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<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s <keyword id="23127366" type="General" weightage="20" keywordseo="consumption-loan" source="Orion">consumption loan</keyword> portfolio grew by 15.2% year-on-year (YoY) to Rs 90.3 lakh crore as of March 2024, according to the latest <keyword id="6354680" type="General" weightage="20" keywordseo="credit" source="Orion">credit</keyword> bureau report. The fourth edition of the CRIF High Mark report noted a slowdown from the 17.4% growth recorded in March 2023, largely due to a deceleration in the home <keyword id="6362287" type="General" weightage="100" keywordseo="loans" source="Orion">loans</keyword> segment, which accounts for 40.1% of the overall consumption loan portfolio by value. The home loans portfolio saw growth slowing down to 7.9 % YoY in FY24, from the 23 % expansion seen in FY23. This was mainly due to muted growth in "originations", which increased by 9.2 % in FY'24 compared to 18.2 % in the previous fiscal year. Origination refers to the process by which a lender creates or initiates a new loan or credit, including evaluating, processing, and approving a borrower's application. The report finds a shift toward higher <keyword id="6871589" type="General" weightage="20" keywordseo="ticket-size" source="Orion">ticket size</keyword>s, with a growing preference for loans above Rs 35 lakh, although the average ticket size (ATS) rose by 32% from Rs 20.1 lakh in FY20 to Rs 26.5 lakh in FY24. In contrast, the personal loans segment maintained strong momentum, growing by 26% YoY in FY24, despite recent regulatory reforms. Larger ticket loans of Rs 10 lakh and above increased their share in originations by value, while loans under Rs 1 lakh continued to dominate in volume. Banks led in value-based originations, whereas non-banking financial companies (NBFCs) remained dominant in volume. Two-wheeler loans experienced a 34% YoY growth in FY24, up from 30% in FY23, fueled by a shift to higher ticket-size loans. However, the overall volume of originations grew at a slower pace of 13% in FY24 compared to 32% in FY23. <keyword id="35527" type="General" weightage="20" keywordseo="auto-loans" source="Orion">Auto loans</keyword>, on the other hand, grew by 20% YoY in FY24, compared to 22% in FY23. Consumer durable loans posted a robust growth of 34% YoY in FY24, up from 26% expansion in the previous fiscal. This growth was driven by a shift to larger ticket sizes, although origination volumes grew by only 8.5% in FY24, compared to 38.2% in FY23. The MSME lending segment displayed mixed results, with individual MSME loans growing faster than entity MSMEs. The individual MSME portfolio increased by 29% YoY in FY24, accelerating from 15% in FY23, while entity MSME loans grew by just 6.6 % YoY, a sharp slowdown from 17.2 % in the previous year. Microfinance lending also saw strong growth, with the portfolio rising by 27% YoY in FY24, compared to 21% in FY23. "The resilience of the Indian credit market is evident in the strong performance across various lending categories and the stability in delinquencies. Home loans remain dominant, but the growth in personal loans, two-wheeler loans, and the rebound of NBFCs highlight significant shifts in the lending landscape," CRIF High Mark MD Sanjeet Dawar said.

Consumption loan portfolio expands 15% to Rs 90 lakh crore in FY24, notes CRIF report

<ul><li>Corporate loan growth originations grew in lower single digits in FY23.</li><li>Investment announcements in 2023 were at their lowest since 2018, excluding 2020.</li><li>Auto, home and other consumption loans saw sharp growth, led by <keyword id="20026653" type="General" weightage="20" keywordseo="personal" source="keywords">personal</keyword> loans. </li></ul>Large corporates are still not driving India’s credit growth as private capital expenditure is yet to pick up pace. While consumption, MSME and microfinance loans’ originations volume grew in double digits between FY22 and FY23, corporate loan growth was at a mere 2.4%, as per <keyword id="19994500" type="General" weightage="20" keywordseo="crif" source="keywords">CRIF</keyword> High Mark’s report on ‘How India Lends’. Investments by companies have remained in the slow lane even in FY24, according to a report by <keyword id="19920717" type="General" weightage="20" keywordseo="bank-of-baroda" source="keywords">Bank of Baroda</keyword>. In the first three quarters of FY24, investments to the tune of ₹10.80 lakh crore were announced. Most of these announcements were dominated by airlines, power, chemicals and machinery. Bank of Baroda in a report said that 2023’s investment announcements, most of which might not materialize, are at the lowest since 2018. That however excludes 2020, when Covid-19 induced lockdown was in-effect. “Data on new investment announcements do indicate that industry in general is still in a wait and watch mode. One factor holding back investment could be excess capacity in several sectors. <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword> data for June shows the average at 73.6%,” said economists at Bank of Baroda. Apart from this, uncertainty due to the elections could have played a role in companies being tight fisted. “The third factor could be high interest rates and the expectation of repo rate cuts next year in the second quarter of the fiscal,” the economists added. The consumption loan boom On the other hand, consumption loans that include home loans, auto loans, personal loans etc, grew the fastest at 37.7% in FY23. Within consumption, personal loans saw the sharpes growth, followed by consumer durable loans. Public and private sector banks give a large chunk of home loans. “There is a 22% increase in average ticket size (ATS) from ₹20.2 lakh in FY20 to ₹24.7 lakh in FY23. There has been a shift in originations by both value and volume seen from ticket size ₹5-35 lakh to ₹35-75 lakh,” said CRIF. Housing finance companies and PSU banks lead ticket size bands under ₹75L, while private banks lead the over ₹75 lakh ticket size loan market. Loan origination growth (FY22 to FY23) <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumption Loan Type </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Portfolio size </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Origination value growth </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Origination volume growth </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Home Loans </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30.7 lakh crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Personal Loans </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10.9 lakh crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Two-Wheeler Loans </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.1 lakh crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50.3% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35.3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Auto Loans </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5.9 lakh crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37.6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer Durable Loans </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹0.5 lakh crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32.8% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37.5% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: CRIF *Portfolio as of June 2023 Fintechs lead personal loan growth Personal loans are dominated by public sector banks and private banks by value; and NBFCs by volume. Loan originations grew twice over in both value and volume from FY20 to FY23. “Fintechs lead the growth in small ticket and small tenor loans. Their share in originations volume for ticket size under-₹25,000 loans went up to 75% in FY23 from 67% in FY20,” said CRIF. MSME and microfinance loan originations volume grew 20.8% and 16.6% respectively, as per the CRIF report. "MSME lending experienced substantial percentage growth in originations by value, with the micro segment being the largest contributor. These trends, combined with an encouraging improvement in delinquencies, thus, reflect the resilience of the Indian economy,” said <keyword id="20372020" type="General" weightage="20" keywordseo="sanjeet-dawar" source="keywords">Sanjeet Dawar</keyword>, MD of CRIF High Mark.

