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Friday, November 7, 2014
Google Nexus 6 India price is Rs 44,000 for 32GB
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Posted by earnonline at 6:32 AM 2 comments Post a comment
Labels: Google, Mobile Phone, Technology
Tips to use your ATM effectively
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Understanding New RBI ATM Transaction Rules:
According to the Reserve Bank of India guidelines, all savings bank account holders in metropolitan cities would be allowed five transactions from ATMs of their banks inclusive of cash withdrawals, mini statement and change of personal identification number or PIN number or balance enquiry. The RBI guidelines though initially restricted free transactions to three per month when using ATMs of other banks effect from 1st November 2014, later there was a relaxation to the policy allowing banks to fix their stipulated free ATM transactions. Since RBI has indicated that it has laid down guidelines for minimum free ATM transactions per month for people living in six metropolitan cities including Mumbai, Delhi, Bengaluru, Chennai, Hyderabad and Kolkata, the final decision on decided the upper limit in the number of free bank ATM transactions lie with the respective banks. The number of free transactions from non-home ATMs is also reduced to three.
Restricting ATM Usage to Increase Bank Footfall and Online Transactions:
ATMs were introduced in an attempt to ease the footfall and rush in the banks allowing people an effective and easy way to withdraw and deposit cash. Now with the free ATM usage restrictions being streamlined, experts feel that it would mean going to the olden days when banks were crowded and even a small banking transaction like withdrawing money would mean visiting the bank branch and standing in a queue, especially the middle aged individuals and seniors are reluctant to use online medium. On the other hand with banks churning out high expenses for managing their ATMs across the country by employing security guards and security cameras and other expenses to avoid theft and robbery attempts, limiting the number of free transactions may not entirely be an unjustified move, and banks will have to release part of this burden to users.
Banks Move:
Following the guidelines SBI has announced their decision to levy charges for above 5 ATM usages a month, while the charges are not revealed. Other banks in both the public and private sectors are still to make decisions regarding this and are in a wait-n-watch mode. Though they are yet to make a decision on the fee, banks are likely to adopt a decision soon and reviewing the patterns, as they have the permission from RBI and also as an attempt to balance the expenses they are facing in maintaining ATMs. Compared to private sector banks, the public sector banks are likely to come up with quick decisions in this regard, as already some banks like the Bank of India has commented about this to media. But some sources reveal that HNI clients of banks may be freed from this charging.
A Little Care to Save:
Forthe metroites it is time to change their ATM usage habit as sooner or later the banks may embrace the new RBI guidelines. Here are some tips for individual account holders to minimize their bank ATM usage and avoid payment on an ATM usage fee for exceeding the free usage limit.
Restrict ATM usage: A lot of people visit the ATM located outside their bank branch for cash withdrawals. If you are having this habit for convenience, or if other bank ATM is located close to your office, it is time to change your way. Also, next time when you are about to withdraw a good chunk of money, use the teller’s service inside the branch instead of ATM.
Do not use ATM for mini statement or balance enquiry: Many people have the habit of using ATMs for checking the account balance or getting access to their account mini statement while on the go. And there can be many unwanted visits, especially if you have an ATM close to your office. While technology is making a convenient checking option at your finger tips, using Smartphones and tablets, isn’t it sensible to acoid this old habit? Instead of checking statement or account balance from an ATM get access to online or mobile banking for getting a complete insight into your account. People using Smartphone can install the official bank application of their bank and check their account balance and statement while on the move.
Avoid cash transactions: Prevention is better than cure goes the famous saying. Try avoiding cash transactions wherever possible. Opting any from the multiple other methods of payments like using credit cards, debit cards, cheque or NEFT to make sure you limit the number of ATM transactions per month.
