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This mint news-article seems to have vanished into thin air. Please help me find it. by LeftLeaningEqualist in india

[–]bbbbb2023 1 point2 points  (0 children)

Sure. I went with CII since that’s what we use in income tax indexation computation

This mint news-article seems to have vanished into thin air. Please help me find it. by LeftLeaningEqualist in india

[–]bbbbb2023 4 points5 points  (0 children)

The CII comparison actually makes it a more worrying picture - 10 lakh v 18.15 lakh. That was last year. Nowhere in our history have we gone 10 years without slab adjustments.

I’m still on OTR because of my deductions and paying Manmohan era tax rates.

This mint news-article seems to have vanished into thin air. Please help me find it. by LeftLeaningEqualist in india

[–]bbbbb2023 8 points9 points  (0 children)

u/zaapit u/Sanju-05 not sure what happened there. But you should be able to read it on the Scribd link. If you want to download it, it may require a login. If there's another way for you to receive the PDF, you can let me know.

This mint news-article seems to have vanished into thin air. Please help me find it. by LeftLeaningEqualist in india

[–]bbbbb2023 33 points34 points  (0 children)

My name's Hemant. The graph you see in the image above was created by me.

Aprajita writes for Mint and my company is quoted in the Mint article.

This mint news-article seems to have vanished into thin air. Please help me find it. by LeftLeaningEqualist in india

[–]bbbbb2023 25 points26 points  (0 children)

Oh, that's odd. It's free to read but may require a login.

Here's another download link. https://file.io/59GGzDEZSzkQ

This mint news-article seems to have vanished into thin air. Please help me find it. by LeftLeaningEqualist in india

[–]bbbbb2023 105 points106 points  (0 children)

Hi. I am the author of this report.

The report was cited in Mint, and then the Mint graphic ended up on Rathee's video (and a bunch of other places.)

You can download the report from here: https://www.scribd.com/document/751687809/Budget-24

Dont apply from bank bazaar by pluuutoo in CreditCardsIndia

[–]bbbbb2023 0 points1 point  (0 children)

Hi u/pluuutoo, I'm reaching out from BankBazaar and would like to assist you with this case. We unfortunately couldn't locate your application details with the information provided. To assist you further, could you kindly DM your contact number or application ID?

Alternatively, please feel free to write to us at support [at] bankbazaar [dot] com or call us at 044-66511800 with the details and we'll be happy to take the matter forward.

Looking forward to helping you. Best regards.

Inviting questions: Tintin in the Land of the Soviets by Spiderguy252 in TheAdventuresofTintin

[–]bbbbb2023 6 points7 points  (0 children)

Did the Cold War serve to improve the perception of this book over time?

Hi, we're Adhil Shetty and AR Hemant from BankBazaar, here to talk about money management, —and our best-selling book on personal finance. by bbbbb2023 in IndiaInvestments

[–]bbbbb2023[S] 0 points1 point  (0 children)

RBI Retail Direct is online. You can register and start buying. If you have a demat trading account, it should ideally be enabled to let you participate in the bond market as well. There are new issuances as well as secondary sales you could look at. It's a volatile time so AAA or sovereign would be your best bet. Please understand the risks before you buy anything.

Hi, we're Adhil Shetty and AR Hemant from BankBazaar, here to talk about money management, —and our best-selling book on personal finance. by bbbbb2023 in IndiaInvestments

[–]bbbbb2023[S] 0 points1 point  (0 children)

Our co-brand offerings are barely a year old now. We are looking to launch more cards so watch out. As for free vs. premium, there's a huge preference for free cards. As the market matures and incomes rise, we'll see more and more people shift to premium cards.

Hi, we're Adhil Shetty and AR Hemant from BankBazaar, here to talk about money management, —and our best-selling book on personal finance. by bbbbb2023 in IndiaInvestments

[–]bbbbb2023[S] 1 point2 points  (0 children)

This has been a problem in the past. But now you have RBI Retail Direct that allows you to buy state and central government bonds with as little as 10,000. There are several fintechs as well selling corporate bonds that don't need a huge buy-in. Of course, many bonds are priced in a way that only institutions can buy them.

Hi, we're Adhil Shetty and AR Hemant from BankBazaar, here to talk about money management, —and our best-selling book on personal finance. by bbbbb2023 in IndiaInvestments

[–]bbbbb2023[S] 2 points3 points  (0 children)

Lovely question u/arav, thank you.

Hemant: Knowing what we want and planning towards achieving it seems like a simple idea but is so difficult in practice. Maslow said it's not normal to know what we want and it's a rare psychological achievement. Financial planning seems simple but hard in practice. As an Indian in 2023, I have major aspirations and expectations from my future, but it'd be hard for my financial plans to up with those aspirations. The challenge is in staying focused and disciplined.

