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New Delhi, Credit Card bill payment platform <keyword id="16650447" type="General" weightage="20" keywordseo="cred-ceo" source="Orion">CRED CEO</keyword> <keyword id="192201" type="General" weightage="20" keywordseo="kunal-shah" source="Orion">Kunal Shah</keyword> has revealed his monthly salary, stating that he takes home Rs 15,000 per months and also gave a reason for it. He held an "Ask Me Anything" session on Instagram on Sunday where a user asked: "Your salary at CRED is so low? How do you survive?" Responding to the question, Shah said: "I don't believe I should get a good salary till the company is profitable. My salary at CRED is Rs 15,000 per month, and I can survive as I sold my company FreeCharge in the past." Moreover, a user on Twitter shared a screenshot of the story in which the CEO responded to the question. "There are CEOs who take salaries in crores, then we have Kunal Shah," the user wrote with the screenshot. Shah's response, on the other hand, appears to have divided the internet. While some applauded his decision, others said that it is simply a method to save tax. "Being humble and flexing in the same sentence. His words always poke me to be curious," a user commented. "Bro, it's called tax saving, He definitely spending millions on his lifestyle," another user said. "He's also an angel investor and has invested in over 500 startups. His angel investments will also be giving him income as when he exits from investments," commented another person.

CRED CEO Kunal Shah reveals his salary, takes Rs 15,000 monthly

<ul class="summary-list"><li>Delinquent assets are taking over investment products that bundle risky commercial real estate debt, Bloomberg reported.</li><li>Collaterlized loan obligation distress rates surged 440% in 12 months ahead of January, a report said.</li></ul>Investment products that cobble together risky commercial-real-estate debt are becoming increasingly strained, as more and more of their makeup is taken over by delinquent assets, <a href="https://www.bloomberg.com/news/articles/2024-03-19/real-estate-pain-is-showing-up-in-collateralized-loan-obligations-clos?srnd=markets-vp" target="_blank" rel="noopener">Bloomberg</a> reported.The share of distressed debt within these collateralized loan obligations is now four times as high as it was seven months ago, compromising 7.4% of such products. CLO distress rates skyrocketed over <a href="https://cred-iq.com/blog/2024/02/23/cre-clo-distress-rates-surge-over-440-in-12-months/?utm_campaign=Newsletter&amp;utm_medium=email&amp;_hsmi=295398011&amp;_hsenc=p2ANqtz-8kVRTLXt5f244O_ojTSVvzPpZhUIV1LuFwOeDL4ec2BghQnzMIwu4m3alV3REMEjd8zpBnC04ZbpHfNnRMjzX8NaBbDA&amp;utm_content=295398011&amp;utm_source=hs_email" target="_blank" rel="noopener">440% in the 12 months ahead of January</a>, according to a report from CRED iQ.With outstanding CRE loans accounting for an estimated $80 billion of the market, some issuers are already taking on losses.CLOs function by bundling short-term loans for property renovations and expansions, a form of speculative debt often circumvented by banks and typical mortgage-backed securities. It's a market that suddenly surged in the pandemic, as remote work boosted appetite for apartment renovations. Between 2019 and 2021, CLO issuance skyrocketed from $19 billion to $45 billion, Bloomberg found.But as interest rates have made their way up, and <a href="https://www.businessinsider.com/housing-market-outlook-office-inventory-prices-pandemic-shortage-prices-goldman-2024-2">office demand</a> has stayed lackluster, borrowers are having an increasingly tougher time managing their debt.As with the broader commercial real estate market, this is prompting issuers to <a href="https://www.businessinsider.com/corporate-debt-maturity-high-yield-bonds-default-rate-interest-bernstein-2024-1">extend their maturities</a>, while reworking loans in a manner that's encouraging to borrowers — such as two or three-year extensions in return for more capital, Bloomberg said.Others are using cash reserves to buy out delinquent loans, purchasing a record $1.3 billion last year, according to JPMorgan estimates cited by the outlet. In 2022, buyouts stood at just $0.48 billion.Issues with CLOs reflect a bigger theme in commercial real estate, as even investment grade projects face debt concerns. For instance, <a href="https://www.businessinsider.com/office-market-crash-property-loans-commercial-real-estate-mortgage-payments-2024-1">office delinquency rates</a> jumped from 5.1% to 6.5% in the fourth quarter.With problems appearing to <a href="https://www.businessinsider.com/commercial-real-estate-big-trouble-crash-bank-crisis-2024-2">worsen for the sector</a>, some have cautioned that a<a href="https://www.businessinsider.com/commercial-real-estate-crash-property-price-drop-defaults-interest-rates-2024-1"> $2.2 trillion wave of distress</a> is set to hit in coming years.Still, CLO managers are showing some optimism, even as loan origination volumes have remained low, Barclays wrote in mid-March."They also see the pullback in lending from banks as a positive for their volumes. Many also expect property transactions to also increase in 2024," the bank said. "We continue to expect a very limited y/y increase and forecast only $10bn of issuance in 2024."

