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Hazel Calvin

Finance

How to Open an Online Bank Account Instantly?

Opening a bank account can be tedious, involving a bunch of paperwork and visits to the bank branch. However, with the advent of technology and mobile banking, you can now open an online bank account instantly without stepping out through your phone!

IDFC FIRST Bank offers a fast and paperless way to open a bank account through its user-friendly mobile app. You can complete the account opening process digitally in simple steps. Read on to learn the benefits of choosing IDFC FIRST and how to open an account using the mobile app in minutes.

Why Choose IDFC FIRST Bank?

IDFC FIRST Bank provides a Mobile Banking Application offering various digital services to manage your finances; here are some key reasons to open your account with IDFC FIRST Bank:

  • Altogether, Digital Account Opening: No need to submit physical documents or visit a branch.
  • Paperless Process: Environmentally conscious digital process.
  • Fast Tracking: Get your account activated within minutes.
  • Zero Balance Accounts: Basic savings accounts have no minimum balance requirements.
  • Top-Notch Security: Bank-level encryption and security protocols.

Step-by-Step Guide to Opening an Account

Follow these simple steps for instant online bank account opening IDFC FIRST Bank account through the mobile app:

1. Download the IDFC FIRST Bank Mobile App

Search for “IDFC FIRST Bank” on the Play Store or App Store and install the official app on your phone.

2. Launch the App and Select ‘Open a New Account’

Open the app, allow access permissions when prompted, and click “Open Account” on the home screen.

3. Enter Your Details

Provide essential information like name, contact details, email ID, birth date, etc. Proceed after ensuring all details entered are accurate.

4. Complete KYC Verification

Upload digital copies of your ID and proof of address. Then, complete instant video-based KYC verification by taking a live photo.

5. Set Up Your Login Credentials

Create a secure username and transaction password for seamless mobile banking access. Enable multi-factor authentication for enhanced security.

6. Review and Confirm Your Details

Do a final review of all your personal, KYC and contact information provided. Ensure everything is correctly entered before proceeding to application submission.

7. Submit Your Application

Accept the Declaration, Terms & Conditions and submit your account opening application.

8. Activate Your Account

Make the initial fund transfer to activate the account instantly. Minimum balance specifications shall apply for different account types.

Conclusion

Thanks to innovative mobile banking solutions from leading banks like IDFC FIRST, opening a bank account is now easier than ever. Its intuitive mobile app lets you open an account digitally in a few minutes. With just your phone and valid KYC documents, you can create a user-friendly, paperless account and instantly activate your savings/current account.

 IDFC First also offers robust security systems and a wealth of features, from online bill pay to insurance to simplified money management tools. So next time you need a new account, ditch the paperwork and long queues! Simply download the IDFC First Mobile Banking App and open your account conveniently, with an instant online checking feature and many more in minutes from wherever you are.

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Loan

How To Improve Your Chances Of Getting A Signature Loan

Securing a signature loan can be a vital step towards achieving your goals. Whether it’s for consolidating debt, financing a major purchase, or covering unexpected expenses, signature loans provide a convenient option without the need for collateral. However, obtaining such a loan isn’t always straightforward. To enhance your chances, here are four effective strategies you can employ.

  1. Boost Your Credit Score

Your credit score is a key factor that lenders scrutinize when evaluating your loan application. A higher credit score signals to lenders that you’re a reliable borrower, increasing your chances of approval and securing better loan terms.

Make a habit of regularly checking your credit report. This allows you to spot any inaccuracies or outdated information that may be dragging down your score. If you find any errors, dispute them promptly with the credit bureaus to ensure your report reflects your true creditworthiness.

Additionally, focus on reducing your credit card balances. High balances can negatively impact your credit utilization ratio, which is a significant component of your credit score. Aim to keep your utilization below 30% of your available credit limit. Paying down your balances improves your credit score and demonstrates to lenders your ability to manage debt responsibly.

  1. Demonstrate Stable Income

Lenders need assurance that you have a steady income to repay the loan. Demonstrating financial stability can significantly enhance your loan application.

Gather all necessary documentation that verifies your income. This may include recent pay stubs, tax returns, and bank statements. Ensure these documents are up-to-date and clearly show your earnings over a sustained period. Consistent and verifiable income will reassure lenders of your ability to meet loan repayments.