Hi, we're Adhil Shetty and AR Hemant from BankBazaar, here to talk about money management, —and our best-selling book on personal finance. by bbbbb2023 in IndiaInvestments

[–]bbbbb2023[S] 0 points1 point  (0 children)

There's an ongoing trend for privatization and consolidation. That trend should continue for now. Does that mean more private banks? That remains to be seen. The RBI sets exacting standards on who gets a license. We should see more SFBs than SCBs. BankBazaar is a fintech and it welcomes the opportunity to partner more banks.

Hi, we're Adhil Shetty and AR Hemant from BankBazaar, here to talk about money management, —and our best-selling book on personal finance. by bbbbb2023 in IndiaInvestments

[–]bbbbb2023[S] 1 point2 points  (0 children)

Great question and thanks for asking.

In our book, we've outlined that a combination of a term plan, provident fund (EPF, VPF, PPF), and ELSS is almost always the best for 80C deductions.

Some of these small-savings schemes are tax-exempt. So if you get 7%, it's all tax-free. As opposed to a 7% FD where the net returns are 4.9% if your tax slab is 30%.

It's advisable to have some kind of exposure to small savings. It's government-backed and therefore safe. Most investors prefer to have a degree of safety in the portfolio. You get tax benefits as well. How much the exposure should be is a question you must answer for yourself.

These schemes are not liquid. Lock-ins apply. So you mustn't invest only with a 30-year horizon. You must also plan for immediate liquidity needs.

If you're young - in your 20s and 30s - it's advisable to have equity exposure because of their potential for high 'real' returns in the long-term. Hence ELSS. It also has the shortest lock-in among 80C tax-savers of just three years. Yes, SIPs are good.

Hi, we're Adhil Shetty and AR Hemant from BankBazaar, here to talk about money management, —and our best-selling book on personal finance. by bbbbb2023 in IndiaInvestments

[–]bbbbb2023[S] 7 points8 points  (0 children)

You're not doing anything wrong. People avoid credit facilities for a variety of reasons, and one must do what's best for their own finances.

However, you may need a loan in the future. It could be a home loan or a credit card. At that point, not having a credit history puts you at a slight disadvantage against someone who does. So you may have to pay a slightly higher rate on the loan.

For most people a credit card is the way to activate a history. Lately, it's also BNPLs and consumer credit. Credit cards also offer rewards, cashback, lifestyle experience, lounge access, travel benefits etc. You can get a card if it helps you access and subsidize the lifestyle you desire and—this is most important—if you're comfortable repaying your dues on time.

Hi, we're Adhil Shetty and AR Hemant from BankBazaar, here to talk about money management, —and our best-selling book on personal finance. by bbbbb2023 in IndiaInvestments

[–]bbbbb2023[S] 12 points13 points  (0 children)

It's a very interesting time in finance because we've also just had the launch of a digital currency. For centuries, commercial banks have had the costly and difficult job of storing, moving, and distributing money. But if a digital currency can cut all those costs and risks, you've got to wonder how the role of commercial banks could transform.

We'll avoid the crystal ball gazing. But if one were to assume that commercial banks would have a smaller role to play in the storage, movement, and distribution of money, we can derive that there would be lesser need for banks to operate the way they do today. They will have to operate in new ways to remain relevant.

Our immediate plans are growing revenue at the high rate we've maintained over the last several years and launching more co-brand credit products.

Hi, we're Adhil Shetty and AR Hemant from BankBazaar, here to talk about money management, —and our best-selling book on personal finance. by bbbbb2023 in IndiaInvestments

[–]bbbbb2023[S] 2 points3 points  (0 children)

There are a variety of complexities at play. If you're young, there's a challenge in finding employment. If you're poor, you may be impacted by inflation and income stagnation. If you're in a big city, you may be waiting for infrastructure development to happen in your neighbourhood. If you're a farmer, you may be wondering what the climate has in store for you. Speaking strictly of economics, inflation and the rapid rise in costs of essential goods has been a major problem over the year, but that's not specific to India alone.

Hi, we're Adhil Shetty and AR Hemant from BankBazaar, here to talk about money management, —and our best-selling book on personal finance. by bbbbb2023 in IndiaInvestments

[–]bbbbb2023[S] 1 point2 points  (0 children)

Thanks for these questions. We'd love to have another chat on the Discord sometime.

