How to finance your child’s sports dreams

While building a fund for your child’s sports career, the range, and depth of engagement in a particular sports line will dictate the level of expenses for it. The major expenses could involve sports trainer (technical) fees, training gear or playing equipment, gym trainer fees (including the things bought for home use such as Thera bands, foam roll, ice packs, weights and balancing ball), costs of hiring the ground or net, club membership fees, match playing fees, fees of a nutritionist, fees of a physiotherapist (to ensure that her form while…

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IIFL Finance eyes Rs 1000-cr NCD sale

Non-banking lender IIFL Finance is looking to raise up to Rs 1,000 crore through a domestic bond sale this month. The issue, which comes in times of liquidity stress, has been priced at similar levels as the one in January when it had raised Rs 1,200 crore, offering a coupon up to 10.5 percent, the company said. Chief executive Sumit Bali exuded confidence that despite the elevated cost, they will be able to maintain net interest margins at 7 percent because of its focus on retail. It is looking to…

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Population control: Finance Commission may not reward states for poor show

The hue and cry last year over the ToR with regard to use of 2011 population, prompted PM Modi to announce that the Centre has suggested to the commission to “consider incentivising the states who have worked on population control.” The 15th Finance Commission (FC) may assign a lower weight to ‘population’ than 17.5% by the previous FC while giving a ‘respectable’ weight to progress made in curbing population growth to balance the needs represented by the latest population and progress towards population control, for inter-se distribution of resources among…

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Are you good at managing financial accounts? These startup roles may be perfect for you

Financial accounting is crucial for any company’s existence. A financial executive or financial analyst is required to manage revenue accounts, and can be a part of the company’s short and long-term business strategies, investments, and other decisions. A finance executive’s job include keeping track of financial transactions, preparing financial reports, reviewing statements, preparing accounting ledgers and performing various other finance-related tasks. If you are good with numbers and money, then one of these finance executive openings might help you. Livspace Finance Executive Experience needed: 2-5 years The candidate will be responsible for document verification of…

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Want To Teach Your Young Child About Finance? Here Are Five Simple Activities To Get You Started.

Little Joe’s Coffee & Books, Katonah NY MARY ANN DAVIS Growing up, most of us (adults) weren’t taught about finance. Money was considered taboo, and it simply wasn’t spoken of. Today we are paying for it. It’s obvious now the problems that come along with not having a financial education. Adults are swimming in debt through credit cards and student loans. Financial stress wreaks havoc on marriage and health. Most Americans do not have enough saved for retirement. But really, this shouldn’t be surprising. Why should adults know how to manage their…

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Who is Rajiv Kumar, the new finance secretary

The Appointments Committee of Cabinet (ACC) headed by Prime Minister Narendra Modi on Tuesday approved the appointment of Rajiv Kumar as the administrative head of one of the key economic policy making divisions of the government – the ministry of finance. The finance secretary is the senior-most bureaucrat among the finance ministry’s five departments—economic affairs, revenue, expenditure, financial services and department of investment and public asset management (DIPAM). Kumar a veteran of power corridors of the North Block, is also secretary, financial services. He succeeded 1983 batch Indian Administrative Service (IAS) officer Subhash…

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Out of Finance Ministry, Subhash Chandra Garg: No one in govt questioned overseas bonds

S C Garg (right) takes charge as Power Secretary from A K Bhalla on Friday. (PIB/PTI Photo) Taking charge as Power Secretary, former Finance Secretary Subhash Chandra Garg Friday said “no one in the government” had opposed the idea of sovereign bond issuance during his tenure in the Finance Ministry. On Thursday, the day after he was moved out of the Finance Ministry, Garg said he had applied for voluntary retirement from the IAS with effect from October 31 — he was due to retire in October 2020. Gujarat-cadre officer Atanu…

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Weak retail growth worry hits Bajaj Finance

Bajaj Finance stock fell 4% today post the announcement of its first quarter results, for the period ended June 2019. In all, the stock has lost 12% in the last two months as the slowdown in consumption has begun to show in the company’s performance. Bajaj Finance, the country’s most valuable lender, said in its investor presentation that credit disbursals fell 15%-18% during the quarter as the company tightened lending norms in several categories that contribute to more than two-thirds of its business. The new norms have affected both urban…

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Aye Finance gears up for aggressive pan India expansion

Aye Finance, CapitalG backed fintech lender, has announced plans for aggressive Pan-India expansion in the current fiscal. After a successful year which saw Aye reaching a milestone AUM figure of INR 1000 crores, the fintech lender will be opening 67 new branches to service the credit needs of a larger number of Indian micro enterprises. Aye has been rapidly expanding its footprint and in this round Aye is entering the new states/UT of Maharashtra, Gujarat, Bihar, Jharkhand, Chhattisgarh, Chandigarh and Himachal Pradesh along with strengthening its branch presence in the…

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Piramal sells entire 10% stake in Shriram Transport for ₹2,300 crore

New Delhi: Ajay Piramal-controlled Piramal Enterprises Ltd on Monday sold its entire stake of about 10% stake in commercial vehicle financier Shriram Transport Finance Co Ltd., citing a “broader strategy” to leverage opportunities for growth in its financial services business. As of 31 March, Piramal held 22.6 million shares in Shriram Transport, which specialises in financing second-hand trucks, representing a 9.96% stake. The stake sale will fetch Piramal approximately ₹2,300 crore, based on the closing price of the stock on Monday. “Earlier this year in April 2019, Piramal Enterprises Ltd. had announced…

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