COST Financial News

Father’s Day 2024: Fatherhood is one of the fulfilling experiences for a man as it helps him evolve as a person and develop a sense of responsibility. This is the time when a father start prioritizing the needs of another being over his own. Fatherhood is also a time when a man starts becoming a lot more financially responsible.

State Bank of India (SBI) has hiked its marginal cost of funds-based lending rate (MCLR), the minimum lending rate below which a bank is not permitted to lend, by 10 basis points (bps) across all tenures. The MCLR hike is effective from today, June 15. This hike is despite the RBI holding the key interest rate or repo rate unchanged in its June monetary policy review.

Michelin has announced the launch of its most fuel-efficient truck and bus tyre, the Michelin X Multi Energy Z+, for the Indian market. This latest line of made-in-India tyres is engineered for Indian road and load conditions and also takes into account the growing demand for fuel-efficient tyres by Indian fleet owners.

Among the various types of home loans available, floating rate home loans are a common choice due to their potential for lower initial interest rates and flexibility. Floating rate home loans have interest rates that fluctuate based on market conditions.

Pepe Unchained ($PEPU) is the latest meme coin craze. The spectacular success of Pepe has translated into 44523% returns for early investors in a year. Launching on the Ethereum layer-2, Pepe Unchained ($PEPU) is gearing up for “double the staking rewards, double the Pepe, and 100X the fun”.

₹2 trillion, although the interim budget for 2024-25 had a relatively modest projection, we have the fiscal space to rid this levy of its complexity and go for simplified stability. While GST slabs need a reset, we must also widen its coverage to include fuel, liquor and other stuff left out for later consideration. Since states with heavy local levies on these items had feared it would hollow out their coffers, a consensus on this is a challenge.

₹249 every month. The rest of the platform remains free for transactions. In 2023, Sebi introduced a circular asking RIA platforms with transaction-only clients to move to so-called execution-only platform (EOP) status.

Net Asset Value Net Asset Value or NAV is the cost of a single unit of a mutual fund. This is the price at which you buy or redeem units in a mutual fund. A mutual fund holds various assets on behalf of the investors, depending on its defined objective and equity/debt category. These can include shares, bonds, money market instruments, cash and derivatives.

CAPITAL HYDERABAD BEST TIME TO VISIT NOVEMBER-FEBRUARY

Tata Motors Ltd has laid out an aggressive road map for the next few years, aiming to jack up its market share on the back of new launches andsharper focus on electric vehicles (EVs), though more competition and margin pressure may throw a wrench in its plans. In the domestic passenger vehicles (PV) business, Tata Motors plans to launch 5-6 new models, including four EVs, over the next two years starting with Curvv in FY25. The management expects India’s PV industry to touch 6 million units by FY30, a compound annual growth rate (CAGR) of 6%.

petrol prices above Rs 100 a litre and diesel to Rs 89, but rates are lower than neighbouring Andhra Pradesh which has the costliest fuel in the country, oil industry data showed. The Karnataka government on June 15 hiked local VAT (value added tax) from 25.92 per cent to 29.84 per cent on petrol and from 14.3 per cent to 18.4 per cent on diesel. This led to petrol price now costing Rs 102.86 per litre in Bengaluru and diesel coming for Rs 88.94 a litre. But the rates in Karnataka are still lower than neighbouring Andhra Pradesh and Maharashtra.

Against the backdrop of the Caribbean Sea, Ontario couple Matt Lassaline and Kirsten Whiteley got married in Jamaica last month in a small beach wedding ceremony that was everything they had imagined.

₹3 per litre, reaching ₹102.84 in Bengaluru, up from the previous rate of ₹99.84. Similarly, diesel prices have increased by ₹3.02 per litre, now costing ₹88.95, up from ₹85.93.

