Technodealz - Technology Updates & News

  Oil Marketing Companies (OMCs) increased the prices of commercial LPG cylinders by  ₹ 21 per cylinder in various locations throughout the country. The hike will come into effect from today i.e. 1 December. However, price of domestic LPG - used in household kitchens for cooking purposes remained unchanged at  ₹ 903 per 14.2-kg cylinder. Following the hike, a 19 kg LPG cylinder is now priced at  ₹ 1796.50 in Delhi,  ₹ 1908 in Kolkata,  ₹ 1749 in Mumbai and  ₹ 1968.50 in Chennai. Previously, price of the 19kg LPG cylinder in Delhi was  ₹ 1775.50,  ₹ 1885.50 in Kolkata,  ₹ 1728 in Mumbai and  ₹ 1942 in Chennai. Apart from this,  Jet fuel  or ATF price was also slashed by 4.6 percent - the second reduction in one month. Aviation turbine fuel (ATF) price was reduced to  ₹ 1,06,155.67 per kilolitre in the national capital from  ₹ 1,11,344.92 per kl, according to a price notification of state-owned fuel retailers. Stat...

  The new  SIM card  rules introduced by the government in August this year will finally come into force from December 1. The rules will bring in a slew of changes, including banning the sale of bulk SIM cards, mandatory registration of PoS franchisees, agents and distributors by telecom operators and police verification of SIM dealers, among others. 1) Registration Process:  Under the new rules, PoS agents will have to sign an agreement with the telecom service provider or licensee to dissuade them from indulging in illegal activities. PoS agents could face a penalty of  ₹ 10 lakh and their association with the telco would be terminated for a period of three years if they are found indulging in any illegal activity. Sellers will have 12 months from December 1 to comply with the new registration requirements. The move is expected to help the government identify, blacklist and remove rogue sellers from the telcos' systems. 2) KYC rules:  Under the new rules,...

  Banks holiday in December 2023:  Banks are going to remain closed for 18 days in the month of December. Those intending to visit the bank for urgent matters are advised to take note of the listed holidays. Nonetheless, internet banking services will remain accessible nationwide on all days. Read More:   Maintaining multiple bank accounts? Now, get single-view access to all transactions The All India Bank Employees’ Association (AIBEA) has called for a 6-day nationwide strike in December, affecting different banks on different dates: December 4:   Punjab National Bank  (PNB), Punjab and Sindh Bank,  State Bank of India  (SBI) December 5:  Bank of Baroda, Bank of India December 6:  Canara Bank, Central Bank of India December 7:  Indian Bank, UCO Bank December 8:  Union Bank of India, Bank of Maharashtra December 11:  All Private Banks Read More:   Here’s how you can update your Aadhaar details for free before December 14 A...

  The cost of living is basically the amount of money one needs to survive in a given place – and one's most essential needs such as food, water, housing, taxes, cost of commute, healthcare, etc. The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket. Since the Russia-Ukraine war broke out, the cost of raw materials and commodities has gone up. This has increased India's payments outgo for oil, gold, and other commodities. Fuelled by rising food inflation, the retail inflation for agricultural labourers and rural workers increased marginally to 7.08 per cent and 6.92 percent in October, respectively, from 6.70 percent and 6.55 percent respectively in September 2023, said the labour ministry in a statement on Monday. Food inflation stood at 8.42 percent and 8.18 percent for the Consumer Price Index for Agricultural Labourer (CPI-AL) and Consumer Price Index for Rural Labourer (CPI-RL) in October 2023 compared t...

  Travel insurance  is like a safety net, offering invaluable peace of mind when exploring the diverse landscapes of our world. However, many travellers believe they don't need travel insurance, but not having coverage can leave you vulnerable if an emergency arises during your trip. This blog aims to debunk five major  myths  that prevent people from purchasing travel insurance. Understanding the truth about what travel insurance does and does not cover can help you make an informed decision about your travel plans. With a little knowledge, you can avoid potential financial disaster if the unexpected occurs when you are away from home.  Let's separate travel insurance fact from fiction so you travel with full awareness and peace of mind. There are several common misconceptions about travel insurance that cause travellers to forgo this important protection. The five travel insurance myths that need to be busted right now are as follows: Myth: I don’t need travel...

  The Reserve  Bank of India  (RBI) has tightened norms for consumer credit as it asked banks and NBFCs to assign a higher risk weight for unsecured personal loans. Fintech lenders may face the brunt of  RBI 's tightening of capital norms for unsecured lending. “More than just the increase in the cost of financing, the recent RBI action is clearly a yellow flag for lenders in unsecured personal loans to relook at underwriting thresholds. There are early signs that the rapid growth in disbursements to this borrower profile may result in stressed portfolios and higher NPAs. Just by the nature of how banks allocate capital, our sense is that new-age lending fintechs and the P2P industry may see the maximum increase in cost of finance with NBFCs also being impacted but to a lesser degree." said Nikhil Aggarwal, Founder & CEO, Grip. The move comes within a month of RBI Governor  Shaktikanta Das  flagging concerns over the high growth seen in the consumer cre...

  Private lender  Yes Bank  has hiked the fixed deposit interest rate on selected tenure for deposits below  ₹ 2 crore. After the latest revision, the bank offers interest rates between 3.25% to 7.75% to general citizens, and 3.75% to 8.25% to senior citizens on FDs maturing in seven days to ten years, according to the Yes Bank's website. The revised FD rates have been effective from November 21, 2023. Yes Bank will now pay a 7.25% rate on FDs maturing in one year , 7.50% on one year to less than 18 months, and 7.75% on deposits maturing in 18 months < 24 months 15 days to 45 days 3.70% 46 days to 90 days 4.10% 91 days to 120 days 4.75% 121 days to 180 days 5.00% 181 days to 271 days 6.10% 272 days to < 1 year 6.35% 1 year 7.25% 1 year 1 day to < 18 months 7.50% 18 month < 24 months 7.75% 24 months to < 36 months 7.25% 36 months to < 60 months 7.25% 60 months 7.25% 60 months 1 day to <= 120 months 7% ICICI Bank  latest FD rates ICICI Bank is...

  RBI increases risk weights on unsecured consumer loans to address systemic risk, consumers should be cautious and exercise financial prudence. RBI has recently increased the risk weights on unsecured consumer loans To address the escalating systemic risk arising from the extraordinary expansion of unsecured retail loans, and the accompanying apprehensions, the  Reserve Bank of India (RBI)  has recently increased the risk weights on unsecured consumer loans like credit cards by 25 percent for both banks and Non-Banking Financial Companies ( NBFCs ).  Unsecured loans are those that are not backed by any collateral, such as personal loans or credit card debt. The RBI's order requires the  lenders  to put in place additional security measures to protect consumers from fraud and identity theft. In light of this, consumers should ensure they have a thorough understanding of the terms and conditions of any unsecured loan they consider taking. They should also re...