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  • Google Maps: Major changes are going to happen in Google Maps from the new year, these services will be available for free

    Google is making big preparations for Google Maps. Google has announced to provide more facilities to Indian developers from its Maps platform. Now Indian developers will be able to use Routes, Places and Environments Application Programming Interface (API) and Software Development Kit (SDK) etc. for free.

    This service will be available from March 1, 2025. From March 1, developers will get the services of Maps, Routes, Places and Environments products for free up to a monthly limit. With this, they will be able to easily assemble all the products like nearby places and dynamic street view without any upfront cost.

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    Access to free services worth up to $6,800

    Tina Weyand, Senior Director, Product Management, Google Maps Platform, said, in India this means that instead of the $200 monthly credit we provide today, developers will soon be able to use free services worth up to $6,800 every month. This will allow developers to build better solutions and experiment with Google APIs and SDKs at no cost. Developers will have to pay only when they exceed the free usage limit.

    Google Maps is used for making everything from delivery to travel apps

    Let us tell you that Google Maps platform is used in India for everything from delivery to making travel apps. Tina Weyand said, our coverage in India extends to more than 70 lakh kilometers of roads, 30 crore buildings and 3.5 crore businesses and places. The tech giant said that Google Maps Platform has recently introduced specific pricing in India.

    This includes up to 70 percent lower pricing on most APIs and a collaboration with the Open Network for Digital Commerce (ONDC), which offers developers up to 90 percent discount on select Google Maps Platform APIs. The company said that as a result of these changes, the bills of many developers have been reduced by more than half and the bills of small developers have been reduced even more.

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  • NRAI cautions restaurants about risks of deep discounting for In-Dining Services

    National Restaurant Association of India (NRAI)

    IANS

    The National Restaurant Association of India (NRAI) has issued a stark warning to restaurants about the potential long-term adverse effects of in-dining deep discount programmes and aggregator payment platforms. Representing over 5 lakh restaurants, the NRAI has expressed concern that these programmes, while seemingly beneficial in the short term, could pose a significant threat to the economic stability and autonomy of restaurants, leading to a disruption in the restaurant ecosystem.

    NRAI President Sagar Daryani has emphasized that the industry is at a critical juncture. The decisions made now will shape the future of dine-in operations. He cautioned that while deep discounting may seem appealing in the short term, it poses long-term risks to restaurants’ independence and viability, particularly when these discounts are mandatorily bundled with the aggregator’s payment gateway.

    Deep discounting has already caused significant challenges in the food delivery market. The NRAI has warned that similar tactics are being employed to capture the dine-in market through aggressive aggregator payment gateway adoption. These gateways reward clients with aggressive discounts and cashback, often sponsored at the expense of the restaurants themselves. However, this comes at a cost to the restaurants, who must pay substantial commissions on transactions, ranging from 4-8 per cent, significantly higher than the 1-1.5 per cent charged by standard payment gateways.

    NRAI warns restaurants about long-term adverse effects of in-dining deep discount

    IANS

    The NRAI has emphasized that deep discounting presents substantial economic hurdles to the restaurant business. Unlimited and unsustainable discounts alter price structures, setting unreasonable expectations for customers and undervaluing the dining experience. These practices disproportionately affect small, independent enterprises, who lack the financial resources of larger, better-funded competitors, making it harder for them to compete and survive in the long run.

    As customers become more reliant on these gateways, restaurants face a significant risk of losing direct ties with their customers. This transfers them into the aggregator’s ecosystem and compromises the restaurant’s autonomy. The NRAI has urged restaurants to be cautious and thoroughly consider the terms and conditions of aggregator payment systems before making decisions, taking into account the financial implications of deep discounting campaigns.

    This warning from NRAI comes at a time when the global economy is grappling with the effects of the COVID-19 pandemic, which has disrupted supply chains and pushed energy prices higher, impacting both consumers and businesses. Small businesses have been particularly affected, with many struggling to survive amidst the economic downturn. However, despite these challenges, small businesses have stepped up, creating a remarkable 300,000 new jobs.

