Buying a car during COVID times? Avoid special financing schemes

April was a disastrous month for car makers, as sales were almost nil for most of them. Many car manufacturers have now rolled out schemes to attract buyers. Then, there are discounts and exchange offers too. Should you buy a car by taking such financing schemes, discounts and exchange offers after the lockdown and are they worth it? Naveen Kukreja – CEO and Co-founder, Paisabazaar.com says, “While opting for any of these finance schemes, the customers need to remember that the overall interest cost of these loans would be higher…

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Ujjivan Small Finance Bank Q4 net rises 15% to ₹73.2 cr

Ujjivan Small Finance Bank reported 15% jump in net profit at ₹73.2 crore for the quarter ended March, 2020. It had reported net profit of ₹63.8 crore in the year-ago period. The interest earned in March quarter was ₹737 crore as against ₹536 crore in March 2019. The Gross NPA was 0.97% during the quarter as against 0.95% in December quarter while Net NPA was 0.2% as compared to 0.38% in the previous quarter. The lender made ₹70-crore provisions on account of Covid-19. Net interest margin was at 11.2% in…

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Explained: The ‘travel bubble’ idea that many are pinning hopes on

The Baltic countries of Estonia, Latvia, and Lithuania on Friday started what is being referred to as a ‘travel bubble’ to help put their economies back on track post-Covid lockdowns. With the pandemic throwing both international and domestic trade and travel out of gear since earlier this year, such ‘travel bubbles’ are now being recommended to keep at least parts of the global economy afloat. The three European Union (EU) states, who have launched this measure, have so far remained comparatively unscathed by the virus, recording less than 150 combined…

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What you need to know about your home finance in the time of Covid-19

With lockdown and its economic fallout causing untold damage to the economy, more and more South Africans are finding themselves on unpaid leave, reduced salary packages or laid-off entirely. This is places many homeowners under severe stress when it comes to keeping up with their mortgage repayments and could well be deterring new buyers from entering the market as well. Under difficult circumstances like these, it’s easy to give in to feelings of hopelessness. However, according to Leonard Kondowe, National Admin Hub Manager for Rawson Finance, there are actually some…

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Stocks in news: Biocon, Tata Consumer, Escorts, Cipla, L&T Tech, M&M Financial, Manappuram Finance and more

Stocks in the news today: Here is a list of top stocks that are likely to be in focus in Friday’s trading session based on latest developments. Companies set to announce their earnings are Cipla, Crompton Greaves Consumer Electrical, L&T Technology Services, Mahindra & Mahindra Financial Services. Investors will also be taking cues from the latest released March quarter earnings Share Market LIVE: Sensex drops 180 points, Nifty at 9,128; Bharti Infratel, ICICI Bank, Maruti top losers Key highlights on share market; check the latest stock market news -Yesterday, Sensex…

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Lenders extend ICA for Reliance Home Finance resolution till June 30

As per June 7 circular of the Reserve Bank of India (RBI), lenders need to extend the time period of the pact if an account has not been resolved within 180 days of signing ICA. The lenders had signed ICA in July last year to resolve RHF. “The resolution of the company depends on the kind of offer we get from management, so far it has not been convincing,” a lender told FE on the condition of anonymity. Financial creditors have a total exposure of Rs 3,986 crore to RHF.…

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Finance firms, banks want loans repaid

MYSURU: Borrowers are worried as micro-financing firms, private banks and some primary co-operative societies have stepped up pressure for recovery of loans, going against the spirit of Reserve Bank of India’s moratorium relief. With the lockdown norms relaxed, their agents have entered the villages knocking at the doors of the borrowers asking them to pay the weekly instalment. A few have sent SMS messages asking them to pay the instalment and have even threatened that they may not be able to further raise loans in future as they may end…

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Hyundai launches five finance schemes to bolster customer confidence

At a time when demand has fallen to a trickle amid the Covid-19 pandemic and the ensuing national lockdown in India, Hyundai has come up with several finance schemes to ensure that customers are encouraged to make purchases without much worry regarding the prevailing uncertainties. On Friday, the Korean car maker announced five finance schemes which it claims will help buyers put their mind at ease if and when going for new purchases. These include a three-month low EMI scheme, step-up scheme, balloon scheme, longest-duration scheme and a low down…

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How Remote Education is Evolving During the Crisis

Over the last decade, online education has grown significantly, especially for adult learners who want to earn a degree or certificate while working full-time. The National Center for Education Statistics (NCES) reported 6.6 million students enrolled in distance education courses at postsecondary institutions during the fall of 2017. Within the last few years, high schools have also started exploring ways to add remote learning options, including dual-enrollment courses in partnership with local community colleges. Although the majority of these courses were offered solely on the high school campus, recent NCES…

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Technology and ethics in the coronavirus economy

The last two decades have ushered in significant change and transformation. I believe the 2020s will be dispositive in redefining the pillars of our economy, and COVID-19 magnifies this greatly. As of this writing there are 3,611,394 confirmed cases, and the U.S. accounts for 33% of those. We are now dealing with a 4.8% Q1 GDP contraction and expectations for Q2’s shrinking runs into the 25% range, more than 30 million unemployed and a $7 trillion federal intervention — in a span of six weeks. Eric Schmidt recently predicted that…

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