Credit Line on UPI: With the aim of increasing economic activities, the Reserve Bank of India has now allowed Small Finance Banks to give loans.
With this decision of RBI, small entrepreneurs and businessmen in villages and towns will also get the facility of loans at affordable interest rates.
– Advertisement –
New customers will start joining the bank
This is good news for small finance banks and getting loans through UPI (Credit Line on UPI) will open new business avenues for these banks. Many small finance banks (SFBs) like AU Bank have already started giving loans through credit cards. Now new customers will also start joining the banks with this easy method.
Now there is no problem in getting financial help
Loan facility will reach more and more people through UPI. This also makes the transaction between bank and customer very easy. Along with promoting economic development, those deprived communities of the society also get the facility of financial assistance when needed. In such a situation, due to this facility, they will no longer have any problem in starting their work or business on a small scale, which will open new avenues of economic development along with financial activities in the market. New employment opportunities will open up.
These businessmen will get a lot of help
Small Finance Banks in India are a category of banks that have been created to provide basic banking services to small businessmen, small and cottage industries. These banks are governed by the Reserve Bank of India (RBI) under the Banking Regulation Act, 1949. They receive licenses from RBI.
Related Articles:-
8th Pay Commission: Minimum basic salary to rise to Rs 34,500 – Details inside
Bank account deactivating: The rules for deactivating a bank account may change soon, Know what recommendations SBI has given
Petrol Diesel Price: Petrol and Diesel prices released on Saturday 7th December, check the rate of your city
Another important expansion is going to happen in the Delhi Metro network. The Union Cabinet has approved the Rithala-Narela-Nathupur (Kundli) corridor under the Phase-IV project of Delhi Metro.
This new corridor will further strengthen the connectivity between Delhi and neighboring state Haryana. This decision has been taken under the chairmanship of Prime Minister Narendra Modi and under this, this 26.463 km long route will be constructed at a cost of about Rs 6,230 crore.
– Advertisement –
Better connectivity between Delhi and Haryana
This new corridor will make traveling between Delhi and Haryana even easier. Especially in areas of North-West Delhi like Narela, Bawana and parts of Rohini, passengers will get better metro services. This project will not only improve the transport system of Delhi, but it will also simplify the movement between other major areas of Delhi and Haryana.
The new metro line will extend to the Shaheed Sthal (New Bus Adda) – Rithala (Red Line) corridor, which is already an important part in the Delhi Metro network. This extension will provide better connectivity to the National Capital Region (NCR) as well as Ghaziabad and Kundli in Haryana. This decision of the Union Cabinet will help in reducing traffic pressure in Delhi-NCR and will also prove beneficial for the environment, as it will reduce traffic on the roads and also reduce pollution.
There will be 21 stations on the new corridor
A total of 21 metro stations will be built in this new corridor, which will open the way for more convenient travel for the passengers. The major stations among these stations will be Rithala, Rohini Sector 31, Rohini Sector 32, Rohini Sector 36, Barwala, Bawana Industrial Area, Bawana Sector 1 and 2, Sanoth, New Sanoth, Depot Station, Bhorgarh Village, Anaaj Mandi Narela, Narela DDA Sports Complex, Narela Sector 5, Kundli and Nathpur. All stations will be elevated (above), so that there is no interruption in the speed of traffic and passengers can travel safely and fast.
Fourth expansion of Delhi Metro in Haryana
This will be the fourth expansion of Delhi Metro in Haryana. Earlier, the Delhi Metro network extended to Gurugram, Ballabhgarh and Bahadurgarh. The new Rithala-Narela-Nathupur corridor will be an important step in the expansion of Delhi Metro and will provide better and faster transport facilities to the passengers of the National Capital Region.
Earlier, the construction of 3 primary corridors is underway under the Delhi Metro Phase-IV project, which will have a total distance of 65.202 km and 45 stations. More than 56% of the work on this project has already been completed, and it is expected to be completed by March 2026. Apart from this, two more corridors of 20.762 km have also been approved, which will further expand the Delhi Metro network in the coming time.