Risky commercial real estate investments are getting squeezed as the market collapses

Hash, India's first D2C millennial cigarette brand, announced today that it has raised close to US$ 3.5 mn (INR 25 crores) in recently concluded angel round. The round, that was led by Amrac Investment Trust, also saw participation by marquee angels - Kunal Shah (Founder, Cred, ex-Freecharge), Jitendra Gupta (Founder and CEO, Jupiter), Ashneer Grover (Co-Founder and Managing Director, BharatPe), Ankur Jain (Founder and CEO, Bira91), Anshoo Sharma (Co-Founder and CEO, <keyword id="3255375" type="PERSON" weightage="20" keywordseo="Magicpin">MagicPin</keyword>) and Suhail Sameer (Chief Executive Officer, BharatPe). Founded by <keyword id="5276331" type="PERSON" weightage="20" keywordseo="Shwetank-Jain">Shwetank Jain</keyword>, Hash is committed to empower the unorganized small retailers and paanwalas in the country through mobile-first tech products. Headquartered in Delhi-NCR, Hash is building disruptive technology-immersed products that will not only help digitize the businesses of paanwalas and small shopowners, but also build a more efficient supply chain and enable credit access to this segment, thereby boosting sales of its own brand Hash and other new age brands in the country. Shwetank holds a Masters in Management from <keyword id="5368204" type="ORGANIZATION" weightage="20" keywordseo="UCLA-University">UCLA University</keyword>, and has successfully built a Rs. 100 crores turnover home textile brand <keyword id="11852407" type="UNKNOWN" weightage="20" keywordseo="tapisserie">Tapisserie</keyword> in 3 years. The Hash team also includes seasoned professionals from the tobacco and FMCG industry including Mr. Jaskaran Singh Khurana, ex-Managing director for Golden Tobacco Limited. Speaking on the fund raise, Mr. Shwetank Jain, Founder, Hash, said, "Tobacco industry has a set of traditional players and aged brands. There is a large addressable market for freshly envisioned products targeted at millennials and distributed efficiently using technology. Also, there is urgent need to equip the millions of unorganized sellers and paanwalas with the latest technology solutions, so as to aid in their business growth and efficiency. With Hash, we are committed to empower this category of small shopowners and paanwalas." Added Mr. Kapil Chugh, Fund Promoter, Amrac Investment Trust, "Hash has the potential to do to tobacco what BIRA did to the alcobev industry. The interesting challenge is not only to introduce millennial first products, but at the same time change the way the product is distributed to lakhs of paanwaalas by disrupting supply chain using technology." Hash aims to build a team of 500+ professionals across levels, including feet on street sales force by the end of the current financial year. About Hash Hash, a new age D2C tobacco brand for the Gen Z and Millennials, was founded in the year 2021. The company aspires to be a market leader in Indian tobacco space by promoting its young products through digital supply chain solutions targeting the small shop owners and paanwalas. It is currently present in Delhi-NCR and will be expanding to other key cities in North India in the current fiscal year. It is committed to digitising the shops and lives of an everyday paanwalla, by building mobile based apps for smarter supply chain and business growth. In just 3 months of operation, the company has built a network of 1,000 small shop owners and paanwalas. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/iphone-13-series-to-reportedly-launch-with-bigger-batteries-and-improved-5g-support/articleshow/85297919.cms">iPhone 13 series to reportedly launch with bigger batteries and improved 5G support</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/news/pm-modi-launches-vehicle-scrappage-policy-aims-to-generate-35000-jobs-and-attract-10000-crore-investment/articleshow/85297011.cms">Indian government announces vehicle scrappage policy, aims to generate 35,000 jobs and attract ₹10,000 crore investment</a>

