Indians | Common News Update

Jan32021 by adminNo Comments

Over 50% of Indians now recharge phones online

Finance

NEW DELHI: The share of digital mobile phone recharges in India crossed 50% for the first time in 2020 as the pandemic led people to minimise stepping out to stores and instead opt for online transactions, a trend that experts said may continue. At Reliance Jio, the share of online recharges increased to 50% in the December quarter from 35% in the March quarter, after having touched 60% during the lockdown in the June-ended quarter, according to a senior company executive. At Bharti Airtel, half of its recharge revenue for all of 2020 came from the digital channel for the first time, a company official said. Fintech companies including Google Pay and PhonePe, payment gateway CC Avenue and startups such as Niyo and Spice Money said there was a 55-75% surge in mobile recharge transactions. “...

Nov92020 by adminNo Comments

Half of urban Indians have no retirement plan: PGIM India Mutual Fund survey

Finance

City dwellers today are saving and investing less, allocating more than half their income to current expenses, finds a survey commissioned by PGIM India Mutual Fund. Do Indians have a retirement plan in place? No: 51% Yes: 49% Worry about the future, however, is increasing People are worried about the cost of living, healthcare issues and the lack of family support in future. Retirement comes way down on the list of financial priorities Children’s needs and security of the family take precedence over all else. PRIORITIES 1. Providing for child’s future, education and marriage 2. Financial security of children 3. Financial security of spouse 4. Providing for medical emergencies 5. Being physically and mentally fit 6. Leading a life without stress or burden 7. Improving standard of living 8...

Oct272020 by adminNo Comments

Indians start buying physical gold before Diwali despite high prices

Finance

Despite high prices, Indian consumers have been undeterred as they bought gold this Dussehra, setting the tone for buoyed demand later during Diwali in the midst of the economic uncertainty created by the ongoing Covid-19 pandemic. Gold, being a non-essential item in the times of pandemic, had taken a backseat in consumer preference since Covid-19 outbreak. But as the economy opened up in a phased manner, consumers slowly started to take interest in gold as the yellow metal has given more than 25% return this year and the outlook on gold continues to remain bullish in one of the top gold-consuming nations of the world. Jewellers said that Dussehra demand has perked them up and they are expecting a much better Diwali. They said the pent up demand is already showing and even the fear of the ...

Oct202020 by adminNo Comments

Most Indians do not have a retirement plan, shows PGIM India MF’s retirement survey

Finance

Are Indians prepared for their retirement? Yet another survey result shows that they are not. Most participants of the survey said they did not have a retirement plan. Even those with a plan thought Rs 50 lakh is a large enough corpus to take care of their retired life. Also, if an individual was not sure about the size of his retirement corpus, s/he was unlikely to make a retirement. These along with some other surprising findings were thrown up by PGIM India Mutual Fund Retirement Readiness Survey 2020. Market research agency Neilsen was commissioned to conduct the survey which focused on some key questions: when do Indians plan their retirement and what are the possible reasons; what financial instruments are utilized; is lack of awareness undermining retirement planning; are Indians ea...

Sep262020 by adminNo Comments

Mid-range phones catch Indians’ fancy now, fashion and lifestyle not so much

Finance

NEW DELHI: Sales of mid-range mobile phones priced over Rs 15,000 on ecommerce platforms doubled in the May-August period from pre-Covid-19 levels on account of new launches, while fashion and lifestyle products slumped 53% in August, according to market research firm Nielsen. In the fashion category, products priced at less than Rs 500 accounted for 40% of the orders, down from Rs 1,000 earlier, as shoppers cut spending, Nielsen said. There was a 26% increase in sales of electronics and home appliances through ecommerce channels in the months from May to August, as the economy opened up, compared with the pre-Covid-19 period of December to February. Overall ecommerce sales in August stood at 71% of the pre-Covid-19 level, Nielsen said. Consumers were cautious and generally scouted for dea...