Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Shares of Anil Ambani-led group firms -- <keyword id="20367971" type="General" weightage="20" keywordseo="reliance-home-finance" source="keywords">Reliance Home Finance</keyword> Ltd, <keyword id="6360089" type="General" weightage="20" keywordseo="Reliance-Power" source="Orion">Reliance Power</keyword> and <keyword id="46907" type="General" weightage="20" keywordseo="Reliance-Communications" source="Orion">Reliance Communications</keyword> -- hit their <keyword id="10112182" type="General" weightage="20" keywordseo="lower-circuit-limits" source="Orion">lower circuit limits</keyword> on Monday as investors continued to desert the counters after markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">Sebi</keyword> barred the industrialist and 24 others from the securities market for five years on charges of diversion of funds from <keyword id="19936674" type="General" weightage="20" keywordseo="Reliance" source="keywords">Reliance</keyword> Home Finance Ltd. The stock of Reliance Power dropped 4.99 per cent to hit the lower circuit limit of Rs 32.73 on the BSE. Shares of Reliance Home Finance Ltd tumbled 4.93 per cent to Rs 4.24 -- the lowest trading permissible limit for the day. Reliance Communications dived 4.92 per cent to touch the lower circuit of Rs 2.32. Reliance Infrastructure also declined 2.90 per cent to Rs 205.55. Shares of Reliance Infrastructure, Reliance Home Finance and Reliance Power had slumped on Friday also. Sebi has imposed a penalty of Rs 25 crore on Ambani and restrained him from serving as a director or Key Managerial Personnel (KMP) in any listed company or Sebi-registered entity for five years. Besides, a fine ranging Rs 21 crore to Rs 25 crore has been levied on 24 entities. Also, the regulator barred Reliance Home Finance from the securities market for six months and slapped a fine of Rs 6 lakh on it. After receiving multiple complaints alleging the diversion/siphoning of funds of Reliance Home Finance Ltd, Sebi conducted an investigation for the period of FY 2018-19 to ascertain any regulatory violations. In its probe, Sebi found that <keyword id="19902194" type="General" weightage="20" keywordseo="Anil-Ambani" source="keywords">Anil Ambani</keyword>, with the help of RHFL's KMPs -- Amit Bapna, Ravindra Sudhalkar and Pinkesh R Shah -- have orchestrated a fraudulent scheme to "siphon off" funds from RHFL by disguising them as loans to entities linked to him. Although the board of directors of RHFL had issued strong directives to stop such lending practices and review corporate loans regularly, the company's management ignored these orders. Sebi, in its 222-page order on Thursday, noted the cavalier approach by the company's management and promoter in approving loans worth hundreds of crores to companies that had little to no assets, cash flow, net worth, or revenue. This suggests a sinister objective behind the 'loans'. The situation becomes even more suspicious when considering that many of these borrowers were closely linked to the promoters of RHFL. Eventually, most of these borrowers failed to repay their loans, causing RHFL to default on its own debt obligations. This led to the company's resolution under the RBI Framework, leaving its public shareholders in a difficult position.

Reliance Home Finance, Reliance Power shares hit lower circuit limits

Both <keyword id="19896381" type="General" weightage="100" keywordseo="nifty" source="keywords">Nifty</keyword> and <keyword id="19896382" type="General" weightage="20" keywordseo="sensex" source="keywords">Sensex</keyword> got off to a slow start, with <keyword id="19896381" type="General" weightage="100" keywordseo="nifty" source="keywords">Nifty</keyword> trading at 23,864.35 points, down by 0.02% and <keyword id="19896382" type="General" weightage="20" keywordseo="sensex" source="keywords">Sensex</keyword> trading at 78,749.51 points, up by 0.096 % as of 9:57 am. As for sectoral indices, Nifty bank, auto, IT, financial services, FMCG, PSU, private bank and oil and gas opened the day in red, while media, realty, pharma and metal managed to gain early ground. <cmsannotation type="cmsannotation" annotationid="Stocks in Action" comment="subhead" text="Stocks in Action">Stocks in Action</cmsannotation> <keyword id="19963567" type="General" weightage="20" keywordseo="ultratech-cement" source="keywords" meta.keywordsubtype="org" meta.entityname="ultratech cement" meta.hostid="261" meta.entityid="ultratech cement">UltraTech cement</keyword> informed the exchange that it has purchased 7.06 crore equity shares, or about 23% of <keyword id="22197392" type="General" weightage="20" keywordseo="india-cement-limited" source="keywords" meta.keywordsubtype="org" meta.entityname="india cement limited" meta.hostid="261" meta.entityid="india cement limited">India Cement Limited</keyword>'s equity share capital. The deal was finalised at Rs 267 per share. Stocks of <keyword id="19963567" type="General" weightage="20" keywordseo="ultratech-cement" source="keywords" meta.keywordsubtype="org" meta.entityname="ultratech cement" meta.hostid="261" meta.entityid="ultratech cement">UltraTech Cement</keyword> were trading at Rs 11,830, up by 6.16% during early morning trade. After JSW Steel announced yesterday that it will be spending around $110 million on upgrading its Texas-based manufacturing facility to produce specialised steel products required by the US government to meet its offshore wind energy targets, the stock was trading at Rs 936.55, up by 1.89% Grasim, Dr. Reddy's, JSW Steel and Tata Steel were amongst the other stocks that were trading in green this morning. On the other hand, <keyword id="19967472" type="General" weightage="20" keywordseo="mahindra" source="keywords">Mahindra</keyword> and <keyword id="19967472" type="General" weightage="20" keywordseo="mahindra" source="keywords">Mahindra</keyword>, HCLTech, Wipro and Apollo hospitals were trading in red during early morning trade. <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords" meta.keywordsubtype="org" meta.entityname="tata motors" meta.hostid="261" meta.entityid="tata motors">Tata Motors</keyword> announced that it is partnering with <keyword id="19955371" type="General" weightage="20" keywordseo="bajaj-finance" source="keywords" meta.keywordsubtype="org" meta.entityname="bajaj finance" meta.hostid="261" meta.entityid="bajaj finance">Bajaj Finance</keyword> to enter the commercial vehicle financing space. Reports suggest that the company is looking to introduce a host of consumer finance products and embedded insurance by the end of this year. During early trade today, <keyword id="19955371" type="General" weightage="20" keywordseo="bajaj-finance" source="keywords" meta.keywordsubtype="org" meta.entityname="bajaj finance" meta.hostid="261" meta.entityid="bajaj finance">Bajaj Finance</keyword>'s stock was trading at Rs 7,193.75, up by 0.5%. According to Mr. Aditya Gaggar, director of Progressive Shares, "select buying in heavyweight counters helped the index end the session at yet another record level of 23,869. With an extremely overbought reading in the Auto sector, we continue to hold our stance of correction in the form of profit booking (2W &amp;3W); however, buying interest can be seen in the Ancillary stocks. Reliance-led rally pushed the energy sector higher; the sustainability of the momentum will depend on follow-up buying. Britannia and GodrejCP look strong in the FMCG segment. Some more downside is still left in the metal and real estate sectors. Agro/specialty chemicals and textile stocks are gaining momentum, so one should keep an eye on the same." Sameet Chavan, Head of Research, Technical and Derivatives at Angel One, asks traders to stay agile and regularly shift focus between themes. "for the last two sessions, heavyweight counters have driven the market higher, with <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords" meta.keywordsubtype="org" meta.entityname="reliance" meta.hostid="261" meta.entityid="reliance">Reliance</keyword> up more than 4% in yesterday's session, significantly contributing to the benchmark's rise. In this scenario, midcaps have taken a back seat, with no major traction seen from their end. We believe the shift in momentum and sector rotation will continue.".