Cred's Kunal Shah, BharatPe, Bira91 founders invest in Hash

<ul class="summary-list"><li>VO2 max is a trendy stat for measuring your fitness, and it can help improve longevity too. </li><li>Having a higher VO2 max is good, but more important for health is how the number changes over time. </li></ul>Forget about a big bench press or heavy squat. If you want to show off your fitness cred, a specific smartwatch screenshot is the new gym selfie.Once reserved for exercise science nerds, a stat called VO2 max — a measure of how well your heart performs during exercise — is trickling into the mainstream.Self-appointed anti-aging gurus like <a target="_blank" href="https://www.businessinsider.com/bryan-johnson-before-and-after-anti-aging-longevity-supplements-2023-8">Bryan Johnson</a> enthusiastically <a target="_blank" href="https://twitter.com/bryan_johnson/status/1665832291824975872">share</a> their VO2 max stats on X (formerly Twitter), ostensibly as proof that their lifestyle routine is working, and makes them fitter than most teenagers.Now, internet forums dedicated to longevity are filling up with people sweating over their <a target="_blank" href="https://www.businessinsider.com/guides/health/fitness/best-apple-watch-health-features">Apple Watches</a>, asking each other if their numbers measure up, or desperately seeking advice to fix less-than-impressive measurements to shore up their health.It's true: knowing this metric and working to improve it could, in theory, help you to unlock a <a target="_blank" href="https://www.businessinsider.com/tips-easy-simple-boost-longevity-live-longer-healthier-habits-2024">longer, healthier life</a>. It is also hard to measure — and that is a blessing for the growing health tech sector, with companies rushing to help the longevity-focused elite calculate and improve their own VO2 max."It's very similar to a 401(k) in a way. If you are lucky or smart and you start saving for 401(k) at the age of 20, you have a much better chance to save a lot of money," anti-aging researcher Gil Blander, who is also the founder and chief scientific officer at personalized health tech company InsideTracker, told Business Insider. "If you are starting at the age of 70, it's good, but it's much better to start earlier."Keeping tabs on your VO2 max, and especially how it changes over time, can help you <a target="_blank" href="https://www.businessinsider.com/how-to-make-the-most-gains-short-workout-science-2022-12">get the most out of your workouts</a>, and train for optimal heart health.However, putting too much stock in a single data point can backfire if you're not also taking into account other metrics and lifestyle factors, longevity researchers warn. There's a way to use VO2 max to improve heart health and fitness without getting too bogged down in the data.<h2>What is VO2 max and how is it measured?</h2>VO2 max refers to the maximum amount of oxygen your body can use during aerobic exercise — in other words, how well your heart can circulate oxygenated blood to your muscles, and how well your muscles can pull out that oxygen for energy."It's traditionally considered a marker of endurance. So you have a higher VO2 max, you have a better endurance capacity," Blander said.It was coined in 1923 by <a target="_blank" href="https://academic.oup.com/qjmed/article-abstract/os-16/62/135/1594478?redirectedFrom=fulltext">British physiologists Archibald Hill and Hartley Lupton</a>. The term derives from the quantity in volume (the "V"), oxygen (O2, the chemical symbol for the oxygen molecule), and the abbreviation of "maximum."It's typically described as milliliters of oxygen consumed per minute per kilogram of body weight.For instance, the VO2 max of an active woman might be around 35 mL/kg/min, according to<a target="_blank" href="https://health.clevelandclinic.org/what-is-vo2-max-and-how-to-calculate-it"> Cleveland Clinic</a>. Men tend to have a slightly higher VO2 max, so an example for an active man could be around 42 mL/kg/min. These numbers hold true to around age 45, after which they start to dip. Unless you take your exercise seriously — it's possible for <a target="_blank" href="https://www.businessinsider.com/longevity-tips-older-athlete-exercise-diet-2024-1">elite athletes in their 80s</a> or beyond to have a VO2 max as good or better than people decades younger. One <a target="_blank" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4348610/">2015 case study</a>, for instance, found an 80-year-old man with a VO2 max of 50 mL/kg/min, comparable to a sedentary 20-year-old or active 35-year-old.But it doesn't just matter for working out. How well your body uses oxygen can point to <a target="_blank" href="https://www.businessinsider.com/key-factors-predict-heart-health-according-to-doctors-2022-6">how well your heart is functioning</a> overall, and how healthy it is under stress, according to Dr. Edo Paz, a cardiologist at White Plains Hospital and senior vice president of medical affairs at the digital health company Hello Heart.