  • Adani Green fastest wealth creator, Adani Enterprises best all-round wealth creator: MOFSL

    Adani Enterprises to launch maiden Rs 800 crore retail bond issue on September 4

    Adani Green fastest wealth creator, Adani Enterprises best all-round wealth creator: MOFSLIANS

    Adani Green has emerged as the fastest wealth creator during the five-year period (2019-March 2024), with a compound annual growth rate (CAGR) of 118 per cent, a Motilal Oswal Financial Services Limited (MOFSL) study showed on Tuesday.

    According to the ’29th Motilal Oswal Annual Wealth Creation Study,” Rs 10 lakh invested in 2019 in the top ’10 Fastest Wealth Creators’ would be worth Rs 1.75 crore in 2024, a return CAGR of 77 per cent compared to 14 per cent for Nifty 50.

    Adani Enterprises became the ‘Best All-round Wealth Creator’ for the third time in a row.

    “We define all-round wealth creators based on the summation of ranks, under each of the three categories – Biggest, Fastest and Consistent. Where the scores are tied, the stock price CAGR decides the All-round rank. Based on the above criteria, Adani Enterprises has emerged as the Best All-round Wealth Creator,” the MOFSL study said.

    During 2019-2024, the top 100 wealth creators of India Inc created wealth of Rs 138 lakh crore. The pace of Wealth Creation was at 26 per cent CAGR, well higher than the BSE Sensex return of 14 per cent.

    The study defined consistent wealth creators based on the number of years the stock has outperformed in each of the last 5 years.

    Adani

    Adani Enterprises became the ‘Best All-round Wealth Creator’ for the third time in a rowIANS

    “Where the number of years is the same, the stock price CAGR decides the rank. Based on this, over 2019-2024, the relatively low-profile Linde India has emerged as the Most Consistent Wealth Creator. It has outperformed the Nifty Total Return Index in all the last 5 years, and has the highest price CAGR of 68 per cent,” according to the study.

    The financial sector emerged as the largest wealth-creating sector, ahead of technology and utilities in the reported period.

    Public sector undertakings (PSUs) wealth creation performance during 2019-2024 is a significant improvement over the last three studies — 20 PSUs accounted for a healthy 17 per cent of wealth created.

    “The key factors driving PSU wealth creation are the profit of 9 financial companies rising 19 times over 5 years and the profit of Coal India rising 4 times over 5 years,” the study noted.

    (With inputs from IANS)

  • What is LIC Bima Sakhi Yojana? Here is the eligibility, application process and list of required documents

    Life insurance

    LIC Bima Sakhi Yojana Details: Prime Minister Narendra Modi has launched the Bima Sakhi Yojana to make women financially empowered and self-reliant. Bima Sakhi Yojana is a big step towards the economic empowerment and self-reliance of women which will not only provide employment but will also promote women’s participation in the insurance sector.

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    Under this scheme, the ‘Bima Sakhi Yojana’ initiative of Life Insurance Corporation of India (LIC) is designed to empower women aged 18-70 years whose academic qualification is 10th class pass. To promote financial literacy and insurance awareness, the government will provide them special training and stipend for the first three years.

    The basic objective of this scheme is to provide employment to women in rural and urban areas through the insurance sector. The government has initially allocated a budget of Rs 100 crore for this scheme.

    LIC Bima Sakhi Eligibility

    • Candidates applying for LIC’s Bima Sakhi should be 10th class passed.
      • Candidates must be 18 years of age as on the date of application.
      • The maximum age at entry will be 70 years (last birthday).

      LIC : Bima Sakhi Income Structure

      • LIC’s Bima Sakhi (MCA Scheme) is a stipend scheme exclusively for women with a stipend period of 3 years.
      • In the first year, stipend will be Rs 7000 per month.
      • Stipend for the second year is Rs 6,000 per month, provided at least 65 per cent of the policies completed in the first stipend year are in force at the end of the relevant month of the second stipend year.
      • Rs 5,000 in the third year (provided that at least 65 per cent of the policies completed in the second stipend year are in force at the end of the relevant month of the third stipend year.)

      How to apply for Bima Sakhi Yojana?

