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  • SBI Interest Rate: SBI changed the interest rate rules from December 15, check details

    SBI Interest Rate: The country’s largest public sector bank, State Bank of India, has changed its Basic Landing Rates (MCLR). The interest rates will be applicable from December 15.

    The bank issued a notification and informed about the new interest rates. Let us tell you that the change in MCLR rates by the bank will affect the EMI of your home loan, car loan, personal loan. Let us tell you that the bank’s MCLR is the minimum rate at which the bank fixes its loan rates. Changes in this change the EMI.

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    SBI new interest rates

    SBI has announced the new rates of Marginal Cost of Lending Rate (MCLR). The new rates will be applicable from 15 December 2024 to 15 January 2025. If we look at the new rates, the bank has kept it as it is. According to the official website of State Bank of India (SBI), the overnight MCLR is 8.2 percent. At the same time, the interest rate for 1 month is 8.2 percent. The rate for 3 months is 8.55 percent. The rate for 6 months is 8.90 percent and the rate for 1 year is 9.00 percent. Apart from these, the rate for 2 years is 9 percent. The interest rate for 3 years is 9.1 percent. Let us tell you that 42 percent of the bank’s loan is linked to MCLR.

    What will be the effect on EMI

    MCLR is the minimum rate of banks below which no bank disburses loans. That is, the more the MCLR increases, the more the interest on the loan will increase. That is, your EMI will also increase. Due to increase in MCLR rates, the EMI of the loan takers increases on the reset date, however, SBI has given a big relief to its customers by not increasing the interest rates.

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  • Edtech unicorn upGrad clocks Rs 560 crore loss in FY24

    GST officials search UpGrad offices, edtech unicorn says 'routine survey'

    GST officials search UpGrad offices, edtech unicorn says ‘routine survey’IANS

    Online skills and learning platform upGrad has recorded a loss of Rs 560 crore in FY24, a decrease from a Rs 1,142 crore loss in FY23.

    In the last fiscal, the company’s EBITDA (including one-time cost) loss stood at Rs 285 crore against Rs 558 crore in FY23.

    The total income of the higher education and upskilling company grew 30 per cent year-on-year (YoY) basis to Rs 1,547 crore in FY24. It was Rs 1,194 crore in FY23.

    upGrad spent Rs 340 crore on marketing and advertising in FY24 as against Rs 387 crore in FY23.

    Further, the company’s spend on content delivery has come down from Rs 240 crore in FY23 to Rs 226 crore in FY24. The edtech company spent Rs 77 crore on product and technology in FY24, against Rs 40 crore in FY23.

    Ronnie Screwvala | Co-Founder, upGrad

    Ronnie Screwvala | Co-Founder, upGradIANS

    In FY24, the company’s enterprise business grew by nearly 50 per cent compared to FY23, with key partners across industries including GCC, automobile, ITES, BFSI, manufacturing and services.

    Last month, Singapore sovereign wealth fund Temasek invested an additional $60 million in Upgrad at a valuation of $2.25 billion. Temasek holds about a 20.5 per cent stake in the company. The company has raised $320 million in funding since inception.

    The company was founded in 2015 and offers online and hybrid skill, certification and boot camp programmes. Upgrad’s Co-founder and Chairperson, Ronnie Screwvala and his family hold a 45 per cent shareholding in the company.

    upGrad recently announced that it created 55,000 jobs in FY24. Hiring was majorly seen in marketing, data, and tech domains and about 50 per cent were placed in Mumbai, New Delhi, Bengaluru, and Chennai. In FY24, upGrad’s Enterprise arm also upskilled and trained nearly 600,000 corporate professionals.

    (With inputs from IANS)

  • Mortgage finance AUM in India projected to grow 16-17 pc in FY25 and FY26

    Mortgage finance AUM in India projected to grow 16-17 pc in FY25 and FY26

    Mortgage finance AUM in India projected to grow 16-17 pc in FY25 and FY26IANS

    The assets under management (AUM) of mortgage finance loans in the country is expected to grow at a healthy 16-17 per cent this fiscal and the next (FY25 and FY26), a report said on Monday.