If you have multiple sources of income, such as a side business or freelance work, include this information in your application. Diversified income streams can paint a picture of financial resilience, making you a more attractive candidate for a loan. If your income is variable or irregular, provide additional evidence of your financial stability. This could include letters from employers or clients confirming your employment status and income, or a detailed budget showing your ability to manage your finances effectively.

  1. Reduce Existing Debt

Another crucial aspect lenders consider is your current debt load. High levels of existing debt can be a red flag, suggesting that you might struggle to manage additional loan repayments.

Focus on paying down your highest-interest debts first. This will reduce your total debt load and free up more of your income for other financial obligations. Making extra payments on these debts will also expedite the repayment process and decrease the amount of interest you pay over time.

Next, consider consolidating your debts if it makes financial sense. Debt consolidation involves combining multiple high-interest debts into a single, lower-interest loan. This can simplify your repayment process and reduce your overall interest costs, making it easier to manage your finances and present a stronger loan application.

Wrapping Up

Securing a signature loan doesn’t have to be an uphill battle. With these strategies in place, you’re well on your way to achieving your financial goals.

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Loan

Use an EMI Calculator for a Personal Loan to Fund Your Startup

Starting a business is a thrilling venture, but securing the necessary funding can be challenging. One effective way to finance your startup is through a personal loan. However, managing loan repayments can be complex, and that’s where an Equated Monthly Installment (EMI) calculator comes in handy. A personal loan EMI calculator helps you understand your repayment obligations, allowing you to plan your finances better and make informed decisions about your loan.

Understanding EMIs

EMI stands for Equated Monthly Installment, which is the fixed amount you pay every month to repay your loan over a specified period. An EMI comprises two components: the principal amount and the interest on the loan. The EMI remains constant throughout the loan tenure, making it easier to manage your monthly budget.

Benefits of Using an EMI Calculator

An EMI calculator is an invaluable tool when considering a personal loan to fund your startup. Here are some key benefits:

1. Financial Planning

An EMI calculator helps you plan your finances by providing a clear picture of your monthly repayment obligations. By knowing your EMIs in advance, you can budget your expenses more effectively and ensure you have enough funds to cover your loan repayments without straining your finances.

2. Comparison of Loan Offers

Different lenders offer varying interest rates and loan terms. An EMI calculator allows you to compare different loan offers by adjusting the loan amount, interest rate, and tenure. This comparison helps you choose the most cost-effective loan option that suits your financial situation.

3. Understanding Loan Impact

Using an EMI calculator helps you understand how different loan variables affect your repayments. For instance, you can see how a higher interest rate increases your EMIs or how a longer tenure reduces your monthly payments but increases the total interest paid. This understanding is crucial in making informed decisions about your loan.

4. Avoiding Financial Strain

By using an EMI calculator, you can ensure that your loan repayments are within your financial capabilities. This helps prevent the risk of defaulting on your loan, which can have severe consequences, including damage to your credit score and financial stability. Knowing your EMIs in advance allows you to plan for contingencies and avoid financial strain.

How to Use an EMI Calculator

Using an EMI calculator is simple and straightforward. Here’s how you can do it:

  1. Enter the Loan Amount: Input the total amount you wish to borrow for your startup.
  2. Input the Interest Rate: Enter the interest rate offered by the lender.
  3. Select the Loan Tenure: Choose the period over which you intend to repay the loan. This is typically in months or years.
  4. Calculate EMI: The calculator will instantly provide the monthly EMI amount, along with a detailed breakdown of the principal and interest components.

Looking to apply for a personal loan with a few documents? Get a personal loan from Airtel Finance, with low interest rates and just a few documents required for personal loan.

Conclusion

An EMI calculator is an essential tool for anyone considering a personal loan to fund a startup. It helps you plan your finances, compare loan offers, understand the impact of different loan variables, and avoid financial strain. By using an EMI calculator, you can make informed decisions and embark on your entrepreneurial journey with confidence, ensuring that your financial foundation is as strong as your business vision.

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Trading

Managing Volatility with ETFs in the UK: Techniques for Market Swings

Navigating the complexities of market volatility is a cornerstone of successful investing in the UK. Volatility, characterised by rapid and often unpredictable price fluctuations, poses challenges and opportunities for investors. This article explores how Exchange-Traded Funds (ETFs) can be leveraged as effective instruments to manage and harness volatility, enhancing portfolio resilience and performance.

