Latest news with #NRO
Yahoo
5 days ago
- Business
- Yahoo
BlackSky Technology Inc. (BKSY): A Bull Case Theory
This stock is one of several featured in our latest research. For more small-cap opportunities with asymmetric return potential, read our free article: 10 Promising SmallCap Stocks Under $1 Billion Market Cap. We came across a bullish thesis on BlackSky Technology Inc. on Hidden Market Gems's Substack. In this article, we will summarize the bulls' thesis on BKSY. BlackSky Technology Inc.'s share was trading at $25.97 as of July 16th. BlackSky Technology, a Herndon-based space intelligence firm, operates at the intersection of satellite imagery, real-time analytics, and national security. Unlike traditional satellite players, BlackSky sells not just images but tactical insight. Its Gen-3 satellite constellation captures 35cm resolution images up to 15 times daily, with AI-enhanced analytics delivered within 90 minutes. In 2024, the company reached $102.1M in revenue, up 8% YoY—its fourth consecutive year of growth—driven largely by a +82% surge in U.S. government revenue, now comprising 60% of its mix. Anchored by a $1B+ NRO contract, BlackSky is expanding its footprint among U.S. defense agencies and allied governments. Though still unprofitable, the company is progressing toward breakeven: adjusted EBITDA improved nearly 90% to -$1.26M, net loss narrowed, and operating costs rose modestly (+2.4%) despite satellite deployments. Liquidity stands at $77M, with manageable debt of $115M and a $366M backlog. BlackSky controls every aspect of its stack—from satellite to software—ensuring speed, security, and integration, key in high-stakes intelligence. Its Spectra platform autonomously processes over a million daily observations, flagging anomalies without human prompt. Strategically, BlackSky is positioned for a GEOINT market expected to grow to $209B by 2030. It thrives in 'gray zone' conflicts and benefits from rising geopolitical distrust of Chinese and Russian tech. Civilian demand for Earth intelligence is also accelerating across ESG, climate, and logistics applications. With differentiated infrastructure, a sticky government client base, and growing automation, BlackSky offers an emerging defense-tech story with multiple structural tailwinds and the potential to evolve into a sovereign, AI-native geospatial leader. Previously we covered a bullish thesis on BlackSky Technology Inc. (BKSY) by KevinLMak in December 2024, which highlighted the company's operational leverage, strong U.S. government ties, and Gen3 satellite potential. The stock has appreciated ~119% since. This is because Gen3 execution and government contracts played out. Hidden Market Gems shares a similar view but emphasizes real-time intelligence and EBITDA stabilization. BlackSky Technology Inc. is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 9 hedge fund portfolios held BKSY at the end of the first quarter which was 10 in the previous quarter. While we acknowledge the potential of BKSY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
6 days ago
- Business
- Mint
All about NRI Bank Accounts: NRO, NRE and FCNR
For many Indians living and earning abroad, there is often a need to convert their overseas earnings (in foreign currencies) into Indian rupees to support their family back home or invest in assets in India. This article explains the key types of NRI account and helps you decide which one best suit your needs. A Non-Resident Ordinary (NRO) savings account is a type of NRI account which helps to manage NRI's income earned in India. This account accepts deposits in both Indian Rupee and foreign currency and withdrawals are available only in Indian Rupees. An NRO savings account can be operated not only by the NRI account holder but also jointly with a resident Indian or through a Power of Attorney (POA), allowing the resident to carry out permitted transactions on their behalf. Interest earnings in an NRO account are taxable at 30% under the Income Tax Act, 1961. Non-Resident External (NRE) savings account is held by NRIs, Persons of Indian Origin (PIOs), and Overseas Citizens of India (OCIs). This allows NRIs to deposit and manage their foreign earnings in India, typically in Indian Rupees. Funds held in an NRE savings account are