Things to Keep in Mind Before Applying For Gold Loan And Personal Loan

Here are sure checkpoints to assist you with benefiting the ideal loan choice as far as cost and quick access:

Loan amount
The loan amount will basically rely upon your pay, tenure, the loan type, and the estimation of the pledges submitted assuming any. For instance, the loan amount in the event of a standard loan against a credit card will simply be the extent of your endorsed credit limit.
Be that as it may, many credit card backers have begun offering loans once again or more your credit limit. The loan amount if there should be an occurrence of ordinary personal loans can run between Rs 50,000 and Rs 40 lakh, contingent upon your reimbursement limit. On account of gold loan, the loan amount can go up to 75 percent of the estimation of the gold swore with the moneylender.
Processing time
As money related emergencies require snappy admittance to reserves, loans requiring longer turnaround time for disbursals may not end up being a lot of value. Loans against a credit card, gold loan, and personal loan have the speediest processing and disbursal among the different credit choices.
While loans against credit cards and gold loans are normally prepared around the same time of a loan application, a personal loan may take around 2 to 7 days for disbursals. In any case, a few moneylenders guarantee to dispense personal loans around the same time of utilization.
Interest rate
The interest rates of your financing choices will essentially rely upon the sort of loan you decide on and your credit profile. Typically, made sure about loans have lower interest rates than the unstable ones. Also, those with a decent credit score and utilized with presumed corporates have higher odds of benefiting loans at lower interest rates.
Processing charges
Gold loans accompany one of the most reduced processing charges among all loan choices. A few banks charge a level processing expense of as low as Rs 10 on their gold loans though others charge anyplace between 0.10 percent and 2 percent of the loan amount as a processing charge. Fullerton India processing fees is up to 6% of the whole loan amount. This is a one-time charge which will be obviously referenced in the loan understanding. This amount is the personal loan ROI for all the administrations including loan application, record confirmation, legitimate methods, client care, and different administrations engaged with processing the loan
Loan tenure
The tenure of your loan assumes a significant part in deciding your EMI and by and large interest cost. Longer tenure would mean lower EMI yet would prompt higher interest cost and the other way around. Personal loans and loan against credit cards typically accompany loan tenures of 1-5 years.
Fullerton India’s personal loan interest rates start at 11.99% for salaried and independently employed candidates for a limit of 60 months, which implies you can get EMI as low as ¹ 2,224* every month. The interest rates and processing charge (Between 0% – 6% of the loan amount) compensate for the complete cost of the loan.

SGX Nifty Indicates Positive Opening; IGL, Apollo Hospital to Report Today

Yesterday, Nifty opened to strong gains on vaccine news. It kept the momentum intact throughout the day and made higher highs and higher lows in the hourly chart to close above 12,600, holding solid gains. Volume was significantly higher than the previous day. Nifty is currently trading 6.0% and 8.7% above its 21- and 50-DMA, respectively. In the broader market, both Midcap and Smallcap failed to catch up with Nifty50 again. Midcap closed 0.3% higher, while Smallcap was down 0.1%.

On the sectoral front, barring Nifty Pharma (-4.3%) and Nifty IT (-3.9%), all other sectors closed in the green. Financial stocks continued to rally ahead and advanced the most for the day. Nifty Bank, Financial Service, PSU Bank, and Pvt Bank advanced in the range of 3.5–4.1%. Market breadth remained in favor of decliners. FIIs were in a continuous buying spree. FIIs’ net buying was Rs 5,627 crore, while DIIs’ net selling was Rs 2,309 crore.

Currently, we are in a Confirmed Uptrend and are open to adding new positions coming out of proper base formation. We will look for leadership among some good stocks to push the market up. On the flip side, tracking distribution days is crucial. Accumulation of distribution days can halt the uptrend.

Key News

Bata India reported Q2 FY21 results. Revenue came in ahead of estimates. It reported a loss of Rs 44 crore compared with a profit of Rs 71 crore in Q2 FY20. Margin contracted 2,060bps to 4.9%.

HIL Limited reported Q2 FY21 results. Its roofing business revenue grew 27% y/y. The flooring business revenue grew 11% y/y. The company repaid Rs 170 crore of debt in H1 FY20.

Tata Power reported Q2 FY21 results. PAT was up 9.6% y/y to Rs 371 crore, while revenue up 8% y/y at Rs 8,289 crore. EBITDA came in at 11.3% at Rs 2,001 crore. EBITDA margin came in at 24.1% compared with 29.4% y/y.

