Aadhaar card

Recently, most people were updating or linking their mobile number by using the Service Update Portal (SSUP) or by paying a visit to the local Permanent Enrolment Centre for the Aadhaar enrolment centre. 

New Delhi: Life Insurance Corporation (LIC) of India offers a slew of investment schemes for Indians providing impressive returns and security on invested money. In such a scheme aimed at making Indian women self-reliant and self-reliant, LIC is offering a chance to grow money in a snap. Women aged anywhere between 8 to 55 years can invest in the scheme named Aadhar Shila. Investors can start investing in the scheme with an amount as little as Rs per day to get roughly around Rs 4 lakh at the time of maturity. 

Besides assured returns on your investments, LIC is also offering protection coverage in the plan. For instance, if the investor dies before maturity, then the state-owned insurer offers financial assistance to the family. In the LIC Aadhar Shila scheme, the minimum sum assured is Rs 75,000 while the maximum is Rs 3,00,000. 

Women investors can invest in the scheme for a minimum term of 10 years to a maximum term of 20 years. Investors will need Aadhar Card to open an account in the LIC Aadhar Shila scheme, which is a guaranteed return endowment plan. Interested people can start investing in the scheme by contacting a LIC agent or visiting a nearby branch. 

How to get Rs 4 lakh on maturity? 

For growing your investment to roughly around Rs 4 lakhs, women investors will have to start investing Rs 10,959 a year along with 4.5% tax for straight 20 years. On a daily basis, your saving will stand at around Rs 29 per day. Also Read: Gold Price Today, 11 July 2021: Gold cheaper by Rs 8300 from record highs, right time to buy?

In the next 20 years, you’ll end up paying Rs 2,14,696 to LIC. However, on maturity, LIC will return you Rs 4 lakh for your investment. Investors can choose to pay their premiums on monthly, quarterly or half-yearly basis. Also Read: India poised for double-digit growth, disinvestment climate looks better: Niti VC

New Delhi: With India’s story remaining “very strong”, the economy will register a double-digit growth in the current fiscal and the disinvestment climate also looks better, said Niti Aayog Vice Chairman Rajiv Kumar.

He also asserted that the country is prepared in a far better manner in case there is a COVID wave as states have also their own lessons from the previous two waves.

“We are now hopefully getting past our (COVID-19) pandemic… And the economic activities will be strengthened as we get into the second half of this (fiscal) year given what I have seen for example various indicators, including the mobility indicators,” Kumar told PTI in an interview.

The Indian economy has been adversely impacted by the coronavirus pandemic and the recovery has been relatively sluggish in the wake of the second COVID wave.

Against this backdrop, the Niti Aayog Vice Chairman exuded confidence that the economic recovery will be “very strong” and those agencies or organisations which have revised their GDP estimates downwards for this fiscal may have to revise them upwards again.

“Because, I expect India’s GDP growth this (fiscal) year would be in double digits,” he said.

The economy contracted by 7.3 per cent in the financial year ended March 31, 2021.
Among rating agencies, S&P Global Ratings has cut India’s growth forecast for the current fiscal to 9.5 per cent from 11 per cent earlier, while Fitch Ratings has slashed the projection to 10 per cent from 12.8 per cent estimated earlier. The downward revisions were mainly due to slowing recovery post second COVID wave.

Indicating the possibility of a strong rebound, the Reserve Bank has pegged economic growth at 9.5 per cent in the current fiscal that ends on March 31, 2022.

Asked when private investments will pick up, Kumar said in some sectors like steel, cement and real estate, significant investment in capacity expansion is happening already.

In the consumer durable sector, it might take longer because consumers might feel a little hesitant due to uncertainty on account of the pandemic, he said. “Full-fledged private investment recovery, we should expect by the third quarter of this (fiscal) year”.

Responding to a query on concerns over a possible third COVID wave, Kumar said the government is much better prepared in case such a situation comes up.

“I think the government is far better prepared now to face the third COVID wave, if at all it does come up… I feel the impact of the third wave on the economy will be much weaker than it was during the second wave and the beginning of the first wave,” he said.

According to Kumar, the government’s preparation is very significant and also the states have learned their own lessons.

Recently, the government announced an additional Rs 23,123 crore funding, mainly aimed at ramping up health infrastructure.

On whether the government will be able to achieve its ambitious disinvestment target this fiscal, Kumar said that despite the second COVID wave and its significant impact on the health side, markets have remained buoyant and they touched new heights.

“I think this sentiment not only will continue but it will strengthen as we go forward… India story remains very strong especially with respect to the FDI which has now created a new record both for 2020-21 and between April to June in 2021-22,” he said.

Pointing out that a good number of IPOs of startups are lined up, he said,”the climate for disinvestment is looking better and I am very hopeful that the disinvestment target would be fully realised.”

The government has budgeted Rs 1.75 lakh crore from stake sales in public sector companies and financial institutions. Achieving the target will be crucial for the government’s finances which have been stressed due to the pandemic and resultant increase in spending activities.

When asked about the option of the government issuing COVID bonds to raise money, Kumar said, “Well give it whatever names you like, the point is that if the government needs to borrow more money for expanding capital expenditure, it could go ahead because that will attract more private investments”.

He noted that the government should issue bonds, whether these are COVID bonds or infrastructure bonds, the name is not so material, and pointed out that bond yields have not risen despite the higher borrowing requirements of both the central and state governments.

