SBI launches new feature in Yono, Yono Lite app. Benefits other details here

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To safeguard the interest of its customers, the country’s largest lender State Bank of India (SBI) has launched a new enhanced security feature – ‘SIM Binding’ in Yono Yono Lite. Rana Ashutosh Kumar Singh, DMD (Strategy) & Chief Digital Officer, SBI said, “We are glad to launch the SIM Binding feature in two of most popular platforms of SBI i.e. YONO YONO Lite. With this new feature, our aim is to provide enhanced security to all our customers help them with a convenient safe online banking experience. We at SBI always strive to encourage customers to perform digital banking services from the comfort of their homes avail the one-stop banking lifestyle solutions of YONO YONO Lite.”

What will change for SBI Yono Yono Lite users with ‘SIM Binding’ feature

The new version of these platforms will protect customers from various digital frauds. With the SIM Binding feature, YONO YONO Lite will work only on those devices which have SIM of mobile numbers registered with the Bank.

How SBI Yono Yono Lite users can access ‘SIM Binding’ feature

  • To access the new version of Yono YONO Lite with enhanced security features, users will have to update their mobile app complete the one-time registration process on these Apps.
  • The registration process verifies the SIM of the registered mobile number (RMN) with the bank in order to complete the registration.
  • Customers will have to ensure that they register themselves with the device which has the SIM of the registered contact number.

YONO YONO Lite will work with the basic rule of One Mobile Device – One User – One RMN. However, the customer can use both YONO YONO Lite on the same mobile device using the SIM of RMN with the bank. In case the customer is using a mobile number, which is not registered with the bank, they will be unable to complete the registration process on YONO YONO Lite.

The new SIM binding feature will also allow two different users to access YONO YONO Lite separately in a dual SIM handset, provided that SIMs of the RMN of both the users are inserted in the device.

The integrated digital lifestyle platform by SBI – YONO has over 37 million registered users, which witnesses 9 million logins per day. Accelerating the digital agenda, 2 million accounts have been opened through YONO in the quarter ended March 2021. In terms of digital lending, the bank disbursed personal loans of more than Rs. 5300 crore through the YONO mobile app in the same quarter.

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Steel Strips Wheels freezes at 10% upper circuit on record turnover in July

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Shares of Steel Strips Wheels Limited (SSWL) were locked in the 10 per cent upper circuit bat Rs 1,508.10 on the BSE on Monday after the company announced it has achieved highest-ever net turnover of Rs 306.12 crore in July 2021. The auto parts equipment manufacturing company has recorded 177 per cent year-on-year (YoY) growth over July 2020.


The company achieved gross turnover of Rs 372.22 crore in July 2021 as against Rs 132.75 crore in July 2020, thereby recording a growth of 180.39 per cent YoY, SSWL said in a release.





The export segment volume rose by 164 per cent YoY crossed 1,000 million-mark for the first time ever in July 2021. The company expects the growth to continue going ahead in July-September quarter of the financial year 2021-22 (Q2FY22).


“The passenger vehicle (PV) volumes saw a growth with continued demand. Going into festival season, we hope that the upward growth for PV segment to continue in Q2. As regards to the tractor segment, the segment continued to report a positive growth in the month, as SSWL registered its highest-ever sales in the segment in July 2021 hopes that this will continue with upward trend for Q2. The commercial vehicle (CV) segment reported 188 per cent YoY growth during the month the segment is expected to witness momentum going ahead in coming months,” it said.


The stock of SSWL was trading at its record high level on the bourses. In the past one month, it has zoomed 61 per cent as compared to a 0.88 per cent rise in the S&P BSE Sensex. Till 01:36 pm a combined 152,207 equity shares had changed hands there were pending buy orders for around 27,000 shares on the NSE BSE.

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People living in dense UK cities are more likely to feel lonely

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The skyline of Edinburgh, UK

Andrew Merry/Getty Images

People who live in dense urban areas, particularly those with closely packed apartments, are more likely to experience loneliness isolation, a large-scale study of UK cities has found.

Chris Webster at the University of Hong Kong his colleagues analysed health data from nearly 406,000 people in 22 UK cities held by the UK Biobank compared it with detailed data of their environment, such as their proximity to busy roads green spaces.

The team found that people’s self-reported loneliness increased by 2.8 per cent for every additional 1000 housing units within 1 kilometre of their home, while their self-reported social isolation increased by 11.4 per cent. The researchers controlled for factors including age, health socioeconomic status, finding that the effects were more pronounced in men retirees.

