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Follow these 5 ways to make more money in this financial year

The starting of the financial year is the best time to review your financial planning. If you want to make more money in this financial year 2020 then you must follow these five easy ways.

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5 ways to make more money this financial year | Photo Credit: BCCL

New Delhi: The starting of the financial year is the best time to review your financial planning. Apart from the saving, planning, investing and reshuffling the portfolio, there are some tips which can help you grow your wealth. Earning a high salary is not enough to make money. It is essential to make a proper plan and track your income and expenditure.

Financial planning should involve taxes, deductions, loans, EMI, budget, earnings, income, etc. To lead a financially fit life one must plan accordingly. You should be careful enough before investing your hard earned money.

Five ways to make more money-

In the first month of the new financial year, people should start planning for the taxes. Most of people complete this task at the end of the financial year. Planning in advance lets you know about tax saving instruments.
Insurance plans should not be bought blindly. Look for an insurance cover which is capable to cater your future needs and lifestyle. Seeing your financial commitments and dependents from your family determine the right amount of insurance amount. You can even take the financial advisor’s help to choose the right plan and cover.
It is advisable to review your investments from time to time. If you find out that some specific investment plan is not performing well, then do not shy away from switching it to another plan. Always look at the five to six years of return history before making investments. Try to make a plan and explore new funds after reviewing their returns in the past.
Always keep a check on your cash flow. Track your income and expenditure and ensure that your expense should not be more than your income. Cut down on your extra and unnecessary expenses and invest that amount in your emergency fund. A contingency fund comes in handy during the financial crisis. It ensures cash in hand at the time of urgent need.
Do not get lured by the idea of making more money. Before you invest your hard earned money make sure that the option is not risky. If you do not understand any particular scheme then sought the financial advisor’s help. Try to avoid putting your money into those funds or options which you do not understand.

[“source=timesnownews”]

Despite Money Tap Dent, Ripple (XRP) Buy Wave is Strong

Resona Bank is pulling out of Money Tap initiatives, a project fronted by SBI Group. All the same, prices are stable above 32 cents, reversing from Apr-2 lows and with increasing momentum, may close above 34 cents as bulls shore prices.

Ripple Price Analysis

Fundamentals

At core, Ripple is a network that seeks to provide banks with an alternative messaging and settlement system that is fast, secure and beneficial for the end user. It may be less than a decade in operation, but the team behind the platform are putting forth powerful solutions that invert interest, prioritizing the consumer via incentives as speed and costs.

Although the native currency in XRP is bogged down by uncertainty, the SEC framework clarifying what an investment contract is from a utility would shed some light, allowing payment processors as well as banks to upgrade to xCurrent 4.0 which has a wriggling ground for banks to incorporate xRapid for their operations.

Latest news is that Resona Bank, one of the few financial institutions that had joined the Money Tapinitiative fronted by SBI Group, is the first to discontinue from this novel arrangement. Ahead of the Tokyo Olympics in 2020, the effort “is a safe, real-time and comfortable app that allows users to transfer money between individuals directly and can deposit money directly from a bank to a bank account 24 hours a day, 365 days a year.”

Candlestick Arrangement

On to the charts and Ripple (XRP) is reacting from Apr 2 lows of around 32 cents. From an effort versus result point of view, this is bullish and to that end, we expect prices to inch higher as momentum builds up thanks mainly to the correction of undervaluation clear in the 1-HR chart.

Since we now have a long lower wick and prices finding support from Apr-2 trendsetting bull bar, every dip should be a buying opportunity.

Nonetheless and despite our optimism, conservative, risk-off traders must wait for a strong, high-volume press above Apr-5 highs of 38 cents or even 40 cents before loading up. As per our emphasis, our ideal target lies at 40 cents and later 60 cents.

Technical Indicator

Our anchor bar is Apr-2 with 79 million. As aforementioned, any bar breaking above Apr-5 highs signaling trend continuation must be with high volumes exceeding recent averages of 44 million or even 79 million.

[“source=newsbtc”]

How blockchain helps move money internationally like you send emails

We want to move money around the world like information moves today. We should be able to send money the way we are able to send emails and WhatsApp messages. When I say money, I mean legal money which is fully authenticated, regulated and controlled,” Navin Gupta, managing director of South Asia and the MENA (Middle East and North Africa) region for Ripple, a provider of leading enterprise blockchain solutions for payments, said at the Mint Digital Innovation Summit held in Bengaluru on 15 March. He was speaking on “Understanding Blockchain’s Impact on Payments”.