India’s corporates in ‘wait and watch’ mode as consumption loans zoom

<ul><li>Indians are taking more personal and <keyword id="1897540" type="General" weightage="20" keywordseo="consumer-durable-loans" source="Orion">consumer durable loans</keyword>, boosting the overall growth of retail credit in the country.</li><li>Personal and consumer durable loans almost doubled between FY19 and FY22, despite a lull for two years due to Covid-19.</li><li>Tier 2 and lower cities and districts have joined the party, with home loans seeing a surge in these areas due to WFH.</li></ul>Indians are taking more <keyword id="35520" type="General" weightage="100" keywordseo="personal-loans" source="Orion">personal loans</keyword> and buying consumer products on credit than ever before, according to a new report by credit bureau <keyword id="2509365" type="General" weightage="80" keywordseo="crif-high-mark" source="Orion">CRIF High Mark</keyword>. Personal loans, consumer durable loans and business loans carry relatively higher risk for lenders, when compared to home and auto loans. Despite this, personal and consumer durable loans grew at a high CAGR of 25% between FY19 to FY22 – almost doubling in this period, according to a report by Kotak Institutional Equities. Overall, the total lending market in India stood at ₹174.3 lakh crore in FY22, with the retail segment accounting for 48.9% of it. While the overall lending market grew 11.1% in FY22, it has capped off the sluggish growth in FY20 and FY21 – two years highly impacted by Covid-19 and the lockdowns. “FY22 witnessed tremendous growth in new loan originations across retail, microfinance and commercial loans. This resurgence in the credit landscape signals economic recovery and is extremely encouraging,” said Sanjeet Dawar, Managing Director, <keyword id="2302542" type="General" weightage="20" keywordseo="CRIF" source="Orion">CRIF</keyword> High Mark. <cmsannotation type="cmsannotation" annotationid="Economic recovery sounds good, so why are personal loans surging?" comment="subhead" text="Economic recovery sounds good, so why are personal loans surging?">Economic recovery sounds good, so why are personal loans surging?</cmsannotation> An economic recovery sounds like a positive development, but the surge in personal and consumer durable loans might also be hinting at another problem. A surge in these two loan segments suggests people are conserving cash, so they are taking loans and buying products on EMIs to ensure they have enough liquidity. On a positive note however this also suggests two other things – there is a revival in consumer demand, and that people are optimistic about their cash flows, giving them the confidence that they can repay loans on time. “Early warning indicators are at a comfortable level today across all loan segments. Delinquency levels in high-risk segments like consumer durables, personal loans and credit cards are also at a comfortable level today, indicating no reason to be concerned today,” the Kotak report added. This means that both lenders and borrowers are placed securely, and overdue loans are within a comfortable range. <cmsannotation type="cmsannotation" annotationid="Revenge shopping is adding to the surge – and Tier 2+ cities are joining the party" comment="subhead" text="Revenge shopping is adding to the surge – and Tier 2+ cities are joining the party">Revenge shopping is adding to the surge – and Tier 2+ cities are joining the party</cmsannotation> Another factor at play is revenge shopping – lockdowns and Covid-19 restrictions resulted in muted festivities for two years, but everything has opened up in 2022.<a href="https://www.businessinsider.in/business/ecommerce/news/online-festival-sales-likely-to-be-28-higher-than-pre-covid-levels-at-11-8-billion-report/articleshow/94076810.cms"> Experts believe online festival sales could be 28% higher</a> than pre-Covid levels, which suggests that people are itching to shop. Joining the party are people from Tier 2, 3 and 4 cities. “We are forecasting 4x growth in the number of online shoppers from 2018. This growth has been driven by accelerated digital adoption and increasing penetration in Tier 2+ cities,” said Sanjay Kothari, associate partner, Redseer Strategy Consultants. Better yet, this surge is not limited to personal or consumer durable loans – home loans, which have much higher ticket sizes and are relatively less risky than personal loans, have also seen an increase in T3 and T4 districts. According to a<a href="https://www.businessinsider.in/finance/news/home-loans-growing-at-a-faster-rate-in-tier-3-and-4-districts-thanks-to-wfh-sbi-report/articleshow/94393267.cms"> report by SBI</a>, T3 and T4 districts account for 36% of fresh disbursals in FY22, up from 32% in FY19 – thanks to a boom in Work from Home, freelance jobs, and a renewed focus on work-life balance. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/credit-suisse-is-in-trouble-but-this-is-not-2008-investors-remain-wary-of-the-all-is-well-soundbites/articleshow/94641570.cms">Credit Suisse is in trouble, but this is not 2008 – investors remain wary of the ‘all is well’ soundbites</a> <a href="https://www.businessinsider.in/business/auto/news/auto-sales-remain-buoyant-in-september-with-reports-of-a-good-festive-season-ahead/articleshow/94622721.cms">Auto sales remain buoyant in September with reports of a good festive season ahead</a> <a href="https://www.businessinsider.in/stock-market/news/heres-all-you-need-to-know-about-suzlon-energys-1200-crore-rights-issue-after-founder-tulsi-tantis-death/articleshow/94617068.cms">Here’s all you need to know about Suzlon Energy’s ₹1,200 crore rights issue after founder Tulsi Tanti’s death</a>

Indians are taking more personal loans, buying consumer goods on credit, says report

