Latest news with #ZET
Mint
16-06-2025
- Business
- Mint
What triggers the ‘credit hunger' flag on your credit report and how to avoid it
Credit bureaus are increasingly vigilant about identifying 'credit-hungry' consumers, signalling this behaviour through frequent loan applications or hard inquiries. This can influence your credit score and lender behaviour significantly. Credit bureaus monitor hard enquiries, applications for loans or credit cards. Multiple hard inquiries within a short duration of time may signal credit hungry or loan‑dependence behaviour to lenders. RBI‑mandated fortnightly reporting since January 2025 has fast‑tracked borrowers' activities into credit files. This heightened frequency means high-risk patterns are detected more rapidly. Not only this, as a responsible borrower you should try to ensure that your credit utilisation ratio is kept in check and you are never in a position to be overly dependent on just credit to meet day to day expenses. Sameer Mathur, MD and Founder of Roinet Solution, says 'Credit bureaus typically flag credit hunger based on the type and frequency of enquiries. A soft enquiry, such as checking loan eligibility, is harmless and doesn't impact your score—it simply shows that you're exploring your options. But a hard inquiry, which happens when you formally apply for credit, indicates a strong intent to borrow. When multiple hard enquiries occur in a short span, it signals to lenders that the borrower might be under financial stress.' It is therefore like walking into five different financial institutions and banks in a week requesting them for personal loans. Eventually they will take note of this and presume that you are in financial trouble. That is how credit bureaus see frequent hard inquiries. Echoing this, Manish Shara, Co-founder & CEO of ZET, says 'Applying for several credit cards or loans back-to-back sets off red flags at credit bureaus. This behaviour is commonly tagged as 'credit hungry', often pointing to financial instability or overdependence on borrowed funds. Each hard inquiry slightly erodes your credit score, so a smarter approach is to space out your credit applications, borrow only when truly needed, and maintain a solid repayment track record.' The RBI has mandated lenders to update credit data every 15 days, replacing the old and outdated monthly cycles. That is why, even the speed of loan applications now plays a role, not just the amount borrowed. This shift benefits focused and disciplined borrowers whose consistent on time repayments reflect quickly but also highlights those applying for multiple credit lines in quick succession. Frequent applications are a clear sign of financial stress, a point echoed across industry channels. RBI's goal is to curb over‑leveraging by detecting such behaviour early. So that defaults and bad practices in lending can be curtailed. Lenders may interpret rapid credit applications as default risk, potentially leading to higher interest rates or declined credit. Space out your loan applications to ensure that you minimise hard enquiries. Focus on only applying when necessary. Seek pre-approved offers, all such offers generally use soft checks and don't hurt your credit score or damage your credit profile in any way. Manage credit utilisation by purposefully capping card use below 30‑40 %. This strict practice helps avoid red flags. Monitor your report on a consistent basis, check for any unauthorised inquiries; quickly report any fraudulent applications promptly. In our nation, a healthy credit score (750+) facilitates better personal loan terms and access to premium credit card products from leading financial institutions. Conversely, being flagged for credit hunger can push one into risky interest categories, higher default probability or trigger denials. With faster credit bureau updates, even short sprees in credit seeking can have long lasting effects. Disclaimer: Mint has a tie-up with fintechs for providing credit; you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit scores. Mint does not promote or encourage taking credit, as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
Time of India
28-05-2025
- Business
- Time of India
ZET partners with SBM Bank for FD-backed credit card
ZET , a credit score builder platform, and SBM Bank (India) launched an FD-backed credit card designed to help Indians build and maintain a credit score over 750. According to a report by one of India's major credit bureaus, over 160 million consumers were considered credit underserved, and about 50% of the population was credit unserved at the end of 2021. Credit underserved are individuals with minimal credit activity, typically limited to a single type of credit product and no more than two open accounts, active in the credit market for at least two years. In contrast, the credit unserved are those with no credit history , making them credit invisible to lenders. 'A good credit score is essential for accessing better financial products, yet millions of Indians are either new to credit or held back by a low score. With the SBM ZET Credit Card, we are addressing this gap by offering a simple, secure way to start building one's credit history. Our aim is to empower more people to take charge of their financial journey with confidence," said Manish Shara, co-founder and CEO, ZET. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like El patrimonio de Palito Ortega conmociona al mundo. 