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Looking for the ideal car insurance plan? Here is a list of crucial factors to take into account.

It's critical to be aware of the most recent developments in the field of auto insurance before making the big purchase of your dream car. A few of these features can lower your insurance costs while improving coverage.

For your car's protection, choosing the correct auto insurance policy is crucial. Since the insurance market is dynamic and always changing, it's crucial to stay informed about the most recent developments and improvements before making a purchase. It's critical to stay current in order to take advantage of new features that could lower your insurance cost and improve coverage. To ensure you choose wisely and get the most for your money, there are a number of new factors to consider when choosing a car insurance coverage.

Using telematics, you may insure your car.

General insurance providers may now offer telematics-based auto insurance coverages including "Pay as You Drive" and "Pay How You Drive" according to approval from India's Insurance Regulatory and Development Authority (IRDAI). These cutting-edge choices fall under the category of own damage auto insurance and make use of cutting-edge technology to determine your rate based on your driving style.

Pay As You Drive: In the past, insurance rates were the same for automobiles with high and low mileage. However, customers can now pay a premium based on their actual consumption thanks to "pay as you drive" regulations. The usage-based insurance model encourages equity and rewards safe driving practices. Longer driving distances will result in higher premiums, whereas shorter driving distances will result in reduced premiums.

Pay How You Drive: This feature considers your driving habits and mannerisms. Insurance companies examine variables like speed, acceleration, braking, and observance of traffic laws. In comparison to safer drivers with spotless records, risky drivers with a history of fines and accidents will be assessed a higher premium. This tailored strategy offers rewards for preserving a clean driving record and encourages people to adopt safe driving habits.

In conclusion, selecting an appropriate car insurance coverage necessitates keeping up with changes to insurance policies. With the advent of telematics-based motor insurance policies like "Pay as You Drive" and "Pay How You Drive," usage-based rates that support fairness and promote safe driving behaviors are now available. Furthermore, owners of several vehicles have a practical choice in the floater policy. You may select a car insurance policy that offers comprehensive coverage, meets your needs, and gives you peace of mind while driving by taking into account these new factors, carefully comparing policies, and placing an emphasis on safe driving habits.

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SIP inflows are more than Rs 15,000 crore and lessen the stress from redemption

According to data from the Association of Mutual Funds in India (Amfi), mutual funds saw net inflows of Rs 7,600 crore into active equities schemes in July despite redemptions rising to a 30-month high of Rs 30,400 crore due to profit booking.

Net equity inflows were 13% lower than they had been the previous month.

Strong flows from retail investors via the systematic investment plan (SIP) route helped to support the inflows.

SIP inflows, which have been steadily increasing since early 2021, have for the first time surpassed Rs 15,000 crore.

"Across all scheme categories, the increase in retail investors' interest in mutual funds has resulted in excellent inflows.

SIP inflows surpass Rs 15,000 crore and lessen the stress from redemption

SIPs have been the industry's top performer this month, according to NS Venkatesh, CEO of the trade group Amfi. The largest monthly SIP registration ever of 3.3 million preceded the record SIP inflows, bringing the total number of active SIP accounts to 68 million.

Even though certain fund houses restricted lump sum contributions in their small-cap schemes, small-cap funds continued to be the top draw for investors, bringing in Rs 4,170 crore.

The Nifty small-cap 100 had increased by about 10% the previous month.

For the third consecutive month, net withdrawals were recorded from the two largest active equity fund categories, large-cap and flexi-cap.

Since May, monthly redemptions have been over Rs 27,000 crore, which is about 50% greater than the outflows recorded in the preceding three months. This indicates that investors have been booking profits for the past three months.

To profit from the tremendous increase in the share market that has been going on since March, investors have been taking money out of equities schemes.

The benchmark Nifty50 index has increased by approximately 14% over the course of the last five months, commencing in March.

The fact that the equity market is at record highs has prompted investors to book profits, according to Manish Mehta, national head of sales, marketing, and digital business at Kotak Mahindra AMC.

Lower MF deployment into the stock market in this fiscal year is a result of the sluggish net inflows into equity schemes.

According to data from the Securities and Exchange Board of India (Sebi), they have only invested Rs 10,700 crore in the first four months, compared to almost Rs 70,000 crore in the four months before that.

EPFO is selecting an actuary to provide consulting for its insurance and pension plans.

