Have you ever sought a loan or applied for a credit card?

If you have, you must know that availing a credit card or a loan requires you to fulfil the eligibility parameters set by the lender. Among other eligibility criteria, one of the most important criteria is your CIBIL score based on which the loan or credit is issued.

What is CIBIL score?

CIBIL stands for Credit Information Bureau (India) Limited. CIBIL, now renamed TransUnion CIBIL, is the leading Credit Information Company in India which calculates credit scores of individuals and so the score is commonly known as CIBIL score.

CIBIL score, also called credit score popularly, is a 3-digit number which measures your creditworthiness. The score measures your ability to take credit and also to pay it off within the stipulated time without defaults.

Simply put, this score allows the lender to figure out whether you would be able to repay the loan or not. The credit score ranges between 300 and 900, and the higher the score that you have, the more favourable would be your chances of availing a loan or credit in your name.

Usually, a credit score of 750 and above is considered to be a good score. If you have a good score, your loan application would be accepted, and you would be able to avail easy credit.

On the other hand, scores below 650 or 700 are considered to be bad scores. At these scores, the loan application is either rejected or accepted with high interest rates and specific terms and conditions.

Importance of credit score

Your credit score acts as a pivot on which the availability of credit depends. For every loan application, your CIBIL score is assessed, and the loan is granted only if you have a good score. Besides the importance of loan approvals, credit score also determines the following –

• The interest rate charged by the lender
• The amount of loan you can avail
• The repayment terms of the loan

If you have a high credit score, you can negotiate a lower interest rate, opt for a high amount of loan and get favourable repayment terms from the lender.

Factors affecting credit score

Your credit score is calculated by CIBIL as well as by other Credit Information Companies based on your past credit behaviour. The score is calculated using different factors. The main factors which affect your credit score calculation are as follows –

• Repayment history
  The main factor which has a major impact on your CIBIL score is the repayment history of your past credit. If you had availed a loan in the past or have a credit card, the repayment history on the credit you availed determines a major portion of your credit score.
  If you always repaid your debt on time, your repayment history would be clean, leading to a high score. On the other hand, if you defaulted on your loans or credit card bills, your score would be low.
• Credit utilisation
  Another important factor is the amount of credit that you use against the credit limit allowed to you. This is called the credit utilisation ratio, and the lower the ratio that you have, the higher would be your score.
  In other words, if you limit your credit usage, your credit score would be high.
• Credit mix
  The type of credit that you have availed also impacts your credit score. Credit comes in two types – secured and unsecured. Unsecured loans are those that do not require collateral security while secured loans are those that do.
  Credit card and personal loans are common examples of unsecured loans while home and car loans are secured loans. If you have a good mix of secured and unsecured loans in your portfolio, your credit score would be high.
  Too many unsecured loans, on the other hand, are bad for your score and should be avoided.
• Inquiries into the score
  Every time you apply for a loan or credit, the lender makes a hard inquiry into your credit score. Each inquiry affects your score, and if there are multiple inquiries within a short period of time, your CIBIL score would be negatively impacted.

The concept of credit report

While your CIBIL score is just a numerical figure, your credit report is the total picture of your current and past credit behaviour. Your credit report contains the following information –

• Your credit score
• Your personal information like your name, PAN number, gender, date of birth, etc.
• Your contact information
• Your employment information as mentioned by banks and NBFCs
• Your account information which contains the details of your loans and credit cards
• The history of enquiries done into your credit report and by whom

How to do a CIBIL score check using your PAN?

You should check your CIBIL score regularly to ensure that it is high or to improve it if it is low for future loan applications. Checking your own credit score is called a soft enquiry and does not affect your score.

You can check your score online using your PAN number. To do so, here are the steps which you should follow –

• Visit CIBIL's official website, which is https://www.cibil.com/.
• On the website, you would find the option ‘Get your CIBIL score'. Click on it to proceed.
• A new page opens wherein the subscription plan details would be shown. Subscription to these plans helps you do your CIBIL score check unlimited times.
• If you wish to get a free credit score, CIBIL allows an annual free score and credit report. For that, you would have to register yourself with CIBIL and become a member. Use the link https://myscore.cibil.com/CreditView/enrollShort.page?enterprise=CIBIL&offer=FACRAA and register yourself for an annual free credit score and report.
• Whether you use the paid service or the free service, Under ‘ID Type' choose ‘Income Tax ID Number (PAN)'
• Provide your PAN number and all the details like your name, gender, contact information, date of birth, etc. and verify your identity.
• If you are buying the paid subscription, pay for the plan that you choose.
• After all the details have been entered, and the payment is made, your CIBIL score would be displayed, and your credit report would also be sent to your email ID.

Your credit score is an important eligibility parameter when you seek credit. The score is dynamic and keeps changing depending on your credit behaviour.

So, practice good credit behaviour to maintain your score for getting quick loan approvals. For a high credit score, you can use the following tips –

• Always repay your EMIs on time
• Make credit card bill payments in full
• Avoid too much credit especially if it is unsecured
• Do not make a lot of loan applications at once
• Pay your utility bills on time as they too impact your credit score
• Have a healthy mix of credit in your portfolio

Few simple habits and you can keep your CIBIL score high!

Understand your credit score and pay attention to it. Keep tracking it regularly so that if it falters, you can take the necessary steps to improve it before applying for loans.

Nowadays, people travel for passion. People set a vacation trip to get relief from their busy schedule. They arrange a short tour to get some relaxation from the boredom of daily routines.

But this is facing a huge setback as the Covid-19 pandemic prevails throughout the world. The moving world has come to a stark standstill. As the lockdown started, we all were bound to stay at home.

The hotels, the restaurants, the transport system – every industry faced unimaginable losses. The travel sector as a whole is faring through one of the most challenging phases it has ever seen.

However, we should all remember that whenever we feel stuck in a troublesome situation, we eventually find a way to get out of it. There's always a silver lining in any seemingly negative situation, even if it seems rather faint.

For example, as we all are staying home, our monthly expenditure has drastically reduced. Being passionate travellers, we have all tried to figure out how to save money so that we can go for a trip once the pandemic comes to an end.

Now let's take a look at some proposed steps to save money during this pandemic:

• In this lockdown, you should be careful if there is any chance to save money through your insurance policies. You should stop those policies that are not required at this point.
• You can lower your monthly recharge amount as well. Your data pack, caller pack, and other monthly packages can get reduced. If you want to create a vacation fund, you have to control these expenses.
• You can stop or cancel subscriptions that you do not watch much.
• In this lockdown period, as we all are staying home, we should lower the frequency of shopping. We should systematically create a list and go shopping once or twice a month. It is luxurious to go and shop almost every day. This unconsciousness increases our monthly expenditures.
• We can skip purchasing expensive dresses, goods, or ornaments during the pandemic so that we can create a handsome vacation fund.

In this way, we can increase our vacation fund. We need to reduce unwanted wastage of money and start thinking about how to save money.

It is always better to have a separate vacation fund. When we want to save money, we get puzzled about where to invest.

More often than not, we end up putting that money into our savings account. It generates higher chances of that money being withdrawn.

How To Invest And Where To Invest Money?

Once you get accustomed to how to save money, it is time to search for how to start investing that as well. A couple of things you should keep in mind before looking for options where to invest.

Firstly, you need to invest that money for a short period. So, do not go for long term investment policies. Secondly, as you are saving this money to have a nice vacation, you need to take fewer or zero risks while thinking of how to invest.

When you possess a handful amount of money, the first thought that comes to your mind is how to start investing. Let's take a look at the following options where to invest your savings. These are the safest and better options for your Vacation Fund.

• Low-risk debt mutual funds: If you keep your money in your savings account, there is a high possibility that you would not be able to save it. So if you have a question of where to invest money, then mutual funds are the best answer. Here, you can invest your money at minimum risk. There is also a chance of getting your capital back with some extra amount of money. Specific debt mutual funds are best suited for raising vacation funds.
• Liquid Funds: If you are looking for a short-term money deposit scheme, then you should opt for a systematic investment plan (SIP) in Liquid Funds. Investing in liquid gives you the exposure of getting a 50% higher amount of money at minimal risk. Further, if you can withdraw the money whenever you want. So, if you are searching how to save more money for your Vacation Fund, deposit your money in Liquid Funds.
• Short term funds: Here, the probability of generating higher return increases. But the risk factor increases as well. If you have guts and courage, then you can invest here. Otherwise, settle with Liquid and Ultra-low duration debt funds.

