  Present work reports on the observation of multiple magnetic transitions in a
Ni-excess ferromagnetic shape memory alloy with nominal composition
Ni$_{2.048}$Mn$_{1.312}$In$_{0.64}$. The magnetization data reveal two distinct
thermal hystereses associated with two different phase transitions at different
temperature regions. The high temperature magnetic hysteresis is due to the
martensitic phase transition whereas the low temperature hysteresis occurs
around the magnetic anomaly signifying the transition from a paramagnetic-like
state to the ferromagetic ground state within the martensite. Clear thermal
hysteresis along with the sign of the curvatures of Arrott plot curves confirm
the {\it first order nature of both the transitions}. In addition, the studied
alloy is found to be functionally rich with the observation of large
magnetoresistance (-45\% and -4\% at 80 kOe) and magnetocaloric effect (+16.7
J.kg$^{-1}$.K$^{-1}$ and -2.25 J.kg$^{-1}$.K$^{-1}$ at 50 kOe) around these two
hysteresis regions (300 K and 195 K respectively).