Impact on economy and environment
The construction of the new metro line will not only improve travel between Delhi and Haryana, but the project will also boost the local economy. Traveling through the metro will reduce the pressure on road transport, which will not only save time but also reduce pollution. Apart from this, the construction of new metro stations and corridors will also increase local business and employment opportunities.
New connectivity opportunities
The launch of the new metro line will greatly improve the connectivity between North Western Delhi and Haryana. Passengers will get relief from traffic jams, road pollution and waste of time. This project will give a better travel experience to the people of both Delhi and Haryana, and it will also improve the economic and social connectivity between the two states.
The construction of new routes under this project is a major achievement, which will not only make the journey of Delhi Metro easier, but it will also be a positive step from the environmental point of view. This new corridor of Delhi Metro will provide better connectivity and convenience between Delhi and Haryana. Passengers will get the benefit of quick and safe travel, as well as it will strengthen the economic condition of the Delhi-NCR region.
Related Articles:-
New Family Card: Govt start family card scheme can use in place of ration card, know the details
PAN 2.0: Is it necessary to link PAN with Aadhaar even after PAN 2.0? know details here
Indian Railways Rules: You can change the date up to 48 hours in advance, know the rules
Billu is revolutionizing how India experiences salon services. Launched in 2019, this innovative app bridges the gap between customers and salons, offering seamless bookings for both in-salon visits and salon-at-home services. Whether you’re a customer seeking pampering or a salon partner aiming for business growth, Billu delivers unmatched convenience, transparency, and accessibility.
For Customers: Your salon, your way
Billu simplifies beauty routines by putting the power of choice and convenience in your hands. With just a click, you can:
Book instantly: Skip the queues with No Wait Appointments. Salon at Home: Get professional salon services at your doorstep. Safe, hygienic and convenient.
Explore and compare: Access reviews, services, and exclusive deals tailored for you. Flexible Payments: Pay online or at the salon – it’s up to you.
For salon partners: Your growth companion
Billu empowers salons and freelancers to reach more customers and streamline operations. With our advanced tools, partners can:
Expand visibility: Tap into a vast customer base in your area. Give At-salon and Salon-at-home services: Expand reach, increase bookings, and provide higher customer satisfaction.
Manage effortlessly : Handle bookings, working hours, and staff calendars with ease. Boost revenue: Introduce offers, track performance, and increase customer loyalty.
Leverage marketing: Promote your services through Billu’s platform and maximize reach.
“Billu is not just an app—it’s a movement,” said Nilesh Kothari, Founder of Billu Salon App. “We’re on a mission to revolutionize the salon experience for both customers and owners. For customers, we make beauty accessible and enjoyable. For salon owners, we offer the tools to grow their businesses and reach new heights. With Billu, beauty isn’t just a service; it’s a lifestyle.”
Why no one waits with Billu?
Customers value prompt service, and delays can often lead to cancellations. With Billu’s No Wait Appointment feature, customers can book and receive services without unnecessary waits, ensuring satisfaction and loyalty for salons and freelancers.
Customer Love
Priya Singh says, “Billu is a game-changer! Whether I’m at home or visiting a salon, the app makes everything so easy.”
Rohit Sharma adds, “From instant bookings to exclusive deals, Billu has transformed my grooming experience.”
Join the Revolution
Be part of the movement that’s changing the salon industry. Download Billu today and experience salon services redefined – anytime, anywhere.
About Billu
Since 2019, Billu has been India’s leading salon booking app, offering unparalleled services to customers and empowering salon owners with tools for growth. With a vision to make grooming accessible and delightful, Billu continues to set new industry standards.
The last month of the year, December, begins and the cold is at its peak. In such a situation, be it school-college or bank, there is a round of holidays everywhere.
The Reserve Bank of India (RBI) releases a list of holidays every year, which includes national and regional holidays.
– Advertisement –
This month, apart from the weekly holiday, there are many state-level and special holidays, one of which is December 12. Banks, schools and government offices will remain closed in Meghalaya on this day. Let’s know the reason behind this-
Why will there be a holiday in Meghalaya on December 12?
