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News on Medial
Widening gap between income and housing rents makes life tough for salaried Indians
Money Control
·
1y ago
Medial
Rising rentals in Bengaluru, especially in areas near tech parks and office complexes, are causing a cost of living crisis as salaries struggle to keep up. As companies resume office work, an influx of migrants has increased rental demand, leading to a supply crunch. Rentals in Bengaluru are now comparable to prime locations in Mumbai, with some areas commanding rents of up to INR 2 lakhs. Similar situations are observed in other metropolitan cities like Delhi-NCR. The rising cost of rentals is making it increasingly challenging for millennials and Gen Z to find affordable housing.
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LIC Housing Finance reduces interest rate in line with recent RBI repo rate cut
Economic Times
·
1m ago
Medial
LIC Housing Finance has reduced its interest rate on new home loans by 50 basis points, aligning with the recent RBI repo rate cut. This change makes new home loan interest rates start at 7.50%, effective June 19, 2025. The reduction aims to benefit new home loan customers, enhance affordability, and boost housing demand, particularly in affordable and mid-income segments. The move coincides with LIC Housing Finance's 36th Foundation Day and supports RBI's economic stimulus efforts.
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95% of Indian IT leaders believe generative AI soon have big role at their firms: Report
Economic Times
·
1y ago
Medial
According to the enterprise software major Salesforce, 87% of IT leaders in India said that the role of AI in their organisations is well-defined. The report highlighted trends impacting IT organisations, such as shifting approaches to application development, the widening gap between IT services demand and supply, and the transformative impact of automation and artificial intelligence.
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US Holds $2.53T in Tech as VCs, Pfizer, Bayer Pursue Chinese Biotech; NSCEB Urges Independence Fund | DeepNewz US Domestic Policy
Business Bytes
·
2m ago
Medial
The U.S. tech sector showcases dominance with a valuation of $2.53 trillion across 690 major companies, significantly outpacing the EU's $333 billion across 107 firms. The gap between the U.S. and Europe is widening, as America aggressively advances in technology, while China is preparing to compete. Europe, on the other hand, seems to lag behind, struggling to keep pace with the rapid technological progress seen elsewhere.
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Nivara Housing Finance Bags $10 Mn From Baring PE India
Inc42
·
1y ago
Medial
Mumbai-based housing finance startup Nivara Home Finance has raised INR 82.4 crore ($10 million) in a funding round led by Baring Private Equity India. Nivara, which offers small-ticket housing loans to micro-entrepreneurs and salaried professionals, plans to use the funding to fuel its expansion and growth strategies. The company currently operates in five states across India and has assets under management worth INR 500 crore. The affordable housing finance sector in India is set for significant growth, with Nivara's commitment to underserved segments positioning it well for the future.
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World may have its first trillionaire in a decade. Here's a list of probables
Livemint
·
1y ago
Medial
According to a report by Oxfam International, the world may see its first trillionaire within the next decade if inequality continues to worsen. The report states that ending poverty, a target set by the UN for 2030, may not be achievable for another 229 years. The report also highlights the widening gap between the rich and the poor, with the world's five wealthiest individuals doubling their wealth since 2020. Oxfam calls for measures such as breaking up monopolies and implementing wealth taxes to address this inequality.
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Regulating The Premier League: UK meddles with a $10 billion export earner
Money Control
·
1y ago
Medial
The English Premier League is set to undergo a significant change in governance with the introduction of an independent regulator. The bill aims to give fans a stronger voice in club management, ensure financial sustainability, and prevent closed-shop competitions. The Premier League's financial success has been driven by broadcasting rights, commercial sponsorship, and influx of billionaire investors, but this has also led to inflated ticket prices and a widening financial gap between clubs. The new regulator aims to address these issues and strike a balance between the interests of fans and investors.
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Filing income tax returns? You are not eligible for ITR-1 if…
Money Control
·
1y ago
Medial
With the due date for filing income tax returns approaching, it's important for individual taxpayers to gather the necessary documents and choose the correct ITR form. ITR-1 is suitable for salaried individuals or pensioners without any income from business or profession, but there are eligibility criteria to consider. If your income exceeds Rs 50 lakh, you have income from business or profession, own multiple house properties, or have foreign income or assets, you may need to use ITR-2. Those with income from business and profession will need to determine whether ITR-3 or ITR-4 is applicable.
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Multiples PE-backed Vastu Housing raises fresh capital from foreign investor
VCCircle
·
1y ago
Medial
Multiples Private Equity-backed mortgage lender, Vastu Housing Finance Corporation, has secured funding from an international development finance body to cater to the housing credit needs of low-income groups and women. The Mumbai-based firm aims to address the demand for housing finance that specifically targets women. Vastu Housing Finance Corporation focuses on providing mortgages for affordable homes.
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Why you should file your income tax returns before July 31
Money Control
·
1y ago
Medial
Filing income tax returns (ITR) within the deadline is crucial to avoid penalties and legal complications. The due date for salaried individuals and taxpayers without audit requirements is July 31. It is a legal obligation for individuals whose income exceeds the maximum exemption limits set by the Income Tax Department. Filing ITR serves as an official record of income and taxes paid, helping with loans and financial transactions. Late filing can result in penalties, so it is important to understand and meet the deadlines.
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Why consumer firms are lagging benchmark indexes in India's sizzling stock market
VCCircle
·
1y ago
Medial
Consumer stocks in India's booming economy are underperforming benchmark stock indexes. Despite double-digit gains, consumer firms selling everyday goods are struggling due to low income growth and volatile inflation impacting demand. Meanwhile, luxury goods are selling well. Private consumption, which contributes to 60% of economic growth, is expected to grow at the slowest rate in two decades. The wealth gap is also widening in India, with the richest 1% accumulating the highest concentration of wealth in six decades. This trend suggests that the premium segment, which sells high-end products, is experiencing growth while the broader consumer sector remains weak.
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