    Trends in the sub-segments like home loans, loans against property (LAP), and wholesale loans will vary. Over the current and next fiscals, home loans should grow at a reasonable pace of 13-14 per cent, according to the Crisil Ratings report.

    Home loan growth is supported by structural factors such as rising urbanisation, better affordability on account of limited housing price increases in recent years, and expected cuts in interest rates.

    LAP growth is expected to normalise to 23-24 per cent from the fiscal 2024 high of 37 per cent. Wholesale loans, which were declining over the last 5 years, will see a moderate expansion of 6-7 per cent over the current and next fiscals, the report added.

    In terms of the AUM mix, home loans continue to form the majority of the AUM at 60 per cent, LAP forms 30 per cent, and wholesale loans the remaining 10 per cent.

    Housing finance companies (HFCs) constitute 80 per cent of overall mortgage finance and 95 per cent of total home loans.

    “Many HFCs have managed to meet the PBC requirement, despite the high growth in LAP, through subsequent sell-down of their portfolios. Even then, almost half of the 25 HFCs analysed operate with a narrow cushion of sub-5 per cent,” CRISIL Ratings Director, Subha Sri Narayanan, said.

    Pradhan Mantri Awas Yojana (PMAY) scheme has provided affordable housing to low-income families in India

    Housing finance companies (HFCs) constitute 80 per cent of overall mortgage finance and 95 per cent of total home loansIANS

    Policy initiatives, such as the reintroduction of the interest subsidy scheme, albeit in a different form from that seen in the past, should support growth in affordable housing finance.

    Meanwhile, with larger prime-focused HFCs turning to the affordable housing finance segment, this space continues to get more competitive, the report said.

    Nevertheless, LAP will remain the fastest-growing mortgage financing segment for HFCs and non-banking finance companies (NBFCs) for a couple of reasons.

    “One, this is a product which caters to micro, small and medium enterprises (MSMEs) and as economic activity remains healthy, so does credit demand in this segment. Two, lenders have greater comfort with this segment given better availability of information on MSMEs with increasing formalisation of the economy and rising number of data sources, thereby supporting more rigorous credit underwriting,” said the report.

    (With inputs from IANS)

  • Has your Driving Licence expired? Know the easy way to renew it online

    New Driving License

    If your driving license is going to expire soon, then you should know about some things. Within how many days of expiry of the driving license, it has to be renewed, how much fees (Driving license renewal fees) are charged while renewing, what documents are required for this etc. Along with this, you should also know the process of getting the driving license renewed online (Apply for DL ​​Renewal).

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    How many days are available for renewing DL?

    Let us tell you that even after the driving license expires, it remains valid for 1 month. That is, you get 30 days to renew your DL. If you renew it after 30 days, you will have to pay a fine. Remember, if you do not renew your driving license for a year, your license gets cancelled. That is, you will have to follow the same process again, which you followed while getting the license.

    DL renewal fee

    If you renew your driving license within 30 days of its expiry, then you have to pay a fee of Rs 400. But, if you renew your driving license after the expiry date, then you will have to pay Rs 1500.

    After how many years does it have to be renewed?

    Under the Motor Vehicle Act, driving license is issued to everyone in India till the age of 40 years. After this it has to be renewed. Keep in mind that the driving license issued after the age of 40 has a validity of 10 years, and after that the driving license has to be renewed every 5 years.

    In India, the driving license is issued by the RTO office. The driving license has a validity period, after which it has to be renewed. If your driving license has been cancelled due to expiry many years ago, then let’s know what to do next.

    You will have to apply for DL ​​again in this way

    If it has been 4 years since your driving license expired, then you will have to go through the same process once again that you went through while getting the license. For this, you will have to follow the steps given below.

    • Step 1 – First of all you go to the website
    • Step 2 – After this you will have to select your state.
    • Step 3 – Then from the ‘Driving License’ option, click on ‘Services on Drivers License’.
    • Step 4 – After this you will have to fill the application form.
    • Step 5 – After filling the form, click on ‘Next’.

