All Posts by Himanshu Sheth

|In: Finance|Last Updated: | 0 Comments
Image Source – Traffic Police

The traffic police will issue an e-challan if you break any traffic rules. Let’s take a look at the process of paying the fine against an e-challan for your vehicle:

What is E-challan?

Traffic policy in India is the primary regulatory agency in the country that is responsible for preventing and controlling any acts violating The Motor Vehicles Act, 1988. They are responsible for the smooth movement of traffic in the country. To ensure this, the agency is trying to fully automate traffic enforcement.

A challan is a piece of paper which contains details related to the person it is issued to, along with a monetary amount that the person is supposed to pay. Usually, a challan is issued if a person violates traffic rules in India. Traditionally, a challan was issued to the violators which in turn used to pay cash to the corresponding police officer. However, soon the government observed flaws in this process as the chances of bribing an officer are more with the exchange of cash.

To seal such loopholes, e-challan was introduced. E-challan is the electronic form of challan issued to a traffic violator. For making the e-challan payment, one does not need to pay cash to the officer instead an online payment can be made through electronic transfer of money.

How to Check traffic e-challan of Your Vehicle?

Just like every Indian state has a dedicated online website for its RTO Office, it has a dedicated website for checking the status of e-challan as well. Here are the steps to check the e-challan status and make payment:

  • Step 1 – Note the E-challan number.
  • Step 2 – Visit your state’s E-challan payment website
  • Step 3 – Enter the E challan/vehicle registration number in the box
  • Step 4 – Enter the unique captcha code in the box and press enter
  • Step 5 – Pay the fine amount using your bank details

What happens if you do not pay the E-challan?

Once issued, it is mandatory to pay the fine mentioned on the e-challan before the due date. The due date for paying an E-challan is 15 days. If you break any more rules and have pending e-challans your driving license will be confiscated and you will not be able to drive your vehicle anymore.

Nowadays it is very difficult to dodge the punishments or fines if you break the rules, especially if you drive in an Indian city. The authorities have installed a closed-circuit television camera [CCTV] on almost every major road in the cities. If you break any rule, it will be recorded in the camera.

Most common traffic violations for which you might be issued a challan

The Bottom Line

Following traffic rules ensures the safety and well being of yourself as well as the people around you. Failing to do so can result in fatal accidents and even loss of life. Thus, it is important to respect any challan you receive for breaking rules and pay them after you do a challan status enquiry.

It is also important that you secure your vehicle with insurance on a regular basis. Insurance will extend a financial cover in case you meet with an accident and damage your vehicle or get injured. You should not only buy a basic insurance cover but also customize your policy according to your needs.

|In: Finance|Last Updated: | 0 Comments

Indians have adopted digitalization in the wake of the demonetization drive. This initiative has also made new investment options available for investors. Immediately after the demonetization, banks lowered the interest rates on fixed deposits [FDs], which are expected to further reduce.

Image Source – ULIP

Life insurance is gaining popularity while interest rates on FDs reduce. However, traditional insurance plans like money back and endowment plans do not deliver high returns on your investments.

Amongst the various types of insurance plans, Unit-Linked Insurance Plans [ULIPs] provide an excellent solution to build wealth over the long-term. The ULIP benefits include tax saving, life cover, and returns in a single financial product.

A unique feature of ULIPs is that you may choose to invest some portion of your premium in debt or equity instruments. Moreover, you may switch between one fund and another based on your changing needs. What makes ULIPs popular is that compared to most other market-related investment options the returns on such insurance plans are eligible for tax exemptions.

Financial planning and ULIPs

A robust financial plan not only includes smart ways to invest money but must also be tax efficient. Individual investors may invest in several tax-saving investments like Public Provident Fund [PPF], insurance plans, Equity-Linked Saving Schemes [ELSS], and ULIPs. To make the right investment decision, you need to consider appreciation, flexibility, wealth protection, and tax efficiency.

A regular life insurance plan offers tax benefits and life coverage but minimal returns. In comparison, mutual funds provide the opportunity to earn higher returns but with no life coverage and limited tax savings. Other options like PPF often deliver returns that are lower than the rate of inflation and do not help in wealth creation. ULIPs are an excellent option to overcome most of the limitations related to other investment products.