“This means that there is an appetite for government borrowings and the deficit would be financed without much difficulty,” he said.

Making a case for stepping up borrowing, Kumar mentioned about agencies like the IMF, the World Bank and the ADB recommending that one should not worry too much about the size of the deficit because of the special circumstances the pandemic has created.

According to the 2021-22 Budget, the government’s gross borrowing was estimated at Rs 12.05 lakh crore for this fiscal.

On high CPI and WPI inflation numbers, Kumar said that he does not want to second guess RBI here and he would leave it to them.

“RBI’s Monetary Policy Committee (MPC) minutes and as well as their announcements have made it very clear that at the moment inflationary expectations are not entrenched at high level. Also Read: Bank alert! IFSC codes of THESE banks have changed, here’s how you can get new ones

“And that this is perhaps a temporary phenomenon and we will go back to inflation level within the target range of RBI,” he said. Also Read: Gold Price Today, 11 July 2021: Gold cheaper by Rs 8300 from record highs, right time to buy?

New Delhi: Gold prices have been dropping in the last few weeks. Trading for gold September futures last week ended at Rs 47,920 per 10 gram on the Multi Commodity Exchange (MCX), a massive from June prices. 

In June, gold September futures were trading at around Rs 49,000. So, in July, gold is selling cheaper than the last few months, offering a wonderful opportunity to investors to invest in the yellow shining metal. 

As far as the major cities are concerned, the 24-carat gold is currently selling at Rs 47,810 while the 22-carat gold is retailing at Rs 46,800 per 10 gram in Delhi. In Mumbai, the 22 carat gold per 10 gram is selling at Rs 46,800. Meanwhile, the 24-carat gold per 10 gram is selling at Rs 47,800 per 10 gram in the financial capital of India. 

In Kolkata, the 22-carat gold is selling at Rs 47,200 per 10 grams while the 24-carat gold is retailing at Rs 49,900. 

Gold prices in Indian cities:

City         22-carat gold price         24-carat gold price 

Bangalore        Rs  44,750                    Rs  48,820

Hyderabad       Rs  44,750                    Rs  48,820

Pune                Rs  46,800                    Rs  47,800

Jaipur              Rs  46,910                    Rs  50,960

Lucknow         Rs  46,910                    Rs  50,960

Patna               Rs  46,800                    Rs  47,800

Chandigarh      Rs  46,910                    Rs  50,960

Surat               Rs  47,150                    Rs  49,150

– The data is sourced from Good Returns.

Gold selling cheaper by around Rs 8300 from record highs

In 2020, stock markets around the world crashed amid fears of COVID-19 led economic downturn. The crash led investors to flock to invest in safer instruments such as precious metals, which led to an increase in the prices of gold due to strong demand. Also Read: Good news! Contractual employees of THIS state to get bumper bonus

In August, the gold prices per 10 gram reached their record levels of Rs 56,191 per 10 grams on MCX. This means that gold is currently selling cheaper by Rs 8300 from record highs. Also Read: Bank alert! IFSC codes of THESE banks have changed, here’s how you can get new ones

New Delhi: Banking customers are facing issues related to net banking and online money transfer because the IFSC (Indian Financial System Codes) of many banks have been changed due to the recent mergers of several state-owned lenders. Banks have been advising their customers to use the new IFSC codes that have replaced the older ones which are no longer valid for online transactions via NEFT, RTGS or IMPS. 

State-owned banks which have recently merged include Syndicate Bank, Allahabad Bank, Dena Bank, United Bank of India, Vijaya Bank, the Oriental Bank of Commerce, Andhra Bank and Corporation Bank. 

Bank customers with accounts in these banks need to use their updated IFSC codes for online transactions. You can easily get the IFSC codes from the merged bank’s website of customer support. 

You can register for the new IFSC codes via the bank’s website. You will have to fill in the required details to get the new IFSC code. You can also reach out to the bank’s toll-free numbers to get the details. Moreover, customers can also visit their nearby bank branches to update their IFSC details. 

Meanwhile, if you’re transferring money to a bank that has been merged then ensure that you’re using the updated IFSC codes. Using the old IFSC codes that are no longer valid will result in failed transactions. Also Read: Good news! Contractual employees of THIS state to get bumper bonus

The rule is applicable to mobile banking customers as well. Notably, finance Minister Nirmala Sitharaman had announced the merger of 10 state-owned lenders in August 2019 into four banks. Also Read: Twitter names Vinay Prakash as Resident Grievance Officer for India

NHM

The one-time loyalty and experience-based bonus will be credited to contractual personnel who have completed three to five years of service with NHM on March 31, 2021.

New Delhi: The Reserve Bank of India (RBI) has directed banks to send important staff on a minimum of 10 days of surprise leaves. RBI’s motive behind sending a select staff on leaves for a few days is to tighten the noose on its risk management guidelines, aiming to reduce the number of bank frauds in India. 

Moreover, RBI has also asked banks to ensure that the employees sent on special leaves don’t have any access to banking operations via any physical or virtual resources during the holidays. 

“Banks shall ensure that the employees, while on mandatory leave, do not have access to any physical or virtual resources related to their work responsibilities, with the exception of internal/ corporate email which is usually available to all employees for general purposes,” RBI said in its notification. 

However, this is not the first time when RBI had directed banks to send its employees on special leave to increase the scrutiny on bank’s operations to tame the rising number of frauds. Previously, RBI came up with a similar advisory in April 2015. 

Who will get special holidays? 

