According to the latest data from the Reserve Bank of India, vehicle loans are growing at a rate of 22 percent year-on-year. The growth rate is likely to pick up with the onset of the festive season. this week’s lead story By Sanjay Kumar Singh And Karthik Jerome The importance of having a good credit score is emphasized before applying for this loan. It also explains the factors that affect loan eligibility and explores the advantages and disadvantages of fixed and floating rates. Reading this article will also help you make an informed choice while deciding on a lender.
second article by Namrata Kohli, Provides information about the growing popularity of Europe among Indian travelers. It provides information on travel costs, destinations and visa application procedures for Europe. gained practical knowledge Article Will help you prepare for your European adventure.
Health insurance should be purchased early. If left till the age of forty and fifty, customers may find it difficult to get a policy. If they do get one, they may face higher premiums or longer waiting periods for preexisting elements. If you are above 30 years, visit policybazaar.com table on health insurance premiums of major players.
If you want an all-in-one fund, consider buying a multi-asset fund, which must invest at least 35 percent of its portfolio in each of three market caps: large, mid and small. If you are planning to buy any fund from this category, have a look at Morningstar Review Of ICICI Prudential Multi-Asset Fund.
week number: 7.44%, retail inflation in July
According to data released by the statistics ministry, retail inflation rose to a 15-month high from 4.81 per cent in June to 7.44 per cent in July. This is the highest reading since May 2022 when inflation stood at 7.79 per cent.
The steep rise in vegetable prices has been attributed to the mismatch between demand and supply. The prices of other items, including pulses, spices and cereals, have also seen a rise.
Food prices, which form almost half of the consumer price index (CPI) inflation basket, have risen in the past two months, mainly due to erratic monsoon across the country. Tomato prices, a staple in Indian cuisine, soared by over 1,400 per cent in wholesale markets during the past three months.
However, core inflation eased to a 21-month low of 5.1 per cent in July 2023.
The latest inflation readings mean that interest rates may not be cut anytime soon. If food inflation persists for a longer period, there is a risk of it moving towards generalized inflation, leading to a rate hike. Borrowers hoping for some respite on the interest rate front will have to brace themselves, save more and prepay their loans whenever possible.