Tax savings on premiums

A portion of the premium paid on the ULIP is used towards offering the life coverage. The balance may be invested in debt, equity, or other money-market instruments. The amount paid as the premium is eligible for tax benefits under section 80C of the Income Tax Act. The maximum limit capped for such deduction is up to INR 1.5 lakh per annum.

The condition for the deduction

The section 80C deduction is available only if the total premium paid is less than 10% of the total sum assured under the ULIP. Here is an example to help you understand. Assume you have invested in a ULIP with a sum assured of INR 15 lakh with an annual premium of INR 1.5 lakh. This entire amount is eligible for tax deduction. However, if the premium exceeds INR 15 lakh, the deduction is capped at this maximum limit irrespective of the total annual premium amount.

Tax benefits on withdrawals

Another advantage of ULIPs that is not available if you invest in mutual funds is the benefits available on withdrawals. You may withdraw from a ULIP in three instances:

  • Demise of the policyholder
  • At the time of maturity
  • Partial withdrawal at the end of the five-year holding period

Death benefits paid to your beneficiaries in case of your demise during the policy period are completely tax-free. The payout may be higher than the sum assured because your chosen investments may have performed well and delivered superior returns.

The maturity benefits are available at the end of the policy term. At the time of maturity, you receive the sum assured or the fund value based on the investments, whichever is higher. These maturity benefits are eligible for tax exemption under Section 10 [10D] of the Income Tax Act. In comparison, the maturity benefits on mutual funds are taxed as per your income tax slab.

In addition to the tax benefits, ULIPs provide other advantages as discussed below:

  1. Financial goal planning

When you invest in a ULIP, you need to remain invested for at least five years. At the end of this lock-in period, you may make partial withdrawals. However, these cannot exceed 20% of the total fund value and are not taxable.

The partial withdrawal feature may be used to meet your various financial goals at different life stages. You may use ULIPs to meet the down payment for your home or to pay children’s higher education. You may combine different financial products such as debt and equity, based on your risk appetite, to meet your life goals.

  1. Increased investments

If you have an investible surplus, you may easily increase your investment in the best ULIP plan. This allows you the opportunity to earn higher returns and accumulate a larger corpus over the long-term. Moreover, these increased investments are also eligible for tax exemptions under Section 80C and Section 10 [10D] provided they satisfy the condition where the total premium does not exceed 10% of the sum assured.

  1. Choose investment options

When you invest in a ULIP, you may choose the financial instruments to invest your money. Based on your age, financial objectives, life stage, and risk appetite, you may invest in debt, equity, or any combination thereof. You may also switch between different instruments or modify the proportionate holding in these products. This allows you to benefit from market ups and prevent your losses in case of a downturn.

Investing in different types of financial instruments is recommended to earn returns and reduce the risk of investing. However, you may lack the financial expertise and the knowledge to make accurate investment decisions. To overcome this limitation, you may invest in a ULIP that combines several features of different investment instruments.

You may compare different ULIPs to analyze various parameters and make the right investment decision. Invest in one today if you do not already have an investment in ULIPs.

|In: Technology|Last Updated: | 0 Comments

After achieving success in Greater China, Middle East and North Africa [MENA], South-East Asia and the Americas, Uplive has witnessed tremendous growth in India since the beginning of 2018. Uplive, an offering from Asia Innovations Group [AIG], also an innovative leader in the mobile interactive entertainment space, headquartered in Hong Kong with 14 offices worldwide, has become the top mobile application in this segment globally.

Launched in May 2016, Uplive is a live-streaming platform that allows viewers to broadcast and view real-time videos via their smartphones. The platform’s unique blockchain protocol will enable users the ability to send virtual gifts to content creators, which can then be exchanged for money. Currently available in over 100 countries and with 500,000+ monthly broadcasters and over 60 million users worldwide, the app currently supports sixteen languages including English, Hindi, Arabic, Chinese, French, Portuguese, Spanish, and Thai.

