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Category: Business

  • Public Holiday: All schools, colleges and offices will remain closed from 10 to 14 October! Know the reason

    Public Holidays: The month of October has started. This month is full of festivals and holidays. There have been many holidays since the beginning of the month. Whereas, there will be work for only three days in the next week.

    Not one, not two but five consecutive days of holidays are going to come. If you are planning a holiday then this is a good opportunity for you.

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    Now schools, colleges, banks and government offices are going to remain closed for five consecutive days. These holidays are from October 10 to October 14. In this way, schools and banks will remain closed for five consecutive days. There are many holidays in the second week of this month. Mahasaptami is on Thursday, October 10, Mahanavami is on Friday, October 11, Dussehra and second Saturday is on Saturday, October 12, weekly holiday is on Sunday, October 13 and Durga Puja (Dasin), Gangtok (Sikkim) holiday is on Monday, October 14. In this way, there are five consecutive holidays.

    Holidays in October

    10 October (Thursday): Mahasaptami

    October 11 (Friday): Mahanavami

    October 12 (Saturday): Dussehra and second Saturday

    October 13(Sunday): Weekly Holiday

    October 14 (Monday): Durga Puja (Dashami), Gangtok (Sikkim)

    October 16 (Wednesday): Lakshmi Puja (Agartala, Kolkata)

    October 17 (Thursday): Valmiki Jayanti

    October 20(Sunday): Weekly Holiday

    October 26 (Saturday): Merger Day (J&K) and 4th Saturday

    October 27(Sunday): Weekly Holiday

    October 31 (Thursday): Narak Chaturdashi, Birthday of Sardar Vallabhbhai Patel and Diwali

    How to complete your work when the bank is closed?

    Many times our important work stops during bank holidays. In such a situation, online banking services will continue, which has made people’s work easier. Now you can transfer money from one bank account to another through net banking, mobile banking or UPI while sitting at home. You can also use ATM to withdraw money.

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  • Asiana to increase excess baggage fees on international flights in Jan

    Asiana Airlines

    Asiana to increase excess baggage fees on international flights in JanDANIEL SLIM/AFP/Getty Images

    Asiana Airlines announced on Sunday it will increase fees for excess baggage on its international flights starting January 2, 2025.

    Those fees apply to baggage in excess of the airline’s free allowance.

    Fees for baggage exceeding the quantity limit will go up by as much as 40,000 won ($29.66) depending on routes, Asiana said. For short-haul routes within 90 minutes from Korea, the excess baggage fee will rise from 60,000 won per piece to 90,000 won.

    For flights to Europe, Africa and Oceania, the fee will go from 140,000 won to 180,000 won per piece.

    Every extra piece of baggage on flights to the United States will cost 240,000 won, up from the current 200,000 won.

    Asiana will also raise its excess weight fees, with 23 kilograms being the limit, reports Yonhap news agency.

    Asiana Airlines

    Asiana will combine those weight ranges and charge passengers 60,000 won to 110,000 wonReuters

    On non-U.S. international flights, each piece of baggage weighing between 24 kg and 28 kg requires passengers to pay a fee of 35,000 won to 90,000 won, while pieces weighing between 29 kg and 32 kg cost passengers 50,000 won to 110,000 won.

    Asiana will combine those weight ranges and charge passengers 60,000 won to 110,000 won.

    Asiana, South Korea’s second-largest airline, said this will be its first increase of excess baggage fees since July 2019.

    “Considering the rise in operation costs, among others, this was an inevitable step,” Asiana said. “We will offer a 10 percent discount to passengers who pre-purchase additional baggage allowance.”

    Due to soaring oil prices and other costs, low-cost carriers, such as Jeju Air Co., Air Seoul Inc., Jin Air Co. and Eastar Jet Co., have raised their excess baggage fees this year.

