The World Opinion

Category: Economy

  • Latest SBI FD Rates 2024: How Much Return Will You Get From Fixed Deposit? Check Here | Personal Finance News

    New Delhi: Investment horizon, risk tolerance, and personal financial objectives all influence where one should put their hard-earned money. For cautious investors looking to preserve wealth, fixed deposits (FDs) are a great option because they provide security and consistent returns. A fixed-income instrument unaffected by erratic market fluctuations is the fixed deposit.

    During the selected tenor, the interest rate that is in effect at the time of booking an FD stays the same. Estimating the returns at maturity is made simple by it. (Also Read: From Investment To Income: A Rs 5-7 Lakh Investment In This Business Idea Could Yield Rs 1.5 Lakh Monthly Returns)

    It is an ideal investment instrument if you have financial objectives that you need to meet within a set amount of time. It’s among the safest investing choices out there right now. (Also Read: ‘Return To Office Or…’: TCS Issues Final Warning To Employees Doing Work From Home)

    Here are the interest rates you can get on fixed deposits with State Bank of India (SBI) if you’re depositing less than Rs 2 crore starting from December 27, 2023:

    For short-term deposits (7 days to 45 days), the interest rate is 3.5 percent for the general public and 4 percent for senior citizens.

    For medium-term deposits (46 days to 179 days), the interest rate is 4.75 percent for the general public and 5.25 percent for senior citizens.

    For slightly longer periods (180 days to 210 days), the interest rate is 5.75 percent for the general public and 6.25 percent for senior citizens.

    If you’re looking to invest for around a year, the interest rate is 6 percent for the general public and 6.5 percent for senior citizens.

    For 1 year to less than 2 years, the interest rate is 6.8 percent for the general public and 7.3 percent for senior citizens.

    For 2 years to less than 3 years, the interest rate is 7 percent for the general public and 7.5 percent for senior citizens.

    For 3 years to less than 5 years, the interest rate is 6.75 percent for the general public and 7.25 percent for senior citizens.

    For longer-term deposits (5 years and up to 10 years), the interest rate is 6.5 percent for the general public and 7.5 percent for senior citizens.

    There’s also a special scheme for 400 days called Amrit Kalash, where the interest rate is 7.1 percent for the general public and 7.6 percent for senior citizens.

  • Here's what goes into manufacturing a Hyundai Creta: Watch

     Hyundai recently released the manufacturing process of the new Hyundai Creta. Check out the journey through the production line.

  • Mahindra XUV300 Flex Fuel: Check Out Design, Specifications, Price | Auto News

    At the 2024 Bharat Mobility Expo, Mahindra unveiled its pioneering foray into the flex fuel domain with the introduction of the XUV300 Flex Fuel variant. This marked a significant milestone as Mahindra joined esteemed automakers like Maruti Suzuki and Toyota in showcasing their flex fuel vehicles on the grand stage of the Bharat Mobility Expo. Let’s take a look at what this four-wheeler has to offer:

    Mahindra XUV300 Flex Fuel Design 

    Externally and internally, the XUV300 Flex Fuel retains its signature design and comfort features without any alterations. While the show car exhibited at the expo, specifically the W6 variant, sported additional stickers to emphasize its alternative fuel nature, the essence of the vehicle remains intact. However, enthusiasts can anticipate a major update for the XUV300 in the near future, with expectations high for the flex-fuel compatible version to debut alongside the upcoming XUV300 facelift.

    Mahindra XUV300 Flex Fuel Specifications

    Under the hood, the XUV300 Flex Fuel boasts the tried-and-tested 1.2-litre three-cylinder turbo-petrol engine, renowned for its performance in the standard version. Generating a robust 109bhp and 200Nm of torque, this powerhouse remains unchanged in terms of output. However, significant modifications have been made to ensure compatibility with flex fuel. This means the XUV300 Flex Fuel is primed to operate seamlessly on a blend ranging from E20 to E85, showcasing its versatility and commitment to eco-friendly driving.

