US Congress to vote on bill to remove 7% country-cap on Green Card, Indians may benefit Having a Green Card allows a person to live and work permanently in the US.

US lawmakers will vote on July 9 on lifting the seven per cent country-cap on issuing the Green Card, a move which may benefit thousands of highly-skilled Indian IT professionals waiting in the queue for decades.A Green Card allows a person to live and work permanently in the US.

Indian IT professionals, most of whom are highly skilled and come to the US mainly on the H-1B work visas, are the worst sufferers of the current immigration system which imposes a seven per cent per country quota on allotment of the coveted Green Cards or permanent legal residency.

Being supported by more than 310 lawmakers from both the Republican and the Democratic Party, the 'Fairness for High-Skilled Immigrants Act' is all set to sail through the 435-member US House of Representatives.

Buoyed by the fact of 203 Democrats and 108 Republicans are co-ponsoring the bill, the proponents of the legislation are using a fast-track process which requires 290 votes to pass a bill without hearing and amendments.

Lifting the per-country cap would mainly benefit professionals from countries like India, for whom the wait for Green Card is more than a decade.Some of the recent studies have said the waiting period for Indian IT professionals on H-1B visas is more than 70 years. No more than seven percent of the visas may be issued to natives of any one independent country in a fiscal year, according to the US Citizenship and Immigration Services.

The Library of Congress said the act, also known as HR 1044, is the most viewed bill in the week beginning July 7.According to the Congressional Research Service (CRS), this bill increases the per-country cap on family-based immigrant visas from seven per cent of the total number of such visas available that year to 15 percent and eliminates the seven per cent cap for employment-based immigrant visas.

It also removes an offset that reduced the number of visas for individuals from China.

The bill also establishes transition rules for employment-based visas from FY 2020-22 by reserving a percentage of EB-2 (workers with advanced degrees or exceptional ability), EB-3 (skilled and other workers), and EB-5 (investors) visas for individuals not from the two countries with the largest number of recipients of such visas.

"Of the unreserved visas, not more than 85 per cent shall be allotted to immigrants from any single country," the CRS said.

The bill, however, has to be passed by the Senate, wherein the Republicans enjoy a majority, before it can be signed into law by the US president.

A similar bill being supported by a bipartisan group of senators including Indian-origin Senator Kamala Harris is slated to come up for consideration soon. Both the identical bills in the Senate and the House were introduced in February.

In the House, it was introduced by Congressman Zoe Lofgren, a Democrat who represents portions of Northern California's Silicon Valley, and Republican Ken Buck from Colorado, while in the Senate it was introduced by Harris and Mike Lee from Utah.

In a news report, Breitbart news described it as a giveaway legislation to 300,000 Indian H-1B visa workers.

This will incentivize "more low wage Indian graduates" to take US jobs from middle class American graduates, it said and urged Republican lawmakers supporting the bill to withdraw their co-sponsorship.

Democrats, Breitbart alleged, "have kept the legislation secret the bill has had no hearing or committee votes and it is being backed by the  immigration lawyer who helped Democratic Sen Chuck Schumer write the disastrous 'Gang of Eight' amnesty in 2013".

Joining Breitbart, the Center For Immigration Studies said the bill would reward the employers who literally replaced American workers with hundreds of thousands of low cost and less skilled contract workers who entered on temporary visas (mainly H-1Bs), often working in the tech sector.

These employers are mainly big tech and foreign outsourcing companies.

"Under current rules, citizens of India are getting about 25 per cent of all the professional employment Green Cards each year. If this bill becomes law, citizens of India will get more than 90 per cent of the professional employment Green Cards, according to the USCIS, for at least the next 10 years.

"Green cards would be unavailable to applicants from all other parts of the world (and many other occupations) for at least a decade," alleged the Centre for Immigration Studies.

It argued that a bill with "such sweeping implications" for the US workers should not be passed without a hearing and without opportunity for members to offer amendments."Adopting a different Green Card selection system that chooses the most highly educated and skilled workers would eliminate the need for a per-country cap system, and would not reward the exploitative employers who thrive on the existing system," it said.

Congressman Paul Gosar said this is another gift for big-tech companies at the expense of American workers and students."We should not allow" House Speaker Nancy Pelosi to pass the bill without following the rules, he said, adding the bill has not had a hearing or markup.

