Loan Moratorium Latest News: Money relief! Diwali gift from Modi government



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Loan Moratorium Latest News:It’s a big money relief to loan borrowers from Modi government amid the pandemic. In a big development, the Reserve Bank of India (RBI) has notified the Centre’s scheme for ex-gratia payment of difference between interest on loans of up to Rs 2 crore – waiver of interest on interest scheme.

The Reserve Bank on Tuesday asked all lending institutions, including non-banking financial companies, to implement the waiver of interest on interest for loans up to Rs 2 crore for the six months moratorium period beginning March 1, 2020.

“All lending institutions are advised to be guided by the provisions of the Scheme and take necessary action within the stipulated timeline,” the RBI said in a notification.

Amount to be credited before this date

-The government had asked the lending institutions to complete the exercise of crediting the amount in the accounts of borrowers by November 5.

– As per the scheme, the lending institutions shall credit the difference between compound interest and simple interest with regard to the eligible borrowers in respective accounts for the said period irrespective of whether the borrower fully or partially availed the moratorium on repayment of loan announced by the RBI on March 27, 2020.

– The lending institutions after crediting the amount will claim the reimbursement from the central government.

Grant of ex-gratia payment

-On October 23, the government had announced the scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts.

-The scheme mandates ex-gratia payment to certain categories of borrowers by way of crediting the difference between simple interest and compound interest for the period between March 1, 2020 to August 31, 2020 by respective lending institutions.

Who all are eligible?

-Housing loans, education loans, credit card dues, auto loans, MSME loans, consumer durable loans and consumption loans are covered under the scheme.

– The scheme is also applicable on those who have not availed the moratorium scheme and continued with the repayment of loans.

The RBI had announced a moratorium on repayment of debt for six months beginning March 1, 2020 to help businesses and individuals tide over the financial problems on account of disruption in normal business activities.

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A perfect birthday gift for Chicago’s year-old Invest South/West program? Money | Editorial

There are reasons to be encouraged and, yet, concerned as one of Mayor Lori Lightfoot’s marquee initiatives, a $750 million plan to reinvigorate long-disinvested South and West side retail corridors, turns a year old this week.

Chicago’s Invest South/West program, set to run three years, has started to bear fruit, as Lightfoot touted in a news conference Monday in North Lawndale. She said a $70 million infusion of public funds into targeted communities has attracted $300 million in private and philanthropic capital.

That kind of investment has been sorely needed for decades in North Lawndale, Roseland and eight other neighborhoods that are the program’s focus.

But if Invest South/West is indeed that successful and can leverage a financial return that large — and that quickly — why not give it some sort of increase in the 2021 city budget now being proposed by the Lightfoot administration?

The program gets no additional city funding, only the original $750 million committed last year. Those funds were set aside before the severe economic downturn caused by the pandemic. They also were set aside before growing calls, in the wake of last summer’s George Floyd protests, for more equitable public spending and programming to help financially-imperiled areas of the city.

If Lightfoot’s budget is designed, as advertised, to address the new realities of our day by rightfully increasing spending on health care, mental health and violence prevention, it follows that more money should be put into Invest South/West.

Because the need to rebuild Chicago’s West and South sides is as real as it gets.

Send letters to letters@suntimes.com.

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Abigail Urquidi selling jewelry to raise money for harp



a person standing in front of a store: Abigail Urquidi runs a jewelry stand named Desert Fox Jewelry.


© Las Cruces Sun-News
Abigail Urquidi runs a jewelry stand named Desert Fox Jewelry.

Editor’s Note: Each month, the Sun-News is spotlighting a youth entrepreneur participating in the Cruces Kids Can – Jr. Vendor Program, a project meant to inspire and equip the youngest business people. Students’ participation entails showcasing and selling their goods from 8:30 a.m. to 1 p.m. Saturdays at the Farmers & Crafts Market of Las Cruces in the city’s downtown.