<div type="image" title="An athlete wearing as face mask and running on a treadmill as part of a VO2 max test" height="1257" width="2384" msid="108162902" hostid="261" sizebytes="67300"></div>Paz said VO2 max is most accurately measured with a stress test, which can also assess potential heart problems, such as issues with the valves.It can be tough to accurately measure VO2 max at any given moment without heading into a lab, according to Paz, but you may not need to. Noting changes over time can indicate if your heart health is improving, he said.<h2>Your VO2 max can tell you a lot about how your heart is aging</h2>VO2 max can be a shorthand to help assess and <a target="_blank" href="https://www.businessinsider.com/how-cardio-exercise-men-can-prevent-cancer-2023-7">lower your risk of dying early</a> from illnesses like heart disease, diabetes, and cancer."If you have higher VO2 max you have a much better chance based on our data analysis to live better, longer, which is amazing," Blander said.Put simply, it can be a single number that gives you a sense of where you stand in terms of fitness now, and the odds that you'll keep being healthy and fit in the future."I like to think of it as a 'score' of your cardio and fitness potential. The higher your score, the greater your longevity," Mike Thomson, personal trainer and run coach at Life Time Overland Park, told Business Insider.VO2 max also plays an important role in making sure you can keep up with the demands of day-to-day life even beyond your workouts, explained exercise physiologist Kate Baird. Your VO2 max tends to decrease as you get older, which over time can make it harder to do simple activities, according to Baird."If you're already at a low level, you'll start to feel those declines. Walking a few blocks down the street feels hard or a leisurely bike ride doesn't feel so leisurely," she said. "Keeping fitness high helps you maintain autonomy and translates to a longer life."<h2>How to diversify your training portfolio for a stronger VO2 max</h2>In terms of boosting VO2 max, Thomson also reached for money management as a metaphor for <a target="_blank" href="https://www.businessinsider.com/how-to-live-longer-lifestyle-habits-longevity-doctor-2024-2">heart health longevity</a>.If VO2 max is your fitness retirement plan, training it can be similar to investing with a combination of strategies for best results."I like to diversify my training portfolio," he said. "We need to do the majority of our investing at a lower intensity and some at a higher intensity to improve maximum efficiency," Thomson said.<div type="image" title="Mike Thomson, personal trainer" height="5221" width="3972" msid="108162903" hostid="261" sizebytes="319268"></div>A combination of both high and low intensity, in a ratio of around 80% easy and 20% hard, is often considered a "sweet spot" for maximizing the benefits of fitness.<a target="_blank" href="https://www.businessinsider.com/what-is-zone-2-cardio-exercise-training-benefits-2023-10">Low-intensity exercise</a> helps build a foundation for aerobic fitness — think 30 minutes or more of jogging or biking at a steady pace that doesn't leave you out of breath or unable to carry a conversation.<a target="_blank" href="https://www.businessinsider.com/guides/health/fitness/tabata-workout">Exercising at a high intensity</a>, near your physical limit, can train your body to use more oxygen. One example is doing one minute of an all-out sprint, then resting for two minutes, and repeating for eight total rounds, Thomson said.It's also a good idea to fit in some <a target="_blank" href="https://www.businessinsider.com/weight-lifting-and-cardio-may-help-you-live-longer-study-2022-9">strength training</a>, which can prevent injury and help you improve faster at cardio, while also boosting longevity in its own right, research suggests.<h2>How much should you worry about your VO2 max?</h2>The bottom line is that when it comes to <a target="_blank" href="https://www.businessinsider.com/longevity-tips-older-athlete-exercise-diet-2024-1">fitness and longevity</a>, VO2 max can be a useful metric to help you train for a longer life, but you don't need to spend too much time worrying about the data or comparing your scores to someone else, according to Baird.<div type="image" title="A man checking on smartwatch while riding a bicycle through a park" height="1414" width="2120" msid="108162906" hostid="261" sizebytes="140808"></div>"If you're someone who wants to just be healthy and exercise, you don't necessarily have to track VO2 max," Baird said.If you're not an elite athlete, you can improve your VO2 max over time just by focusing on your work capacity, such as how many miles you can cover before tiring. If you're able to do more over time, or once-challenging workouts start to feel easier, you're on the right track, no lab testing required.You can also take advantage of VO2 max training regardless of whether you're already athletic, or completely sedentary, just by adding more movement to whatever you're doing now. Every little bit counts, so <a target="_blank" href="https://www.businessinsider.com/how-five-hundred-extra-steps-per-day-live-longer-2023-9">making time for a few extra minutes of exercise</a> in your daily schedule is like putting money in the bank for the long haul."Everyone can improve their VO2 max. Maybe you cannot be the world champion of the marathon, but you can run and you can cycle," Blander said.