With an addressable market size similar to China, Uplive has been the fastest growing live streaming app in India for the past couple months, with 100,000+ new Indian users registering Uplive per day. Among Uplive users, India is pegged to become the most significant player in a couple of months, and the AIG group will focus its resource on this critical market in the form of setting up a regional headquarter and an operations center.

AIG’s offering is wider than Uplive – As a social entertainment platform, AIG is going to roll out in India a series of video-based social apps such as short video platform and game broadcast. The group aims to build a next-gen social platform for the market, and it has a long-term vision with the Uplive ecosystem.

Mr. Ouyang Yun, Co-founder & Group president, Asia Innovations Group, said

Great content quality, an interactive audience, and full of passionate streamers, India is a vibrant and fast-growing market for us. That is why we have embarked upon the journey of setting up an office here and treat this as a strategic market for us. India holds a great opportunity as its billion-plus population is becoming highly digitalized and in strong need of social and entertainment content.

There are lots of people who are first-time smartphone users and are actively looking for entertainment options on their phones. There is a huge opportunity for both streamers and users in the Indian market.

Ravish Jain, Country Marketing Director, India for Asia Innovations Group, said

We want to onboard quality streamers and offer the best content, be it Indian music, talk shows or anything else. Everyone has a story to tell, to share, and we believe there is no better or easier medium to do that than live streaming. The format is inherently interactive, engaging, and accessible. We want to democratize self-expression even further while allowing our content creators to make money.

Uplive is known for its strong monetization model worldwide that provides its streamers with a portion of revenue that the platform receives from its users in form of gifting. Streamers who have signed contracts with Uplive platform earn around USD 500 per month on an average globally, thereby potentially creating a significant contribution to the local economy and improve employment rate. Anyone with talents have a new opportunity to make a living with this platform.

Uplive firmly believes that it is the most opportune time to enter the Indian market with 4G penetration and data price that is suitable for the Indian masses. It presents a massive employment opportunity for skilled, semi-skilled professionals and even amateurs who can become content creators.

Also, Uplive plans to make ‘live streaming’ a mainstream social media format in India by using its global formula of combining revenue collection with real-time interactive entertainment. Eventually, it aims significant revenues to be generated from India. The sustainable development of Uplive depends on its ability to integrate all kinds of social entertainment features together as well as the improvement of contents.

Mr. Ouyang was previously CEO of GaoPeng.com, a JV between Groupon, Tencent and Yunfeng fund, 2011-2013. Before Goapeng, Ouyang was Deputy GM of corp strategy at Tencent, where he oversaw company-wide mobile product strategy and international strategy, 2009-2011. He spent four years with the Boston Consulting Group working with leading Chinese and American Telecom and Consumers companies, 2005-2009. Ouyang has deep mobile product experience since 2001 with Qzone, Siemens, and Samsung, became the first Chinese global project leader for Siemens, working in three different countries in Asia and Europe. Ouyang got his MBA from HEC Paris and MS and BS from the National University of Defense Technology.

Ravish Jain brings almost a decade of experience to the business globally and he held many country-level positions covering various businesses across technology and consumer companies. He possesses a strong business and leadership record and has a deep understanding of the consumer and digital business landscape. Ravish specializes in executive leadership, marketing strategy, team building and business development. In his previous stints he has worked with companies such as JANA Mobiles [mCent browser], Meitu Technology and Micromax among others.

Uplive is currently available in both Android and iOS versions for download.

About Asia Innovations Group Limited

Founded by the most experienced leaders in Asia’s mobile social industry, combining profound experiences in Tencent, Google, and Zynga, AIG aims to bring the best of Asian mobile social product and business models to the international market. At present, AIG has many star mobile products such as Uplive, one of the largest live streaming platforms in the world, Super Fans, the largest celebrity fans community in China, GIFTO, the largest application blockchain token in the world, and Pengpeng, a video based social app popular in China, accumulating more than 100 million users worldwide.

|In: Marketing|Last Updated: | 0 Comments

Indian media is growing at an exponential rate. The advent of smartphones and internet has revolutionized the Indian media industry. Backed by the growing economy, India has witness launch of a host of new TV channels and print publications in the last decade. Public Relations has therefore grown as an important part in any company’s activity when it comes to informing general public about news related to their company or products.