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Sales of affordable homes — priced up to Rs 60 lakh each — declined 4 per cent in eight major cities to 61,121 units during January-March this year on lower supply and higher demand for luxury apartments, according to PropEquity. The top eight cities are — Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru, Hyderabad, Chennai, Kolkata, Pune and Ahmedabad. Real estate data analytic firm PropEquity data showed that sales of homes, costing up to Rs 60 lakh each stood at 6,3787 units in the January-March period of the last calendar year. A lower supply of affordable homes is one of the key factors for this marginal fall in sales.

Petrol pump owners across Delhi have issued a warning to shut down Pollution Under Control (PUC) certification centres starting July 1, citing unaddressed financial challenges. Despite persistent appeals since 2015, the fees for issuing PUC certificates have remained unchanged for over 12 years, rendering operations unsustainable, according to the Delhi Petrol Traders’ Association (DPDA), a TOI report stated. In a letter addressed to Delhi’s transport commissioner, DPDA expressed their longstanding concerns, stating, «PUC certification centres earlier operated on wafer thin margins for many years and have for the last few years operated on losses...While the spiralling costs and other expenses, which have jumped several fold, have been brought to your notice several times in the past, non-revision of PUC checking rates and the consequent unviability is forcing us to close our centres across Delhi from July 1.» Currently, Delhi hosts nearly 650 PUC centres, situated at various petrol and diesel stations throughout the city. Customers are charged Rs 60 for two-wheelers, Rs 80 for petrol cars, and Rs 100 for diesel vehicles (excluding 18% GST) for PUC checks. «The last time the rates were revised was in Dec 2011. In the last 12 years, the minimum wages of a skilled worker have gone up by nearly three times, the oil companies have started charging exorbitant rents for these centres and the overhead charges such as maintenance of the equipment have also increased,» DPDA President Nischal Singhania told TOI.

Karnataka's State Minister for Commerce and Industries MB Patil has justified the decision to raise fuel prices, stating it aims to support the state's guarantee schemes and development projects.Patil emphasized that while fuel rates have increased in Karnataka, they are still comparatively lower than in other states, News18 reported.Moreover, the Karnataka government immediately increased petrol and diesel prices from Saturday.Also Read: Karnataka hikes petrol and diesel prices by ₹3 per litre. Check new rate, other detailsPetrol prices have risen by ₹3 per litre, reaching ₹102.84 in Bengaluru, up from the previous rate of ₹99.84.

Also Read: 6 crucial ways term insurance can help working moms in financial planningA personal term insurance plan provides comprehensive financial security. Unlike company coverage, which is tied to one’s employment period, term plans can be customised to offer high sums assured for as long as 99 years.

The price change in 24 carat gold in the last one week has been 0.17% .whereas in the last month it has been 3.11%.The cost of silver is Rs.88010.0 per kg Gold Price Today in Chennai is ₹73663.0/10 grams. Yesterday’s Gold Price on 15-06-2024 was ₹73658.0/10 grams. and last week’s gold price on 10-06-2024 was ₹74214.0/10 grams.

Mahindra Group is looking for partnerships with global players for local production of battery cells in order to cater to expected increase in demand for electric vehicles in the future, according to a top company executive. In an interaction with PTI, Mahindra Group MD and CEO Anish Shah said the company is looking at a 2030 timeframe for the possible listing of its electric vehicle arm Mahindra Electric Automobile Ltd (MEAL). «One area that we continue to look at more closely is cell manufacturing and that is something where there are various considerations… if we feel it's essential for us, we will look at a partnership for cell manufacturing,» he stated. He further said: «We will look at a global technology partner, and potentially at private equity partners as well because we will not put the entire capital.» The initiative, if it materialises, would enable local production of battery cells in India, Shah said.

Wall Street axiom warns to “never fight the Fed.” But that’s exactly what traders are doing, and it could spark a rally in some of the forgotten corners of the stock market. Federal Reserve forecasts and comments from central bankers couldn’t be more clear. Investors are being warned that interest rates will stay higher for longer than they’d expected, with the median projection from Fed officials calling for one interest rate cut this year.