According to an RBI notification, only a few bank employees in sensitive positions will be sent on special leave. “Employees posted in sensitive positions or areas of operation shall be compulsorily sent on leave for a few days (not less than 10 working days) in a single spell every year, without giving any prior intimation to these employees, thereby maintaining an element of surprise,” the RBI’s notification read. Also Read: Petrol, Diesel Prices Today, July 11, 2021: Petrol above Rs 100 in metros, check rates in your city

All the banks will have to follow the revised RBI instructions within six months. RBI has also asked banks to decide which employees fit the bill under mandatory leave requirements at their board meeting. Also Read: G-20 finance ministers back plan to stop use of tax havens

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New Delhi: Top finance officials representing most of the world’s economy have backed a sweeping revision of international taxation that includes a 15% global minimum corporate levy to deter big companies from resorting to low-rate tax-havens. Finance ministers from the Group of 20 countries endorsed the plan at a meeting Saturday in Venice.

US Treasury Secretary Janet Yellen said the proposal would end a ‘self-defeating international tax competition’ in which countries have for years lowered their rates to attract companies. 

She said that it had been a race that nobody has won. “What it has done instead is to deprive us of the resources we need to invest in our people, our workforces, our infrastructure?”

The next steps include more work on key details at the Paris-based Organization for Economic Cooperation and Development and then a final decision at the Group of 20 meeting of presidents and prime ministers on Oct. 30-31 in Rome.

Implementation, expected as early as 2023, would depend on action at the national level. Countries would enact the minimum tax requirement into their own laws. Other parts could require a formal treaty. The draft proposal was approved July 1 in talks among more than 130 countries convened by the OECD.

Italy hosted the finance minister’s meeting in Venice because it holds the rotating chair of the G-20, which makes up more than 80% of the world economy. The event also attracted around 1,000 protesters under the banner ‘We Are The Tide,’ an umbrella group of environmental and social justice activists, including opponents of large cruise ships and the hordes of tourists they bring to the lagoon city. A small group scuffled Saturday with police after breaking away from an approved demonstration area.

The U.S. already has a minimum tax on overseas earnings, but President Joe Biden has proposed roughly doubling the rate to 21%, which would more than comply with the proposed global minimum. Raising the rate is part of a broader proposal to fund Biden’s jobs and infrastructure plan by raising the domestic corporate tax rate to 28% from 21%.

Yellen said she was ‘very optimistic’ that Biden’s infrastructure and tax legislation will include what ‘we need for the United States to come into compliance’ with the minimum tax proposal.

Republicans in the Congress have expressed opposition to the measure. Rep. Kevin Brady of Texas, the top Republican on the tax-writing Ways and Means Committee, has blasted the OECD deal, saying, “This is an economic surrender to China, Europe and the world that Congress will reject.”

The international tax proposal aims to deter the world’s biggest firms from using accounting and legal schemes to shift their profits to countries where little or no tax is due and where the company may do little or no actual business. Under the minimum, companies that escape taxes abroad would pay them at home. That would eliminate incentives for using tax havens or for setting them up.

From 2000-2018, U.S. Companies booked half of all foreign profits in seven low-tax jurisdictions: Bermuda, the Cayman Islands, Ireland, Luxembourg, the Netherlands, Singapore and Switzerland.

A second part of the tax plan is to permit countries to tax a portion of the profits of companies that earn profits without a physical presence, such as through online retailing or digital advertising. That part arose after France, followed by other countries, imposed a digital service tax on U.S. Tech giants such as Amazon and Google. The U.S. Government regards those national taxes as unfair trade practices and is holding out the threat of retaliation against those countries’ imports into the U.S. Through higher import taxes. Also Read: Petrol, Diesel Prices Today, July 11, 2021: Petrol above Rs 100 in metros, check rates in your city

Under the tax deal, those countries would have to drop or refrain from national taxes in favor of a single global approach, in theory ending the trade disputes with the U.S. Tech companies would then face only the one tax regime, instead of a multitude of different national digital taxes. Also Read: Delhi Metro update: Services on Pink line to be affected from July 12-15

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New Delhi: Petrol and diesel prices remain unchanged on Sunday (July 11) after increasing by a few paise on July 10. Yesterday, petrol and diesel prices breached the Rs 100 mark in a few more cities and towns across the country. At present, petrol is retailing at Rs 100.91 per litre after the prices shot up by 35 paise on July 10 while diesel is retailing at Rs 89.88 after a hike of 26 paise on Saturday. 

So far, July has witnessed seven price revisions within 11 days. Notably, there were a total of 16 revisions in the prices of petrol and diesel in May and June each. 

Petrol prices have recently crossed the Rs 100 mark in Delhi. With the past few revisions, petrol prices have shot up above the Rs 100 mark in 18 states and union territories, including Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu and Kashmir, Odisha, Ladakh, Tamil Nadu, Punjab, Sikkim, West Bengal and Nagaland. J&K, Bihar, Delhi and Kerala are the latest states and union territories that have joined the list. Also Read: Delhi Metro update: Services on Pink line to be affected from July 12-15

In Mumbai, petrol prices have been increasing to record highs with every revision. At present, petrol is selling at Rs 106.93 per litre while diesel is retailing at Rs 97.46 per litre in the city. Also Read: Planning to vaccinate 100 per cent population of Dharavi in next 2-3 months: Shiv Sena MP

Petrol and diesel prices in metro cities: 

City             Petrol prices             Diesel prices

Kolkata:          Rs 101.01             Rs 92.97 

Chennai         Rs 101.67             Rs 94.39 

Bengaluru:         Rs 104.29             Rs 95.26 

Hyderabad:         Rs 104.86             Rs 97.96

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Mahindra vehicles will be costlier from now onwards as the company has increased the prices of almost all the models in its lineup. This price hike is the third time that the company has raised its prices in 2021. Previously, the price hike happened in January and then in May.