<ul><li>A <keyword id="6380214" type="General" weightage="20" keywordseo="credit-score" source="Orion">credit score</keyword> is an important metric that helps in getting <keyword id="6362287" type="General" weightage="20" keywordseo="loans" source="Orion">loans</keyword> and <keyword id="6387037" type="General" weightage="20" keywordseo="credit-cards" source="Orion">credit cards</keyword>.</li><li>A credit score indicates the creditworthiness of an individual to lenders and potential employers.</li><li>Here are the factors that affect your credit score and how you find your <keyword id="15721037" type="General" weightage="20" keywordseo="credit-score-for-free" source="Orion">credit score for free</keyword>.</li></ul>A credit score is important when applying for a loan or credit card. Employers also often consider it to check the financial stability of existing and prospective employees. Now that you know that a credit score is important, you must think about what a credit score is and how it is calculated. <cmsannotation type="cmsannotation" annotationid="What is a credit score?" comment="subhead" text="What is a credit score?">What is a credit score?</cmsannotation> A credit score is a rating between 300 to 900 given by credit bureaus like TransUnion <keyword id="6380215" type="General" weightage="80" keywordseo="cibil" source="Orion">CIBIL</keyword>, Experian, <keyword id="2302542" type="General" weightage="100" keywordseo="crif" source="Orion">CRIF</keyword> High Mark, and others that help identify a user’s creditworthiness. A person with a higher credit score can avail loans at a cheaper interest rate or get a higher credit limit. <cmsannotation type="cmsannotation" annotationid="What are the factors considered to calculate your credit score?" comment="subhead" text="What are the factors considered to calculate your credit score?">What are the factors considered to calculate your credit score?</cmsannotation> Several factors are considered while your credit score is calculated. Here are the top factors that may have an impact on your credit score – <ul><li>Your payment history</li><li>Number of loans and credit cards you have</li><li>Credit utilization</li><li>Recent credit inquiries on your account</li><li>Length of your credit history</li><li>Types of credit availed</li></ul><cmsannotation type="cmsannotation" annotationid="How to check your credit score?" comment="subhead" text="How to check your credit score?">How to <keyword id="15721036" type="General" weightage="20" keywordseo="check-your-credit-score" source="Orion">check your credit score</keyword>?</cmsannotation> It is important to keep track of your credit score to ensure that you have not done anything to adversely affect it. Several applications and websites allow you to check your credit score for free. Do note that each credit bureau has a different methodology for calculating your credit score, meaning your credit score will be different on each report. <cmsannotation type="cmsannotation" annotationid="Credit bureaus" comment="subhead" text="Credit bureaus">Credit bureaus</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Get a free CIBIL report" comment="subhead" text="Get a free CIBIL report">Get a free CIBIL report</cmsannotation> CIBIL allows users to get a free credit report once a month using its website, allowing you to keep track of your credit score. <ul><li>Go to CIBIL’s <a href="https://www.cibil.com/">website</a>.</li><li>Click on “GET FREE CIBIL SCORE &amp; REPORT.”</li><li>Now, create an account by entering your personal information.</li><li>Confirm your identity and enter your PAN.</li></ul>You will receive your credit report in the email you signed up with. <cmsannotation type="cmsannotation" annotationid="Get a free Experian report" comment="subhead" text="Get a free Experian report">Get a free Experian report</cmsannotation> You can also check your credit score on Experian for free. <ul><li>Go to Experian’s <a href="https://www.experian.in/consumer-services">website</a>.</li><li>Click on “Free Credit Score.”</li><li>Now, enter your phone number and click on “Send OTP.”</li><li>Enter the OTP and click on “Verify.”</li><li>Enter your personal details and click on “Get Report.”</li></ul>You will receive your credit report in your email. <cmsannotation type="cmsannotation" annotationid="Get free CRIF report" comment="subhead" text="Get free CRIF report">Get free CRIF report</cmsannotation> You can also get your free CRIF report from the bureau’s website. <ul><li>Go to the CRIF High Mark <a href="https://www.crifhighmark.com/">website</a> and click “Get your score now.”</li><li>Enter the required details and click on “GET MY CREDIT SCORE.”</li></ul>You will receive your credit report by email. If you do not wish to use the websites of these credit bureaus to check your score, you can also use the below applications to check your credit score for free. <cmsannotation type="cmsannotation" annotationid="Check your credit score for free on WhatsApp" comment="subhead" text="Check your credit score for free on WhatsApp">Check your credit score for free on WhatsApp</cmsannotation> Experian has launched a new service that allows you to use WhatsApp to check your credit score for free. <ul><li>Click on the <a href="https://api.whatsapp.com/message/ZF22WUR5A54MC1?autoload=1&amp;app_absent=0">Experian API</a> link from your phone and tap on send.</li><li>Now, click on “View Credit Report.”</li><li>Now, enter your name and tap on send.</li><li>Then, enter your email ID and click on send.</li><li>Click “Yes” if your mobile number is registered to your credit account.</li><li>If not, click “No” and share your registered number.</li><li>Then, click “Send OTP “ and enter the OTP you received.</li></ul>You will receive your credit report in your email. <cmsannotation type="cmsannotation" annotationid="Check CIBIL and Experian score for free on OneScore" comment="subhead" text="Check CIBIL and Experian score for free on OneScore">Check CIBIL and Experian score for free on OneScore</cmsannotation> OneScore, an app developed by FTL Technologies, allows you to check your CIBIL and Experian scores for free once a month. <ul><li>Download the OneScore app from the <a href="https://play.google.com/store/apps/details?id=tech.fplabs.score&amp;hl=en_IN&amp;gl=US">Play Store</a> or the <a href="https://apps.apple.com/in/app/onescore-credit-score-insight/id1462059417">App Store</a>.</li><li>Open the app and enter the required details, including your phone number and PAN.</li></ul>Once you have entered all the required details, your credit score will be fetched, and you can view important information on the OneScore app. Your credit reports will be sent to your email. <cmsannotation type="cmsannotation" annotationid="Check your Experian and CRIF score for free on CRED" comment="subhead" text="Check your Experian and CRIF score for free on CRED">Check your Experian and CRIF score for free on CRED</cmsannotation> Popular fintech Cred is another app that allows you to check your credit score for free. <ul><li>Download the CRED app from the <a href="https://play.google.com/store/apps/details?id=com.dreamplug.androidapp&amp;hl=en_IN&amp;gl=US">Play Store</a> or the <a href="https://apps.apple.com/in/app/cred-credit-card-bill-payment/id1428580080">App Store</a>.</li><li>Enter your mobile number and other personal information.</li><li>CRED will fetch your Experian and CRIF credit reports for free.</li></ul>You will be able to view your credit score on CRED, and you will receive the credit reports in your email. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/what-is-chatgpt-and-how-does-it-work/articleshow/95994901.cms">ChatGPT is a new AI chatbot that can find mistakes in your code or write a story for you</a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-fold-the-companys-foldable-phone-could-soon-become-a-reality-as-it-appears-on-geekbench-ahead-of-its-launch-next-year/articleshow/96021605.cms">Google Pixel Fold, the company’s foldable phone, could soon become a reality as it appears on Geekbench ahead of its launch next year</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-introduces-the-message-yourself-feature-working-on-voice-status-updates-and-more/articleshow/95851566.cms">WhatsApp introduces the “Message Yourself” feature, working on voice status updates and more</a>

How to find your CIBIL, Experian and CRIF credit score for free

<ul><li>Average balance per account witnessed quarterly growth of 0.8% and grew 5.2% Y-oY as of December 22, 2023. </li><li>The top 10 states constituted 84.6% of the gross loan portfolio as of December 2022. </li><li>Portfolios of ticket size ₹50,000-₹75,000 witnessed Y-o-Y growth of 45%.</li></ul>The growth in <keyword id="12055556" type="General" weightage="20" keywordseo="microfinance-lending" source="Orion">microfinance lending</keyword> in the <keyword id="84064" type="General" weightage="20" keywordseo="rural-market" source="Orion">rural market</keyword> outpaced that of urban markets according to data from CRIF High Mark. While rural markets grew 23.8% annually as of December 2022, the same in urban markets was at 14.6%. The Indian <keyword id="113684" type="General" weightage="80" keywordseo="microfinance" source="Orion">microfinance</keyword> lending sector witnessed a quarterly (September to December) growth of 5.5% and an annual growth of 20% as of December 2022, says the quarterly publication MicroLend by CRIF High Mark. This sector’s live customer base grew by 4.8% and 11.9%, on a quarterly and annual basis, respectively. <cmsannotation type="cmsannotation" annotationid="Average balances and lender exposure" comment="subhead2" text="Average balances and lender exposure">Average balances and lender exposure</cmsannotation> In December 2022, there was a quarterly growth of 0.8% and a year-on-year growth of 5.2% in the average balance per account, while the average balance per borrower saw a quarterly growth of 1% and a year-on-year growth of 8.5%. Additionally, the report shows that 5.9% of borrowers have dealings with four or more lenders. Among the major states, Tamil Nadu has the highest proportion at 10.6%, while West Bengal has the lowest at 1.5%. <cmsannotation type="cmsannotation" annotationid="How the geographical regions fare" comment="subhead2" text="How the geographical regions fare">How the geographical regions fare</cmsannotation> As of December 2022, the gross loan portfolio (GLP) of the top 10 states accounted for 84.6% of the total. Uttar Pradesh, Bihar, and Karnataka experienced the highest quarterly growth rates of 11.1%, 9.0%, and 7.5%, respectively. The average balance per borrower for the top states Tamil Nadu, Bihar, and West Bengal was ₹53,600, ₹54,000, and ₹44,200, respectively. In terms of regional dominance, the microfinance sector was led by the Eastern region at 32%, followed by the South at 27% as of December 2022. <cmsannotation type="cmsannotation" annotationid="Portfolio: Lender type mix" comment="subhead2" text="Portfolio: Lender type mix">Portfolio: Lender type mix</cmsannotation> As of December 2022, <keyword id="6355260" type="General" weightage="100" keywordseo="nbfc" source="Orion">NBFC</keyword> microfinance institutions (MFIs) dominate the market with a portfolio share of 35.7%. NBFC MFIs saw a Q-o-Q growth in gross loan portfolio (GLP) of 7.5%, which is significantly higher than the 1.5% for banks and 5.6% for small finance banks (SFBs). In terms of year-on-year growth, NBFC MFIs had a growth of nearly 28.2%, while banks had a growth of 6.2% and SFBs had a growth of 17.5%. Loans with ticket sizes ranging from ₹30,000 to ₹50,000 accounted for 47.8% of NBFC MFIs' portfolio, as compared to 38.4% for banks and 49.7% for SFBs. <cmsannotation type="cmsannotation" annotationid="Portfolio: Ticket size mix" comment="subhead2" text="Portfolio: Ticket size mix">Portfolio: Ticket size mix</cmsannotation> The data indicates an increase in loans with higher ticket sizes. Portfolios with ticket sizes ranging from ₹50,000 to ₹75,000 saw a year-on-year growth of 45% and a quarterly growth of 9.6% as of December 2022. However, portfolios with ticket sizes greater than or equal to ₹15,000 witnessed a year-on-year decline of 27.2% and a quarterly decline of 2.4%. The share of portfolios with higher ticket sized loans of greater than ₹50,000 increased from 31.8% in December 2021 to 35.2% in December 2022. Moreover, as of December 2022, loans with a ticket size ranging from ₹30,000 to ₹50,000 had the highest share in both value (45%) and volume (42%). The share of loans with a ticket size between ₹50,000 and ₹75,000 increased from 18% in December 2021 to 22% in December 2022. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/us-visa-rules-ease-now-h-1b-visa-holders-spouses-can-work-in-the-us/articleshow/99110481.cms">US visa rules ease: Now H-1B visa holders' spouses can work in the US</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/meet-the-tigers-elephants-rabbits-and-turtles-of-the-e-commerce-jungle/articleshow/99109220.cms">Meet the tigers, elephants, rabbits and turtles of the e-commerce jungle</a>