Market Morning: JSW Steel, UltraTech Cement in action

New Delhi: <keyword id="19902194" type="General" weightage="100" keywordseo="Anil-Ambani" source="keywords">Anil Ambani</keyword> is reviewing a <keyword id="20738747" type="General" weightage="20" keywordseo="Sebi-order" source="keywords">Sebi order</keyword> imposing a fine and banning him from capital markets for five years in an alleged fund diversion case and will take appropriate next steps as legally advised, his spokesperson said in a statement on Sunday. <keyword id="19898589" type="General" weightage="20" keywordseo="ambani" source="keywords">Ambani</keyword>, the spokesperson in a statement said, had resigned from the board of <keyword id="21260537" type="General" weightage="20" keywordseo="Reliance-Infrastructure-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Infrastructure Ltd" meta.hostid="153" meta.entityid="Reliance Infrastructure Ltd">Reliance Infrastructure Ltd</keyword> and Reliance Power Ltd, pursuant to Sebi's interim order dated February 11, 2022 in the matter pertaining to Reliance Home Finance Ltd. He "is in compliance with the said interim order (of February 11, 2022) for the last two and half years," the statement said. On the August 22 order that banned him and 24 others from the securities market for five years on charges of diversion of funds, the spokesperson said, "Mr Ambani is reviewing the final order dated August 22, 2024 passed by Sebi in the said matter, and will take appropriate next steps as legally advised." The Securities and Exchange Board of India (Sebi) had also imposed a fine of Rs 25 crore on Ambani, saying he orchestrated a scheme to "siphon off" funds from Reliance Home Finance, a listed subsidiary of conglomerate <keyword id="20479923" type="General" weightage="20" keywordseo="Reliance-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Group" meta.hostid="153" meta.entityid="Reliance Group">Reliance Group</keyword> of which he is chairman. The ban means that he and the other 24 will not be able to access the securities market and are prohibited from buying, selling or otherwise dealing in securities, directly or indirectly. In a separate statement, Mumbai-listed Reliance Infrastructure Ltd said it "was not a noticee or party to the proceedings before Sebi in which the order is passed. No directions are given in the order against Reliance Infrastructure Ltd". "Mr Ambani had resigned from the board of directors of Reliance Infrastructure Ltd pursuant to the interim order dated February 11, 2022 passed by Sebi in the same proceedings. Therefore, the order dated August 22, 2024 passed by Sebi has no bearing whatsoever on the business and affairs of Reliance Infrastructure Ltd," it said. Reliance Power, the other listed company of Anil Ambani's group, also issued a similar statement saying Ambani had resigned in 2022 and that the latest Sebi order has no bearing on it. Sebi in the August 22 order had stated that a "fraudulent" scheme "siphoned off" funds from Reliance Home Finance, which provides loans for housing and construction, by structuring them as loans to credit-unworthy borrowers. Most of these borrowers were linked to "promoters", the regulator had said. Anil Ambani and his elder brother Mukesh had in July 2006 split their father Dhirubhai Ambani-created Reliance Industries Ltd. Anil Ambani's Reliance Group spanned financial services, infrastructure and telecommunications while the elder brother got the traditional oil refining and petrochemicals business. Over the last few years, Anil Ambani has seen three of the largest firms within the group, including Reliance Communications, Reliance Capital, and Reliance Infrastructure, undergoing bankruptcy over unpaid debt. Sebi has charged that more than Rs 9,000 crore worth of loans from Reliance Home Finance were made to "nondescript borrowers who had no demonstrable financial ability to repay any of it". The other 24 banned include executives of Anil Ambani's Reliance Group and other unlisted companies connected to him.