    After completing all these steps, you will have to pay a fee for this. For which you will also get a slip. Then on the date you have taken, you will have to go to the RTO office with your original documents and the fee acknowledgement slip. It has been 4 years since your license expired, so you will first be issued a learning license for the driving license. And to get a driver’s license, you may also have to give your driving test.


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  • Open networks can create economic impact of Rs 67K cr annually in India’s mobility sector: ONDC

    Open networks can create economic impact of Rs 67K cr annually in India's mobility sector: ONDC

    Open networks can create economic impact of Rs 67K cr annually in India’s mobility sector: ONDCIANS

    Open Networks can generate an annual economic impact of up to Rs 67,000 crore in India’s mobility sector, driving inclusive growth and strengthening local economies, according to a whitepaper, released by the government-run Open Network for Digital Commerce (ONDC) on Monday.

    The whitepaper explores how innovative business models on open networks can transform India’s mobility sector. It offers insights into how open networks and new business models can redefine India’s urban mobility landscape while driving economic growth, boosting driver incomes, and fostering inclusive development.

    It also highlights the challenges with traditional aggregator-driven models, where platform commissions impact driver incomes and reduce their capacity to contribute to local economies.

    The open network model such as Zero Commission in the Mobility sector approach offers a compelling alternative, empowering drivers to retain 100 per cent of their earnings.

    Improvement in employment rates and record foreign exchange reserves have further strengthened India's economic position

    Open network model such as Zero Commission in the Mobility sector approach offers a compelling alternativeIANS

    This model could increase driver incomes by Rs 1.36 lakh annually — approximately 30 per cent higher than current levels. This could also add up to Rs 20,475 crores annually for 15 lakh drivers across India.

    “The ripple effects of this additional income are substantial. Drivers’ households are expected to spend more on better housing, education, healthcare, and nutritious food,” ONDC said.

    “This increased spending could stimulate local businesses and generate between Rs 51,000 crores to Rs 67,000 crores annually in additional economic activity, driving inclusive growth and strengthening local economies,” it added.

    The paper also underscores the importance of evolving policy frameworks with new models emerging with open networks.

    This includes “issuing clarifications for GST that can potentially enhance net tax revenues for the government, with estimates ranging from Rs 54.5 crore to Rs 1,152 crore annually, while promoting broad-based economic growth, fairness, and inclusivity across the ecosystem”, ONDC said.

    The whitepaper also shared how digitisation can play a crucial role in this transition, offering transparency, accountability, and additional benefits for both drivers and passengers. It underscores how open networks can help reduce compliance burdens, encourage digital adoption, and ensure a fair and inclusive approach that benefits all stakeholders. ONDC is a network of more than 200 apps, including buyer apps and seller apps.

    (With inputs from IANS)