Mahindra Thar’s price has increased by Rs 1 lakh. The hike remains between Rs 42,300 to Rs 1,02,000. Meanwhile, the customers will have to shell out more, which is Rs 67,000 for its AX versions; the cost of the LX versions, both petrol, and diesel engines have now increased by Rs 42,000 to more than Rs 1 lakh.

Also, the prices of Mahindra Alturas G4, KUV100 NXT and XUV500 have been revised with a little hike. Mahindra XUV500’s price has increased from Rs 2,912 to Rs 3,188, depending upon the variant. Meanwhile, the price of KUV100 NXT has surged from Rs 3,016 to Rs 3,344. The Alturas G4 price increased by Rs 3,094 across both the 2WD and 4WD variants.

The selective variants of SUV Mahindra XUV300 have also seen a price hike. The models such as the W8 and W8(O) with manual transmission and petrol powertrain have seen a price hike of Rs 18,970 and Rs 24,266, respectively. 

The diesel variant of the SUVs such as W4, W8, W8(O), and W8(O) AMT has also become dearer by Rs 3,708 to Rs 23,870. Now the Mahindra Bolero price has surged from Rs 21,000 to Rs 22,600.

Meanwhile, Marazzo MPV, which comes in three variants M2, M4 Plus, and M6 Plus, has also seen a price rise by Rs 26,000 to Rs 30,000 on selective variants. The Mahindra Scorpio price remains the same.

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Are you facing issues with net banking or online bank transfer? It is important to note that with the recent mergers between many public-sector banks, many bank account holders will be asked to delete their old IFSC codes (Indian Financial System Codes) and instead get a new one.

If you see that your bank belongs to those listed in the mergers, the old IFSC codes will remain invalid for online transactions through NEFT, RTGS or IMPS routes.

Syndicate Bank, Allahabad Bank, Dena Bank, United Bank of India, Vijaya Bank, the Oriental Bank of Commerce, Andhra Bank and Corporation Bank are those public sector banks whose mergers have already been announced. Due to this, the account holders in these banks will be asked to update their IFSC codes on the web portal to continue availing online banking facilities. 

Here’s how to change the IFSC of your bank branch:

In order to change your IFSC code,  you have to go to the official website of your bank and register for the new IFSC codes by filling in your details again. Customers can also call the toll free number of banks so that they have a clear understanding of the process.

If you are looking to make a bank transfer to account holders of one of these banks, you will have to delete the beneficiary details from the list of payees and add it again under the new conditions.

These rules apply also when it comes to mobile banking. Customers are advised to reach out to their respective banks for further details. Failure to make these changes would result in the non-conduction of any monetary transactions.

In August 2019, Finance Minister Nirmala Sitharaman had announced the merger of 10 public sector banks into four banks. As such, Syndicate Bank was merged with Canara Bank, Indian Bank with Allahabad Bank, Union Bank of India with Andhra Bank and Corporation Bank, and Vijaya Bank and Dena Bank were taken under the Bank of Baroda.

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In what could be seen as a piece of good news for Central Government employees and pensioners, the Dearness Allowance (DA) increase for July 2021 is expected to get a go-ahead soon. According to a report, the government will soon announce the development. 

Meanwhile, the AICPI (All India Consumer Price Index) data for January 2021 to May 2021 has been released, and based on the above-mentioned data, the DA hike for July 2021 should be around 3 percent. 

This further means that the 3 percent DA hike is supposed to be added to the actual Dearness Allowance and that will happen in September. Presently, the employees receive 17 percent DA and the DA for the month of July will also be added in the month of September. 

Earlier, 4 percent, 3 percent, and 4 percent DA were supposed to come but it got delayed due to the COVID-19 pandemic. As per the AICPI data, it is expected to have a hike of 3 percent, and that DA would further be added which means that central government employees will get 31 percent DA in September 2021.   

The AICPI data released in the month of May 2021 brought an increment of 0.5 percent, taking it to 120.6.  According to the secretary of the National Council of JCM, Shiv Gopal Mishra, the data suggests that DA may get increased by 3 percent by June 2021. The June data is not official yet and it is therefore anticipated that the DA hike will not be more than 4 percent for the month of June 2021. If that becomes the reality, then the AICPI data should be 130 points. With the June 2021 DA, the central government employees would get only 31 percent DA in September.  

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A report released by Gera Developments revealed that almost all the new residential property launches in Pune have seen a downfall by 30 percent due to restrictions imposed following the second wave of the COVID-19 pandemic. The available inventory for sale plunged to a 9-year low. Reasons for the decline in saleable inventory is robust sales but lack of new supply to replace the sales. For every 100 units sold only 59 units were added, according to the Gera Pune Residential Realty Report that was released on July 7.

According to the report, H1 2021 saw a fresh supply of 26,611 units which is 26 percent higher than H1 2020. However, sequentially it has come down by around 30 percent compared to H2 of 2020, it said.

