Instant Loan on Aadhaar Card: A Quick and Hassle-Free Option

In today’s digital era, obtaining an instant personal loan has become more accessible, especially with the Aadhaar card serving as a primary document for verification. Many lenders offer quick loans with minimal paperwork, making it a convenient option during financial emergencies. While an Aadhaar card simplifies the process, some lenders may still require additional documents like a PAN card and income proof.

Simplified Loan Process with Aadhaar

The introduction of the Aadhaar card has streamlined the online loan application process. As a unique identity and address proof, Aadhaar enables a fully digital KYC process known as e-KYC. This eliminates the need for physical documentation, allowing borrowers to complete verification online and receive quick approvals. Many Platforms, in collaboration with financial institutions, offer instant loans of up to ₹15 lakh with interest rates starting at 12% per annum. The process involves entering basic details, completing KYC verification, and selecting an EMI tenure.

Benefits of an Instant Loan on an Aadhaar Card

  • Quick Approval: Digital platforms streamline the approval process, ensuring minimal waiting time.
  • Seamless Application: The entire process can be completed online through a smartphone without visiting a bank branch.
  • Minimal Documentation: Only basic details and Aadhaar verification are required, eliminating the need for extensive paperwork.
  • No Collateral Required: These loans are unsecured, meaning borrowers do not need to pledge assets.

Eligibility Criteria for an Instant Aadhaar Loan

  • The applicant must be an Indian citizen.
  • They must possess a valid Aadhaar card issued by UIDAI.
  • The age limit ranges from 21 to 60 years (varies by lender).
  • The applicant must be either salaried or self-employed.
  • A good credit score is necessary for better approval chances.
  • Income proof may be required by some lenders.

Check: Online EMI Calculator for the ease of calculation

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Aditya Birla Sun Life Mutual Fund Changes Benchmark for Multi-Index Fund of Funds

Aditya Birla Sun Life Mutual Fund has announced the revision of Aditya Birla Sun Life Multi-Index Fund of Funds benchmark composition. The earlier benchmark – 50% Nifty 500 Total Return Index + 30% CRISIL Low Duration Debt Index + 10% MSCI All Country World Index + 5% Domestic Price of Gold + 5% Domestic Price of Silver, has now been changed. 

The updated benchmark replaces the CRISIL Low Duration Debt Index with the NIFTY Low Duration Debt Index A-I, while the rest remains the same.

Fund Details

This is an open-ended scheme launched on October 14, 2022, and falls under the high-risk category, as per its riskometer. The fund has generated a return of 18.80% since its launch.

As of December 31, 2024, the fund holds ₹18 crore in assets with an expense ratio of 0.29%. Computer Age Management Services Ltd. serves as the Registrar & Transfer Agent for the scheme.

Investment Strategy

The fund primarily invests in passively managed instruments, including ETFs, index funds, fixed-income securities, and commodities like gold and silver. It includes both domestic and overseas ETFs.

Investment 

Investment Type Amount (₹)
Minimum Investment 100
Minimum Additional Investment 100
Minimum SIP Investment 100
Minimum Withdrawal 1
Minimum Number of Cheques 6

The fund has an exit load of 0.5% if units are redeemed within 15 days. There is no lock-in period.

Benchmark Composition

The new benchmark is now:

  • 50% Nifty 500 Total Return Index
  • 30% NIFTY Low Duration Debt Index A-I
  • 10% MSCI All Country World Index
  • 5% Domestic Price of Gold
  • 5% Domestic Price of Silver

The change in the benchmark mainly affects the fixed-income portion of the fund, aligning it with the NIFTY Low Duration Debt Index A-I instead of the previously used CRISIL Low Duration Debt Index.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.

Gold and Silver Prices on January 31: Check Rates in Your City

On Friday, January 31, 2025, gold prices increased as of 1:34 PM. The spot gold price in the international market saw a 0.06% increase, nearing $2,800 per ounce. Gold prices hit a fresh all-time high after weak US data and Donald Trump’s latest tariff threats increased safe-haven demand.