However, due to various factors, small and medium, enterprise, individuals, corporates have found it challenging in sending their news to relevant journalists in newspapers, TV channels or trade magazines.

India PR Distribution discovered the solution to the problem by introducing economical options for press release distribution. It is India’s first press release distribution service that sends the press-release to Indian reporters and publications including Newspaper, TV, Radio and others. Reporters can directly contact news sources. The news is distributed to online portals, Indian reporters, and bloggers. The startup is also helping many businesses in improving their marketing and PR campaigns.

Nitin Jain, Co-founder – India PR Distribution, said

We have launched India PR Distribution with an aim to bring relevant stories to reporters and at the same time, provide an easy platform for businesses to send their news to both online and traditional print and electronic media.

India PR Distribution, a new-age start-up founded in November 2017, with a 10 member team is presently based in Gurgaon. So far India PR Distribution has successfully delivered the service to more than 70 clients including Startups, Educational Institutions, and small businesses.

How it Works

India PR Distribution carefully vets every Press Release submitted on its website and checks if the news is worth reaching out the public and the topic covered is fit to be covered in a national newspaper or TV channel. The news is then sent to the Industry specific journalists and publications, therefore bridging the gap between news source and media house.

|In: General|Last Updated: | 0 Comments

India has been a tea-loving nation and we can swear by our cup of tea as to how much we love tea :). Many people even get a headache and feel dizzy [or sleepy] if they miss the morning cup of tea. With changing times, people have realized the health benefits of consuming a particular type of tea – Green Tea, which is a hit amongst the health-conscious audience.

Image Source – Green Tea

Let’s look into some of the details about Green tea, benefits of green tea, different types of Green tea and how you can order Green tea online

What is Green Tea

Green tea originated in China and is made up of Camellia sinensis leaves that have not undergone the same withering and oxidation process used to make Oolong teas and Black teas. There are different types of Green tea and the type differs based on the production process, growing conditions, and the time when it was harvested. With so many different conditions, you can expect various types of Green tea.

Benefits of consuming Green tea

There are numerable benefits of consuming Green tea, some of which are mentioned below

  • Green tea is an excellent source of anti-oxidant.
  • It burns the extra-fat in your body. If you are planning to adopt a healthy lifestyle, consuming Green tea should be the first thing on the list.
  • It helps in the reduction of high blood pressure chances and in the process, prolongs your life.
  • It helps in lowering the stress on brain power and also protects your lungs.
  • It keeps your teeth safe from tooth decay and also cures bad breath.
  • Stress, anxiety, and depression are on the rise, especially in urban citizens. Consumption of Green tea helps in fighting depression.
  • Green tea also improves the health of your skin and fights other skin allergies.
  • It helps in keeping a check on blood-sugar levels.
  • Consumption of Green tea lowers the risk of Alzheimer’s and Parkinson’s.
  • With so many advantages of Green tea, it can be wise to mention that it improves the immunity level of your body against illnesses.

Green tea is considered a healthy drink to consume since its major contents are bioactive compounds that improve many aspects of your health. Epigallocatechin Gallate [EGCG] is the most important ingredient in Green tea that plays a major role in fighting diseases, maintaining better immunity when consumed in the right quantity. There are so many anti-oxidants in Green tea that it can help in the elimination of dark circles, reduce aging effects, etc. With so many benefits, many ladies consume Green tea in order to look pretty 🙂

Types of Green tea

  • Green tea comes in different flavors and you can opt for a flavor as per your liking
  • Lemon Ginger
  • Lemon Honey
  • Mint, Lemon & Honey
  • Barnesbeg Green tea – cultivated without the use of chemical fertilizers and has no side effects on your health.

Where to buy Green tea

You can buy Green tea from the nearby supermarket, or you can buy Green tea online from a trusted company like Goodricke that has been in the business for many years. Goodricke also has a wide variety of Darjeeling tea, which is also a very good option. On Goodricke, you can opt for your favorite Lemon tea so that you can consume healthy tea and compliment its results with intensive work out!

|In: General|Last Updated: | 0 Comments

Water is considered one of the most critical resources on earth and none of the living beings – human beings, animals, plants, etc. can survive without water. 70% of our body is composed of water and according to The USGS Water Science School, 71% of the earth is water. The bad part is that with each passing day, the drinking water coming from the taps in our homes is becoming more & more contaminated and is no longer considered safe for direct consumption.

