A rare bonhomie among three private telecom companies in raising tariffs coming on the back of a bailout package by the government may have helped the telecom sector avert a crisis but the challenges haven't ceased to exist as the industry faces a cash-guzzling task of rolling out 5G networks in the coming months. The sector that provides direct and indirect employment to millions is projected to see Rs 1.3 lakh crore to Rs 2.3 lakh crore of investments in the coming years in creating robust infrastructure and building telecom and network products that have been incentivised by the government through PLI and other initiatives. After years of cut-throat competition and the apex court ruling on payment of past statutory dues left some players in the lurch, billionaire Sunil Mittal's Bharti Airtel and struggling Vodafone Idea almost in tandem raised tariffs, taking the plunge they had long been talking about.
With banks taking the cue from RBI to hike rates, home buyers will have to take serious measures to keep their finances under control.
Your high expectations and attachment to certain property can make you buy property which is not financially suitable.
Every financial plan needs to be tweaked periodically.
Finance Minister Nirmala Sitharaman on Friday announced a slew of measures to boost economic growth and address distress in various sectors
Ekta Kapoor's gangster drama Once Upon A Time In Mumbaai completes its 10 years on July 30.
HDFC Bank on Monday said it aims to regain the two per cent market share in the credit card market it ceded to rivals during a recent ban, within a year by aggressively tapping into its existing depositor base. The bank will also focus on forging new partnerships to sell more cards and will not deviate from its conservative approach on taking credit risks as it goes aggressive in the market, its group head for payments and consumer finance, digital banking and IT, Parag Rao, told reporters. On August 17, RBI lifted the ban on HDFC Bank which had prevented it from issuing new credit cards from December 2020.
Paying your increasing home loan EMIs can be quite a task to meet. Here are a few dos and don'ts that can help you sort out your loan problem.
Most buyers are forced to back off in the face of delays because of the appreciation of the property.
"Any payment above EMIs is considered as payments towards the principal and would result in shorter tenure. This, in turn, will lower the total interest amount you pay on your home loan."
'People can start making a safety net, and that safety net should be at least three months of your monthly salary.' 'If somebody is earning Rs 25,000 then s/he should have at least Rs 75,000 in her/his bank account, so that if anything like this (lockdowns) happens in the future, they are not struggling.'
An equated monthly installment (EMI) is the amount of money that is paid back to the lender on a monthly basis.
India's manufacturing expanded at a faster pace than China
Sell the property if bought for investment purpose.
While there is easy access to money, the flip side is the high interest rate and processing fees, points out Sarbajeet K Sen.
When interest rates rise, so does the EMI of your home loan. There are two ways in which you can deploy surplus funds to reduce the EMI. For maximum benefit, you can combine the two options.
A fall in home loan rates since last September as well as a few provisions in the Union Budget 2016-17 are working in favour of the home buyers, says Rajiv Raj
Once the new rules kick in, you will have less cash-in-hand and may feel tempted to scale back on savings and investments.
HSBC India has announced a new home loan package offering to pay back part of the interest to borrowers. Yes, like the foreign bank claims, it is a first in the home loans business. But if one takes a careful look, it might not be such a big deal after all.
'When the country is jobless, why should I pay through my nose to feed these people who want some perks in office?' 'Let them also join India's unemployed.' 'Let them also taste the bitter medicine of being jobless.'
If banks won't lend, seek a loan from fintech lenders or P2P platforms to help you get out of a debt trap.
Since, most banks are unlikely to approve the amount, you could be sanctioned the desired loan on a higher tenure of may be 22 or 25 years. This would result in a lower instalment, which would not strain you monthly outgo.
Rashmi Bansal Returns to Rediff.com! The author of bestsellers like Stay Hungry Stay Foolish and Connect the Dots explains why MBAs should be looked upon as long-term investments.
A peek outside your airplane window as you land in any Indian metropolis is confirmation of the fact that 26 per cent of Mumbai and an astounding 60 per cent of New Delhi lives in slums or substandard housing.
In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
It's important you keep the following points in mind as you set out to have your name plate on the wall.
If you decide to go for a step-up loan, select fixed rate option instead of floating rate option, as it will let you control your EMIs. Besides avoid over-borrowing on this kind of a loan, to prevent financial problems later on.
Those just starting their careers should avoid adding to their liabilities, especially if they already have an education loan. They should think hard before taking a car or home loan.
Rediff reader Murali Krishnan Ambati, 47, from Bengaluru shares an interesting formula to save money.
'Initially, I was reluctant about being friends with him.' 'He was a star.' 'It took me a while to understand him, and when I did, I opened up to him and we started talking about this and that and whatnot.'
'Your faith in the system, and in the fact that you are a citizen of this country and have rights, starts eroding.'
'This is a blip in the 100-year history of cinema.'
While planning for retirement, the key is to let your money be idle, says Amar Pandit.
Twenty-six immovable properties worth Rs 101.45 crore, and bank balance totalling Rs 2.28 crore in 22 accounts have been attached provisionally under the Prevention of Money Laundering Act (PMLA) by the Lucknow zonal office of the agency, they said. The Greater Noida-headquartered Bike Bot taxi service is accused of scamming about Rs 3,000-Rs 4,000 crore from 2.25 lakh investors in multiple states including Uttar Pradesh, Madhya Pradesh, Rajasthan and Haryana.
Given that there are hundreds of players in the shadow banking space, it's hard to make a credible estimate of potential NPAs. That creates more scope for panic, says Devangshu Datta.
A 43-year-old woman's SOS to UK Prime Minister Boris Johnson made the Indian embassy in London, the ministry of external affairs in New Delhi and the Delhi police swing into action and prevent her from killing herself.
Those who have been handed the pink slip shouldn't make too many loan queries, advises Raj Khosla.