Compared with their counterparts living in the lowest residential densities, men in the highest densities were 23.5 per cent more likely to report loneliness, while retirees in areas with the densest housing were 17.4 per cent more likely to do so.

“Our study suggests that loneliness is not only still prevalent in 21st-century cities, but is so endemic that we can detect a regular pattern measure it,” says Webster.

The team also looked at mental health impacts by housing type found that people living near a higher density of detached housing were less likely to experience loneliness social isolation. A higher density of apartments, on the other hand, was linked to an increase in these factors, which the researchers suggest could be due to a lack of privacy control, producing social stress.

They say the findings demonstrate the need for urban design density planning to be factored into strategies to tackle loneliness associated chronic conditions.

“Housing is the basic building block of a city, the way they are packed may be one of the keys to creating healthy resilient cities of the future,” says team member Chinmoy Sarkar, also at the University of Hong Kong.

Journal reference: Landscape Urban Planning, DOI: 10.1016/j.landurbplan.2021.104194

Need a listening ear?  UK Samaritans: 116 123; US National Suicide Prevention Lifeline: 1 800 273 8255; hotlines in other countries.

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NPS subscribers can claim this income tax benefit even after opting new regime

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Income tax calculator: In the Union Budget 2020, Finance Minister Nirmala Sitharaman introduced a new income tax regime, giving taxpayers an option to choose a tax slab that had lower rates to pay. However, after opting this new income tax slab, the taxpayer had to lose all income tax benefits like Section 80C, Section 80 CCD (1) many more deductions exemptions that are around 70 in numbers. But, for those employees, whose employer is contributing to its National Pension System or NPS account, income tax deduction under Section 80 CCD (2) is available even when they have chosen new income tax regime.

Speaking on income tax benefit available for NPS scheme beneficiaries in new income tax regime; Pankaj Mathpal, Founder & CEO at Optima Money Managers said, “Income tax deduction available for NPS subscribers under Section 80 CCD (2) of the income tax act, is on the employer’s contribution to one’s NPS account. Since, it is not a part of one’s annual income, NPS scheme beneficiaries can claim income tax deduction on its employer’s contribution to its NPS account, even after opting for the new income tax regime.” He said that all those employees whose employer has implemented NPS scheme can claim this deduction even after choosing the new income tax regime.

On how much income tax deduction NPS subscriber can claim after choosing new income tax regime; Amit Gupta, Managing Director at SAG Infotech said, “The new income tax regime allows a deduction under section 80 CCD (2) of the Income-tax Act, 1961, which is available if an employer contributes to an employee’s NPS account. The maximum deduction an employee can claim is 10 per cent of annual salary, where annual salary means basic plus dearness allowance (DA).”

The Managing Director of SEBI registered income tax solution provider company went on to add that in new income tax regime, a taxpayer is allowed to claim income tax exemption on the conveyance allowance received to meet the conveyance expenditure incurred as part of the employment as well.

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PNB revises fixed deposit (FD) rates. Check out the latest rates here

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Punjab National Bank (PNB) has revised interest rates on fixed deposits. PNB is offering an interest rate ranging between 2.9% 5.25% on fixed deposits maturing in the range of 7 days to 10 years. PNB is offering an interest rate of 2.9% on 7-45 day fixed deposits it goes up 4.4% on less than 1 year FDs. On term deposits maturing in one year to up to 2 years, PNB gives 5.10% interest. On deposits maturing above 2 years up to 3 years, the bank gives5.10%PNB is offering 5.25 % interest on deposits maturing above 5 years to 10 years. These rates are with effect from 1 August 2021.

Punjab National Bank latest FD interest rates (below 2 crores) for the general public

7 to 14 days – 2.9%

15 to 29 days – 2,9%

30 to 45 days – 2.9%

46 to 90 days – 3.25%

91 to 179 days – 3.80%

180 days to 270 days – 4.4%

271 days to less than 1 year – 4.4%

1 year – 5%

Above 1 year & up to 2 years- 5%

Above 2 years & up to 3 years- 5.10%

Above 3 years & up to 5 years – 5.25%

Above 5 years & up to 10 years- 5.25%

Punjab National Bank latest FD interest rates (below 2 crores) for the senior citizens

Senior citizens will continue to get an additional rate of interest of 0.5 per cent on their deposits. For FDs maturing in 7 days to 10 years, they will get an interest rate ranging between 3.4% 5.75%

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