Microfinance lending shows strong growth in 2022, NBFC MFIs dominate the market

<ul><li>The top 10 states contribute a substantial 85.2% to the <keyword id="1959744" type="General" weightage="20" keywordseo="gross-loan-portfolio" source="Orion">gross loan portfolio</keyword> (GLP).</li><li>Average balance per borrower for Bihar, Tamil Nadu, and Uttar Pradesh were ₹27,200, ₹26,600, and ₹26,300 respectively.</li><li>The <keyword id="401725" type="General" weightage="20" keywordseo="microfinance-sector" source="Orion">microfinance sector</keyword> is predominantly dominated by the Eastern region, accounting for 32.7% of the market.</li></ul> As of March 2023, the microfinance sector has a total outstanding portfolio of ₹337.6 thousand crore, which reflects a 6.6% quarter-on-quarter (Q-o-Q) growth and a 17.9% year-on-year (Y-o-Y) growth. Non-banking financial companies (NBFCs) remain the dominant players in the market, holding a portfolio share of 37.3%, followed by banks at 33.1%, and small finance banks (SFBs) at 16.6%, according to the MicroLend, the quarterly publication on microfinance lending by credit Bureau CRIF Highmark. There has been an improvement in the PAR 30+ DPD (Portfolio at Risk with 30 or more days past due) from 3.8% in December 2022 to 2.2% in March 2023, the report adds. How the states performed The top 10 states contribute a substantial 85.2% to the <keyword id="6838489" type="General" weightage="20" keywordseo="gross-loan" source="Orion">gross loan</keyword> portfolio (GLP), with Bihar surpassing Tamil Nadu to become the leading state in terms of GLP. Uttar Pradesh, and Bihar have recorded the highest growth rates of 15.9%, 14.6%, and 13.5% respectively. When considering the average balance per borrower, Bihar, Tamil Nadu, and Uttar Pradesh have figures of ₹27,200, ₹26,600, and ₹26,300 respectively. The microfinance sector is predominantly dominated by the Eastern region, accounting for 32.7% of the market, closely followed by the Southern region at 27.0%. In terms of market concentration, NBFC microfinance institutions hold a significant share of 48.0% in the Central region, while SFBs have a concentration of 22.3% in the South. Portfolio ticket size growth The portfolio consisting of ticket sizes ranging from ₹50,000 to ₹75,000 has experienced a Y-oY growth of 40.3%, and a Q-o-Q growth of 12.2% as of March 2023. On the other hand, the portfolio with ticket sizes less than or equal to ₹15,000 has witnessed a Y-o-Y degrowth of 28.2% and a Q-o-Q degrowth of 16.2% during the same period. As of March 2023, loans falling in the ticket size range of ₹30,000 to ₹50,000 have the highest share in terms of both value and volume on a Y-oY basis, accounting for 47.5% and 45.4% respectively.

Bihar surpasses Tamil Nadu to top average borrower loans in the country

<ul><li>A <keyword id="524374" type="General" weightage="20" keywordseo="credit-report" source="Orion">credit report</keyword> is a very important document that gives a complete picture of your financial behaviour and good score can benefit borrowers in many ways. </li><li>It is advisable to check your credit report regularly, and as a best practice to review it on a monthly basis. </li><li>In the event you spot errors in your credit report, please reach out immediately to the <keyword id="680685" type="General" weightage="20" keywordseo="credit-bureau" source="Orion">credit bureau</keyword> from where you have pulled your report, requesting for a correction. </li></ul>A <keyword id="6380214" type="General" weightage="20" keywordseo="credit-score" source="Orion">credit score</keyword> is an individual’s credit report card and it determines not only eligibility but also the rate of interest you pay. It helps the lender gauge whether you can repay it or not. Lenders check your credit score and your credit report before deciding anything. Oftentimes, a loan that has been closed can also reflect on the credit report and sometimes a dispute with a lender can also affect your credit score. Consumers should monitor their scores and rectify errors say financial experts. “The credit report is a very important document that gives a complete picture of your finances exactly as the lender sees it,” says Adhil Shetty, CEO, BankBazaar. <cmsannotation type="cmsannotation" annotationid="Why your credit report matters" comment="subhead" text="Why your credit report matters">Why your credit report matters</cmsannotation> The credit report is an indicator of your ability to manage your financial life. It tells the lender how disciplined you are in handling credit as well as indicates your ability to repay any credit you have availed. It also provides a clear picture of all your existing liabilities. “All this enables the lender to make an informed decision on whether or not to extend further credit to you, and the terms and conditions at which it should lend,” says Shetty. Your credit report contains the details of current and closed loan accounts; account opening and closing dates and account status; your payment history; your outstanding balance; all the account details listed, especially the payment history; credit enquires; and your lenders’ details among other things. “An <keyword id="6420079" type="General" weightage="20" keywordseo="error" source="Orion">error</keyword> in any of this data can have a big impact on your credit worthiness. Today, the credit score is directly linked to the interest rate,” says Shetty. If you have a good score, you can get the best rates in the market. However, if your score is poor, you may not be able to get a loan despite meeting all other eligibility criteria or be given a loan at a higher rate of interest. So it is essential that you check your credit report and your credit score on a regular basis. <cmsannotation type="cmsannotation" annotationid="How often should you check your credit report" comment="subhead" text="How often should you check your credit report">How often should you check your credit report</cmsannotation> In spite of due diligence done by banks and NBFCs, errors can creep into your credit report. Apart from errors related to personal details, other errors like days past due date, reporting of overdue amounts and so on can get reflected in your credit report and this would affect your credit score. “It is advisable to check your credit report regularly. A best practice is to review the reports on a monthly basis. This practice aids in identifying unusual activities or errors that might negatively affect your credit score,” says Sanjeet Dawar, managing director, CRIF High Mark, a RBI-licensed credit bureau. Keeping a close eye on your credit report can help you maintain a healthy financial profile. <cmsannotation type="cmsannotation" annotationid="How to correct errors if any" comment="subhead" text="How to correct errors if any">How to correct errors if any</cmsannotation> “In the event you spot errors in your credit report, please reach out to the credit bureau from where you have pulled your report immediately, requesting a correction. Raise a dispute with the credit bureau to initiate the process. It is also advisable to simultaneously connect with the lender in case of an error related to a specific credit line,” says Dawar. The credit bureau is not authorised to make any changes to the credit information report (CIR). “All disputes are sent to the reporting financial institution, which ascertains if the dispute is legitimate. The changes have to be authenticated by the concerned financial institution, following which, the credit report can be updated,” says Shetty. This process may take some time. “Once this is done, the bureau typically requires up to 30 days to resolve the issue. If the investigation confirms the error, you will then be provided with a revised report,” says Dawar. Make it a habit of checking your credit score on a regular basis, and if you find it has changed drastically, it is important to check your credit report and request for corrections if any.