The Employees Provident Fund Organization (EPFO) is currently in the process of selecting an actuarial firm to serve as its consultant on matters pertaining to insurance and staff pension and gratuity.

The Employee Pension Fund (EPF) staff pension cum gratuity scheme, depart encashment, and any other scheme for EPFO employees that might have been applicable or introduced during the tenure were among the tasks that the statutory body in the Ministry of Labour & Employment published a request for proposals (RFP) to assign an actuary or an actuarial firm to carry out.

The deadline for interested actuarial firms to respond to the proposal is August 17. The request for responses was made public on Friday.

To study the Employee Pension Scheme (EPS)-1995 and recommend ways to improve benefits while maintaining the sustainability of the program, particularly in light of the impact of the Supreme Court's decision on higher pensions under the EPS from November 4, EPFO also issued an RFP earlier last year.

The 2014 modification to the EPS, which sets a limit on an employee's basic income at Rs. 15,000 per month for the purpose of calculating the pension component derived from it, was affirmed by the Supreme Court. However, it nullified the other amendment, which included a 1.16 percent additional employee contribution.

Indian Rupee and the U.S. Dollar close higher

On Monday, the Indian rupee strengthened against the US dollar as a result of strong domestic stocks and a falling dollar.

A less-than-expected increase in jobs increased speculation that the Federal Reserve could maintain interest rates on hold for some time, which led to a decline in the value of the foreign currency.

On Monday, the rupee gained 9 paise to settle at Rs 82.75 against the dollar. For Friday, it had been closing at Rs 82.8.

Government licensing limits the import of computers, India

With immediate effect, imports of laptops, personal computers (PCs), tablets, and servers would only be permitted with a prior permission, the Center shockingly announced this week, shocking both consumers and business.

The effective date has been delayed until November 1 due to opposition from individuals who will be affected. Officials have offered a number of justifications for why imports of computers are not permitted at will.

One is national security, as hardware from "untrusted" suppliers may have "built-in security loopholes" that put confidential personal and business information at peril. There is no simple fix if this is referring to imports from China. Over half of the $8 billion in annual computer imports come from Chinese manufacturers.

The licensing requirement is required to persuade global computing behemoths to Make-in-India, according to a second and more tenable reason. However, because the full ecosystem needed to produce high-end computing products cannot quickly emerge, firms that are interested in entering this market may use workarounds.

While it is admirable that the government is making this change to lessen its reliance on imports for computing hardware, it may not have the desired effect. Similar licensing requirements for color television sets were announced by the Center in July 2020, along with exemptions for imported parts.

Since then, India's reliance on imported finished color television sets has decreased from 36% to ZERO. The majority of international TV brands have partnerships with regional contract manufacturers. However, they are mostly involved in assembly, and expensive components like open cells are still imported.

Computers may follow a similar pattern, with multinational companies using contract manufacturers to put semi-knocked-down systems together in India.

Since February 2021, the Center has offered a PLI (Production Linked Incentive) scheme with few takers for domestic manufacturing of computing products. In May 2023, it was reintroduced with a higher budget of $17,000 crore, more incentives for component localization, and increased manufacturing flexibility with regard to investment criteria.

Large multinational corporations like Apple, however, have so far refrained from biting the hook in favor of manufacturing in nations like Vietnam that have free trade agreements with India.

FTAs that permit duty-free imports of IT gear from ASEAN are a significant barrier to the Center's Make in India aspirations. But dealing with this might need for more subtle answers than returning to licensing, which just provides chances for rent-seeking.

Contrary to color televisions, laptops, PCs, tablets, and servers are widely used in public services, research, and education. India only has 15 PCs per 1,000 people, the government noted while unveiling the PLI in May 2023. To increase government, education access, and productivity, this was necessary.

It stated that poor supply chains and infrastructure, high financing costs, a lack of skilled labor, limited access to power, etc., hurt Indian electronics firms. The emphasis should be on closing these gaps and, if necessary, redesigning PLIs.

The pagalworld is a free open site that assists you with getting finance info online from the World. You will get information related to Business, Share Price, Insurance, Finance, Loan, Trading, Investing and many more.

The Odisha government approves an additional 4.13 lakh recipients of Madhu Babu pension.

Odisha Chief Minister Naveen Patnaik has sanctioned Madhu Babu pension for additional 4.13 lakh applicants at one go.

Considering the grievances received during the visit of officials of Chief Minister’s Office (CMO) to districts across the state, and the feedback received from 'Mo Sarkar', the Chief Minister has included more people under the social security scheme—Madhu Babu Pension Yojana (MBPY).

