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By Nishant Arora
While the ongoing pandemic has left crores of Indians in deep financial trouble who are struggling to make ends meet, the aspirational Bharat — riding on the pent-up demand and discretionary income — is all set to embark on a record online festive sale journey that begins this week.
E-commerce marketplaces Amazon, Flipkart and Snapdeal are ready with festive discounts and mega offers that will begin raining on the consumers from October 16 and those five-six days are set to defy the pandemic-induced economic distress that has engulfed the masses.
Driven by the small-town India, the festive seasons sales are looking to break earlier records. According to Bengaluru-based management consulting firm RedSeer, the forthcoming festive season sale is projected to generate a gross merchandise value (GMV) of $7 billion — a massive 84 per cent growth compared to $3.8 billion in GMV sales in the same period last year.
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Based on the expected strong festive sales performance, ecommerce is anticipated to grow and reach $38 billion in sales in CY20, up 40 per cent year-on-year.
As experts debate the impact of the pandemic in small-town India, RedSeer said in its annual ‘Online Festive Sales 2020 Forecast’ report that this year’s festive season sale will see more than half of the orders coming from tier-2 towns and cities with 45 to 50 million users.
According to Prabhu Ram, Head- Industry Intelligence Group (IIG), CMR, the festive season sales will be driven by two broad consumers’ cohorts.
“On the one hand, premium buyers will seek to engage in impulsive shopping to make-up for the lost time. On the other hand, there will be the value buyers, including many first-time ecommerce shoppers from aspirational bharat,” Ram told IANS.
Over 1 lakh Amazon-enabled local shops, kiranas and neighbourhood stores across India will serve customers in the upcoming festive season on the e-commerce platform.
More than 20,000 offline retailers, kiranas and local shops from “Local Shops on Amazon” programme will participate in the “Great Indian Festival” sales for the first time, that starts from October 17.
“This festive season we are focused on helping our sellers and other MSME partners grow their business and bounce back from the recent challenges,” said Manish Tiwary, VP, Amazon India.
More than 6.5 lakh sellers are ready to offer crores of products on Amazon.in and customers can shop from over 4 crore products from small and medium businesses (SMBs) and products from over 20,000 local shops across 100 cities.
Flipkart is not far behind. It will unveil over 200 special edition products in partnership with more than 100 leading brands during its ‘Big Billion Days’ sale that begins from Otcober 16.
The ecommerce marketplace has also on-boarded over 50,000 kiranas to bring festive cheer to consumers across 850 cities.
Want to read more in Hindi? Checkout: श्रीकांत दातार बने हार्वर्ड बिजनेस स्कूल के डीन
Called ‘Kum Mein Dum,’ the Snapdeal sale selection is built around the choices indicated by more than 1.25 lakh participants across 92 cities.
Snapdeal said it worked closely with manufacturers to bring products for its customers at prices lower than last year, adding over 10,000 sellers in the last three months to increase its inventory of value-priced merchandise.
According to industry reports, the festive season shopping is going to witness huge demand from consumers with over 45-50 million shoppers coming online.
“The focus of eCommerce platforms will be to drive accessibility, availability and affordability for consumers in tier II, III and beyond (including smaller towns), with the intent of driving sales,” Ram emphasized.
According to RedSeer, the 2020 e-commerce festive period is set to witness 1.8 times more shipments compared to last year’s festive period.
“Covid has enabled massive growth in new shoppers as consumers now more than ever prefer to shop in a manner that is convenient, safe and hygienic and the e-commerce space meets these requirements. Consumers show positive sentiments to purchase during this (festive sale) period,” it said.
According to Kalyan Krishnamurthy, CEO, Flipkart Group, this festive event continues to focus on Flipkart’s commitment to provide value for consumers, opportunities for growth for MSMEs and sellers, and “employment generation through e-commerce”.
“Emerging from the throes of the pandemic, all the indicators point to a bigger than usual sales during the festive season. This may seem definitely at odd with the overall economic scenario, low consumer confidence and curtailed discretionary spending,” Ram told IANS. (IANS)
By- Blogger Indifi
EMI is known as equated monthly installments. It is a fixed payment made by the borrower each month to repay the loan amount. The EMI is divided into two loan components. One is the principal amount, and the second is the interest amount. Whether you are applying for a personal loan, business loan, home loan, car loan, or education loan, EMIs are easy to calculate using the EMI loan calculator.
Three parameters based on which EMI calculator works:
- Loan amount.
- Repayment tenure.