      • To apply for Bima Sakhi Yojana, you have to visit the official website of LIC. You can apply by following the steps given below-
      • Visit LIC website: First of all, visit the official website of Life Insurance Corporation of India (LIC).
      • Click on the application link: Click on “Apply for Bima Sakhi Yojana (licindia.in/test2)” on the website.
      • An application form will open in a new window.
      • Now fill the required form with all the required details including selection of state and district.
      • Fill all the required details correctly like name, date of birth, address etc.
      • After submitting the form, you will see a message on the screen and you will also get a notification on your mobile number.

      Bima Sakhi Yojana: List of required documents

      Candidates applying for Bima Sakhi Yojana will have to submit certificates and other documents along with the application form. Please see the list of documents given below-

      • Aadhar card
      • Residence Certificate
      • PAN card
      • Educational Qualification Certificate (10th pass)
      • Mobile Number
      • Passport size photo


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  • RBI, Finance Ministry coordination at its best, says Shaktikanta Das

    RBI, Finance Ministry coordination at its best, says Shaktikanta Das

    IANS

    The Reserve Bank of India and the Finance Ministry have been on “best terms with excellent coordination and cooperation” over the last six years, outgoing RBI Governor, Shaktikanta Das, said in his farewell address on Tuesday.

    He said, “The perspectives of the central bank and the Finance Ministry may differ at certain times but I believe in my tenure we have been able to settle such things.”

    Das said restoring a balance between inflation and growth in the economy remains an important task for the Reserve Bank.

    Governors keep in mind the needs of the broader economy when deciding on things and eventually, it is a judgment call every time, he added.

    Das also highlighted the wide-ranging ‘consultative approach’ and the emphasis on the need for financial inclusion during his 6-year tenure.

    Reserve Bank of India (RBI)

    IANS

    During his tenure, Shaktikanta Das launched several innovative products involving the UPI, which he said has emerged as a ‘pioneer’ in the global payments system. He added that he will be closely watching the pan-India rollout of the Unified Lending Interface, a digital platform to streamline and speed up the loan approval process. The ULI is expected to help borrowers avail credit while ensuring that lenders process customer information with ease.

    He said that the supervisory methods of the central bank have ‘significantly improved’ and are ‘much sharper’ now.

    “We have given a lot of attention to cyber security. That is a continuing task. It will be a continuing challenge for every central bank including RBI,” Shaktikanta Das said during the interaction with journalists in RBI headquarters in Mumbai on his final day at office.

    In a string of posts on X, he expressed gratitude for support from the Prime Minister, Finance Minister, and stakeholders in the financial sector.

    “Will demit office as Governor RBI later today. Thank you, everyone, for your support and good wishes,” Das wrote on the social media site.

    The government has appointed senior bureaucrat Sanjay Malhotra as the next governor of the RBI who took charge of the central bank on Tuesday. Malhotra is an Indian Administrative Service officer of the 1990 batch from the Rajasthan cadre. His latest posting was as Revenue Secretary in the Ministry of Finance.

    (With inputs from IANS)

  • Jio, Airtel, Vi and BSNL users ALERT! New rule will be implemented from tomorrow, know what is the Message Traceability Rule

    Good news is coming for users of Reliance Jio, Airtel, BSNL and Vi. From tomorrow, December 11, 2024, the Telecom Regulatory Authority of India (TRAI) will implement a new rule called message traceability.

    This rule is designed to reduce the spam messages coming on our mobile phones. This new rule was initially scheduled to come into effect from December 1, but it was extended to give service providers a little more time to prepare. Originally, this rule was to come into effect by October 31, but it was extended to December 1 on the request of telecom companies.

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    You will get relief from the new rule

    Until now, it has been difficult to trace the source of many fraudulent messages and spam. This new technology aims to change that. By making it easier to trace the source of these messages, TRAI hopes to protect people from fraud. This new system will allow everyone to be traced, from the sender of the message to the one who delivers it. This will create a clean process, including people like telemarketers. This process will be completed before the message reaches the service provider.

    TRAI has also taken care that with this new rule, important messages, such as OTP for banking and other services, do not reach late. They have said that these important messages will reach on time. Important OTPs will reach on time.

    Under this new rule, promotional messages and spam without registration will be blocked. This will make it easier for users to identify advertising and promotional messages. More than 27,000 companies have already registered, and the process is going on rapidly. Overall, this new rule will make communication safe and transparent for everyone.

