In October 2017, Umesh Rathi, 48 years, salaried person residing in Indore required Rs 5 lakh for home renovation. He applied for credit line loan from a fintech organisation using mobile handset instead of traditional method of applying for a personal loan at banks. A credit line is pre-approved credit provided to borrower wherein a person can withdraw a desired amount of credit periodically within a sanctioned limit as per requirements.For instance, for home renovation lumpsum Rs 5 lakh was not immediately required by Rathi. So, he opted for a credit line facility wherein he opted to consume only Rs 3 lakh, to begin with. The interest that got kicked in first was just on Rs 3 lakh of Rs 5 lakh sanctioned by fintech lender.He borrowed the remaining Rs 2 lakh in February 2018 from the same approved credit line. If he had taken a personal loan of Rs 5 lakh from a bank the option of borrowing in parts would not be available, and he would end up paying … [Read more...] about Pre-approved loans on your fingertips: Should you go for credit line when in need?
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On March 12, the Directorate General of Civil Aviation (DGCA) decided to ground Boeing 737 MAX aircraft with immediate effect until appropriate modifications and safety measures are undertaken by the flight operators to ensure safety measures of passengers.At present, Jet Airways' all five Boeing 737 MAX aircraft are already grounded due to the bad health of airline's financial. SpiceJet though will now stop operating 12 Boeing 737 MAX aircraft. Due to this, passengers may face inconvenience as more flights may get cancelled, delayed or rescheduled.As per the Directorate General of Civil Aviation (DGCA) traffic reports, between September 2018 and January 2019, approximately 8.64 lakh domestic passengers faced issues on account of airline companies denying boarding, delays and cancellation of flights.Close For this, passenger airline companies have paid compensation of over Rs 16 crore to customers. related news Facebook removes 3.2 billion fake accounts, millions of … [Read more...] about Flight cancelled or delayed? Here’s how consumers can now get compensated
Rookie batter Shafali Verma, all of 15, on September 5 became one of the youngest to be picked in the Indian women's cricket team, her arrival coinciding with the departure of the long-serving Mithali Raj from the T20 scene.Verma, whose ability with the bat has impressed many, including Mithali, has been selected in the Indian team for the first three games of the upcoming five-match T20 International series against South Africa.Mithali will continue to lead the team in the three-match ODI series, which will follow the five T20 Internationals, where Harmanpreet Kaur will captain.Close A little over five feet tall, Shafali was chosen following her good performances in the Women's T20 challenge earlier and at the age-group level this year. The diminutive Haryana-girl played under Mithali for Team Velocity in the women's T20 challenge which was held during the IPL earlier this year. related news India vs Bangladesh 1st Test, Day 1 LIVE cricket score: Kohli and co start favorite … [Read more...] about Life after Mithali Raj: 15-year-old Shafali comes into Indian women’s T20 squad
Non-metro cities have emerged as the bigger market for unsecured credit in terms of volume than the metros in 2018, according to BankBazaar Moneymood 2019 report.The average personal loan ticket size in non-metros is Rs 2.80 lakh compared to Rs 2.55 lakh in metros. The unsecured credit portfolio includes personal loans and credit cards which are used more for consumption activities than secured loans. "Non-metros are as aspirational, if not more, compared to Indian metros, and they are comfortable taking a loan to fulfil these aspirations," BankBazaar noted.Read | P2P lending still a nascent concept given the huge demand for consumer credit: RupeeCircle's Ajit KumarClose The report, which focuses on emerging trends in the Indian personal finance sector, analysed the transactions of 169 million unique users who logged on to BankBazaar's website in 2018. related news Sabarimala Verdict LIVE: SC to deliver judgment on review pleas against entry of … [Read more...] about Women, non-metros topping up on credit, says BankBazaar survey
In 2017, Sarthak Langde (23), residing in Mumbai, graduated from college and shifted to Bengaluru with a job. At the time, he didn’t imagine his monthly expenses will be beyond his limit. While studying, his discretionary and lifestyle expenses were Rs 20,000-30,000 a month. However, during college days parents used to take care of his monthly allowance for expenses.So, he didn’t have to worry about monthly budget and expenses. However, now moving to the next stage of adult life with job, there are other responsibilities which include managing household expenses away from home and investing in assets as per risk appetite for future goals from monthly income. This scenario is common among several millennials in India as they keep hopping from home city to other cities for better job opportunities after graduation.Often, millennials enjoy the greatest financial freedom as they start earning. Abhinav Angirish, founder of financial advisory firm, InvestOnline.in advised: … [Read more...] about Six steps to accumulate your first Rs 1 crore after you start working