In India, gold prices increased by over ₹1,000 across major metro cities. In Mumbai, 24-carat gold is priced at ₹8,224 per gram, while 22-carat gold costs ₹7,539 per gram. The price of 24-carat gold stands at ₹82,240 per 10 grams, up ₹1,010 as of 1:34 PM on January 31, 2025.

In Delhi, 22-carat gold is currently priced at ₹75,258 per 10 grams, while 24-carat gold is trading at ₹82,100 per 10 grams, marking a ₹1,010 increase.

Gold Prices Across Major Indian Cities (Per 10/gm) – 31st January 2025

Here is a detailed breakdown of gold prices as of January 31, 2025:

City 24 Carat Gold (per 10gm in ₹) 22 Carat Gold (per 10gm in ₹)
Chennai 82,480 75,607
Hyderabad 82,370 75,506
Delhi 82,100 75,258
Mumbai 82,240 75,387
Bangalore 82,310 75,451

 

Silver Prices in India on January 31, 2025

The spot silver price declined slightly by 0.10% to $31.51 per ounce as of 1:34 PM. However, silver prices in India have increased by over ₹900.

Silver Prices Across Major Indian Cities (₹/KG)

 

City Silver Rate in ₹/KG 
Mumbai 93,810
Delhi 93,650
Kolkata 93,710
Chennai 94,090

 

Key Takeaways

  • Gold Prices: Both 22-carat and 24-carat gold prices surged across India, with 24-carat gold crossing ₹82,000 in major metro cities.
  • Silver Prices: While international silver prices decreased, domestic prices increased on January 31, 2025.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Bandhan Mutual Fund Files For Bandhan Fixed Maturity Plan – Series 214 (370 Days)

Bandhan Mutual Fund has filed a draft for Bandhan Fixed Maturity Plan (FMP) – Series 214 (370 Days), a close-ended debt scheme with a tenure of 370 days from the date of allotment. It aims to generate income by investing in debt and money market instruments that mature on or before the scheme’s maturity date. 

As a close-ended scheme, it is available for investment only during the New Fund Offer (NFO) period and does not reopen for subscriptions.

Investment Allocation

The scheme invests 70% to 100% in debt securities and 0% to 30% in money market instruments. It does not invest in foreign securities, derivatives, or instruments with special features such as structured obligations or credit enhancements. 

The benchmark for the scheme is the Nifty Short Duration Debt Index A-II.

Liquidity & Listing

Since redemptions are not allowed before maturity, investors looking to exit before 370 days must sell their units on the BSE, where the scheme is proposed to be listed.

Plans & Options

The scheme offers two plans:

  • Regular Plan
  • Direct Plan

Both plans have the following options:

  • Growth Option (default if no selection is made)
  • Income Distribution cum Capital Withdrawal (IDCW) Option

A minimum investment required during the NFO period is ₹5,000, with additional investments allowed in multiples of ₹1.

NAV Disclosure & Expenses

The first Net Asset Value (NAV) will be calculated within five business days from allotment. NAV updates will be available on AMFI and Bandhan Mutual Fund websites. The total expense ratio (TER) is capped as per SEBI regulations, and no exit load applies since premature redemptions are not permitted.

Fund Manager

The scheme is managed by Gautam Kaul, who has over 20 years of experience in fixed-income fund management.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.

Bandhan Mutual Fund Files Draft For CRISIL- IBX 10:90 Gilt + SDL Index – Dec 2029 Fund

Bandhan Mutual Fund has announced the Bandhan CRISIL-IBX 10:90 Gilt + SDL Index – Dec 2029 Fund, it is an open-ended target maturity index fund launched as a New Fund Offer (NFO). 

 

The fund primarily invests in government securities and state development loans (SDLs), tracking the CRISIL-IBX 10:90 Gilt + SDL Index – Dec 2029. The fund provides investors with a low-risk investment opportunity, maturing on December 31, 2029.

Asset Allocation

The Bandhan CRISIL-IBX 10:90 Gilt + SDL Index – Dec 2029 Fund primarily invests 90% of its portfolio in State Development Loans (SDLs), which are issued by state governments and typically offer a slight yield premium over central government securities. 

Additionally, 10% of the fund is allocated to Government Securities (G-Secs), seeking stability and lower credit risk. To maintain liquidity and meet redemption requirements, the fund may hold up to 5% in cash and money market instruments, providing flexibility in managing short-term cash flows.