Understanding Volatility and ETFs

Volatility in the UK market arises from diverse factors such as economic data releases, geopolitical events, changes in interest rates, and shifts in investor sentiment. These dynamics lead to fluctuations in asset prices, impacting investment strategies and portfolio outcomes. Managing volatility involves not only mitigating downside risk but also strategically positioning to capitalise on market opportunities during turbulent periods.

So, what is ETF trading? ETFs are investment funds traded on stock exchanges, designed to replicate the performance of a specific index, commodity, or basket of assets. Unlike traditional mutual funds, ETFs offer real-time trading flexibility and generally lower management fees. In the UK, ETFs have gained popularity for their transparency, tax efficiency, and ability to provide diversified exposure across various asset classes and sectors.

Using ETFs to Manage Volatility

Broad market ETFs, such as those tracking indices like the FTSE 100 or FTSE All-Share, offer exposure to a wide range of companies listed on the London Stock Exchange. By investing in these ETFs, UK investors can spread risk across multiple sectors and companies, reducing the impact of volatility on individual stock holdings. Diversification helps to stabilise portfolio performance over the long term while potentially enhancing overall returns.

Sector-specific ETFs allow investors to target specific industries or sectors within the economy. During periods of market volatility, certain sectors may outperform or provide defensive characteristics. For instance, ETFs focusing on healthcare, utilities, or consumer staples sectors can offer stability and income, making them attractive during economic downturns or volatile market conditions.

Volatility-targeted ETFs employ strategies to adjust portfolio exposure based on market volatility levels. These ETFs may utilise options, futures contracts, or dynamic asset allocation techniques to hedge against downside risk or capitalise on market opportunities during periods of heightened volatility. In the UK, volatility-targeted ETFs provide sophisticated investors with tools to manage risk and optimise portfolio performance across different market environments.

Strategies for Mitigating Risk

Inverse ETFs are designed to deliver the inverse performance of their underlying index or asset. These ETFs can serve as effective hedging tools, allowing investors to profit from declining market conditions or specific sectors experiencing downturns. In the UK, inverse ETFs offer a way to mitigate portfolio losses during market corrections or periods of heightened uncertainty, providing downside protection while maintaining overall investment exposure.

Bond and fixed-income ETFs invest in a diversified portfolio of government or corporate bonds, providing stable income and capital preservation. During volatile market conditions in the UK, these ETFs serve as defensive assets, offering investors a reliable source of income and mitigating portfolio risk. Bond ETFs also play a crucial role in diversifying equity-heavy portfolios, balancing risk exposure across different asset classes.

Technical Analysis with ETFs

Technical analysis involves studying historical price and volume data to forecast future price movements. In the UK, investors can apply technical indicators such as moving averages, relative strength index (RSI), or Bollinger Bands to ETF charts. These indicators help identify trends, momentum shifts, and potential entry or exit points during volatile market conditions, enabling investors to make informed trading decisions and manage risk effectively.

Algorithmic trading utilises computer algorithms to execute predefined trading strategies automatically. In the UK, algorithmic trading with ETFs enhances trading efficiency, reduces transaction costs, and captures short-term opportunities driven by market volatility. By leveraging algorithms, investors can optimise trade execution timing, manage portfolio risk more effectively, and capitalise on market inefficiencies during volatile periods.

Risk Management and Considerations

ETF liquidity refers to the ease of buying or selling ETF shares on the secondary market. During periods of heightened volatility, liquidity becomes crucial as rapid price movements can impact trade execution and cost efficiency. UK investors should prioritise ETFs with adequate trading volume and narrow bid-ask spreads to ensure seamless market participation and minimise trading costs.

ETFs in the UK are regulated by the Financial Conduct Authority (FCA), ensuring investor protection, transparency, and adherence to regulatory standards. Understanding tax implications, such as capital gains tax on ETF sales or withholding tax on dividends, is essential for optimising after-tax returns and complying with UK tax regulations. Investors should seek advice from tax professionals or financial advisors to develop tax-efficient ETF investment strategies.

Conclusion

ETFs represent versatile tools for UK investors seeking to manage and capitalise on market volatility effectively. By diversifying through broad market and sector-specific ETFs, employing volatility-targeted strategies, and integrating technical analysis or algorithmic trading, investors can navigate uncertain market conditions with confidence. With careful consideration of liquidity, regulatory frameworks, and tax implications, ETFs empower investors to build resilient portfolios that withstand the challenges of today’s dynamic financial markets.