It is estimated that today the world sends more than $155 trillion across borders. Yet, the underlying infrastructure is dated and flawed. This is where Ripple with its blockchain technology connects banks, payment providers and digital asset exchanges to provide a seamless experience to send money globally. More than 200 institutions are using the blockchain technology built by Ripple to transact daily, Gupta claims. “In India, banks like Axis and Yes Bank are using our technology to process their customers’ payments anywhere in the world. We live in 40 corridors and 6 continents, besides having offices in 8 countries,” said Gupta.

Blockchain has advantages because it is open source, decentralized, reliable and trusted, Gupta said. The cost of transaction is consistent—there is no fee or timing loss and it is scalable. There are no physical assets and enterprises that leverage Ripple’s digital asset XRP (cryptocurrency used by the Ripple payment network) when sending payments on behalf of customers. Using XRP for liquidity when sending a cross-border payment helps financial institutions avoid the hassle of pre-funding accounts in destination currencies. It allows them to make faster, lower cost payments than they can through the traditional correspondent banking system. Banks can now help global companies send on-demand payments around the world without fail. There is an opportunity to “secure a greater share of cross-border payments volume”, said Gupta.

Ripple also helps bank customers send money to people in many emerging markets including Mexico, India, and Thailand to increase their share of “this large and growing market”. What’s next? “Ripple is moving beyond blockchain, and connecting networks so that we can move money across networks. Again this is open-source and lightweight so it becomes easy to transfer money across networks. So we are building the ecosystem for networks to connect with each other and in our view globalization will be completed when data, goods and money flow seamlessly. That’s the way we think of it as an internet of value when the whole world gets connected through payment systems,” Gupta said.

[“source=livemint”]

Centre justifies certification of Finance Bill, 2017 as money bill; SC reserves verdict

NEW DELHI: The Centre on Tuesday in the Supreme Court justified certification of Finance Bill, 2017 as a money bill saying it has provisions which deals with salaries and allowance to be paid to members of tribunals from the consolidated funds of India.

The top court reserved its verdict on a batch of pleas challenging the constitutional validity of Finance Act, 2017 on the ground that it was passed by the Parliament as a money bill.

The Centre contended that certification of Finance Act as money bill was done by speaker of Lok Sabha and court cannot judicially review the decision.

A five-judge Constitution bench headed by Chief Justice Ranjan Gogoi said, “Hearing concluded. Order reserved”.

At the outset, Attorney General K K Venugopal, appearing for the Centre said that certification granted by the speaker cannot be challenged in the court of law.

The Attorney General justified before the bench also comprising Justices N V Ramana, D Y Chandrachud, Deepak Gupta and Sanjiv Khanna the certification of Finance Act as a money bill saying it deals with payment and receipt made from the consolidated funds of India.

“It is the whole part which has been certified as a money bill and not in parts. Therefore no part can be severed to say that this cannot be called as a money bill,” Venugopal said.

He referred to provision for money spent on tribunals from the consolidated funds and said salaries and allowances of tribunal members would come under incidental matters referred in the Article 110 (1)(G) of the Constitution.

Article 110 of the Constitution deals with provisions as when can a Bill shall be deemed to be a Money Bill.

Venugopal relied on Aadhaar verdict of last year and said that the apex court has held that the main object of Aadhaar Act was to extend benefits to marginalised section of society in the form of aid, grant or subsidy from the consolidated fund.

Senior advocate Arvind Datar, who led the arguments for the petitioners, argued that a bill which says that salaries shall be paid to the members of tribunal does not in itself make it a money bill.

He sought making the tribunals independent saying their core judicial duty cannot be taken away or at least they can be brought under the control of law ministry or one nodal agency as held in 1997 and 2010 verdicts of the apex court.

The top court was hearing a batch of petitions challenging the Constitutional validity of the Finance Bill of 2017.

On March 28, the Centre has told the apex court that it cannot question the speaker’s decision of certifying a bill as a Money Bill and it is a well settled law.

Venugopal said contention that certification of Finance Bill of 2017 as Money Bill was not right cannot be a ground for a challenge to validity of the Bill.

He had said that apex court has repeatedly held in its verdicts that certification cannot be questioned and courts cannot inquire into the decision taken by Parliament.

Venugopal had said Finance Bill comprises of amendments to several Acts and statutes and the petitioners have challenged only one particular aspect saying it cannot be termed as Money Bill.

The apex court had earlier sought the Centre’s view on bringing all the tribunals under one central umbrella body for ensuring “efficient functioning” and “streamlining the working” of quasi-judicial bodies.

The top court had said it would not like to be bogged down with what is right or wrong and all it wants was that “the tribunals work efficiently and independently”.

The court had said it is tentatively of the view that directions given by the apex court in its two verdicts of 1997 and 2010 for bringing all the tribunals of the country under one nodal agency should have been “implemented long back”.

[“source=economictimes.indiatimes”]