If you are still not sure about where to invest money, then look for Fixed Deposit schemes, various systematic investment policies of different banks. Check out the policies of higher interest rates.

But Mutual Fund is the best option for this purpose of generating a vacation fund. Begin the new journey in investing your savings today. It would lead to a fruitful tomorrow.

If you have grown a habit of saving money, then look for ways of how to save more money. If you have acquired a knack for investing money, then prepare for how to start investing more.

Not many people can acquire the skills of how to save money. So, if you are one of them, try to continue.

So far, we have discussed how the pandemic situation has affected the travelling industry, how people have grown interested in saving money. Saving money is a great habit to develop.

It is more effective if you start saving all around the year systematically. The more you keep for your Vacation Fund, the better you travel.

You can spend more freely during your much-awaited trip. Start saving as much as possible from today itself. Thus, enjoy your vacations with a stress-free mind.

Reading the article up to this point would raise a question in your mind. Maybe, you are someone who is not able to save or invest money in a vacation fund, whether he or she could plan for his or her dream destination in holidays.

The answer is yes! mPokket gives you assistance and assurance by providing monetary support in the form of short-term loans. mPokket is the best place where you can apply for loans easily and get benefitted from that.

So, avail yourself of the instant short-term loans offered by mPokket and travel to your much-awaited destinations. Do not waste time and check out the website of mPokket today. Get yourself available for the loans that are best suited for your purposes.

Online payments and internet banking have made life easy for customers. Users can now make basic financial transactions at their fingertips and do not need to be physically present at banks or exchange money in cash. However, users are also falling prey to various types of financial frauds. As more financial services go online, scams in the online financial industry have also increased. From email phishing to discounting scams and deceiving apps, an increasing number of people experience different types of financial fraud.

A 2019 year-end McAfee survey of more than 1,000 Indian adults showed that ~53.6% of Indians fell prey to different types of financial fraud scams from deceiving apps in the festive season. Further, 25.3% of the respondents said they were victim to email phishing and 21.1% to text phishing.

Although common, most types of financial frauds occur because users do not know how to prevent fraud. The main reason for this is the lack of awareness among users. Many unsuspecting users click on random links and entertain calls from suspicious entities, and end up losing their money. Another common problem among new users is that they do not protect their data and devices, leading to various types of financial fraud.

Let us understand the different types of financial frauds that occur around us and how to avoid being scammed online.

Most Common Scams that occur

1. Phishing: Phishing is a type of financial fraud where a fraudster attempts to steal your personal banking information like customer ID, password, debit card or credit card details via email and misuses this information. In Phishing, the fraudster may try to get you to install malware – software that can steal your data. For example, emails are sent by people who pretend to be a known or trusted source and often ask you for sensitive and personal information. In this case, you must secure your devices and only open emails from legitimate sources.
2. Smishing and Vishing: Smishing is a type of fraud that may affect mobile banking users. This happens when you receive a fake text message from the fraudster asking for your bank account details. Vishing is a fraud wherein a fraudster calls you to reveal your personal and financial information over a call. Asking for OTPs has also become a common way to fraud people.
3. Online shopping frauds: This is one of the most common among the different types of financial frauds over the past few years. Here, fraudsters make fake online shopping sites or apps and typically display products at deeply discounted rates. After you purchase a product and pay the money, either the product is not delivered at all or you receive a fake product. Apart from this, these sites neither have refund/return policies nor customer support details.
4. Lottery and quick money scams: This is also common among various financial fraud types. A lottery scam may come to you as an SMS or email informing you that you have won a humongous amount, and, to claim your winnings, you would need to pay a small fee. Many unsuspecting customers get fleeced by this and end up paying the fee, never to hear back. Many companies also swindle investors by presenting false financial statements, as evidenced by recent financial statement frauds.
5. Credit card and bank loan scams: Hard to believe credit card offers and loan offers are also widely experienced financial fraud types. Many a time, you may also get offers for credit card limit enhancements and personal loans at extremely low rates. These unrealistic offers aim to steal your credit card and banking information such as PIN, passwords, CVV, etc. and misuse it to steal money.

Best ways to avoid these scams/frauds

Now that we are acquainted with different types of financial frauds let us look at how to avoid financial scams.

1. Secure your devices: The first thing you can do to avoid being scammed online is secure your devices. Using anti-spy and anti-spam software can help filter fraudulent emails from entering your inbox. A firewall on your system can help prevent unauthorized access to your computer via malware.
2. Exercise prudence before investing/buying: Recent financial statement frauds show that people often fall prey to schemes and companies that promise unrealistic returns. However, before you invest in a company/business, ensure that you conduct proper research. Further, check the authenticity of the site/app before buying products. Once you develop the habit of researching, you will know exactly how to avoid being scammed online.
3. Red flags to look for in emails, calls, and text messages: Always check who the call/text/email is from before responding. Further, if any sensitive or personal information is requested, it's time to become suspicious!
4. Change passwords periodically: It is a good practice to change your passwords regularly. Ensure that you use a combination of letters, numbers, and special characters. Also, avoid using commonly known facts about you like your birth date as a password.
5. Do not use public computers for financial transactions: If you are wondering how to prevent fraud, this one probably tops the list. Simply avoid using public computers for financial transactions as they may be infected with a virus or malware that can steal your information. Further, someone may even be peeking at your screen while you are entering information.

Ensure that you are aware of the different financial fraud types and how to avoid getting scammed before you transact online.

h4<>CRIF Score: What Does it Mean?

CRIF score is a global credit index or score generated to denote the trustworthiness of a customer. CRIF score meaning is a three-digit score in the range between 300 and 900. A high score signifies more creditworthiness of you, and similarly, a low score represents low reliability. Usually, a CRIF credit score above 700 or 750 is a sound score. This value represents the experiences of a lender with previous credits or loans with you. If you have paid previous ones from time to time, you will eventually have a higher CRIF score. Consequently, the lender will be confident to provide you with the next one.

CRIF is an international credit bureau which is mainly dominant in Asia and Europe. Although, this company acquired High Mark in 2014, which is licensed to maintain a credit bureau in India by the Reserve Bank of India (RBI). Hence, today it is CRIF High Mark.

The CRIF score is of two types. Personal CRIF credit score is to define individual credits, while Business credit score generally signifies credit scores of commercial enterprises and corporations.

In the world of e-commerce, your CRIF score signifies much more intuitions rather than just loan repayment. Often, Insuring agencies look for credit scores to determine the premiums. Sometimes, landlords use this score too to decide whom to lend. So, the CRIF score is more of a commercial tool to denote your worthiness. Having a good score of more than 750 would help you to achieve the most convenient insurance of loans in the market. In this way, you would be a beneficial customer.

How is the CRIF Score Calculated?

Generally, the credit bureaus of each country are responsible for calculating credit scores. There are a variety of factors that play a very crucial role in the CRIF credit score calculation. The significant parameters are credit age, payment history, credit type, and credit utilization.

1. The Credit Utilization Ratio (CUR): Credit usage is one of the two most prominent factors in determining the CRIF score. This ratio implies the fraction of credit you use or have used in comparison to the limit you are allowed to use. Your all-over outstanding balance is divided by the total credit limit you have for generating the Credit Utilization Ratio. Credit usage of around 30% to 40% is necessary to maintain an impressive score.
2. The History of Repayment: Along with usage ratio, repayment is also another most vital factor. It is a crucial part to calculate the value of the CRIF credit score. Bureau tracks the history of loans, bills, and EMI repayment history. Hence, time to time delivery of dues indulges having a sound score. This history assures the lender that you are a genuine and reliable customer and will not cause casualties. On the other hand, missing several payment deadlines will result in a low score and, therefore, delay in achieving further financial assistance. It is a high impact factor.
3. Credit Age: A long credit history often helps to determine the trustworthiness of you. Whereas, short credit history does not make the scoring procedure confident enough to rely on you. Hence, it is good to keep a credit card of long history rather than a new one.
4. Account Total: It is a less significant factor in comparison with the previous ones. The mixed credit value of secured and unsecured types will help improve the overall CRIF credit score.

What Are the Practices That Negatively Affect the Crif Score?

So far, we have talked about CRIF score meaning, CRIF score range, and what a good CRIF score is. Now, let's take a look at some of the practices which harm the score.