Posted by earnonline at 6:17 AM 8 comments Post a comment
Labels: ATM, Banking News, RBI
Thursday, May 29, 2014
Sensex crashes over 300 pts, Nifty below 7250; IT plunges
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Wonderla Holidays expects margins to be stable from hereon, says Arun K Chittilapilly, MD of the company. The company reported margins of around 41 percent and a net profit of around 60 percent at Rs 7.2 crore year-on-year. In the near-term, the company hopes to continue with its growth momentum due to reduction in cost from mature projects. The amusement park operator does not foresee any margin pressure for another couple of years, says Chittilapilly. Chittilapilly also says that the annual ticket price hike of around 10 percent for the amusement parks is unlikely to impact the business of the company given the base fare of the tickets is low. "If our ticket prices were Rs 1,000-1,500 then 10 percent hike would have made it a lot more expensive. However, as it stands now, we feel our ticket prices are pretty reasonable. So a 10 percent hike will not affect footfalls and that is at least what we have seen," he adds. Currently, the company has a debt of around Rs 15 crore.
Ever since Narendra Modi took charge as the Prime Minister of India on Monday, market has been consolidating, indicating caution ahead of a couple of big events lined-up in the next few weeks. The Reserve Bank of India policy on June 3 and the Union Budget are the key events to watchout. Sanjay Sachdev, chairman, Zyfin Capital believes market has not fizzled out as the Sensex has moved from 21000 to 24000, gaining almost 15 percent. However, he says foreign investors haven’t participated fully and are still waiting for a very big opportunity like resolving of the Vodafone tax issue, which may restore some confidence among them.
Posted by earnonline at 3:18 AM 2 comments Post a comment
Parliament session to be held from June 4 to June 12
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Sources say former Parliamentary Affairs Minister Kamal Nath is likely to be the protem Speaker and will give oath to the new members of the Lok Sabha.
The Modi government is also expected to outline the government's top ten priorities on Thursday. Prime Minister Modi is also expected to address the nation on his policies. Modi has asked his ministers to be careful in terms of appointing people in their staff especially to ensure that no relatives are appointed. Sources say that Modi is keen to give out a message that he doesn't believe in dynasty or promoting relatives.
Modi has also directed his ministers to be careful while addressing the media. They have been asked to stick only to issues which are related to their respective ministries.
Posted by earnonline at 3:16 AM 1 comments Post a comment
Labels: Narendra Modi, Parliament
HPCL jumps 4%: Will subsidy burden become nil in FY15?
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Bank of America Merill Lynch retains buy on it with a target of Rs 455 per share. It says that FY14 witnessed decline in loss of refining subsidiary and there was a rise in EPS despite 108 percent Y-o-Y jump in net subsidy bearing of Rs 480 crore. Its gross refining margin (GRM) was strongest in fourth quarter at USD 4.7/bbl. However, Barclays is underweight on the stock with a price target of Rs 250. “Consolidated EPS was 38 percent lower, likely hurt by losses in Bhatinda and Biofuels. HPCL’s investments and organic capex have yielded little over the last decade even as it looks to expand further – it announced USD 3 billion in additional refining expansions- weighing on returns further,” it said in a note.
At 11:40 hrs, the stock was quoting at Rs 416.80, up Rs 8.30, or 2.03 percent on the BSE.
Posted by earnonline at 3:09 AM 2 comments Post a comment
Labels: Annual Results, HPCL, Quarterly Results, Results
Wednesday, May 21, 2014
Five-fold rise in Q4 profit lift Essar Oil shares 19%.
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Total income grew nearly 7 percent to Rs 25,274 crore in March quarter from Rs 23,650 crore in the quarter gone by. Gross refining margin improved to USD 10.12 a barrel as against USD 9.06 a barrel year-on-year. "Operationally we continue to do well with the refinery further optimising on its crude diet and product slate, which has resulted in the company delivering healthy GRMs," says LK Gupta, managing director and CEO. Earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 32 percent to Rs 2,053 crore from Rs 1,556 crore year-on-year. Essar Oil reported a foreign exchange gain of Rs 314 crore during January-March quarter. During the same period, finance cost declined significantly to Rs 694 crore from Rs 920 crore. At 12:50 hours IST, the stock was quoting at Rs 88, up 13.40 percent amid high volumes on the BSE. Posted by Sunil Shankar Matkar
Posted by earnonline at 3:29 AM 3 comments Post a comment
Labels: Annual Results, Essar Oil, Quarterly Results, Results
Gati surges; Macquarie buys stake from open market
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Gati was trading up 7.2 percent as of 11:11 a.m.
Posted by earnonline at 3:27 AM 3 comments Post a comment
Labels: Gati Ltd, Macquarie Bank