Anil Ambani reviewing SEBI order, to take appropriate steps: Statement

<keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords">Reliance Industries</keyword>' 2024 annual report revealed that <keyword id="20671686" type="General" weightage="100" keywordseo="JioBharat" source="keywords">JioBharat</keyword>, an affordable keypad smartphone, has achieved an impressive 50 per cent <keyword id="20038792" type="General" weightage="20" keywordseo="market-share" source="keywords">market share</keyword> in the <keyword id="3342432" type="General" weightage="20" keywordseo="sub-rs-1" source="Orion">sub-Rs 1</keyword>,000 segment. Launched with the mission to empower every Indian with digital services, JioBharat has marked a significant step towards digital freedom for the 250 million feature phone users in India, bridging the digital divide like never before. Since its launch a year ago, JioBharat has been transforming lives by offering features and digital capabilities such as UPI, JioCinema, and JioTV, enabling various segments of society to achieve more. This affordable device not only empowers users with smartphone capabilities but also provides high-quality and affordable data, making it accessible to the common people. Despite the recent industry-wide tariff increases, <keyword id="2003276" type="General" weightage="20" keywordseo="Jio" source="Orion">Jio</keyword> has maintained consistent pricing for JioBharat, allowing users to enjoy full digital capabilities at just Rs 123 per month. In contrast, the most affordable plans from other operators start at Rs 199 per month and enables access to limited functionality, restricted to voice and SMS services, as their feature phones do not support data or LTE usage. In his letter to shareholders, <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>, Chairman of Reliance Industries Ltd, stated, "The launch of the JioBharat phone is another revolutionary step towards bridging the country's digital divide. A smartphone at the price of a feature phone, the JioBharat phone will go a long way in realizing a 2G-mukt Bharat." In 2016, when Jio was launched, it left no stone unturned to democratise internet access and pass the benefits of technology to every Indian. With affordable high-speed data and a ubiquitous network, technology was no longer a privilege for a select few. The subsequent launch of affordable devices like <keyword id="22711694" type="General" weightage="20" keywordseo="jiophone" source="keywords">JioPhone</keyword> and the availability of affordable wired broadband (<keyword id="20282548" type="General" weightage="20" keywordseo="jiofiber" source="keywords">JioFiber</keyword>) has truly democratised data connectivity. "With the launch of Jio 4G in 2016, we set out on a journey to make digital inclusion in India a reality. Jio turned a Data Dark India into a Data Rich nation, supplying every Indian home with affordable, high-speed 4G data. And this year, Jio has further enhanced the country's digital infrastructure by rolling out its True5G network across India in world-record time," states Mukesh Ambani's letter to shareholders in the latest annual report released on Thursday.

JioBharat captures 50% market share in sub-Rs 1,000 segment: Reliance annual report

All the top-10 most valued firms suffered a combined erosion of Rs 1,93,181.15 crore in market valuation last week, with Tata Consultancy Services (<keyword id="6357150" type="General" weightage="50" keywordseo="tcs" source="Orion" topicspecial.url="https://economictimes.indiatimes.com/tata-consultancy-services-ltd/stocks/companyid-8345.cms">TCS</keyword>) and HDFC Bank taking the biggest hit, in line with bearish trend in equities. In a holiday-shortened last week, the BSE benchmark tanked 1,614.82 points or 2.46 per cent. The market valuation of TCS plunged Rs 52,580.57 crore to Rs 12,25,983.46 crore, the most among the top-10 firms. HDFC Bank's market capitalisation (mcap) slumped Rs 40,562.71 crore to Rs 11,14,185.78 crore. The valuation of <keyword id="6355199" type="General" weightage="50" keywordseo="reliance-industries" source="Orion" topicspecial.url="https://economictimes.indiatimes.com/reliance-industries-ltd/stocks/companyid-13215.cms">Reliance Industries</keyword> Limited dropped Rs 22,935.65 crore to Rs 15,32,595.88 crore and that of Infosys tumbled Rs 19,320.04 crore to Rs 5,73,022.78 crore. The mcap of Bharti Airtel fell by Rs 17,161.01 crore to Rs 5,13,735.07 crore and that of <keyword id="111876" type="General" weightage="50" keywordseo="bajaj-finance" source="Orion" topicspecial.url="https://economictimes.indiatimes.com/bajaj-finance-ltd/stocks/companyid-11260.cms">Bajaj Finance</keyword> diminished by Rs 15,759.95 crore to Rs 4,54,814.95 crore. ICICI Bank's valuation tanked Rs 13,827.73 crore to Rs 6,39,292.94 crore and that of <keyword id="6357073" type="General" weightage="50" keywordseo="itc" source="Orion" topicspecial.url="https://economictimes.indiatimes.com/itc-ltd/stocks/companyid-13554.cms">ITC</keyword> slipped Rs 5,900.49 crore to Rs 5,40,637.34 crore. The mcap of Hindustan Unilever declined by Rs 3,124.96 crore to Rs 5,83,098.06 crore and that of <keyword id="6354731" type="General" weightage="50" keywordseo="state-bank-of-india" source="Orion" topicspecial.url="https://economictimes.indiatimes.com/state-bank-of-india/stocks/companyid-11984.cms">State Bank of India</keyword> dipped Rs 2,008.04 crore to Rs 5,00,670.73 crore. In the ranking of top-10 firms, Reliance Industries continued to retain the title of the most valued company followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, ITC, Bharti Airtel, State Bank of India and Bajaj Finance.

