In an era of increasingly global lifestyles and business interactions, international money transfers have become a crucial component of financial life. Australians sending funds to Europe — whether to support family, manage business transactions, or handle personal expenses — often face delays, hidden charges, and uncompetitive exchange rates through traditional banks.
According to an article on Newswire.com, Remitsy, operated by PULSEPOINT PTY LTD, has officially launched a new service offering same-day money transfers from Australia to Europe, aiming to solve these persistent issues with some of the lowest fees in the market. This development marks a significant improvement over conventional banking options, which can take several days to process and often lack transparency.
Remitsy’s new solution addresses a major pain point in the remittance market: speed. While traditional financial institutions may require two to five business days to complete international transactions, Remitsy processes most transfers within 24 hours. This allows users to send money with urgency and confidence, whether it’s for emergency needs or regular obligations.
In addition to rapid transfer times, transparency is at the core of Remitsy’s offering. The platform does not apply hidden margins to exchange rates—a common practice among banks. Instead, users are presented with real-time rates and full disclosure of fees before sending money. This level of clarity not only builds trust but also helps customers optimize their transfer value, especially when moving large sums or conducting frequent transactions.
Marc Alexander Schepis, CEO of Remitsy, emphasized the company’s customer-centric approach: “We’ve seen growing frustration among customers who feel trapped by hidden charges and slow transfer times. This launch marks a turning point: same-day transfers at significantly lower costs, with no guesswork.”
The platform is designed for ease of use. Customers can create an account at Remitsy.com, input the recipient’s information, and review all costs upfront before confirming the transfer. Full tracking is available at each stage, offering peace of mind and operational transparency.
Remitsy achieves its efficiency by eliminating unnecessary intermediaries. Unlike traditional remittance networks that rely on multiple banking institutions and outdated infrastructure, Remitsy leverages modern fintech innovations. This streamlined model not only reduces overhead but also enhances reliability and delivery speed.
The service is particularly beneficial for expats, small business owners, freelancers, and international students — all of whom may require dependable and fast transfers on a regular basis. As the global workforce becomes more mobile and cross-border relationships more common, the demand for such solutions continues to grow.
Beyond its immediate offering, Remitsy’s presence in the financial technology space highlights a broader shift toward consumer empowerment in international finance. By focusing on speed, cost-efficiency, and user transparency, the company is positioning itself as a disruptive force in the remittance sector.
Remitsy – PULSEPOINT PTY LTD is headquartered in Sydney and continues to expand its service offerings to meet the evolving needs of globally connected users. As cross-border transactions become an everyday reality for many Australians, solutions like Remitsy are redefining expectations around time, trust, and transfer value.
Setting aside a portion of your income can be a powerful tool for securing both your personal and household finances. In this article, we examine why saving money should never be undervalued, no matter your earnings, plans, or expectations for the future.
This article delves the importance and advantages of allocating funds regularly, emphasizing that savings help safeguard against unexpected events.
Saving is the practice of reserving a segment of your income—usually in a bank account or secure deposit—for future spending, emergencies, or even future investments. Generally, saving is seen as low-risk since it usually involves stable financial institutions, sometimes even protected by deposit insurance. In contrast, investing typically carries higher risk, but also the potential for greater returns.
Why People Choose to Save
Motivations for saving vary widely depending on individual goals and circumstances. Common reasons include:
Emergency support: Money saved can cover unforeseen costs like medical fees or car repairs.
Travel funding: A vacation often requires saving over time to cover both flights and accommodations.
Business startup capital: Many entrepreneurs rely on personal savings to launch their ventures.
Retirement planning: Consistent savings help ensure financial security and cover potential healthcare costs in later life.
Home purchase down payments: Saving for a typical 10% down payment is a key step toward home ownership.
Children’s education: Parents often save from early on to provide better educational opportunities.
Emotional well‑being: Having a financial cushion brings peace of mind and reduces stress.
How Europeans Save
Data from the European Commission reported an average savings rate of around 15% of income in Q1 2022, rising to 25% during 2020 pandemic lockdowns. By the end of 2021, households in the eurozone had collectively saved over €1.3 trillion, according to the IMF. Meanwhile, a Eurobarometer survey showed 53% of Europeans had savings accounts and 22% held some form of pension product. A majority—62%—also expressed preference for eco-conscious savings, avoiding funding environmentally harmful activities.
Common Saving Vehicles
Here are the most frequently used instruments for saving:
Savings accounts: Easily accessible, low‑risk accounts insured (in the EU up to €100,000). Interest is modest, but stability is guaranteed.
Certificates of Deposit (CDs): Offer higher yields than regular savings accounts but require locking funds for a set term. Withdrawals are limited during that period, though insurance protection often applies.