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Finance

Best practices to secure your current account

It only takes one successful phishing attempt on the part of an individual with malicious intent for you to lose access to the funds in your current account. Go through ten effective steps that you can take today to improve the security of your current account and reduce the risk of any similar type of cyberattack.

10 best practices to secure your current account

Here are the top ten best practices that can help you secure your online current account:

  1. You must regularly check your current account’s activity: Banks generally inform customers immediately via SMS in the event of an unauthorised transaction using their bank account. You can review your bank account statements regularly to detect any discrepancies in your daily transactions. If you notice any suspicious or unfamiliar transactions, you should report them to your bank immediately.
  1. You should update all the important information every few months: The information in question here includes details like your Aadhaar card information, your contact number and address, your PAN card details, etc. If you change your address or phone number, be sure to update it on the app or the bank’s website at the earliest.
  1. Do not share your account information with anyone: While this might seem like a very natural thing to do, you must exercise caution at all times and avoid sharing any banking information with anyone. Cover your PIN while transacting at an ATM and look out for your card when you hand it (for instance) to a merchant at a POS station.
  1. Create strong “passphrases” and keep changing them: Passphrases are phrases like “Mybankpassword100%”. These are easy to remember, easy to form, and they meet all the requirements of strong passwords. Be sure to keep changing your passphrases (for your mobile banking apps) from time to time.
  1. Beware of phishing emails and money mules: Money mules are fraudsters who might try to lure you into revealing sensitive information about your bank account. This can be via a phone call, via an email (called “phishing”), or in person. You must avoid money mules and mark phishing mails as spam.
  1. Use the bank’s official website while transacting: Fraudsters often replicate a bank’s website to lure customers into using them while making a payment. Be sure to use a bank’s official website while making a payment.
  1. Avoid using any public Wi-Fi hotspots while making a payment: Doing so can significantly improve the security of your online transactions.
  1. Ensure that your computer is secure and free from malware: You must also renew your computer’s antivirus (in case it has expired) and make sure that it doesn’t contain any malware before using it to make online transactions.
  1. Sign up for banking alerts: Doing so can help you be notified about a suspicious/unauthorised transaction at the earliest.
  1. Secure your offline documents and regularly review your security arrangements: You must also secure your offline documents by storing them in a locked place. You must shred any documents containing sensitive information before disposing them in a public place to avoid identity theft.

You will have secured yourself from a majority of online cyber attacks if you were to follow all the points mentioned in this article. While choosing an online current account, be sure to opt for a bank that prioritises online security and offers modes of secure log in on its mobile app.

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Finance

Flutterwave CEO Olugbenga Agboola: Bridging Africa’s Financial Divide

Olugbenga “GB” Agboola, the innovative CEO of Flutterwave, is revolutionizing Africa’s financial landscape through his fintech powerhouse. Founded in 2016, Flutterwave has rapidly become a cornerstone of Africa’s digital payment infrastructure, addressing longstanding challenges in cross-border transactions and financial inclusion.

Agboola’s journey to creating Flutterwave was shaped by his diverse experience in the global tech and banking sectors. His time at institutions like PayPal, GT Bank, and Standard Bank across multiple countries provided him with unique insights into the complexities of African finance. Notably, during his stint at Google, Agboola contributed to developing a component of Google Pay that evolved into Google Tez for India, further honing his expertise in mobile payments.

The genesis of Flutterwave stemmed from Agboola’s frustration with the inefficiencies of inter-African banking. He recounts an instance where a significant telecom company struggled to pay its Nigerian staff due to banking limitations despite having sufficient funds. This experience highlighted the need for a third-party intermediary to facilitate smoother transactions across African borders.

Under Agboola’s leadership, Flutterwave has grown exponentially, achieving a valuation of $3 billion in its latest funding round. The company’s success lies in its ability to adapt to the diverse payment preferences across African countries. As Agboola notes, “We try to bring payments close to the people. We give people what payment method they’re very comfortable with.”

The Flutterwave CEO’s vision extends beyond mere financial transactions. He sees the company as an enabler of broader economic development in Africa. Flutterwave has partnered with international giants like Uber, supporting numerous local startups and small businesses. During the COVID-19 pandemic, the company demonstrated agility by launching an e-commerce platform, providing a crucial lifeline for small businesses.