Mcap of top-10 most valued firms plunge Rs 1.93 lakh cr in last week's trade

<ul class="summary-list"><li>Scott Kollins is a clinical psychologist who studies families and kids.</li><li>His son had a tech addiction and needed limited access to computers.</li></ul>This as-told-to essay is based on a conversation with Scott Kollins, chief medical officer at <a target="_blank" href="https://www.aura.com/leadership">Aura</a>. It has been edited for length and clarity.By the time my son was in seventh grade, he was struggling with an addiction to technology. As a psychologist, I had questioned in the past whether phones and computers could truly be addictive. But when I saw my son experiencing withdrawal symptoms and lying to get more screen time, I realized they could be — and it was happening right in my house.Once I realized my son had a serious challenge, my wife and I made a plan to limit his use of technology, which included <a target="_blank" href="https://www.businessinsider.com/kid-screen-addiction-child-psychologist-parent-tips-2024-9">locking up all devices in the house at night</a>. But we faced another challenge: school.At my son's school, like most these days, all students had laptops. There are a lot of benefits to using <a target="_blank" href="https://www.businessinsider.com/parenting-screen-time-tech-free-school-2024-5">technology in the classroom</a>, but for some kids, like my son, having a computer isn't an advantage.<h2 id="6204326c-79c5-4249-9b7c-e15f5d84b906">We started with an open conversation with the school</h2>I knew I wanted my son to have less access to <a target="_blank" href="https://www.businessinsider.com/how-technology-is-shaping-the-future-of-education-2017-12">technology at school</a>. But I also realized that by removing the thing that was challenging (the computer), I was creating a whole set of new challenges. Since I'm not in the classroom, I probably didn't even know what some of those unintended consequences were.My wife and I didn't know what the right answer was and didn't claim to, so we asked for a meeting with the school. My son has <a target="_blank" href="https://www.businessinsider.com/how-adult-adhd-autism-diagnosis-changed-life-neurodivergent-2023-12">autism and ADHD</a>, so he has an individualized education program (IEP). That gave us a big advantage because the school had to listen to our concerns. Plus, we already had an established means of communicating with them and trust with my son's educational team.<h2 id="268895a0-ca6e-4701-8f44-b4586ba9427b">We realized we needed a fluid approach</h2>At home, we could simply lock up computers and phones when our son had reached his <a target="_blank" href="https://www.businessinsider.com/broke-parenting-rules-allowed-unlimited-screen-time-2024-2">screen time limit</a>. For school, we knew it wouldn't necessarily be as simple.Instead, we came to his teachers with a statement: We want to limit his access to his computer as much as possible while still supporting his learning. We asked what sorts of other systems we could implement within that framework. The details varied from class to class.<h2 id="318d14a9-c34a-4d8b-adbe-91924dac3017">We went back to paper and pencil</h2>Whenever possible, my son did his assignments with paper and pencil. For math problems or essay writing, this was fine. Yet we soon found there were assignments he simply couldn't <a target="_blank" href="https://www.businessinsider.com/students-caught-using-chatgpt-ai-assignment-teachers-debate-2024-9">do without a computer</a> — like watching a given video and writing a response.In those situations, my son got access to his computer, with monitoring. For most of the day, his computer stayed in the resource teacher's room, and he only got it when he absolutely needed it.<h2 id="071fcc00-5e80-434d-9d3b-5992a6ebccd8">Implementing this was hard, but worth it</h2>I knew reducing the reliance on tech at school wouldn't be easy, yet I was still surprised at just how difficult it was. We had a huge advantage: because of my son's IEP, we had a resource teacher we could always reach out to. Even so, <a target="_blank" href="https://www.businessinsider.com/how-screen-time-expert-limits-kids-screen-time-use-2023-2">limiting computer time</a> required an enormous amount of communication with teachers, as well as adjusting on the fly based on the type of assignments my son had and how he was managing his tech addiction at a given time.Today, my son is doing a lot better with his recovery from tech addiction. He's in ninth grade now, and he has shown he can be trusted to use computers responsibly. Because of that, we haven't had to talk with his high school teachers about <a target="_blank" href="https://www.businessinsider.com/guides/health/how-much-screen-time-is-too-much">limiting technology</a>. We may need to in the future though.As a professional, it is a bit concerning to me how hard it was to ease off technology use in school. There are an increasing number of kids who are addicted to technology, like my son. At the same time, we're making these same devices a key ingredient of learning. It's a very complex problem, and it will take us some time as a society to figure out how to solve it. In the meantime, a lot falls on parents and teachers to find the right answer for individual kids.

I'm a child psychologist, and I asked my son's teachers to limit his use of technology at school. Here's what happened.

