Accounts – BB Veggie Wed, 08 Sep 2021 01:51:39 +0000 en-US hourly 1 Accounts – BB Veggie 32 32 Falling gold price is forcing loan companies to reduce tenure and seek more collateral Wed, 07 Apr 2021 23:16:58 +0000


oi-Roshni Agarwal


Amid the decline in nationwide gold prices to levels of Rs. 44,910 per 10g, gold finance companies are seeking more collateral and reducing the tenure.
In addition, some of the financiers, including the larger ones such as Muthoot Finance, encourage borrowers who make frequent repayments, say monthly. In addition, to prevent any risk, gold lending companies disburse loans well below the authorized limit, i.e. 75% of the value of the metal for shadow lenders and 90% for conventional lenders. until March 31.

Falling gold price is forcing loan companies to reduce tenure and seek more collateral

Falling gold price is forcing loan companies to reduce tenure and seek more collateral

In addition, the term of the loan has been sharply reduced from 270 days to 90 days.

In the past year, there has been a record increase in gold lending as companies to overcome the coronavirus crisis pledged their family’s gold. As a result, loans on the outfit have increased by 25% and the company’s gold holding stands at no less than 146 tons, which is higher than the official reserves of Singapore and Sweden.

“People are sentimental about their jewelry,” said George Muthoot Alexander, Managing Director of Muthoot Finance. “They will never want to default despite a drop in gold prices as they intend to get their promised adornments back.”

Gold posted its first quarterly loss in over 2 years as signs of an economic recovery became imminent and demand for ETFs declined further. In India, gold is trading visibly near its one-year low. And now, in the midst of the economic recovery, investors are trading safe havens for investments that could explode amid economic resilience, such as stocks and even bonds, as there has been an increase in bond yields.

The risk that emanates and worries lenders on the ground is in the midst of a resurgence of Covid 19, even the most diligent of repayers can falter and fail to repay.

  • Will US CPI data at 5.3% push gold prices down?
  • Gold rate in India trades at Rs. 46,000 on September 14, down slightly
  • Importing gold to India: rules, entities, taxes
  • Gold rates in India fell slightly on September 13
  • Is the fall in gold prices still a good hedge against inflation?
  • The price of gold is quoted at Rs. Rs. 46,070 on September 11
  • Why should you choose gold ETFs? Benefits and privileged funds
  • Indian gold rates rose slightly on September 10
  • Indian Gold Rates Falling, Should You Buy Before the Holiday Season?
  • Gold Rates Drop Rs. 120 September 9, India
  • Indian gold rates fell from Rs. 290 on September 8
  • Gold prices fell by Rs. 120 on September 7th in India

Article first published: Monday April 5, 2021, 4:41 PM [IST]

Source link

]]> 0
“Will AI be the next Warren Buffett?” »- 30 quotes of the week on digital transformation Wed, 07 Apr 2021 23:16:55 +0000

Launched in 2014, HistoryCocks is a weekly column of YourStory, with notable quotes in our articles from last week. This special series of quotes focuses on the growing impact of digital media in India and around the world (see the previous post here). Share these 30 gems and ideas with your colleagues and networks, and come back to the original articles for more information.

Consistency and quality are the essential elements of a successful content marketing strategy. – Mohammad Tareeq, Valasys Media

Performance marketing is the easiest way to grow e-commerce businesses. – Vineeta Singh, SUGAR Cosmetics

COVID-19 is a challenge, but technology is the future, and MSMEs need to adapt as much as possible. – Sumant Rampal, HDFC Bank

Over four billion people are active on social media around the world, collectively generating a massive amount of conversations, engagement and activity every day. – Ram Bhamidi, social circus

There has been a radical shift from creating courses to curation. – S. Karthik, TCS

The profile of today’s players has changed considerably. The gender gap is also narrowing and more and more women enjoy playing. – Sai Srinivas, Premier League mobile

Physicians are the most influential decision makers in the health field. – Vaibhav Agrawal, speed of light

Knowledge workers must evolve technology-based practices while maintaining human empathy, intuition and sense of purpose. – Nirmala Palaniappan

Strange as it may sound, engagement is one of the key skills for success in a hybrid workplace shaped by digital transformation. – Rudolf D’Souza, Afcons Infrastructures

Long-term mindset, behavioral awareness and creativity are three fundamental skills in a digitally transforming world. – Arthur Shelley, Smart Answers

Many successful businesses refuse to embrace the digital world soon enough, and the results are visible to all of us. HMT and HMV are classic stories of this disease. – Robin Banerjee, “Who’s Goofing and How”