Image Source – Water

Much of this can be attributed to the rapid industrialization and urbanization that is making the water impure. Though this is a worrying situation, people can make use of water filter or water purifier [either UV water purifier or RO water purifier] to ensure that they consume pure & safe drinking water.

Today we have a look at the top reasons ‘Why you should have a water purifier at home/office‘

No chances of water-borne diseases

?The chance of getting affected by any water-borne diseases like Cholera, Typhoid, etc. is very rare or minimal if you if you consume water from an RO or UV water purifier. As per a report, contaminated water kills 1 every 4 hours and hence, it is recommended that you do not fall prey to these water-borne diseases.

Reduction in Chlorine Levels

Chlorination of water is one of the mechanisms to kill germs, but consumption of chlorinated water can have serious implications, some of them are mentioned below

  • Cancer risk
  • Birth defects
  • Asthma

Reduction in Total Dissolved Solids [TDS] levels for safe water consumption

Based on some studies, water with TDS above 500 mg/L is considered unsafe for direct consumption. Usage of Livpure water purifier can help in the reduction of hardness and TDS levels making it safe for consumption.

Lower chances of Cancer

Cancer is considered as one of the most deadly diseases and one of the factors that cause cancer is drinking water with harmful chemicals. Though the healthcare department stresses on having pure water, many families ignore the warnings and consume such water. Purifying water using RO or UV water purifiers helps in eliminating these toxic materials so that you and your loved ones are safe from a disease like cancer.

Improvement in water flavor

How many times have you heard from someone that flavor of water from your house is different from the taste/flavor that you get from drinking water you get at railways stations/bus stands. There is a high possibility that the water you consumed at these places might not be completely pure and hence there is a huge variance in the taste of the water. Water purifiers play a big role in improving the flavor of the water by removing the bacteria and other contaminants from it so that you feel good when you consume the water.

We are sure that these are some of the compelling reasons to buy a water purifier for your home. As far as the technologies used in water purification are considered, there is Reverse Osmosis [RO] technology and the Ultraviolet Rays Purification [UV] technology that is used by known brands like LivPure, a market leader in water purifiers sector. In case you using a water purifier at home, please leave your thoughts in the comments section…

|In: Technology|Last Updated: | 0 Comments

To foster technology-led innovation to address societal challenges, Microsoft India is supporting NITI Aayog in MoveHack, a global mobility hackathon inviting solutions, prototypes and ideas to address challenges faced by India in mobility and transportation. As cloud partner for the hackathon, Microsoft will offer Azure cloud credits of up to USD 25,000 to winners who build B2B solutions, in addition to USD 200 worth of Azure credits to every participant. According to NITI Aayog, the hackathon, which was launched on 1st August 2018, has received more than 35,000 registrations so far from over 25 countries.

Additionally, Microsoft Research [MSR] India will consider incubating and offer funding and/or resource support to winners who leverage AI to build their solutions. This will be a part of a new incubation program started by MSR, wherein the organization is working with academia, government and entrepreneurs to help incubate technologies for societal impact, with special emphasis on cloud and AI platforms.  Funding will be determined individually for each project that meets the selection criteria; based on the scope of the project and associated resource requirements.

Speaking on this, Ms. Anna Roy, Adviser, NITI Aayog, said

MoveHack is a unique opportunity for the best minds from across the globe to tackle challenges in mobility and transportation that India offers. We have tied up with Smart Cities, Central and State Ministries to implement the best solutions from this hackathon, in addition to opening up our ecosystem for commercialization of these products / prototypes. MoveHack is a one of its kind challenge to solve for India, and as an extension, solve for the world. We appreciate the partnership with Microsoft.

Commenting on the partnership, Keshav Dhakad, Group Head & Assistant General Counsel, Corporate, External & Legal Affairs [CELA], Microsoft India, said

It is our privilege to be part of MoveHack. The entire country is going through a disruptive phase of digital transformation, with AI being integral to India’s economic and societal progress. Through our partnership with NITI Aayog, we collectively aim to enable the resolution of most pressing social challenges via large scale deployment of cloud & AI led innovations. Our support to MoveHack is part of this collaboration and we believe that solutions incubated through this program will contribute to the nation’s transformation in a meaningful way.