December 12 has been declared a holiday in Meghalaya to commemorate the death anniversary of the brave freedom fighter Pa-Togan Nengminza Sangma of the Garo tribe. On this day, the state government pays tribute to the Garo warrior Shaheed Sangma, who sacrificed his life in the struggle against the British rule in 1872.
Who was Pa-Togan Nengminza Sangma?
Pa-Togan Sangma was a courageous freedom fighter from the Garo tribe of Meghalaya. His heroic story was written in 1872, when he led a night attack on British troops in Macha Rongkrek village. However, the Garo warriors suffered defeat due to the modern weapons of the British army. Sangma sacrificed his life in protest against British rule over Northeast India.
Take a look at December holidays
According to the RBI, banks will remain closed for several days in December 2024. To see the complete list of holidays, you can visit the official website of RBI here.
Related Articles:-
Good news! RBI took a big decision, now you can get loan from these banks through UPI
New Family Card: Govt start family card scheme can use in place of ration card, know the details
PAN 2.0: Is it necessary to link PAN with Aadhaar even after PAN 2.0? know details here
Bharat Sanchar Nigam Limited (BSNL) is bringing new offers for its users. This time the company has introduced a new broadband plan of Rs 999, which will last for three months. Lakhs of BSNL users will get the benefit of this offer.
– Advertisement –
Users will get a total of 3600GB data
In this new broadband plan, users will get a total of 3600GB data. This means that 1200GB of high speed data will be available every month. Along with this, users will also get the benefit of unlimited calling to any number across India. In this plan, users will get an internet speed of 25Mbps, which will enable them to use the internet faster. If users finish 1200GB of data, then they can use unlimited data at a speed of 4Mbps.
Another new service announced
BSNL has announced another new service. Now broadband users are getting fiber based Internet Protocol TV service, in which subscription of more than 500 live TV channels and 12 OTT apps will be given for free. This service was first launched in Madhya Pradesh and Telangana and now it has been introduced for the users of Punjab as well. Soon it will be made available to Bharat Fiber users across the country.
How to avail the new offer
Users can avail this new broadband plan by calling BSNL’s self care app, website or helpline number 1800-4444.
New network expansion initiative
BSNL has also strengthened its network and installed about 51 thousand new 4G mobile towers so that users can get better connectivity. Thus, BSNL is not only bringing great internet offers for its users, but is also improving their connectivity and TV service.
Related Articles:-
PAN 2.0: Is it necessary to link PAN with Aadhaar even after PAN 2.0? know details here
Petrol Diesel Price: Petrol and Diesel prices released on Saturday 7th December, check the rate of your city
Bank account deactivating: The rules for deactivating a bank account may change soon, Know what recommendations SBI has given
India’s Unified Payments Interface (UPI) has succeeded in increasing financial inclusion and promoting equitable economic growth by enabling underserved groups, including subprime and new-to-credit borrowers to access formal credit for the first time, according to a new study by IIM and ISB professors.
The authors said that the success of UPI can be replicated in other countries as well and India can play a leading role in helping them adopt the fintech system.
“Within a short span, UPI led to exponential penetration of digital payments across India and is used at all levels from street vendors to large shopping malls,” said the paper prepared by IIM and ISB professors.
Since its launch in 2016, the Unified Payments Interface (UPI) has transformed financial access in India, enabling 300 million individuals and 50 million merchants to perform seamless digital transactions, the study states.
IANS
By October 2023, 75 per cent of all retail digital payments in India were through UPI. The rapid adoption of UPI was possible due to affordable internet across the country.
“The affordability of digital technology played a critical role, enabling widespread UPI adoption in rural and urban areas alike,” according to the study.
According to the paper, a 10 per cent increase in UPI transactions led to a 7 per cent rise in credit availability, reflecting how digital financial histories enabled lenders to assess borrowers better.
“Between 2015 and 2019, fintech loans to subprime borrowers grew to match those of banks, with fintechs thriving in high UPI-usage areas,” according to the study.
