Here are the top personal finance news of the day…
WhatsApp has added yet another feature on its app. Users will now be able to edit messages within 15 minutes of sending messages. The editing feature had been rolled out for some users around the globe and will be available to everyone in the next few weeks. Tweaked messages will feature an “edited” label similar to one in Instagram. To edit messages, users will have to press on the sent message, select the “edit” option in the drop-down menu and change the message.
IT deptt notifies ITR forms I and IV
Tax payers can file ITR forms 1 and IV for 2022-23 fiscal at the income tax’s department’s e-filing portal. The Income Tax department has notified these two forms. The last date for filing these two forms is July 31. ITR-1 is filed by individuals, including salaried class and senior citizens. While, ITR-2 is filed by businessmen, professionals and individuals whose annual income doesn’t exceed 50 lakh rupees.
JioMart axes 1,000 jobs
JioMart has decided to get rid of two-third of its 15,000-strong workforce in the next few weeks. The wholesale distribution arm of Reliance Industries has already axed 1,000 employees. The company is also in the process of shutting down 150 fulfilment stores, which are used to deliver general goods and merchandise to mom-and-pop stores in different neighbourhoods.
SpiceJet lowers ticket prices to as low as Rs 1,818
SpiceJet announces cheaper airfares to mark 18th anniversary. The airline has announced ticket flight prices at starting at 1,818 rupees. The offer is available on routes like Bengaluru to Goa and Mumabi to Goa. Passengers can take advantage of the sale from May 23 to May 28. Passengers can book flights under the offer from July 1, 2023 to March 30, 2024.
Investment in REITs become all the more secure
SEBI has directed all REITs and investment trusts to henceforth issue units only in dematerialised form. This means if a retail investor purchases units of REITs his units will be transferred to his demat account. This will make investment in REITs and investment trusts more secure for retail investors. Also, existing securities held by REITs/INvITs should be virtually recorded and dematerialised by June 30, 2023. Compliance to this will be ensured by the investment manager.
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Know brokerages’ view on BPCL
BPCL reported 2-fold rise in March quarter profit. The stock closed more than 1% in green on Tuesday at 366 rupees per share. Motilal Oswal, Emkay Global, Morgan Stanley, BofA Securities and Investec have given a target price of under 400 targets. Nuvama Institutional Equities has set a target price of 442 rupees. More or less brokerages see upto 44% upside from current levels.
Bhavish Aggarwal teases Ola S1 Air electric scooter
Ola Electric CEO Bhavish Aggarwal teased Ola S1 Air electric scooter, the price of which starts from 84,999 rupees. The company will commence delivery of the e-scooter from July, this year. The electric scooter is Ola’s most affordable e-scooter yet and is offered in three different variants, starting from 84,999 rupees for the base model. The top variant is priced at 1.09 lakh rupees. The drive train packs a 2.5 kWh lithium ion battery and guarantees a top speed of 85 kilo metre per hour. It will takr four hours to charge the battery completely.
Simple Energy prices Simple ONE e-scooter at Rs 1.45 lakh
Simple Energy has driven in its maiden electric scooter at starting ex-showroom price of 1.45 lakh rupees. The Bengaluru-based electric two-wheeler manufacturer will start deliveries of the all new Simple ONE electric scooter in the upcoming days staring from Bengaluru. The company claims the e-scooter will run for 212 kilo metres on a single charge. Simple Energy claims the e-scooter is the longest range electric two-wheeler in India.
VIVO drops prices of Y100 and Y100A by Rs 6,000
Vivo is offering heavy discount on Y100 and Y100A smartphones. VIVO has reduced price of base variant Y100 to 23,999 rupees from 29,999 rupees. Price of Y100A has also been reduced by 6,000 rupees. On top of this, ICICI, SBI, Yes Bank, IDFC First Bank customers can get cashback of up to 2,000 rupees. The smartphone sports a 6.38 inch screen, 64 mega pixel front camera, and 16 mega pixel selfie camera and 4,500 mAh battery.
Redmi A2 series goes live on sale at Rs 5,999
Sale of Redmi A2 series kickstarted from 12 noon onwards on Amazon and other e-commerce websites. The affordable smartphone is available at a price of 5,999 rupees on Amazon. Buyers can get an instant discount with ICICI, HDFC and Axis credit cards. The 8 mega pixel camera smartphone is available in black, blue and green shades. It sports a 6.52 inch screen, 5 mega pixel selfie camera, and 5,000 mAh battery. The smartphone runs on Androi 13 Go edition and comes with dual SIM support.
UBI hikes FD rates
Union Bank of Inda has raised interest rates of fixed deposits. The public bank will give as high as 7% on FDs of 399 days. On 5 year FDs, account holders will get 6.70%. On shortest tenure of 7 days, account holders will get 3.% interest rate. While, on 1 year FDs, account holders will get interest rate of 6.30%. Union Bank of India gives senior citizens additional rate of 0.50% over and above applicable rates on FDs of all tenures.