    Mahindra XUV300 Flex Fuel Pricing Strategy

    In the current landscape, the XUV300 Flex Fuel stands unrivaled as the sole sub-four-meter SUV offering a flex fuel-compatible option. However, this dynamic could shift once the XUV300 Flex Fuel hits the streets, potentially catalyzing competitors to follow suit. Notably, Maruti Suzuki’s Brezza also made waves at the Bharat Mobility Show with its CBG version, highlighting the emergence of alternative fuel options in the compact SUV segment. The glimpses of Mahindra XUV300 Flex Fuel were uploaded by a YouTube channel called Nik’s Automotive.

    When it comes to pricing, Mahindra anticipates a slight premium for the FF version of the XUV300 over its standard counterpart. Enthusiasts can expect a modest increase of approximately Rs 1-1.5 lakh upon its anticipated launch in the Indian market, reflecting the value proposition and eco-conscious technology embedded within the XUV300 Flex Fuel.

  • 'UPA Made Economy Non-Performing In 10 Years:' FM Sitharaman Tables White Paper In Lok Sabha

    Sitharaman shared the White Paper in both English and Hindi. 

  • Business Success Story: From Batter To Business, The Rise Of Vikesh Shah, Founder Of 99 Pancakes | Companies News

    New Delhi: Vikesh Shah, the founder of 99 Pancakes, embarked on his entrepreneurial journey at the age of 16 to support his family. Born in Mumbai, India, in 1979, Shah’s determination and hard work led him to pursue various business ventures in the food industry, ultimately culminating in the establishment of 99 Pancakes.

    Entrepreneurial Journey

    Shah’s foray into the food business began with a part-time job at a bakery after completing his 12th standard. His early struggles and the need to contribute to his family’s finances instilled in him a strong work ethic and a drive to succeed. Subsequently, he ventured into corporate catering and other food-related businesses, laying the groundwork for his future endeavors.

    Founding 99 Pancakes

    In 2017, Shah founded 99 Pancakes with an initial investment of Rs 9 lakh. The chain, known for its diverse range of pancake flavors, quickly gained popularity and expanded to 45 stores in 15 cities across India. The brand’s turnover reached Rs 13.5 crore, reflecting the remarkable success of Shah’s innovative venture.

    Innovative Approach and Future Plans

    Shah’s commitment to innovation is evident in his recent creation of fruit shots, aimed at making fruits more appealing to consumers. Furthermore, he aspires to maintain the consistent quality of his products as he plans to expand the chain to 100 stores. Shah’s dedication to upholding product quality has led him to opt for a company-owned and operated model for the next phase of expansion, eschewing franchise allocations to ensure uniformity across all outlets.

    His success story serves as a testament to the potential for achievement through hard work and dedication in the business world.

    The provided search results offered insights into Vikesh Shah’s entrepreneurial journey, his founding of 99 Pancakes, and his innovative approach to business. The information was utilized to construct a comprehensive overview of Vikesh Shah’s success story, incorporating his family background, entrepreneurial path, and future for 99 Pancakes.

  • RBI Monetary Policy February 2024: Will RBI Keep Interest Rate Paused? Know What Experts Say | Economy News

    New Delhi: The Reserve Bank of India (RBI) is all set to announce the outcome of the Monetary Policy Committee (MPC) decision on Thursday amidst market speculations that the central bank might go for another interest pause this time too. 

    The three-day MPC meeting Chaired by RBI Governor Shaktikanta Das, commenced on February 6 and is set to conclude today. A year is divided into six bimonthly reviews of the central bank’s monetary policy. Additionally, there are out-of-cycle reviews, where the central bank holds extra sessions in urgent situations.

    For a year, the Reserve Bank has kept the repo rate unchanged at 6.5 percent. The benchmark interest rate was last raised in February 2023 to 6.5 percent from 6.25 percent.

    Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research said that RBI MPC is likely to maintain the status quo on rates at least till Jun 2024.