Compared to pre-COVID times, it is still half of what it was in December 2019 just before COVID-19 hit the country. This clearly suggests a supply squeeze prevailing in the Pune residential real estate space. In fact, comparing the period from January 2020 to June 2021 against the corresponding period, there is a reduction of 39% in new inventory being added to the market, the report said.

Inventory levels plunged to a 9-year low in June 2021. According to the report, the inventory available for sale has also reduced to 59,224 units, a reduction of 21% from 75,421 units a year ago.  The total number of ongoing projects has also dropped significantly from a peak of 3,733 projects in Jun 2017 to 2,730 in Jun 2021.

According to the report, new projects launched over a 12-month period since June 2020, the premium segment has seen a whopping 64% surge from 13,199 units to 21,634 units. The premium segment typically comprises an average price per square feet of Rs 4,898 to Rs 5,876. On the other hand, the budget segment (average price of less than Rs 3,917 per square feet), which saw a 34% drop in the new project launches in the past year i.e. since June 2020.

The new supply dropped from 23,390 units to 15,469 units. Clearly, there is an evident shift in the customer preference migrating to more premium homes. Comparing the launch of premium segment properties since 2018, there is certainly a reduction in the fresh launches thanks to the COVID-19 pandemic.

“The market has been in an ongoing state of consolidation. With the number of new project launches declining, the unsold inventory has plunged to a seven-year low. Going forward, we believe that the price rise seen in the past one year will gain further momentum.  The surge in residential real estate prices will be due to a decline in adequate inventory to meet the growing demand. Whenever demand outstrips supply, prices tend to go up,” Rohit Gera, Managing Director, Gera Developments has said.

“With new project launches at unprecedented lows, the robust demand will face supply-side bottlenecks. This has already propelled a 3.73 percent surge in property prices on an average, over the past 12 months. However, as new project launches firm up, the prices, while maintaining their upward bias, will stabilize in the medium term,” Gera added.

He further revealed that there was an increase in the cost for developers. “In addition to the supply crunch, there is a tremendous increase in the cost structures for developers. The last 15 months have seen slower construction and project launches and as a result, the overhead costs for developers have increased. More significantly, the cost of several raw materials including the most critical items such as cement and steel has risen by 25-40 percent,” he said.

Sales grow by 7 percent

Against the first half of 2020, there is a clear 7% increase in off-take for new homes in the corresponding period of 2021. However, as compared to H2 of 2020, sales have declined by 9%. Sales had bounced back to pre-COVID levels soon after the first wave; which was primarily driven by the two-tiered stamp duty waiver extended by the state government, that incentivized new home buyers. However, the momentum slowed soon as the second wave hit.

During this period, the strongest growth however is seen in the premium segment, in which a robust 54% growth is seen, suggesting customers’ demand for more aspirational homes.

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New Delhi: Jeep is planing to enter the world of electric vehicles with its Cherokee 4xe plug-in hybrid. The automaker has unveiled the first glimpse of the 2022 Jeep Grand Cherokee 4xe plug-in hybrid. 

Showcasing the first glimpse of the Grand Cherokee, Jeep says it plans to have a zero-emission model in every SUV segment by 2025. Jeep maker Stellantis is a little late to the global electric vehicle party, but on Thursday it pledged to catch up and pass its competitors.

CEO Carlos Tavares says that by 2025, 98 per cent of its models in Europe and North America will have electric versions. He says the company that combined Fiat Chrysler and Peugeot is developing four electric vehicle platforms with ranges from 500 kilometers (311 miles) to 800 kilometers (497 miles).

The models include a fully electric Ram pickup and Jeep Grand Cherokee, as well as small cars. There even will be an electric Dodge muscle car.

The company says it will use its electric commercial vehicle expertise from Europe to build EV models worldwide.

Tavares says Stellantis will spend no less than 30 billion euros (USD 35.6 billion) over the next five years on EVs. It will build five battery factories in the U.S. And Europe.

Stellantis says the Opel brand will go fully electric in Europe by 2028, with 100per cent of its vehicles in China being electric. It will bring back the Manta sports car with a fully electric version by the middle of the decade. Also Read: Bitcoin Scam Alert: THIS fake Elon Musk-linked Starlink website dupes innocent internet users

The company is unveiling its electric vehicle plans with a trans-Atlantic webcast on Thursday. Also Read: Beware of fraudsters! UIDAI warns against Aadhaar card verification scam

– With inputs from PTI. 

There are several frauds that are related to Aadhaar cards. Fraudsters are looking to steal Aadhaar Card IDs to either extract money or to take advantage of so many services that can be availed on its basis. To stay safe, it is important to cross-check their Aadhaar card immediately and besides that, they should not accept any such card from anyone as identity proof without first verifying it.

In this regard, UIDAI took to Twitter to make people aware of it and tweeted an alert that everyone should follow. The tweet read, “#BewareOfFraudsters Any Aadhaar is verifiable online/offline. To verify offline, scan the QR code on #Aadhaar. To verify online, enter the 12-digit Aadhaar on the link: https://resident.uidai.gov.in/verify.” For those who want to do it via an application, there is another option available. UIDAI tweet said, “You can also do it using the #mAadhaar app.”

Besides that, UIDAI also said that if anyone is facing, then they should contact the telephone numbers that are revealed on the graphic. The legend on the graphic says “For any assistance/query: Call 1947 (Toll-free) or email at help@uidai.gov.in” Also, it has given the social media credentials so that people can be updated about the latest news on the issue.