Agboola’s pragmatic and respectful approach to navigating Africa’s complex regulatory landscape emphasizes treating each country’s regulations equally and recognizing that regulators understand their markets best. This strategy has enabled Flutterwave to expand its services across multiple African nations successfully.

Looking ahead, Agboola is optimistic about Africa’s fintech future. He believes the continent is primed for rapid technological leapfrogging, citing examples like Nigeria’s early adoption of chip-enabled payment cards before the US. He sees Flutterwave’s role in this evolution, potentially contributing to initiatives like the Pan-African Payment and Settlement System.

Agboola’s impact extends beyond Flutterwave. Recently, he was appointed vice chairman of the board of directors for the U.S. Chamber of Commerce’s Africa Business Centre. This role recognizes his contributions to strengthening economic ties between the United States and Africa.

The Flutterwave CEO’s philosophy centers on creating tangible value through technology. He emphasizes that Flutterwave’s goal is not just facilitating payments but enabling businesses that help reduce poverty and create value for their stakeholders. For instance, the company supports crowdfunding platforms for women-led community farming projects, illustrating its commitment to fostering economic growth at the grassroots level.

In conclusion, Olugbenga Agboola’s leadership of Flutterwave represents a transformative force in African fintech. By addressing the complexities of cross-border payments and fostering financial inclusion, Flutterwave is facilitating transactions and actively shaping the future of business in Africa. Agboola and Flutterwave are well-positioned to drive Africa’s economic transformation in the coming decades as the continent continues to embrace digital solutions.

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Investment

Flutterwave’s Ambitious Journey: Pioneering Digital Payments and Fostering Economic Growth in Africa

Flutterwave, the trailblazing fintech startup from Nigeria, is making remarkable progress in its mission to revolutionize digital payments across Africa. As the continent’s most valuable startup, Flutterwave has diligently prepared for its highly anticipated initial public offering (IPO) while expanding its operations and forging strategic partnerships to drive digital transformation and economic growth.

Under the visionary leadership of founder and CEO Olugbenga ‘ G.B.’ Agboola, Flutterwave has implemented significant changes to its corporate governance structure, ensuring its readiness for long-term success. The company’s core product, an online payment processing platform, enables businesses to seamlessly receive payments from consumers and companies operating in over 30 African countries. With Uber as one of its flagship clients, Flutterwave has demonstrated its ability to cater to the needs of both local and international enterprises.

To further solidify its position as a critical player in the global economic narrative, Flutterwave has been actively engaging with African regulators, fostering open communication and collaboration. This proactive approach has yielded positive results, as evidenced by the company’s recent acquisition of two licenses in Rwanda despite facing some regulatory challenges in Kenya.

Recognizing the crucial role of small and medium-sized enterprises (SMEs) in Africa’s economic landscape, Flutterwave has prioritized empowering these businesses by providing them with essential digital financial services. Through its innovative solutions, Flutterwave aims to tackle the challenges SMEs face, such as limited access to credit and the inability to transact seamlessly across various payment methods.

In a significant development, Flutterwave’s founder, Olugbenga Agboola, has been named vice chair of the U.S. Chamber of Commerce’s US-Africa Business Center’s board of directors. This prestigious appointment highlights Flutterwave’s commitment to strengthening the commercial ties between the United States and Africa while championing emerging technologies and digital transformation across the continent.

Furthermore, Flutterwave has entered into a groundbreaking five-year strategic technology partnership with Microsoft to accelerate payment innovation and support the growth of small businesses in Africa. By leveraging Microsoft Azure and Azure OpenAI Service, Flutterwave aims to process high-volume payments at scale, ensure a seamless and secure payment experience for its clients, and extend its product offering to millions of merchants worldwide.

This collaboration with Microsoft underscores Flutterwave’s unwavering dedication to driving digital financial inclusion and empowering businesses across Africa. By providing SMEs with the necessary digital financial tools and services, Flutterwave contributes to creating more resilient economies and a brighter future for the continent.

As Flutterwave continues to make significant strides in its journey toward an IPO and foster strategic partnerships, it is well-positioned to shape the digital landscape of Africa and beyond. With its innovative solutions, commitment to empowering businesses, and dedication to driving digital transformation, Flutterwave is not just envisioning an inclusive digital Africa but actively building it, one transaction at a time.

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Finance

Top 10 Penny Stocks Under Rs 100

The Indian stock market caters to all different types of economic backgrounds and financial goals. If you are beginning your journey of investing in the stock market with less capital, penny stocks can be an option to explore. Let’s understand what penny stocks are! 