<ul class="summary-list"><li>Hurricane Helene caused catastrophic flooding in Asheville, leaving many without necessities.</li><li>Previously, Asheville attracted Gen Z for its climate, business scene, and community.</li></ul>Sierra Isley was still unpacking boxes when the storm hit. The 24-year-old and her partner moved to <a target="_blank" class="" href="https://www.businessinsider.com/hurricane-helene-asheville-furniture-business-founders-lost-everything-2024-10">Asheville</a>, North Carolina from Philadelphia a few weeks ago and signed a lease on their new apartment. The couple was thrilled. They're recent college graduates beginning their careers and loved browsing the shops and art galleries in downtown's <a target="_blank" class="" href="https://www.citizen-times.com/story/news/local/2024/10/01/rad-businesses-in-shambles-we-definitely-underestimated-everything/75457465007/">River Arts District</a>."We wanted to go somewhere that was newer to both of us, and Asheville had what we were looking for," she told Business Insider. "We wanted to be somewhere with more nature."The morning the power went out, Isley knew something was wrong. The wind was rattling the windows, as broken power lines and tree branches began to litter the sidewalks. The flooding and sirens came next, as Category 4 <a target="_blank" class="" href="https://www.businessinsider.com/before-after-satellite-photos-hurricane-helene-destruction-florida-2024-10">Hurricane Helene</a> made its way up from the Gulf Coast.Helene's damage in western North Carolina has been catastrophic. Asheville and its surrounding small towns are almost completely flooded — despite their location near the Blue Ridge mountains, about 300 miles inland. Residents and local businesses have been left without electricity, running water, cell service, and access to essentials. As of October 3, Buncombe County reported that 72 people have died, and hundreds more are missing. And, across the Southeastern US, the death toll is <a target="_blank" class="" href="https://www.nbclosangeles.com/news/national-international/helene-death-toll-remote-areas-hit-by-storm/3527054/?os=io__&amp;ref=app">above 200</a>.<div type="image" title="A picture of debris and flooding in western North Carolina after Hurricane Helene." height="683" width="1024" msid="113961510" hostid="261" sizebytes="36620"></div>Before the storm, Asheville was experiencing a renaissance with young people, especially Gen Z. Many, like Isley, relocated to the city because of its temperate climate, thriving business scene, and cozy neighborhoods. Others who grew up in the area returned from their college towns to work and buy homes.With a long road to recovery on the horizon, these Gen Zers are wondering if they will stay.Isley has temporarily relocated to Atlanta, where her sister lives. Her Asheville apartment sits empty: kitchen utensils, clothes, and decorations are still taped in cardboard boxes. She isn't sure when it will be safe to return."I want to help as much as I can," she said. "But I feel like, right now, it's best that I don't go back immediately so that the people who are there have the water and food they need."<h2 id="519d7f98-c9db-48c5-8a84-850f6eb1bced">Gen Zers moved to Asheville for work opportunities and community</h2>Over the past decade, Gen Z has been flocking to the Asheville area. Most loved the amenities of living in a city, while still being a short drive from a camping trip or mountain hike. The local brewery and tech industries offered plenty of jobs, and young people were attracted to the affordable (<a target="_blank" class="" href="https://www.bpr.org/bpr-news/2024-07-02/asheville-will-need-14-000-new-homes-by-2050-to-keep-pace-with-population-growth-affordable-housing-draft-projects">but rising</a>) housing market.The US Census Bureau estimated in 2023 that <a target="_blank" rel="noopener noreferrer" class="c-link c-link--focus-visible" href="https://data.census.gov/table/ACSST1Y2023.S0701?q=Residential%20Mobility&amp;g=310XX00US11700">31,218</a> young people ages 18 to 24 moved to the Asheville metro area — a figure similar to a city like <a target="_blank" rel="noopener noreferrer" class="c-link c-link--focus-visible" href="https://data.census.gov/table/ACSST5Y2020.S0701?q=Residential%20Mobility%20durham&amp;g=310XX00US11700">Durham</a>, which is more than twice the size of Asheville's population.<div type="image" title="a young man standing in front of a christmas tree" height="4032" width="3024" msid="113961511" hostid="261" sizebytes="1456176"></div>Hector Hernandez-Arroyo, 24, grew up in an Asheville suburb called Weaverville. He moved a few hours away to Greensboro for college but decided to return after graduation. The city is "very inclusive, very welcoming," he said.He ran downtown while training for his half-marathon and is settling into his project manager role at a construction company. He's currently living at his parents' house but is saving for a down payment on his own home.Hernandez-Arroyo's life was hurt by Helene: He has to boil the limited water he has access to if he needs a drink or shower. And, for the past few days, he's been clearing out debris from various yards and city streets with his coworkers. Even so, he's still hoping to buy a home in Asheville someday.Iliana Villatoro's family moved to the area when she was young. But, no matter where she traveled, the now-28-year-old always wanted to go back. She and her husband bought a house, run a local fencing business, and have found a group of friends to join for dinners and weekend activities.Villatoro said it means a lot that the community is coming together to care for one other: Collecting donations and organizing help for the under-resourced <a target="_blank" class="" href="https://www.newsobserver.com/news/state/north-carolina/article293248659.html">rural areas</a> surrounding the city."We own a business in Asheville, and we just want to support the community that's given so much to us, and we're not leaving," she said. "We're going to stay for the rebuild."<div type="image" title="a young woman smiles in a sunflower field" height="3112" width="4668" msid="113961513" hostid="261" sizebytes="1266646"></div>Outside of boomerang residents like Hernandez-Arroyo and Villatoro, Asheville has welcomed a crop of movers from all over the country. Scott Pridemore of Pridemore Properties at Compass, a real-estate brokerage in North Carolina, told BI that many people go to nearby universities like Appalachian State University or University of North Carolina Asheville and never leave."Post Covid, we definitely saw a lot of people opting for life in the North Carolina Mountains," Pridemore said. "And they moved from places like California, the Northeast, Texas, or Florida."Seventh-generation western North Carolina resident and Asheville real-estate agent Marilyn Wright sees Asheville as a special city that doesn't take much to fall in love with."We're such a unique place," Wright told BI. "I have a lot of clients who just drive through one time and move here."Wright was worried that after the storm, homebuyers already in contract would get cold feet and back out. But, she said, every one of her clients who were in contract before Helene still has plans to go forward with their purchases."Right now, we sort of have a black eye, but we're still the same place," she said. "We just got to get back up."<h2 id="9b22365b-8ba1-4c11-9085-549b245308bd">Natural disasters could shape where Gen Z settles</h2>For locals, the hurricane's damage came as a shock. And, for some Gen Zers building their lives in Asheville, it's making them reevaluate the future. The impacts of natural disasters could continue shaping where people move and live. Asheville had previously been dubbed a climate "<a target="_blank" href="https://www.theassemblync.com/environment/climate-haven-wildfire-western-nc/">safe haven</a>.""If this becomes a normality, where any tropical storm that hits the Gulf makes its way up here and causes the same sort of damage," Hernandez-Arroyo said, "then maybe there's room for conversation as to where else I could go."Makenzie Rink, 23, was raised in an Asheville suburb and moved back after attending college in Raleigh, a nearly four-hour drive away. She's been working for her family's consulting business, and started a <a target="_blank" class="" href="https://www.tiktok.com/@the.realistic.runner">TikTok page</a> to document her running and nature adventures in the area. This week, she's been posting videos of the floods to raise awareness and connect residents with resources.<div type="image" title="A young woman yells excitedly into a megaphone" height="2048" width="1365" msid="113961509" hostid="261" sizebytes="395884"></div>Even prior to Helene, Rink knew she wouldn't stay in Asheville forever. She's in her early 20s, and wants to "experience a different part of the world," she said. Her next stop might be Lexington, Kentucky, but she's staying in the city right now to help collect food, water, and clean clothes for her fellow residents. Once she moves away, Rink is confident she'll come back to visit."For those that were born here, have generations of their family here, or have moved here from somewhere else, Asheville — and western North Carolina as a whole — is such a special place," she said, adding, "that's why so many people visit, right?"Isley also hasn't given up on Asheville, even though she has barely moved in. She and her partner might even settle there for the long-run."It's a different city than it was two months ago," Isley said. "The people that I met during the two or three days that I was there without cell service — having other people around to talk to made it a lot less scary. It made me feel like this deep connection to the city."Is climate change impacting where you choose to live? Have natural disasters impacted your finances or small business? If you're open to sharing your story, reach out to <a target="_blank" class="" href="mailto:allisonkelly@businessinsider.com">allisonkelly@businessinsider.com</a>.<h3 id="e7da498f-1140-4fe6-8b92-dfb933d8fd7c">Related stories</h3><a target="_blank" class="" href="https://www.businessinsider.com/hurricane-helene-hits-asheville-beer-microbreweries-north-carolina-floods-2024-9">Hurricane Helene devastates Asheville's small beer breweries: 'It's quite heartbreaking.'</a><a target="_blank" class="" href="https://www.businessinsider.com/mom-didnt-hear-from-daughter-asheville-for-days-2024-9">My daughter lives in Asheville, and I lost contact with her for 3 days as the hurricane hit. I imagined the worst.</a><a target="_blank" class="" href="https://www.businessinsider.com/hurricane-helene-north-carolina-flood-insurance-2024-10">A majority of North Carolina homeowners didn't have flood insurance. Then Helene hit.</a>

Gen Z found a home in Asheville. Hurricane Helene swept it away.