33 Bridges Undo The SBM ZET credit card, which does not require an existing credit history, helps bridge this gap by providing a safe and reliable way for Indians to build and improve their credit score. It can be linked to any UPI app, and users can earn up to 7% p.a. interest on their fixed deposit with SBM Bank, while utilising up to 90% of the deposit as their credit limit. "At SBM Bank India, we are committed to creating financial solutions that enhance accessibility and drive meaningful impact. The SBM ZET Credit Card embodies this mission by empowering individuals — especially those new to credit — to begin their financial journey with confidence and ease. We are delighted to partner with ZET to introduce a product that is simple, secure, and genuinely inclusive," Kumar Anshumali, EVP - Credit Card, Partnerships and Digital Initiatives, SBM Bank India said. Live Events Unlike unsecured credit cards that require a strong credit score and income proof, the credit card has no such prerequisites. Customers need to open a fixed deposit with SBM Bank, starting at just Rs5,000 and can top up their fixed deposit anytime up to Rs5,00,000 through the ZET app. The fixed deposit is insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly owned subsidiary of the Reserve Bank of India , which provides deposit insurance of up to Rs5 lakh. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Founded by Manish Shara and Yash Desai, ZET is backed by marquee investors including Sequoia Capital , General Catalyst, WaterBridge Ventures, Nexus Ventures, and angel investors like Kunal Shah, Gaurav Munjal, and Harshil Mathur. Through its B2C credit-building platform and B2B2C agent-led marketplace, ZET offers secured credit products, AI-powered credit guidance, and embedded financial infrastructure for partners.
Time of India
19-05-2025
- Automotive
- Time of India
Government identifies 10 highway segments for zero-emission truck movement, the move to help India reach its climate goals
India has picked 10 key highway routes for zero-emission trucks to cut freight pollution and push green logistics (Representative Image: AI-generated) New Delhi: India has identified 10 high-impact highway segments where only zero-emission trucks (ZET) will be used for freight movement in the near future, as part of the country's larger goal for decarbonising the logistics sector, reducing air pollution, ensuring energy security and meeting the long-term climate goal of 'net zero' by 2070. These priority corridors, list of which was released by the office of the Principal Scientific Adviser (PSA) to the government early this month, will be used as pilots for early ZET deployment, laying the groundwork for a dedicated national infrastructure network focusing on electric and hydrogen-based fuel technologies across all highways in the country in due course. Despite comprising only 3 per cent of all vehicles, trucks are responsible for more than one-third of transport-related carbon dioxide (CO2) emissions in the country. This is particularly concerning given that road transportation accounts for a staggering 71% of overall freight movement in India. According to the Niti Aayog estimates, the number of trucks will be increased by more than four times, from 4 million in 2022 to around 17 million by 2050. It is, therefore, important to move fast towards ZET deployment for long-term benefits and that's why the Office of the PSA has undertaken the initiative to identify the top corridors for initial deployment of such trucks in India. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng với sàn môi giới tin cậy IC Markets Đăng ký Undo 'These (10) corridors serve not only as the best candidates for ZET pilots, but as blueprints for the future of freight movement,' said Ajay K Sood, PSA, in his foreword to the 56-page report on India's priority corridors for Zero-Emission Trucking . He said, 'The adoption of ZET in India will play a crucial role in decarbonising the logistics sector, improving public health, enhancing energy independence, and showcasing the country's leadership in the global transition to a net-zero future.' ZET corridors are highway segments equipped with charging or refuelling infrastructure to facilitate seamless goods movement. "Establishing ZET corridors can help ensure the use of truck and infrastructure assets, demonstrate ZET operational and financial feasibility, help manage risks and lower costs, and unlock private capital for ZET projects," said the report. Efforts are already under way to kick-start ZET adoption in India as the central government has allocated Rs 500 crore for the purchase of such trucks under the Prime Minister Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme. The top 10 corridors are: Delhi - Chandigarh; Delhi -Jaipur; Pune - Nashik; Dhanbad - Kolkata; Kolkata - Haldia; Vijayawada - Visakhapatnam; Bengaluru - Chennai; Chennai - Viluppuram; Coimbatore - Salem; and Coimbatore - Kochi These corridors were identified through a three-phase process: quantitative and qualitative assessment of an initial list of 230 corridors using parameters such as toll traffic data and mapping of supply/demand centres, stakeholder consultations and detailed field research. Other factors such as high freight traffic, industrial activity, availability of ancillary services, grid infrastructure readiness, corridor length relative to battery range, and strategic stakeholder inputs for commercial and business viability were also taken into account while finalising the corridors. The report, identifying the high priority corridors, was prepared with the support of Centre of Excellence for Zero Emission Trucking (CoEZET) - IIT Madras, Rocky Mountain Institute, and pManifold as knowledge partners.