    (With inputs from IANS)

  • Weather Forecast: Heavy rain on 7-8 October, storm alert in more than 10 states – check full details

    IMD issued Alert
    IMD issued Alert

    Weather Forecast: Monsoon has left many states of the country. At the same time, rain continues in many states including Jharkhand, Bihar, Odisha, West Bengal. The Meteorological Department has said that the rain will continue in these states.

    There is enthusiasm for Durga Puja in the whole country. In such a situation, the disturbance of rain is spoiling the fun. Today, i.e. on October 7, the Meteorological Department has predicted rain in many states including Bihar-Jharkhand. The biggest thing is that the process of opening the doors of the pandals has started. In such a situation, if it rains, then all the fun of Durga Puja can be spoiled. Let’s take a look at which states are likely to receive rain today.

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    Heat increased in Delhi.

    With the departure of monsoon, heat has started in the country’s capital Delhi. The maximum temperature in Delhi on Sunday was recorded at 35.7 degrees Celsius. This is two degrees below the average. The Indian Meteorological Department has said that the relative humidity during the day was 72 percent to 52 percent. The Meteorological Department has said that the weather may remain clear on Monday. For today, the Meteorological Department has said that the maximum and minimum temperatures may be 36 and 25 degrees Celsius.

    Rain at many places in Punjab

    The Meteorological Department has said that rain is expected in many districts of Punjab on Monday. On Sunday itself, clouds started gathering in the sky of Punjab. Strong winds blew along with rain in many districts. The Meteorological Department has said that even today there will be strong winds along with rain in many areas. The Meteorological Department has also issued an alert regarding rain in Jalandhar, Chandigarh and some other places.

    The rainy season continues in Bihar (Durga Puja Rain in Bihar)

    The rainy season will continue in Bihar as well. The monsoon has started weakening gradually in the state. Due to this, humid heat has started once again. Meanwhile, the Meteorological Department has said that the rainy season may continue in many districts of the state. The Meteorological Department has said that many districts of the state including the capital Patna may remain cloudy. There is a possibility of rain in Patna, Gopalganj, Siwan, Saran, Nalanda, Jehanabad and other districts.

    Rain in Jharkhand during Durga Puja

    A cyclonic circulation is formed in the Bay of Bengal. Due to which the weather of Jharkhand is changing once again. Late on Sunday night, clouds were seen in the sky of the capital Ranchi with thunder and lightning. The Meteorological Department has predicted that it may rain in Jharkhand today and tomorrow. The Meteorological Department has issued a yellow alert for the state.

    Orange alert issued for three districts of Kerala

    The India Meteorological Department has issued an orange alert for three districts of Kerala and predicted very heavy rains there. According to the latest update from IMD, heavy rains are expected in scattered areas of Idukki, Malappuram and Wayanad districts. In view of the possible heavy rains, the administration of Wayanad district has instructed people living in landslide prone areas to be extra cautious.

    How will the weather be across the country today (Weather Updates Today)

    According to Skymet Weather, light to moderate rain may occur in Tamil Nadu, Kerala, South Interior Karnataka, Coastal Karnataka, Sub-Himalayan West Bengal and parts of Northeast India today. Heavy rain is possible at some places. Light to moderate rain may occur in Andaman and Nicobar Islands, Northeast India, West Bengal, Bihar, East Uttar Pradesh, Telangana, Konkan and Goa, Madhya Maharashtra, North Interior Karnataka and Lakshadweep. Light rain is possible in Western Himalayas, Odisha, Chhattisgarh and Jharkhand.

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  • RBI likely to maintain status quo as MPC meet begins, realty sector hopeful on repo rate

    RBI likely to maintain status quo as MPC meet begins, realty sector hopeful on repo rate

    IANS

    The Reserve Bank of India (RBI) is likely to maintain the status quo in its Monetary Policy Committee (MPC) meeting, said industry experts on Monday, as the muchanticipated three-day meeting began, led by Governor Shaktikanta Das, amid geo-political uncertainties.

    The six-member committee began deliberations on interest rates and analysing the state of the economy amid tensions in the Middle East. The RBI Governor will announce the MPC decision on October 9.

