The following are the top personal finance news of the day
This news is for those who have invested in Adani group companies. Shares of Adani Power can witness heavy fluctuations n the coming days as National Stock Exchange has increased the circuit limit on the counter from 5% to 20%. This will apparently lead to mass level fluctuations in its share price. Along with Adani Power, shareholders of Adani Transmission, Adani Wilmar and Adani Green can also see massive fluctuations as the exchange has upped the circuit limit of these stocks as well. As soon as the NSE increased the cap, Adani Power jumped 5% on Wednesday and closed at 294 rupees. The exchanges have hiked circuit limit of another stock which is Rail Vikas Nigam Limited. Consequently, the navratna stock RVNL jumped 6% and closed at 127 rupees apiece on BSE.
Developing countries more optimistic on AI
According to a survey by Boston Consulting Group, developing countries are more optimistic about Artificial Intelligence than developed countries. Developed countries have in fact given their feedback that they are very much concerned about Artificial Intelligence. Two countries which are most optimistic about Artificial Intelligence are Brazil and India. While, countries like Netherlands, France and Japan are most concerned about threats caused by Artificial Intelligence. Top executives of companies all around the globe have admitted that they are using generative Artificial Intelligence to increase work efficiency. Only one third of employees surveyed think that their job is likely to be eliminated by AI. While, most of employees believe they will need skilling to survive from the rising malice of AI.
Get Samsung Galaxy F54 5G for Rs 27,999 introductory price
Samsung has launched Galaxy F54 5G smartphone at 29,999 rupees. it comes with 108 mega pixel no shake camera. But customers can purchase the flamboyant smartphone at just 27,999 rupees on Flipkart and Samsung stores. The special price is inclusive of 2,000 rupees discount on purchase via plastic money. There are two variants of this smartphone. maximum storage capacity is of 256 GB. Some of other striking features include Android 13, 6.7 inch AMOLED screen, 32 mega pixel selfie camera and 6,000 mAh battery.The smartphone is available in blue and silver shades.
Jimny price to start from Rs 12.74 lakh
Country’s largest automobile manufacturer Maruti Suzuki said base model of newly launched 5 door Jimny will come at ex-showroom price of 12.74 lakh rupees. Deliveries of the SUV kickstarted from June 7, 2023. Automatic transmissions of both alpha and beta variants are pricier than manual transmission. The Zeta AT model will cost 13.94 lakh rupees. While, Alpha MT will come at ex-showroom price of 13.69 lakh rupees. While, the highest variant Alpha AT will come at an ex-showroom price of 15.05 lakh rupees.
Ather offering 5 yrs loan tenure on E2Ws
People who want to buy e-scooters of Ather Energy will now get 60 months or 5 years time to repay their loan. Ather Energy has rolled out this facility for customers of financial institutions IDFC First, Bajaj Finance and Hero FinCorp. Such customers will get 60 months loan repayment time on purchase of e-scooters of Bengaluru based electric two wheeler manufacturer. Long repayment tenure will make buying e-scooters more affordable. It will also expedite growth of India’s two-wheeler market.
Mahila Samman makes a big splash
A savings scheme has been attracting eyeballs of women depositors in a big way. The scheme was launched by Finance Minister Nirmala Sitharaman in Budget 2023. Within just 2 months since the government had thrown open the Mahila Samman Savings Certificate scheme, more than 5 lakh women depositors have invested in it. In just two months, the receipts have surged to 3,666 crore rupees. Currently, women depositors can invest in this scheme only in post offices. It is likely that investors will also be able to open this account through banks by the end of current month. The investment limit is 2 lakh rupees. Women get fixed interest rate of 7.5%. Returns are taxable. Currently, the scheme is open only till March 31, 2025.
Investment in SCSS quadruples after rate hike
Senior citizens have been rapidly increasing investment in Senior Citizens Savings Scheme ever since the government hiked interest rates to 8.2% on April 1, 2023. They have quadrupled investment in the scheme in April-May period of current calendar year as compared to year ago period. The elderly have invested total of 23,000 crore rupees in just two months of April and May of current calendar year. They are getting higher interest rate in this scheme than in most of fixed deposits of various banks in the country. Inflow in Senior Citizens Savings Scheme will swell up its AUM. Plus, it will inculcate savings habit in elderly.
Shopkeepers in New Delhi to turn night owls
In an effort to boost business environment in New Delhi, the Delhi government has granted permission to more shops to operate 24 hours. The Delhi government’s aim is to promote “Ease of Doing Business.” This step will create more job opportunities and safeguard the interests of workers. It will contribute to the overall development of Delhi’s economy. Furthermore, the availability of essential goods and services for Delhi residents will be more convenient, and employment opportunities will increase.
No equity funds in beginning: Bajaj Finserv MF
Bajaj Finserv Mutual Fund has said that the AMC will not launch any equity funds for now. Bajaj Group has recently entered India’s mutual fund industry. It will roll out three schemes in the fixed income, liquid and money market products by the end of the current month. Group chairman and MD Sanjiv Bajaj said the group will have late mover advantage as they will have the advantages of knowing what works and what doesn’t work. Bajaj said India’s mutual fund industry was small vis-à-vis industries of US, England and Singapore. There are 42 registered AMCs in India with overall AUM of 42 lakh crore rupees