Time of India
19-05-2025
- Automotive
- Time of India
Govt identifies 10 highway segments for zero-emission truck movement
India has identified 10 high-impact highway segments where only zero-emission trucks (ZETs) will be used for freight movement in the near future, as part of the country's broader goal to decarbonise the logistics sector, reduce air pollution, enhance energy security, and achieve the long-term climate target of 'net zero' by 2070. These priority corridors, list of which was released by the office of the principal scientific adviser (PSA) to the govt early this month, will be used as pilots for early ZET deployment, laying the groundwork for a dedicated national infrastructure network focusing on electric and hydrogen-based fuel technologies across all highways in the country in due course. Despite comprising only 3per cent of all vehicles, trucks are responsible for more than one-third of transport-related carbon dioxide (CO2) emissions in the country. This is particularly concerning given that road transportation accounts for a staggering 71per cent of overall freight movement in India. According to Niti Aayog estimates , the number of trucks will be increased by more than four times - from four million in 2022 to around 17 million - by 2050. It is, therefore, important to move fast towards ZET deployment for long-term benefits and that's why the office of the PSA has undertaken the initiative to identify the top corridors for initial deployment of such trucks in India. "These (10) corridors serve not only as the best candidates for ZET pilots, but as blueprints for the future of freight movement," said Ajay K Sood, PSA, in his foreword to the 56-page report on India's priority corridors for Zero-Emission Trucking. He said, "The adoption of ZET in India will play a crucial role in decarbonising the logistics sector, improving public health, enhancing energy independence, and showcasing the country's leadership in the global transition to a net-zero future." "Establishing ZET corridors can help ensure the use of truck and infrastructure assets, demonstrate ZET operational and financial feasibility, help manage risks and lower costs, and unlock private capital for ZET projects," said the report. Efforts are already under way to kick-start ZET adoption in India as the central govt has allocated 500 crore for the purchase of such trucks under the Prime Minister Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme. The top 10 corridors were identified through a three-phase process: quantitative and qualitative assessment of an initial list of 230 corridors using parameters such as toll traffic data and mapping of supply/demand centres, stakeholder consultations and detailed field research. Other factors such as high freight traffic, industrial activity, availability of ancillary services, grid infrastructure readiness, corridor length relative to battery range, and strategic stakeholder inputs for commercial and business viability were also taken into account while finalising the corridors.
Yahoo
14-02-2025
- Yahoo
Munich suspect confessed to intentionally crashing into crowd
The 24-year-old suspect in Thursday's vehicle attack in Munich confessed to intentionally crashing his car into a trade union rally, and investigators believe he acted out of an "Islamist motive," a senior Munich public prosecutor said on Friday. The suspect, an Afghan citizen, admitted during questioning to intentionally accelerating into the march near Munich's Stiglmaierplatz, said Gabriele Tilmann, the chief public prosecutor for Munich's Central Office for Combating Extremism and Terrorism (ZET). During questioning, the man "cited a motivation that I would describe as a religious motivation," said Tilmann, although she declined to reveal any details of his comments to investigators. She said that the investigation so far has not uncovered any sign that he had any connection to known Islamist extremist groups. A preliminary search of his phone and social media accounts showed he was openly religious and suggested an Islamist motive behind the attack, Tilmann said. She said that he was particularly active on Instagram, where he posted about bodybuilding, athletics and also expressed his religious beliefs. Tilmann also cited the testimony of police officers that the driver had shouted "Allahu Akbar," or "God is greatest" in Arabic, after the attack as evidence of a possible Islamist motive. At least 36 people were injured in the attack, a senior Munich police official said at the Friday morning press conference. Two of the injured remain in life-threatening condition, including a young child. Contrary to claims made by Bavarian Interior Minister Joachim Herrmann on Thursday, authorities made clear on Friday that the suspect was in Germany on a valid residence permit and did not have any previous criminal charges. Tilmann said he once failed to promptly report starting a new job to employment authorities who were handling his unemployment benefit claims, and so was briefly investigated for employment office fraud, but the proceedings were quickly dropped after he agreed to make payment.