• Lack of timely repayment of EMIs: Whenever you fail to pay an equated monthly installment (EMI), your CRIF CIBIL report would take a hit. With every missed EMIs or your payment dues, your CRIF score would decrease. In other words, a low CRIF credit score portraits your pending equated monthly installments.
• Lack of timely payment of credit cards: In recent times, when it comes to purchasing something, people tend to use credit cards more often than before. What is concerning is that the debt on credit cards keeps on stacking. It harms your credit score very much. Heavy usage of credit cards has an adverse effect on your CRIF CIBIL score. Using multiple credit cards would let your credit score go down as well. Therefore the timely due payment of a credit card is crucial for a good CRIF score.
• Unsecured loans: If you have multiple unsecured loans that are due, your credit score will eventually fall. If you have several loans against your name, your CRIF CIBIL report will surely experience a huge setback. So it is better to take one loan at a time to avoid hurting your credit score.

Wrapping Up:

Now, as you know about the negative impacts, it is time to know about the remedies. Let's take a look at the steps on how you can improve your credit score and make it a good one.

• First of all, loans play a significant role in controlling your credit score. So, if you apply for a loan, make sure you completely clear all the debts before applying for another. Proper maintenance of the CRIF credit score would help you take loans as per your need in the future. Hence, long term loans are always preferable.
• Keeping an old credit card helps increase your credit rating. It improves your credit history. Thus, it will generate a sound score. When you cannot clear the dues, you should opt to close that card. But you should always look to keep an older credit card as it enhances your CRIF score.
• As mentioned earlier, the untimely payment of EMIs makes a mess of your CIBIL score. So, it is always advisable to repay your pending installments on time to avoid any kind of consequences.
• It is better to consult with your bank and set a monthly limit on your credit card. In this way, you can minimize using your credit card too much. Hence, your credit score gets improved.

In this article, you get a clear idea about the CRIF score range, CRIF high mark score meaning, negative practices that affect the CIBIL score, and ways to improve the score.

Suppose you are a college student and worried about where to take loans. Don't hesitate to check out mPokket. It is the best place for college students to apply for loans. You have to follow some easy and fundamental steps to apply for the loan.

India loves cricket to an extent where people have been following it like a religion. It brings people together and is the epicentre of an exceptional amount of cheers, prayers, and tears. And with the IPL 2020 season finally, here, the love just blows out of proportion. Now we get game after game of amazing sportsmanship and unmatched skill at the display. It's officially the time to gather your friends or family (or both!) and bond over the couch and cheer for your favorite teams.

The IPL season is already a melting pot for a lot of fun and excitement. But what if we tell you that the IPL is the perfect opportunity to make some money? That would be amazing, right? Let us help you on how you can make the perfect winning IPL team for Dream11's fantasy cricket league and earn extra cash during the cricket season. Topping that with some tips and tricks and possibly some help from the instant loan app– mPokket, we will tell you all that you need to know for your winning streak with Dream11. Being the best loan app in India, mPokket will assure that you make the most of the much-awaited cricket season.

If you don't already know, Dream11 is a game of skill where you can make a fantasy cricket team of real players for an upcoming match. The fate of the match and your team players' performance affects your chances of winning! But it is not a game of pure luck. With a bit of study, analysis, research, and Dream11 tips, you can also crack the code of making a winning team. And we are here to help you earn cash during IPL.

Tricks of the Trade!

You might not be a cricket veteran or a gifted cricket expert. Despite not having an instinct towards the game, you may still stand an excellent competitive chance to win. How may you ask? The answer is simple- by using some well-tested tricks of the trade. Dream11 is one of those games which you can win through research and analysis. Some many apps and websites can help you with Dream11. But let's start with why do you need an app or website to improve your chances of winning Dream11?

• They provide you with accurate stats and analysis for the playing members.
• They also share weather and pitch predictions, which heavily influence the players' performances.
• You also get detailed previews of the upcoming match.
• They give statistically sound suggestions for the captain and vice-captain of the team.

Fancode, CricInformer, Sportskeeda, and Probable11 are a few apps that can help you to make the right decision and give you some dream11 winning tips. You can also refer to some websites like Cricbuzz, profantasycricket, dreamcentric, etc. which share dream 11 tips and predictions for upcoming matches.

The Best Strategy to Create Teams for IPL

It is time to sync your days with the IPL 2020 schedule! Whether you are entirely new to the IPL Dream11 league or have been trying it out for a while now- the following strategies will surely help you to perform better:

• Make transfers strictly after the toss, after the line-ups have been announced.
• Refer to experts for tips for dream11. You can use websites, expert videos, or apps like Fancode where you can get tips from well-known experts like Boria Majumdar, Deep Das Gupta, etc. for your fantasy IPL team.
• Do not stuff your team with the players from a single match. Ideally, fill up to 3-6 players from one match. This is one of the most underrated and beneficial dream11 winning strategies.
• You can also check out websites or apps to get the probable playing 11 before the match. Some apps like Dream Team Go have this feature of today's IPL match prediction.

Additional Tips & Tricks

• Winning is great, but you should always be critical of the amount that you are investing in the prediction. After winning a match or two, players often get excited and pour in all or a major chunk of their winning into the next match. It is risky enough to be never recommended. Your moves should always be precise.
• A good way to manage your finances in the IPL Dream11 fantasy cricket is to fix your investment amount- regardless of whether you win or lose. With this investment plan, you can stray away from losing unnecessarily and save in the long run.
• If you are just starting out financially and are worried about the investment involved, you can try instant loan apps to save extra money for fantasy cricket leagues. mPokket is the best loan app in India as it provides quick, document-free loans.
• Pick your players wisely. Invest in good all-rounders that you trust, as they give you points for both batting and bowling. All-rounders are also great options for captaincy and vice-captaincy.
• Don't be afraid to take calculated risks! Emphasis on calculated. Most of the players in the fantasy leagues end up having the same players majorly. So it all comes down to critically the 2-3 players that you choose exclusively. Thus, a risk or two might be what you exactly need to win the game.

Need Cash? mPokket can help you!

Money management is something we all are put up against early on in our lives. Especially as a student, worrying about money takes a toll on our moods. We all need money to buy study material, parties, college fests, etc. More than often, all our needs cannot be satisfied with our pocket money. Whether you are passionate about cricket in general or are looking forward to trying your hands at Dream11 fantasy cricket during IPL 2020, there is a good chance that you are worried about sparing the finances for it as a student.

But we have a solution for you! Now you can manage your study material, stationery, parties, and other miscellaneous expenses while also sparing some money to invest in IPL Dream11 2020. mPokket is an instant loan app in India for students. So if you are a salaried professional who is crunched beneath the restrictions of your limited salary, we have something for you as well. ,mPokket also provides instant loans for the salaried. No more worrying about monthly expenses- get instant, paperless loans from the best loan app in India– mPokket and spare some money to make the most of the Dream11 IPL season.

The COVID-19 pandemic has spread to the rest of the world since the first quarter of 2020. Barely any country has been unaffected by the effects of the pandemic, be it physically, financially, or emotionally. Life is very monotonous, and the new normal has taken over, the world seems to be adjusted to it by now. Further, the effects of the epidemic have been on all age segments and have not even spared students and young working professionals, particularly financially. This life-altering event has triggered a global recession comparable only to the Great Depression of 1929. This has caused heavy loss of jobs, particularly in businesses that involve discretionary spending.

Students and young working professionals have been heavily hit with unemployment and cash crunch due to job loss and ample free time. Many of them are finding it hard to keep up with daily expenses and also emergency expenses. Even as the world hurries to find a vaccine against the coronavirus, the post-pandemic business scenario looks dull from where we are standing. Thankfully, options such as instant personal loan are available to aid through the financially trying times.

A Closer Look at the Core Challenges Faced by Students and Young Working Professionals

Clearly, the pandemic has had far-reaching effects on students and young professionals. These young folks have faced tremendous challenges during this pandemic phase due to the decreasing unemployment rate and pay-cuts and widespread withdrawal of job offers. College students are finding it difficult to pay their tuition fees, mobile bills, buy books, and add to that one more expense. Since the pandemic has taken everything online, several students need additional gadgets and more data packs to attend their online classes. This is yet another expense. This has been the case even for working professionals as they need proper gadgets to work from home. Also, due to the lockdown, the internet bills have shot up, adding not only the online classes but also the surfing of the web in free time.

