Author: Finance Khabar
Meerut — Bharti Airtel (“Airtel”) and Google Cloud today entered into a long-term collaboration to deliver cloud solutions to Indian businesses. The strategic collaboration will offer a suite of cutting-edge cloud solutions from Google Cloud to fast-track cloud adoption and modernization for Airtel’s customers. In addition, Airtel will provide a suite of cloud managed services to its customer base of more than 2,000 large enterprises and one million emerging businesses. Through this collaboration, the two companies are targeting the large and growing Indian public cloud services market, which is expected to reach $17.8 billion by 2027, according to IDC.* The…
Finance Desk – A recent survey found that over 40% of people who tried to claim their health insurance faced issues. Let’s break down this: A group called LocalCircles conducted a survey and discovered that many people have trouble getting their medical bills paid by their insurance. Problems with Claims: Many people face issues like their claims being rejected, or facing delays in the insurance company. Confusing Terms: Insurance documents often use complex language that can confuse you about what is covered and what is not. Pre-existing Conditions: Sometimes, claims are rejected if the insurance company thinks the medical issue…
Finance Desk – Mutual funds are a popular choice for investing because they offer good returns. Not only this, you can also use mutual funds to get loans when you need money. Biggest advantages of getting a loan against your mutual funds is that you don’t have to sell your investments. The interest rates for these loans are usually between 9% and 11%. This means you end up saving money on interest. Getting a loan against mutual funds is now faster and less complicated. You can get the funds you need without a long wait. You can borrow money as…
Finance Desk – There are several strategies that can significantly lower your taxes. From taking advantage of home loan deductions to investing in health insurance, here are four straightforward methods to save on taxes. Invest in a Home Loan You can save up to ₹1.5 lakh on the principal amount under Section 80C of the Income Tax Act. Plus, you can also save up to ₹2 lakh on the interest you pay on the home loan under Section 24B. That adds up to ₹3.5 lakh in total tax savings. Get Health Insurance You can get a tax rebate of up…
If you’re thinking about taking out a personal loan, you’ll be interested to know that the process is getting much easier. Here’s a breakdown of five major trends: Digital Lending Platforms: Now, you can apply for a personal loan using digital platforms. These platforms make the application process quick with fast approval times. Innovative Credit Assessment: Instead of looking at your credit score, more lenders are now considering other aspects like your bank transactions or how regularly you receive income. Better Deals from More Competition: As more lenders enter the market, they’re trying to attract customers by offering better terms.…
Financed Desk – Fixed Deposits (FDs) have always been a favorite choice among conservative investors. A popular choice is the 5-year FD, because it offers tax benefits under Section 80C of the Income Tax Act, for investments up to Rs 1.50 lakh. Whereas, retirement mutual funds, offer potentially higher returns but come with market risks. An example of such a fund is the ICICI Prudential Retirement Fund – Pure Equity Plan, which has a five-year lock-in period Investment in a 5-Year Fixed Deposit: If you put Rs 5,00,000 into a post office 5-year FD with an annual interest rate of…
Meerut : Bharti Airtel (“Airtel”), one of India’s leading telecommunications service providers, today, unveiled affordable international roaming packs for customers travelling abroad. The new packs include access to 184 countries and the tariffs start at as low as Rs. 133/day, making them an affordable option even when compared to local sims. In addition, they offer enhanced data benefits, in-flight connectivity and 24×7 contact centre support. To make things as convenient as possible, Airtel has also ensured that customers travelling to these 184 countries no longer need subscribe to multiple packs for various travel destinations and have the convenience to simply…
Finance Desk – When to pay your credit card bill helps you maintain a healthy credit score, avoid unnecessary fees. Here’s a simple guide to help you. What is a Credit Card Statement? A credit card statement is a summary provided by your credit card issuer that lists all the transactions. It includes all your purchases, and any cash advances. Why is the Due Date Important? The due date on your credit card statement is the deadline by which you must pay at least the minimum amount due. This date is typically 20-25 days after your statement date. Best Practices…
Finance Desk – The Insurance Regulatory and Development Authority of India (IRDAI) has recently announced significant changes to health insurance regulations. They open new opportunities for individuals over 65 years old and those with serious health conditions. This move marks a progressive shift towards more inclusive health care insurance coverage, include demographic groups senior citizens, students, children, and those with maternity needs. Health Insurance Guidelines: ( Image/Pixabay)
Finance Desk – Investing in mutual funds has become increasingly popular in India. A Demat account plays a crucial role in this context by simplifying how investors handle their investments. What is a Demat Account? A Demat account is essentially a digital wallet for your investments. It holds your financial securities like stocks, bonds, and mutual funds in electronic form. Let’s take a look how you can manage mutual funds investment through Demat Accounts: (Image/Pixabay)