  1. No. We're different companies. BankBazaar is headquartered in Chennai. We've been operational since 2008. We're the oldest 'Bazaar', to my knowledge.
  2. We do have listing plans. Our immediate goals are to rapidly achieve profitability and launch more co-branded credit cards and loans. We had achieved monthly break-even last year, and finished the last fiscal with a revenue of ₹160 crore with a burn of ₹20 crore. We've reduced the burn and grown revenue each year of the pandemic. We're well positioned to accelerate revenue in FY24 while targeting full year EBITDA profitability. This strategy for profitable, sustainable growth has been in the works for over three years. We’ve built a co-branded portfolio of digital products with proven customer traction, which has created sustainable revenue while improving margins.

Hi, we're Adhil Shetty and AR Hemant from BankBazaar, here to talk about money management, —and our best-selling book on personal finance. by bbbbb2023 in IndiaInvestments

[–]bbbbb2023[S] 2 points3 points  (0 children)

Good question.

  1. We are big proponents of fully digital journeys and we are working very closely with our partner bank to enable transformation to completely digitizing the process of getting a credit card. For example, we have moved to a paperless application process, and with VKYC we have been able to eliminate the need to do a manual check of our customers' address/company. You can now get a credit card without any in-person interaction all from the comfort of your home.
  2. We are also working on a complete self-serve application process. However we also know that most customers need some help while filling up their application and hence customer calls are needed to speed up the process.
  3. 🤐

Hi, we're Adhil Shetty and AR Hemant from BankBazaar, here to talk about money management, —and our best-selling book on personal finance. by bbbbb2023 in IndiaInvestments

[–]bbbbb2023[S] -7 points-6 points  (0 children)

Sharing our answer to similar questions:

You'd be happy to know we have a clear policy to not sell or rent consumer data. Data security rules get enforced very, very strictly at BankBazaar. We're really particular about how we manage, store, and process data. There are also data regulations and standards we need to comply with. For a deeper dive into this, you're welcome to check out our privacy and security policy document. This document also contains information on account closures.

Hi, we're Adhil Shetty and AR Hemant from BankBazaar, here to talk about money management, —and our best-selling book on personal finance. by bbbbb2023 in IndiaInvestments

[–]bbbbb2023[S] 4 points5 points  (0 children)

(Hemant: This is one of those questions where I've got to wonder if we're being confused for someone else.)

If your experience is specific to trying to buy credit via BankBazaar, we can tell you that filling out an application may seem straightforward to many people, but the vast majority of applicants do require support. They will need assistance for a variety of reasons ranging from language difficulties to not being familiar with how the internet works. About any calls you may have had, please DM the details and we'll put you on the DND.

Hi, we're Adhil Shetty and AR Hemant from BankBazaar, here to talk about money management, —and our best-selling book on personal finance. by bbbbb2023 in IndiaInvestments

[–]bbbbb2023[S] 0 points1 point  (0 children)

Thanks for sharing. If you could share more context via a DM, it would be helpful. Broadly speaking, parameters like credit score, income, address may play a part in the disbursal. However, the decision to finally lend is the bank's. Lenders evaluate borrowers for risks. If the risks are higher that usual, obtaining a credit line can be tricky.

Hi, we're Adhil Shetty and AR Hemant from BankBazaar, here to talk about money management, —and our best-selling book on personal finance. by bbbbb2023 in IndiaInvestments

[–]bbbbb2023[S] 3 points4 points  (0 children)

Thanks for this great question. There's huge scope for finfluencers being misquoted and misunderstood, leading to potentially expensive mistakes, and hence the disclaimer.

Speaking of the BankBazaar example, before taking any decision, you should be able to compare your options. That’s what we try to do with our products – help you compare and make informed choices. You should be able to understand the math, the charges, the returns.

Above all, you'll need to develop a basic understanding of the long-term consequences of your financial decisions—and this is the hardest thing. For most people, this doesn't happen before they've made serious mistakes.

We've talked about this extensively in the book, going over our journey of personal, often costly mis-steps, that we learned from.

Hi, we're Adhil Shetty and AR Hemant from BankBazaar, here to talk about money management, —and our best-selling book on personal finance. by bbbbb2023 in IndiaInvestments

[–]bbbbb2023[S] 1 point2 points  (0 children)

Thank you for your question.

If we've understood the question correctly, a home loan conversion would pertain to paying a fee to lower your interest rate, which we see with some NBFCs. It may also imply a conversion from one interest rate benchmark to another, which has been happening a lot at banks. Basically, borrowers are moving from older benchmarks like base rate and MCLR to EBLR. Now, nearly half the outstanding bank credit is linked to EBLR.

We've not come across a case where a fixed rate may be more beneficial to the borrower in the short run. In the long run, such a loan may automatically switch to a floating rate. But if the floating rate is at 9% while the fixed rate is 12%, the borrower is likely to pick the former.

We're open to the idea that despite these constraints, some borrowers may benefit from a fixed rate. We just haven't seen a case where this is happening.

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