Unhappy with your credit score? Here’s how you can check for errors and rectify

<ul><li><keyword id="819905" type="General" weightage="100" keywordseo="instagram" source="Orion">Instagram</keyword> shows a “seen” tag when you open a <keyword id="28483" type="General" weightage="80" keywordseo="message" source="Orion">message</keyword> sent by other users.</li><li>Sometimes you want to read a message without the other person knowing.</li><li>Here are some tricks to help you read Instagram messages without being seen.</li></ul>Instagram is one of the most popular platforms we use every day. In addition to sharing pictures and videos, the app allows you to chat with your friends. When you open a message sent by someone, it reveals that you have opened it by adding a “seen” tag below the message. Sometimes, you may not want to read the message without the other person knowing that you have opened the message. There are some tricks that can help you read Instagram messages without being seen. <cmsannotation type="cmsannotation" annotationid="Notifications" comment="subhead" text="Notifications">Notifications</cmsannotation> The easiest way to read Instagram messages without being seen is to do so from notifications. All you have to do is swipe down on the message sent by the user to view the message in detail. This may not work if the other person has sent many or very long messages. You can use “notification history” to check previous notifications if you have already removed the message notification. To do this, you must go to Settings and search “notification history.” <cmsannotation type="cmsannotation" annotationid="Using Airplane mode" comment="subhead" text="Using Airplane mode">Using Airplane mode</cmsannotation> The simplest way to read Instagram messages is by using Airplane mode on your phone. <div type="image" title="ap" msid="98535535" hostid="261" caption="&amp;lt;p&amp;gt;Airplane mode trick to read Instagram messages without being seen&amp;lt;/p&amp;gt;"></div> <ul><li>To begin, turn on Airplane mode on your smartphone.</li><li>Now, open Instagram and read the message that you want to check.</li></ul>Once you have read the message and still wish to avoid the “seen” tag, follow the below step before turning off Airplane mode. <ul><li>Click and hold on Instagram’s app icon to get the app info.</li><li>Now, click on “Force stop” or “Disable.”</li></ul>Once you have done this, you can turn off Airplane mode. Note that once you open Instagram, the other person will know you have read their message. <cmsannotation type="cmsannotation" annotationid="Log out method" comment="subhead" text="Log out method">Log out method</cmsannotation> In the above method, the message gets tagged as “seen” when you open Instagram after turning off Airplane mode. You can use this trick if you still want to use Instagram after seeing the message. <div type="image" title="Wifi" msid="98535545" hostid="261" caption="&amp;lt;p&amp;gt;Mobile data and Wi-Fi trick to read Instagram messages without being seen&amp;lt;/p&amp;gt;"></div> <ul><li>Turn off mobile data and Wi-Fi on your smartphone.</li><li>Now, open Instagram and open the message you want to read.</li><li>Once you have read the message, go to settings and log out from Instagram.</li><li>You can now sign in to the app, and it will not show that the message has been seen.</li></ul><cmsannotation type="cmsannotation" annotationid="Restrict account" comment="subhead" text="Restrict account">Restrict account</cmsannotation> Another trick that you can follow is restricting accounts before reading their message. <div type="image" title="01" msid="98535555" hostid="261" caption="&amp;lt;p&amp;gt;Restrict account trick to read Instagram messages without being seen&amp;lt;/p&amp;gt;"></div> <ul><li>Open Instagram on your smartphone.</li><li>Now, go to the profile of the person whose messages you wish to read.</li><li>Then, click on the three-dots menu at the top right corner.</li><li>Now, click on “Restrict”.</li><li>Finally, click the “Message” button on the user’s profile.</li><li>Once you are done, you can return to their profile and un-restrict them.</li></ul> <div type="image" title="End" msid="98535572" hostid="261" caption="&amp;lt;p&amp;gt;You can un-restrict the account after reading the message&amp;lt;/p&amp;gt;"></div> SEE ALSO: <a href="https://www.businessinsider.in/finance/news/how-to-use-credit-card-to-make-upi-payments/articleshow/98090488.cms">How to use credit card to make UPI payments</a> <a href="https://www.businessinsider.in/personal-finance/news/how-to-check-your-credit-score-for-free/articleshow/96050534.cms">How to find your CIBIL, Experian and CRIF credit score for free</a> <a href="https://www.businessinsider.in/tech/apps/news/how-to-delete-your-number-and-email-from-facebooks-database/articleshow/95349999.cms">How to delete your number and email from Facebook’s database</a>

How to read Instagram messages without being seen

<ul><li><keyword id="1607389" type="General" weightage="80" keywordseo="dyson" source="Orion">Dyson</keyword> has launched Zone, a noise-canceling headphone with an air purifier.</li><li><keyword id="13505182" type="General" weightage="100" keywordseo="dyson-zone" source="Orion">Dyson Zone</keyword> has been priced at $949 and will be available in selected countries starting from January 2023.</li><li>The headphone protects users from noise and air pollution.</li></ul>Headphones have been offering noise cancellation for a long time, offering users a noise-free audio experience. In addition to protecting users from the noise around them, Dyson has introduced a new product that will protect you from air pollution. The <a href="https://www.businessinsider.in/tech/news/dysons-new-headphones-with-an-air-purifier-bank-on-peoples-masking-habits/articleshow/90561834.cms">Dyson Zone</a> is a unique noise-canceling headphone with an air purifier to ensure that you can breathe clean air even outdoors. The device was first revealed in March 2022 and is finally launched in selected countries. <cmsannotation type="cmsannotation" annotationid="Dyson Zone price and availability" comment="subhead" text="Dyson Zone price and availability">Dyson Zone price and availability</cmsannotation> The Dyson Zone has been priced at $949 (approx. ₹78,150), making it costlier than the Apple AirPods Max headphones. The headphone will go on sale in January in China and from March in the US, UK, Hong Kong, and Singapore. Currently, there is no information about the device’s India availability. <cmsannotation type="cmsannotation" annotationid="Dyson Zone design and performance" comment="subhead" text="Dyson Zone design and performance">Dyson Zone design and performance</cmsannotation> The Dyson Zone looks like a regular headphone when the air purifier is not attached. It comes with a detachable visor that uses compressors to draw air, purify it through two levels of filters, and project two streams of air into the user’s nose and mouth. The air purifier can capture 99% of particles as small as 0.1 microns and also targets acidic gases in city pollution, such as nitrogen dioxide (NO2) and sulfur dioxide (SO2). <cmsannotation type="cmsannotation" annotationid="Dyson Zone features and specifications" comment="subhead" text="Dyson Zone features and specifications">Dyson Zone features and specifications</cmsannotation> The Dyson Zone has reportedly been developed after six years of research and is aimed at providing on-the-go air purification. The device has 40mm, neodymium drivers, ensuring clear audio and powerful sound. The highlight of the device is its air purification technology. The company has equipped the Dyson Zone with electrostatic filters, K-Carbon and potassium-enriched carbon filters. The headphone is equipped with eleven microphones, and active noise cancellation (ANC) uses eight of these microphones to offer up to 38 decibels of noise cancellation. The device offers a battery life of 50 hours when used in audio mode. When air purification is enabled, the battery life drops to four hours. The device can be fully charged in three hours. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/best-international-roaming-plans-offered-by-airtel-jio-and-vodafone-idea/articleshow/96059752.cms">Here are the best international roaming plans offered by Airtel, Reliance Jio, and Vi</a> <a href="https://www.businessinsider.in/personal-finance/news/how-to-check-your-credit-score-for-free/articleshow/96050534.cms">How to find your CIBIL, Experian and CRIF credit score for free</a> <a href="https://www.businessinsider.in/tech/news/what-is-chatgpt-and-how-does-it-work/articleshow/95994901.cms">ChatGPT is a new AI chatbot that can find mistakes in your code or write a story for you</a>

