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New Delhi, Films should serve as a catalyst of change and not a business model, believes filmmaker <keyword id="7936" type="General" weightage="20" keywordseo="vidhu-vinod-chopra" source="Orion">Vidhu Vinod Chopra</keyword> as he returns to the big screen after three years with "<keyword id="15771130" type="General" weightage="20" keywordseo="12th-fail" source="Orion">12th Fail</keyword>", a story of ambition, dedication and overcoming setbacks. The ace director, known for films such as "Khamosh", "Parinda", "1942: A Love Story" and "<keyword id="3897" type="General" weightage="20" keywordseo="Mission-Kashmir" source="Orion">Mission Kashmir</keyword>", said money has never dictated his creative decisions. "My job as an artist or a filmmaker is to make the world slightly better than what it was when I came. So, if I can make a film that can make a slight difference to people's lives, it inspires me. "Money has never driven me. I could have made 'Munnabhai' 3, 4, 5, 6... and be a multi-millionaire, which I'm not. I chose to make '12th Fail', with <keyword id="189215" type="General" weightage="50" keywordseo="vikrant-massey" source="Orion">Vikrant Massey</keyword>," Chopra told PTI in an interview here. Not only his directorial efforts, the 71-year-old said he makes sure even his production ventures, which include acclaimed titles such as "Munna Bhai" franchise, "3 Idiots" and "Parineeta", have something important to convey. "In 'Parinda', I talked about violence. '1942' was about patriotism and 'Mission Kashmir' was about religious divide.... In all my films, it is important that they say something," he added. "12th Fail" is based on Anurag Pathak's best-selling novel about the incredible journey of IPS officer Manoj Kumar Sharma and IRS officer Shraddha Joshi. The movie stars Massey in the lead along with Medha Shankar. Though inspired by Sharma's life, Chopra said "12th Fail" is a story of "each one of us" coming to big cities with aspirations and dreams. "I started writing this film when I was 66 and now I'm 71. You can't write a film like this in months. It takes years because every character has a story. It's not a biopic. It's each one of us... There is a lot of me and you in the film." Integral to the movie's storyline is the idea of "restart". As inspirational and motivational it may sound, the concept stemmed from a personal tragedy, said Chopra. "My brother was the closest person to me in the world, apart from my wife and kids. During the pandemic, when I was developing this film, he was in Maldives. He delayed coming to Mumbai and couldn't survive. It hit me very hard. "Within a week or so, I realised it is not fair to the people who are around me. I was already in the story and the whole concept of restart took place in my head. It didn't come from a happy place. It came from a tragedy that struck me," the director recalled. Chopra said somewhere while healing through the personal loss, he realised that life was much like a video game -- "you lose, you press a button and move on". "I told myself why can't we do that in life. We have setbacks, we fall, and then we lose everything. Life is a game too. The thought is inspirational but not easy. It is about the way you look at life," he added. Chopra said through "12th Fail", which released on Friday, he wants to address that nothing is impossible to achieve, but if one faces a setback, the goal should always be to "restart". "When I read about the suicides in Kota and anywhere else. I want to tell those kids.... It's tough, I understand. I lost the man I loved the most in my life. (But) you got to restart. And UPSC is not just one thing, you can explore so much in life." Apart from Massey, who has established himself as a dependable performer with projects such as "A Death in the Gunj", "Haseen Dillruba" and "Criminal Justice", the film features an impressive supporting cast in Anant V Joshi, Anshumaan Pushkar, Sanjay Bishnoi and Priyanshu Chatterjee. Chopra said ever since he decided to make a film on the subject, he was sure about casting "real people". "I didn't want filmy heroes pretending to be these people. Most of the cast are new actors, first time actors or not very famous. But they are real people. I rehearsed with them for one year," the director said, adding that he is currently writing a film for which he would be needing movie stars. "I will cast a movie star, if it is a movie star role. Like I'm writing a film for which I need big movie stars. I made 'Eklavya' and I wouldn't have made that movie without Mr Bachchan. Every film has its own demand, so to say. '12th Fail' demanded me to be very real." Produced by <keyword id="3415325" type="General" weightage="50" keywordseo="zee-studios" source="Orion">Zee Studios</keyword>, "12th Fail" has been released worldwide in Hindi, Tamil, Telugu, and Malayalam.

