Author: Finance Khabar
Investing in mutual funds is a popular choice for individuals looking to diversify their investment portfolio. However, before diving into this investment avenue, it’s crucial to ask the right questions. This ensures that you make informed decisions aligned with your financial goals and risk tolerance. Here are some key questions you should consider: What Are My Investment Goals? Understanding your investment objectives is the cornerstone of any sound investment strategy. Are you saving for retirement, a child’s education, or a significant purchase? Your goals will not only dictate the types of funds you consider but also your investment horizon and…
Dreaming of your own home? Home loans can help. They’re like a helpful friend for buying your home without emptying your pockets at once. When picking a loan, the interest rate is like the price tag. Lower is better. It’s smart to compare rates from different banks to find your best deal. 5 Best Banks for Home Loans Bank of India: Rates starting at 8.30%, making it a top choice for loans ranging from Rs 30 lakh to Rs 75 lakh. Bank of Maharashtra: Offering loans at 8.35% interest, holding steady across all loan amounts. Union Bank of India: Rates…
Life is full of surprises, and sometimes we face urgent money needs. Personal loans are a quick help in these situations, giving us the cash we need for any reason without any restrictions. But, here’s a tip: always check the interest rates because they can make your loan more expensive. Let’s delve into some competitive options that offer low interest rates on personal loans: PNB: They have good deals, especially if you work for the government or a big company. Rates go from about 12.75% to 16.25%. HDFC: Their rates are between 10.75% and 24%. They also let you borrow…
In a world where market fluctuations can make or break fortunes, Post Office Time Deposits, also known as the National Savings Time Deposit Account emerge as a beacon of stability. Known for their reliability and guaranteed returns, these schemes are a go-to for those wary of the unpredictable nature of market-linked investments. Understanding Post Office Time Deposits Imagine an investment that starts from as low as Rs 1,000 and has no upper limit. Yes, you read that right! With the Post Office Time Deposit, you can invest any amount in multiples of Rs 100, making it accessible to everyone. Whether…
In the ever-evolving landscape of digital transactions, the Unified Payments Interface (UPI) has emerged as a cornerstone for cashless exchanges. However, this seamless flow hit a snag recently when a technical glitch temporarily disrupted services, leaving many users in a lurch. On an otherwise regular Tuesday evening, users of the UPI platform found themselves facing unexpected transaction failures. The root cause? A glitch in the systems of certain banks, as confirmed by the National Payments Corporation of India (NPCI). The NPCI, overseeing the UPI framework, was quick to reassure users that the hiccup was due to “internal technical issues” within…
Bengaluru, 5th February 2024: Truecaller, the leading global communications and Caller ID platform collaborates with the Department of Electronics and Information Technology (DeIT), Government of Karnataka to combat the growing incidents of cybercrime, impersonation, and fraud, and promote user safety in digital communication. Forged in the presence of Shri Priyank Kharge, Minister for Information Technology & Bio Technology and Rural Development & Panchayat Raj on the advent of Safer Internet Day, this initiative aims to empower citizens’ cyber safety awareness and skills. As a part of this collaboration, Truecaller will carry out a series of initiatives to create awareness and…
In January, Indian startups saw a substantial change in funding landscape. The total investment amounted to $732.7 million across 107 deals, marking a significant decrease from the previous month and the lowest for January in the last three years. This shift highlights the evolving nature of startup investments, with no single startup securing funding above $100 million, an unusual trend for the vibrant Indian startup ecosystem. Despite the funding dip, certain startups stood out. Ivifi, a fintech startup, led the pack with a $75 million investment, followed by other notable ventures like AiDash, Wow! Momo, and BluSmart. These companies have…
The business world was abuzz with the announcement of a potential merger between Culver Max Entertainment (Sony India) and Zee Entertainment Enterprises, promising to reshape the media landscape with a combined strength of 75 channels and two OTT platforms. This merger was poised to be a strategic fit with minimal overlap, heralding a new era in entertainment, sports, and regional broadcasting. However, the journey was anything but smooth. Regulatory challenges, particularly an interim order by the Securities and Exchange Board of India (SEBI), played a significant role in derailing the merger. The prohibition against key figures from Zee holding managerial…
Creating a diversified equity portfolio might sound like a daunting task, but fear not! With a sprinkle of humor and a dash of simplicity, we’ll guide you through the process like a seasoned investor. Understanding Diversification Imagine your investment portfolio as a pizza. If you put all your toppings in one corner, a single mishap (or a hungry friend) could ruin the entire experience. Diversification is like spreading those toppings evenly, ensuring each slice has a delightful mix. In finance lingo, it means not putting all your eggs (or toppings) in one basket. Identify Your Risk Tolerance Before diving into…
In a world where plastic rules the spending game, wielding a credit card can either be a financial wizard’s wand or a slippery slope to debt. Fear not! Here are some tips to sprinkle a little magic on your credit card game, making it a powerful ally instead of a troublesome foe. Choose Your Card Wisely Before diving into the world of credit cards, give some thought to your spending habits. Are you a frequent traveler, a shopaholic, or a budget ninja? Different cards offer various perks – from travel rewards to cash back. Treat It Like a Debit Card…