Source:-moneycontrol.com

Water crisis? India won’t be at sea India's potential game-changer draws on Israel that is already using desalinated water for wide use. By Yogima Sharma, ET Bureau|Updated: Jul 09,

NEW DELHI: Jal shakti via salt water. With the prime minister making countrywide sufficient clean water supply by 2024 a top priority, and water shortage in major urban centres grabbing headlines, Niti Aayog is working on a plan to exploit India’s vast coastline and its marine waters by desalinating sea water and supplying it to population centres via a network of pipelines. 

The plan is to set up floating desalination plants in marine waters under India’s command or set up plants along the country’s 7,800-km coastline. Under international law, territorial sea of a sovereign state extends to 12 nautical miles from its coastline and the maritime exclusive economic zone (EEZ) can be up to 200 nautical miles. India’s maritime EEZ is estimated to be 1.63 million square km. Niti Aayog’s plan is also energy efficient, as it seeks to use solar energy or ocean energy for the project. 

The government’s think tank will soon come up with a detailed plan listing various technologies that can be used in different states to help set up commercially viable desalination plants. 

The Aayog will handhold the newly formed Jal Shakti ministry, providing it with the cost analysis and project viability report for such plants. Following this, a policy on desalination plants will be framed, a senior government official told ET. He spoke off record. 

“The government will soon come up with a directive for the ministry to kickstart work in this direction,” the official said. 

India’s Worst Water Crisis 

“This would be followed by a clearly outlined policy that can make sea water usable in most cost-effective manner as water is the priority area for the government,” the official added. 

According to a Niti Aayog report on water management index last year, India is currently suffering from the worst water crisis in its history with the country ranked at 120 among 122 countries in the quality of water. By 2020, it said, as many as 21 major cities of India will run out of water and face ‘day zero’— a term that got popular after a major water crisis in Cape Town in South Africa, which means literally switching off most of the city’s tap for a day. 

The report said 600 million people face high-to-extreme water stress, 75% of households do not have drinking water on premises and 84% rural households do not have access to piped water. Moreover, factors such as rapid climate change and ongoing over-extraction of groundwater, mainly for agriculture, are pushing the system to a breaking point, the Aayog had observed. The think tank’s desalination plants plan comes in this context. Countries like Israel have been successful in using desalinated water for wide use. Currently, as much as 70% of household water comes from desalinated sea water in Israel. 

How to identify fraudulent and fragile companies Here are eight important financial parameters to monitor before making your investment

Dev Ashish

Who knew that the liquidity crunch which began in September 2018 would kick start one of the most sweeping clean-ups in Indian corporate history? Slowly, all cockroaches are coming out one after the other. Fraudulent business, over-leveraged or fragile, the sudden drying up of liquidity has now exposed them all. Stocks of these businesses have crashed as much as 70-80 per cent in the last one year and this fall has surely shaken investor confidence.

Many new investors are learning the same old lessons. Unfortunately, many are still committing the same old mistake of averaging costs when stocks are falling heavily. Some think that these stocks have fallen 80 per cent from their 52-week high, and so, how much more can they fall?

They do not realize that these shares could fall another 100 per cent from here before they become zero in value. When you realize you are in a hole, the first thing to do is to stop digging further. So, the idea of recovering losses by averaging down the very same stocks may not be wise.

One sensible question which many individual investors are now raising is whether it’s possible to identify such fraudulent or fragile companies? If yes, what are the factors to consider?

Here, we share some key factors using which even a layman can weed out 90 per cent of such fraudulent and fragile companies and minimize the chance of permanent loss of capital by filtering out such businesses while investing.

Debt

The single biggest reason for corporate bankruptcy is borrowed money. Nobody can force you into bankruptcy if you don’t owe them any money. Unnecessary capex or an ill-timed acquisition can still be managed if funded with internal accruals. However, the effect of that wrong decision gets magnified if it’s funded with debt. Look at all the troubled companies and most of them would have one thing in common – debt. This applies not only at the company level but also at the parent company’s and promoter’s levels. The recent Zee Entertainment & Dish TV fiasco is a classic example; though these companies hardly have any debt, the Essel group (promoter) is over-leveraged and has pledged its shares in Zee & Dish. The stock prices of the two companies crashed.

