Category: launch

Customers to save on interest by repaying higher principal every month in a structured manner
With QuikPay Home Loan, customer to save ~Rs 11.7 lacs on a Rs. 50 lac loan for 20 yrs
Instead of EMIs (equated monthly instalments), the customer will pay reducing monthly instalments

Mumbai, December 12, 2018: Axis Bank, the country’s third largest private bank, today launched ‘QuikPay Home Loan’, a first-of-its-kind home loan offering that will let home buyers save big on the interest amount component of the loan. Essentially, as against the industry norm, QuikPay Home Loan will offer an alternative repayment structure, wherein the customer repays an equal amount of principal every month along with interest on the outstanding balance. Thus an equated principal amount combined with reducing interest amount component will lead to reducing monthly instalments. As a result, there will be an overall reduction in total interest amount component paid over the entire tenure of the home loan, thereby benefitting the customer.

Instead of EMIs (equated monthly instalments), the customer will pay reducing monthly instalments. While the initial instalments will be higher (than the EMI on the same loan amount for the same tenure), the instalment amount keeps reducing throughout the loan tenure.

Speaking at the launch, Rajiv Anand, Executive Director (Retail Banking), Axis Bank, said, “For the benefit of our customers, we have launched QuikPay Home Loan, which is an innovative product that will reduce the overall interest burden on the borrower. We are confident that this unique concept of ‘reducing monthly instalments’, along with big savings on interest, will be an attractive proposition for home buyers.”

To illustrate the offering, let’s consider a typical home loan of Rs. 50 lacs for a 20 years at 9.00% pa. This loan will have a total interest outgo of Rs. 57.96 lacs over 20 years for the customer. However, with Axis Bank’s QuikPay Home Loans, for a loan of Rs. 50 lacs for the same tenure, even with a slightly higher annual rate of interest of 9.20%, the overall interest outgo will be only Rs 46.19 lacs, thereby resulting in an overall saving of Rs 11.77 lac for the customer.

Refer to the annexure for a detailed comparative break-up of the loan repayment schedule.

City Today News

(Tj vision media)

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~ UpGrad and IIIT Bangalore launch two new courses to meet demand gap ~

~ Top tier organisations like TCS, IBM and Infosys are expecting large revenue figures from Blockchain in FY19 ~

India, December 2018: With a 200% increase in job growth rates and salary hikes at 50-100%, Blockchain Developer is the fastest growing skill set and most in demand by employers. There are a significant number of job openings for roles such as Blockchain developer, Blockchain system architect, Blockchain software engineer, among others in top tier organisations like TCS, IBM and Infosys.

According to data from leading global job site, Bengaluru is the leading city for those seeking job opportunities in the Blockchain sector, with over 36 per cent of all the Blockchain job postings in India. It is followed by Mumbai, Hyderabad, Pune and Chennai, making up the top five destinations for Blockchain careers in the country.

UpGrad and IIIT Bangalore have introduced two online programs to ensure high quality upskilling in Blockchain. For existing software developers, IIIT Bangalore provides a 6 month PG Certificate Program in Blockchain Technology priced at Rs 1,00,000 only. For those who are new to coding, IIIT Bangalore & UpGrad have created another program – PG Program in Software Development – Specialization in Blockchain which teaches students the fundamentals of programming along with Blockchain development priced at Rs 2,25,000 for 11 months.

Speaking at the launch, Ronnie Screwvala, Co-founder and Mayank Kumar, Co- founder & MD – UpGrad said, “The IIIT Bangalore & UpGrad Programs are best positioned to kick start the learner’s career in Blockchain, especially with career assistance and industry relevant projects integrated into the program. The comprehensive programs provide extensive knowledge of Blockchain concepts as well as hands-on projects in developing smart contracts and Hyperledger applications, which is unlike any other course provider in the industry at present. The course is taught by IIIT Bangalore faculty and leading experts from IBM, DCB Bank, BankChain, Elemential, SpringRole, SquadX.”

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(Tj vision media)

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Bangalore, 8th December 2018: Swarovski lighting is proud to announce the opening of its flagship showroom in the prestigious area of Bangalore Karnataka. Today members of the public and invited guests are gathered to celebrate the official opening of this exciting new showroom in the city.
This new showroom, is part of

swarovski group expansion of business is a significant move from the company. Having flagship showroom in Bangalore places Swarovski in the heart of the growing economy and shows that brand is entering to the IT city.

Today, to mark the official opening of the flagship people were given the opportunity to visit the showroom and join the Swarovski celebration.
Yeshwanth Mehta , founder and CEO of Swarovski said, this is really exciting day for us, as it marks the official opening of our flagship showroom.

Mr. Yeshwanth Mehta founder of Mehta group inaugurated the Swarovski

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(Tj vision media)

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India’s most aspirational student overseas program

Bengaluru 7th December 2018: Students from the economically disempowered SC/ST communities access the world’s best universities. A new scholarship scheme, called the Prabuddha scheme, to be launched by the Department of Social Welfare, Govt of Karnataka, will for the first time allow students from SC/ST and other vulnerable communities to pursue their undergraduate, post graduate and PhD programmes in international universities at little or no cost.

The Prabuddha scheme will cover the student’s course fees, living expenditure and airfare to the country in which the student is pursuing their studies. Further 33% special reservation will be made in scholarships, for women candidates every year and 4% reservation for differently abled students. The Prabuddha scheme will cover up to 100% of education expenses for students whose total annual family income is less than 8 Lakhs, 50% of expenses for students whose family income is more than 8 lakhs but less than 15, and 33% for those whose annual income exceeds 15 lakhs.

Announcing the scheme, Dr. G Parameshwara, the Honourable Deputy Chief Minister of Karnataka said, “This is a pioneering move. Often access to education is limited because of lack of funds, and social pressures. With this scheme, we are removing at least one of the barriers to education for SC/ST students and are enabling the dreams of so many of our worthy and meritorious students. We hope that more students from across the state benefit from this scheme and contribute towards improving their own lives, the communities they come from, and our state too.”

Department of Social Welfare has taken great care had been taken to ensure equitable distribution of scholarship funds and that sufficient checks and balances had been introduced to ensure the scheme would be fair to all applicants, any student will be eligible to apply for the scheme only once, whether UG, PG or PhD, and that no more than two students from any one family can apply for the scholarship.

Talking about the scholarship, Shri Priyank Kharge, Honourable Minister of Social Welfare, Govt. of Karnataka said, “Dr. BR Ambedkar dreamt of enlightened India, Prabhuddha Bharatha. Government of Karnataka strongly believes in enabling students to broaden their horizons for the betterment of the society. We will give them an opportunity to flourish in a global environment and hope that these students will come back to contribute to the society and the State of Karnataka. Our vision is to ensure that aspiring students don’t go through the same struggle that Babasaheb Ambedkar faced while he studied abroad.”

The minister said that adequate measures have been taken to ensure students who apply for the scheme have the required eligibility for international study, and that funds will be transferred only on receipt of proof of enrolment and other documentation.

Students wishing to apply for thescholarship will need to do so online, after submitting required proofs and documents, also online. (www.scholarshipwebsiteaddress.gov.in). The applications form to be available on the website from 15th December, 2018.

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