maintained in Indian Rupees, allowing NRIs to conveniently manage their overseas income within India. Additionally, the interest earned on these accounts is fully exempt from income tax in India. Any foreign currency remitted to an NRE account is automatically converted to Indian Rupees. An FCNR deposit account is a fixed deposit which is maintained in a foreign currency. This enables NRIs to earn tax-free interest in that same currency. NRI can maintain deposits in foreign currency to avoid exchange rate risks. Both principal and interest earned in an FCNR account are fully repatriated without any restrictions. The FCNR deposits offers NRIs to grow their funds tax-free which makes it a more preferred option with flexible tenure and competitive interest rates. Deposits made with FCNR may be pledged as loan collateral. NRIs need a designated bank account in India to manage their earnings and investments effectively. Compliance with FEMA : NRIs are required to hold specific bank accounts such as NRE, NRO, or FCNR accounts to manage income and assets in India in accordance with regulations. : NRIs are required to hold specific bank accounts such as NRE, NRO, or FCNR accounts to manage income and assets in India in accordance with regulations. Repatriation of Funds : NRIs can transfer funds back to their country of residence from NRE and FCNR accounts, including both principal and interest earned, without any tax implications. : NRIs can transfer funds back to their country of residence from NRE and FCNR accounts, including both principal and interest earned, without any tax implications. Currency Management : FCNR account lets NRIs hold funds in foreign currencies which ensures their savings is not affected by exchange rate fluctuations. : FCNR account lets NRIs hold funds in foreign currencies which ensures their savings is not affected by exchange rate fluctuations. Investment Opportunities : NRI accounts facilitate investments in various Indian financial instruments such as stocks, mutual funds, and real estate. : NRI accounts facilitate investments in various Indian financial instruments such as stocks, mutual funds, and real estate. Tax Benefits: Interest earned in FCNR and NRE savings account is tax-exempted in India. If you're a Non-Resident Indian (NRI) looking for ways to handle your financial matters in India, opening an NRO, NRE, or FCNR account is a straightforward process. Step 1: Check Your Eligibility To open an NRI account, you must fall into one of the following categories: Indian citizens who are living abroad for employment, business, or studying. Overseas Citizens of India (OCI) or Persons of Indian Origin (PIO). 2. Step 2: Choose the Right Account Type The right NRI account depends on where your income is generated, whether you need full repatriation, your tax preferences, and the currency you wish to hold your funds in. 3. Step 3: Keep These Documents Ready Most banks would require the following: Valid passport Visa or residency permit Proof of overseas address PAN Card or Form 60 Recent passport size photo 4. Step 4: Apply Online or Visit a Branch Most banks now allow you to conduct a fully digital account opening process. Alternatively, you can go to a bank branch located either in India or abroad. Determine whether your income is earned in India or overseas before you open an NRI account online. Next, consider whether you need to lower your Indian tax burden, save in Indian or foreign currency, or transfer funds back to your foreign account. Your choice should be in line with your preferred currency, source of income, and degree of access to your money. To effectively manage your finances as an NRI, you must comprehend the distinctions between NRO, NRE, and FCNR accounts. You can simplify money transfers, lower your tax obligation, and maintain compliance with the correct account. Before opening an NRI account online that fits your financial objectives both in India and overseas, carefully consider your income source, repatriation requirements, and preferred currency. Note to readers: This article is part of Mint's paid consumer connect Initiative. Mint assumes no editorial involvement or responsibility for errors, omissions, or content accuracy. Want to get your story featured as above? click here!