We believe 2021 will be a pivotal year of innovation and significant progress in transforming the customer experience for the business. – Rob Rueckert, Sorenson Capital

India’s technology services industry could accelerate its growth by 2-4% over the next five years, reaching $ 300-350 billion in annual revenue if it can earn in cloud, AI, cybersecurity and other emerging technologies. – NASSCOM

Pune is famous for its high quality education and offers a great talent pool, as well as good infrastructure and wonderful weather. – Varun Sridhar, Paytm Money

India’s $ 800 billion retail economy is becoming hyper-digital. – Vikram Chachra, 8i Ventures

Market readiness is very different in the villages. – Sagar Mallick, Online Food Express

Less than 10% of loans are securitized in India, compared to over 30% in the United States. – Harshwardhan Mittal, CredAvenue

About 100 million students are looking for extracurricular courses in India, but 99% of the tutoring market is unorganized. – Rohit Jain, DUX Edu

The majority of young people in India are not allowed to borrow from traditional financial institutions. – Gaurav Jalan, mPokket

As a founder, your job is to observe hundreds of expert journeys and determine what works best for your startup. – Satvik KJ,

With the right advice, mentorship, inspiration and information, teens can discover that their passion can find a career path. – Saurabh Saxena, Uable

Innovation is always about something new and is also risky. – Jeyandran Venugopal, Flipkart

Tech companies are laying the groundwork for new wealth-creating industries. – Mr. H. Bala Subrahmanya and HS Krishna, “Technology Business Incubators in India”

Product managers need to understand the problem behind customer feedback and imagine solutions on their behalf. – Linda zhang

Product management has become an important discipline, especially in technology companies. – Anshu Prasher, capital of the whiteboard

Allowing cryptocurrencies to buy from businesses around the world is the next chapter in the ubiquity and massive acceptance of digital currencies. – Dan Schulman, PayPal

Augmented reality and virtual reality have the potential to completely change the way people work. They can be a source of huge savings and much higher efficiency. – Rahul Dutta, AltReal Studio

By integrating immersive technologies like AR into existing e-commerce stores, brands make shopping experiences more user-friendly, intuitive and satisfying. – Kartik Kanaujia, Adloid Technologies

In the past, [AI and KM] worked mainly independently. Now is the time to co-design and co-develop smart solutions for better and faster decisions. – Vincent Ribière, IKI-SEA

Will AI be the next Warren Buffett? – Kanika Agarrwal, IA backwards

YourStory also published the paperback “Proverbs and quotes for entrepreneurs: a world of inspiration for startups” as a creative and motivating guide for innovators (downloadable as apps here: Apple, Android).

Source link

]]> 0
How this FinTech startup plans to disrupt Singapore’s $ 1 billion mortgage industry Wed, 07 Apr 2021 23:16:53 +0000

A new type of fintech company wants to help homebuyers in Singapore save on their home loans, using technology to boost competition and take business from the big banks.

SINGAPORE, April 7, 2021 / PRNewswire / – The differences between the mortgage offers offered by the big banks are difficult to spot and even more difficult to determine when looking for a mortgage offer.

However, a new start-up is trying to change that.

Presented as a disruptor in financial comparison, ROSHI plans to provide Singapore with a premier mortgage market on the market, which connects customers, whether they’re taking out a new loan or refinancing, directly with mortgage brokers who then negotiate better rates from lenders.

Borrowers can rate their mortgage broker’s services using a rating and appraisal system similar to Grab and Airbnb.

While other home loan comparison sites simply list the advertised offers available directly from banks, lenders and other financial institutions, ROSHI wants to do better by listing the offers available through these same lenders through mortgage brokers and partners.

ROSHI already offers a plethora of product comparison features and expert reviews to answer all money questions. With a focus on user experience, the platform makes it easy for users to compare the best financial products and the listed products are independently reviewed to help consumers with their purchasing decision.

ROSHI is a financial comparison site offering Singapore with a leading position in the real-time mortgage market. For more information visit: or by e-mail:

This press release was posted via For more information visit


View original content to download multimedia:


Source link

]]> 0
The reversal of the Caisse d’Épargne Territoriale credit reserve helps boost results Wed, 07 Apr 2021 23:16:50 +0000

The Territorial Savings Bank released $ 679,000 from its loan loss reserve in the fourth quarter to help increase profits by 9.5% and exceed analysts’ estimates.

The state’s fifth bank said Thursday it is also paying non-management employees a $ 1,000 year-end bonus for their work during the pandemic.