Your VO2 max is like a '401(k) for longevity' — here's how to invest in it for better heart health and a longer life

Nothing, a London-based consumer technology company, on Thursday announced it has appointed former <keyword id="10591" type="COMPANY" weightage="20" keywordseo="Samsung">Samsung</keyword> executive <keyword id="68726" type="PERSON" weightage="20" keywordseo="manu-Sharma">Manu Sharma</keyword>, as Vice President and General Manager of <keyword id="10825023" type="COMPANY" weightage="20" keywordseo="Nothing-India">Nothing India</keyword>. Sharma will drive the growth, business development and operations for Nothing in the country, a new venture of OnePlus Co-founder <keyword id="2497827" type="PERSON" weightage="20" keywordseo="Carl-Pei">Carl Pei</keyword>, in India. "Sharma is an experienced business leader with a deep knowledge and understanding of the consumer technology industry in India. With his proven track record and experience, he will play a pivotal role for our growth in India," said Pei, CEO and Co-Founder of Nothing. Sharma has earlier worked with <keyword id="10597" type="COMPANY" weightage="20" keywordseo="Samsung-mobile">Samsung Mobile</keyword> and the Hewlett-Packard (now bifurcated) in India. He will oversee the regional product strategy, marketing and sales operations for the brand, as well as setting up the India office. "Carl's vision is inspiring and I am confident that Nothing will have a meaningful impact on the consumer technology market in India and around the world," said Sharma. The company is set to foray into next-gen consumer devices soon. It has also opened up for its community to invest in the company through a community equity funding round. Nothing will allow its community to invest a total of $1.5 million at the same valuation as their Series A funding with GV (formerly <keyword id="234332" type="COMPANY" weightage="20" keywordseo="Google-Ventures">Google Ventures</keyword>). The London-based startup has so far raised over $22 million. In December, the company raised $7 million in seed financing December that included tech leaders and investors such as Tony Fadell, Casey Neistat, Kevin Lin, <keyword id="1949927" type="PERSON" weightage="20" keywordseo="Steve-Huffman">Steve Huffman</keyword> and Josh Buckley. Kunal Shah, Founder, <keyword id="1763236" type="COMPANY" weightage="20" keywordseo="CRED">CRED</keyword>, also invested in Nothing, although the amount has not been disclosed yet. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/one-plus-co-founder-carl-pei-picks-android-creator-andy-rubins-essential-to-put-the-giant-reset-button-in-consumer-tech/articleshow/80970965.cms">OnePlus co-founder Carl Pei picks Android creator Andy Rubin’s Essential to put the “giant reset button” in consumer tech</a> <a href="https://www.businessinsider.in/tech/news/carl-peis-nothing-invites-users-to-invest-in-the-company-1-5-million-worth-shares-available/articleshow/80986814.cms">Carl Pei’s Nothing invites users to invest in the company – $1.5 million worth shares available</a> <a href="https://www.businessinsider.in/tech/news/carl-pei-led-nothing-brings-in-teenage-engineering-as-founding-partner/articleshow/81191042.cms">Carl Pei-led Nothing brings in Teenage Engineering as founding partner</a>