    Shishir Baijal, Chairman and Managing Director, Knight Frank India, said that growing geopolitical concerns, particularly in the Middle East, add to inflationary concerns that can emerge from its impact on crude prices.

    “Despite elevated interest rates, India’s economic growth has remained resilient, with consumption indicators such as home sales maintaining robust momentum. This sustained growth provides adequate cushioning for the RBI to keep the repo rate at the existing level of 6.5 per cent,” Baijal added.

    Additionally, the imbalance between credit and deposit growth, where credit growth has outpaced deposit growth, may prompt the RBI to keep policy rates tightened, keeping it unchanged for an extended period, said experts.

    Reserve Bank of India (RBI)

    IANS

    For the real estate market, a cut in the repo rate would result in lower interest rates on home loans, which makes EMIs more manageable for borrowers.

    According to Anuj Puri, Chairman, Anarock Group, the housing market is especially sensitive to changes in acquisition cost since in India, most home buyers use home loans.

    “Of course, interest rates are not the sole factor to influence purchase decisions as property rates also play a big role. More attractive interest rates can help improve overall affordability, and this can help catalyse housing sales during the festive season. Improved sales also benefit developers as better sales improve their cash flows and reduce their borrowing expenses for projects,” said Puri.

    While the recent US Fed cut would have prompted the RBI to follow suit, the fact is that the global economy is facing considerable uncertainty because of the ongoing geopolitical tensions.

    Experts said that it is a tightrope walk for the RBI and it is, therefore, possible that it will hold on to the current repo rate for now, until these pressures ease.

    (With inputs from IANS)

  • Stock Markets Today: Sensex trades higher amid positive global cues

    IPO market buzz continues next week with 3 new public issues

    Sensex trades higher amid positive global cuesIANS

    Indian equity indices opened in the green on Monday following global cues from the US and Asian markets.

    At 9.51 a.m., Sensex was up 193 points or 0.24 per cent at 81,882 and Nifty was up 36 points or 0.15 per cent at 25,051.

    However, the market trend remained negative. On the National Stock Exchange (NSE) 1,737 shares were in the red and 658 shares in the green.

    In the Sensex pack, ITC, Kotak Mahindra Bank, HCL Tech, ICICI Bank, Bharti Airtel, Wipro, Tata Motors, UltraTech Cement, Nestle, Bajaj Finance, TCS, Infosys, Axis Bank and SBI were the top gainers. Titan, HDFC Bank, NTPC, Maruti Suzuki, Power Grid, HUL, Sun Pharma, L&T and Asian Paints were the top losers.

    Hardik Matalia, Derivative analyst of Choice Broking said after a positive opening, Nifty can find support at 25,000 followed by 24,900 and 24,750. On the higher side, 25,150 can be an immediate resistance, followed by 25,250 and 25,300.

    Selling was seen in the midcap and smallcap stocks. The Nifty midcap 100 index slipped 113 points, or 0.19 per cent, to 58,374 and the Nifty smallcap 100 index slipped 60 points, or 0.32 per cent, to 18,702.

    market bull

    Asian markets are trading with gainsIANS

    Most Asian markets are trading with gains. Tokyo, Hong Kong, Bangkok, Seoul and Jakarta were major gainers. The US markets closed with gains on Friday.

    According to the market experts, “Globally stock markets have been resilient despite the escalating tensions in the Middle East. A big positive for equity markets is the strong US economy where the September non-farm job numbers have come surprisingly robust at 2.54 lakhs. The combination of a strong economy and declining inflation in the mother market of the US is a big positive.”

    The foreign institutional investors (FIIs) sold equities worth Rs 9,896.95 crore on October 4, while domestic institutional investors purchased equities worth Rs 8,905 crore on the same day.