New Fund Offer (NFO) Details

  • NFO Price: ₹10 per unit
  • Minimum Investment: ₹1,000 (lump sum), ₹100 for SIP (minimum six installments)
  • Exit Load: None
  • Investment Objective: The fund aims to generate returns that align with the CRISIL-IBX 10:90 Gilt + SDL Index – Dec 2029, subject to tracking errors. 

It does not guarantee or assure returns.

 

Category Details
Exit Load NIL
Lumpsum Purchase (NFO) ₹1,000 and in multiples of ₹1 thereafter
SIP (NFO) ₹100 and in multiples of ₹1 thereafter (Min 6 installments)
STP (NFO) ₹500 and any amount thereafter
Fresh Purchase (Ongoing) ₹1,000 and in multiples of ₹1 thereafter
SIP (Ongoing) ₹100 and in multiples of ₹1 thereafter (Min 6 installments)
SWP (Ongoing) ₹200 and any amount thereafter
STP (Ongoing) ₹500 and any amount thereafter
Booster SIP As applicable
Additional Purchase ₹1,000 and in multiples of ₹1 thereafter
Minimum Redemption ₹500 or account balance, whichever is less

Benchmark and Liquidity

The fund is benchmarked to CRISIL-IBX 10:90 Gilt + SDL Index – Dec 2029. Units can be bought or redeemed on any business day at NAV-based prices. If redemption proceeds are delayed beyond three working days, interest at 15% per annum is payable to investors.

Capital gains on units held for more than three years are taxed at 20% with indexation benefits.

Expense Ratio

The fund’s total expense ratio (TER) is capped at 1%, with an additional 0.30% for new inflows from smaller cities.

This is a fixed-maturity debt fund with no past performance record, as it is a new offering.

Risks

  • Interest rate fluctuations can affect fund returns.
  • There is a possibility of tracking errors as actual investments may deviate from the index.
  • SDLs and G-Secs have low credit risk but may face liquidity challenges in certain market conditions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.

Bandhan Mutual Fund Files Draft For Fixed Maturity Plan – Series 213 (370 Days)

Bandhan Mutual Fund has announced Bandhan Fixed Maturity Plan – Series 213, which is a close-ended debt scheme with a fixed tenure of 370 days. The fund follows a structured approach by investing in a mix of debt and money market instruments that mature within the scheme’s tenure. 

Once the New Fund Offer (NFO) period closes, investors cannot make additional purchases or redemptions until maturity.

 

Feature Details
Scheme Type Close-ended debt scheme
Tenure 370 days
New Fund Offer (NFO) Price ₹10 per unit
Face Value ₹10 per unit
Minimum Investment ₹5,000 and multiples of ₹1 thereafter
Exit Load Nil
Benchmark Nifty Short Duration Debt Index A-II

Investment Objective and Strategy

The primary objective of the scheme is to generate income by investing in fixed-income securities that mature before or alongside the scheme’s tenure. The fund aims to minimise interest rate risk by holding securities till maturity. However, returns are not guaranteed and depend on market conditions.

Asset Allocation

  • Debt Securities: 70-100%
  • Money Market Instruments: 0-30%
  • Securitised Debt: Up to 40% of total debt assets

The scheme does not invest in derivatives, foreign securities, or structured obligations with credit enhancements.

Risk and Benchmark

The scheme falls under the B-I risk category, which means it carries relatively low interest rate risk and moderate credit risk. Its performance is benchmarked against the Nifty Short Duration Debt Index A-II, which represents short-term debt securities with similar risk characteristics.

Liquidity and Listing

Being a close-ended scheme, investors can only enter during the NFO period. Afterwards, units will be listed on BSE, allowing investors to trade on the exchange. There are no premature redemptions through the fund house.

Taxation and Fund Management

Taxation follows debt fund rules, meaning capital gains tax with indexation benefits applies if held for more than three years. The scheme is managed by Gautam Kaul, who has experience in debt markets and has previously managed various fixed-income funds.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.