On July 8, UIDAI through another tweet warned everyone about not accepting any Aadhaar card without cross-checking it first. The tweet read, “All 12-digit numbers are not Aadhaar. It is recommended that the Aadhaar should be verified before accepting it as identity proof.”

It further said, “Click: https://resident.uidai.gov.in/verify and verify it online in 2 simple steps.”

Here’s how to easily verify an Aadhaar card online from the comfort of your home:

1. Visit official UIDAI website – https://resident.uidai.gov.in/verify

2. Type in the 12-digit Aadhaar card number very carefully.

3. Type in the Captcha.

4. ‘Proceed to Verify’ option will open. Click on it

The Aadhaar card can then be authenticated by the system or rejected depending on its status.

 

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New Delhi: Public Provident Fund or PPF scheme is one of the most secure investments which offers impressive returns to investors. However, if you’re planning to turn your little investments into something big, then you need to have a little patience if you’re planning to put your money in Public Provident Fund. The investment scheme is for long-term investors, and becoming a crorepati by investing in PPF needs a serious patience level. 

An investor will have to invest roughly around Rs 1.5 lakh in a year, which is around Rs 12,500 per month for a really long time to turn your investment into one crore rupees, and for you to become a crorepati. 

At present, the government gives an annual interest of 7.1% on the PPF account. Investment in the scheme is made for a minimum of 15 years. So, if you invest Rs 12500 a month for 15 years, it will turn into Rs 40,68,209 at the time of maturity. The total investment would stand at Rs 22.5 lakh and interest at Rs 18,18,209.

However, instead of withdrawing the funds, an investor can continue investing in the PPF scheme for ten more years to become a crorepati. In the next five years after maturity, your investment will turn into Rs 66,58,288. And in the next five years, which means after 25 years after you start investing in PPF, your investment will finally turn into Rs 1,03,08,015. Also Read: Nokia sues OPPO over patent infringement, Chinese brand hits back

So, you’ll be a crorepati in 25 years if you invest Rs 12,500 per month in the PPF scheme. Also Read: Gold Price Today, 10 July 2021: Gold selling at Rs 47,810 in Delhi, check prices in your city

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New Delhi: Adding to the rising fuel and food costs, Mother Dairy, announced that milk will get costlier by Rs. 2. The news comes after Amul had announced a similar hike earlier in the month. The new prices will be applicable from Sunday onwards. 

The milk prices were last revised in December 2019.

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Mother Dairy in a justification of the price hike says that in the past year, dairy farmers have increased the price of milk by 8-10% aside from that other operational costs of processing, packaging and logistics have also risen. 

Mother Dairy said it is “compelled to raise its liquid milk prices by Rs 2/litre in Delhi NCR with effect from July 11, 2021”, said a PTI report. 

Mother Dairy milk is available in over 100 cities across the country. Prices are also being revised across key markets including east and central Uttar Pradesh, Mumbai, Nagpur and Kolkata from July 11 onwards to the tune of Rs 2/litre on the current prevailing MRP in respective markets, it added. It sells around 30 lakh litres of milk per day in Delhi-NCR, while the total sale is 35 lakh litre per day.

In its statement, Mother Dairy said, “The company has been experiencing inflationary pressure on the overall input costs which has increased multifold in last one year, accompanied by the distress in milk production due to the ongoing pandemic”.

“It is pertinent to note that the farm prices of milk alone have firmed up by about 4 per cent in the last 3-4 weeks. Despite paying higher prices towards milk procurement in the last one year, the consumer prices were kept intact. With this revision, the milk prices are undergoing a revision of 4 per cent,” Mother Dairy said.

Mother Dairy highlighted that it passes close to 75-80 per cent of the sales realisation from milk towards the procurement of milk. The company said it has always attempted to strike the right balance between the consumers and the milk producers.

“The surge in farm prices is only being partially passed on to the consumers, thereby securing the interests of both the stakeholders,” it added.

Revised Prices:

As per the revised prices, bulk vended milk (token milk) will be sold at Rs 44 per litre from Sunday as against the current price of Rs 42 per litre. Full cream milk (poly pack) will be available at Rs 57 per litre up from Rs 55 per litre now. Prices of toned milk has been revised to Rs 47 from Rs 45 per litre, while double toned milk (Live Lite) rates have gone up to Rs 41 from Rs 39 per litre. Cow milk will cost Rs 49 from Sunday as against Rs 47 per litre now. Rates of half litre milk pouch have been increased by Rs 1, which means an effective hike of Rs 2 per litre.

 

New Delhi: In the past few weeks, gold prices have been falling constantly. On Friday (July 9), the trading session for gold September futures ended at Rs 47,920 per 10 gram on the Multi Commodity Exchange (MCX). In June, gold prices had touched the Rs 49,000 mark, which means that gold is still trading a lot cheaper than recent rates, offering the right investment opportunity to the investors of the precious metal. 

In Delhi, the 24-carat gold per 10 gram is retailing at Rs 47,810. The 22-carat gold per 10 gram is retailing at Rs 46,800 per 10 gram in the national capital. The 22 carat gold per 10 gram and 24-carat gold per 10 gram are selling at Rs Rs 46,800 and Rs 47,800 per 10 gram in the financial capital of India. 

Meanwhile, in Kolkata, the 22-carat gold and 24-carat gold are retailing at Rs 47,200 and Rs 49,900, respectively. The 22-carat gold is selling at Rs 45,250 per 10 gram while the 24-carat gold per 10 gram is selling at Rs 49,370.  