Abigail Urquidi

Grade: Seventh grade at Zia Middle School

Business: Desert Fox Jewelry

Contact info: desertfoxjewelry34@gmail.com or https://desert-fox-jewelry.square.site/

Urquidi, 12, designs all her own products, made of glass or stone beads and charms. Each piece can take from 15 minutes to a couple of hours to complete.

“I love jewelry and wanted to make some for myself, so I started making earrings from glass and stone beads,” she said. “Then I learned how to make necklaces, bracelets, keychains, and most recently I have been making beaded bookmarks.



a necklace on a table: Abigail Urquidi runs a jewelry stand named Desert Fox Jewelry.


© Las Cruces Sun-News
Abigail Urquidi runs a jewelry stand named Desert Fox Jewelry.

Each piece can take from 15 minutes to a couple of hours to complete.

“I start by finding a charm, pendant or nice beads. Then I decide which beads will go best together to make a good pattern,” Urquidi said. “I lay them out so that I know what the finished product will look like. I cut wire to the correct length, bead the beads onto the wire, and then attach charms or clasps to finish the piece.”

The prices vary depending on the material used. Generally, earrings and bracelets are about $6, bookmarks are $12 to $15, keychains $5, and necklaces may range from $20 to $30.

“My favorite part about being a Jr. Vendor is interacting with new people. The Junior Vendor program is also helping me learn business skills that will help me grow my business,” Urquidi said.

“I decided to sell my products so that I can save toward purchasing a full-sized harp. I play the harp, but I need a pedal harp to play concert pieces,” she said.

CAASNM has monthly L.E.A.D labs every third Thursday to current and new Jr. Vendors and anyone else in the community who wishes to learn more about the Kids Can program. 

More youth entrepreneurs:

This article originally appeared on Las Cruces Sun-News: Youth entrepreneur: Abigail Urquidi selling jewelry to raise money for harp

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20 Beauty Boxes That Are Genuinely Great Value for Money

Though this year we were forced to put our social lives on pause, it seems our love for beauty and skincare never wavered. Who could predict Zoom make-up would become a thing? And, let’s face it, now more than ever feels like a time to treat yourself to products that make you feel a little more like pre-2020 you. As I tell myself, it’s self-care.

Beauty boxes are a great way to experiment with new products at home (and when WFH). It also feels like Christmas when they arrive in the post. In the age of ‘makeup haul’ videos and social media makeup stars, beauty boxes are a clear response to our ever-growing desire to get *really* good at makeup and even better at understanding what works on our skin and hair. While you can of course buy them for yourself, they also make exceptionally great Christmas presents. 

So which to buy? Some cater for those who are more sustainable-focused, while others are topped up with the most premium skincare available on the market. It’s worth remembering that beauty boxes can offer you a saving (well, kinda). The best boxes offer full-sized products at a fraction of the price. So, by effectively buying bulk you get a sweet deal. Well, that’s what I like to tell my self. Keep scrolling to see all the ones we rate. 

Sisley Ecological Compound Essential Gift Set (£245)

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Investment industry urged to promote more black women | Money

The investment industry is being urged to promote more black women and build anti-racist investment portfolios in order to tackle systemic discrimination in the sector. Less than 1% of investment managers are black.

Black Women in Asset Management (BWAM) – a group of 300 industry professionals in England and Wales – has written to investment firms asking them to go beyond “solidarity statements” with the black community, following Black Lives Matter protests sparked by police violence and the killing of George Floyd in the US in May.

BWAM – which was formed in 2019 and includes investment professionals, lawyers, consultants, administrators and advisers – said the industry had primarily focused on increasing the number of women in the sector. “This agenda, however, has largely excluded black women. Racial issues are often perceived as too abstract, polarising, or political,” the open letter read.

It is now urging companies to take five broad actions, including: expanding the pipeline of young black women entering investment careers, promoting black women to senior leadership roles, and ensuring company investments do not disadvantage black communities.