    (With inputs from IANS)

     

  • Petrol Diesel Price Today: New prices of petrol and diesel released, check the rates quickly before filling the tank

    New prices of petrol and diesel released
    New prices of petrol and diesel released

    Petrol Diesel Price Today: Oil companies have released new prices of petrol and diesel today, on 7 October. Different changes in prices are being seen in different parts of the country.

    Petrol and diesel prices have increased in many cities and decreased in many. At the same time, there has been no change in the rates of petrol and diesel in some cities.

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    Before filling fuel in your vehicle, you must check the price of your city. Let us tell you what is the latest rate of petrol and diesel in the major cities of the country…

    Petrol-Diesel Price in major cities of the country

    The price of petrol in Delhi is Rs 94.72 and diesel is Rs 87.62 per liter.
    The price of petrol in Mumbai is Rs 103.44 and diesel is Rs 89.97 per liter.
    In Kolkata, the price of petrol is Rs 104.95 and diesel is Rs 91.76 per liter.
    The price of petrol in Chennai is Rs 100.75 and diesel is Rs 92.34 per liter.

    Where is petrol and diesel expensive, where is it cheap?

    Today, petrol and diesel prices have decreased in Goa, Haryana, Himachal, Kerala, Maharashtra, Odisha, Puducherry, Telangana and Tripura, while petrol and diesel have become expensive in Gujarat, Jharkhand, Karnataka, Tamil Nadu, UP and West Bengal.

    Do you want to know what is the latest rate of petrol and diesel in your city today? Then for this you do not need to go to the petrol pump. You can easily find out the price of petrol and diesel sitting at home.

    Know the price of petrol and diesel through SMS

    You can know the rates of petrol and diesel (Petrol and Diesel Rate Today in India) through SMS while sitting at home. For this, if you are a customer of Indian Oil, then write the city code along with RSP and send it to 9224992249. If you are a customer of BPCL, then you can know the latest prices of petrol and diesel by writing RSP and sending it to 9223112222. Whereas, if you are a customer of HPCL, then you can know the prices of petrol and diesel by writing HP Price and sending it to 9222201122.

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  • NCC Cadets Shine At The Cm’s Sports Cup Inaugural Event Held In Hyderabad

    NCC Cadets Shine At The Cm's Sports Cup Inaugural Event Held In HyderabadIndia, Hyderabad, 07th October 2024: The Chief Minister’s sports cup inaugural event 2024 was held at LB stadium on 03 Oct 24 and was attended by dignitaries from politics, bureaucracy and military as well as approx five thousand other audience. Distinguished military officers from NCC including Air Cmde VM Reddy, DDG, Col Sameer Sharma, Director, Col Sachin Nimbalkar, KC, Col Anil, Col Venkatesh, Lt Col Sarath and Maj Ankit renowed for their exemplary service and leadership in the armed forces attended the event and inspired the youth. Approx 150 cadets from NCC also attended the event and stole the limelight with stellar performances. The CM was welcomed and escorted to the podium by the NCC cadet band which performed mesmerizingly and captivated the audience.

    The band’s performance was exceptional, blending precision with elegance. Their rhythmic coordination and disciplined execution added a ceremonial grandeur, enhancing the event’s significance and leaving a lasting impression.

    The group song “Ek Surili Aasha He” was melodiously sung by a group of 17 NCC cadets which got the entire stadium on its feet and the entire audience joined in and applauded the performance. The group dance performed next was even better. The performers displayed incredible grace and passion leaving the audience mesmerized with their Kuchipudi performance on Krishna Leela. The artistry of the group song and group dance brought vibrance and unity in the event making it a memorable celebration of talent and cultural celebration.

    The Chief Minister expressed deep admiration for the cadets’ outstanding all-India performance in the AITSC 2024, commending their dedication, discipline, and competitive spirit. Recognizing their excellence in various fields, the Chief Minister praised their commitment to upholding the nation’s values and setting a high standard for others. The presentation of award by the CM to Air Cmde VM Reddy, DDG, Col Sameer Sharma, Dir and the NCC cadets part of AITSC 2024 was a proud moment, with the Chief Minister congratulating the DDG and the NCC cadets, reinforcing the importance of NCC in making of future leaders of the country. The event highlighted the government’s unwavering support for the nation’s youth.