Penny stocks are high-growth stocks of publicly listed small companies that are usually priced below ₹10. Since the fundamental data and analysis of these companies are either not available or not reliable, they are almost always considered to be high-risk shares. If you are looking for high-yielding short-term stocks, you can definitely opt for these penny stocks.

This blog lists the top 10 penny stocks available in India that are under ₹100.

Penny stocks, as the name suggests, are low-priced stocks issued by companies with low market capitalizations and are mostly traded at low volume. Similar to high-growth stocks, penny stocks are sought by investors looking for long-term appreciation and who are willing to take higher risks for potential higher returns. However, it must also be noted that penny stocks are mostly speculative in nature. Hence, thorough understanding and research about these stocks becomes imperative before investing.

This blog lists the top 10 penny stocks available in India that are under ₹100.

What are Penny Stocks

Penny Stocks are illiquid stocks that are usually priced very low. Some shares were priced less than a penny on the New York Stock Exchange, and hence, the term “penny stocks” was coined. 

These undervalued investments have primarily low market capitalization. These stocks are considered risky in nature due to their illiquid and inherent speculative nature. Moreover, there is also very little information available about these stocks for the public.

10 Penny Stocks Under ₹100

No. Name of the Penny Stock Sectoral Index Current Market Price (₹)

(As of 27/05/24)

1 Suzlon Energy Ltd.  NIFTY 500 45.40
2 Bank Of Maharashtra NIFTY BANK 69.90
3 GMR Airport Infrastructure Ltd. NIFTY INFRASTRUCTURE 88.10
4 Morepen Laboratories Ltd.  NIFTY PHARMA 48.55
5 MMTC Ltd. NIFTY 500 73.75
6 Yes Bank NIFTY BANK 22.95
7 Vodafone Idea Ltd. NIFTY 500 15.10
8 Alok Industry 26.15
9 Dish TV India Ltd. NIFTY MEDIA 16.75
10 UCO Bank NIFTY BANK 58.50

Source: NSE India

  • Suzlon Energy Ltd

Suzlon Energy specializes in wind power generation and is a leading provider of renewable energy services.

  • Bank Of Maharashtra

Bank of Maharashtra (BOM) is a public sector bank dedicated to the Indian state of Maharashtra. It offers a wide range of banking goods and services and financial instruments, like loans.

  • GMR Airport Infrastructure Ltd.

GMR Airport Infrastructure Ltd. is a subsidiary of GEPL that develops, operates, and maintains airports. The company is well-positioned to capture the rapidly growing airport business in India. By implementing the innovative Aerotropolis concept in India, the company aims to develop distinctive airports in Goa, Hyderabad, and Delhi. It has also expanded its overseas footprints by acquiring airport development rights in Greece and Indonesia.

  • Morepen Laboratories Ltd.

Morepen Laboratories Ltd. is a pharmaceutical company engaged in manufacturing, developing and marketing a range of branded and generic pharmaceuticals and health-based products .under its brand Dr. Morepen, which focuses on physical and emotional well-being. 

  • MMTC Ltd.

Metals and Minerals Trading Corporation of India, commonly referred to as MMTC Ltd., is India’s leading international trading company. It has been in operation for around six decades. The company is involved in trading, exporting, and importing a variety of minerals, jewelry, gems and precious metals, coal, industrial raw materials, agricultural products, fertilizers, etc.

  • Yes Bank

Yes Bank Ltd. is a leading private-sector bank that offers dynamic banking solutions.

  • Vodafone Idea Ltd.

Vodafone Idea is a major telecom company in India that offers a variety of mobile services to people across the country. The merger was formed by a collaboration between Vodafone India and Idea Cellular. 

  • Alok Industry

Alok Industry deals in the textile sector of India. They cater to different segments of textiles like technical, home textiles, apparel, etc.

  • Dish TV India Ltd.

Dish TV is India’s leading and one of the most renowned television service providers. They offer television services and a wide range of channel varieties to their subscribers.

  • UCO Bank

UCO Bank is a public sector bank that offers financial and banking services to the citizens of India. 

Benefits of Investing in Penny Stocks

  • Penny stocks offer low-cost entry for new investors in the stock market.
  • These stocks usually turn out to be high-growth stocks if chosen wisely.
  • Penny stocks help you diversify your portfolio.
  • Volatility can be seen as a disadvantage; however, it can present opportunities for short-term traders to earn high profits.