As the deadline for the submission of binding bids approaches, the bidders of <keyword id="6360090" type="General" weightage="100" keywordseo="reliance-capital" source="Orion">Reliance Capital</keyword>, including Hinduja, Torrent, Zurich, and Piramal have flagged off various legal issues to the lenders and Administrator, involving Reliance Capital and its subsidiaries. These legal issues involve a cumulative liability of Rs 22,000 crore, and they need quick resolution for the successful closure of RCAP's resolution plan. According to sources, the bidders are likely to make a condition precedent of these issues to any payment to the lenders. The two big issues flagged off by the bidders are the impending resolution of <keyword id="3649632" type="General" weightage="50" keywordseo="reliance-home-finance-ltd" source="Orion">Reliance Home Finance Ltd</keyword> (<keyword id="1590678" type="General" weightage="50" keywordseo="rhfl" source="Orion">RHFL</keyword>) and the legal battle between the Administrator and IDBI Trusteeship for the control of <keyword id="157626" type="General" weightage="50" keywordseo="reliance-general-insurance" source="Orion">Reliance General Insurance</keyword>'s shares, which is pending in the NCLT. Authum Investment and Infrastructure Ltd had been selected as the successful bidder for RHFL in June 2021, but the resolution process has not yet been completed due to various litigation involving the debenture holders. The total debt of RHFL is Rs 11,500 crore. As far as Reliance General Insurance is concerned, the Independent actuarial <keyword id="5413795" type="General" weightage="50" keywordseo="tower-watson" source="Orion">Tower Watson</keyword> has valued this business at Rs 9,500 crore. Apart from these, the two other legal cases flagged off by the bidders are Axis Bank's claim of Rs 150 crore against Reliance Capital, which the bank has lost in the NCLT, and a case involving Administrator and IndusInd Bank, involving arbitration of Nippon Asset Management shares. The total liability in this matter is Rs 650 crore. The last date for submitting binding bids is November 28. The quick resolution of these legal matters is a challenge for the Administrator for the successful closure of the RCAP resolution plan. Reliance Capital had received 14 non-binding bids for its multiple businesses. Six companies had submitted bids for the entire company, while the rest of the bidders had submitted bids for its multiple subsidiaries. Torrent, IndusInd, Oaktree, Cosmea Financial, Authum Investment, and B Right Real Estate have submitted bids in the range of Rs 4,000 crore to Rs 4,500 crore for Reliance Capital's entire assets. For Reliance General Insurance business, Piramal Finance has bid Rs 3,600 crore, while <keyword id="1657992" type="General" weightage="50" keywordseo="zurich-insurance" source="Orion">Zurich Insurance</keyword>'s bid is Rs 3,700 crore. The third bidder, Advent, has bid Rs 7,000 crore for Reliance General Insurance. Jindal Steel and Power and <keyword id="8564251" type="General" weightage="50" keywordseo="uvarc" source="Orion">UVARC</keyword> have submitted bids for Reliance Capital's ARC business. For other assorted assets of Reliance Capital, 3 bidders -- Choice Equity, Global Fincap, and <keyword id="15413642" type="General" weightage="50" keywordseo="grand-bhawan" source="Orion">Grand Bhawan</keyword> -- have submitted the bids. RCAP's life insurance business, <keyword id="15259421" type="General" weightage="50" keywordseo="rnlic" source="Orion">RNLIC</keyword>, had not received any bid, but later on Aditya Birla Capital and Nippon Life Insurance, which is already holding 49 per cent equity in RNLIC, have evinced interest in acquiring RCAP's 51 per cent stake in this business. At the beginning of the resolution process of Reliance Capital over 54 companies had submitted Expression of Interest (EOI) for its various assets, out of which only 14 are now in the fray. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/electric-mobility-platform-moeving-raises-2-5-million-from-jsw-ventures/articleshow/95252790.cms">Electric mobility platform MoEving raises $2.5 million from JSW Ventures</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/tumblr-to-allow-nudity-but-not-sexually-explicit-images/articleshow/95253755.cms">Tumblr to allow nudity but not sexually explicit images</a>

Reliance Capital bidders flag off multiple legal issues involving Rs 20,000 crore liability

