Ultra-HNI count up 6.4% in 2019; India to see 73% rise in 5 years

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The world added 31,000 ultra-high net worth individuals (UHNWIs) to its fold in 2019, taking the total number of such people – those with a net worth of $30 million or more – to 513,200, says the Knight Frank Wealth Report for 2020. This translates into a 6.4 per cent jump over 2018.

India, according to Knight Frank, ranks 12th and had 5,986 such individuals in 2019, which is likely to reach 10,354 by 2024. The number of billionaires in India, on the other hand, is likely to reach 113 by 2024, up from 104 in 2019. Amongst asset classes, Indian UHNWIs are most aggressive in equity investment with 72 per cent willing to invest in this asset class compared to a global average of 29 per cent.


The survey is based on responses provided during October and November 2019 by 620 private bankers and wealth advisors who manage over $3.3 trillion of wealth for UHNWI clients spread across 200 countries and territories.

domination

North America, according to Knight Frank, dominates the UHNWI landscape, with over double the UHNWI population of Europe.

Asia, on the other hand, is quickly closing the gap on Europe

NTPC to commission second 800-Mw unit at Darlipalli in Q2 of FY21

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Ltd, the country’s largest power generator, aims to commission the second 800-Mw unit of its super thermal power station at Darlipalli in Odisha in the second quarter of the next financial year.


The maharatna power producer commercialised the first 800-Mw unit on March 1 this year.



“Odisha is entitled to 470-Mw power from Darlipalli. We have tied up purchase agreements with Meghalaya, Assam and Tripura. Some power will also be fed to Bihar and Chhattisgarh,” said Sanjeev Kishore, Regional Executive Director (Eastern Region II), Ltd.


NTPC’s power plants under the jurisdiction of Eastern Region II have an average Plant Load Factor (PLF) of 75 per cent, bettering the power producer’s pan-India average of 67.13 per cent. Average PLF of all power plants across the country stood at 55.84 per cent.


“Load at thermal power plants has dipped owing to sagging power demand and disruption in coal supplies. Besides, there is increasing generation from renewables and hydro power,” kishore told reporters in Bhubaneswar.


Eastern Region II has an installed capacity of 5,020 Mw. The portfolio of power projects includes Talcher Thermal Power Station

Getting a mortgage with bad credit – is it possible?

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Buying a home in today’s market can seem particularly hopeless for people with poor credit scores – and that’s before you have to cough up large deposits.

Even people with exceptional credit histories can be tripped up when lenders run through affordability, earnings and monthly outgoings with a fine-tooth comb and identify red flags.

There are stories of people being rejected because they’ve never been in debt – so even though they’ve kept their noses clean, because they’ve never had any form of credit, there just isn’t enough information for lenders to lend.

Wait, before you go clicking off this article, it’s not all doom and gloom – these factors aren’t a reason for people to simply abandon their homeowner dreams. There is still hope; even if you do have a poor credit score, CCJs, missed payments, or little to no credit history, and we’re going to share some pointers with you.

If you’ve already been rejected, do not give up straight away

Each lender applies differing criteria when lending, and with hundreds of lenders available to choose from in the UK, it really is worth seeking some expert independent advice. What one lender may find unacceptable, another can be

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