Finance Desk – As interest rates hike, managing your home loan becomes crucial. So, here are some straightforward strategies to help manage your equated monthly instalments (EMIs). Consider Prepayment Paying off a part of your loan early can significantly reduce the amount of interest. If you have some extra cash, like a bonus or a significant financial windfall, using it to prepay your home loan. Home Loan Overdraft Facility A Home Loan Overdraft (HLOD) facility allows you to deposit surplus funds. Interest is calculated on the net balance, effectively reducing the loan amount temporarily and decreasing the interest you owe.…
Finance Desk – When you need a personal loan, you might come across two main types: secured and unsecured. Let’s break down it, so you can make an informed decision. What is a Secured Personal Loan? A secured personal loan requires you to offer something valuable you own as collateral. This collateral could be your car, savings account, or even valuable items like jewelry. If you can’t pay back the loan, the lender can take your collateral. Benefits of Secured Personal Loans Lower Interest Rates: They usually offer lower interest rates compared to unsecured loans. Higher Loan Amounts: You can…
Finance Desk – Many people choose corporate fixed deposits issued by non-banking financial companies (NBFCs) and housing finance companies because they often provide higher interest rates. Here we have listed down best corporate FD options available in April 2024 Shriram Finance Shriram Finance has recently boosted its fixed deposit interest rates by up to 20 basis points for various tenures. As of April 9, 2024, women senior citizens can enjoy an interest rate of 9.4% per annum on FDs for 50 and 60 months. This rate includes extra benefits of 0.50% for senior citizens and an additional 0.10% for women.…
Investing in mutual funds offers individuals a convenient and accessible way to participate in the financial markets, allowing them to pool their money with other investors to buy shares in a diversified portfolio of assets. However, successful mutual fund investing requires a nuanced understanding of how asset allocation influences investment outcomes, particularly in terms of managing risk and maximizing potential returns. Exploring asset allocation: Asset allocation serves as the foundation of investment strategy within mutual funds, encompassing the process of distributing investments across different asset classes such as stocks, bonds, and cash equivalents. Each asset class presents varying levels of…
Finance Desk – March 2023 witnessed some notable shifts in India’s mutual fund landscape, particularly affecting smallcap and midcap funds. For the first time in two and a half years, smallcap mutual funds experienced net outflows. Specifically, these funds saw a withdrawal of Rs 94 crore. This change follows a period of rising concern from the Securities and Exchange Board of India (SEBI). Midcap funds inflows dropping dramatically by 44 percent to Rs 1,018 crore. SEBI’s recent instructions for mutual funds to conduct thorough reviews of their small and midcap holdings for liquidity and volatility likely contributed to this cautious…
Finance Desk – The new scam has emerged, targeting unsuspecting motorists with what appears to be official e-challan (electronic traffic violation fines) notifications. One such incident recently unfolded in Mumbai, where a businessman became a victim, losing Rs 3 lakh to scammers. The incident in question involved a businessman from the Peddar Road area in Mumbai. He received an SMS about an e-challan against his car, urging him to pay the fine promptly. The message looked legitimate enough for him to follow the provided link and download an app named ‘vahanparivahann.apk’. Unfortunately, even after attempting to make the payment through…
Finance Desk – As you all know starting from April 1st, insurance policies in India has taken a leap into the digital age. The Insurance Regulatory and Development Authority of India (Irdai) has introduced a new rule requiring all insurance policies to be issued digitally. The aim of this rule is making the management of policies more streamlined and secure for policyholders. With an e-insurance account (eIA), you can keep track of all your life, health, and general insurance policies in one secure place. This is not only for convenience but also about ensuring the safety and accessibility of your…
Finance Desk – Tata Mutual Fund has recently unveiled six new index funds. These funds were launched on April 8 and include a variety of sectors such as auto, realty, financial services, healthcare, manufacturing, and infrastructure. With a minimum investment of Rs 5,000, investors have a unique opportunity to diversify their portfolios across different industries and market capitalizations. The New Fund Offers (NFOs) for these index funds will be open until April 22. These are the Tata Nifty MidSmall Healthcare Index Fund, Tata Nifty500 Multicap India Manufacturing 50:30:20 Index Fund, and Tata Nifty500 Multicap Infrastructure 50:30:20 Index Fund. Created in…
Finance Desk – The Reserve Bank of India (RBI) has recently made a crucial decision that impacts many of us, especially those with home loans or those looking to buy a home soon. On April 5, 2024, the RBI’s Monetary Policy Committee (MPC) chose to keep the repo rate steady at 6.50%. What is the Repo Rate? The repo rate is the interest rate at which the RBI lends money to commercial banks. A higher repo rate makes borrowing more expensive for banks, which in turn makes loans more expensive for us. A lower repo rate does the opposite. RBI…
Finance Desk – In the world of personal banking and loans, there’s been a noticeable shift. The personal loans category includes unsecured loans like credit card debts and consumer loans, is starting to slow down. But what’s the reason behind this? Actually, the main reason is Reserve Bank of India’s (RBI) decision to increase the risk weight on personal loans last year. The RBI asked banks and financial institutions to set aside more money as a precaution for loans that don’t have any collateral. Collateral is something of value, like a house or car, that can be taken by the…