Long working capital cycle

It is the capital that’s blocked in inventory (raw material & finished goods) and receivables (debtors). A shorter cycle indicates a high-quality business and its ability to convert goods into cash quickly. Some of it is funded by the credit period offered by raw material suppliers (payables/creditors). However, you should still focus on gross WC days (inventory + receivables) rather than net WC days, which subtracts the creditor days. This is because troubled companies often delay vendor payments by offering higher rates and hence the net WC days could mask the trouble. The lesson here is that shorter the gross WC cycle, the better it is. High-quality businesses such as those from the FMCG segment enjoy negative working capital. A long working capital cycle is a big constraint to growth and leads to negative operating cash flows, which can necessitate debt to fund operations.

Negative operating cash flows

A business may have negative operating cash flows for a year or two due to changes in working capital. However, one should see this in periodic batches of say three or five years. If it’s negative consistently, there is bound to be some issue with the business. Sales could be fudged and inventory or debtors could be overstated. Investors often focus on Profit & Loss statement and ignore cash flows; however, that’s where the real underlying issues can be identified.

Low promoter holding or high pledging

A high promoter holding (maximum allowed is 75 per cent; proposed to be changed to 65 per cent in the 2019 budget) ensures that the promoter has enough skin in the game and low incentive to benefit at the cost of minority shareholders. This is especially true for small owner-operated companies. Similarly, it could mean trouble if the promoter’s shareholding is pledged, as even if the share price drops due to general market volatility, he/she could get a margin call which if he/she fails to honor, could result in a steep fall in share prices triggered by the selling initiated by the lender, without any change in fundamentals.

Related Party Transactions

Multiple promoter entities in the same industry having significant transactions with listed entities is generally a red flag. Similarly, corporate guarantee given for a promoter’s private entities is another risk. Partly owned subsidiaries with remaining stake held directly by promoters generally shows greediness and mala fide intentions on the part of promoters. A clean corporate structure with all business being done through one single listed entity is the most desirable form.

Frequent equity dilutions/stake sale

A promoter who keeps raising capital by equity dilution or selling down his stake is generally a red flag and indicates that he himself doesn’t value equity.

Pays no/low tax and dividend

If a company pays no tax or much lower amounts compared to the prescribed rate of 33 per cent even when peers pay full tax, you should become alert and find out the reasons. Promoters who show fictitious profits generally find ways to avoid taxes because that would mean an actual cash outflow on profits which the company never made. Do not rely solely on tax figures stated in the P&L statement. Check the actual tax outflow from the cash flow statement. Similarly, such entities generally avoid paying out any dividends as it again involves an actual cash outflow from profits which were never made.

Cycle average RoCE < 12 per cent

Return on capital employed (RoCE) is the return (operating profit) a business generates on the total capital employed (equity + debt). If across a complete cycle (typically 6-7 years), the return is lower than the cost of capital (12 per cent), the business is destroying value and until something material changes in the business strategy/industry, the shareholders are unlikely to make money from such ventures.

(The author is the founder & CEO of Stalwart Advisors www.stalwartvalue.com, a SEBI registered investment advisor).Disclaimer: The post is for information purpose only and not to be construed as an investment advice. The author, Stalwart Advisors and its clients may have financial interest in the companies mentioned. Please consult your financial advisor before acting on any of it.

moneycontrol.com

बिना मनुष्यों के हमारी पृथ्वी ऐसी होगी, Earth Without Humans

HARD FACT WHICH EVERY INDIAN KNOWS NOW.

Verify pre-filled data carefully before filing tax . livemint Updated: 07 Jul 2019, 02:02 PM IST Ashwini Kumar Sharma

With the deadline for filing income tax return (ITR) for assessment year 2019-20 less than a month away, you may be in a hurry to get cracking, especially with the tax department issuing all the forms, including the ones that come with pre-filled information about the assessee, on its e-filing website,Incometaxindiaefiling.gov.in. However, if you haven’t received your Form 16 yet, don’t base your filing on the pre-filled information. Recently, the tax department issued a cautionary note for taxpayers using pre-filled ITR forms, stating that they should verify all the information mentioned in the forms before submitting it for assessment.

Some employers have not yet issued Form 16 because the Central Board of Direct Taxes (CBDT) has extended the last date for employers to issue the form to the employees to 10 July. You must wait for your employer to issue Form 16 before filing your returns and verify all the pre-filled information with the details provided in Form 16.

Remember that only ITR-1 and ITR-4 forms carry additional pre-filled information apart from the basic details of the assessee. Also, pre-filled information will only be available if you are filing your ITR completely online on the department’s e-filing website. The form will not have pre-filled information if you are downloading it in Excel or Java format, filling and uploading it online.