A report released last year by the Investment Association industry body found that fewer than 1% of investment managers were black, despite making up 3% of the UK population and more than 13% of the population in London, where most of the UK’s asset management firms are based.

The letter said firms needed to create apprenticeships, given that the rising costs of university can deter students from diverse backgrounds, and recruit junior staff based on “more than just the traditional markers of success, which are often biased”. The group recommends looking at the circumstances that led to the student’s grades, university acceptance or work experience when hiring.

“Also, recruit from schools beyond the Oxbridge and redbrick universities and consider the promising students at other schools,” the letter said. Once hired, black women should also be offered tailored progress plans that include coaching and mentorships that would give them a fairer chance at reaching senior leadership roles, BWAM said.

It is also asking firms to build “anti-racist” portfolios by setting metrics to measure companies’ commitments to racial diversity and their impact on black populations. That will also involve divesting from firms that benefit from business models that perpetuate racial inequalities or target vulnerable communities such as prison labour, immigration detention or surveillance technology.

“Investment firms have been slow to see racism as a serious investment risk,” said Jacqueline Taiwo, co-founder of BWAM and associate general counsel at the investment firm TowerBrook Capital Partners. “Our letter sets out actions I believe will lead to progress and give black women a greater voice in shaping investment decisions.”

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Karis Stander, who works for the Investment Association’s careers service Investment 20/20, said: “The industry is already taking steps in the right direction, through Investment 20/20 we’ve seen almost 150 black young people take part in our one-year trainee programme and

bKash offers Tk 100 cashback, coupon for new Add Money users

They will also get a Tk 100 coupon to make payment at any Pizza Hut or KFC outlet.

The customers will get the money back and the coupon the next working day after successful transaction of Tk 1,000 or more from bank cards or accounts on the bKash app.

They can take the offer once during the campaign period between Oct 15 and Nov 30, 2020.

Using the coupon, a customer can make payment at any Pizza Hut or KFC outlet and redeem Tk 100. The minimum payment amount should be Tk 300 to redeem the coupon and a customer has to use it within 15 days after receiving the coupon.

bKash launched Add Money service last year which enabled the users to bring money to their bKash account easily from their bank accounts and cards.

This service helped customers greatly during the coronavirus lockdown as they faced difficulties to make transaction through bank counters during the time.

Besides doing bank transactions from home, customers can also avail a wide range of other bKash services like mobile recharge, send money, make payment, pay bill, and online shopping that ensured contactless transaction.

As many as 20 banks of the country have been included in the Add Money network of bKash until now.

Customers can also add money to their bKash account from Visa and MasterCard.

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On the money: How 3 women of color overcame a broken system and made history in Congress

When Congress welcomed a record number of women in 2018, the triumph was attributed to wins in the Democratic Party. It was also a year of historic firsts for Democratic women of color.

Rep. Veronica Escobar, one of the first Latinas to represent Texas in Congress, told ABC News that 2018 was a “watershed year” because women “know what’s at stake.”

The 116th class became the most diverse group of lawmakers in U.S. history and 2018 was dubbed “the year of the woman.”

On election day, 115 women of color will be on the ballot for House seats — a record for American politics. Deborah Roberts spoke with 8 of those women across the aisle in a roundtable discussion.

“2018 is the year that many, many women, and especially women of color, not only broke a ceiling … [but] broke a concrete ceiling,” Minnesota Rep. Ilhan Omar, one of only two Muslim women in Congress, told ABC News. “We sort of shattered the perception of what it meant to run and who in politics can be a successful candidate.”

“There’s people who maybe never thought they would see someone who looked like them having a seat in Congress,” New Mexico Rep. Deb Haaland told “Good Morning America.” “I wore my native dress … my pueblo clothing on swearing-in day. I just felt like I needed to express the honor I have for my family.”

As of 2020, only 75 women of color have served in the U.S. House of Representatives: 71 Democrats and four Republicans. Five women of color, all Democrats, have ever served in the Senate.

