WOMEN AND FINANCE
Piramal Capital raises $100-million social loan
Piramal Capital & Housing Finance raises $100 million social loan pre-funded by Standard Chartered Bank. The loan, benchmarked to SOFR, will support affordable housing, MSME business loans, and other social causes. The lender aims for 15% AUM growth in FY25 and plans to expand the retail business.
How would-be brides can manage finances after marriage
Monisha Choudhary is set to be married soon. There are two critical financial decisions Choudhary needs to make. She should consider her existing assets and investments, which can remain in her name, to be disclosed to her new family at her discretion. She can continue building these assets based on her income allocation. Read here to find what are the other ways to secure finance after marriage.
Union Budget 2024 will likely focus on women, middle-class and agri sector
BUDGET EXPECTATIONS: Narendra Modi's third-term Budget, slated for July 23, focuses on leveraging revenue growth and RBI dividends for infrastructure and targeted sectors. The session will also introduce non-legislative reforms. The Economic Survey will precede, highlighting achievements and future plans. Sitharaman aims to tackle inflation, unemployment, and regional disparities with tax measures and social benefits, aiming for a fiscal deficit of 4.5% amid robust GDP projections.
WEP and Transunion Cibil to collaborate to enhance financial literacy and business skills of women entrepreneurs
NITI Aayog's Women Entrepreneurship Platform (WEP) and TransUnion CIBIL have launched SEHER, a comprehensive credit education program for women entrepreneurs. SEHER aims to enhance financial literacy and business skills, enabling women to access crucial financial tools for business growth. This initiative supports WEP’s goal of improving financing access for women in India’s 63 million MSMEs.
Budget 2024: Will govt retain focus on LPG subsidy to keep the cooker burning in rural India?
Union Budget 2024: The Modi-led government is likely to allocate Rs 9,000 crore for the LPG subsidy to beneficiaries of the Pradhan Mantri Ujjwala Yojana (PMUY) in the upcoming Budget, according to a report by ET Now citing sources. This move continues the government's focus on providing subsidies under the Ujjwala Yojana scheme, primarily benefiting women.
Madhya Pradesh budget focuses on infra, women and tribal welfare; no new tax
Madhya Pradesh government presented the state budget for 2024-25 with an outlay of Rs 3.65 lakh crore, focusing on infrastructure and welfare of women and tribals without announcing new taxes. Finance Minister Jagdish Devda faced opposition uproar regarding a nursing college scandal being probed by the CBI. The budget aims to double in size in five years, with increased allocations for various sectors, including education, agriculture, and social welfare programs.
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India looks to match world average for share of women in workforce
Proposals under consideration include incentives to create employment, development of the care economy, and enabling easier access to finance to encourage more women to join the labour force, said people aware of the deliberations.
Women outpacing men with higher AUM, long-term outlook in mutual funds
The proactive approach undertaken by women investors to achieve financial autonomy and growth, underscoring their commitment to long-term investing.
MSME Day 2024: Participation of women in MSMEs increases but challenges remain
MSME Day 2024: While the role of women has increased significantly in India’s MSME set-up, certain challenges remain which need to be soon addressed. Notably, the women-led MSMEs play a critical role in this set up. They contribute significantly to employment and investment.
China's women basketball star Zhang Ziyu causes sensation with over 7-foot height but can't play in US now. Here's why
China's women basketball player Zhang Ziyu is being compared with legendary former NBA star Yao Ming.
Apple supplier Foxconn rejects married women from India iPhone jobs
A former human-resources executive at Foxconn India said the company's executives verbally convey the recruitment rules to its Indian hiring agencies, which Foxconn tasks with scouting for candidates, bringing them in for interviews and employing them.
Protest outside Atishi's residence for Rs 1000 honorarium to women
Members of the Mahila Manch protested outside Delhi Finance Minister Atishi's residence, demanding the AAP government fulfill its budget pledge to provide Rs 1000 honorarium to city women. They said that the announcement was a commitment and not a campaign promise. Police confirmed the peaceful dispersal of protesters, with Atishi attributing the demonstration to BJP's women wing's attempt to gain votes by undermining the government's commitment.
2014, 2019 and now 2024: Nirmala Sitharaman takes oath as Union minister in PM Modi cabinet
In the 2014 cabinet, she served as the Minister of State for Finance and Corporate Affairs and later the Minister for Commerce and Industry with Independent Charge. In 2017, she was appointed as the Union Defence Minister.
Nirmala Sitharaman: Feisty defender of Modi govt to filling big shoes
As a staunch defender of the Modi government's economic policies and executor, Nirmala Sitharaman created a record when she was appointed as the first female Raksha Mantri, or Defence Minister, in 2017. Prior to that, she was industry and commerce minister.