    “We anticipate a rate cut thereafter aggregating to 50-75 bps in the next six months. The policy stance may, however, be changed to neutral by Apr-24, given the low likelihood of a further rise in interest rates,” he added.

    Echoing the same views on Rate status-quo, George Alexander Muthoot, MD, Muthoot Finance said the focus on fiscal consolidation in the recent Interim budget by the honourable Finance Minister, may give some headroom to the RBI to change stance to ‘Neutral’ from the current stance of ‘withdrawal of accommodation’.

    “In the backdrop of recent tight system liquidity conditions, the industry will watch out for RBI’s communication and view on system liquidity. Amidst the slowdown in global economy, the resilience of Indian economy clearly stands out, and the Government focus on capex spending along with the RBI’s prudent monetary policy is likely to keep Indian economy on the steady growth trajectory, while keeping the demand conditions intact,” Muthoot added.

    Meanwhile, an SBI Research report said that it expects the RBI to continue pause stance in upcoming policy. The report also added that We believe the RBI should continue its stance to withdrawal of accommodation.

    “Strong US non-farm payroll data and wages seem to have pushed back on market expectations for a quick pivot to rate cuts. First rate cut on table from Jun’24. Aug’24 looks the best bet now,” it added.

     

  • Indian Motorcycle Unveils Exquisite Roadmaster Elite: Check Full Details | Auto News

    Indian Motorcycle, renowned for its legacy of crafting exceptional rides, has pulled the veil off its latest masterpiece – the Roadmaster Elite. This limited edition marvel, based on the Roadmaster platform, promises to redefine luxury touring in the motorcycle realm. With only 350 units slated for production worldwide, the Roadmaster Elite exudes exclusivity and sophistication.

    Aesthetics and Design

    The Roadmaster Elite boasts a captivating tri-tone paint scheme, featuring Indian’s signature Red Candy, Dark Indian Motorcycle Red Candy, and Black Candy. This distinctive palette, coupled with exclusive badges, ensures the Roadmaster Elite commands attention while retaining its classic appeal. From its iconic round headlight to the expansive fairing, every aspect of the design exudes elegance and style.

    Roadmaster Elite Features

    Indulging riders in unparalleled comfort, the Roadmaster Elite is adorned with premium features and meticulous attention to detail. Polished footrests, a gloss black dash, and color-matched stitching on the seat elevate the aesthetics. Furthermore, the inclusion of a tinted windscreen enhances both style and functionality, catering to the discerning rider’s every need.

    Equipped with top-of-the-line components, the Roadmaster Elite promises a superior riding experience. LED headlights illuminate the path ahead, while 10-spoke alloy wheels ensure stability and performance. The heated and cooled seats guarantee comfort in diverse weather conditions, while the 7-inch touchscreen display, accompanied by a 12-speaker audio system, provides entertainment on the go. Additionally, saddlebags offer ample storage space, making long journeys a breeze.

    Roadmaster Elite Specifications

    The Roadmaster Elite consists of an impressive 1890cc, air and oil-cooled V-Twin engine. Generating 118bhp and 170Nm of torque, this powerhouse mated to a 6-speed gearbox, ensures thrilling acceleration and effortless cruising. It is paired with telescopic front forks, a mono-shock at the rear, and disc brakes on both ends.
    With its striking design, premium features, and unparalleled performance, it sets a new standard in the realm of two-wheeled extravagance.

  • Business Success Story: From Startup Vision To Billion-Dollar Success, The Journey Of CRED Founder Kunal Shah | Companies News

    New Delhi: Kunal Shah, the visionary entrepreneur behind CRED, was born and raised in Mumbai, India. Coming from a middle-class family, Shah’s upbringing instilled in him values of hard work, perseverance, and innovation. His family background provided him with a strong foundation, nurturing his entrepreneurial spirit from a young age.