Could have made Munnabhai 3, 4, 5 ... and be a multi-millionaire: Vidhu Vinod Chopra

<div type="image" title="In case RBI is in the mood to hike the interest, your home loan EMIs might end up taking more from your pockets. Or, if it leaves the rates unchanged, your EMIs wont budge one bit" msid="114284206" hostid="261" caption="&amp;lt;p&amp;gt;In case RBI is in the mood to hike the interest, your home loan EMIs might end up taking more from your pockets. Or, if it leaves the rates unchanged, your EMIs wont budge one bit&amp;lt;/p&amp;gt;"></div> On September 18, 2024, the <keyword id="19951097" type="General" weightage="20" keywordseo="us-fed" source="keywords">US Fed</keyword> delivered a jumbo-sized surprise to the global economy. Not only did they trim their interest rates by a massive 50 basis points to bring their yields down to 5%, but also hinted at further rate cuts in the upcoming months. This move from the fed and several other central banks globally had pushed expectations high for a similar rate slash closer home, from the <keyword id="19899808" type="General" weightage="100" keywordseo="rbi" source="keywords">RBI</keyword> this month. But governor <keyword id="19913110" type="General" weightage="20" keywordseo="shaktikanta-das" source="keywords">Shaktikanta Das</keyword>, in a “picture abhi baaki hai” moment, decided to hold the repo rates here steady, leaving them unchanged at 6.5% for the record 10th straight time. Although, he did tinker with the policy stand, changing it from “rate cuts are absolutely off the table” to a more accommodating “we’re okay with bringing down the rates, if needed”. This, rather neutral, stance from India’s financial custodian sparked hopes for a rate cut in December this year. However, the stubborn <keyword id="22195" type="General" weightage="20" keywordseo="inflation" source="Orion">inflation</keyword> levels in September have again dented such hopes. As consumers, you may be wondering what all the hullabaloo this is about, since it hardly makes a difference to your regular financial routine. Well, the majority of both economic growth and inflation is closely connected to this policy stance from the central bank and it does have a rather indirect effect on both our earnings and spending. But more directly, it would have clear implications for those looking to own a house. Even the slightest modification of interest rates, or the lack of it, influences the <keyword id="19916018" type="General" weightage="20" keywordseo="emi" source="keywords">EMI</keyword> you pay significantly. So, all aspiring homebuyers, is this the right time to take out a loan and buy a house? Can you expect a rate cut anytime soon, and what will that mean for your home-owning dreams? We lay it out. <h2>What’s the connection?</h2>You see, buying a house is no small feat, at least financially. The task becomes even more herculean if you are scouting for your own roof in cities like Delhi, Noida, Bangalore or Mumbai where, as Circuit from Munnabhai says, “room shuru hote hi khatam ho jata hai”. Naturally, you’ll have to take a <keyword id="6354730" type="General" weightage="20" keywordseo="Home-loan" source="Orion">home loan</keyword> from the bank. Don’t be mistaken, the bank won't give you a loan that covers 100% of the value of the property you want to own. Rather, your loan amount will be equivalent to a certain percentage of the property’s total value. RBI’s guidelines on this are pretty clear: <ul><li>If your loan amount is up to Rs 30 lakh, you can get a loan worth 90% of the property’s value.</li></ul><ul><li>If the loan amount is between Rs 30 lakh and Rs 75 lakh, you are eligible for a loan worth 80% of the property’s value. </li><li>If you are taking a loan of more than Rs 75 lakh, your loan amount will be equivalent to 70% of the property’s value. </li></ul>Now assuming that you have the money, it's all about paying back the principal amount, but not without a little (read hefty) interest added on top. See, when you’re taking a home loan, you are actually signing up for a long-term, even multi-decadal financial commitment, which will unfailingly present itself to your bank accounts and finances every single month, in the form of EMIs, or equated monthly instalments). When you take a home loan, you can choose to pay the interest in two ways (talk about choices!). One is that you decide to keep a fixed rate of interest throughout the tenure of your home loan. So, if you opt for a 25-year fixed-rate home loan at the rate of 8.8% p.a., you’ll have to pay interest at this rate for the next 25 years, till your entire loan is paid off. Yes, you can go backsies and switch to a floating-rate home loan by paying a fee. Floating, as the name suggests, means that your interest rate is not set in stone. But starting October 2019, when it comes to a floating interest rate home loan, your payable interest and EMIs are directly impacted by any changes in <keyword id="20094323" type="General" weightage="20" keywordseo="repo-rate" source="keywords">repo rate</keyword>, which were left unchanged by RBI this time around. Why are these two so chummy, you might ask. Well, <keyword id="173069" type="General" weightage="20" keywordseo="Home-loan-interest" source="Orion">home loan interest</keyword> rates are a sum of two things: <ol><li>Repo Rate (the rate at which RBI lends money to banks)</li><li>Operational cost + margins</li></ol>Any plus or minus in this equation would send your home loan interests tanking, or skyrocketing. Vivek Iyer, Partner, Grant Thornton Bharat explains that any change in the repo rates impacts the cost of funds and thereby the home loan interest rates. “When the interest rates are expected to reduce, the corresponding impact will be in the form of a reduced EMI. Home loan borrowers should always try to borrow at a floating rate when interest rates are expected to reduce and at a fixed rate when the interest rates are expected to increase. This minimizes the outflow in the form of EMIs that the home loan borrowers will experience”, he continues. So, no change in repo rates means no change in your home loan interest payout and no financial relief whatsoever. A rate cut, which most experts are anticipating will start this December, would mean your EMI payments come down, and your wallet might save a little more. But there’s also a chance of an UNO reverse happening. In case RBI is in the mood to hike the interest, your home loan EMIs might end up taking more from your pockets. Consider this. You took a floating interest rate home loan worth Rs 50 lakh in January 2022 at 8% p.a., for a period of 20 years. This brings your total monthly EMI to Rs Rs 41,822. But, as luck would (or won't) have it, RBI raised the interest rate by 250 basis points between May 2022 and February 2023, bringing it to its current status of 6.5%. Some back-of-the-envelope calculations suggest that now, your home loan interest payout will also rise by a hefty 2.5%, taking the total to 10.5%. In other words, you’ll have to dish out Rs 49,919 per month as EMI. Now, won't you heave a sigh of relief if the RBI were to bring down the interest rate by say, even 50 basis points, or 0.5%? Agreed, your EMI will come down just marginally, to Rs 48,251. But look at this over a 20-year period, and you’ll see how big the difference is. <h2>Are rates set to change anytime soon?</h2>Generally, RBI hikes the repo rates if it sees inflation spiralling out of control. Then, in a bid to reduce consumer spending, it raises interest rates to make borrowing expensive. But when the apex bank sees sluggish consumption in the economy, inflation in control and wants to boost spending, it slashes down on interest rates, making it more lucrative for people to borrow. As of now, most experts are not anticipating any changes in the interest rates anytime soon. This means home loans are not getting cheaper anytime soon. The CPI data, which came out yesterday, saw inflation rise to 5.49% in September, compared to 3.65% last month. Food and beverage prices jumped to a four-month high of 8.36% in September, as opposed to a 5.3% rise in August. So a rate cut seems a no-go at the moment! Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities explains that the RBI had probably expected a hardening of inflation and that's why it chose to hold on to the rates in the monetary policy announcement last week. “Now, it seems that RBI will take a cautious stance going ahead and will not be in a hurry into rate cuts like its global peers”, he added. In all this, one thing is clear, in the grand movie of the Indian economy, the RBI has chosen stability over drama. And just like in every good Bollywood film, we're left wondering what twist the sequel will bring. Until then, it might be “The End" for rate cuts, but the show must go on for the Indian economy!