Gold prices in Indian cities:

City         22-carat gold price         24-carat gold price 

Bangalore        Rs  44,750                    Rs  48,820

Hyderabad       Rs  44,750                    Rs  48,820

Pune                Rs  46,800                    Rs  47,800

Jaipur              Rs  46,910                    Rs  50,960

Lucknow         Rs  46,910                    Rs  50,960

Patna               Rs  46,800                    Rs  47,800

Chandigarh      Rs  46,910                    Rs  50,960

Surat               Rs  47,150                    Rs  49,150

– The data is sourced from Good Returns.

Gold cheaper by around Rs 9,300 from all-time high

Gold prices hit record highs in 2020. At that time, stock markets crashed due to fears related to COVID-19 led economic downturn. The price of gold per 10 grams reached its all-time high of Rs 56,191 per 10 grams on MCX in August 2020. Also Read: Sovereign Gold Bond subscriptions open on July 12: Buy gold at great prices for 5 days

Overall, in 2020, gold gave a 43% return. However, gold has so far declined by around 25% from its record highs. Also Read: Nokia sues OPPO over patent infringement, Chinese brand hits back

New Delhi: The Reserve Bank of India (RBI) is opening the fourth tranche of Sovereign Gold Bond Scheme 2021 for subscriptions on Monday (July 12) for five days. Investors planning to invest in gold can choose the option of the sovereign bond, as it is usually more affordable than current rates. RBI has fixed the issue price at Rs 4,807 per gram for the latest Sovereign Gold Bond offering. 

In an official announcement, RBI said, “The nominal value of the bond based on the simple average closing price (published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period July 07, July 08 and July 09, 2021, works out to Rs 4,807/- per gram of gold.” 

What are Sovereign Gold Bonds? 

The RBI had introduced Sovereign Gold Bonds in 2015. Basically, these bonds are similar to other government bonds. However, Sovereign Gold Bonds are denominated in grams of gold, instead of money. 

Who can buy Sovereign Gold Bonds? 

At present, Resident individuals, Hindu Undivided Family (HUF), Trusts, Universities and Charitable Institutions can subscribe to Sovereign Gold Bonds. 

What is the minimum investment in Sovereign Gold Bonds? 

According to the current rules, an investor has to buy at least one gram of gold during the subscription window. This means that you’ll invest at least Rs 4,807 in Sovereign Gold Bonds. 

Meanwhile, an individual investor can buy a maximum of 4 Kg gold. However, the upper cap limit for trusts and similar entities is 20 Kg. 

What is the minimum tenure of Sovereign Gold Bonds? 

Sovereign Gold Bonds are offered with a tenure of eight years. However, investors are given an option to exit after the fifth year itself. 

How to buy Sovereign Gold Bonds? 

Investors can buy gold bonds from commercial banks, Stock Holding Corporation of India Limited (SHCIL), post offices designated by RBI and recognised stock exchanges. Customers can buy gold bonds directly or even through their agents. Also Read: Facebook removed 5,381 malicious accounts, Groups in June 

How to get Sovereign Gold Bonds at a discounted price?

Investors can also invest in gold bonds online. RBI is offering a discount of Rs 50 per gram to investors buying bonds completely online. Also Read: SBI alert! Net banking services will remain suspended on July 10, 11, check timings

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New Delhi: If you are a State Bank of India (SBI) customer, then we have important news for you. SBI said that its net banking services will remain unavailable on July 10 and July 11 for a few hours. 

Besides net banking services, SBI customers won’t be able to use YONO, YONO Lite or UPI services as well. Taking it to Twitter, SBI urged its customers to bear with the bank as it aims to offer a better banking experience. 

“We request our esteemed customers to bear with us as we strive to provide a better Banking experience,” SBI’s tweet read. 

If you have to do any important transaction, then you should settle it immediately before the temporary suspension comes into effect. In its tweet, the SBI also notified the timings for the scheduled maintenance activities that will start from 10.45 pm on July 10 to 12.15 am on July 11. 

“We will be undertaking maintenance activities between 22:45 hrs on 10.07.2021 and 00:15 hrs on 11.07.2021. During this period, Internet Banking / YONO / YONO Lite / UPI will be unavailable. We regret the inconvenience caused and request you to bear with us,” SBI said. Also Read: BMW R 1250 GS, BMW R 1250 GS Adventure launched: Check price, features and details: In Pics

Meanwhile, SBI has appealed to its customers to keep changing their passwords continuously. The bank said that changing passwords is like a vaccine against the virus. Cybersecurity researchers of SBI customers have issued a warning regarding Chinese hackers who are using KYC tactics to conduct online fraud. Also Read: Mother Dairy increases milk price by Rs 2 per litre, check latest rates

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New Delhi: Mother Dairy has increased the prices of liquid milk by Rs 2 per litre in Delhi NCR. The latest revision in the prices will come into effect from Sunday (July 11, 2021). Prior to this, Mother Dairy had increased the prices of milk 1.5 years ago in December 2019. 

In the latest price hike, the rates of all milk variants are increased by Rs 2 per litre. Here are the new prices of all milk variants sold by Mother Dairy in Delhi NCR 

– Mother Dairy Token milk will now cost Rs 44 per litre. 