Meet India's Insolvency professionals: Male, chartered accountants and not so young
The typical Indian insolvency professional (IP) is a middle-aged male chartered accountant. Only 10% of the 4,352 registered IPs are women, and just 7% are under 40 years old, according to data from the Insolvency and Bankruptcy Board of India (IBBI). Most IPs are chartered accountants (55%), with the rest being company secretaries (17%), lawyers (6%), and cost accountants (5%). About 90% are aged between 40 and 70.
Ladies at the head of the lines
The first five phases of the 18th Lok Sabha elections in India have concluded, with strong voter turnout, especially among women. Despite concerns, 66.95% turnout was recorded in the first four phases, with 25 million more voters than in 2019. Women have shown significant political engagement, with their voter numbers increasing more than men's. Key states like Karnataka and Telangana saw substantial voter increases. This trend continues the pattern of higher voter participation seen since 2014, highlighting women's growing influence in Indian politics.
Free bus rides for women: PM lacks info on Metro finances, says Dy CM Shivakumar
The Dy CM was questioning the PM's assessment of metro finances. The PM, in a recent interview, had questioned the freebies that potentially create a crisis of funds for a state government. The governments, he said, would build metro networks in a city, but later promise free bus rides in the same city to win elections. This meant taking away 50% of passengers.
HDFC Bank raises USD 500 mn from IFC for on lending to women borrowers
HDFC Bank secured a USD500 million loan from IFC to support underserved women borrowers by providing microloans through self-help and joint liability groups. The initiative aims to promote financial inclusion and socio-economic growth, empowering women and benefiting the economy.
Why many Indian women are saying no to marriage
Today’s young women know that this patriarchal arrangement will take away their power, forcing them to share responsibility disproportionately and render them financially unequal
How to manage money after losing spouse? 5 critical lessons to deal with family finances
In a sudden turn of fate, Shubha (49) became a sole guardian of her family's finances after her husband's death. With young children (17 & 13), she took charge, seeking guidance from trusted advisors. To secure their future, Shubha meticulously documented all assets (bank accounts, investments) and navigated complex paperwork to ensure ownership transitioned smoothly. Here are the financial lessons that you can learn from Shubha's journey.
Concerns on low voter turnout a 'myth'; absolute number of voters correct way to analyse: SBI Report
An economist at SBI, Soumya Kanti Ghosh, dismissed concerns about low voter turnout in the first two phases of the 2024 general elections, labeling them as a "myth." He suggested that analyzing the absolute number of votes cast provides a better measure of turnout. Ghosh noted a 0.4 percent increase in the absolute number of votes cast in the initial phases. While acknowledging a 3.1 percentage point deviation from the 2019 voting trend, Ghosh predicted a potential "J-shaped" growth in the remaining phases.
Why women refuse marriage
Young women see marriage as a patriarchal arrangement that takes power away from them. They insist on keeping their jobs and do not cede control over their finances. They know that child-bearing will be a responsibility that will fall disproportionately to them, and will need a career break and setback in their earning capability.
Gender diversity still a long way away among CFOs as women still remain underrepresented
Despite gender diversity efforts in India, women are underrepresented in CFO roles. Challenges include bias, retention issues, and supply-side constraints. Companies struggle to retain high-potential women, impacting women's rise to top finance roles.
Finance Minister says working to empower rural women with technology
Referring to the government's recent initiative of NaMo Drone Didi, which trains women to pilot drones in villages to spray pesticides and fertilisers on crops, the finance minister said teaching women a technology that even men weren't using was a big step in boosting their confidence.
Modi govt has taken many women-centric decisions, says finance minister
Finance Minister Nirmala Sitharaman highlighted several women-centric policy decisions taken by the government, including permanent commissioning of women officers and raising maternity leave from 12 to 26 weeks. She also mentioned efforts to promote entrepreneurship among women, such as providing credit facilities under the PM Mudra Scheme and reservation under the Fund of Fund for women-led startups. She expressed satisfaction that 20 out of 111 unicorns are led by women. Additionally, she mentioned the public procurement policy ensuring 3% of purchases are from women-led businesses and the women's reservation bill passed in Parliament.
Women's Day: How can women ensure optimum financial health?
Four women across sectors and positions tell us what is the one piece of financial advice for women that they recommend.
As a millennial woman, shore up your finances this Women’s Day
Your choices shape the path ahead – whether it’s straight or curvy, flat or bumpy – and the speed limit you must drive under.
Seven-step guide for women investors in 2024
Navigating the intricate world of finance is made significantly smoother with the guidance of a seasoned financial mentor. These mentors act as trusted guides, providing personalized advice, helping you avoid common pitfalls, and tailoring strategies to your unique risk profile and goals.
How single women can become financially independent
ingle women in India face a myriad of challenges on their path to financial equality. Income disparities persist, with women earning less on average than men due to gender-based pay gaps, necessitating strategic financial planning to maximise income potential. Here are a few financial tips to empower single women in building a prosperous future for themselves and their loved ones.
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