    Venturing Into Entrepreneurship

    Shah’s journey into entrepreneurship began early in his career. After graduating with a degree in Philosophy from Wilson College in Mumbai, he dabbled in various ventures, including starting a company called Paisaback, which offered cashback to credit card users. However, it was his stint at FreeCharge that would set the stage for his meteoric rise in the startup world.

    Founding FreeCharge

    In 2010, Shah co-founded FreeCharge, an online platform that revolutionized the way people recharged their mobile phones and paid utility bills. Under Shah’s leadership as CEO, FreeCharge quickly gained traction, attracting millions of users with its innovative approach to digital payments. The company’s success caught the attention of e-commerce giant Snapdeal, which acquired FreeCharge in 2015 for a whopping $400 million, marking one of the largest acquisitions in the Indian startup ecosystem at the time.

    The Birth Of CRED

    Following the acquisition of FreeCharge, Shah didn’t rest on his laurels. In 2018, he founded CRED, an exclusive platform that rewards users for paying their credit card bills on time. With CRED, Shah aimed to address the issue of credit card debt while providing users with a premium experience. Despite skepticism from some quarters, Shah’s foresight and understanding of consumer behavior propelled CRED to success.

    Redefining Credit And Rewards

    CRED’s unique value proposition resonated with affluent credit card users, who were drawn to the platform’s sleek interface, personalized offers, and attractive rewards. By gamifying credit card payments, Shah effectively incentivized responsible financial behavior while fostering a community of high-spending, credit-worthy individuals.

    Continued Innovation And Growth

    Under Shah’s guidance, CRED has continued to innovate, expanding its offerings to include services like CRED RentPay and CRED Pay, further cementing its position as a leader in the fintech space. Despite facing challenges along the way, Shah’s unwavering determination and strategic vision have enabled CRED to thrive, attracting millions of users and garnering the attention of investors worldwide.

    By leveraging technology to solve real-world problems and staying true to his vision, Shah has not only transformed the way people perceive credit but has also redefined the boundaries of possibility in the startup ecosystem. As CRED continues to grow and evolve, Shah’s legacy as a pioneering entrepreneur is sure to endure for years to come.

  • Jana Small Finance Bank IPO Opens Today: Key Things To Know | Markets News

    New Delhi: The Initial Public Offering (IPO) of Jana Small Finance Bank is all set to open today. The bank will use the money from the fresh issue to augment its core capital to meet future capital requirements and to improve its capital adequacy ratio. Jana Small Finance Bank Limited, has allotted 40,32,588  Equity Shares to 17 anchor investors and raised Rs 166.95 crore ahead of the IPO on Tuesday..

    “The Bank plans to raise funds through initial public offering comprising fresh issue of Equity Shares aggregating to ₹ 4,620.00 million (₹ 462 crore) ( the “Fresh Issue”)* after adjusting for the Pre-IPO placement and Offer of Sale aggregating up to 2,608,629  Equity Shares by the selling shareholders (the “Offer for Sale”) (together, the “Offer”). The Offer includes a reservation of up to ₹ 135.00 million for subscription by eligible employees (“Employee Reservation Portion”),” the company had said.

    Here are key things you want to know about Jana Small Finance Bank IPO 

    Jana Small Finance Bank’s issue consists of a primary share sale of Rs 462 crore at the upper end of the price band and the remaining Rs 108 crore as offer for sale.

    The company has fixed Price Band at Rs 393 to Rs 414 per equity share of face value of Rs 10 each

    Bid/ Offer will open on Wednesday, February 7, 2024 and close on Friday, February 9, 2024

    The Anchor Investor Bidding Date was February 6, 2024 during which the company raised Rs 166.95 crore

    Out of the total allocation of 40,32,588 Equity Shares to the Anchor Investors, 2,41,560 Equity Shares (i.e. 6 % of the total allocation to Anchor Investors) were allocated to 1 domestic mutual funds through a total of 2 schemes.

    Bids can be made for a minimum of 36 Equity Shares and in multiples of 36 Equity Shares thereafter

    Axis Capital Limited, ICICI Securities Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the issue.