Carl Pei's Nothing ropes in former Samsung executive Manu Sharma to lead its India operations

<ul><li><keyword id="3489555" type="General" weightage="20" keywordseo="upstox" source="Orion">Upstox</keyword> launched innovative investment features on Whatsapp to onboard new clients quickly.</li><li>It now allows users to invest in IPOs through Whatsapp 24*7 with a 5-step method.</li><li>At present, Upstox claims to have a client base of 70 lakh and aims to increase it to 1 crore by FY22.</li></ul>Since investors are going gaga over the back-to-back initial public offerings (<keyword id="6354763" type="General" weightage="20" keywordseo="ipo" source="Orion">IPO</keyword>) and strong listing gains, new age investment platform Upstox has found a way to leverage from the ongoing IPO rush. The online broking firm has launched a quick and convenient procedure for users to invest in IPOs through Whatsapp. For those who do not have an account with Upstox can also invest in IPOs or even open a demat account through Whatsapp itself. One can invest in IPOs with just a 5-step method on Whatsapp: 1. Say ‘Hi’ to WhatsApp Chat BOT ‘Uva’ on the official Upstox Whatsapp number - 9321261098 2. Using WhatsApp Chat BOT ‘Uva’, click on ‘IPO Application’ 3. Enter the registered mobile number and One-time password (OTP) generated 4. Click on ‘Apply for IPO’ 5. Select the IPO which you want to subscribe With this integration, Upstox aims to achieve a five-fold growth in IPO applications. Currently, Upstox claims to have a client base of 70 lakh and aims to increase it to 1 crore by the end of FY22. “With an aim to further strengthen our customer base in deep India and encourage more millennials to invest, we have integrated with WhatsApp, which is being widely used by users across the country,” Shrini Viswanath, co-founder at Upstox. To allay data breach concerns, Upstox said that no documents will be uploaded or sent as an attachment over the chat on Whatsapp. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/kunal-shahs-cred-buys-corporate-expense-management-company-happay-for-180-million/articleshow/88025009.cms">Kunal Shah’s CRED has spent $180 million to acquire Happay, a corporate expense manager for Byju’s, OYO and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/from-today-negative-covid-19-test-report-and-seven-days-quarantine-mandatory-for-international-travellers-to-india/articleshow/88022063.cms">From today, negative COVID-19 test report and seven days' quarantine mandatory for international travellers to India</a>

Investment platform Upstox comes up with quick IPO application process through Whatsapp