The authors said that fintech lenders scaled rapidly, increasing their loan volumes 77 times, far outpacing traditional banks in catering to smaller, underserved borrowers.
The study also highlights that despite the credit surge, default rates did not rise, showing that UPI-enabled digital transaction data helped lenders expand responsibly.
The first prototype of Vande Bharat Sleeper trainset has been manufactured and will undergo field trials. The timeline of rollout of train is subject to successful completion of the trials.
Union Minister of Railways, Information & Broadcasting and Electronics & Information Technology Shri Ashwini Vaishnaw, in a statement is laid on the table of the House of Rajya Sabha, said that presently, Vande Bharat Sleeper Trains planned for long and medium distance journey are equipped with modern features and passenger amenities. Some of the distinguished features and amenities of these trains are as under:
– Advertisement –
Fitted with KAVACH.
EN-45545 HL3 fire safety standards compliant train.
Crashworthy and Jerk-Free Semi permanent couplers and Anti Climbers.
Crashworthy Design of Carbody complying with EN standards.
Regenerative braking system for energy efficiency.
Higher Average speed with quick deceleration and acceleration.
Emergency talk-back unit for communication between Passenger and Train Manager/Loco Pilot in case of emergency.
Accommodation and accessible toilets for Passengers with Restricted Mobility (PRM) in the driving coaches on each end.
Centrally controlled Automatic Plug Doors and Fully Sealed wider gangways.
Ergonomically designed ladder for ease of climbing on to upper berths.
Centralized Coach Monitoring System for better condition monitoring of passenger amenities such as Air conditioning, Saloon Lighting etc.
CCTV surveillance cameras in all coaches.
Talking about medium distance Vande Bharat train services, the Union Minister said that as on 02nd December, 2024, 136 Vande Bharat train services with Chair Car Coaches are running across the Indian Railways network. Of these, 16 Vande Bharat Express services are catering to the needs of stations located in the States of Tamil Nadu. The longest distance Vande Bharat train services are running between Delhi and Banaras, covering a distance of 771 km. He further added that introduction of new train services, including Vande Bharat services and its variants, is an ongoing process on Indian Railways subject to traffic justification, operational feasibility, resource availability, etc.
Related Articles:-
Bank account deactivating: The rules for deactivating a bank account may change soon, Know what recommendations SBI has given
Petrol Diesel Price: Petrol and Diesel prices released on Saturday 7th December, check the rate of your city
Indian Railways Rules: You can change the date up to 48 hours in advance, know the rules
The MPC with a 4-2 majority kept repo rate unchanged at 6.5%. The dissenting votes were cast by 2 of the 3 new members of the MPC. Stance was kept at neutral to allow the MPC flexibility on future path of policy action. This is important as the Governor’s statement underlined the need for maintaining a favourable growth-inflation balance, as the two are highly interlinked. RBI now forecasts GDP growth lower at 6.6% in FY25, while inflation is projected higher at 4.8%. However, with growth expected to recover in H2 and inflation abating, we see a scope of 25bps rate cut in Feb’25. We expect a cumulative easing of 50-75bps in the current cycle.
Key rates: In line with our expectations the monetary policy committee decided to keep repo rate unchanged at 6.5%. However, the voting pattern suggested that calls for a rate cut increased, with 2 members, Dr. Nagesh Kumar and Dr. Ram Singh, now voted for a 25bps rate cut. Stance of the monetary policy was retained at neutral by a unanimous vote.
Growth projections: While noting the slowdown in growth in Q2FY25, RBI expects growth to remain resilient in H2 FY25 and FY26, while advocating the need for caution. Growth projections were lowered to account for the slowdown in growth in Q2. For FY25, RBI expects growth at 6.6%, a downward revision of 60bps. Even quarterly projections were lowered, with the maximum downward revision in Q3 FY25 of 60bps. IIn Q4 FY25, RBI expects GDP growth of 7.2% versus 7.4% estimated earlier, while GDP growth in Q1FY26 is also estimated lower at 6.9% (lower by 40bps). Our GDP estimate stands at 6.6-6.8%, with likely impetus coming from the agriculture sector and government capex.