    The Chief Minister’s speech highlighted the tremendous opportunities available to young cadets, not only in terms of professional growth but also in fostering leadership, discipline, and patriotism. He also motivated the young citizens in the audience to be part of NCC and even harped upon its benefits in personal as well as professional lives.

    Air Cmde VM Reddy, DDG, NCC Dte, AP & T also interacted with Nikhat Zareen (The Boxing Champ) and motivated the dynamic lady and many other young boys and girls in the crowd to do well in sports.

    Overall, the event instilled a sense of duty and pride among cadets, fostering a greater interest in serving the country. It was a commendable effort towards building a stronger, more disciplined, and patriotic future generation.


    Rekha Nair

  • Secure Attractive Interest Rates on Gold Loan with Bajaj Finance

    7th Oct 2024  Pune, Maharashtra, India Gold has always been a haven both for investors and borrowers. Even in recent times, gold loans become increasingly popular for those seeking quick financial assistance. They allow borrowers to leverage their gold jewellery to secure funds without the need for extensive complicated documentation or a perfect credit score. Moreover, gold loan interest rates are generally lower than unsecured loans, making them a cost-effective borrowing option. Understanding the various benefits of a gold loan is essential if an individual is planning on availing one. This can significantly improve one’s overall borrowing experience.

    All about the gold loan

    A gold loan is a secured loan where individuals can pledge their 18-22 karat gold jewellery as collateral to obtain funds. This type of loan offers numerous benefits, including:

    Quick processing

    Gold loans are typically processed much faster than traditional loans, with many lenders offering instant approvals. This rapid turnaround can be a lifesaver for those facing unexpected expenses.

    Higher loan amounts

    Borrowers can receive loans based on the value of the gold pledged, often up to 75% of its market value. This flexibility allows individuals to secure the exact amount they need without overcommitting.

    No need for perfect credit score

    Since gold acts as collateral, lenders are more lenient regarding the borrower’s credit history. This makes gold loans an attractive option for those who may struggle to secure other types of financing due to a lower CIBIL score.

    Reasons to choose Bajaj Finserv Gold Loan

    There are multiple lenders in the market that one can choose from. However, here are some reasons that make Bajaj Finance a preferable choice for many borrowers:

    Quick loan processing

    Bajaj Finance processes gold loans quickly, allowing borrowers to get the funds they need without delays. This is particularly helpful when funding immediate expenses, such as medical bills or urgent repairs.

    Minimal documentation

    Borrowers can secure a substantial loan amount by submitting their basic KYC documents like Aadhaar card, Voter ID, driving licence, passport, letter from NPR or NREGA job card.

    High loan amount

    One can get a loan starting from ₹5,000 to ₹2 crore, depending on the value of the gold pledged, gold loan interest rate, and the borrower’s liquidity requirements. This makes it possible for individuals to meet their financial needs, whether big or small.

    Convenient repayment options

    With multiple repayment plans, borrowers can choose a schedule that suits their financial situation, making it easier to manage repayments. This flexibility ensures that borrowers can stay on top of their finances without feeling overwhelmed.

    Zero part-prepayment fee

    Bajaj Finance does not levy any part-prepayment fees, allowing borrowers to save on unnecessary administrative costs when they clear their loans early. This feature is especially beneficial for those who might receive windfalls or bonuses and wish to reduce their debt.

    Complimentary insurance on gold assets

    When opting for a loan with Bajaj Finance, pledging gold is insured for free, providing added peace of mind. This safeguard ensures that borrowers do not have to worry about the security of their valuable assets while they are being used as collateral.

