaucratic delays. A user summed it up in plain words: 'Don't buy. It's an outdated investment that will take up way too much of your time for what you get out of it." The Bigger Picture Despite these concerns, India's luxury real estate market continues to grow. Strong demand from wealthy individuals, NRIs, and domestic buyers has fuelled investment in premium projects across major cities, as per Business Today. For many, high-end properties are seen as a safe way to preserve wealth, much like in global investment hubs. Reports suggest that NRIs account for 15 to 25 per cent of investments in top projects in places like Gurugram, Delhi, Mumbai, and Bengaluru. These cities are attractive because of their modern infrastructure, booming economies, and upscale housing options. top videos View all NRIs from the US, UK, UAE, Canada, and Singapore have shown significant interest, driven by their financial capacity and desire to own a slice of India's growing property market, the publication adds. But not all projects live up to expectations. For several NRIs who invested in the Ozone Urbana township in Devanahalli near Bengaluru, the dream turned into a drawn-out legal and emotional ordeal. Their experience highlights the risks hidden beneath the promise of India's booming real estate sector. About the Author Click here to add News18 as your preferred news source on Google, News18's viral page features trending stories, videos, and memes, covering quirky incidents, social media buzz from india and around the world, Also Download the News18 App to stay updated! tags : nri reddit viral news view comments Location : Delhi, India, India First Published: August 16, 2025, 11:38 IST News viral 'Resist The Temptation': NRI Explains Risks Of Investing In Indian Real Estate Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