Inflation projections: RBI revised its inflation projections for FY25 upward to 4.8% versus 4.5% anticipated earlier, with inflation in Q3 estimated sharply higher at 5.7% compared with 4.8% projected in Oct’24 policy. For Q4 FY25 and Q1 FY26, inflation projections were revised up by 30bps to 4.5% and 4.6% respectively. Inflation is projected to moderate to 4% only in Q2 FY26. A good rabiseason along with arrival of kharif harvest is likely to help in easing prices pressure in the near term. Global prices of edible oils and Vegetable prices have started softening as the seasonal impact wanes which is also positive for the inflation outlook. We expect inflation to average between 4.7-4.8% in FY25, in the absence of any fresh shocks, both global as well as domestic.
CRR cut: To ease anticipated shortfall in system liquidity in the coming months, the CRR was cut to 4% of the NDTL from 4.5%. This will be implemented in two equal fortnightly tranches of 25bps each, beginning from 14 Dec 2024. It must be noted that RBI had increased CRR to 4.5% in May’22. The decision is likely to infuse liquidity of ~Rs. 1.16 lakh crores in the banking system which will help ease pressures on banks due to advance tax payments.
Other regulatory developments: RBI also increased the interest rate ceiling on FCNR (B) deposits with maturities of 1 to 3 years and 3 years to 5 years. Accordingly, banks can now garner fresh deposits under these categories by offering a higher rate of interest. This will not only help banks in attracting for investible funds for funding credit growth but will also help in attracting more foreign inflows into India, thus supporting the rupee. Further, it was decided to link the FX-retail platform with the Bharat Connect platform which will enhance access of foreign exchange for MSMEs and ensure greater transparency. On a pilot basis, this will be available only for sole proprietors and individuals for purchase of USD. Other important announcement related to increase in limit of collateral-free agriculture loan to Rs. 2 lakhs from Rs. 1.6 lakh previously. This step is likely to enhance credit access to small and marginal farmers.
Concluding remarks
The latest policy marks a difference from previous policies as the RBI laid greater emphasis on preserving the growth inflation balance. Particularly, durable price stability was recognised as a necessary pre-condition for sustainable growth. Stress was also placed the ‘timing’ of appropriate policy action while being cognizant of the future trajectory and avoiding knee-jerk reactions. We expect a rebound in GDP growth in H2 FY25. Inflation too has started moderating with prices of essential commodities, particularly vegetables, normalizing. Hence, we expect a rate cut in Feb’25 as the most likely scenario with a total reduction of 50-75bps in the current cycle.
December 7, 2024: In celebration of a decade of delighting customers with the convenience and versatility of gifting the Amazon way, Amazon Pay announced that it has successfully delivered over a billion gift cards to Indian customers, reflecting the growing popularity of these cards in the broader Indian gift card market. Issued by Pine Labs under the brand name of Qwikcilver and branded with Amazon Pay India Private Limited (Amazon Pay), since their launch in FY 2014, Amazon Pay Gift Cards have consistently delivered value to customers, showing a double-digit growth year-on-year
Amazon Pay now offers a broad range of gift card options, including Amazon Shopping Vouchers, Amazon Fresh Vouchers, Amazon Prime Vouchers, and the new Amazon Gold Vouchers, all designed to provide customers with more flexibility in their gifting choices. These offerings cater to a wide variety of preferences, ensuring there’s something for everyone.
To meet the needs of India’s rapidly growing gaming community, which spans over 400 million gamers (Source: Invest India), Amazon Pay has introduced gaming gift cards for popular platforms such as Apple App Store, Valorant, Unipin, Steam, and PlayStation. These new gift cards have quickly gained popularity, driving a 10% increase in monthly sales compared to Amazon Pay’s existing gift card base.