Simply Put: Boom or bust — how RBI’s decision to leave rates unchanged affects homebuyers

Bollywood’s Munnabhai, <keyword id="7645" type="PERSON" weightage="20" keywordseo="Sanjay-Dutt">Sanjay Dutt</keyword>, has become an entrepreneur. The actor, who is in the jail for his alleged role in the 1993 Bombay blasts, has bought a franchise in the UAE-based Masters Champions League (MCL). 
	 According to a TNN report, the actor’s wife, <keyword id="80544" type="PERSON" weightage="20" keywordseo="Maanyata-Dutt">Maanyata Dutt</keyword> was instrumental in sealing the deal in the new league for retired international cricketers. Maanyata has been looking after the actor’s business interests ever since he was jailed. 
	 As a family, we have always been passionate about sport. Sanjay, in particular, has been an avid sports enthusiast since childhood,” said Maanyata. The new league, which will be launched next year, will have biggies such as former India batsman Virender Sehwag, <keyword id="7128" type="PERSON" weightage="20" keywordseo="Brian-Lara">Brian Lara</keyword>, <keyword id="11666" type="PERSON" weightage="20" keywordseo="Graeme-Smith">Graeme Smith</keyword> among others. 
	 
	Talent management company, CA KWAN, along with Maanyata, will look after the new business venture until the actor is released from jail. Sanjay Dutt is expected to complete his sentence next year. 
	 
	Image Credit: Indiatimes.com

You Searched For "Munnabhai" and got 3 results

Could have made Munnabhai 3, 4, 5 ... and be a multi-millionaire: Vidhu Vinod Chopra

PTI

Simply Put: Boom or bust — how RBI’s decision to leave rates unchanged affects homebuyers

Ira Alok Puranik

Smitten by cricket, actor Sanjay Dutt buys cricket team in MCL

BI India Bureau

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