SBI Offers YONO To All
The following is today’s most important news for one’s personal finances:
SBI is opening up its YONO app to users of other banks so that it may compete directly with Paytm and PhonePe. This move is intended to offer SBI a competitive advantage. Customers of other financial institutions are able to utilize YONO SBI to perform UPI transactions and scan any QR code. The most recent move by SBI constitutes a direct challenge to other fintechs. This may have an effect on the market share held by companies such as Paytm and Phone Pe. This may also have an effect on the performance of Paytm share prices.
These financial institutions offer complete financing for Ather Energy E2Ws.
Ather Energy’s electric scooters have recently become more reasonably priced. Consumers can acquire a loan of up to 100% of the purchase price on an Ather Energy two-wheeler from a number of different financial organizations. IDFC First Bank, HDFC Bank, ICICI Bank, Bajaj Finance, Axis Bank, Hero FinCorp, and Cholamandalam Finance are the names of these financial organizations. Customers who purchase electric scooters from Aether Energy can currently take advantage of loan tenures of up to 5 years. Customers will be able to enjoy riding scooters that are both environmentally friendly and economical thanks to loans of up to 100% of the purchase price.
Ola promises to conduct a test drive of the S1 Air later this month.
Later in this month, Ola will introduce the Ola S1 Air, which will be its most reasonably priced electric scooter. An individual charge of the electric scooter will provide a range of 125 kilometers. The owner will be able to reach a maximum speed of 85 kilometers per hour when operating it. Despite this, customers who buy electric two-wheelers in India will receive less of a subsidy than they did in the past because the Indian government has lately cut the amount of money it will give them.
Investors in cryptocurrencies are eligible for a discount of Rs 3,500 on airplane tickets.
Taxpayers who use the largest online tax filing platform in India, Cleartax, would receive a discount on their plans of up to 55% if they file their ITR via Cleartax. If the tax payer has made earnings from cryptocurrencies, then he will be eligible to receive a discount on flight tickets bought through the travel site Ixigo of up to 3,500 rupees. Freelancers, attorneys, and medical professionals who file their ITRs through Cleartax are eligible to receive a discount of up to 5,000 rupees on hotel bookings made through Yatra.
In addition, tax filers will receive a one-time discount on orders placed through Swiggy Gourmet equal to 175 rupees. Cleartax has formed strategic alliances with Swiggy, Yatra Hotels, and Ixigo to include rewarding features into their online tax filing platform. Only taxpayers who use the Cleartap platform to submit their tax returns will be eligible to get these incentives.
The average ticket price for SIP accounts is Rs 2,214.
The average size of the portfolios held by individual investors in their SIP accounts has now surpassed 1.2 lakh rupees. This marks the highest point reached since November of 2021. The country as a whole has a total of 6.7 crore (6.7 million) SIP accounts. In June of 2023, the typical amount of money that individual investors put into their SIP accounts was 2,214 rupees. In the past five years, ticket sizes have become smaller. In just as many years, it has dropped by 49%. On the other hand,
the number of SIP accounts has continued to rise. This indicates that individual investors are investing in large numbers in the stock market through the use of the SIP route. However, they put away approximately 2,000 rupees each month into investments. The robustness of the market is due in large part to the enormous engagement of retail investors. The market has been made more resilient because to the investments made by domestic institutional investors (DII) and smaller investors.
The starting pricing for the Infinix Hot 30 5G is Rs 11,499.
The 18th of July will mark the beginning of Infinix, a smartphone manufacturer located in China, initiating sales of its Hot 30 5G smartphone series on Flipkart. The smartphone has a starting price of 11,499 rupees for the most basic model. The reasonably priced smartphone has a back camera with 50 mega pixels, a screen of 6.7 inches, a front-facing camera with 8 mega pixels, C-type fast charging, and a battery with 6,000 milliampere hours. The most basic configuration comes with 4 GB of RAM and 128 GB of storage space.
Tesla will not receive a duty waiver, according to the revenue secretary.
Sanjay Malhotra, India’s Revenue Secretary, has stated that the government is not considering providing duty waivers to the electric vehicle manufacturer Tesla Inc. despite recent rumors that the government of India is in discussions with Tesla Inc. to establish a plant in India. According to sources from the market, Tesla has reportedly made a proposal to the Indian government to manufacture 5 lakh electric vehicles on an annual basis in India, for which it has requested duty waivers. This proposal was reportedly made after the company requested duty waivers. However, the Secretary of Revenue has stated that the largest electric vehicle (EV) manufacturer in the world will not be granted a duty exemption.
Senco Gold has had a successful debut on the bourses.
On Friday, shares of jewelry retail player Senco Gold had a successful first day of trading on the market. The stocks were offered at a premium of 36% when they were listed. The initial public offering (IPO) price was 317 rupees. The first public offering (IPO) of Senco Gold has 73 times the normal number of subscribers. Friday’s trading session ended with the share price at 404 rupees. The current price represents a premium of 27% over the initial offering price.
Patanjali Foods’ initial public offering receives an oversubscription from retail investors
Both individual and institutional investors placed orders that were greater than what was available during Baba Ramdev’s share sale of Patanjali Foods. In the course of the two-day offer for sale, Baba Ramdev was successful in selling more than 72 lakh shares of the leading FMCG company. The minimum price per OFS share was set at one thousand rupees. Within the OFS, the equities may be purchased at a discount of 16%. On the BSE, the price of the counter finished the trading day at 1224 rupees each.