<ul class="summary-list"><li>Two hurricanes hit Florida in recent weeks, exacerbating a home insurance crisis in the state.</li><li>Insurance experts said the back-to-back hurricanes could signal rising insurance rates nationwide.</li></ul>Two back-to-back hurricanes in Florida in recent weeks will likely raise <a target="_blank" href="https://www.businessinsider.com/florida-real-estate-worth-it-home-prices-insurance-hurricane-helene-2024-10">home insurance rates</a> even higher in a state that is already grappling with prices nearly <a target="_blank" href="https://www.cnn.com/2023/06/01/business/florida-homeowner-insurance-rates/index.html">four times</a> the national average, insurance experts told Business Insider."Florida represents an <a target="_blank" href="https://www.businessinsider.com/hurricane-milton-category-four-storm-real-estate-market-insurance-damages-2024-10">outsize amount of risk</a> compared to other areas of the world," Kyle Ulrich, president and CEO of the Florida Association of Insurance Agents, told BI. "And we pay commensurately for it."But it's not just Florida.The compounding financial crises of <a target="_blank" href="https://www.businessinsider.com/hurricane-helene-milton-tampa-florida-desantis-clean-disaster-dangerous-2024-10">Hurricane Helene</a> and <a target="_blank" href="https://www.businessinsider.com/hurricane-milton-landfall-florida-housing-market-insurance-fema-2024-10">Hurricane Milton</a> could also point to looming hikes in insurance rates nationwide, the home insurance experts said. They pointed to the recent Florida storms as examples of the increasingly severe and frequent climate catastrophes wreaking havoc on the global insurance market.<h2 id="25940b76-9ef6-4385-94a3-eb8903a79169">Florida's battered home insurance market</h2>Home insurance rates are <a target="_blank" href="https://www.businessinsider.com/why-its-expensive-to-own-a-home-mortgage-insurance-interest2024-4">up across the board</a> in recent years due to a combination of natural disasters and inflation, according to a <a target="_blank" class="" href="https://insurify.com/homeowners-insurance/report/home-insurance-price-projections/">recent report</a> from insurance comparison shopping site Insurify. Between 2021 and 2023, overall home insurance costs rose nearly 20%, the report found.And, for mortgaged single-family residences specifically, the average monthly property insurance payment has increased 52% nationally since 2019, according to a 2024 <a target="_blank" class="" href="https://static.icemortgagetechnology.com/pdf/ICE_Mortgage-Monitor-Report-October-2024.pdf">mortgage report</a> from financial services company Intercontinental Exchange.That number is even higher in regions more at risk of environmental disasters. California has seen <a target="_blank" href="https://www.businessinsider.com/homeowners-california-florida-insurance-issues-natural-disasters-wildfires-hurricanes-2023-10">several top home insurance agencies</a> pull out or limit their business in the state amid a growing risk of destructive wildfires, while tornado-prone states such as Illinois and Arkansas have seen an uptick in premiums as cyclones become more frequent, <a target="_blank" class="" href="https://www.cbsnews.com/news/storms-homeowners-insurance-oklahoma-texas-tornado/">according to CBS News</a>."Certainly, areas that are chronically hit by storms, you're seeing either rates increase or insurers pull out completely," Jeffrey Schlegelmilch, a research scholar and director at Columbia Climate School's National Center for Disaster Preparedness, told Business Insider.But nowhere in the country is the <a target="_blank" href="https://www.businessinsider.com/florida-home-insurance-prices-premium-effect-from-hurricanes-2024-9">home insurance crisis</a> more acute than in Florida. The state has, in recent years, been battered by a wave of costly <a target="_blank" href="https://www.businessinsider.com/hurricane-ian-photos-videos-destruction-in-florida-2022-9">hurricanes</a>, seen an <a target="_blank" class="" href="https://www.businessinsider.com/why-are-people-moving-florida-home-prices-cost-of-living-2023-12#:~:text=Florida's%20population%20jumped%20by%201.9,growing%20state%20in%20the%20country.">influx of new residents</a>, and dealt with <a target="_blank" href="https://www.renaissanceins.com/blog/florida-personal-lines-crisis/">fraud</a> over the state's assignment-of-benefits loophole, said Oscar Miniet, regional executive vice president, Southeast for Renaissance, a nationwide network of independent insurance agencies.Miniet said the number of insurers willing to write policies in parts of the state most exposed to hurricanes is shrinking, primarily because the potential risk outweighs the possible financial reward. Meanwhile, those that have stuck around, he added, have implemented extremely tight underwriting practices, which leads to homeowners paying far more in premiums, especially in at-risk areas.Florida cities like Deltona, Jacksonville, and Cape Coral saw the average property insurance payment for mortgaged single-family residences skyrocket 90%, 86%, and 85%, respectively, since 2019, according to an analysis by financial services company Intercontinental Exchange.Tampa — which sustained severe <a target="_blank" href="https://www.businessinsider.com/hurricane-milton-flooding-damage-photos-2024-10#winds-of-up-to-120-mph-ripped-through-the-state-shredding-the-roof-of-tropicana-field-home-of-the-tampa-bay-rays-baseball-team-8">wind damage when Milton</a> landed near Sarasota on Wednesday evening and a <a target="_blank" class="" href="https://www.businessinsider.com/hurricane-helene-milton-tampa-florida-desantis-clean-disaster-dangerous-2024-10">deadly storm surge when Helene</a> touched down last month — has seen insurance payments go up 71% since 2019, Intercontinental Exchange found.And Helene and Milton are likely to make matters even worse for Florida homeowners, the insurance experts said.The majority of Helene's damage in the state was flooding-related, which isn't included in most home insurance policies. But Helene also caused wind damage and <a target="_blank" class="" href="https://www.businessinsider.com/florida-homeowner-milton-tearing-through-neighborhood-cant-sleep-2024-10">Hurricane Milton's gusts</a> were fierce enough to tear the roof off Tampa's Tropicana Field and spawn several tornadoes that tore through Central Florida. Unlike flooding, wind damage is typically covered by home insurance."That is clearly going to have an impact on premiums in the state, said Shahid Hamid, a finance professor at Florida International University and director of the school's Hurricane Research Center's Laboratory for Insurance, Financial and Economic Research. "They're going to go up quite significantly."<h2 id="66cc80ec-e36b-4d1c-9df6-0fbbad2a8fb5">Increased home insurance prices nationwide</h2>While Floridians will bear the brunt of Helene and Milton's insurance-related pains, homeowners across the country could also soon feel the pain in their pocketbook thanks to the recent storms and other climate disasters like them.Milton and Helene are one-time events, but storms like them can end up <a target="_blank" href="https://www.businessinsider.com/soaring-home-car-insurance-rates-hurting-americans-finances-us-economy-2023-11">impacting the larger insurance industry</a>, said Jeremy Porter, the head of climate implications research at climate risk evaluation company First Street."When insurance costs get increased, they get increased not only in the places where we're seeing the exposure but they get increased across the industry," he told Business Insider.Large insurance companies such as Allstate or State Farm typically take major losses after big storms and, as a result, need to find ways to make up for those loss payouts, Porter said."So you're going to end up seeing people in Kentucky and Idaho and other places that just aren't anywhere near this event that may see a spike, an increase in their insurance costs, just due to the company's overhead and the additional payouts that they're having to make given climate risk in other areas," Porter said.But the primary reason homeowners around the country could see their rates rise post-hurricane season is thanks to the global reinsurance market, three insurance experts said.The reinsurance market, with hubs in <a target="_blank" class="" href="https://www.businessinsider.com/lloyds-london-firms-face-billions-claims-baltimore-bridge-collapse-2024-3">London</a> and <a target="_blank" class="" href="https://www.abir.bm/why-bermuda/">Bermuda</a>, is where insurance companies can offload some of their risk to a reinsurance company — a kind of insurance company for insurance companies.An uptick in reinsurance rates in recent years has been a driving force behind climbing insurance rates nationwide, said Kyle Ulrich, president and CEO of the Florida Association of Insurance Agents.Reinsurance rates are determined by worldwide losses, and when prices increase, insurance companies pass financial responsibility to customers who end up paying higher premiums, Hamid said.Those increases are, in part, because of climate change. The global reinsurance market has to assess risk against catastrophic events around the globe, from hurricanes in Florida to tsunamis in Japan, Ulrich said.But as catastrophic climate events become more common worldwide, homeowners everywhere are bearing the risk."There used to be five storms a year. Now there are 30 storms a year. There used to be one strong one and nine weak ones. Now there are nine strong ones and one weak one," said Oscar Seikaly, CEO of NSI Insurance Group, one of the largest privately owned insurance firms in Florida. "So the <a target="_blank" href="https://www.businessinsider.com/hurricane-milton-helene-economy-gdp-damage-cost-rebuilding-florida-climate-2024-10">frequency and severity</a> have been the factors that set the reinsurance industry off guard and put them in panic mode a bit."With Hurricanes Helen and Milton shaping up to be massive loss events, reinsurers could be on the hook for paying out billions of dollars of claims, which would, in turn, shrink the reinsurance industry's capacity to supply capital when it comes time to renew contracts next year, thus driving up premiums in the primary market, Yanjun (Penny) Liao, an economist and fellow at nonprofit research institute Resources for the Future, said."Because primary insurers rely on reinsurance everywhere, this could happen even in places that are not hit," Liao added.