Top 10 Benefits of Saving
Financial independence – steady savings allow for freedom to choose life paths.
Security – building a buffer of 3–6 months’ expenses offers protection from the unexpected.
Risk management – savings accounts let you accumulate funds safely before moving onto riskier investments.
Short‑term goal planning – whether it’s a trip or purchase, regular contributions provide clarity on timelines.
Funding major ambitions – whether it’s business startup or education, savings support long‑term plans.
Family protection – they provide a safety net against sudden economic changes.
Lowering financial risk – with minimal fluctuation, savings are more predictable than volatile investments.
Retirement readiness – even small, regular savings accrue over time thanks to compound interest.
Handling tough times – in life’s rough periods, savings allow you to cover expenses without panic.
Wealth foundation – savings form the base for future wealth-building activities.
Final Takeaway
Ultimately, saving money empowers you with stability, freedom, and the ability to pursue meaningful life goals. If you haven’t begun yet, commit to a routine—use automatic transfers to your savings account—and start experiencing the peace and opportunity that come from having a financial fallback.
Managing money isn’t always easy—especially when juggling bills, debt, savings, and spending. Many Americans find it hard to keep up, and that’s where Albert comes in. Designed as an all-in-one finance assistant, Albert makes budgeting and money tracking simple and stress-free.
It works from your mobile phone, giving you access to your finances anytime, anywhere. From creating a smart budget to helping you pay bills and reduce debt, Albert packs everything into one clean platform. You can get started at https://albert.com/ and learn more. Albert might be your best bet if you’re looking for a tool that simplifies your money life.
Albert is built for users who want to manage their finances without feeling overwhelmed. Many other apps only focus on money manager expense tracking or savings. Albert does more. It combines key features that help handle money, build a budget, and plan long-term financial goals.
One of Albert’s standout features is the personalized spending plan. After connecting your bank accounts, Albert looks at your monthly income, fixed expenses, and spending habits. Then, it creates a plan that fits your lifestyle. The app breaks down what you can safely spend and what you should save. With clear visuals and a friendly layout, you get a real understanding of where your money goes.
How Albert Stands Out Among Many Best Budgeting Apps
There are several budgeting apps out there, but very few offer the flexibility and intelligence that Albert does. While some apps only track expenses, Albert offers deeper control through custom spending categories and a real-time, empowered personal dashboard.
Albert also includes features like automatic savings, credit reports, and insights on your full cash flow. You’ll see how much you earn, spend, save, and owe—all in one place. The app doesn’t just show numbers—it helps you make decisions. That’s why Albert ranks among the best budgeting tools and finance apps in the U.S.
Online Budgeting Tools That Actually Help
Regarding useful budgeting features, Albert covers all the basics and goes further. It includes:
Real-time expense tracking
Zero-based budgeting approach to give every dollar a job
Automatic sorting to categorize expenses
Suggested ways to save based on your past habits
Albert’s tools feel less like software and more like a smart assistant that learns from your patterns. It’s one of the few personal finance tools for budgeting that helps you act smarter with your money instead of just recording it.
Albert’s Free Version
Not everyone wants to pay for a finance app, especially starting out. Albert offers a free version that gives access to core budgeting tools. You can monitor spending, set savings goals, and get personalized insights without spending a dime.
The free app option allows people to try Albert before deciding if they want more advanced features. This is great for young adults, students, or anyone starting to build their financial knowledge.
Tackling Debt and Improving Your Net Worth
According to the Federal Reserve, over 45% of American households carry credit card debt. Albert helps reduce that burden. The app provides clear suggestions for debt repayment, often based on your available cash and spending habits. You’ll see how much to pay when to pay, and which balances to prioritize.
Albert also tracks your net worth in real-time. It pulls in all your accounts—from checking and savings to loans and investments—and gives you a snapshot of your current position. This big-picture view can be a powerful motivator to save and spend less.
Making Capital Budgeting Easier for Personal Use
While formerly personal capital budgeting analysis tools are often used by businesses, Albert brings similar logic to your everyday money decisions. Are you thinking about buying a car or planning a home improvement? Albert helps you see how that purchase would affect your savings and monthly budget.
These insights are helpful because they stop you from making quick decisions that can hurt your long-term goals. Instead, you can look at the numbers and confidently make smart moves. It’s financial thinking made simple for real life.