COVID-19 has also dented career plans, especially for those just about to begin a job or going for higher education. Many students who just graduated have lost their job offers, and their future in a post-pandemic world remains uncertain. Another problem that many young working professionals are facing as one of the effects of the pandemic is that they struggle to pay their utility bills and even daily expenses, especially if their families depend on them. Many of these young professionals may even have taken long-term loans. Due to unemployment, it has been difficult to repay their loan instalments.

Meanwhile, the monthly bills are always knocking at the door. Hence, college students and young professionals are going through a severe cash crunch. Even the lifestyle of these students and young working professionals has been drastically affected, and it is hard to adapt with less money flow. To start with, there's been a complete halt at meeting friends, visiting restaurants, or going to the movies. At the same time, the cash crunch has not allowed this segment to enjoy the lockdown period, either particularly.

It is in this backdrop that digital lending apps have been a boon. With almost everything halted during the lockdown, digital has been doing a “double shift.” That is, personal loan apps have continued to support those in need of money during the pandemic. Instant personal loan apps such as mPokket have offered an instant personal loan to its users all over the country. They have enabled students and professionals to stay afloat during these challenging times.

Personal loan apps have been providing loans for self-employed and personal loans for salaried persons and college students. These instant personal loan apps have been there in the time of need, especially because traditional loan sources such as banks do not lend without collateral, and these apps have quick disbursal. Further, with the entire application process completely online and contactless, these apps are preferable, rather than taking the risk of getting infected by visiting lenders personally.

Impact of COVID on Different Sectors

The pandemic has wreaked havoc everywhere but has affected some sectors much more. These are sectors that involve contact among customers and the staff. The effects of the pandemic have been most felt by the entertainment, leisure, travel, and hospitality industries.

Theatres have been shut across economies. Most entertainment is now available only online. Even the music industry has been drastically hit as concerts have not been allowed since the pandemic hit the world.

Hotels have also taken a massive hit, given that travel is at an all-time low due to the hygienic paranoia and the pandemic. Many restaurants and cafes have shut down permanently due to escalating fixed costs and halting business for many months. Even though some restaurants are now operating at a limited capacity, the sector has definitely taken a big blow and will have a deep financial impact even post-pandemic.

Many other sectors that involve discretionary spending have also been hurt. This includes the retail industry and many other allied sectors. Retail has mainly been hit due to income uncertainty and shutdown of malls. Significant effects of the epidemic have been seen on the gaming industry as well, with gaming centers shut or operating at limited capacity. The postponement and most-awaited of most sporting events like the Tokyo Olympics 2020 has affected allied sectors as well. Most sports events have been cancelled or postponed indefinitely. Most of them are now going on without a live crowd.

Further, airlines, the automobile sector, and even real estate are seeing a considerable contraction given that most people would want to avoid travel, save their money, and protect their health, rather than travelling or taking on new long-term liabilities such as home loans or car loans. At this point, the damage is not confined to select businesses but is widespread across all the sectors.

The Road Ahead

Like most countries, India too is on its way to “unlock” the country. This refers to easing restrictions on movement and activity. Economic activity is slowly limping back to normalcy. However, it will be a while until things resume to pre-covid levels. Business opportunities post-pandemic are likely to be adversely affected.

Therefore, during such challenging times, students and young working professionals may face a cash crunch. It could be anything—from payment of tuition fees to even arranging medical expenses for a family member. In this case, students and young working professionals may find it individually difficult to secure loans, mainly due to personal loan eligibility and student loan eligibility criteria from conventional lending sources like banks. Also, secured loans may be out of reach due to lack of collateral or security.

mPokket provides instant personal loans to students and young working professionals. This personal loan for salaried employees and students can help them tide over financially tricky times. This instant personal loan is available online easily on mPokket's instant personal loan app.

mPokket, with its quick disbursal times, through its loan app for students and working professionals, has already lent to over 5 million users. mPokket's instant personal loan app has assisted young people through their journey by helping them through any short-term money crunch they may face. Plus, mPokket loans require minimal documentation, are paperless, and need no security. Moreover, the instant personal loan is available for flexible loan amounts for up to 90 days at attractive interest rates. mPokket is your friend in need when it comes to difficult financial situations.

Don't let the pandemic derail your life. Download the trusty and reliable mPokket's instant loan app for college students and young working professionals today!

We all dream of having a house of our own, a car that matches our status, the latest phone in the market, or if nothing else, we all want to take that dream holiday. But not everyone runs a successful business or has access to fluid money especially, if we talk about young working professionals straight out of college.

So, what is the next best solution to it? Personal loans for salaried employees! Perhaps, to borrow the required amount from a financial institution like a bank, fulfill our dreams, and then pay the amount with interest in the form of an EMI. The simplest answer to your question – what is EMI (equated monthly installment) or EMI meaning – it is a fixed amount of payment made by a borrower to a lender on the same day of each calendar month. EMIs cover both interest and principal each month so that over a specified number of months or years, the loan is fully paid.

Shopping Using EMIs

Once we know what EMI is, things become clearer to secure  one. Life changes as we start earning. While we were happy with a limited wardrobe and simple things as students, we now want to aim higher and acquire gadgets and things that we always dreamt of. And why not! With the availability and easiness of getting an instant personal loan for salaried people, the next best thing to do is to plan your EMIs and do some EMI shopping.

However, before you take the plunge, it is imperative that you learn how EMI works, to be able to make a wise decision and opt for a loan that suits your requirement and pocket. After all, it is you who have to  bear the monthly repayments after fulfilling your goal.

Benefits of Taking an EMI

EMI based loans are versatile. From a car loan or EMI for a bike to a house loan, and from a student loan to a personal loan for salaried employees that can be used for many purposes, the market is today flooded with a plethora of options to choose from. However, before we dwell any further, let us consider the benefits of opting for an EMI when you are a young working professional.

1. The Freedom to Buy Expensive Utilities

To begin with, taking a personal loan for salaried employees with an EMI option gives us the freedom to buy expensive utilities that we might not consider otherwise. Be it a vehicle, expensive household items, gifts for family and friends, jewellery for wedding, or a house itself, EMI shopping helps buy anything and everything in one go. As you get a chance to divide the used amount in monthly instalments and pay it back easily, they make the buying process easy. Furthermore, EMI shopping is not only beneficial for the buyer, but also for the seller as they get to widen their customer base.

2. Easy Documentation

As more and more working professionals and even students who have a part-time job are opting for various loans, banks and financial institutions have reduced the paperwork and the processing time required for loans—especially with regard to personal loans for salaried customers, making it easier to get the needed fund without waiting for it for too long. This means you will not have to miss out on a good deal because of financial constraints. This has made loans attractive to consumers who have nothing of value to use as collateral.

3. Pocket-Friendly Repayment

The repayment terms are generally flexible and allow you to pick a tenure that will optimize your monthly outgo according to your needs.

4. Choose an Amount that You Need

Loans give you the option to pick an amount that best suits your needs and monthly repayment budget. However, it is also dependent on your credit score.

5. Range of Repayment Terms

Gone are those days when loans had strict rules around repayments. With multiple repayment options and higher flexibility, especially since the advent of money lending apps in India, it now depends on how quickly you want to repay the amount.

Things to Know Before Opting for an EMI

Whether you consider an EMI for a bike, a house, for an international holiday, or to buy the latest gaming console, there are certain things that you must know about and should consider before opting for EMI shopping.

1. Range of Repayment Terms

Knowing how you want to spend the borrowed money is the most critical factor to consider before taking a loan. Borrowing money is a big financial step and can make or break the deal depending on how you manage it.

2. How Much You Can Afford to Borrow

The next step is to consider how much money you can afford to borrow in terms of repayment. This is an important question as this will help you plan your EMIs. Aim at affordability since it is a large contributing factor even before applying. After all, it is not just about being able to afford the fixed monthly EMIs but also adjust them comfortably within your cost of living while maintaining a steady income outflow to meet any unforeseen emergency.

3. Research on Loan Options

With the easy accessibility of information on the internet, do extensive research on the available market options before signing any paper. From how EMI works to factors that formulate a loan to the down payment (if any), EMIs, repayment tenure, etc., research on these factors before your loan application to choose a suitable loan from a better lender at attractive interest rates.

4. Longer Tenure Means a Costlier Loan

Read the monetary policy carefully to understand how the interest rate and interest amount change based on the tenure you choose. What might look like a relief today could result in you paying a huge amount just for the interest.