Neha Gupta Mahatme, Director – Stored Value & Gifting, at Amazon Pay, commented on the anniversary, saying, “We are grateful to our customers for making Amazon Pay Gift Cards a trusted and preferred choice over the past decade. With over a billion gift cards delivered, millions of customers shared the joy of gifting in a simple and meaningful way. The 40% increase in gift card purchases during the 2024 Amazon Great Indian Festival reflects the growing trust and love our customers have shown. As we celebrate this milestone, we remain focused on continuously improving and providing gifting solutions that truly meet the needs and preferences of our customers.”
Commenting on the 10th anniversary, Navin Chandani, President – Issuing Business, Global at Pine Labs said “Our decade-long partnership with Amazon Pay has been instrumental in reshaping the gift card experience in India, combining Pine Labs’ tech expertise with Amazon Pay’s reach and brand loyalty. Together, we’ve introduced a robust, scalable gift card solution that caters to millions of customers and continues to drive significant value across demographics. As we celebrate this milestone, Pine Labs remains committed to enhancing our platforms, delivering secure, versatile, and innovative card issuing and processing solutions that respond to India’s evolving trends.”
In line with its mission to simplify customers’ lives, Amazon Pay introduced the ability for customers to instantly share gift cards via messaging apps, making gifting faster and easier than ever. To enhance the experience, Amazon Pay also launched personalized gift cards featuring designs by artist Alicia Souza, animated options meetings of the day!
, and vernacular language cards, offering something for every customer. These innovations have not only driven higher gift card usage but also set Amazon Pay Gift Cards apart in the Indian market. With the flexibility to shop on Amazon and partner platforms like Swiggy, Uber, and 1MG, Amazon Pay Gift Cards have become the gift of choice for individuals and businesses seeking versatile, rewarding gifting solutions.
As India’s gifting landscape transforms, Amazon Pay Gift Cards remain at the forefront of the digital gifting revolution. With factors such as increased internet penetration, rising disposable incomes, and the expansion of e-commerce driving growth, the Indian gift card market is expected to reach a valuation of USD 57.27 billion by 2032, at a compound annual growth rate of 13.5% (Source: Credence Research). Amazon Pay Gift Cards have firmly established themselves as a key player in this thriving industry.
There are some legal rules and procedures for renting out property in India. Even if the tenant stays on the property for 12 years, he can become the owner, but the provision for this is a bit difficult but it is not at all that it cannot happen. That is why we have brought information about the rules for renting out property for you.
Along with this, we will tell you how you can protect your property from being occupied by a tenant. For this, what paperwork should you complete before giving the property on rent.
– Advertisement –
General rules for renting
There should be a written tenancy contract between the landlord and the tenant, which contains details of the rent, mode of payment, duration, responsibility for repairs, etc. The tenant gets the right to use the property, but cannot violate the rights of the property owner. The landlord can increase the rent from time to time, but it should be as per the state rules.
How can a tenant become an owner?
Under Indian law, if a tenant has occupied a property for a certain period of time and the landlord has not tried to take it away, in some states the tenant may have the right to become the owner of the property. This process happens under “Adverse Possession”, which is recognized under certain conditions given in Indian law.
Adverse Possession Rule
If a person occupies a property illegally and this occupation continues for a few years, then that person can claim the rights of the owner. This process is usually completed in a period of up to 12 years, if the landlord has not made any attempt to occupy the property and the tenant continues to occupy it.
What are the conditions of the rules?
The status of possession must be publicly, clearly and conspicuously maintained. The possession must be private and without obstruction. The time limit can be up to 12 years (or sometimes 30 years, depending on state law). However, this rule does not apply in all cases, and this doctrine cannot be used if the landlord has already claimed the property in court or taken legal action.
Legal disputes related to tenancy
If there is a dispute between the tenant and the landlord, it can be resolved in the court. In this context, the tenant must first obtain a right in the court. Rent Control Acts are applicable in some states, which clearly define the rights of the tenant and the landlord and also bring discipline in it.
Related Articles:-
Indian Railways Rules: You can change the date up to 48 hours in advance, know the rules
New Family Card: Govt start family card scheme can use in place of ration card, know the details
Indian Railways Rules: You can change the date up to 48 hours in advance, know the rules