ITR-1 should be used by resident individuals having total income of not more than ₹50 lakh. Also, the source of income should only include income from salaries, one house property, other sources (like interest from bank deposit) and agricultural income of up to ₹5,000.

ITR-4 is for resident individuals, Hindu Undivided Families (HUFs) and firms having total income up to ₹50 lakh and for those who choose to file their income under presumptive taxation scheme (PTS). PTS allows you to calculate your tax on an estimated income or profit. The scheme can be used by businesses having a total turnover of less than ₹2 crore and eligible professionals with gross receipts of less than ₹50 lakh in a financial year. Those who opt PTS are not required to maintain books of accounts.

However, remember that neither ITR-1 and ITR-4 forms can’t be used to file returns by an individual who is either a director in a company or has invested in unlisted equity shares. Those having income from capital gains can file their return in ITR-2 form, while those having income from business and profession can file their return in ITR-3 form.

Pre-filled details

In its endeavour to make the process of tax filing easier, the income tax department last year decided to introduce pre-filled ITR forms with details of income and taxes paid by the assesses during the year. The aim was to use the information already available with the department and make the tax filing procedure simple and fast for taxpayers.

Earlier, ITR form had “information like name, father’s name, Aadhaar number, bank account number and so on. This year, salary information with break-up and exemption claimed, interest on income tax refund are pre-filled in ITR-1 and ITR-4 forms. House property income is now pre-filled where TDS (tax deducted at source) is deducted on house property income," said Archit Gupta, founder and chief executive officer, Cleartax.com, a tax filing portal.

The information available in pre-filled ITR forms is sourced from different places. “The income tax department sources such information from Form 26AS, TDS returns filled by the employer and also last year’s ITR," said Amit Maheshwari, partner, Ashok Maheshwary & Associates LLP, a chartered accountancy firm. Besides, “remember that this pre-filled facility is available only to those who file the return online on the portal. If the taxpayer uses excel or Java utilities, then they need to fill in all the details," said Maheshwari.

However, if you are using a pre-filled ITR form, make sure you cross check all the information mentioned in it. “Taxpayers need to exercise extra caution while filing their tax return, they must cross-verify each amount and validate final results of tax payable or refund due," said Gupta.

This is especially important for those who may not have submitted all the proofs of their deduction and investment to their employer and want to claim them at the time of filing their return. Errors could also impact an assessee’s dues or refunds.

To ignore the Budget, or not to? Why D-Street jitters mean nothing This year’s Budget has a couple of points, which interested the author. ET CONTRIBUTORS|Jul 08, 2019, 12.50 PM IST

Since I started advisory services, I keep receiving interesting questions from members. Though replete with sampling bias, they gave me glimpses into what investors think. For something now, everyone has been now focused on the Budget and its implications. 

My take on events (or non-events, as they turn out to be more often than not) like these – Budgets, elections etc. – is that we get carried away by recency and vividness biases. Just because these events are happening now and everyone –media, friends or family – is speaking about them, it is vivid and entraps us in the narrative. 

When we think of Budgets, how many of them do you remember after a few years? How many ground-breaking Budget ideas do you remember? Even for policies that created huge interest at the time – introduction of STT, DDT, removal of LTCG, removal of wealth tax – how many really impacted you or your investment and to what extent? 

This year’s Budget has a couple of points, which interested me. One of them is the idea of government borrowing in foreign currency. This will probably help the private sector, as the government’s domestic borrowing usually dominates the market. If it drops, then the private sector may be able to raise capital at more competitive rates. However, I am not sure how the currency risk is going to be mitigated in foreign currency bonds. 

The other idea that I found interesting is the nudge to Sebi to reduce maximum promoter holding in listed companies from 75 per cent currently to 65 per cent. This could have both positive and negative repercussions. MNCs and promoter-held companies with 75 per cent holding may not be happy to dilute stake and may decide to delist. On the other hand, others may be okay to reduce their holdings to 65 per cent or below. 

We need to wait and see if and how Sebi wants to implement this proposal and what are the timelines set for compliance of the same. I remember the furore created when the maximum promoter holding was reduced to 75 per cent. But as I said earlier, nothing catastrophic happened. Now that the two major events are out of the way, media pundits will start looking for, and find, the next breaking news to draw the eyeballs. Their business is in emphasizing on the recency and vividness of events so that people are glued to them. And India Inc will keep doing what it does best despite all this. 