5. Spend Cautiously

No matter how well your income is today and how small of a loan amount you borrow, spend cautiously to ensure your monthly expenditure and savings are all in place.

6. Maintaining the CIBIL Score

Maintaining a stable and good credit score helps in the future when you want to apply for another loan. Regularity in EMIs pays off well and helps with the quick processing of an instant loan for salaried employees and disbursal the next time.

7. Additional Charges

Consider all other administrative, processing, and service charges that banks levy upon borrowers and plan your monthly finances accordingly.

How to Plan Your EMIs Smartly?

1. Choose the Right Loan Tenure

Calculate your savings and the exact amount you need before applying for a loan to ensure you have to bear lower EMIs, which would enable you to repay the loan comfortably. While choosing the tenure, consider your age, income, repayment capacity, future plans, etc.

2. Increase your EMI amount over time

Since, as a salaried employee, you will get an annual hike, consider increasing the EMI amount simultaneously to reduce your loan tenure and the total outstanding loan amount.

3. Prepay Whenever You can

Prepaying your loan whenever possible helps lower your outstanding loan amount, reduce the total interest payout, and thus decrease your loan tenure as well. For this, it is advisable to keep the prepayment/foreclosure terms in mind to ensure you get to plan your finances without hassle.

4. Go for a Lower Interest Rate

With plenty of lenders available in the market, you can opt to transfer the remaining loan amount to another lender offering a lower interest rate to save money in the long run. You can also opt for services like mPokket, one of the best apps for an instant loan that helps you borrow instant loans and offer low-interest rates with easy repayment options that allow you to meet your requirement without any hassle.

5. Grow Your Savings

While personal loan for salaried employees gives financial liberty, however, no matter how little the loan amount is, focus on your savings and invest them appropriately to earn interest and returns. This can also be used to repay the loan amount later and thus save on the EMIs.

6. Never Delay or Miss Your EMI Payments

Financial discipline can help you maintain your CIBIL score. An outstanding payment can cause a problem for new credit cards and another personal loan for salaried persons.

Conclusion

Getting a personal loan for salaried employees that are otherwise difficult to save is a good option to fulfill your dreams; however, it is advisable to consider all factors before applying  for a loan. Having a basic understanding of what EMI is to even how EMI with a debit card works can help anyone understand the nitty-gritty of how EMI works can help in making a sound decision.

If you are a young working professional, you are probably dealing with more than one of these:

1. The pressure of keeping your job, performing well
2. Not having enough time for the things you really want to do
3. Upskilling
4. And the biggest of all—the uneasy month end money crunch.

Most young adults, including college students and young working professionals, face the problem of month end money crunch, having exhausted their cash before they get their next allowance or salary. To beat this month end cash crunch, there are always options such as a personal loan for salaried professionals and college students.

But first, let us look into how and why young adults face these issues.

Lifestyle of a Young Working Professional

When you are at the end of your college and begin working, you are likely to experience a sea of changes. The most important feeling is the sense of even more freedom than you had as a college student. A lot of this freedom comes from being able to earn on your own. While the journey from financial dependence to independence is exhilarating, it can sometimes throw young professionals off track with respect to managing money. This is when personal loans for salaried professionals may come in handy.

A lot of young working professionals, with the newly found freedom, begin to splurge money and live off credit cards like there is no tomorrow. The college cafeteria is replaced with an upscale eatery, and the basic accommodation/dorm room is replaced with a rented flat in an expensive locality.

This is where the problem begins. Many young professionals and even college students end up spending more than they have. They exhaust all their money much earlier in the month and then have no cash left by month's end, even for the most basic things.

Further, as we all know, “With great power comes great responsibility!” Many of us may even have to provide for a family emergency, such as medical expenses. In such situations instant loans for salaried employees can be a short term option.

This month's money crunch can, however, be beaten by working professionals by availing for a personal loan for salaried people. Listed below are additional options-

Tips to beat the Month End Crunch

1. Use Public Transport

Prefer using public transport such as the metro, trains, and buses rather than private vehicles. Private vehicles are not only more expensive due to fuel costs but also high on maintenance. And hey, they are a greener option!

2. Opt for inexpensive food alternatives

The good old cafeteria in college will satiate you as much or even more than that fancy eatery. The same goes for the office cafeteria when it comes to young working professionals. Of course, quality is important. But who said affordable food is not healthy? Opting for inexpensive food alternatives can be a great way to beat the money crunch. If you do want to splurge on a special occasion, you can treat your friends with the help of an instant loan.

3. There are many personal instant loans with a flexible tenure.

Opt for a loan for salaried people available easily through personal loan apps for salaried employees and young adults. Many companies provide instant loans for people at low-interest rates. Such loans can help you get through the month with ease.

4. Save on accommodation

The key rule to beat the month end money crunch is to “save where you can.” Save on basics such as accommodation! You can choose to share a flat with your colleagues or friends and even check with your company if they have a relationship with brokers/partners who can provide discounted employee accommodation. Students can choose the good old dorm room rather than renting a house.

5. Choose “needs” over “wants”

Prioritize what you really need to spend on rather than what you want to spend on. For example, travel and food are needs, while an expensive watch is a want!

6. Take advantage of perks

Don't feel shy to take full advantage of perks given to young professionals and college students such as cafeteria food coupons, on-campus gym memberships, and tie-ups with restaurants. This way, you can save a lot and easily deal with a month end cash crunch.

7. Keep track of your expenses

At the end of the month, do you feel that you don't even realize how you ended up with the money crunch? This is pretty common among young adults as they do not have the habit of tracking their expenses. Keeping a record of where you spend your money is the first step towards spending wisely!

8. Budget for the month

“Budget” may be a big word, but it truly is simple to budget. At the start of the month, note down your income (salary/allowance) and your expected expenses. This way, you will know how much you should be spending for your cash to last till month end.

9. Indulge in “free” fun

As young adults, we are often too impressed with the material world, but indulging in things such as meeting your friends or spending time with nature can be priceless!

10. Spend wisely, not impulsively

Avoid following your peers blindly. Think about why you want to spend on something before you do so!

Get Easy Loans for Young Working Professionals

mPokket understands the money crunch that young working professionals and college students face at month end.

To assist young adults with this temporary money crunch, mPokket offers instant personal loan for salaried professionals and college students through its incredibly easy-to-use instant loan app. This instant personal loan app for salaried professionals and college students delivers the loan amount swiftly into the applicant's bank account.

The instant loan for salaried employees and college students is available for a loan duration of 61-90 days typically and carries nominal interest rates–ideal for beating a short-term money crunch.

To avail the instant loan for cash, salaried employees and college students need to download the mPokket app and submit their details. Once the loan is approved, mPokket offers the flexibility of loan amount and duration.

mPokket's instant personal loan for salaried professionals and college students involves minimal documentation, is paperless, and completely online.

Further, mPokket's instant personal loan app for salaried employees and young adults offers 24/7 support and has already assisted 5+ million users in beating their money crunch.

Among the many personal loan apps for salaried professionals and college students, mPokket's app is perhaps at the forefront in providing hassle-free instant loan for salaried young professionals and students at nominal interest rates.

Beat the month end money crunch with mPokket. Try mPokket's instant loan app for college students and young working professionals today!

How mPokket Ensures Data Security Against Identity Theft?

First coined in 1964, ‘Identity Theft' is the stealing of personal information and committing serious crimes such as making unauthorized purchases from someone else's Credit/Debit cards, stealing passwords, fingerprints, selling names under the hood, and using other's identity without their knowledge. In today's world, data is the new currency. From boosting a company's revenue to curing a disease, information is everywhere. In such a data-driven environment,  safeguarding personal data is of paramount importance. Hackers not only target larger companies but smaller companies as well due to their data vulnerability.

Sensitive information requires proper protection against fraudsters. The opportunities to monetize data are abundant and all-growing. Hence, as data's value grows, the responsibility to manage and protect the data rises exponentially. Large companies, healthcare centers, fintech organizations, Governments, and banks hold highly confidential and personal data. They are very susceptible to information leaks.

Companies should address this issue by:

• Being transparent about what they store
• Being transparent about how they secure the data
• Training employees about the usage of personal data and how to safeguard it

As the world is becoming digital and crimes are propagating faster, organisations need to focus on the evolution and enforcement of more robust encryption of valuable data.

Data theft is a business. There are several tools used by fraudsters to collect personal data.  Companies should take note of this in order to safeguard their customer data.