  • GlobalLogic and Nokia Join Forces to Accelerate Innovation in 5G Enterprise Solutions through Advanced Network API Use Cases The agreement further expands the API ecosystem that Nokia is building with operators, systems integrators, software developers, and hyperscalers to harness network capabilities and monetize network assets. GlobalLogic will leverage Nokia’s Network as Code platform to build new applications for enterprises like automotive, industrial, and finance verticals. New Delhi, India – December 16, 2024 – GlobalLogic Inc., a Hitachi Group Company and a leader in digital engineering, today announced that it is partnering with Nokia to accelerate the adoption of advanced 5G and 4G enterprise solutions. Through Nokia’s Network as Code platform and developer portal, GlobalLogic will drive innovation across key enterprise verticals, with an initial focus on the automotive, industrial and financial sectors, creating transformative use cases that deliver measurable business value. By leveraging Nokia’s Network as Code platform, GlobalLogic’s team of software developers can seamlessly tap into advanced network capabilities, enabling the creation of new, network-aware applications that function across diverse network architectures. This platform empowers developers with Software Development Kits (SDKs) and comprehensive Network API documentation, providing the technical tools needed to innovate quickly and efficiently. GlobalLogic will focus initially on use cases designed to enhance operational efficiency, fraud management, customer experience and unlock new revenue streams. Leveraging 5G-powered Network APIs, industrial and automotive companies can transform worker safety, operational efficiency, and help achieve sustainability targets. Connected devices, such as smart helmets and wearables, can utilize network functions to track real-time worker locations and integrate IoT data, including health metrics and environmental factors like gas levels or temperature, triggering real-time alerts to prevent safety hazards. AI enabled predictive maintenance and digital twins ensure safe, efficient operations by identifying faults early, while XR/VR solutions enable remote plant maintenance and immersive training, reducing travel and emissions. In the financial industry, integrating API-driven network insights, device authentication and AI empowers real-time fraud prevention, secures financial transactions, and delivers personalized value-added services, elevating customer trust and experience. “The Network as Code platform fosters a unified ecosystem by bringing together telco networks, systems integrators, and developers worldwide,” said Ashay Punekar, Vice President Communications & Network Providers Business Unit at GlobalLogic. “Through this partnership, we are positioned to not only accelerate 5G innovation, but also redefine the way enterprises interact with and benefit from network technologies, helping communication service providers to monetize their 5G investments”, added Sameer Tikoo, Group Vice President & General Manager, Communications & Network Providers Business Unit at GlobalLogic. “With our Network as Code platform, GlobalLogic will benefit from having choice, flexibility, and extreme automation to fit its business model and create new value in connecting to ecosystems of applications and services. Leveraging its digital engineering expertise, GlobalLogic is well-positioned to harness this innovation for seamless integration and enhanced connectivity. As a B2B technology innovation leader, Nokia is driving the next evolution of networking to enable people, machines, and devices to interact in real-time like never before”, said Shkumbin Hamiti, Head of Network Monetization Platform, Cloud and Network Services at Nokia. – CRN

    GlobalLogic and Nokia Join Forces to Accelerate Innovation in 5G Enterprise Solutions through Advanced Network API Use Cases The agreement further expands the API ecosystem that Nokia is building with operators, systems integrators, software developers, and hyperscalers to harness network capabilities and monetize network assets. GlobalLogic will leverage Nokia’s Network as Code platform to build new applications for enterprises like automotive, industrial, and finance verticals. New Delhi, India – December 16, 2024 – GlobalLogic Inc., a Hitachi Group Company and a leader in digital engineering, today announced that it is partnering with Nokia to accelerate the adoption of advanced 5G and 4G enterprise solutions. Through Nokia’s Network as Code platform and developer portal, GlobalLogic will drive innovation across key enterprise verticals, with an initial focus on the automotive, industrial and financial sectors, creating transformative use cases that deliver measurable business value. By leveraging Nokia’s Network as Code platform, GlobalLogic’s team of software developers can seamlessly tap into advanced network capabilities, enabling the creation of new, network-aware applications that function across diverse network architectures. This platform empowers developers with Software Development Kits (SDKs) and comprehensive Network API documentation, providing the technical tools needed to innovate quickly and efficiently. GlobalLogic will focus initially on use cases designed to enhance operational efficiency, fraud management, customer experience and unlock new revenue streams. Leveraging 5G-powered Network APIs, industrial and automotive companies can transform worker safety, operational efficiency, and help achieve sustainability targets. Connected devices, such as smart helmets and wearables, can utilize network functions to track real-time worker locations and integrate IoT data, including health metrics and environmental factors like gas levels or temperature, triggering real-time alerts to prevent safety hazards. AI enabled predictive maintenance and digital twins ensure safe, efficient operations by identifying faults early, while XR/VR solutions enable remote plant maintenance and immersive training, reducing travel and emissions. In the financial industry, integrating API-driven network insights, device authentication and AI empowers real-time fraud prevention, secures financial transactions, and delivers personalized value-added services, elevating customer trust and experience. “The Network as Code platform fosters a unified ecosystem by bringing together telco networks, systems integrators, and developers worldwide,” said Ashay Punekar, Vice President Communications & Network Providers Business Unit at GlobalLogic. “Through this partnership, we are positioned to not only accelerate 5G innovation, but also redefine the way enterprises interact with and benefit from network technologies, helping communication service providers to monetize their 5G investments”, added Sameer Tikoo, Group Vice President & General Manager, Communications & Network Providers Business Unit at GlobalLogic. “With our Network as Code platform, GlobalLogic will benefit from having choice, flexibility, and extreme automation to fit its business model and create new value in connecting to ecosystems of applications and services. Leveraging its digital engineering expertise, GlobalLogic is well-positioned to harness this innovation for seamless integration and enhanced connectivity. As a B2B technology innovation leader, Nokia is driving the next evolution of networking to enable people, machines, and devices to interact in real-time like never before”, said Shkumbin Hamiti, Head of Network Monetization Platform, Cloud and Network Services at Nokia. – CRN

