HDFC Bank has announced a tie-up with Paytm to start selling co-branded credit cards. The credit cards will be powered by Visa and will include offerings targeted at millennials, business owners and merchants. Paytm has a reach of over 330 million consumers and 21 million merchants.
The government has allowed airlines to increase capacity to 85% of pre-Covid flights, from 72.5%, and said it will regulate last-minute airfares for flights up to 15 days from the date of booking, starting next month. According to the slab, fares for short-haul flights range between Rs.2,900-8,800, and for long flights between Rs.9,800-27,200.
Net subscription to the employees' provident fund rose to a record high of 1.46 million in July this year. The data, also called net payroll data, was higher in each of the first four months of the current financial year than the average monthly figure of previous years.
Submission of Digital Life Certificate by various pensioners will soon begin at Jeevan Pramaan Centres (JPCs) at Head Post Offices across the country. The facility of submission of Life Certificates by the pensioners aged 80 years and above will be allowed from 1st October 2021 to 30th November 2021.
Robinhood will give college students $15 to trade if they sign up for brokerage accounts using their .edu school email addresses. Students opening Robinhood accounts will also automatically be entered into a contest awarding $20,000 for tuition, which five students will win, for a total of $100,000 in prizes.
In the spirit of festivity, PNB has announced that it has cut down the interest rate on home loans by 50 bp. Now home loans are offered at 6.60% irrespective of any upper ceiling limit. The said rate is also applicable to balance transfer cases and is lowest among public sector banks.
The last date to link Aadhaar with PAN has been extended by the government. The last date for linking Aadhaar with PAN will now be March 31, 2022. Earlier, the last date to link PAN card with Aadhaar card was September 30, 2021.
Mirae Asset Emerging Excellent Fund & Canara Robeco Excellent Equity Fund are the two investment trust SIP plans that have been rated 5 stars by Value Research and Crisil. For a SIP of Rs.10,000 per month on these regular plans 3 years ago, the absolute value of the investment today would be Rs.6,17,000 & Rs.5,73,000 respectively.
Union Bank of India in association with NPCI will launch the ‘Union Bank RuPay Wellness Contactless Credit Card’ on the JCB International network, supporting vast global acceptance. Discounts at gym, free premium health checkup, airport lounge access, etc will be among the many benefits offered by the card.
Kotak Mahindra Bank, Punjab & Sind Bank, SBI & Tata Capital, BoB and Bajaj Finserv & PNB are among the institutions offering concessional home loans at an interest of 6.5%, 6.65%, 6.70%, 6.75% and 6.80% respectively.
HDFC Mutual Fund has launched a new HDWI FoFs. It will invest in a combination of an international exchange traded fund (ETF) and index funds. It is a passively-managed scheme and will invest in five global funds that track Europe, Japan, Pacific (ex-Japan), Canada and the US. NFO opened yesterday and will close on October 1, 2021.
HSBC MF will invest at least 65% of its assets in the stocks of mid-cap companies. The fund might also invest 15-20% of its corpus in small-cap stocks. Earlier too, it had a Midcap Equity Fund. The fund was launched in 2005, but got converted into a small-cap fund in 2018 after SEBI’s reclassification exercise. It had an average track record.
BOB is offering a waiver of 0.25% in the existing applicable rates for Baroda Home Loans and Baroda Car Loans. The bank's home loan rates start at 6.75% and car loan rates at 7%. It has also waived off processing fee on home loans.
Navi MF has filed for Navi Electric Vehicles and Driving Technology Fund of Fund (FoF) with SEBI. The FoF will aim to track the performance of STOXX Global Electric Vehicles & Driving Technology NET Index, which comprises companies that are involved in the production of electric vehicles and assisted driving technologies.
White Oak Capital has got SEBI approval to launch a mutual fund business. It had acquired YES Mutual Fund through its subsidiary GPL Finance in August 2020. The MF’s focus will initially be on actively-managed funds.