- Rate of interest (offered by the lender).
Factors that affect the Loan EMIs
Above, we have discussed the main parameters on which loan EMI is based. Here are the factors that affect the EMIs.
Changes in the loan interest rate: There are three loan interest rates -- fixed, floating, and hybrid.
When an interest rate offered on a loan is fixed, in that scenario, there are no changes in the EMIs.
A floating interest rate is linked to the marginal cost of the fund-based lending rate and can change the loan EMIs. As the rate is flexible, it keeps changing per the repo rate.
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If you have taken the loan on a hybrid interest rate, the interest rate is fixed only for a particular tenure. After that, it is on MCLR to decide the interest rate, and based on the determined interest rate, the EMI changes.
Tenure: When you opt for a loan transfer from one lender to another, there may be a possibility of change in the loan tenure. It will also bring changes in the EMI calculations. If the tenure increases, it will decrease the EMI. In case the tenure is reduced, EMI will increase.
Sample loan chart of a business company Image source: wikimedia commons
The loan amount of repayment is also a reason that affects a loan's EMI. If you make a loan prepayment, it reduces the outstanding principal amount, based on which the EMI amount or tenure is changed.
Benefits of using an online EMI calculator:
- Find out exact EMIs to be paid monthly for any loan.
- Saves time.
- Get a detailed overview of loans applied using the amortization schedule.
- Plan your monthly finances well in advance.
You can set multiple schedules and loan tenures. After a detailed schedule comparison, choose the one that suits well with your financial requirements.
Significance of loan amortization schedule in EMI calculator
A loan amortization schedule data shows the EMI break-ups. It shows how much EMI you need to pay for interest and what you will pay as the principal amount. It is one of the most significant advantages of using the EMI calculator. The EMIs that you pay as principal will keep reducing the loan's principal amount. It will also result in decreasing the interest amount. You will get to know all these things when you use the EMI loan calculator frequently. The amortization schedule is one of the essential features of an EMI loan calculator that helps design the proper prepayment schedule.
The different types of EMI calculators
Home loan EMI calculator
Home loans are one of the most popular and common loans applied for in India. It has a long tenure and a sizable principal amount. Whenever you apply for a home loan, it is essential to do all the EMI calculations in advance. There are various home loan EMI calculators available online with every home loan provider. All that is required to calculate the EMI is the loan amount, tenure, and interest rate. Using a home loan EMI calculator can help you easily plan your finances.
Business loan EMI calculator
Like home loans, business loans also come with a massive principal amount and longer tenures. So, using the business loan online EMI calculator is a smart way to calculate the business loan EMIs. Requirements are the essential loan details, such as repayment tenure, interest rate, and the loan amount. Online, equated monthly installment is automatically calculated at the lender's website.
Personal loan EMI Calculator
Personal loans are multipurpose. It is the reason they are considered as the most applied loan to meet immediate financial requirements. For choosing the right loan amount, you must use the personal loan EMI calculator. It will help you to choose the best interest rate loan offer and tenure. Try to go with the shorter term to pay less interest on the principal amount.
Sample of External Loan amounts Image source: wikimedia commons
Education loan EMI calculator
Education costs increase each year and can cause financial strains on a family. If you are planning to send your child overseas for higher education by applying for an education loan, at that time, the EMI calculator proves to be the best online financial tool. It will help you to decide the right EMI amount where your daily expenses remain unaffected.
Simple interest loan EMI calculator
An EMI calculator is used to calculate the simple interest applicable on the loan amount for a specified tenure. It is one of the most accessible financial tools. All that is required is tenure, a simple interest rate, and the borrowed amount. After that, click on 'calculate' to know the exact EMI to be paid.
Loan against property EMI calculator
If you have any residential or commercial property registered in your name, you can apply for a loan against the property. It is a kind of secured loan, where the property is kept as collateral. To understand how EMI works under this loan scheme, use the loan against the property EMI calculator.
Overall, EMI loan calculators are one of the best financial tools to compare varied loan offers. It provides a clear picture of the total cost of the loan and respective EMIs to be paid monthly. Online EMI calculators are available on every lender's website; whether you are applying for a business loan online, home loan, car loan, personal loan, or any other loan, using the online EMI calculator can help. Just with a click of a mouse, you can keep control of your financial life.
The online EMI loan calculator has been programmed with the formula based on the loan applied. There is no need to worry about the accuracy of the result. All that you are required to share for the calculator to do its job accurately is the right amount, tenure, and interest rate offered by the lender.