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  • SIP investments in India above Rs 25,000 crore for 2nd month in a row

    SIP investments in India above Rs 25,000 crore for 2nd month in a row

    SIP investments in India above Rs 25,000 crore for 2nd month in a rowIANS

    The inflow into systematic investment plans (SIPs) stood at Rs 25,320 crore in November in the country, almost similar to the October figures (Rs 25,323 crore), according to data from the Association for Mutual Funds in India (AMFI) on Tuesday.

    In November, the mutual fund industry’s total assets under management (AUM) increased to Rs 68.08 lakh crore in November from Rs 67.25 lakh crore in October, as per the data by the AMFI.

    In October, the SIP investments crossed Rs 25,000 crore for the first time in the country. The continuously increasing SIP figure shows that people prioritise investing in mutual funds through SIP.

    The share of direct plans in SIP accounts have reached around 40 per cent, from nearly 21 per cent four years ago.

    As per industry data, the AUM linked to direct plan SIPs increased to Rs 2.7 lakh crore by October 2024, from Rs 29,340 crore in March 2020.

    During this period, the share of direct plans in SIP AUM increased by 12.2 per cent to 20.3 per cent.

    The number of SIP accounts stood at its highest ever at 10.12 crore in October. It was 9.87 crore in September.

    Systematic Investment Plans

    SIP accounts stood at its highest ever at 10.12 crore in OctoberIANS

    Motilal Oswal AMC Executive Director and Chief Business Officer Akhil Chaturvedi said that there was heightened volatility due to various macroeconomic factors, geo-political events and US election results.

    “This resulted in investors opting for a wait and watch approach while allocating larger amounts and thus decline in lumpsum flows including flattish SIP numbers for November,” he said.

    Equity-linked Savings Schemes (ELSS) saw an increase in inflows, rising to Rs 618.5 crore in November from Rs 362 crore in October.

    Meanwhile, small-cap funds experienced a 9.0 per cent increase in November, rising from Rs 3,772 crore to Rs 4,112 crore.

    Mid-cap funds also saw a slight increase of 4.3 per cent, climbing from Rs 4,683 crore to Rs 4,883.4 crore.

    (With inputs from IANS)

  • Indian mutual fund industry’s AUM crosses Rs 68 lakh crore for 1st time

    Indian mutual fund industry's AUM crosses Rs 68 lakh crore for 1st time

    Indian mutual fund industry’s AUM crosses Rs 68 lakh crore for 1st timeIANS

    The assets under management (AUM) of the mutual funds (MFs) in India increased to Rs 68.08 lakh crore in November from Rs 67.25 lakh crore in October, according to the data from the Association for Mutual Funds in India (AMFI) on Tuesday.

    Overall, active equity schemes AUM crossed Rs 30 lakh crore to Rs 30.35 lakh crores as of end November, which is now 44.5 per cent of the total mutual industry AUM at Rs 68.08 lakh crore. 

    The inflow into systematic investment plans (SIPs) stood at Rs 25,320 crore in November in the country, almost similar to the October figures (Rs 25,323 crore). 

    The number of SIP accounts stood at its highest ever at 10.22 crore in November, from 10.12 crore in October, as per the AMFI data. 

    mutual funds

    Equity-linked Savings Schemes (ELSS) saw an increase in inflowsIANS

    According to Himanshu Srivastava, Associate Director-Manager Research, Morningstar Investment Research India said that domestic investors continued with their investment spree into the equity-oriented mutual funds in the month of November as well.

    “The correction in the markets during the month provided a good investment opportunity for investors, which they didn’t fail to capitalise on. This logged the 45th consecutive month of net inflows into the segment,” he added.

    Equity-linked Savings Schemes (ELSS) saw an increase in inflows, rising to Rs 618.5 crore in November from Rs 362 crore in October.

    “Overall, debt saw a net inflow of only Rs 12,915 crore in November which is less than 10 per cent of the net inflows of Rs 1.57 lakh crore in October,” said Mayukh Datta, Chief Business Officer, ITI Mutual Fund.

    Deepak Ramaraju, Senior Fund Manager, Shriram AMC, said that mid and small cap funds recorded growth (on-month) in net inflows by 4.3 per cent to Rs 4,883 crore and 9 per cent to Rs 4,112 crore, respectively.

