Author: Finance Khabar
New Delhi – Sati Poly Plast Limited is an ISO Certified Company engaged in the manufacturing of flexible packaging material which is multifunctional and caters to the packaging requirements of various industries. The company provides end-to-end solution for various flexible packaging needs. Sati Poly Plast Limited has filed the Red Herring Prospectus with NSE Emerge for raising funds through public offer. The company will issue fresh equity shares of up to 13,35,000. The IPO is open from 12 -16 July, 2024. SATI POLY PLAST Limited IPO details: Total Equity Shares- 13,35,000 Price Band – Rs.123-130 Face Value- Rs.10 Lot Size-…
Finance Desk – Creating a personal budget is important to save money for the future. So, we’ll explore a few popular budgeting methods that align with your financial goals. Remember, the key is to find a system that fits your lifestyle. The 50/20/30 Rule 50% on Needs: Includes all your essential expenses. 20% on Savings: Allocate a fifth of your income to savings. 30% on Wants: Remaining portion can be used for leisure, or hobbies. This method not only helps manage your spending but also promotes a healthy balance between financial health. Pay Yourself First Prioritize saving by setting aside…
Finance Desk – Commodity trading on the Multi Commodity Exchange of India (MCX) will start one hour later than usual today. This delay is due to technical issues that affected the end-of-day processes. An official statement on the MCX website said, “The End-of-day processes for yesterday’s trade date have been delayed due to some technical issues and hence the special session will start at 09:45 am and market will start at 10:00 am today.” MCX operates its regular trading sessions from Monday to Friday, beginning at 9 a.m. and concluding at 11:30 p.m. The trading hours are split into a…
Finance Desk – Yes Bank’s stock climb by 2% on July 9 morning after the bank denied reports claiming 51% stake in the bank might be sold. These reports had suggested that the Reserve Bank of India (RBI) had approved such a sale, which would mark a significant change in the ownership of Yes Bank. The rumors, which appeared in various news outlets had indicated that this potential sale could value Yes Bank, India’s sixth-largest private bank by assets, around $10 billion. This would make it the largest deal in India’s banking sector. However, Yes Bank quickly responded to these…
Meerut : Airtel India has strongly denied claims of a data breach, which alleged that the data of 375 million Airtel India users was put up for sale on the dark web. According to Dark Web Informer on X (formerly Twitter), an unauthentic data hacker named xenZen is allegedly selling data belonging to Airtel India customers. Alleged Data Breach The alleged data breach includes 375 million customer details updated until June 2024. The breach, claimed to have occurred in June 2024, includes data fields such as mobile number, name, date of birth, father’s name, local address, permanent address, alternate number,…
Finance Desk – In Mumbai, a family fraudulently claim over ₹1 crore from four different insurance companies. News reports say that a woman, Kanchan Pai, in collusion with her husband Rohit, son Dhanraj, and a doctor, Ashutosh Yadav, managed to deceive four insurance companies. The police investigation revealed that Kanchan Pai had purchased life insurance policies from Max Life, Bharti AXA, HDFC, and Future Generali under two names—her real name and another. The combined value of these policies amounted to approximately ₹1.1 crore. The family falsely reporting Kanchan’s death after the policies were secured and claimed insurance with a fake…
Finance Desk – The Securities and Exchange Board of India (Sebi) recently announced a significant update for mutual fund investors. Starting April 1, Sebi has mandated that the Consolidated Account Statement (CAS) will be sent primarily through email. The CAS provides details of all transactions across an investor’s mutual fund folios and depository accounts, assuming that the Permanent Account Number (PAN) is the same across the Registrar and Transfer Agents (RTAs) and the depositories like NSDL or CDSL. This shift to email as the default method of dispatching the CAS is part of Sebi’s push towards digitalization. Investors whose email…
Finance Desk – Bajaj Housing Finance Ltd (BHFL) has recently launched ‘Sambhav Home Loans’, marking its entry into the affordable housing market. This is specially designed to cater to first-time homebuyers in the unserved and underserved segments. With an income eligibility starting at just ₹10,000 per month and offering loan amounts starting from ₹10 lakh. This proudct aims to make home ownership more accessible. This move by BHFL provide financial solutions to those who might not typically qualify for conventional home loans due to their income levels. Additionally, BHFL has filed preliminary documents with the Securities and Exchange Board of…
Finance Desk – According to a recent report from the Reserve Bank of India (RBI), personal loan defaults are on the rise, education loans see highest rate of defaults. The RBI’s Financial Stability Report for June 2024 shows that non-performing assets (NPAs) for education-related personal loans at 3.6 percent. While, credit card at 1.8 percent, auto loans at 1.3 percent, and housing loans at 1.1 percent. Experts says that the highest defaults on education loans is because of increasing number of students opting for studies abroad, particularly during peak seasons. Despite these challenges in the education loan segment, the overall…
Finance Desk – ICICI Bank and Axis Bank, have recently updated their fixed deposit (FD) interest rates. These changes attract more depositors by offering competitive rates. ICICI Bank’s New FD Rates ICICI Bank has implemented new rates for its fixed deposits. Now interest rates vary from 3% to 7.20%, depending on the duration of the deposit. For senior citizens ranging from 3.5% to 7.75%. Deposits with a tenure of 15 to 18 months, as well as those from 18 months up to 2 years, get interest rate of 7.20%. For one-year deposits, the rate is 6.7%, while deposits for three…
Understanding the key factors helps borrowers secure favourable loan terms and manage financial commitments effectively. Personal loans have become increasingly popular due to their flexibility and quick accessibility. Whether for funding a vacation, managing unexpected expenses, or consolidating debt, understanding the factors influencing personal loan interest rates is crucial for borrowers seeking the best terms. These factors not only affect the cost of borrowing but also determine the feasibility and affordability of the loan repayment terms. By comprehending these key elements, borrowers can make informed decisions and potentially secure more favourable loan terms tailored to their financial profiles. Bajaj Finance…
Browse through the top selling Bajaj geysers in June 2024. Buy on No Cost EMIs with Bajaj Finserv EMI Network Card for easy payments. Whether you are renovating your bathroom or upgrading your household appliances, a geyser is a practical addition. These versatile models can be installed in bathrooms and kitchens, where hot water can be used to clean utensils, bathe, and scrub floors. One of the leading brands manufacturing state-of-the-art geysers is Bajaj, a name that has become synonymous with quality and trust. Catering to the diverse consumer requirements, Bajaj designs a wide array of water heaters, including gas…
Financial planning can include multiple goals – some that are in the near future, some that are several years away. Each goal may require different investment avenues and approaches. For a short-term goal, low volatility is important so that the invested capital can stay relatively stable. That’s where liquid mutual funds can come in. Such funds can be an attractive option for investors seeking a relatively stable avenue where they can potentially earn better returns than savings accounts. This article tells you more about what liquid funds are and what role they can play in an investment portfolio. What are…
Finance Desk – Federal Bank teamed up with the National Payments Corporation of India (NPCI) to launch an innovative credit card called the RuPay Wave Credit Card. This new card combines the convenience of UPI (Unified Payments Interface) with the established benefits of the RuPay network. Benefits of the RuPay Wave Credit Card: How to Apply for the RuPay Wave Credit Card: If you already have a Federal Bank credit card, use FedMobile app. Log in, select the option to apply for the Wave Credit Card and confirm your application with your MPIN. If you don’t have a Federal Bank…
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)