IndusInd Bank partners with JP Morgan Xpedite to expand global money transfers
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Business Standard
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IndusInd Bank partners with JP Morgan Xpedite to expand global money transfers

IndusInd Bank has entered into a partnership with JP Morgan Payments to expand outgoing money transfer services to 123 currencies. This will allow clients to transfer funds directly in the recipient's local currency, minimizing the need for intermediate currency conversions.

The partnership will utilize the Xpedite solution from JP Morgan Payments. This solution leverages a global payment network and automated exchange rate channels, which helps optimize cross-border operations and increase settlement efficiency.

Currently, the service is available to clients through IndusInd Bank branches. The bank intends to extend this capability to its internet and mobile platforms so that clients can initiate outgoing transfers around the clock.

Ganesh Sankaran, CEO of IndusInd Bank, noted that through the collaboration with JP Morgan Payments, the bank is strengthening its capabilities in cross-border payments, expanding access to 123 currencies, and ensuring direct settlements in local currency.

Guhaprasad Rajagopal, Head of India Payments at JP Morgan Payments, stated that this interaction will combine J.P. Morgan's global payment platform with local expertise to ensure faster and more secure cross-border transactions.

According to the company, JP Morgan Payments processes nearly $12 trillion in payments daily and conducts operations in over 160 countries and more than 120 currencies.

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BRB Lizing LLC, established by AKB 'Business Development Bank', offers new financial tools for businesses
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podrobno.uz

BRB Lizing LLC, established by AKB 'Business Development Bank', offers new financial tools for businesses

AKB 'Business Development Bank' continues its work to create new financial opportunities for both the population and entrepreneurs. Specifically, a new limited liability company, BRB Lizing LLC, has been established.

The activities of BRB Lizing LLC are focused on supporting business entities and citizens by providing various fixed assets, including machinery, equipment, and vehicles, under leasing and installment plans.

In connection with the launch of BRB Lizing LLC's operations in Navoi region, a large-scale exhibition was organized, showcasing modern small-sized equipment and machinery from both domestic and foreign manufacturers. Visitors have the opportunity to study the technical specifications and functionality of the presented devices in detail.

During this exhibition, entrepreneurs and citizens looking to start their own business or scale up existing ones can gain access to financial services under specific conditions.

Microleasing and Leasing Services Terms:

Under microleasing, the financing amount can reach 300 million UZS. The financing term ranges from twelve to eighty-four months. The required down payment is no less than twenty percent of the total equipment cost. The annual interest rate is set in the range of 14% to 24%, depending on the size of the initial payment and determined by the commission's decision.

Main Objectives of the Company:

The main goals of the company are to provide long-term leasing services to small and medium-sized business representatives, as well as to those just starting their entrepreneurial journey. Additionally, it provides equipment for personal needs and small businesses to self-employed citizens and the general public under installment and leasing terms.

BRB Lizing LLC plans to acquire modern leasing assets by attracting preferential financing from international financial institutions and donor organizations. Systematic monitoring of the technical condition of leased assets is also provided to ensure their effective use.

It is worth noting that such presentations and exhibitions are being held in stages across all regions of the republic. Special attention is paid to creating convenient conditions for clients, as the exhibition itself offers the opportunity to arrange financial services and obtain other modern banking products.

SIP Formula to Achieve Millionaire Status: How to Accumulate Large Capital Through Regular Investments
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www.aajtak.in

SIP Formula to Achieve Millionaire Status: How to Accumulate Large Capital Through Regular Investments

Despite ongoing fluctuations in the stock market, which are also reflected in the mutual fund market, investors aiming to build significant capital are advised to maintain their investments and not succumb to panic from market instability. Investing through SIP (Systematic Investment Plan) over the long term is considered a profitable solution capable of making a person a millionaire if the correct strategy is followed.

The possibility of accumulating over one million rupees is examined, starting with monthly contributions of just 10,000 rupees.

Tensions in the Middle East, caused by the conflict between the US and Iran, have impacted global stock markets, leading to serious losses for some investors. However, most experts advise against stopping SIP during such fluctuations, as it is a long-term investment scheme that has historically yielded substantial profits for investors.

Market experts recommend starting new SIPs even amid volatility. By starting investments with a monthly contribution of 10,000 rupees, one can accumulate a capital of one million rupees, but this requires following a specific formula—using Step-up SIP. This strategy involves increasing the SIP amount by 10 percent or more annually, which ultimately leads to millionaire status.

Consider an example: if you start SIP with a monthly contribution of 10,000 rupees, assuming an annual increase of 10% and an average annual return of 20%, the fund will exceed one million rupees in 13–14 years. Calculations show that thanks to the annual 10% increase, the monthly contribution after 5 years will reach 14,600 rupees, and the total fund volume will be around 1.4–1.6 million rupees. Similarly, after 10 years, the monthly payment will grow to 23,500 rupees, increasing the total deposit amount to 4.5–5.5 million rupees. If this strategy continues, the monthly payment will reach 38,000 rupees after 14 years, and the total capital will be 1 million rupees.

In this one million rupee portfolio, the total amount invested will be approximately 3.8–4.2 million rupees, while the remaining significant portion will be the result of the power of compound interest, which plays a key role in long-term investing through SIP. SIP provided investors with returns within the range of 18–20%, and this return is the factor that allows one to become a millionaire. It is important to note that the calculations are based on the assumption of a 20% return and do not represent a guaranteed amount; the actual return may be higher or lower.

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