Disadvantages of Investing in Penny Stocks

  1. They are highly volatile and low on liquidity
  2. There may be a lack or limited information available about these stocks
  3. They are highly susceptible to risks and may be speculative in nature

Bottom Line

Although penny stocks come with inherent risks of volatility and losses, they also offer some benefits, including high profits. Before investing in penny stocks, it is crucial to conduct thorough research not only about the stock but also about the industry and overall market.

You can always seek expert advice from SEBI-registered investment advisors to make a well-informed decision. Carefully assessing stocks and their journey is paramount.

Reference links:

Best Penny Stocks to Buy Now in India 2024 | Samco

Best Penny Stocks To Buy Now In India March 2024 – Forbes Advisor INDIA

10 Best Penny Stocks under Rs.100 in 2023 (binaryfinance.net)

Types of Stocks (investopedia.com)

Grammarly screenshot:

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Finance

What’s the Eligibility Criteria for Instant Personal Loans?

It is safe to say that instant personal loans have become a popular financial solution for many. These loans are designed to provide quick and easy access to funds without the lengthy approval process of traditional loans. If you’re considering applying for an instant personal loan, understanding the eligibility criteria is crucial. This blog will explore the typical eligibility requirements and provide specific details about personal loan Apply with Airtel.

Understanding Instant Personal Loans

An instant personal loan is a type of unsecured loan that provides quick disbursement, often within a few hours of approval. These loans are typically processed online, making them convenient for borrowers who need immediate funds for emergencies, travel, education, medical expenses, or other personal needs. The speed and ease of obtaining an instant personal loan make it a preferred choice for many.

General Eligibility Criteria for Instant Personal Loans

While specific eligibility criteria can vary between lenders, there are common requirements that most financial institutions consider when processing personal loan applications. Here are the key factors that lenders typically evaluate:

  1. Age

Most lenders have a minimum and maximum age limit for personal loan applicants. Generally, the age range for eligibility is between 21 and 60 years. Some lenders may extend this range slightly, but it is essential to check the specific age criteria of the lender you are considering.

  1. Employment Status

Employment status is a critical factor in determining eligibility for an instant personal loan. Lenders usually require applicants to have a stable job or a regular source of income. This helps ensure that the borrower can repay the loan. The criteria differ for salaried and self-employed individuals:

  • Salaried Individuals: Typically need to have at least six months to one year of continuous employment with their current employer.
  • Self-Employed Individuals: Usually need to demonstrate a steady income over the past two to three years.
  1. Income

Lenders often have a minimum income requirement for personal loan applicants. This threshold varies depending on the lender and the loan amount. Higher income levels can improve your chances of approval and may result in better loan terms, such as lower interest rates. Lenders require proof of income, which can be in the form of salary slips, bank statements, or income tax returns.

  1. Credit Score

Your credit score is one of the most important factors lenders consider when evaluating your loan application. A good credit score indicates that you have a history of managing credit responsibly and are likely to repay the loan on time. Most lenders prefer a credit score of 700 or above. However, some may approve loans for applicants with lower scores, albeit at higher interest rates.

  1. Debt-to-Income Ratio

Lenders assess your debt-to-income (DTI) ratio to understand your existing financial obligations compared to your income. A lower DTI ratio indicates that you have a manageable level of debt relative to your income, making you a lower risk for lenders. Ideally, your DTI ratio should be below 40%.

  1. Residential Stability

Lenders may also consider the length of time you have lived at your current residence. Long-term residence at the same address can indicate stability and reliability. Proof of address, such as utility bills or rental agreements, is usually required.

  1. Documentation

Accurate and complete documentation is essential for a smooth loan approval process. Common documents required for an instant personal loan application include:

  • Proof of identity (Aadhaar card, passport, PAN card)
  • Proof of address (utility bills, rental agreement)
  • Proof of income (salary slips, bank statements, income tax returns)
  • Employment proof (employment certificate, business registration for self-employed)

Specific Eligibility Criteria for Airtel Personal Loan

Airtel offers a seamless and quick personal loan application process through the Airtel Thanks App. Here are the eligibility criteria for applying for a personal loan with Airtel:

  1. Age

Applicants must be between 21 and 60 years old.