News18
19-07-2025
- News18
How UP Conversion Kingpin Acquired The Name 'Chhangur Baba', Twisted Followers Around His Fingers
A police intelligence source revealed that Chhangur Baba used to roam around the Haji Ali Dargah in Mumbai and look out for visitors from other religions Chhangur Baba, also known as Jalaluddin, is making headlines everywhere. Many are curious about his name, which he earned because he has six fingers on his left hand. ' Changur" is slang for 'chae ungli" (six fingers). Born in Rehra Maafi village in Balrampur district, he was originally named Jalaluddin. However, due to his six fingers, people soon started calling him 'Chhangur". When he styled himself as a Peer, he was quickly named Chhangur Baba. Born into a poor family, he was shrewd and quick to seize opportunities. He mingled with local politicians and activists, hoping to find luck and make quick money. While selling lockets and trinkets and riding from village to village on a bicycle, he tried to establish himself as a 'divine" Peer with supernatural powers. He sensed a political opportunity and dabbled in local politics. He was elected as the Gram Pradhan of Rehra Maafi village and later got his wife elected to the same post. His living conditions improved, and he started travelling to bigger cities, presenting himself as an accomplished Peer. Most of his travels were to Mumbai, as many people from rural Balrampur had migrated to Mumbai and the Gulf region for work. A police intelligence source revealed that Chhangur Baba used to roam around the Haji Ali Dargah in Mumbai and look out for visitors from other religions. It was here that he spotted Neetu Naveen Rohra, who was unable to conceive and visited various temples, shrines, and dargahs. He started giving her lockets and rings with supposed supernatural powers, promising she would soon bear a child, said the officer. Neetu, a well-educated English-speaking woman, was married to Naveen Rohra from a well-to-do Sindhi family in Mumbai. Soon, Neetu conceived and had a daughter, making the couple blind followers of Chhangur Baba. He started staying in their house during his visits to the city and eventually persuaded them to convert to Islam. The couple and their daughter travelled to Dubai and converted to Islam. Neetu was renamed Nasreen, and Naveen became Jamaluddin. Chhangur Baba has emerged as one of the biggest religious conversion masterminds operating from Balrampur in UP, with connections from Nepal to the Gulf region. He is accused of converting more than 1,500 Hindu girls and a few men to Islam through brainwashing, 'love jihad", force, and blackmail. He allegedly received over Rs 100 crore in funding from abroad and controlled dozens of bank accounts. Police sources say he was part of an international conversion racket backed by Gulf-based organisations. Not only Chhangur Baba but also his close aides Nasreen (Neetu), Naveen (Jamaluddin), and his son Mehboob received funds from abroad through NRE/NRO accounts. All four are currently under arrest. The passports of Naveen and Nasreen reveal 19 trips to Dubai, and Chhangur is believed to have travelled even more frequently, sometimes using fake passports. Police sources say preachers from Dubai visited Chhangur Baba's mansion in Madhpur, Balrampur, to train his key aides and brainwash victims. Though hailing from Rehra Maafi village, Chhangur created a new base in Madhpur village, Utraula Tehsil of Balrampur district, about 40 kilometres from the Indo-Nepal border. Here, he built a massive 40-room mansion, which served as his main base for conversions and other illegal activities. Authorities found the building illegal and demolished it with eight bulldozers. Police suspect that, apart from the conversion racket, Chhangur was also involved in anti-national activities and provided a safe house for terrorists at his Madhpur mansion. Gullible girls from Nepal were also potential conversion targets. While the UP police, ATS, and STF are investigating the case, the central agency ED has also stepped in to probe international connections and money trails. Agencies are also probing his suspected links to Pakistan's ISI. Investigators found several copies of a book called 'Shizer e Tayeeba" at Chhangur Baba's Madhpur mansion. This book is not just religious, but acts as a guide on targeting potential converts and brainwashing them. Chhangur got thousands of copies of this book printed and circulated to his followers in UP, Bihar, West Bengal, Karnataka, Tamil Nadu, and Nepal. He was also planning to print a new book aimed at discrediting the Hindu religion and its alleged malpractices, according to a police source. view comments 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.
Mint
14-07-2025
- Business
- Mint
Is gifting money to my NRI son's NRO account taxable?