In a noteworthy revelation during the presentation of the Interim Budget 2024 by Union Finance Minister Nirmala Sitharaman, Bhutan has emerged as the leading recipient of Indian government grants and loans. The budget documents indicated that out of the total ₹6,541.79 crore allocated to foreign governments, Bhutan received a substantial ₹2,398.97 crore, surpassing the budget estimates for the fiscal year 2023-24. The breakdown of the financial assistance provided by India to other nations comprises ₹4,927.43 crore as grants and ₹1,614.36 crore as loans, showcasing a commitment to fostering bilateral relations. The total allocation for foreign grants and loans in the…
In a significant budget presentation today, Finance Minister Nirmala Sitharaman outlined the key focus areas of the Narendra Modi government’s final budget before the upcoming Lok Sabha polls. The Finance Minister emphasized the government’s commitment to transformative governance, development, and performance, encapsulated in a more comprehensive approach to Gross Domestic Product (GDP). Here’s a breakdown of the major highlights and takeaways from Nirmala Sitharaman’s Budget 2024 speech:
Finance Minister Nirmala Sitharaman has unveiled the Interim Budget for 2024-25, outlining a comprehensive strategy to foster economic growth, enhance self-sufficiency, and prioritize the welfare of citizens. The budget, marked by an 11.1% increase in the capital expenditure (Capex) outlay, reflects a commitment to fiscal responsibility and targeted initiatives to address critical sectors. Recognizing the significance of reducing India’s dependence on imported cooking oil, the budget allocates resources for the research-led growth and development of indigenous oilseeds. The aim is to make India self-sufficient in mustard, groundnut, and sesame production, a move that could potentially save over ₹1.5 trillion annually.…
In a significant move, Tata Consultancy Services (TCS) has announced a 15-year deal extension with the UK-based insurance giant, Aviva. The extended partnership is poised to bring about transformative changes in the insurance landscape, focusing on enhanced customer experience and streamlined policy administration. Under the renewed agreement, TCS will leverage its FCA-regulated subsidiary in the UK, Diligenta, to manage end-to-end policy administration and servicing for over 5.5 million policies. This strategic expansion demonstrates TCS’s commitment to providing comprehensive solutions and reinforces the company’s foothold in the insurance sector. A key highlight of the deal is the deployment of TCS BaNCS,…
Mutual funds are like the wizards of finance, doing some magical stuff with your money – at least it looks that way. But don’t worry! In this article, we’ll explain the mystery and reveal how mutual funds work in simple terms, so it’s easy to understand. The Basics: What is a Mutual Fund? Imagine a potluck dinner where everyone contributes a dish. Now, replace the dishes with money, and voila! You’ve got yourself a mutual fund. In simple terms, a mutual fund is a pool of money collected from investors to invest in a diversified portfolio of stocks, bonds, or…
The central government’s interim budget, set to be presented on February 1, marks the last budget of the current Modi-led government, and expectations are high for tax exemptions and fiscal reforms. One of the key highlights is the National Pension System (NPS) undergoing a crucial alteration. Starting February 1, the Pension Fund Regulatory and Development Authority (PFRDA) has implemented a rule allowing subscribers to make partial withdrawals for the specific purpose of purchasing or constructing their first house. This move aims to support individuals in achieving homeownership goals. In the realm of investment, the Reserve Bank of India is set…
In today’s fast-paced world, unexpected expenses can arise at any time, putting a strain on your finances. Whether it’s a medical emergency, home repairs, or consolidating high-interest debts, having access to quick funds can be a game-changer. This is where a personal loan emerges as a prudent choice for individuals seeking financial flexibility and a solution tailored to their needs. Unrestricted Usage: One of the key advantages of a personal loan is its versatility. Unlike some other types of loans that are specific to a particular purpose (like a mortgage for a home or an auto loan for a car),…
As seniors prioritize stability and security in their financial planning, fixed deposits (FDs) remain a preferred avenue for parking their hard-earned money. In this article, we explore the latest interest rates offered by the State Bank of India (SBI) for senior citizens and shed light on the Senior Citizen Savings Scheme (SCSS), a popular option at post offices. SBI’s Attractive Senior Citizen FD Rates State Bank of India (SBI), the nation’s largest lender, continues to provide an array of enticing fixed deposit rates tailored for senior citizens. As of the last update on December 27, 2023, SBI offers an impressive…
In a recent development, the Reserve Bank of India (RBI) has given the green light to Life Insurance Corp. of India (LIC) to acquire up to 9.99% stake in HDFC Bank, the nation’s largest private lender. This move comes as a significant development for both institutions, with implications for the banking sector and HDFC Bank’s shareholders. The RBI’s decision allows LIC, which currently holds a 5.19% stake in HDFC Bank, to increase its shareholding within the next year, by January 24, 2025. The central bank has directed LIC to ensure that its aggregate holding in the bank does not exceed…
Special Red Paste, Amla hair oil packs to Celebrate Ram Mandir Consecration January 23 2024: To mark the momentous inauguration of Ram Mandir in Ayodhya, Dabur India Limited today announced the launch of Special Edition Ayodhya packs of its leading brands Dabur Red Paste and Dabur Amla Hair Oil. These limited-edition pack have been designed to add an extra touch of joy and celebration to this auspicious beginning. The special packs will be available in select markets of Uttar Pradesh, Bihar and Madhya Pradesh for two months. “We are delighted to introduce the limited-edition Ayodhya packs for Dabur Red Paste…