Invesco India Balanced Advantage Fund Declares Income Distribution

Invesco India Mutual Fund has announced an income distribution of ₹0.15 per unit under the IDCW option (both regular and direct plans) for its Invesco India Balanced Advantage Fund. Investors looking to benefit from this distribution should take note of the record date, set for January 31, 2025.

Fund Overview and Asset Allocation

Launched on January 1, 2013, the Invesco India Balanced Advantage Fund is an open-ended fund that follows a dynamic asset allocation strategy. The fund seeks to generate capital appreciation and income by balancing equity and debt investments.

As of December 31, 2024, the fund holds ₹945 crore in assets under management (AUM). The allocation of assets stands at:

  • 57.11% in equity
  • 18.22% in debt
  • 24.67% in cash and cash equivalents

This approach is for the fund to adjust its exposure to market conditions.

Investment Details

For investors, the fund offers flexible investment options:

Investment Type Amount (₹)
Minimum Investment 1,000
Minimum Additional Investment 1,000
Minimum SIP Investment 500
Minimum Withdrawal 1,000
Minimum Number of Cheques 12

Exit Load and Expense Ratio

Investors looking to redeem units can consider the exit load policy. Exit load for units in excess of 10% of the investment, 0.25% will be charged for redemption within 3 months. The expense ratio for the fund stands at 0.82% as of December 31, 2024.

Performance and Risk

Since its launch, the fund has delivered a return of 13.00%. It follows the NIFTY 50 Hybrid Composite Debt 50:50 Index as its benchmark. The turnover ratio is notably high at 252%, indicating active portfolio adjustments.

While the risk grade is above average, the fund is classified under a “very high” risk category as per the Riskometer.

Fund Management

The fund is managed by Amit Ganatra and Dhimant Kothari, under Invesco Asset Management (India) Pvt. Ltd, with KFin Technologies Ltd serving as the Registrar and Transfer Agent.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.

ITI Mutual Fund Announces Fund Manager Changes Across Multiple Schemes

ITI Mutual Fund has announced a reshuffle in fund management responsibilities for several of its schemes, effective February 1, 2025. The changes impact important funds, bringing in a new approach while retaining some continuity.

Changes in Fund Management

ITI Mutual Fund has announced changes in fund management across multiple schemes, with the revised responsibilities set to take effect very soon. The reshuffle involves key personnel adjustments, with Laukik Bagwe replacing Rajesh Bhatia in several schemes, while certain co-fund managers retain their roles. 

Below is a detailed breakdown of the updated fund management structure:

Scheme(s) Existing Fund Managers New Fund Managers
ITI Arbitrage Fund Rajesh Bhatia, Rohan Korde (Co-Fund Manager), and Vikas Nathani (Co-Fund Manager) Laukik Bagwe, Rohan Korde (Co-Fund Manager), and Vikas Nathani (Co-Fund Manager)
ITI Balanced Advantage Fund Rohan Korde (Co-Fund Manager) and Rajesh Bhatia (Equity and Foreign Securities) Laukik Bagwe, Rohan Korde (Co-Fund Manager), and Rajesh Bhatia (Equity and Foreign Securities)
ITI Banking & PSU Debt Fund Rajesh Bhatia Laukik Bagwe
ITI Dynamic Bond Fund Rajesh Bhatia Laukik Bagwe
ITI Liquid Fund Rajesh Bhatia Laukik Bagwe
ITI Overnight Fund Rajesh Bhatia Laukik Bagwe
ITI Ultra Short Duration Fund Rajesh Bhatia Laukik Bagwe

Details and Implementation

These fund management changes are set to take effect from February 1, 2025. Investors in these schemes may refer to official ITI Mutual Fund communications for further details. Fund manager transitions occur periodically across the industry and are part of ongoing operational decisions taken by asset management companies.

All in all, ITI Mutual Fund has announced updates in fund management across multiple schemes, appointing Laukik Bagwe to oversee certain funds previously managed by Rajesh Bhatia. These changes will be implemented soon.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.

Western Carriers Secures ₹170 Crore Logistics Contract from Hindustan Zinc Ltd

Western Carriers (India) Ltd has secured a ₹170 crore contract from Hindustan Zinc Limited for multi-modal logistics services. WCIL will handle domestic and export transportation of zinc and lead ingots for HZL over 4 years, reinforcing its leadership in India’s logistics sector.