Dyson’s futuristic air-purifying, noise-canceling headphones are ready to hit the market from January 2023

<ul><li><keyword id="6354427" type="General" weightage="20" keywordseo="apple" source="Orion">Apple</keyword> is launching an <keyword id="6425775" type="General" weightage="20" keywordseo="apple-music" source="Orion">Apple Music</keyword> Sing feature later this month. </li><li>It will be a karaoke-like sing-along feature that lets users sing with real-time lyrics. </li><li>The feature includes four functions to make the singing experience more precise with extra control. </li><li>Read further to know more about the feature. </li></ul>Apple has <a href="https://www.apple.com/newsroom/2022/12/apple-introduces-apple-music-sing/">announced </a>an interesting feature to its audio streaming app Apple Music. The new feature is called Apple Music Sing, allowing users to sing along with their favorite songs. This new karaoke-style feature gives real-time lyrics and helps you adjust vocals. “Apple Music’s lyrics experience is consistently one of the most popular features of our service,” said Oliver Schusser, Apple’s vice president of Apple Music and Beats. “We already know our users worldwide love to follow along to their favorite songs, so we wanted to evolve this offering further to enable more engagement around music through singing. It’s a lot of fun, our customers are going to love it.” Launching later this month, the Apple Music Sing feature can be a great way to sing along and celebrate year-end. To enjoy singing with this new feature in a karaoke style, you must be an Apple Music subscriber. Also, only select models and devices on which users can access this new singing feature. Compatible Apple devices The Apple Music Sing feature will be available on the new Apple TV 4K. Users having iPhone with iOS16 or the later version and iPad with iPadOS 16.1 or the latest operating system will be able to use this new feature. What does the feature include? The feature has some interesting functions that balance and enhance your sing-along experience. Real-time Lyrics- Real-time lyrics allow you to sing a song with animated lyrics dancing with your rhythm. Background vocals- Background vocals can appear with different animations, from the main vocals to easy reading and singing. Adjustable vocals- With this function, you can control the vocal level of the song and can sing with the original artist's vocals. Duet view- This function lets two people sing a song as multiple singers come on the screen. Applications like Spotify and Jio Saavn also offer real-time lyrics to users, but Apple Music will be the first to bring a karaoke-like experience to its users. Though the feature launch date has yet to be announced, it could arrive before the holiday season and gain more attraction. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/apple-has-revealed-the-app-store-awards-winners-in-2022/articleshow/95855823.cms">Apple’s App Store awards 2022 winners — best applications and games of the year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/how-to-check-your-credit-score-for-free/articleshow/96050534.cms">How to find your CIBIL, Experian and CRIF credit score for free</a>