“2020 has been a very difficult year for residents and businesses of Hawaii,” Territorial Bancorp Inc. president and CEO Allan Kitagawa said in a statement. “The fall in interest rates that occurred during the pandemic lowered asset returns and created challenges in the banking industry. Despite these obstacles, we have had a successful year, mainly due to the quality of our assets and our strong capitalization. “

Territorial earned $ 5.5 million, or 60 cents per share, in the quarter, beating estimates of 43 cents per share. A year earlier, Territorial had reported profit of $ 5 million, or 54 cents per share.

For the year, Territorial’s net income fell 15.4% to $ 18.6 million, or $ 2.01 per share, from $ 22 million, or $ 2.34 per share, in 2019.

Territorial said the reversal of its loan loss allowance was mainly due to a decrease in the size of the bank’s mortgage portfolio and a drop in the unemployment rate in Hawaii. Loans receivable fell 11.2% to $ 1.41 billion in the fourth quarter, from $ 1.58 billion a year earlier. Hawaii’s unemployment rate fell for three months in a row and ended December at 9.3%.

Territorial said that as of December 31, it had outstanding loan payment deferrals on $ 130.8 million in loans, which represented 9.3% of total loans receivable. The bank said $ 126.3 million of those deferrals were for residential mortgages for one to four families, or 9% of total loans receivable. Residential mortgages represent 97% of the bank’s total loan portfolio.

The bank also granted loan deferrals on $ 4.5 million of commercial, commercial and industrial mortgages and home equity lines of credit, representing 0.3% of total loans receivable at the bank. end of the fourth quarter.

The total amount of deferral program loans increased from $ 142.2 million as of September 30 to $ 130.8 million as of December 31.

By the end of the year, $ 92.2 million, or 73.1% of mortgage deferral program loans, had resumed full payment of principal and interest. In contrast, $ 304,000, or 0.2% of the mortgage deferral program loans, had completed their six-month forbearance period and had not resumed their payments.

The bank said it had $ 240,000 in mortgages that were 90 days or more past due as of December 31, compared to no mortgages that were 90 days or more past due at the end of 2019. The loans in arrears exclude loans benefiting from deferral of payment. because of COVID-19.

Non-performing assets – non-interest bearing delinquent loans and foreclosed real estate – totaled $ 4.41 million as of December 31, compared with $ 736,000 a year earlier.

Territorial’s net interest income, which is the difference between what the bank generates on loans and makes deposits, fell 4.6% to $ 13.8 million from $ 14.5 million. Its net interest margin deteriorated to 2.73% from 2.88% in the previous year quarter.

The bank’s non-interest income, which includes fees and commissions, more than doubled from $ 1 million to $ 2.5 million. The increase is mainly attributable to a $ 462,000 increase in the gain on sale of investment securities, an increase of $ 436,000 in loan and deposit account service fees and a $ 310,000 increase in the gain. in the sale of loans.

Deposits rose 1.7% to $ 1.66 billion from $ 1.63 billion.

Territorial also maintained its quarterly dividend of 23 cents per share. It will be payable on February 25 to shareholders of record on February 11.

Shares of the company closed down 71 cents, or 2.8%, at $ 25.04 ahead of the earnings announcement.

Source link

]]> 0
Deliveroo workers strike amid wage and terms dispute Wed, 07 Apr 2021 23:16:47 +0000

Workers at the delivery company Deliveroo went on strike Wednesday in a dispute over wages and terms.

Social distancing protests have taken place in cities like London, York, Sheffield, Reading and Wolverhampton.

The Self Employed Union of Great Britain (IWGB) said its members called for a living wage as well as improved labor rights and safety protections.

The union said supportive action was expected in Australia, France, the Netherlands, Ireland and Spain.

I strike for my fundamental rights

The action follows recent campaigns by actors in the odd-job economy to be classified as workers and thus receive better wages and conditions.

Unions recently won a lawsuit against ride-sharing company Uber.

Alex Marshall, IWGB President and former bicycle courier, said: “Deliveroo presents a false choice between flexibility and basic rights, but the Uber decision has shown that, here and abroad, workers can have the two.

“It’s the least they deserve and what the public expects from our frontline workers.”

Greg Howard, a Deliveroo runner and an IWGB official, said: “I am going on strike for my basic rights and those of all the other runners who are struggling to get by and support families with the poverty wage of Deliveroo.

“I saw conditions decline for years, then working during the lockdown I contracted Covid-19 and received very little support.

“After the pandemic, more people than ever understand that this exploitation is no way to treat anyone, let alone key workers.”

Full trading in Deliveroo shares began on Wednesday, although some investors have expressed concerns about workers’ rights.

Just yesterday we did a survey and 89% of riders said they were happy with the company and flexibility was their top priority.