WCIL Wins ₹170 Crore Contract 

Western Carriers (India) Ltd (WCIL) secured a ₹170 crore contract from Hindustan Zinc Limited (HZL) for transporting zinc and lead ingots from smelting units in Rajasthan and Uttarakhand to ports and customer sites across India. The four-year deal covers both domestic and export logistics, strengthening WCIL’s presence in the supply chain sector.

Commitment to Efficient Logistics

CEO of WCIL, Kanishka Sethia highlighted HZL’s trust in their capabilities. As a leading multi-modal logistics provider, WCIL aims to deliver cost-effective and seamless transportation solutions to meet the growing needs of its customers.

Strong Nationwide Presence

With 50+ branch offices, 16 warehouses across 12 states and operations at 55+ rake handling points, WCIL ensures first-mile and last-mile connectivity. The company reported ₹854 crore in revenue and ₹37 crore in profit in H1 FY25, reflecting steady growth. 

The company’s broad reach and integrated logistics capabilities position it as a key player in supporting the expanding demands of industries requiring seamless transportation services.

Industry Leadership and Key Clients

Founded in 1972, WCIL specialises in providing integrated, end-to-end logistics solutions with a focus on rail-based transportation. The company is recognised as one of India’s leading 4PL logistics providers, offering customised supply chain management services. With expertise in handling domestic and international cargo, WCIL has built long-term partnerships with major corporations across multiple industries including metals, FMCG, pharmaceuticals and oil & gas.

WCIL Share Performance 

As of January 31, 2025, at 12:55 PM, shares of WCIL are trading at ₹108.70 per share, reflecting a surge of 6.97% from the previous day’s closing price. Over the past month, the stock has registered a slight loss of 4.69%.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

IRDAI Caps Senior Citizen Health Insurance Premium Hikes at 10%

The Insurance Regulatory and Development Authority of India (IRDAI) has introduced a new regulation that caps annual premium increases for senior citizens’ health insurance policies by a maximum of 10%. This decision, announced in a press release dated 30 January, aims to address the financial challenges faced by elderly policyholders due to rising healthcare costs.

The directive follows growing concerns over steep premium hikes that have placed a significant financial burden on seniors, particularly those with limited income sources.

Restrictions on Premium Increases

Health insurance premiums for senior citizens have seen sharp and frequent hikes in recent years, making it difficult for many to afford continued coverage. To prevent excessive financial strain, IRDAI has now mandated that insurers cannot increase premiums by more than 10% annually.

If an insurance provider intends to raise premiums beyond this limit or withdraw any existing health insurance products meant for senior citizens, they must first seek approval from IRDAI. This measure ensures greater transparency and prevents sudden changes that could leave elderly policyholders without essential coverage.

In addition to the cap on premium hikes, this regulation aims to safeguard the interests of senior citizens by requiring insurers to follow a more structured approach while revising their pricing strategies. IRDAI’s intervention seeks to create a more predictable and manageable premium structure, enabling senior citizens to plan their healthcare expenses without unexpected financial shocks.

Additional Measures for Senior Citizens’ Benefit

Beyond limiting premium increases, IRDAI has also directed insurance providers to take further steps to enhance the accessibility and affordability of health coverage for senior citizens. Insurers are now required to publicise all measures they undertake for the benefit of elderly policyholders. 

This will improve awareness and ensure that seniors can make informed decisions regarding their health insurance policies.

Additionally, IRDAI has emphasised the need for standardisation in hospital empanelment procedures and the negotiation of fixed package rates for medical treatments. This approach mirrors the cost-control measures implemented under the Pradhan Mantri Jan Arogya Yojana (PMJAY), a government initiative that seeks to make healthcare more affordable for vulnerable populations.

By encouraging insurers to adopt similar strategies, IRDAI aims to ensure that senior citizens receive adequate medical care without facing exorbitant costs.

To ensure compliance with these new regulations, IRDAI will closely monitor the insurance market, particularly concerning the implementation of these guidelines for senior citizens’ health insurance products. The regulatory body aims to create a fairer and more transparent system that prioritises the well-being of elderly policyholders.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.