– Mother Dairy Full cream milk’s price has been increased to Rs 57 per litre

– Mother Dairy Toned milk will be retailing at Rs 47 per litre 

– Mother Dairy Full cream premium milk’s price will increase to Rs 31 per half litre

– Mother Dairy Double toned milk’s price has been revised to Rs 41 per litre

– Mother Dairy Cow Milk’s price will be selling at Rs 49 per litre from July 1

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New Delhi: Petrol and diesel prices were increased again on Saturday after a day of hiatus. With the latest revision, petrol and diesel prices have breached the Rs 100 mark in a few more cities. In Delhi, petrol prices were increased by 35 paise litre while diesel jumped by 26 paise in the national capital. On Saturday (July 10), petrol is selling in Delhi at Rs 100.91 per litre while diesel is retailing at Rs 89.88. 

This is the seventh hike within 10 days of July. In May and June, petrol and diesel prices were increased by 16 times in each month. Meanwhile, petrol prices in Mumbai have climbed uphill to Rs 106.93 per litre while diesel is retailing at Rs 97.46 per litre in the financial capital of India. 

At present, petrol prices are above the Rs 100 mark in all metro cities across the country. Petrol is currently selling at above Rs 100 in 18 states and union territories, including Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu and Kashmir, Odisha, Ladakh, Tamil Nadu, Punjab, Sikkim, West Bengal and Nagaland. Also Read: COVID-19 is not over yet, follow norms, protocols: Himachal CM Jai Ram Thakur urges tourists

J&K, Bihar, Delhi and Kerala are the latest states joining the list. On July 10, petrol prices in Jammu crossed the Rs 100 mark. Litre petrol is selling at Rs 100.21 in the winter capital of J&K. In Srinagar, the fuel was already selling at above Rs 100. Also Read: Pfizer, Moderna in discussions with India, trying to get solution on contractual issues: NITI Aayog’s VK Paul

Petrol and diesel prices in metro cities: 

City             Petrol prices             Diesel prices

Kolkata:          Rs 101.01             Rs 92.97 

Chennai         Rs 101.67             Rs 94.39 

Bengaluru:         Rs 104.29             Rs 95.26 

Hyderabad:         Rs 104.86             Rs 97.96

EPFO New Rules: During the pandemic, the government has made a welcome change for PF account holders. Medical emergencies can’t be foreseen, especially during this difficult time. Given the situation, PF account holders now need not worry about money. Learn what changes have been made

PF Rule Change

• Under the new rule, PF account holders can withdraw an advance of up to Rs. 1,00,000 from the PF account in case of a medical emergency.
• In this regard, the Employees’ Provident Fund Organization (EPFO) had issued a circular on June 1.
• The money can be withdrawn for any disease (not just coronavirus) after being admitted to the hospital in case of an emergency.
• According to the new rule, the employee or any member of his family will have to submit a letter applying for the advance.
• It is also necessary to furnish the patient and hospital information.

How To Withdraw Money

• The medical advance can be claimed by visiting epfindia.gov.in.
• On the website, go to ‘Online Services.’
• Here, you have to fill the claim (Form-31,19,10C and 10D).
• Now enter the last 4 digits of your bank account and verify.
• Click on ‘Proceed for Online Claim.’
• Select the ‘PF Advance’ option from the drop-down (Form 31).
• Select the reason for withdrawing money.
• Enter the required amount, upload the scanned copy of the cheque, and enter your address.
• Click on ‘Get Aadhaar OTP.’
• You will see an Aadhar-linked OTP here. Fill it.
• With this, the claim has been filled.

What Was The Old Rule?

• There was a facility to withdraw money from EPF at the time of a medical emergency. This money was received after submitting the medical bill.
• The Medical Advance Service is different from this. You will get money without the bill.
• You simply need to apply and the money will be transferred to your account within a few hours.

New Delhi: On account of the planned fiscal relief, monetary policy, and a speedy vaccination campaign, the Finance Ministry stated on Friday that the economy has started to show indications of recovery from the burden of the second wave of the Covid-19 pandemic. 

The Rs 6.29 lakh crore wide-ranging economic relief package was extended to combat the second wave. According to the ministry’s monthly economic assessment, the Reserve Bank of India (RBI) is continuing its efforts to ease market anxieties, restore sectors, and recover GDP.

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Finance Minister Nirmala Sitaraman proposed eight economic measures worth Rs 6.29 lakh crore last month to boost the economy and soothe the financial burden of the coronavirus outbreak and lockdown from the country. 

In addition to eight relief measures announced in the worst-affected sectors, Sitharaman also announced a stimulus package for the tourism industry, which included five lakh free tourist permits once the government begins issuing. The scheme will have a total financial impact of Rs 100 crore. 

The economic review for June predicted that consumer confidence would improve with higher employment backing under the Aatmanirbhar Bharat Rozgar Yojana (ANBRY). Moreover, the credit guarantee scheme for on-lending by microfinance institutions will help assist the urban poor along with Bharat-Net helping to provide wider internet coverage.   

“Maintaining a rapid pace on vaccination and quickly bridging health care infrastructure gaps across both urban and rural areas would emerge as the most sustainable stimulus for durable recovery of the Indian economy,” the report added. 

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On the other hand, it said that the package’s free food-grain and increased fertilizer subsidies, as well as ongoing MGNREGA implementation, will act as a shield for rural demand in the coming quarters. 

About global economic growth, it said this has continued its upward trajectory in June 2021. 

Nonetheless, it said that the resurgence of delta variant infections, firming inflationary pressures, unequal access to vaccination, and rising debt levels continue to lend substantial uncertainty to the global economic outlook.