  1. Employment Status

Applicants should be salaried individuals with a stable job. Self-employed individuals may also be eligible, but specific criteria regarding minimum income stability or threshold limit will apply.

  1. Income

Airtel requires applicants to meet a minimum monthly income threshold, which may vary based on the loan amount and repayment capacity.

  1. Credit Score

Airtel typically prefers applicants with a good credit score. While a score of 700 and above is ideal, applicants with slightly lower scores may still be considered based on other factors.

  1. Documentation

Applicants need to provide:

  • Proof of identity (Aadhaar card, passport, PAN card)
  • Proof of address (utility bills, rental agreement)
  • Proof of income (salary slips, bank statements, income tax returns)
  • Employment proof (employment certificate for salaried, business registration for self-employed)

How to Apply for a Personal Loan with Airtel?

Applying for a personal loan with Airtel is easy and can be completed through the Airtel Thanks App. Here are the steps to follow:

  1. Download and Install the App: You can download the Airtel Thanks App from the Google Play Store or Apple App Store.
  2. Register/Login: Register or log in using your mobile number or required details.
  3. Navigate to Loans Section: Open the app and go to the ‘Finance Service’ section.
  4. Check Eligibility: Enter the required details to check your eligibility for a personal loan.
  5. Choose Loan Amount and Tenure: Select the desired loan amount and repayment tenure based on your financial needs and repayment capacity.
  6. Submit Documents: Ensure you upload the necessary documents such as ID proof, address proof, and income proof.
  7. Apply for Loan: It is important to review all the details and submit your loan application.
  8. Approval and Disbursal: Once your application is approved, the loan amount will be disbursed directly into your bank account.

Understanding the eligibility criteria for instant personal loans is crucial for a successful application. Key factors include age, employment status, income, credit score, debt-to-income ratio, residential stability, and accurate documentation. By meeting these criteria, you can increase your chances of securing a loan quickly and with favourable terms. Airtel offers a convenient way to apply for a personal loan online through the Airtel Thanks App, with specific eligibility requirements that are straightforward and transparent. Whether you need funds for an emergency, a special purchase, or consolidating debt, being prepared and informed can help you navigate the personal loan application process smoothly.

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Finance

Tax complications prevent India from catching up with China in investment

CEO Insights reports that India is looking to catch up with China in investment, but faces numerous obstacles that hold back its potential. The tax burden, the lack of proper protection of intellectual property and over-regulated legislation make it almost impossible to successfully enter the market of this country. A number of well-known companies, namely Tesla, Nokia, Parimatch, Foxconn Group and Wistron Group, were convinced of this.

Tax Challenges for Foreign Companies

India has the potential to become an economic giant similar to the U.S. in Asia and compete with China in terms of investment. However, excessive taxation of foreign businesses forces companies such as Parimatch to refrain from investing or leave this market. If these hurdles are removed, India could become an attractive global business destination with a $5 trillion economy by 2027.

Unpredictability of tax policy

The Indian business environment is showing hostility towards domestic and foreign capital. Tesla, Nokia, and other tycoons have faced exorbitant taxes and pressure from tax authorities. According to the University of Paderborn and the World Bank, India ranks 53rd out of 100 for the complexity of the tax code and 58th for the complexity of the tax system.

Big burden for non-resident companies

The global minimum tax rate is a minimum of 15% for multinationals with business revenues of more than €750 million. India’s corporate tax rate for international companies is 30%, compared to 23% globally. The implementation of electronic solutions could significantly facilitate the taxation process and attract more investment, which would already attract the attention of companies such as Parimatch.

Lack of intellectual property protection

The Indian market is facing the problem of counterfeiting. The international betting company Parimatch does not have an official representative office in India, which is why imitators are active in this market. However, Parimatch is committed to investing in India, paying taxes, and supporting the development of the gaming industry, but the lack of proper intellectual property protection is holding back these efforts.

Departure of major players

Due to difficulties in taxation and lack of proper legal protection, many businesses are moving from India to other developing countries. Foxconn Group and Wistron Group have left this promising market, and Tesla has put its plans on hold due to high taxes.

Vietnam redirects Indian investment

Money flows from the leading economies are moving to Vietnam, even though they are badly needed in India. Foreign direct investment is not flowing into India at the rate it could be.

Nevertheless, both domestic and foreign companies, including Parimatch, are willing to invest millions of dollars in the Indian economy today if the government creates a more favorable environment for international capital.

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