Why is Data Security Crucial?

According to the Identity Theft Resource Center (ITRC), identity theft can be categorised into five categories:

1. Criminal Identity Theft: It occurs when someone pretends to be you after committing a crime and is caught by law enforcement. Here, your name may be mistakenly associated with a criminal conviction record.
2. Financial Identity Theft: It occurs when someone pretends to be you after committing a crime and is caught by law enforcement. Here, your name may be mistakenly associated with a criminal conviction record.
3. Identity Cloning: This is the type of crime in which the identity thief impersonates someone else to hide their true identity. The criminals may be running from the law or may be mentally ill. In the worst-case scenario, identity cloning may go undetected forever.
4. Medical Identity Theft: In this kind of robbery, someone uses your personal identity information to obtain medical goods or services fraudulently. Someone can pretend to be you and get the medical services in the emergency room. It can be dental cleaning, prescriptions at a pharmacy, or availing durable medical equipment. Mixed medical records are particularly devastating because now the identity thief has their personal information intermingled with yours.
5. Child Identity Theft: Criminals can take a child's Social Security Numbers (SSN) and use them to commit fraud. A child's SSN is even better because it's like a clean slate. The identity thief can take your child's name and date of birth, messing with their identity.

mPokket's Registration Process

mPokket's Registration process consists of eight essential steps:

1. Download the instant personal loan app – mPokket from Google play store.
2. Verify your mobile number via OTP.
3. Sign up using your Google/FB account.
4. Create a strong password.
5. Choose your occupation.
6. Upload Know Your Customer (KYC) documents.
7. Create a selfie video.
8. Approval of your account.

If all the documents and details provided are correct and valid, it takes between 10 minutes to a few hours to get your profile approved. Once the profile is approved, both college students and young working professionals can borrow loans and get money in their bank account instantly. The entire process is online and paperless.

The personal loan eligibility for college students and professionals are as follows:

STUDENTPROFESSIONALPAN card is mandatory if the Aadhar Card is provided as identity proof. PAN card is mandatory to borrow money from mPokket. For other identity proofs (Voter ID card/ Driving License/ Passport),
providing a PAN card is not mandatory. Must have Voter card/Driving License/Passport/Aadhaar as an ID proof.College ID card is mandatory to register. Company's ID card necessary if you are a full-time professional. Offer letter/ joining letter can be provided in the instant student loan app.
if you don't have a salary slip. Salary slip (of the bank account where you receive your salary) is needed. Instant personal loans up to INR 50,000.

What Happens to Your KYC Documents?

The KYC documents uploaded for your account's approval to avail an instant personal loan online facilitate the services on behalf of mPokket. Payment processing, providing customer support, performing web, or instant personal loan app-related services are the key areas that use this personal information. The personal information is not leaked to the other users except for potential benefactors when you apply for an instant personal loan online as a beneficiary.

The third parties having access to your personal information are contractually bound to not disclose or use it for any other purpose. They use this data to deliver the personal loan app's functionalities, resolve technical difficulties, and improve the application's function through regular updating.

Get Secure and Instant Secured Personal Loans

mPokket removes the challenges faced by college students and professionals by offering the best instant secured personal loan application. With their easy registration process and instant verification, you can get instant personal loans transferred in your bank account instantly.

Initially, for students, a borrowing limit of INR 500 is allotted. The limit can increase up to INR 10,000 in the future. You also have the flexibility of choosing the tenure of repayment up to 90 days. Once you have repaid a loan, you can borrow again up to your eligible borrowing limit in this secured personal loan app for students.

There are a lot of benefits once your loan eligibility is fulfilled. One of the chief features that make mPokket one of the best instant personal loan apps is the online loan registration, verification, and sanction. This feature allows you to borrow instant loans from your home safely, even in this pandemic. For a salaried employee, an initial borrowing limit of INR 1,000 with an increase to INR 50,000 is present. This is a highly secure loan for self-employed professionals. Thus, mPokket is also the best instant loan app for young salaried professionals.

Further, these loans are devoid of collateral, a boon for students and young professionals once you fulfil the loan eligibility. Finding guarantors is a tedious task for young working professionals. mPokket provides instant loans without the need of any guarantors. mPokket also has 24/7 customer support and is trusted by more than 5 million users. So, if you are struggling with your expenses in college or having difficulties in managing your finances as a young employee, secured instant personal loans from mPokket can come to your rescue. With the ease of using a personal loan app and a simple verification process, receiving instant student and professional loans is the easiest with mPokket, the best application for a secured and instant personal loan.

Here's the link for mPokket Instant Personal Loan App : mPokket Instant Personal Loan | Student | Salaried

Did you know that in 2019, the IPL generated $614 million (over INR 4500 crores)? That is more than 30% of global cricket revenues. It is no surprise because the IPL economy goes beyond tickets and sponsorships alone. There is much more to the money fest, including auctions, brand deals, and online gaming. Let us understand IPL finances in greater detail.

Auctions

Every year, the world's best T20 players go through the process of IPL auction. Before the auction, every team gets a fixed budget. Each team can buy a maximum of 25 players, and no more than 8 of them can be foreigners.

Like every year, IPL auction 2020 lived up to its hype. For IPL 2020, 332 cricketers went under the hammer. Out of these, the eight teams bought 62 players: 33 Indian and 29 overseas.

Kolkata Knight Riders made the most expensive purchase of Australian cricketer Pat Cummins for INR 15.50 crore. Other top buys included Glen Maxwell (INR 10.75 crores by Kings XI Punjab), Chris Morris (INR 10 crores by Royal Challengers Bangalore), Sheldon Cottrell (INR 8.5 crores by Kings XI Punjab), and Nathan Coulter-Nile (INR 8 crores by Mumbai Indians.) The teams spent a whopping 140 crores combined to buy the best T20 players from the world.

Here is what each team has spent on auctions this year :

TeamsAmount Spent (INR Crores)Kolkata Knight Riders27.15Kings XI Punjab26.20Royal Challengers Bangalore21.50Delhi Capitals18.85Chennai Super Kings14.45Rajasthan Royals14.15Mumbai Indians11.10Sunrisers Hyderabad6.90

Remember, this is the amount spent on IPL auctions alone. Overall, teams have spent much more on retaining their key players. For instance, Mumbai Indians have spent nearly INR 72 crores on players, including the amount spent on auctions. Rohit Sharma has a salary of INR 15 crores. Among all the players retained, Virat Kohli is the league's highest earner with a salary of INR 17 crores. Kohli was also the most expensive player in IPL 2019 with a similar salary. To put some more perspective on the numbers, over the past 13 years, MS Dhoni has earned INR 137.8 crores from IPL salaries alone.

Sponsorship

IPL sponsorships are another significant part of IPL finances. Nearly 60% of IPL revenues are from sponsorships. Media rights holder Star India has set a revenue target of INR 3,000 crores from sponsorship sales. For IPL 2020, Dream11, the fantasy gaming platform, won the IPL title sponsorship rights for INR 222 crores. This whopping sum gives the gaming platform IPL sponsorship rights for 4 months and 13 days. Dream11 outbid two educational technology companies, BYJUs (INR 201 crores) and Unacademy (170 crores.) The sponsorship is expected to give a huge boost to the IPL online games on the Dream11 app, which has over 8 crore users.

Image Source:  https://www.dream11.com/

Apart from the title sponsor, official partners Tata and Unacademy are paying INR 80 crores. Ceat, which has been a long-time partner for strategic timeouts, is paying INR 30 crores. And, as an umpire sponsor, Paytm is paying INR 28 crores.

Disney+Hotstar has got 13 sponsors for the live streaming of the event. This number compares to 10 sponsors last year. In addition to being a title sponsor, Dream11 is also the ‘Co-presenting' partner for the live streaming of IPL 2020. Boost has grabbed the ‘Co-powered by' slot. Other firms advertising on the streaming platform include Maruti Suzuki, Flipkart, HDFC bank, and Swiggy, among others. According to industry estimates, IPL 2020's revenues from digital advertising and sponsorships are likely to cross INR 300 crores.

The lure of sponsorships does not end here. Each franchise has its own principal sponsor. Then there are official partners, merchandise sponsors, and other sponsors.