According to Kelly Dittmar, director of research at Rutgers University’s Center for American Women and Politics, “The fact that it’s 2020 and we’re still celebrating those firsts [is] reflective of the progress left to make.”

Escobar, Haaland and Omar said money largely keeps women of color out of politics. These three women — all first-time candidates for Congress in 2018 who prevailed in competitive primaries — shared lessons on what it takes to level the playing field.

Women of color are often discouraged from running for politics because they don’t have war chests that rival their male counterparts.

Tap into and build networks of support

Before she ran for Congress, Escobar had deep roots in her community, where she served as a county judge from 2011-2017.

In the 2018

The Fed Model And The Money Illusion

There are well-dressed foolish ideas just as there are well-dressed fools. – Nicolas Chamfort

Magic, or conjuring, is the art of entertaining an audience by performing illusions that baffle and amaze, often by giving the impression that something impossible has been achieved, as if the performer had supernatural powers. Practitioners of this art are called magicians, conjurors or illusionists. Specifically, optical illusions are tricks that fool your eyes. Most magic tricks that fall into the category of optical illusions work by fooling both the brain and the eyes together at the same time.

Fortunately, most optical illusions don’t cost the participants anything, except perhaps some embarrassment at being fooled. However, basing investment strategies on illusions can lead investors to make all kinds of mistakes.

There are many illusions in the world of investing. The process known as data mining – torturing the data until it confesses – creates many of them. Unfortunately, identifying patterns that worked in the past doesn’t necessarily provide you with any useful information about stock price movements in the future. As Andrew Lo, a finance professor at MIT, points out:

“Given enough time, enough attempts, and enough imagination, almost any pattern can be teased out of any data set.”1

The stock and bond markets are filled with wrongheaded data mining. David Leinweber, of First Quadrant Corp., famously illustrated this point with what he called “stupid data miner tricks.” Leinweber sifted through a United Nations CD-ROM and discovered the single best predictor of the S&P 500 Index had been butter production in Bangladesh.2 His example is a perfect illustration that the mere existence of a correlation doesn’t necessarily give it predictive value. Some logical reason for the correlation to exist is required for it to have credibility. For example, there is a strong and logical correlation between the level of economic activity and the level of interest rates. As economic activity increases, the demand for money, and, therefore, its price (interest rates), also increases.

An illusion with great potential for creating investment mistakes is known as the “money illusion.” The reason it has such potential for creating mistakes is it relates to one of the most popular indicators used by investors to determine if the market is under- or overvalued, what is known as The Fed Model.

The Fed Model

In 1997, in his monetary policy report to Congress, Federal Reserve Chairman Alan Greenspan indicated that changes in the ratio of prices in the S&P 500 to consensus estimates of earnings over the coming 12 months have often been inversely related to changes in long-term Treasury yields.3 Following this report, Edward Yardeni, at the time a market strategist for Morgan Grenfell, speculated that the Federal Reserve was using a model to determine if the market was fairly valued – how attractive stocks were priced relative to bonds. The model, despite no acknowledgment of its use by the Fed, became known as the Fed Model.

Using the “logic” that bonds and stocks are

5 Ways Chase Cards Can Save You Money on Holiday Shopping

Chase cards have several features that can save you big bucks over the holidays, from impressive bonuses to lengthy zero-interest offers.

If you want to keep your holiday spending under control, the right Chase credit card could be exactly what you need. Depending on which card you use, you could get rewards on all your purchases, ample time to pay off your holiday expenses interest-free, and bonuses worth hundreds of dollars.

All you need to do is figure out which offers will be the most valuable for you. To help with that, we’ll go over all the best Chase card offers that can save you money on your holiday shopping.

1. $200 back on your first $500 in purchases

Two Chase cards, the Chase Freedom Flex℠ and the Chase Freedom Unlimited®, offer sign-up bonuses of $200 after you spend $500 on purchases within three months. That’s like getting 40% cash back on the first $500 that you spend.