    GlobalLogic Inc., announced that it is partnering with Nokia to accelerate the adoption of advanced 5G and 4G enterprise solutions. Through Nokia’s Network as Code platform and developer portal, GlobalLogic will drive innovation across key enterprise verticals, with an initial focus on the automotive, industrial and financial sectors, creating transformative use cases that deliver measurable business value.

    By leveraging Nokia’s Network as Code platform, GlobalLogic’s team of software developers can seamlessly tap into advanced network capabilities, enabling the creation of new, network-aware applications that function across diverse network architectures. This platform empowers developers with Software Development Kits (SDKs) and comprehensive Network API documentation, providing the technical tools needed to innovate quickly and efficiently.

    GlobalLogic will focus initially on use cases designed to enhance operational efficiency, fraud management, customer experience and unlock new revenue streams. Leveraging 5G-powered Network APIs, industrial and automotive companies can transform worker safety, operational efficiency, and help achieve sustainability targets. Connected devices, such as smart helmets and wearables, can utilise network functions to track real-time worker locations and integrate IoT data, including health metrics and environmental factors like gas levels or temperature, triggering real-time alerts to prevent safety hazards. AI enabled predictive maintenance and digital twins ensure safe, efficient operations by identifying faults early, while XR/VR solutions enable remote plant maintenance and immersive training, reducing travel and emissions. In the financial industry, integrating API-driven network insights, device authentication and AI empowers real-time fraud prevention, secures financial transactions, and delivers personalised value-added services, elevating customer trust and experience.

    “The Network as Code platform fosters a unified ecosystem by bringing together telco networks, systems integrators, and developers worldwide,” said Ashay Punekar, Vice President Communications & Network Providers Business Unit at GlobalLogic. “Through this partnership, we are positioned to not only accelerate 5G innovation, but also redefine the way enterprises interact with and benefit from network technologies, helping communication service providers to monetise their 5G investments”, added Sameer Tikoo, Group Vice President & General Manager, Communications & Network Providers Business Unit at GlobalLogic.

    “With our Network as Code platform, GlobalLogic will benefit from having choice, flexibility, and extreme automation to fit its business model and create new value in connecting to ecosystems of applications and services. Leveraging its digital engineering expertise, GlobalLogic is well-positioned to harness this innovation for seamless integration and enhanced connectivity. As a B2B technology innovation leader, Nokia is driving the next evolution of networking to enable people, machines, and devices to interact in real-time like never before”, said Shkumbin Hamiti, Head of Network Monetisation Platform, Cloud and Network Services at Nokia.

  • India to end 2024 with record office space leasing activity, leads globally

    India sees highest-ever office space transactions with 33 pc growth in Jan-June period

    India sees highest-ever office space transactions with 33 pc growth in Jan-June periodIANS

    India is set to witness a record office space leasing activity in 2024, reaching 83-85 million square feet of gross leasing value (GLV) which is a 13 per cent growth from last year, according to a report on Monday.

    India’s office real estate has consistently been witnessing more than 70 million square feet of GLV since 2022 across the top eight cities.

    The current year 2024 is likely to register a historic high volume, driven by healthy volumes seen in the IT-BPM, BFSI, engineering and manufacturing (E&M) and flex operator spaces, said the report by Cushman & Wakefield.

    India’s rising attractiveness as a destination for global capability centres (GCCs) has had a big influence on demand, as GCCs now account for 30 per cent of GLV, with the share projected to rise further.

    Consequently, net absorption of office space is likely to end the year with about 45 million square feet across top eight cities, setting a new record of office market leasing.