Indian Budget 2019 Highlights

General

1.      Mantra of Modi Sarkar: Reform, Perform and Transform

2.      Number of Patents issued Tripled since 2014

3.      Economy of 5 Trillion US Dollar in few years

4.      Emphasis on Inland Cargo

5.      1 Nation 1 Grid Power for affordable Power to States

6.      Allocation of Rs. 350 crores loans to MSME’s with 2% subvention to GST                registered MSME

7.      Upto 1 crore loan to MSME in 59 minutes

8.      Proposal of Social Stock Exchange for listing of Social and Charitable                    organizations

9.      Focus: Gaon, Garib and Kisan

10.     75000 entrepreneurs to be trained

11.     Jan Jiwan Mission: Har Ghar Jal to all rural households by 2024

12.     9.3 crores toilet constructed since 2014 under Swach Bharat Yojna

13.     Propose to National Research Foundation (NRF) 

14.     Aadhaar for NRI’s with Indian Passport

15.     4 New Embassies to be opened in 2019-20

Direct and Indirect tax

• FM Thanks to honest Tax Payers and responsible citizens.
• Direct tax revenue has grown 78 percent i.e 11.37 lakh Crores from 2014 to 2019. 
• Corporate Tax- Tax Rate of 25% on Companies with turnover of upto Rs. 400 crores. This   will cover 99.3 % companies.
•  GST rate reduced on electric vehicle from 12% to 5%.
•  Tax deduction on loan taken for purchase of electric vehicle: Additional Income tax deduction of  Rs. 1.5 lakh of interest on loan taken for purchase of electric vehicle.
•  Start up’s would not be require Scrutiny by IT Department.
•  Carry forward and set off losses for startups and increase in period of exemption of capital   gains from the  sale of residential house for investment in startups up to March 2021.
•  Additional deduction of Rs. 1.5 lakh for interest on loans borrowed for affordable housing  until 2020 (upto 45 Lakhs) 
•  STT is proposed to be restricted to the difference between settlement and strike price of  options.
•  Interchangeability of PAN and Aadhaar for Income Tax Returns. 
•  Faceless E-assessment for Tax Scrutiny
•  TDS of 2% on cash withdrawal exceeding Rs. 1 cr. from a Bank account per year.
•  No charges for customer on Digital modes of payment.
•  Propose to enhance surcharge on taxable income of Rs. 2 to 5 cr and Above 5 Crore* effective tax rate will  increase by around 3% and 7%, respectively
•  Automated GST refund system to be initiated
•   Custom duty raised on Auto Parts and CCTV’s
•   5% Custom duty increased on imported books
•  Increase of custom duty on Gild

IMPORTANT FOR GST ANNUAL RETURN FILING

Dear All, 

Further to the announcement of extension in the due date, Government has issued a press release to clarify certain issues related to reporting requirements under GST annual return and audit report for FY 2017-18. Key takeaways are summarized below for your ready reference. For more details, refer attachment:  

Short payment of tax	Short paid tax in monthly returns can be voluntarily discharged through Form DRC – 03 along with interest; In such cases, no penalty shall be levied; Summary of such turnover can be declared in annual return Form 9;
Excess tax paid	Shall be declared in the annual return An eligible refund can be applied through RFD 01A;
Input tax credit	ITC cannot be availed or reversed through annual return; Liability to reverse ITC shall be separately done through Form DRC 03;
ITC claimed vs. 2A reconciliation (table 8)	ITC availed between July 2017 to March 2019 is required to be summarized; ITC not availed within due date shall lapse, however, there shall be no requirement to effect reversal since it is not credited to electronic credit ledger; Auto-populated figures of ITC as per 2A are per status as on 01st May 2019;
Additional information in annual return which was not part of monthly filings	Supplies received from composition taxpayers can be declared to best of knowledge and records; HSN summary of inward supplies can be declared to best of knowledge and records; Data is for informational purpose and reasonable variations shall not be viewed adversely;
Exempted, NIL rated and Non-GST supplies	Overlapping cases of NIL rated vis-à-vis exempted supplies shall not be viewed adversely; Non-GST supplies include the supply of alcoholic liquor for human consumption, motor spirit (commonly known as petrol), high speed diesel, aviation turbine fuel, petroleum crude and natural gas and transactions specified in Schedule III of the CGST Act;
Additional reverse charge payments	RCM liability for FY 2017-18 paid in FY 2018-19 shall be reported in annual return for FY 2018-19 only; Variations shall be reported with reasons in audit report (9C);
Debit/credit notes	Tax Credit notes pertaining to FY 2017-18 issued upto Sep’18 can be declared in annual return; Debit notes can be declared in reconciliation statement as “other adjustments” in point 5-O
Reconciliation of ITC on expenses	Reconciliation required only for expenses on which ITC has been availed; List of expense in Form 9C is indicative and additional fields can be added;

 Trust you find the above useful.