O’Neil Market Condition Report

For the 24 emerging markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 65%; Rally Attempt, 5%; Uptrend Under Pressure, 25%; Downtrend, 5%.

For the 24 developed markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 75%; Rally Attempt, 0%; Uptrend Under Pressure, 25%; Downtrend, 0%.

Buy watchlist: Cholamandalam Inv.& Fin., Dixon Technologies (India), Polyplex, Balaji Amines Limited, Alkyl Amines Chemicals, Subros, Berger Paints India, Polycab India, Voltas (Nse), Divis Laboratories (Nse) Vinati Organics, Ratnamani Metals & Tubes, Balrampur Chini Mls(Nse), Coromandel International, Tata Consumer Products, HIL Limited, and Whirlpool Of India (Nse)

How to find the best cryptocurrency exchange platform in 2021?

For better options, you need to decide whether your trading is long-term or just frequent changes in regular aspects. The right platform will help users to buy, sell, and trade their cryptocurrencies safe and at ease. Koinbazar – one of the best centralized p2p cryptocurrency exchange platform allows users to buy, sell, and trade their assets. And also it comes with a crypto wallet that helps to store your cryptocurrencies for a long term or frequent trading.

In this article, we will help in choosing the best platform as per your expectations. And also you will find the crucial factors to look up before selecting the best cryptocurrency exchange platform.

Important aspects to look for cryptocurrency or bitcoin exchange:

AML or KYC:

Every cryptocurrency exchange sites follow different laws. It depends on the offering, practices, and, locations of the cryptocurrencies such as BTC, ETH, and others. Some of the platforms demand KYC (Know Your Customer) or AML (Anti-Money Laundering process. These practices are proposed for the users to submit some of their personal information which is required for creating their account and performs the exchange process.

Reputation of the crypto exchange platform:

Cryptocurrency is a massive industry today and gaining a lot of reputation in the market. Before picking the crypto exchange platform, reputation is essential for considering it. Because, some of the exchange sites have resulted in scams, hacks, and others. Before choosing the platform, you need to do proper research about the website to make sure that it is highly reputed. From this, you will get to know about the efficiency of the platform. However, you can also check out the terms and conditions of all exchange platforms to ensure that there is nothing doubtful in it.

Security aspects:

Almost all exchange platforms offer high security that helps to keep your investments and trading process safe. You need to make sure that the exchange sites offer two-factor authentication or not. In addition to this, you also need to consider whether it is compatible with google authentication or not. Because you can ensure better security for your exchange platforms. There are several safety measures that you need to look at before investing in any of the exchange sites. Some other security aspects are SSL certification, cold storage wallets. This security feature offers different trading experiences to the users.

Available in your country:

Not all platforms are available for the trading process worldwide. To ensure that the exchange website is available for your country or not. Many financial regulations are there which creates an impact on the cryptocurrency market. Keeping this aside, the regional factor is important to consider as some of the exchange platforms won’t allow trading in different countries rather than the one which is based on the country where the exchange platform available. However, do some research and ensure that you choose the right crypto exchange.

Trading fees:

You need to check out the trading fee which is charged by the exchange platform. You can buy cryptocurrency with exchange websites to ensure that you save some amount of money. A specific trading fee is there for every time you buy, sell, and trade cryptocurrency from the exchange platform. For daily traders, it is one of the crucial factors to consider. So, look for the platform who charges low trading fees.

Availability of cryptocurrency:

Before choosing the best exchange platform, you need to look at the availability of cryptocurrency options with the site. There should be various digital currencies available for buying, selling, or trading which help users to choose the right ones on the site. Moreover, liquidity is also an important factor that must fill orders on the platform. With the different options available for their choice, users will invest in the right one to gain profitable outcomes in the long run.

Conclusion:

The above-mentioned factors are important aspects to consider before you choosing the best cryptocurrency exchange platform for trading, buying, or selling cryptocurrencies. It might be tough to choose if you are a beginner. So, buy cryptocurrency such as bitcoin, ETH, or any other crypto coins after checking all the above factors. There are many spam and fraudulent sites which have resulted in a financial loss for many crypto traders. So, to keep your assets safe, go-through all aspects of the exchange platform that are mentioned clearly to pick and invest on the right platform.