My son is an NRI and wants to invest in a foreign exchange-traded fund (ETF). Right now, he doesn't have enough money in his NRO account. I'm planning to gift him the required amount by transferring it to his NRO account. I want to know if there will be any tax implications for either of us because of this gift? Under Indian tax law, any gift made to a 'relative' is fully exempt from income tax, regardless of the amount. Since your son qualifies as a relative, your transfer of funds to his NRO account as a gift will not trigger any tax liability—neither for you nor your son. As per the Reserve Bank of India's Liberalised Remittance Scheme (LRS), a resident Indian can remit up to $250,000 per financial year for permitted purposes, including gifts to NRIs into their NRO accounts. While this is essentially a rupee-to-rupee transfer, the LRS includes such gifts in its overall cap. If your total outward remittance under LRS exceeds ₹ 10 lakh in a financial year, then Tax Collected at Source (TCS) at 20% applies on the excess amount. The remitting bank (authorised dealer) is mandated to deduct this TCS at the time of remittance—even for rupee gifts into NRO accounts, though in practice, some banks may not do so. If TCS is collected, you may adjust it against your income tax liability or claim a refund while filing your return. Once your son receives the funds in his NRO account, he can repatriate the amount to his overseas bank account under the $1 million remittance facility, subject to documentation. This will typically require a Form 15CB certificate from a Chartered Accountant, as required by the bank processing the repatriation. To avoid any future tax scrutiny, it's advisable to execute a formal gift deed or gift declaration letter, documenting the transfer as a bona fide gift. Finally, any income your son earns from investing the funds in foreign ETFs will not be taxable in India, since he's an NRI and such income accrues outside India. Harshal Bhuta is partner at P. R. Bhuta & Co. CAs
Economic Times
12-07-2025
- Business
- Economic Times
Can NRIs open a PPF Account? Know the rules, restrictions and closure options
Getty Images PPF The Public Provident Fund (PPF) is one of the most trusted long-term savings schemes in India. The PPF offers guaranteed returns, tax benefits, and government-backed security. While it is an attractive option for Indians residing in India looking to build wealth and save on taxes, non-resident Indians (NRIs) often wonder whether they too can benefit from this scheme. According to current rules, NRIs, Persons of Indian Origin (PIOs), and Overseas Citizens of India (OCIs) cannot open a new PPF account. According to government regulations, only Indian residents are eligible to open a PPF account. Can a PPF account be continued if the account holder becomes an NRI? According to the SBI FAQs on PPF, "A resident who subsequently becomes NRI during the currency of maturity period prescribed under the Public Provident Fund Scheme, may continue to subscribe to the fund till its maturity on a non-repatriation basis. However, these accounts cannot be extended further." Public Provident Fund: Has the interest rate for July-September 2025 been revised? This means that if a resident Indian becomes an NRI at a later date, then they can continue their PPF account till the maturity date. However, the PPF account cannot be extended after maturity. Can I prematurely withdraw money from PPF account after becoming NRI? The rules for premature withdrawals are quite strict for resident Indians with a PPF account. Premature closure is permitted after five years of account opening completion under specific circumstances, but penalties apply. According to the ICICI Bank website, "As per the Public Provident Fund Scheme, 2019 issued by the Government of India, NRIs can prematurely close their PPF account only after five years from the account opening date."The bank further adds, "Once you change your residency status to an NRI and submit a copy of your passport, visa, or income tax return to your bank or post office where your PPF account is held, you can prematurely close your account if you wish to." What will happen to the PPF account if it continues until maturity after the account holder becomes an NRI? Once the PPF account reaches maturity, it is mandatory to close the account of NRIs. This requires the NRI account holder to withdraw the funds. The entire maturity amount will be credited to your Non-Resident Ordinary (NRO) account. "As per official guidelines, the matured funds are non-repatriable and must be processed via the NRO account" as per DCB Bank website. Can an NRI become nominee in the PPF account? Yes. Non-resident Indians shall be eligible to be nominated as a nominee, subject to the condition that payment to such nominee/s shall be on a non-repatriation basis. This means that the money received by NRI nominee will be credited to the NRO account. Current PPF interest rates The PPF interest rate for the July-September 2025 is 7.1% per annum. The Indian government reviews and may change interest rates on a quarterly basis. The interest rate, set quarterly by the Government of India, ensures steady returns, while the interest earned remains tax-free. Loan against their PPF account NRIs can avail a loan against their PPF account from the third to the sixth financial year of opening the account. This means that if you apply for a loan during the fifth year of PPF holding, then the loan that can be availed will be a maximum of 25% of the closing PPF balance at the end of the third Financial Year (April-March). N.R. 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