Thanks & Regards 

10 credit card benefits you probably didn’t know! Updated: 03 Jul 2019, 10:21 AM IST HT Brand Studio Credit cards offer a wide range of perks. Many of them are under-utilised — partly because people don’t know they exist :-livemint

Credit cards give you access to large amount of finances and allow cash-free payment of big-ticket purchases. They give you a chance to build your credit score, offer you reward points that you can redeem for a number of different goods and services, and get you deals from retail partners so you can save big.

Keeping all this in mind, here are 10 credit card benefits to help you leverage your finances better.

Credit cards give you access to large amount of finances and allow cash-free payment of big-ticket purchases. They give you a chance to build your credit score, offer you reward points that you can redeem for a number of different goods and services, and get you deals from retail partners so you can save big.

Keeping all this in mind, here are 10 credit card benefits to help you leverage your finances better.

Airport lounge access

You can use your credit card to make your air travel more economical and convenient. Numerous credit cards offer complimentary lounge access at domestic and international airports. This gives you a chance to enjoy free Wi-Fi, buffet spreads and comfortable seating. One card offering you these benefits is the Word Plus variant of the Bajaj Finserv RBL Bank SuperCard.

Baggage and travel insurance

If you travel often, look for a card that offers complimentary insurance in case your baggage or important documents like passport get lost or stolen during travel. Some cards offer a cover for travel both within the country and abroad. Others extend credit card benefits even to lost tickets or a missed connecting flight.

Purchase protection insurance

Many credit cards offer you compensation in case goods purchased with the card are damaged due to events like a fire or get stolen by thieves. Purchase protection is normally given up to a particular limit and against events listed by your issuer.

Accident insurance cover

Some credit cards help by means of an insurance cover in case you meet with a road or air accident. These covers offer substantial financing, in lakhs, and even help you take care of emergency hospitalisation charges abroad. In case of an accidental air death, the compensation can even amount to INR 1 crore.

Fuel discounts and surcharge waivers

One way to save on petrol or diesel is to get a fuel credit cardthat offers surcharge waivers and discounted rates or cashback deals at fuel stations. At times, the waivers are limited to a particular percentage and cashback offers are reserved to certain stations only. The RBL Bank World Prime SuperCard offers waivers of up to INR 150 per month on fuel.

Discounted and free movie tickets

As captivating movies premiere at theatres, you can be entertained and spend less by opting for a credit card that has deals on movie tickets. For instance, depending on the SuperCard variant you choose you can either get complimentary movie tickets or discounted prices every month.

Indemnity cover for doctors

In case you are a medical professional, then look out for a card that offers indemnity insurance. Currently, the RBL Bank Doctor’s SuperCard gives you an indemnity cover of up to INR 20 lakh against expenses that may arise due to negligence when practicing.

EMI facility

Cards like the SuperCard go beyond offering you credit card reward points that you can redeem for regular spends and thereby, make them more affordable. SuperCards double up as EMI cards and allow you to convert purchases above INR 3,000 into smaller instalments. By servicing smaller amounts, you can make big-ticket spends easily.

Interest-free cash withdrawals

Usually, you cannot use a credit card to make withdrawals from an ATM, but some variants allow you to avail this facility at a premium. One of the most unique credit card features that the SuperCard comes with is the facility to make 50-day interest-free cash withdrawals at ATMs. This powerful feature reduces the difference between credit card and debit card in terms of utility.

Quick personal loans

When you need funds during an emergency, you can use your credit card to convert the cash limit into a loan. This facility is offered by a few issuers, and can impact your convenience greatly. For instance, the SuperCard also functions as a loan card, wherein you can use it to obtain a 90-day interest-free personal loan as per your current credit limits and repay it in three easy EMIs.

The SuperCard is one card that you should consider when seeking versatility coupled with economical interest rates and jaw-dropping offers. It comes armed with strong security features and is available on simple eligibility terms.

The simplest way to go about your credit card application is to first check your pre-approved credit card offer from Bajaj Finserv. Doing so gives you instant approval, access to customised deals and a chance to win up to 20,000 reward points as a welcome gift!