Author: Finance Khabar
Finance Desk – Recently, banks in India have reported a issue of shortage of automated teller machines (ATMs) across the country to the government and the Reserve Bank of India (RBI). Senior bankers expressed concerns about the ability of ATM vendors to meet demand. A reason behind this shortfall might be because of ‘Make in India’ initiative launched in financial year 2020, which encouraged the production of goods within the country. However, setting up operations in India took longer than expected, which has led to the current shortage. Another issue is the registration of ATM vendors on the government’s e-marketplace.…
Finance Desk – The Indian Banks’ Association (IBA) announced a significant update to the dearness allowance (DA) for the months of May, June, and July 2024. The dearness allowance for bank workers has been increased to 15.67% for May, June, and July 2024. Now, bank employees will receive a slightly higher percentage of their basic salary as part of their total earnings. How DA is Calculated The calculation of the dearness allowance is based on the Consumer Price Index (CPI). For the latest quarter, the average CPI was 139, compared to a base of 123.03 points. This difference leads to…
Finance Desk – The Health Department has recently outlined a new health insurance plan specifically for state government employees and retirees. This health insurance initiative will be valid from July 1, 2021, through June 30, 2025, for current employees, and from July 1, 2022, to June 30, 2026, for pensioners. It aims to provide comprehensive medical coverage and benefits. Features: Benefits for Pensioners: (Image/Pixabay)
Finance Desk – The Securities and Exchange Board of India (SEBI) has recently announced important changes for demat and mutual fund account holders. Previously, SEBI required all investors to nominate someone for their demat and mutual fund accounts. If investors did not comply, their accounts could be frozen. Now, SEBI has decided to remove this rule. Investors don’t need to worry about their accounts being frozen if they haven’t made a nomination. Investors holding securities in physical form will continue to receive payments and can still lodge complaints or request services even without a nomination. However, SEBI still encourages all…
Finance Desk – The Reserve Bank of India (RBI) has recently taken action against India Home Loan Limited, a Mumbai-based company. Not only this, they have also take action against three cooperative banks for not follow regulatory guidelines. India Home Loan Limited faced a penalty of Rs 1 lakh as they did not follow the rules set by the National Housing Bank (NHB). It has been claimed that the company had given out loans that exceeded the allowed Loan to Value (LTV) ratio. Despite being given a chance to explain its actions, the RBI decided to impose the penalty. Moreover,…
Finance Khabar: Whenever you are taking a personal loan, EMI (Equated Monthly Installment) calculator can help you in the process. This simple tool help you understand how much you will need to pay back each month. What is an EMI? EMI stands for Equated Monthly Installment. It’s the fixed amount you pay to the lender every month until your loan is fully paid off. This payment includes both the interest and the principal amount. Why Use an EMI Calculator? How Does an EMI Calculator Help? Factors Influencing Your EMI EMI Calculators in Online Loan Applications ( Image/Pixabay)
Finance Desk – As a new government prepares to take charge, there’s a buzz of optimism among banks regarding the liquidity conditions. But first let know, what is liquidity in banking world, it means how much cash banks have on hand to meet immediate demands. When banks have a shortage of this cash, it’s called a liquidity deficit. In the past few months, banks have been tight on cash. This was because the government hadn’t been spending as much money, also, there were cash outflows due to payments related to the Goods and Services Tax (GST). To help banks manage,…
Google has recently launched a new initiative “Google for Startups AI Academy: American Infrastructure”. This program is aim to integrate artificial intelligence (AI) technology into public sectors on areas such as agriculture, energy, education, and more. The program spans 12 weeks and is specially tailored for startups that are keen on utilizing AI. Participants will not only gain invaluable insights developed by Google’s People + AI Research (PAIR) team but will also partake in advanced workshops focused on sales and market strategies. This initiative is equity-free nature, this means startups can participate without giving up any ownership stakes. Graduates from…