Apple Music will soon get a karaoke feature—here’s all you need to know

<ul><li>If you are visiting a foreign country, getting an international roaming plan is important.</li><li>Airtel, Reliance Jio, and Vi have introduced several plans with different benefits and validity.</li><li>This post looks at some of India’s <keyword id="15724395" type="General" weightage="20" keywordseo="best-international-roaming-plans" source="Orion">best international roaming plans</keyword>.</li></ul>One of the most important things you need to consider before going to a foreign country is the roaming plan you should get for yourself. Getting a roaming plan that offers decent data and a good amount of voice calls is important. Airtel has announced World Pass, the company’s international roaming plan that works across 184 countries, allowing you to use the same plan for different countries. This post looks at the different plans offered by Airtel, Reliance Jio, and Vi. Vi offers different data and calling benefits for different countries. For this post, we have compared the benefits offered by countries like the United States, the United Kingdom, France, Germany, and more. <cmsannotation type="cmsannotation" annotationid="Best international roaming plans" comment="subhead" text="Best international roaming plans">Best international roaming plans</cmsannotation> If you are looking for plans with a short validity, you can go with a plan that offers a one-day validity. <cmsannotation type="cmsannotation" annotationid="1-day international roaming plans" comment="subhead" text="1-day international roaming plans">1-day international roaming plans</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Airtel ₹649 plan" comment="subhead2" text="Airtel ₹649 plan">Airtel ₹649 plan</cmsannotation> The ₹649 plan from Airtel is the cheapest plan from the telco and offers a validity of one day. It offers 500MB of data, 100 minutes of free local and Indian outgoing calls, and unlimited incoming calls. It also offers 10 SMS. <cmsannotation type="cmsannotation" annotationid="Reliance Jio ₹575 plan" comment="subhead2" text="Reliance Jio ₹575 plan">Reliance Jio ₹575 plan</cmsannotation> Airtel’s ₹649 plan competes with Reliance Jio’s ₹575 plan that offers a validity of one day. It offers 250MB of high-speed data and unlimited data with a speed of 64kbps. This plan offers 100 minutes of local and Indian outgoing and unlimited incoming calls. It also offers 100 SMS. <cmsannotation type="cmsannotation" annotationid="Vi ₹695 plan" comment="subhead2" text="Vi ₹695 plan">Vi ₹695 plan</cmsannotation> The ₹695 plan from Vi is valid for one day and offers 120 minutes of local and Indian outgoing calls. It offers unlimited incoming calls and comes with 1GB of data. <cmsannotation type="cmsannotation" annotationid="1-week to 10-day international roaming plans" comment="subhead" text="1-week to 10-day international roaming plans">1-week to 10-day international roaming plans</cmsannotation> If you are looking for international roaming plans that offer a slightly longer validity, you can view the below plans that offer up to 10 days of validity. <cmsannotation type="cmsannotation" annotationid="Airtel ₹899 plan" comment="subhead2" text="Airtel ₹899 plan">Airtel ₹899 plan</cmsannotation> Airtel has introduced a ₹899 plan with a validity of 10 days. It offers 100 minutes of free outgoing local and Indian calls, unlimited incoming calls, and 1GB of data. It also offers 10 SMS. <cmsannotation type="cmsannotation" annotationid="Vi ₹995 plan" comment="subhead2" text="Vi ₹995 plan">Vi ₹995 plan</cmsannotation> The Vi ₹995 plan offers a validity of 7 days and comes with 500 MB of data. It comes with 150 minutes of local and Indian outgoing and incoming calls. The plan does not offer free incoming calls. <cmsannotation type="cmsannotation" annotationid="Reliance Jio ₹2,875 plan" comment="subhead2" text="Reliance Jio ₹2,875 plan">Reliance Jio ₹2,875 plan</cmsannotation> Reliance Jio has announced a ₹2,875 plan valid for seven days and comes with 100 minutes of outgoing local and Indian daily calls. It also offers 250MB of high-speed data per day, after which users can enjoy unlimited data at 64kbps speed. Users also get 100 SMS per day. <cmsannotation type="cmsannotation" annotationid="Airtel ₹2,999 plan" comment="subhead2" text="Airtel ₹2,999 plan">Airtel ₹2,999 plan</cmsannotation> Airtel also has a ₹2,999 plan for postpaid users that offers a validity of 10 days. It offers 5GB of high-speed data, which allows users to access unlimited data at reduced speeds. The plan also offers 100 minutes of local and Indian outgoing daily calls and unlimited incoming calls. <cmsannotation type="cmsannotation" annotationid="Vi ₹3,495 plan" comment="subhead2" text="Vi ₹3,495 plan">Vi ₹3,495 plan</cmsannotation> Vi also has a ₹3,495 plan that offers a validity of 7 days and comes with 7GB of mobile data. The plan offers 120 minutes of outgoing local and Indian daily calls and unlimited incoming calls. <cmsannotation type="cmsannotation" annotationid="Vi ₹4,695 plan" comment="subhead2" text="Vi ₹4,695 plan">Vi ₹4,695 plan</cmsannotation> The Vi ₹4,695 plan is a good option for users looking for slightly more data. It is valid for 10 days and comes with 10GB of data. The plan offers 120 minutes of local and Indian outgoing calls and unlimited incoming calls. <cmsannotation type="cmsannotation" annotationid="One-month international roaming plans" comment="subhead" text="One-month international roaming plans">One-month international roaming plans</cmsannotation> If you are looking for an international roaming plan that offers a longer validity, you can select a plan with 30 days of validity. <cmsannotation type="cmsannotation" annotationid="Airtel ₹2,998 plan" comment="subhead2" text="Airtel ₹2,998 plan">Airtel ₹2,998 plan</cmsannotation> The Airtel ₹2,998 plan offers a validity of 30 days and comes with 5GB of data. It offers 200 minutes of local and Indian outgoing calls and unlimited incoming calls. The plan also offers 20 SMS. <cmsannotation type="cmsannotation" annotationid="Reliance Jio ₹5,751 plan" comment="subhead2" text="Reliance Jio ₹5,751 plan">Reliance Jio ₹5,751 plan</cmsannotation> The Reliance Jio ₹5,751 plan offers a validity of 30 days and comes with 5GB high-speed data and unlimited data at 64 kbps. The plan offers 1500 minutes of local and Indian outgoing and free incoming calls. The plan offers 1500 SMS. <cmsannotation type="cmsannotation" annotationid="Vi ₹295 plan" comment="subhead2" text="Vi ₹295 plan">Vi ₹295 plan</cmsannotation> The Vi ₹295 plan is an affordable option aimed at users who do not want data and are fine with limited calling benefits. It offers a validity of 28 days and comes with 40 minutes of outgoing and incoming calls. The plan does not offer free incoming calls. <cmsannotation type="cmsannotation" annotationid="Airtel ₹3,999 plan" comment="subhead2" text="Airtel ₹3,999 plan">Airtel ₹3,999 plan</cmsannotation> The Airtel ₹3,999 is a postpaid plan that offers a validity of 30 days and comes with 100 minutes of local and Indian outgoing calls per day and unlimited data with 12GB high-speed data. Post 12GB, it offers unlimited data at reduced speeds. <cmsannotation type="cmsannotation" annotationid="Vi ₹6,995 plan" comment="subhead2" text="Vi ₹6,995 plan">Vi ₹6,995 plan</cmsannotation> The Vi ₹6,995 plan offers a validity of 28 days and comes with 15GB of data. It offers 120 minutes of local and Indian outgoing calls per day and unlimited incoming calls. <cmsannotation type="cmsannotation" annotationid="Other plans" comment="subhead" text="Other plans">Other plans</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Airtel ₹2,997 plan" comment="subhead2" text="Airtel ₹2,997 plan">Airtel ₹2,997 plan</cmsannotation> The Airtel ₹2,997 plan is valid for 365 days and comes with 100 minutes of local and Indian outgoing calls. It offers unlimited incoming calls, 2GB of data, and 20 SMS. <cmsannotation type="cmsannotation" annotationid="Airtel ₹5,999 plan" comment="subhead2" text="Airtel ₹5,999 plan">Airtel ₹5,999 plan</cmsannotation> The Airtel ₹5,999 plan offers a validity of 90 days and comes with 2GB of high-speed data and unlimited data at reduced speeds. It offers 900 minutes of local and Indian outgoing calls and unlimited incoming calls. SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/how-to-check-your-credit-score-for-free/articleshow/96050534.cms">How to find your CIBIL, Experian and CRIF credit score for free</a> <a href="https://www.businessinsider.in/tech/news/what-is-chatgpt-and-how-does-it-work/articleshow/95994901.cms">ChatGPT is a new AI chatbot that can find mistakes in your code or write a story for you</a>

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<ul><li>The number of bad loans in education reportedly increased to 9% in March 2018 from 7.3% as of March 2016. </li><li>As of 2016, over five million international students were studying abroad out of which 300,000 were Indians. </li><li>As per data by Reserve Bank of India, spending on tuition and accommodation have increased by 44% during 2013 and 2018. </li></ul>With more Indian students flying abroad to finish their studies, many have relied on hefty education loans but have been unable to pay down their student debt. According to a LiveMint report, which <a href="https://www.livemint.com/money/personal-finance/is-the-education-loan-burden-worth-that-course-abroad-1550502001583.html">cited</a> data by the Indian Banks’ Association, Indian banks have seen a rise in education loan defaults. The number of bad loans in education increased to 9% in March 2018 from 7.3% as of March 2016, said the report. There were about 2.79 million active education loans as of March 2018. While securing an education loan may have become easier than before but repaying them has seemingly become difficult primarily because of a shrinking job market, say experts. Additionally, tighter visa rules for working overseas in the West has forced many Indian students to return home after finishing studies, with huge debts and find work in a market where the wages often aren’t as high. The US, for instance, has a cap on the H1B visas for people including students who have studied there. Increasing costs of higher education, particularly overseas, has partly driven more students to avail education loans. According to CRIF High Mark, a credit bureau, there has also been an increase in the average size of new loans given each year, said the LiveMint report. The average size of new education loans varied -- from ₹895,000 in September 2018 to ₹708,000 at the end of FY18. In comparison, the average loan size for new loans was ₹503,000 in 2015, according to the media <a href="https://www.livemint.com/money/personal-finance/is-the-education-loan-burden-worth-that-course-abroad-1550502001583.html">reports. </a> Spending by Indian students <a href="https://www.livemint.com/money/personal-finance/expenses-you-shouldn-t-overlook-when-planning-to-study-abroad-1548784318439.html">has also spiked</a> in recent years. As per data by Reserve Bank of India, spending on tuition and accommodation have increased by 44% during 2013 and 2018. India also has high interest rates on student loans that range from 8.50% to 10.30% per annum. Indian students make up the second largest pool of international students globally after China, said CNBC. As of 2016, over five million international students were studying abroad out of which 300,000 were Indians, <a href="https://www.cnbctv18.com/economy/a-new-wave-of-indian-students-now-studying-abroad-2096281.htm">according</a> to UNESCO data. The number of Indian students studying overseas increased to 553,000 in 2017. See also: <a href="https://www.businessinsider.in/campus-placements-at-iim-mdi-tiss-iift-see-salary-packages-above-2-million/articleshow/67898696.cms">India’s B-schools are seeing higher salary packages for graduates — and it’s not just IIMs</a> <a href="https://www.businessinsider.in/careers/accenture-bcg-dominate-campus-placements-at-business-schools-in-india/articleshow/68045145.cms">Consulting firms Accenture, BCG dominate campus placements at India’s B-schools this year</a>