Back-to-back Florida hurricanes signal trouble for home insurance prices nationwide

<ul class="summary-list"><li>"Chipotle Boys" are getting their own special.</li><li>"You know who you are," Chipotle said in its promotion of the <a target="_blank" href="https://www.businessinsider.com/chipotle-burrito-bowl-hacks-half-scoops-double-meat-hyphen-robot-2023-9">double-chicken and white rice bowl</a>.</li></ul>Move over <a target="_blank" href="https://www.menshealth.com/entertainment/a61102350/hot-rodent-men-summer-trend/">rat boys</a>; it's a <a target="_blank" href="https://www.businessinsider.com/what-is-chipotle-burrito-season-hiring-jobs-food-eating-out-2024-1">Chipotle Boy summer</a>.The army of young urban male office workers who just might constitute the chain's <a target="_blank" href="https://x.com/McHenryJD/status/1795111164726190570">most reliable customer cohort</a> is now being recognized with a meal special of their own.Now available for a limited time, the Chipotle Boy bowl is available in the app, featuring the necessary two scoops of chicken (so you don't have to ask), white rice, black beans, mild salsa, corn, sour cream, cheese, guacamole, and lettuce.<div type="image" title="The Chipotle Boy bowl" height="821" width="1095" msid="111093959" hostid="261" sizebytes="70642"></div>"You know who you are," the item listing says, beneath a collage of the bowl, a copy-pasted stack of white finance bros, and a spreadsheet to really drive the meme home. (It is unclear from the image whether the <a target="_blank" href="https://www.tiktok.com/@girl_on_couch/video/7363742421588512043?lang=en">guys are 6'5" or have blue eyes</a>.)In a <a target="_blank" href="https://x.com/ChipotleTweets/status/1802734193644105855">post</a> on X, the brand posted a "Chipotle Boy Starter Pack," which included aviators, AirPods, a MacBook, a glovebox full of Chipotle napkins, and the requisite puffy vest.Several regulars previously <a target="_blank" href="https://www.bustle.com/life/what-are-chipotle-boys">told</a> Bustle that Chipotle has been able to "tick all the boxes" of <a target="_blank" href="https://www.businessinsider.com/chipotle-quick-service-fewer-people-order-ahead-speed-fast-restaurant-2024-4">convenience, speed, and nutrition</a>."After all, who needs variety when you have the intoxicating promise of optimization?" Bustle wrote.Attempting to "Make it my own" on the Chipotle Boy Bowl brings up a warning that changes could make the meal ineligible for the promotional price.Bustle also observed that several customers were picking up orders from restaurants near their offices — in many cases to eat at their desks.And a trainer told the outlet that "gym boys tend to be Chipotle Boys," since the chain's dietary information makes it easy to track macronutrients.Earlier this year, some diners complained that they were receiving <a target="_blank" href="https://www.businessinsider.com/chipotle-customers-film-workers-over-small-portion-sizes-2024-5">skimpier scoops than they were expecting</a>, prompting the company to clarify that there had been no official change in portion sizing.

You Searched For "reliance home finance limited" and got 10 results

Reliance Home Finance, Reliance Power shares hit lower circuit limits

PTI

Market Morning: JSW Steel, UltraTech Cement in action

Ira Alok Puranik

Anil Ambani reviewing SEBI order, to take appropriate steps: Statement

PTI

JioBharat captures 50% market share in sub-Rs 1,000 segment: Reliance annual report

ANI

Mcap of top-10 most valued firms plunge Rs 1.93 lakh cr in last week's trade

PTI

I'm a child psychologist, and I asked my son's teachers to limit his use of technology at school. Here's what happened.

Kelly Burch

Gen Z found a home in Asheville. Hurricane Helene swept it away.

Allie Kelly,Jordan Pandy

Reliance Capital bidders flag off multiple legal issues involving Rs 20,000 crore liability

ANI

Back-to-back Florida hurricanes signal trouble for home insurance prices nationwide

Grace Eliza Goodwin,Erin Snod…

Chipotle is selling 'Chipotle Boy' bowls aimed at vest-wearing finance bros

Dominick Reuter

Popular Keywords

Buying Guides