Here are the estimated team sponsorship revenues for this year:

Image source: https://www.exchange4media.com/ipl-news/ipl-2020-franchises-to-earn-rs-10-15-crore-minus-central-pool-revenue-107444.html

Tickets

IPL 2020 is going to be played behind closed doors. As a result, teams will lose on the lucrative revenues from ticket sales they have enjoyed over the years. Each big team earns INR 35 to 40 crores from ticket sales alone. Smaller teams earn between INR 18 to 20 crores. Ticket sales contribute to nearly 10% of team revenues. The ticket sales for the playoff games are reserved for BCCI. It is believed that in 2019 the board made INR 20 crores from ticket sales of playoffs.

To shed some more light on the IPL ticket economics, Royal Challengers Bangalore has never won an IPL. However, the stadiums are always fully occupied for their matches. The Chinnaswamy Stadium in Bengaluru has a capacity of 35,000, yet for any IPL game, there are many more people than that at the stadium. The cheapest seats start from INR 750 each. Ticket prices for corporate boxes can go as high as INR 7,000 each. Finally, the most expensive tickets (VIP hospitality) are worth INR 35,000 each.

Then there are food and beverage expenses within the stadiums. Franchises give food and contract stalls to third parties on a contract basis. Each franchise collects a fixed amount for each match on a per stall basis. The food and beverage economy is not limited to stadiums alone. Restaurants, pubs, and online food delivery apps provide special discounts to cash in on the IPL craze.

Brand Details

Apart from principal and associate sponsorships, a lot of brands associate themselves with IPL franchisees in different capacities. Recently, Mumbai Indians had four global brands (Marriott Bonvoy, Colgate, Cadbury Dairy Milk, and William Lawson) for multi-year deals. There are also sponsorship slots on jerseys and helmets. The rate card for sponsorships varies from INR 1 crore for the back of the helmet to INR 4 to 5 crores for a logo at the back of the jersey to as high as INR 7 crores for the front of the jersey.

KKR has Exide as a sponsor for the jersey's sleeve, Royal Stag as a sponsor for the non-playing hand on the jersey, and Asian Paints as a sponsor for the pants of their official attire. Each franchise also has its set of partners. Chennai Super Kings has announced Levista Instant Coffee as their Official Licensed Coffee partner. KKR has the Telegraph as their media partner, Fever 104 as their official radio partner, and Sprite as their official drink. Jio is a sponsor for all teams. Dream 11 is also a sponsor for several franchises, including KKR.

Brands also spend on individuals for endorsements. Even though MS Dhoni has retired from all forms of cricket (except IPL), he continues to attract attention from sponsors such as Dream 11. Paytm's gaming arm Paytm First games has recently signed Sachin Tendulkar as its brand ambassador to cash in on the online gaming fest during IPL.

Online Gaming:

The online gaming ecosystem is another huge revenue generator during IPL. As per a FIFS-KPMG 2020 report, the revenues of online fantasy sports companies in FY20 stood at INR 2,400 crores. That is a substantial increase from their revenues of INR 920 crores in FY19. Nearly 35-40% of these revenues come from IPL. Mobile Premier League is offering a season ticket worth INR 99 for unlimited access to fantasy cricket contests during the IPL season. MPL and Paytm First Games expect to cross 80 million and 100 million users, respectively, by the end of IPL.

Fantasy cricket involves creating virtual teams and appointing a Captain and a Vice Captain for the teams. Players get points based on the performance of their players, which can be converted to real cash. For example, in the Dream 11 app, players get 2x points for the runs scored by their chosen captain. If someone chooses MS Dhoni as their captain and he scores 60 runs in a match, this will give the player 120 points. There are also bonuses for boundaries, sixes, half-centuries, and centuries scored by their chosen players. Once players create a team, they can enter contests as per their budget. Based on the performance of their players, they can convert these points into actual cash. They can easily withdraw their winnings and transfer to their bank accounts.

Online gaming provides a good opportunity to earn money for those who understand their cricket. Remember, there's skill involved, and only those who follow the game are likely to win money. Players need to be aware of different cricketers' forms, which will help them choose winning teams. Beginners can join free leagues to get a feel for the game. Once they are confident, they can try their luck by investing in small amounts. One they are fully confident, the IPL is a really good opportunity to make a quick buck. There are many students and young professionals who have made fantasy cricket as a second source of income.

Just like any other game, there could be ups and downs. Some days players may win, and some days they may lose. mPokket understands the challenges faced by college students to meet their short-term cash needs. mPokket provides instant loans for students through its user-friendly mobile app. The hassle-free process with minimal documentation makes mPokket the best instant loan app in India.

References:

1. https://www.thecricketer.com/Topics/ipl/icc_t20_world_cup_ipl_pulling_power_simon_hughes.html
2. https://brandequity.economictimes.indiatimes.com/news/marketing/ipl-2020-disneyhotstar-nets-13-sponsors/78118384
3. https://www.livemint.com/sports/news/fantasy-sports-firms-look-to-tap-ipl-frenzy-on-board-new-users-11600404591604.html

The importance of saving money cannot be emphasized enough. After all, all big things have small beginnings, and every drop makes an ocean. As a college student or a young adult, saving money early on has its own benefits. Like many other things, saving is a habit that is best inculcated early in life. This is because it can help you invest early in the long term to grow your wealth and also meet your goals easily. For example, learning how to save money can shield you on a rainy day, help shell out emergency expenses, and also arrange for a down payment of your first scooter or car.

Tips for saving money as a college student!

Now that we have established how important it is to save money, here are some tips for students and young professionals on how to save money as a student and as a young adult.

1. Prioritize your needs over wants:

Many students and young professionals do not understand the difference between a want and a need and end up spending all their money on want instead. By the end of the month, they have no money left for even bare necessities. If you spend all your money on wants such as eating at your favorite eatery, you will not have enough for your absolute requirements such as books, travel, and tuition fees. Hence, a small habit of saving pocket money will go a long way, and only spending on needs will also save some extra money for leisure.

2. Avoid bad loans and loans with high interest:

Rule no. 1 for borrowing a loan or using a credit card is ensuring that you repay the due amount on time. This is because if you do not pay back the loan or credit card bill on time, it will not only lead to greater interest later but also affect your credit score. This may disqualify you from borrowing loans in the future. Further, high-interest loans should also be avoided. Instead, do your research and opt for loans which allow flexible repayment schedules.

3. Ensure that you have a budget:

Budget may seem like a complicated term. But it's really not. Budgeting is simply keeping track of your income, expenses, and future cash flows, and keeping track of the money you spend and the money you earn or get as the allowance is extremely important. In fact, learning how to spend money wisely is the first lesson in saving money. Many apps and organizers, such as expense managers, are available to help you keep a record of your spending and income. These records can help you learn from past mistakes and save wisely in the future. Can you expand your budget? Yes! But how to make money in India while being a student? By applying for an internship, part-time job, etc., these are some ways college students can earn.

4. Spending excessively:

Taking the point related to “needs and wants” further, sometimes, it so happens that college students and even young working professionals are under pressure to spend on things that are not necessary. Many a time, this is because of peer pressure. If you feel you're not spending wisely, rethink your choices. You could very well do it with a simple home-cooked meal than eating at an upscale restaurant. These choices can help you figure out how to spend money wisely, and the right choice can help you save pocket money or a good amount of your salary.

5. Taking advantage of free facilities:

As a college student, there are many perks you get, such as discounts only by showing your ID, be it a discounted membership at the gym on the campus, or buying books from certain stores. This can help you save pocket money to a great extent. Also, students should take advantage of scholarships to save money. Young working professionals also get discounts at certain eateries and stores on showing their company ID as part of promotional campaigns. Preferring to visit these affiliated stores for leisure or shopping is one of the best ways to save money in India.

6. Choosing your basic amenities wisely:

College students tend to overspend on basic things like accommodation, which they can easily get on-campus for much less. A place that is shared with friends is also a good idea rather than shouldering the entire rent. This applies to working professionals too. Further, for both college students and young professionals, using public transport or shared transport than using your own private vehicle can help you save money. What's more, it is also great for the environment.

7. Indulging in some cost-free fun:

Whoever said all great things in life cost a lot of money is mistaken. Think about it: did the most memorable moments of your life cost money? More often than not, the answer would be no. Indulge in activities that bring joy and not material happiness. This could be having a quiet time with a book or hanging out by the beach with your close friends.

A bonus tip for students on how to save money is to have a side income. While in college, you can pick up opportunities, such as helping your professors in some research work.