More Indian students are defaulting on their overseas education bank loans: Report

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.flickr.com/photos/kchrist/4710266569">Kenn Wilson/Flickr</a>It's time for speakeasies to go away.</div></div></div><ul><li dir="auto">The biggest trend in nightlife and bars over the last decade is the rise of the "speakeasy" bar - cocktail bars that mimic the illicit, hidden bars that arose during the 1920s Prohibition Era in the US.</li><li dir="auto">The speakeasy trend started in 1999 with the opening of Milk &amp; Honey in New York City and was meant to revive cocktail culture and provide an alternative to the loud, glitzy bars that dominated nightlife.</li><li dir="auto">After visiting dozens of speakeasy bars in cities from New York and Seattle to Hong Kong, Singapore, and Jerusalem, I'm convinced that, while speakeasies served a purpose, they have become a clichè that is more about pageantry and overpriced drinks.</li></ul>I'm convinced that there is perhaps no trend in modern American - and now global - nightlife culture that has more outlived its welcome than the speakeasy bar.At this point, they aren't a trend, but a clichè. Every major city has a few and the vast majority are pretentious places that use the gimmick to charge two or three times the price of every bar in the area. I had an inkling that speakeasies had jumped the proverbial shark before I left New York City in March, but after visiting near identical establishments in Singapore, Hong Kong, Sofia, Jerusalem, and Bali, I am convinced: They have lost their charm.It wasn't always this way.The speakeasy trend began innocuously on New Year's Eve 1999 with the opening of Milk &amp; Honey in New York City by then-unknown, now legendary bartender <a href="https://www.nytimes.com/2015/08/22/nyregion/sasha-petraske-bar-owner-who-revived-luster-to-cocktail-culture-around-the-world-dies-at-42.html">Sasha Petraske</a>. Milk &amp; Honey featured many of the hallmarks of today's ubiquitous speakeasies: reserved atmosphere, suspender-clad bartenders, giant ice cubes, craft cocktails, rules of entry, and a hidden entrance.During the Prohibition Era in the 1920s, when the US government banned alcohol, illegal, hidden speakeasies arose as a means to continue selling alcohol. In retrospect, these clandestine entertainment venues, where jazz, booze, and youth culture flourished, look glamorous.Milk &amp; Honey took some of its cues from the era, but Petraske's vision was larger than that. A man raised by Communists, <a href="https://www.nytimes.com/2015/08/22/nyregion/sasha-petraske-bar-owner-who-revived-luster-to-cocktail-culture-around-the-world-dies-at-42.html">according to the New York Times</a>, Petraske saw Milk &amp; Honey as a democratic alternative to loud, glitzy, name-dropping Manhattan bars.Milk &amp; Honey and Petraske revived cocktail culture in the US and - not to get too grand, but - the rest of the world. Of course, there were successors: Angel's Share stands out, as do masterful iterations on the trend like New York's Please Don't Tell.<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://blog.zagat.com/2012/09/the-10-best-bars-in-new-york.html?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+zagat+%28Zagat+Buzz%29&amp;utm_content=Google+Reader">Zagat</a>New York's Please Don't Tell speakeasy is hidden in a Crif Dogs.</div></div></div>The speakeasy trend served a purpose: to get people to care about good cocktails again and to see drink-making as an art similar to cooking. And it worked. As Nielsen reported in 2016, <a href="http://www.nielsen.com/us/en/press-room/2016/nielsen-cga-releases-first-on-premise-consumer-survey-for-us-market.html">23% of Americans regularly drink cocktails</a> at restaurants and bars and liquor and cocktail sales <a href="https://www.wsj.com/articles/cocktails-win-liquor-consumption-around-the-world-outpaces-wine-and-beer-1497519008">keep going up</a>, according to industry tracker IWSR. As Thrillist's Kevin Alexander <a href="https://www.thrillist.com/drink/nation/craft-cocktails-revolution-whats-next">wrote last year</a>, the cocktail revolution is over: Cocktails won.And that's a valid purpose, similar to how many credit Starbucks with <a href="https://www.citylab.com/life/2017/01/the-cafe-tipping-point/513656/">jumpstarting modern coffee culture</a>.But, now, I believe, it's time for them to go. Today the speakeasy trend feels less about reforming modern drinking culture and more about pageantry: who can come up with a more precocious entrance mechanism, whose bar has a more elaborate backstory, and who can stuff the most obscure ingredients into a single drink.At this point, I've entered a bar through a sliding bookcase, a refrigerator door in a bodega, and, most ridiculously, an antique key ring with dozens of keys from which you have to guess the right one. The menus, too, seem to be getting longer. One speakeasy I visited in Montreal had a menu the size of a novella and a backstory detailing an elaborate murder mystery. Do I need to feel like a real-life member of Clue, trying to solve who killed whom with what in which room, every time I want a stiff drink?Perhaps, at some point, all of this passed as creativity. But, these days, it all feels like variations on the same clichè. The bar concept feels like a shorthand to sophistication or coolness. I'm convinced people don't go to these places to really drink or socialize, but to buy one expensive drink and snap a photo of the bar for their Instagram. <div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.flickr.com/photos/mirka23/4874725532">Mirka23/Flickr</a>The entrance to New York's Little Branch speakeasy.</div></div></div>I should be clear: I don't dislike good cocktails. And oftentimes, the speakeasies are a good bet to get a good drink. In Singapore I visited <a href="https://spiffydapper.com/">the Spiffy Dapper</a> and, while it had a menu that rivaled a dictionary in length and detail, the bartenders were hilarious and made creative drinks. But as often as not, it ends up being the place to get an overwrought drink that feels like a kid toying with his chemistry set for [insert outrageous price indexed to your cost of living].Let's be honest. Not every drink needs a sage tincture or the oil of a rose plucked from the top of Macchu Picchu at sunset. Sometimes, a simple drink made correctly is all you need.<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.instagram.com/spiffydapper/">Courtesy of Spiffy Dapper</a>Spiffy Dapper in Singapore is a standout speakeasy.</div></div></div>As <a href="https://www.starchefs.com/cook/chefs/bio/greg-seider">Greg Seider</a>, whose East Village haunt Summit Bar was once named the best cocktail bar in New York, told me last year, if he wants to know how good a bar is, he orders an Old-Fashioned. It's three ingredients, and if you can't get the balance of that right, why bother drinking the drinks riddled with cordials and tinctures.Petraske died in 2015, but his legacy lives on. Let's hope it's the part about expertly made cocktails in a relaxed setting, not the 1920s cosplay. To whoever is in charge of these cultural movements: kill the speakeasy. Let's move on to the next thing. Whatever it is, make it happen soon. I don't know if I can bear another $26 drink that requires a password to get. This is an <keyword id="6356002" type="UNKNOWN" weightage="60" keywordseo="opinion">opinion</keyword> column. The thoughts expressed are those of the author. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/inside-london-wizarding-the-cauldron-cocktail-mixology-magic-wand-2018-3">Inside London's Harry Potter-style bar where you mix your own cocktails in a cauldron and pour beers using a magic wand</a></h3> <div> </div> </div>

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