    (With inputs from IANS)

     

  • Financial Deadline: Complete these 5 work before 31st of December for better financial planning

    There are about three weeks left for the year 2024 to end. This is the right time to review your financial plan, tax planning and investment portfolio. Many people do not get time to pay attention to these things due to their busy work.

    Such people should take out some time for these tasks at the end of the year. Moneycontrol is telling you about some such important tasks, which would be good to complete before 31 December.

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    1. Rebalancing your portfolio

    The stock market started declining in early October this year . The decline has been seen reducing in the last few sessions. However, the value of your portfolio would have decreased due to the decline in October and November. The balance of equity and debt would have changed. This is the right time to take a close look at the portfolio once. If the share of equity in your portfolio has decreased, then you can use the opportunity of market decline to invest in equity. This will balance your portfolio again.

    2. Tax planning

    If you use the old income tax regime, then you should check once whether you have made the necessary investment to claim tax deduction. If you have not done so, then you have time till March for that. To claim deduction under Income Tax Section 80C and 80D, you have to invest before March 31. By checking now, you will know how much more investment you have to make for tax savings. If your health insurance is going to be renewed in January or February, then you have to plan for its premium payment from now. If this is not done, renewal may be missed.

    3. Investment plan for 2025

    Many people increase their investment every year. This is very important to create a big fund in the long term. If you have also planned to increase your investment from next year i.e. January, then you have to prepare for it from now. You can decide the plan by looking at your financial situation as to how much additional investment you can make from January. If you want, you can increase your investment in mutual fund schemes through SIP from January.

    4. Belated return filing

    If for some reason you have missed filing income tax return by 31 July, then you can file belated return till 31 December. Income tax return for FY24 can be filed till 31 December with penalty. However, in filing belated return, the taxpayer also has to pay interest on the tax amount. You can take the advice of your tax expert in this regard.

    5. Insurance planning

    If you have not taken term insurance or you have a policy with low cover, then this is the right time to review it. The cover of your life insurance policy should be sufficient for your needs. The cover of your health policy should also be sufficient. By reviewing it at the end of the year, you can plan to increase the cover in the new year.

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  • India leads hiring outlook globally in Q1 2025: Report

    India leads hiring outlook globally in Q1 2025: Report

    IANS

    Employers in India foresee a robust employment outlook in Q1 2025, according to a report on Tuesday.

    The report by ManpowerGroup reveals that 53 per cent of employers plan to hire, while 13 per cent anticipate a decrease in their staffing levels in Q1 2025. Meanwhile, 31 per cent do not expect any change.

    “India remains one of the world’s fastest-growing large economies, with its position as the global leader in employment outlook for Q1 2025 highlighting the confidence of employers in the country’s economic trajectory,” said Sandeep Gulati, Managing Director, ManpowerGroup India and Middle East.

    Compared to Q4 2024, employers in IT (+50 per cent), consumer goods and services (+40 per cent), energy and utilities (+38 per cent), health care and life sciences (+38 per cent), transport and logistics, and automotive (+36 per cent) and communication services (+30 per cent) have shown growth.

    India leads hiring outlook globally in Q1 2025: Report

    IANS

    The strongest outlook among the regions comes from West India (+43 per cent) increasing by 4 per cent from the previous quarter, closely followed by East India (+41 per cent) which saw a considerable rise of 11 per cent during the same period.

    The findings are based on the company’s Employment Outlook Survey data of more than 3,000 employers across various regions of India.

    “Significant investments in artificial intelligence (AI), along with public funding have benefitted the IT sector’s employment market, resulting in the sector leading with an Outlook of 50 per cent. With strong contributions from financials and real estate and year-on-year growth across all regions, India’s job market continues to reflect resilience and adaptability amid an uncertain global landscape. Larger organisations are driving this momentum, signaling sustained opportunities for talent across the country,” Gulati said.

    Further, the report showed investment from MNCs looking to reduce their operation costs appears to be benefitting India, and the outlook for 2025 looks more positive.

    “Economic growth is likely to pick up with increasing consumer spending as inflation potentially subsides, and agricultural output is likely to improve after favorable monsoon conditions. In this mixed environment, India’s employment expectations are expected to grow slightly,” Gulati said.

    (With inputs from IANS)