Finance Desk – Health insurance is about to get faster in India because of the new regulations from the Insurance Regulatory and Development Authority of India (IRDAI). IRDAI has now mandated that health insurance companies must settle cashless claims within 3 hours. This simply means, when your family member is hospitalized, the insurer needs to approve your cashless treatment request within just 1 hour. If they fail then, any extra charges incurred will be the insurer’s responsibility. Before this, hospitals and insurance companies took a long time to settle bills. Now, the new rules make this quicker by reducing the…
Finance Desk – What to use a debit or credit card? it’s important to understand the basic differences. Both types of cards offer convenient ways to pay, but they work differently. Debit Card: A debit card is a direct linked to your bank account. When you buy something with a debit card, the money comes out of your account saving. You’re spending your own money. Credit Card: A credit card is like a short-term loan. Every time you use it, you’re borrowing money from the credit card company. You can spend up to a certain limit set by the company.…
Want to grow your saving? If yes, then major banks like IDBI Bank, Indian Bank, and Punjab & Sind Bank are offering attractive interest rates of up to 8% on fixed deposit schemes. But the offers are only available until June 30, 2024. So hurry up! These special fixed deposits are time-bound schemes that banks offer periodically. They provide higher interest rates compared to regular deposits. IDBI Bank Utsav FD: 300 Days: 7.05% per annum; Senior citizens 7.55%. 375 Days: 7.1% per annum; Senior citizens 7.6%. 444 Days: 7.2% per annum; Senior citizens 7.7%. Indian Bank Special FD: Ind Supreme…
Finance Desk – Recently, Richa Chadha shared some personal insights on financial planning during a podcast called UnStreeOType. She highlighted the importance to invest in mutual funds and the stock market for the women. Richa share that her own investment in a mutual fund came to her rescue during her wedding to actor Ali Fazal. They both also announced they are expecting their first child. She faced unexpected expenses as they were also funding a film. She said, the returns from her mutual fund over the costs of one of the wedding ceremonies. The actress urged women not to rely…
Finance Desk – The real estate market is growing rapidly and more people want to invest to own their dream home. However, getting a home loan requires careful planning. Here’s a simple guide. By following these simple steps, you are ready to take on a home loan. (Image/Pixabay)
Finance Desk – When considering whether to use instant loan apps for personal loan, it’s important to know the pros and cons carefully. Here are some straightforward points you should know: By keeping these points in mind, you can make a more informed decision about whether to use an instant loan app or not. (Image/Pixabay)
Finance Desk – Fixed deposits (FDs) are one of the most secure investment options available. With this the State Bank of India (SBI), offer FDs with varying time frames such as 1-year, 2-year, and 5-year durations. Although SBI has several FD options, but their 5-year FD stands out due to its tax benefits under Section 80C of the Income Tax Act. So consider is a smart choice for reducing your taxable income. How Rs 5 Lakh Investment Grow? Principal Amount: Rs 5 lakh Interest Rate: 6.50% per annum Duration: 5 years If you invest Rs 5 lakh in this FD,…
Finance Desk – Google Pay introduced a new helpful feature that lets users to easily view the benefits of your credit cards while shopping online. Now, when you check out using Google Pay on your laptop, you can see what rewards or savings your credit cards offer which includes cash back or any extra points. Right now, this feature is available for some American Express and Capital One cards. Google will include more cards in the future. When you pay and choose a credit card, a menu will pop up showing each card and its benefits. Isn’t it amazing? Additionally,…
Meerut – Making it to the Forbes 30 Under 30 Asia list is a prestigious milestone for young entrepreneurs, celebrating those who have made significant achievements before turning 30. This year, Forbes has selected Sunny Garg, Shaifali Jain, and Archit Chauhan, co-founders of Crib, a digital ecosystem that connects landlords, tenants, and entrepreneurs. Crib, founded in 2022, offers a comprehensive SaaS-based solution for landlords that enhances operational efficiency, streamlines finances, and boosts sales. For tenants, Crib provides a modern platform to explore and book properties while enjoying exclusive discounts. Sunny Garg, hailing from Delhi, and Shaifali Jain from Meerut, were…
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…