    Steps to apply for a Bajaj Finserv Gold Loan

    Applying for a gold loan with Bajaj Finance is pretty simple. Here’s how one can apply:

    1. Visit the Bajaj Finserv Gold Loan website and click on ‘Apply’ to access the application form.
    2. Enter the 10-digit mobile number and select ‘Get OTP.’
    3. Enter the OTP to verify identity.
    4. Choose the state and city to locate the nearest Bajaj Finance branch.
    5. Provide personal details like name and date of birth as per the PAN.
    6. Schedule an appointment at the Bajaj Finance branch.
    7. After completing these steps, a Bajaj Finance representative will call to confirm the appointment and guide the borrower through the next steps.

    Conclusion

    A gold loan is a smart way of leveraging one’s idle gold jewellery for liquid funds. This is especially useful in times of emergencies. And with trusted lenders like Bajaj Finance, borrowers can now get access to funds at competitive interest rates at very convenient terms. With a faster turnaround time and online application system, anyone can apply for a loan at any time of the day!


    Mansi Praharaj

  • Big decision of the central government, minors will be able to drive e-scooters with a maximum speed of 25 km

    The central government has decided to implement new rules keeping in mind the issue of juvenile driving i.e. minor children driving vehicles. From now on, the maximum speed limit of such vehicles has been fixed at 25 kilometers per hour.

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    The Ministry of Road Transport and Highways is making major changes in the Motor Vehicles Act. The ministry has also decided to set the engine capacity of the vehicle for minors at 50 cc and the motor power at a maximum of 1,500 watts.

    The ministry has proposed 67 amendments in the existing law, on which people can give suggestions till October 15. The bill related to these amendments can be introduced in the winter session of Parliament.

    According to the proposal, teenagers who have completed 16 years of age will be allowed to drive purely electric two-wheelers in public places, provided they follow the prescribed speed limit and engine power limit.

    No person below the age of 18 will be allowed to drive any other vehicle. Apart from this, the ministry has also proposed that persons below the age of 18 will not be issued a learner’s license for vehicles with automatic gear. Through these rules, the government is trying to increase safety on the road and prevent accidents caused by juvenile driving.

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  • CARE Improved IDFC First Bank Ratings

    7th Oct 2024  Mumbai, Maharashtra, India  IDFC First Bank declared to exchange that Under Regulation 30 of the SEBI Listing Regulations, we wish to inform you that CARE Ratings Limited (“CARE”) has re-affirmed the existing rating of the Bank’s long-term debt instruments amounting to Rs. 1,307.38 crore at ‘CARE AA+ / Stable.

    Reaffirmation of the rating assigned to the long-term debt instruments of IDFC First Bank Limited (IDFC First) factors in comfortable capitalization levels supported by periodic capital infusion with the latest rounds of equity of Rs. 3,000 crore in October 2023 and Rs. 3,200 crore in July 2024 to fund its asset growth. The rating also continues to factor in the improvement in the bank’s scale of operations and diversification and granularization of the advances book with a shift towards retail lending and gradual reduction in legacy infrastructure lending and growth of liabilities franchise with an increase in the proportion of retail customer deposits and comfortable current account savings account (CASA) deposits. Cost of funds of the bank is relatively moderate due to the higher cost of deposits as compared to larger private banks and high-cost legacy borrowings in its funding profile, the majority of which will be matured by FY26 and will be eventually replaced by deposits increasing the overall liability book’s deposit proportion, bringing down its cost of funds and improving the credit to deposit ratio which stands at 98% as on June 30, 2024.

    However, these rating strengths are partially offset by relatively moderate profitability driven by a high cost-to-income ratio as the bank continues the expansion of retail book, investment in technology, branch expansion and people, although this is on a decreasing trend with an increase in revenue. Return ratios are expected to improve gradually as the bank attains scale leading to improvement in the cost-to-income ratio. Furthermore, the rating is also constrained considering challenges in asset quality of its legacy infrastructure advances which has reduced significantly to 1% of advances over some time and the recent stress witnessed primarily in the micro-finance segment. The bank’s ability to control asset quality and credit cost remains monitorable.


    Mansi Praharaj