Disclaimer: (This article is sponsored and include some commercial links)
The symbol of Swastika is known to signify peace, prosperity, and good fortune in the religious cultures of Eurasia. In fact, this symbol is considered very significant in Hinduism, Buddhism, and Jainism. But, at the same time, it has become one of the most misunderstood religious symbols and has been globally banned in many countries.
The reason why the symbol of Swastika is banned in many countries is because of its association with Adolf Hitler's extreme political ideology, Nazism, as Swastika as its official symbol.
Austria, France, Latvia, Spain, Germany, and Russia are amongst the many countries that have banned the display and use of the Swastika.
Moreover, last week Victoria in Australia is preparing to become the first-ever state to ban the public display of the Swastika. This is a step towards an expansion of anti-vilification laws in the state.
Representation of the Swastika on the flag of Adolf Hitler's Nazi Movement.Photo by Flickr.
Now, we must know and understand what went wrong with this symbol, which is sacred and signifies all-good things.
For a very, very long time, in India, the Swastika is the first emblem that is worshipped or even drawn before any sacred and auspicious ceremonies as this symbol in Sanskrit represents 'well-being'. But, the Swastika lost all its credibility when it was wrongfully used by Adolf Hitler.
In fact, it is believed that if this symbol is worshipped properly, then it gives positive results. But if it is abused, then it gives negative results. So, when Adolf Hitler rotated the Swastika at 45 degrees, it slowly and steadily brought misery not only to Adolf Hitler and his theory of Nazism but also to all the people who were associated with him.
Therefore, in order to give the kind of respect and credibility which the Swastika deserves, World Interfaith Harmony Week which was held in New York in February this year, interfaith groups appealed to the United Nations to recognize and acknowledge the Swastika as an important and peaceful symbol. In fact, they also differentiated it from the Hakenkreuz or "Hooked Cross" of Adolf Hitler.
India celebrated a historic day on August 7, as 23-year-old Neeraj Chopra became the first Indian to win an Olympic gold medal in athletics. In the men's javelin throw event, he achieved his greatest triumph, throwing the javelin 87.58 meters on his second try.
Neeraj Chopra was born on December 24, 1997, in Khandra village in Haryana's Panipat district. He grew up in a Haryanavi family of farmers. He is the brother of two sisters. He graduated from Dayanand Anglo-Vedic College in Chandigarh and is now enrolled in Lovely Professional University in Jalandhar, Punjab, pursuing a Bachelor of Arts degree. Chopra was bullied due to his obesity as a kid, which prompted his father to enroll him in a nearby gym. He then joined a gym in Panipat, where Jaiveer Choudhary, a javelin thrower, noticed his potential and coached him. When the 13-year-old Chopra finished training under Jaiveer for a year, he was enrolled at the Tau Devi Lal Sports Complex in Panchkula, where he began training under coach Naseem Ahmed.
In 2018, he broke the world record in the javelin throw and became India's first-ever gold medalist in the javelin throw. He is also a laureate of the Arjuna Award for 2018. | Wikimedia Commons
Chopra's first international medal came in 2014, as he took home a silver medal at the Youth Olympic Qualification Tournament in Bangkok. In 2015, he set a world record in the junior category of 81.04 meters in the 2015 All India Inter-University Athletics Meet.
Since emerging into the public eye with a historic gold medal at the junior world championships in 2016, he has maintained a high level of performance, setting an Under-20 world record of 86.48m, which still stands. Gold medals in both the 2018 Commonwealth Games and the 2018 Asian Games are among his other accomplishments, including a first-place in the 2017 Asian Championships. In 2018, he broke the world record in the javelin throw and became India's first-ever gold medalist in the javelin throw. He is also a laureate of the Arjuna Award for 2018.
Chopra has also had his share of bad events in life. In 2019, he underwent surgery on the elbow of his right throwing arm, which kept him out of the game for almost a year. However, he returned more robust than ever. In November 2019, he went to South Africa to train from Klaus Bartoneitz. He spent the following year in India training at the NIS Patiala because of the COVID-19 pandemic. He was allowed to go to France with his coach after weeks of trying to get a travel visa.
Neeraj Chopra made history in the 2020 Tokyo Olympics by becoming the first Indian to win a gold medal in athletics. Also, it is worth mentioning that after Abhinav Bindra, Chopra is only the second Indian to win an individual gold medal.
Keywords: Neeraj Chopra, Olympics, Tokyo2020, Gold medal, javelin, India, Haryana