Author: Finance Khabar
New Delhi: Flipkart co-founder Binny Bansal has sold his shares of the e-commerce company (Flipkart) to the global fund Tiger Global for over $ 14 million (up from Rs 100 crore). This information came from a document by a data intelligence platform Paper.vc . Paper.vc said that the information given by Flipkart to the stock markets indicates that Binny Bansal has sold the shares for the third time after Walmart acquired Flipkart. This time Bansal has transferred his stake to two funds of Tiger Global. It states that Bansal has acquired the current shareholder Internet Fund lll Pvt. Ltd. sold…
New Delhi. There is going to be a golden opportunity for soldiers who protect the country, especially for those who are retired. Amazon India will create employment opportunities in the company’s supply centers and distribution centers for ex-servicemen and for their spouse. Amazon India is partnering with the Directorate General of Rehabilitation ( #DGR ) office and the Military Welfare Appointment Organisation ( #AWPO ) to create employment opportunities for military families. Akhil Saxena, senior vice president of Amazon’s Asia operations, said that Amazon India has hired ex-servicemen in various roles in the company. These include operations related to transportation,…
New Delhi. Government e-marketplace of Ministry of Commerce and Industry for the benefit of micro, small and medium industries, women entrepreneurs, self-help groups, women self-help groups, various loan beneficiaries under ‘Mudra’ and ‘Stand-up India’ scheme (GEM) signed an MoU with the Small Industries Development Bank of India (SIDBI). The MoU was signed in New Delhi yesterday. The agreement will encourage GEM’s special initiatives such as ‘Womaniya’ and start-up runways in collaboration with SIDBI stakeholders. Speaking on the occasion, TEMLIN KUM, CEO of GEM said that partnership with financial institutions like SIDBI is very important, as it will benefit MSMEs, micro…
Now enables customers to avail advanced features such as EMI conversions, balance transfer options or loan on credit card Enables simplified customer experience SBI Card, one of the leading credit card issuers in the country, has rolled out its chatbot ‘ILA’ (Interactive Live Assistant), on its mobile app to further enhance consumer experience. ILA has 40 plus innovative features making SBI Card one of the first in the industry to offer a complete suite of self-service functionalities increasing convenience for the customers. The latest version of the chatbot enables advanced features such as EMI conversions, balance transfer options and loan…
Pune,Over generations, residential or commercial properties have been considered as one of the safest appreciating assets. It is not unheard of, that investments have been made in properties not only with the intention of a higher return on investment, but also as a safety net in times of financial emergencies. A property can be used in case of an emergency to take a loan. Whether it is a self-occupied residence, or an owned commercial property, either of it can be used as a collateral to avail the Loan Against Property option. Bajaj Housing Finance Ltd (BHFL), a 100% subsidiary of…
A research conducted by Gary Brinston, Brian D. Singer and Gilbert L. Beebower on Determinants of Portfolio Performance found that asset allocation is the key to portfolio performance which accounted to 91.5%. This was followed by security selection, market timing and a few other factors all of which contributed only 8.5%. So, as investors what one should be most conscious about when investing is the asset allocation one follows. Investor Actions It is a known fact that investors tend to follow the herd mentality. When the market is at peak, looking at the stellar gains already made, investors tend to…
Pune : Making a premature withdrawal from your fixed deposit may seem to be the best option when you need quick funding for a short period, be it to pay for an unplanned medical treatment or undertake urgent home repair work. However, a premature withdrawal has certain negative consequences, due to which most financial experts advise against it. Here’s why you shouldn’t break your FD before maturity: Premature FD withdrawals come at a cost Issuers charge a penalty when you withdraw finances from your fixed deposit prematurely. While the fee varies across issuers, it is generally calculated at a 0.5%…
You have to wait out the reset period, which varies from three months to one year, to enjoy the benefits of the MCLR cut. Will I get the benefits of a rate cut? Would my EMIs (equated monthly instalments) reduce? These questions get played almost on a loop each time the Reserve Bank of India (RBI) slashes interest rates. The RBI on its part has cut rates by 110 basis points so far this year. But, as always, banks have been reluctant to pass on lower rates to borrowers, and even when they did, the gains to borrowers have been…
Pune, Maharashtra: Perspective towards health and wellness in India has witnessed a paradigm shift in the last 5 years. Taking care of one’s health or way of life is not restricted to annual medical check-ups or routine workouts anymore. The urban Indian lifestyle is evolving and the change is steadily paving its way to mini-metros and smaller Indian towns as well. The new-age lifestyle encompasses informed nutritional choices, mental well-being, cosmetic refinements and a more holistic attitude towards life. Apart from the lifestyle improvements, the previously ignored health issues like stress, body pains, dental concerns, etc. to are now checked…
Bajaj Finance Ltd NRI FD comes with a high interest rate, safe investment, multiple deposits among other attractive features Offers flexible tenor options between 12 and 36 months Pune , Bajaj Finance Ltd, a deposit accepting Non-Banking Financial Institution (‘NBFC’) and a lending arm of Bajaj Finserv group, has announced its new offering of Fixed Deposit to NRIs enabling them to benefit from high returns of up to 8.95%. Bajaj Finance Fixed Deposit for NRIs offers flexible tenor options between 12 months and 36 months, along with multi-deposit and easy renewal facilities. NRIs can easily invest in a Bajaj Finance…