    Given the real estate industry’s scenario in the US and China, India is seen as the biggest driver of office leasing volume in the world.

    Within APAC, India is likely going to end the year with nearly 70 per cent of region’s total net absorption, the report mentioned.

    Most of the pent-up demand from increasing return-to-office (RTO) of the erstwhile hybrid workforce have been captured during the 2022-24 period.

    Delhi-NCR 5th most expensive office space rental market in Asia-Pacific

    India’s office real estate has consistently been witnessing more than 70 million square feet of GLV since 2022 across the top eight citiesIANS

    However, other drivers such as influx of new GCCs, growing flex operator footprint, rising number of unicorns, and growth of E&M sector will continue to remain intact, the report noted.

    “This momentum is largely driven by fresh leasing, accounting for over 70 per cent of activity, and the growing presence of GCCs, which contribute nearly 30 per cent of total leasing and are projected to rise to 35 per cent in 2025,” said Veera Babu, Managing Director, Tenant Representation, Cushman & Wakefield.

    As we move into 2025, rental growth in prime markets may shift some demand to emerging micro-markets, where supply and talent pools align.

    “The focus will increasingly be on employee experience, amenities, and proximity to talent hubs, shaping the next phase of office development in India,” said Babu.

    (With inputs from IANS)

  • Delhi-Srinagar Vande Bharat sleeper train route stoppage departure time table and fare

    New Delhi. The work of the Udhampur-Srinagar-Baramulla Rail Link Project (USBRL) project, which connects Kashmir to the rest of the country by rail, has been completed.

    Union Railway Minister Ashwini Vaishnav gave this information by posting on the social media platform ‘X’. Currently, the train runs from Baramulla to Banihal from Kashmir side and from Jammu side to Katra. With the completion of the Udhampur-Srinagar-Baramulla rail link project, trains will now be able to run from Srinagar to New Delhi. Railways plans to run Vande Bharat sleeper train between Delhi and Srinagar. It is expected that the Delhi-Srinagar Vande Bharat sleeper train will start running next month i.e. in January 2025.

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    The New Delhi-Srinagar Vande Bharat Sleeper train will cover the distance of more than 800 km in less than 13 hours. Currently, there is no direct train service available between these two places. With the launch of Vande Bharat Sleeper train, Kashmir Valley will get direct rail connectivity from New Delhi for the first time. Currently, Vande Bharat Express train is being run between Katra in Jammu and New Delhi. This train is very popular among the devotees coming to Katra from all over the country to visit Mata Vaishno Devi.

    Delhi-Srinagar Vande Bharat Route

    Delhi-Srinagar Vande Bharat Sleeper Train will go to Srinagar via Ambala Cantt Ludhiana and Jammu Tawi. It is expected that this train will stop at some major stations like Ambala Cantt Junction, Ludhiana Junction, Kathua, Jammu Tawi, Shri Mata Vaishno Devi Katra, Sangaldan and Banihal. The official announcement of running of this train has not been made yet. But, it is expected that this Delhi-Srinagar Vande Bharat will depart from Delhi at 7 pm and reach Srinagar at 8 am.

    The New Delhi-Srinagar-New Delhi Vande Bharat Sleeper train may have 11 AC 3-tier coaches, four AC 2-tier coaches and one first AC coach. The ticket price for travelling from New Delhi to Srinagar in this train is likely to be around ₹2000 for 3A, ₹2500 for 2A and ₹3000 for 1A.

    Chenab Bridge is on this route.

    Chenab Bridge is being built on the Udhampur-Srinagar-Baramulla Rail Link Project (USBRL). It is the world’s highest arch bridge. The height of this bridge is more than 1,000 feet and it is 1,315 meters long.

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  • Indian share market opens lower, auto and IT stocks drag

    Stock Market Down, Bear Market, Bearish, Sensex Down

    IANS

    The Indian stock market opened in red on Monday as selling was seen in Nifty’s auto, IT, PSU Bank, pharma and metal sectors.