What are the Benefits of Saving Money

As a college student or a young working professional, you may be wondering what the benefits of saving money are? Well, the benefits of saving money can be realized immediately and more so, over time.

For starters, saving money becomes valuable for anyone because it gives you the time and option to earn returns, whether the saved money is in the bank account earning interest or invested elsewhere, such as in the stock markets. The benefits of saving money for students and young adults, in general, are even more. This is because you are still young and have more time to multiply your money.

The saved money can come handy if you are saving for a trip or even for an emergency fund. It is perhaps the first step in becoming financially independent and not just relying on your parents or job to earn money, but rather make your money work for you. In fact, by saving and making smart investments over the long term, you can achieve many financial goals like buying a new car or home. Thus, saving is a necessity and not an option.

Saving money can also serve as a great learning experience as you grow older as you will be required to make many financial decisions and have responsibilities towards your family.

How to avoid bad loans?

College students have recurring expenses such as travel, food, and hostel fees, knocking at the door while managing their leisure expenses such as eating out, watching movies, etc., which may not be fulfilled with the allowance they get. Young working professionals also spend on travel, eating out, etc. Further, some may also have emergency needs such as medical expenses for themselves or the family.

Due to the nature of these expenses, a lot of times, students and young professionals go through a cash crunch and are in need of urgent cash. When they are unable to pay back the loan at such high-interest rates, they end up with bad credit.

This is where mPokket comes to the rescue. mPokket has been supporting students and young working professionals in their time of need by giving them instant loans at nominal interest rates. In fact, mPokket has already lent to more than 5 million users and is preferred by millions of young users across India. It's the best instant loan app for college students and young working professionals.

Borrowing through mPokket is super convenient! mPokket provides instant loans for students and young working professionals through the convenience of an easy-to-use app. All this, along with 24×7 support.

Applying for an instant loan is as easy as it gets with mPokket's instant loan app for students and young professionals. All they have to do to avail the loan is download mPokket's in India, provide the necessary information and wait until the loan is approved.

Once the loan is approved, the money is directly disbursed in the bank account, based on the applicant's preference.

What's more, the loan requires minimal documentation. The documentation process for availing the instant loan for college students and young professionals is hassle-free and completely paperless.

mPokket understands the challenges that young adults face when it comes to short-term and urgent cash needs and also offers these instant loans at nominal interest rates. It is, therefore, among the best instant loan apps in India, for students and young working professionals.

If you are in need of a short-term loan and want to borrow some cash, look no further! Avoid loans that come with hidden charges. Instead, download mPokket, the best instant loan app for students and young working professionals today!

College is one of the most eventful times of our lives. Along with loads of self-development, growth, and learning, we also face a few challenges- especially when it comes to finances. As a college student, it is tough to be able to manage your finances wisely. However, the harsh truth is that many of the financial mistakes you make during your college years can stick around for many years after that.

Money management is a skill that is not only useful during your college time, but also for the rest of your life. However, many times students do not have enough money at hand when they need it the most. From essential expenses like study material, stationery, college trips, to ancillary expenses like parties, festivals, college fests- a college student has many costs to juggle.

Common financial mistakes that students make in their college time can be an imbalance between savings and expenditure, lack of budgeting, abusing credit cards, and overspending. Such errors cause them inconvenience during essential payments like study and social life. In such a situation, Student Loans are a great way to manage college expenses. Opting for an instant loan for students can relieve them of financial stresses and help them have a more wholesome college life. One of the best instant loan apps in India, mPokket, offers instant personal loans to students. Here are the answers to 20 most commonly asked questions asked by college students around student finances and an online personal loan:

2. Can I study college for free?

Unfortunately, that is not possible in India as of now. However, many schemes and organizations offer financial aid and scholarships to students who need it or those who score merit and qualify their criterion.

3. Is going to college worth the expense?

Considering investments involved in college life, it is a legitimate question to have. E, A college degree is necessary for being competitive in the industry. Sure, there are many professions you can take without actually ‘needing' a college degree, but college education prepares you for the overall life ahead- like working on deadlines, coordinating projects with teammates, financial management, etc.

4. Is the college expense manageable by everyone?

Even though the tuition fee is somewhat manageable for most college attendees, many students experience difficulties in coping up with the expenditures in college. However, there are many ways that students can help themselves in coping up with financial difficulties in college. A few ways would be maintaining a strict budget, working in a part-time job, working from home, or opting for an instant student loan.

5. How can I pay for college?

There are a few ways to manage the college fee, such as:

–  Financial support from parents, guardians, or relatives

–  Scholarships

–  Financial aid in the form of scholarships and other schemes

–  Student Loans

However, the fee is not the only expense in college. For ancillary personal expenses students can always opt for an online personal loan.

6. How can I get a loan as a student?

There are a few resources that offer instant loans to students, such as mPokket. Students can also apply for instant personal loans online.

7. What are the qualifications to get a student loan?

When looking for instant personal loans online, every organization has its criteria for eligibility. A few common rules are:

–  You must be 18+ in age.

–  You must be enrolled in a verified educational institution.

8. How much personal loan can I get as a student?

A student can generally ask for a smaller loan as well. For example, if you apply for an instant loan for students with mPokket, you can borrow up to INR 10,000.

9. What documents do I need for verification to get a loan?

As a student, generally, you need a personal identity proof, college ID card, and a PAN card. For further information, go through the terms of your loan provider.

10. Can a student get a loan instantly?

Yes, mPokket offers the best instant loan app in India for students. Through their instant personal loan app students can get a loan online without going through the hassle of paperwork.

11. Can I get a loan without documents?

No, it is not possible to get an instant loan without documents.

12. Should I get the loan in cash or online?

There are different resources available for both cash and online loans. However, generally, it is very difficult to procure an instant cash loan from a bank. It is easier to get a loan transferred online in a short time through an instant loan app.

13. What happens if I pay my loan late?

Paying late can affect future chances of getting a loan. You will also be charged a periodic penalty past your due date. To avoid the penalty, please pay your loan amount within its due period.

14. What happens if I am unable to pay my loan on time?

It will lower your CIBIL score and affect your prospects of borrowing from any other institution. A digitally signed legal contract backs up the loan.

15. How fast can I get a personal loan?

The loan sanction period is different for different loan providers. However, your loan application can get approved within a few hours with mPokket, one of India's best loan apps.

16. What is the mode of repayment of student loans?

Instant loans for students can be repaid via Debit card, or UPI.

17. Can I get a new loan instantly after repaying the previous loan?

Yes, with instant loans from mPokket, you can borrow again once you have repaid the previous loan.

18. How long will it take to receive the sanctioned loan in my bank account?

Getting the loan amount in your bank can take anywhere between 30 minutes to 2-3 business days. Contact your loan provider to understand the timeline of receiving your sanctioned loan amount.

19. Can I repay the loan using a credit card?

No, it is not possible to repay a loan using credit cards.

20. Can my borrowing limit be decreased?

Yes, it is possible. If your loans become overdue and are not repaid before the due date, your borrowing limit can be decreased. For avoiding such a situation, make sure to repay your loans on time.

Instant Loans Made Easy With mPokket!

A general Indian college student is constantly bothered by short term expenses like examination fees, study materials, trips, parties, fests, etc. If not dealt with sensibly, these expenses can cause a good deal of stress to the students, reflecting in their academic performance, health, and mood.

mPokket acknowledges the challenges faced by college students and young professionals for their short term expenses. Thus, they offer you the best online loan application services to help you meet your college finances comfortably. With their easy application process and instant verification, you can get loans transferred instantly in your bank account. Thus they are the best instant personal loan app in India for college students. Initially, you are allotted a borrowing limit of INR 500 as a student, increasing up to INR 10,000 in the future. You also have flexibility to choose the tenure of repayment upto 90 days..

One of the prime features that make mPokket the best instant personal loan app is that the entire loan application procedure and sanction occurs online. With the recent pandemic, this feature helps you access loan services from the safety of your homes. mPokket also offers loans to working, salaried professionals. If you are a salaried employee, you will be allotted an initial borrowing limit of INR 1000. Later, your borrowing limit can be increased up to INR 50,000. Thus mPokket is also the best instant loan app for young salaried professionals.

Further, these loans do not require collateral, which is excellent for students and young professionals. So if you are struggling with your expenses in college or having difficulties in managing your finances as an employee, instant loans can help you get through such a time in peace. With the convenience of using an app and a simple verification process, getting student loans is easiest with mPokket- the best application for a personal loan.