By the numbers: COVID-19’s remittance impact on India

India received US$79 billion in remittances in 2018, making it the top remittance-receiving country in the world according to the World Bank. Remittances are thought to be so high given the large number of Indian expats – of which estimates suggest there are 17.5 million Indianmigrants around the world. Other studies report that approximately 1 out of every 20 immigrants around the world is born in India, a staggering statistic to say the least.

Given the size of the expat community from India, it’s unsurprising that Indians working in other countries have consistently been the world’s top remitters. Nations around the Persian Gulf and the United States drive most of the remittances to India with large numbers of expats living in the United Arab Emirates (3.4 million), the US (2.7 million) and Saudi Arabia (2.4 million).

Not only do remittances have direct impacts like poverty reduction, specifically for rural areas, they also have positive indirect impacts that include the multiplier effects of consumption spending. This is achieved when remittances received are spent on basic needs to stimulate further demand for goods and services, which goes on to stimulate other outputs and employment. With the importance of remittances clearly outlined, it becomes easier to see the dangers of stemming the flow of this money.

The impact of COVID-19 on remittance values

The economic shock induced by COVID-19 has had a huge impact on remittances. Reports have shown that 75% of the world’s migrants work in countries where three-quarters of the globe’s COVID-19 cases have been reported, according to Knomad. With countries engaging in economic shutdowns to suppress the virus, migrants may find themselves on a reduced wage or with no job at all. In some instances, they may be protected by government stimulus packages, but oftentimes many may find themselves excluded if they don’t meet proper residency or citizenship requirements.

The value of remittances sent home often depends on the migrant’s financial means, motivation and ability to physically send money to India. Given the circumstances, Knomad reports a 20% projected global slump in 2020 for remittances. India is expected to be hit even harder, with remittances expected to fall by 23% from $83 billion in 2019 to $64 billion in 2020.

As many major economies dip into recession, Indians living in those countries are likely to send less money back home. Migrants are particularly vulnerable to job loss as they’re more likely to be employed in roles where they cannot work remotely or in less formal roles. Around 45,000 people have been repatriated to India as a result of being unable to support themselves, according to The Hindu BusinessLine. Others are returning home to be close to their families during these trying times. In turn, all of this reduces the remittance flow into the country.

Foreign policy can also heavily reduce remittances. Recently, Kuwait’s National Assembly approved a draft bill to reduce the presence of foreign workers in the country. On the topic, Prime Minister Sheikh Sabah Al-Khaled Al-Sabah said foreign workers should be reduced from 70% of the population to 30%, a reduction of 2.5 million people. Indian immigrants are expected to be capped at 15% of the population, forcing an estimated 800,000 of 1.45 million Indians in the country to leave. Kuwait, being one of the top sources of foreign remittances to India, will heavily reduce remittance flows into India by limiting immigrants.

Migrants fortunate enough to retain their jobs still face challenges sending money back to India. Money transfer companies may need to reduce operating hours due to lockdowns while suffering lost productivity due to work from home orders. In turn this can impact an individual’s ability to send funds, especially when physical pick up or drop off is required. Companies dealing with volatile sending patterns and reduced revenue may also find it difficult to manage liquidity, leading to increased fees that eat further into remittance totals.

Providing support to migrants

Remittance-centric countries can provide much-needed support to those in need. For migrants who have returned home, the International Labour Organisation recommends a reintegration program. Returning migrant workers bring skills that can help boost productivity, and reintegration programs are instrumental for proper skill recognition and social protection. Public education is also an important component to help soothe concerns that returning migrants may steal jobs in an already competitive market.

For migrants still living overseas, the World Bank recommends social safety nets, employment retention policies and employment promotion policies. Safety nets may include direct support, such as cash-in-hand or access to free services to boost consumption and reduce poverty. Employment retention policies focus on incentivising employers to use subsidies or deductions to help retain staff. Employment promotion policies are geared toward matching workers with employers as well as adjusting any regulations, like visas, to ensure migrant workers can legally be employed.

Money transfer companies also have a part to play. If a country they operate in goes into lockdown they can start a dialogue with policy makers to be deemed an essential service. If physical trips to and from the store aren’t possible, companies should encourage the use of digital remittance channels and educate their customers on the benefits. Not only is this good for the customer, but it could also help money transfer companies manage their cash flow. Even while strapped for cash, people often still need to send money home – some major companies are reducing fees for the time being to help lighten the load. But without further intervention by governments and relief packages, how long will this temporary fix last?