With this, the target of Madhu Babu Pension Yojana has been enhanced to 32.75 lakh. Earlier 28.61 lakh beneficiaries were getting benefits under the scheme.

On August 15, 2023, or Janaseva Diwas, all newly approved recipients will receive their first pension payment at the ward or gram panchayat offices in front of elected officials, according to official sources.

According to the source, all collectors have been advised to make sure that beneficiaries get paid their pensions without delay while they are in camp mode.

28.61 lakh beneficiaries of MBPY receive social security pensions from the state government in the amounts of Rs. 500, Rs. 700, and Rs. 900 each month.

Beneficiaries supported by this program include elderly individuals, widows, disabled people, single mothers, cured leprosy patients, AIDS patients, divorcees and poor people, transgender people, widows, and orphan children of Covid-affected families, among other vulnerable people.

Beneficiaries of the MBPY receive a monthly pension of Rs. 500 for those aged 0 to 79 while those 80 years and beyond receive a monthly pension of Rs. 700.

Likewise, recipients with a disability of 40 to 59 percent receive a monthly pension of Rs 500, while those with a disability of 60 percent or more receive a monthly pension of Rs 700.

Additionally, recipients of this program who are 80 years of age or older and have a disability of at least 60 percent receive Rs 900 each month.

Post Office Scheme, Make a monthly deposit of Rs. 1,000 to receive fantastic rewards!

Investment in the Post Office is regarded as the safest type of investment. Because of this, regular people favor investing here. The post office also offers a number of beneficial customer programs that assist investors in becoming wealthy in the future. Future-focused investors make investments in this area.

Post Office Scheme - With inflation on the rise, investing money for the future is crucial. Everyone aspires to have stable finances in the future.

In the meantime, if you'd like to make a lot of money in the future as well, we'll be sharing a terrific idea with you today. Whereas by saving money, you can eventually raise good funds.

You can quickly earn a large sum of money by investing here. Recurring Deposit Scheme is the name of the Post Office's program, and it is thought to be the most well-liked program. People are benefiting greatly from this program. You will receive significant interest returns if you invest here as well.

A nice savings plan is the Post Office's RD program, however there are requirements for participation. Because you continue to receive respectable interest on an annual basis in this, people are attracted to this strategy. The Post Office RD Scheme has a defined 5- to 10-year term.

Choose the time period of your choosing. After investing, you will receive a nice lump payment here. You must put Rs 1,000 into this plan each month. You can invest up to Rs 60,000 over the course of five years and get respectable returns.

In five years, this investment will return Rs. 1.20 lakh to you. Therefore, when the ten-year period for this program is passed, around 1.69 lakh.

Ways to Make Money

Many straightforward ideas can mean the difference between letting your money grow and staying broke.

Here is a list of the top ten things that, if carefully followed, can have a profound impact on a person's life.

Simple but incredibly challenging for most individuals to adhere to regularly over many years and decades.

Don't let your present wishes and wants deplete the resources you need to accumulate for a later, more dependent you.

Continually invest in assets that appreciate in value.
Work in a profession that you love and are enthusiastic about.
Look for a career and a mission instead than a job.
When you are young, invest as much money as you can to give yourself at least 40 years to gain from compound interest.
primarily by an investor, and secondarily by a consumer.
Develop the abilities necessary to generate a respectable wage.
Maintain a healthy lifestyle so you can produce value and make money.
Avoid spending money on undesirable habits.
Only associate with those who provide worth to your life.
Make little financial blunders but stay away from ones that will bankrupt you.

Create These Simple Habits for Building Wealth.

These steps can help you develop sound financial practices and increase your own wealth.

During bull markets, buy stocks.
When markets are down, sell your equities and move to cash.
Purchase a home in a neighborhood where possibilities, businesses, and people are expanding.
Obtain assets with a cash flow.
Only purchase bonds at high interest rates (+6%).
Choose a skill that can be used to launch a career in a sector that is expanding if you desire a job.
You will earn more cash the more value you add to your employer, clients, or business.
The main source of income creation in the twenty-first century is properly utilized ideas.
The more money you have left over for investments, the fewer costs you have.
Selling your time won't make you wealthy; instead, leverage in assets and capital development through compounding are what produce riches.

Your time may be turned into financial assets, and those assets can expand over time through compounding returns, which is how wealth is formed.