Not only is this bonus extremely easy to get, it’s also valuable. If you spend $500 or more on holiday gifts, your Chase bonus will save you $200. Even if you don’t spend that much on gifts, you can use your card for other expenses to hit that spending minimum.

2. No interest for 15 months

If you’re a bit short on cash and you want to pay off your holiday shopping over several months, a credit card with a 0% intro APR on purchases is a smart choice. With this type of card, you’re not charged interest on your balance during the intro period.

The two Chase cards mentioned above (the Chase Freedom Flex℠ and the Chase Freedom Unlimited®) also offer 0% intro APRs on purchases for the first 15 months. In addition to scoring a $200 bonus, you could avoid any interest charges if you get your balance paid off within 15 months.

Now, it’s typically a better approach to only make purchases you can pay off in full. But if you’re going to finance any holiday spending, you should use a card with a zero-interest offer.

3. 5% back at Walmart

A special feature of the Chase Freedom Flex℠ and the now-discontinued Chase Freedom® credit card is their rotating bonus categories. If you have either card, you’ll earn 5% back on up to $1,500 of purchases in those rotating bonus categories every quarter that you activate.

From October through December of this year, the bonus categories are Walmart and PayPal purchases.

Walmart, in particular, is an excellent bonus category for the holiday season. You’ll get 5% back on all your gift shopping, both in stores and online. If you spent $1,000 on gifts at Walmart, you’d earn $50 back.

4. 5% back at Amazon and a $100 gift card

Chase’s Amazon Prime Rewards Visa Signature Card is perfect for those who plan to shop for holiday gifts at Amazon.

As soon as you’re approved, a $100 Amazon gift card will be loaded to your account. Your first $100 in

Tech startups run by women of color need funding, money, investments

  • What women of color don’t need is another white person saying “Yes, Black Lives Matter” or “our company rejects racism.” What we need is more investors willing to ask: what can I do to change the system?
  • Dedicating 15% of a venture fund is a platitude, a pat on the head, particularly when you consider that 46% of the country are people of color.
  • This current environment also stifles economic growth and chokes off the true innovation we need.
  • Stephanie Lee is a former staffer to former First Lady Michelle Obama and former product developer at the global brand, MAC Cosmetics.
  • This is an opinion column. The thoughts expressed are those of the author.
  • Visit Business Insider’s homepage for more stories.

Too many women of color are being asked to prove first that our ideas are worthy of investment, while white founders get the benefit of the doubt over and over again. 

What we don’t need is another white person saying “Yes, Black Lives Matter” or “our company rejects racism.” What we do need is more investors willing to ask: what can I do to change the way things are actually run? 

Though the access to investments are especially limited for women of color, female founders in general face challenges that men don’t. A new report on fundraising for women-led startups bears this out. The survey highlights the bias women founders experience, which ironically starts with their pitch decks. 

The study exposes that women-led teams raised 30% less after engaging with investors 23% more than all-male teams. All-male teams also received $18,000 more in investments per meeting. Worse, there were zero — that’s right, zero — all female teams at the series A level — or the first venture capital funding for a startup outside of soliciting funding from friends and family — of investment in the study. All of this points to a dissonance between the makeup of the investment world and the consumers they want to serve. 

Despite these biases, women were the leading force driving the 2008 recession recovery. A 2017 American Express survey found a 164% increase in the rate of Black woman-owned business creation from 2007. The Kauffman Foundation also found that between 2014 and 2019, the number of women-owned businesses grew by 21%, while the number of women of color firms doubled that rate at 43%. Fast Company recently found women-owned businesses boosted job creation at almost seven times the rate of all businesses, and fueled several years of economic expansion.

That same study found that venture capital investment in all-female founding teams hit $3.3 billion, but that only represents 2.8% of capital invested across the entire US startup ecosystem. It also found that fewer than 10% of decision-makers at American venture capital firms are women. 

Those stats smack you in the face when you are a BIWOC (Black, indigenous, or woman of color) trying to raise capital for a brand that is being built with the very intention of serving your peers.

Venture