NITI Aayog’s MoveHack is a global mobility hackathon which invites innovative, dynamic and scalable solutions improve to mobility and transportation in India. Open to participants of all nationalities, it is divided into two categories: Just Code It and Just Solve It. While the former is focused at solutions based on innovations in technology/product/software and data analysis, the latter is for innovative business ideas or sustainable solutions to transform mobility infrastructure through technology.

Awards for the hackathon include recognizing the top 10 winners with a total prize of more than INR 2 crore. In addition, what sets this hackathon apart is the unique opportunity it provides for end-to-end integration of solutions in smart cities, States and Central Ministries through commercial implementation. Problem themes include multi-modal commuter mobility in cities, multi-modal freight handling and transportation, road safety and future of mobility, among others.

|In: Finance|Last Updated: | 0 Comments

Road accidents are tragic. Even thinking of one paints a grim picture. A car accident can be damaging to the car, person driving, people seated inside, other vehicles, their passengers, people on the road, and someone else’s property. There can be loss of life as well. Due to such a devastating impact, it is advisable to purchase an extensive car insurance policy. It can secure you from facing financial losses in case of unfortunate events such as a car accident.

Image Source – Car Insurance

However, your car insurance policy coverage will determine whether you will be compensated for the financial loss or not. Read ahead to know details about policy coverage.

Third-party Car Insurance Policy Coverage

If you want to drive a vehicle legally in India, it is mandatory to purchase at least a Third-party Car Insurance Policy. This compulsion is mainly directed towards protecting financial interests of those affected by your car. This policy also covers damages to the car owner/driver up to an extent. However, this policy will not cover damages to your car.

Example – Your car is involved in an accident where you injure a person walking on the road, damage your car’s bumper and cause an injury to self. Under a Third-party Car Insurance policy, damages to the third person and injury to self shall be covered. But the damage to your car bumper will not be covered.

Comprehensive Car Insurance Policy Coverage

Going for a Comprehensive Car Insurance Policy is a good way to ensure that your financial interests are taken care of in case of a car accidents. Considering the above benefit, the damages to your car will also be covered if you have this cover. Comprehensive policy is meant to insure your vehicle from accidents, theft, and damage due to calamities. It includes the mandatory Third-party Liability cover and also covers injury to owner/driver.

Add-on Coverage

Another advantage with a Comprehensive Car Insurance Policy is that you can strengthen it by opting for suitable Add-on covers such as Zero Depreciation, Roadside Assistance, etc. Your coverage will be enhanced if you opt for Add-ons. For example, a Personal Accident Cover might come in handy if you have sustained several injuries due to the car’s accident.

Car Insurance Claim

Your insurance company will check your policy’s coverage when you apply for a car insurance claim. The policy’s insurance coverage will determine the extent of compensation you shall receive in case of unfortunate events such as an accident. The general process in case of car insurance is as follows:

  • Apply for a claim
  • The insurance company shall assign a surveyor
  • The claim is either approved or rejected based on the surveyor’s report
  • If approved, claim shall be cashless or reimbursed later

Choosing The Right Policy

If you only have a Third-party Liability policy, the insurance company will not be able to provide you any compensation for damages to your car. Choosing the right policy is important if you want adequate coverage for your car. Thus, consider your exposure to risk, your locality’s vulnerability to calamities and theft, the traffic in your area, your daily route, the people you travel with, the value of accessories in your car, etc. before purchasing car insurance. Research well and purchase a car insurance policy that meets your requirements.

Buying a car insurance policy is absolutely easy. You just have to visit your preferred insurance provider’s website and purchase it from there. The process doesn’t differ much from the one that is followed while purchasing items from popular E-commerce websites. Please check your policy’s inclusions and exclusions before purchasing a policy. Once you make the payment, your policy will be emailed in your inbox within minutes. Make sure to keep a hard copy of your insurance policy in your car and always drive safely.