New Delhi, June 2 (IANSlife) A rise in spending on digital subscriptions for services like OTT streaming platforms, online classes and e-newspaper subscriptions, and a sharp drop in dining-out and ordering food online, were among what marked spending patterns of affluent Indians during the pan-India lockdown, according to CRED. According to CRED data accessed by IANSlife, it was unsurprising to note that credit card spending dropped initially by 10 per cent when the lockdown was announced in March and went down even further by 51 per cent when it was in full swing April-onwards. The closure of non-essential online and offline marketplace services explains why Indians spent less in this period The data is based on credit card spending patterns of CRED's million+ members across Delhi, Mumbai and Bengaluru, with February as baseline. What they rushed to buy? When the lockdown was announced in late March, Delhiites felt the need to tank up which led to a substantial increase in fuel spends on their credit card, by up to 50 per cent within the first week, while medicals spends for Mumbaikars rose by a staggering 100 per cent. Bangaloreans, instead, preferred to stock up on essentials with residents spending the most on online grocery shopping which increased by 44 per cent, CRED said. No spending on non-home food When it comes to food habits in March, physical grocery spends rose in all three metropolitans, as did online grocery spends. On average, food ordering spends decreased the cities by 24 per cent, and those on dining out saw an even sharper decline - with at least 40 per cent in all three cities. The figures changed in April, as people did not step out for even essentials. Physical grocery spends recorded the highest decline in Delhi (63 percent), followed by Bengaluru (45 per cent) and then Mumbai (40 per cent). Online grocery spends took a hit for worse in April, as did food ordering and dining out. The latter saw massive drops - Delhi by 88 per cent, Mumbai by 90 per cent and Bengaluru by 82 per cent. Entertainment comes home People didn't step out of their homes but entertained themselves online. While spends on food and going out declined across cities, a major spike was seen in spending on digital subscriptions like online entertainment as well as education or news services. According to CRED, this clearly reflects that beyond food, medicines and utilities, millennials invested majorly on learning and entertainment during these unprecedented times. Subscription spends started rising across cities as soon as the lockdown was announced. Fuel spends Spends on travel and cab services declined when the lockdown was announced and subsequently. Delhiites still prioritised fuelling up during this time with nowhere to go. Cab spends decreased by an average of 41 per cent. Travel spends decreased by 50-55 per cent across Delhi, Mumbai and Bengaluru and this figure dropped to a further 86 per cent average in April. Shop till you drop? According to CRED, there was a noticeable decline in e-commerce and physical shopping across all cities during this time, this is understandable as the functioning of offline retailers, including all malls which continue to remain shut, andonline marketplaces were affected during the lockdown period. E-commerce spends increased marginally when the lockdown was announced, but then dropped significantly during the lockdown as only essential goods were sold for a majority of this period. In April, e-commerce dropped by an average of 90 per cent and a similar figure was seen for physical shopping. Health is wealth Mumbai clearly prioritised spends on their health when the lockdown was announced, with spikes in both insurance and medical spending. In March, insurance spends rose across all three cities, with the highest spike noticed in Mumbai where spends increased by 23 per cent, followed by Delhi by 11 per cent and Bengaluru by 9 per cent. Medical spends rose in Mumbai by 100 per cent and Bangalore by just 14 per cent. Spends in Delhi remained flatduring this time. In April, insurance spends somewhat dropped, while medical spends dropped majorly as people settled into the new routine. (Siddhi Jain can be contacted at siddhi.j@ians.in) --IANS sj/pg/sdr/

You Searched For "cred investments" and got 7 results

CRED CEO Kunal Shah reveals his salary, takes Rs 15,000 monthly

IANS

Risky commercial real estate investments are getting squeezed as the market collapses

Filip De Mott

Cred's Kunal Shah, BharatPe, Bira91 founders invest in Hash

PTI

Your VO2 max is like a '401(k) for longevity' — here's how to invest in it for better heart health and a longer life

Gabby Landsverk

Carl Pei's Nothing ropes in former Samsung executive Manu Sharma to lead its India operations

IANS

Investment platform Upstox comes up with quick IPO application process through Whatsapp

Bhakti Makwana

Grocery buying, medical bills guided lockdown spending: CRED data

IANS

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