    At around 9:32 am, Sensex was trading at 81,876.95 after declining 256.17 points or 0.31 per cent, while the Nifty was trading at 24,705.60 after dropping 62.70 points or 0.25 per cent.

    The market trend remained positive. On the National Stock Exchange (NSE), 1,170 stocks were trading in green, while 571 stocks were in red.

    Akshay Chinchalkar of Axis Securities said that Friday’s highly volatile session saw the Nifty slump during the early part of the session, “but the day’s low occurred exactly at the falling neckline of the bullish head-and-shoulders pattern which was activated on December 3 with an upside objective of 25,500.”

    This objective remains valid as long as the market stays above 23,873, but more critical support now is the Friday low of 24,180, he added.

    Nifty Bank was down 168 points or 0.31 per cent at 53,415.80. Nifty Midcap 100 index was trading at 59,234.85 after rising 243.30 points or 0.41 per cent. Nifty Smallcap 100 index was at 19,515.40 after rising 108.10 points or 0.56 per cent.

    Stock Market

    Stock MarketIANS

    According to market experts, the huge positions in F&O segments are causing such heightened volatility in the market. The 500 point move in the nifty from the day’s trough to the peak indicates massive short covering.

    In the Sensex pack, NTPC, JSW Steel, M&M, Titan, Kotak Mahindra Bank, Infosys, TCS, Hindustan Unilever Limited, Axis Bank and Tech Mahindra were the top losers. Tata Steel, UltraTech Cement, L&T, ITC, Tata Motors, IndusInd Bank and HCL Tech were the top gainers.

    In the Asian markets, except China, the markets of Hong Kong, Bangkok, Seoul, Jakarta and Japan were trading in red.

    In US stock markets the Nasdaq Composite ended 0.12 per cent higher and Dow Jones Industrial Average ended 0.20 per cent down on the previous trading session.

    Foreign institutional investors (FIIs) bought equities worth Rs 2,335.32 crore on December 13, while domestic institutional investors sold equities worth Rs 732.20 crore on the same day.

    (With inputs from IANS)

  • Post Office’s superhit Scheme: You can get returns up to Rs 8 lakh by depositing just Rs 5000 every month. check all details

    In today’s economic era, everyone wants to earn a lot of money. If you also want to make a big fund by making a big investment, then the small saving schemes of the post office are very popular. You can earn a lot of money through this.

    One such scheme of the post office is Recurring Deposit (RD). In this, your money will be 100% safe. That is, there is no risk of any kind. The more money you invest, the more returns you will get. By investing only Rs 5000 every month, you can raise a huge amount of up to Rs 8 lakh. On the other hand, by depositing Rs 10,000, you can create a huge fund of Rs 16 lakh.

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    Let us tell you that the post office deposits have the sovereign guarantee of the Government of India. Whereas, the maximum amount of money on bank deposits is only Rs. 5 lakhs. In this way, you can create a fund of lakhs by investing small savings every month.

    Earn big money with Post Office RD scheme

    Post Office Recurring Deposit (RD) is such a scheme which promotes small savings. Although its maturity is 5 years, but you can also extend it for 5-5 years. At least Rs 100 has to be deposited every month in the RD of the post office. There is no maximum investment limit in this. Excellent returns can be achieved through this. 6.7 percent interest is being given under this scheme. Along with this, interest will be given at the rate of compound interest. Both single account and joint account facilities are available in RD.

    Create a fund of 8 lakhs like this

    If you deposit Rs 5,000 every month in a post office RD, you will get Rs 8,54,272 on maturity in a period of 10 years. Currently, 6.7 percent annual interest is being given on post office RD. The interest is compounded on a quarterly basis.

    There may be a fine

    If you do not deposit the installment on time, you will have to pay a penalty. It will be Rs 1 for every Rs 100. This means that if you are unable to deposit any installment, you will have to pay a penalty of 1 percent. On the other hand, if you do not pay the installment 4 times, your account will be closed.

    Loan facility is available

    After one year, a one-time loan facility of up to 50% of the deposited amount is also provided. Which can be repaid in lump sum along with interest. Not only this, this account can also be transferred from one post office to another. Installments can also be deposited online through IPPB savings account.

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