Sebi circular, which applies to closed-end funds, imposes a 2-year limit for returning money in investments that become non-performing or illiquid at the time of maturity or winding up of the scheme Fund houses which have bad debt in an FMP can either extend the FMP, hold back units or pay the market value of the FMP on redemption An investor in a fixed maturity plan (FMP)—DSP FMP – Series 196 – 37M maturing on 1 August—recently reached out to Mint following a communication from the fund house. DSP Mutual Fund’s email to the investor pointed to the FMP’s exposure to DHFL…
Journalist and food-tech entrepreneur Vir Sanghvi has invested in product review startup Mishry.com. The Gurugram-based startup Mishry is India’s first content destination that aims at filling the gap between consumers and the right products to buy in the kitchenand dining space. It is a verdict-driven platform that recommends best buying options for a range of categories like groceries, snacks, dairy products and kitchen appliances like blenders, microwaves, refrigerators, air fryers, etc. “Reviews are getting more and more acceptance across the world – more so pre-saIe reviews, which by default are research and expert-driven. While consumers in the tech and auto sectors have enjoyed expert-driven reviews all…
IDFC Bank offers FDs with maturities ranging from 7 days to 10 yearsSenior Citizens get an additional spread of 50 basis points over the rate of general customers IDFC First Bank latest FD rates (below ₹2 crore) for general public 7-14 days 4.00% 15-29 days 5.00% 30-45 days 6.25% 46 -90 days 6.50% 91-180 days 6.75% IDFC First Bank latest FD rates (below ₹2 crore) for general public for maturity between 1 year and 2 years For 181 days to 1 year maturities, IDFC First Bank gives 7.00% interest. For 1 year 1 day to less than 2 years, the bank offers…
RBI has taken a grand step of changing ATM transaction rules for the benefit of consumers. This step is being seen as a big relief for the consumers. Issues like “transaction failed”, balance enquiry, cheque book request, tax payment and fund transfer will not be counted as ATM transactions. In case consumer attempts an ATM transaction and enters wrong PIN, it will also not be counted as a transaction. RBI also clarified that no charges will be levied for a failed transaction. It may be noted that some banks provide the facility of free transactions on ATM for a certain period…
Kotak Mahindra Bank changed interest rates with effect from 9th AugustMany banks including ICICI Bank, Axis Bank, SBI and PNB have revised their FD interest rates this month Kotak Mahindra Bank has revised interest rates on fixed deposits (FDs) days after RBI reduced repo rate earlier this month. Kotak Mahindra Bank’s new FD rates came into effect from 9 August 2019. Other private sector lenders Axis Bank and ICICI Bank also revised interest rates effective 10th and 14th August respectively. Kotak Mahindra Bank offers an interest rate ranging from 3.50% to 6.90% for FDs maturing in 7 days to 10 years. The bank has reduced interest…
Shares of Yes bank closed at Rs 79.45 per share, up 3.79 per cent on BSE on Friday. NEW DELHI: The Yes Bank’s Board has approved issue of 231,055,018 equity shares with face value Rs 2 each to eligible qualified institutional buyers at an issue price of Rs 83.55 per equity share. The equity sale will fetch the bank some Rs 1,930.46 crore. The share sale to QIPs is being done at a discount of 4.95 per cent to the floor price of Rs 87.90 per equity share. Post the allotment of equity shares to the QIPs, the paid-up equity share…
Ride-hailing service Ola announced the acquisition of ‘pikup.ai’, an artificial intelligence (AI) start-up based out of Bangalore, for an undisclosed sum.pikup.ai uses autonomous technologies like AI, computer vision and sensor fusion to provides seamless AI-powered solutions for businesses. Ola is increasing its focus on using advanced analytics and deep technology to build futuristic mobility solutions for India and the world. Earlier this year, Ola announced its intent to set up an Advanced Technology Centre in the San Francisco Bay area to focus on developing next-generation technologies in mobility like electric, connected and autonomous vehicles.”As we advance on our mission to build mobility…
The Reserve Bank on August 13 announced that housing finance companies (HFCs) will be treated as one of the categories of NBFCs for regulatory purposes and will come under its direct oversight. The Finance (No 2) Act, 2019 (23 of 2019) has amended the National Housing Bank Act, 1987, conferring certain powers for regulation of Housing Finance Companies (HFC) with Reserve Bank of India, it said in a release. The RBI direction comes after notification issued by the central government, it added. Nirmala Sitharaman, the Finance Minister in her maiden Budget 2019-20 speech in early July had announced that the National Housing Bank (NHB) will…
Borrowers of repo-linked home loans are able to benefit from the cut in interest rates from the month after the RBI’s monetary policy announcement Here’s a home loan scheme that links interest rates to an external benchmark, the repo—set and declared by the Reserve Bank of India (RBI) in its bi-monthly monetary policy review. State Bank of India (SBI) was the first public sector bank to launch a repo-rate linked home loan scheme, effective July 2019. So, in case of a change in policy repo rate, the repo linked lending rate changes from first day of the following month, which is a…
According to ICICI Bank’s latest FD rates, maturities between 18 months to 2 years and 2 years 1 day up to 3 years fetch the highest interest ratesMany banks including SBI, HDFC Bank, PNB and Canara Bank have revised their FD rates month Private sector lender ICICI Bank today revised interest rate on fixed deposit or FD rates. This comes days after the Reserve Bank of India (RBI) cut interest rate for the fourth time this year. ICICI Bank offers fixed deposits from maturities ranging from 7 days to 10 years. Senior citizens continue to get 50 bps higher interest…