Keeping It All in One App
What makes Albert one of the best budgeting tools is how it combines everything in one easy-to-use place. With Albert, you no longer need multiple apps for different tasks. Here’s what you get in one platform:
Budget planner that updates in real-time
Full connection to financial accounts and credit cards
Track spending tools that sort and label transactions
Personal budgeting tools for income, expenses, and savings
Alerts when bills are due or spending rises
Snapshot of cash flow, balances, and upcoming bills
You can sort the data as per the account group easily
Sync accounts as easily as you can
Everything is designed to keep your financial life organized and on track. You’re not just looking at money—you’re managing it actively.
Albert vs. Other Free Budgeting Apps
Here’s how Albert compares with other budgeting apps:
Albert takes the stress out of personal finances when dealing with multiple accounts. With smart tools, easy-to-understand insights, and flexible budgeting options, it puts absolute control in your hands. Whether it’s paying bills, building savings, or managing credit, Albert makes everything easier—and it all starts with a single app on your phone.
FAQs
1. Can Albert help with yearly budgeting too?
Yes. Albert allows long-term planning, not just monthly breakdowns. You can set annual savings goals and track performance throughout the year for smarter decisions.
2. What happens if I overspend my budget with Albert?
Albert sends alerts and helpful suggestions so you can adjust. It also updates your plan automatically to help you stay on track the following month.
The paper delves into the theme of subversive entrepreneurship in Aravind Adiga’s The White Tiger, highlighting the intricate relationship between capitalism and moral conscience through the eyes of Balram Halwai. Balram’s transformation from a lowly servant in rural India to a thriving entrepreneur in Bangalore offers a sharp critique of a capitalist system that often prioritizes financial ambition over ethical values. The idea of subversive entrepreneurship is explored as a practice where individuals push against traditional moral boundaries in their pursuit of success. Balram’s journey is marked by difficult choices—most notably, his morally questionable actions, including murder—that expose the darker realities of capitalism, where the fight for survival often demands ethical sacrifices. Adiga presents capitalism as a double-edged sword: it provides pathways for upward mobility but also creates an environment filled with moral ambiguity. Through Balram’s internal struggles and justifications, we see the conflict between ambition and conscience, prompting important reflections on the true costs of economic freedom. The paper argues that The White Tiger challenges readers to rethink the ethical implications of entrepreneurship, questioning the idea that success is always virtuous while illuminating the sacrifices that often accompany it. Balram’s story not only critiques the nature of personal ambition but also serves as a poignant commentary on the moral emptiness that can arise from an unrelenting quest for economic gain in today’s competitive landscape.
Keywords: Subversive entrepreneurship, capitalism, moral conscience, social mobility, justification of actions, moral compromise.
Introduction
Aravind Adiga’s The White Tiger offers a deeply moving look at the complexities of modern India, intertwining themes of ambition, morality, and the harsh realities of capitalism. Central to this narrative is Balram Halwai, a man born into poverty ridden Darkness who daringly transforms his life through what can only be described as subversive entrepreneurship. His journey becomes a powerful lens through which it can be explored the relationship between economic systems and ethical considerations in a rapidly evolving society. When it is thought of entrepreneurship, we often envision innovation, risk-taking, and ethical business practices. Adiga challenges this conventional view, suggesting that entrepreneurship can also be a double-edged sword. Balram’s transformation from a servant in rural India to a successful entrepreneur in Bangalore illustrates the conflicting pressures within a capitalist framework, where ambition can require painful moral compromises. His path isn’t just about achieving wealth; it forces to question the very nature of conscience and ethics. In a society where wealth equates to power, Balram’s story reveals an often-overlooked truth. The pursuit of success can lead people to forsake their moral principles. He captures this stark reality when he observes that the best way to keep the poor man down is to keep him from the money. This insight highlights the systemic barriers that maintain inequality and underscores Balram’s determination to escape his circumstances. Yet, this journey is fraught with ethical dilemmas, prompting him to question what it truly means to be free.
Balram’s experience serves as a broader critique of neoliberal capitalism, where personal ambition often collides with societal norms and ethical standards. As he navigates the perilous waters of entrepreneurship, his choices reflect a conscious departure from traditional morality. His drastic actions, including murder, become a radical assertion of agency in a world that often sidelines the poor and marginalized. In this light, The White Tiger invites to confront uncomfortable truths about the moral costs associated with economic ambition. It raises vital questions firstly, whether it truly means to succeed in a system that rewards ruthlessness and secondly at what point the pursuit of personal gain overshadows one’s responsibilities to others? Through Balram’s transformation, the novel encourages to rethink one’s understanding of entrepreneurship—not merely as a virtuous endeavour, but as a complex interplay of ambition, ethics, and survival. The paper will delve into these themes, analysing how Balram Halwai embodies subversive entrepreneurship and the implications of his actions within the broader socio-economic landscape of India. By examining the connection between capitalism and conscience in The White Tiger, it can gain valuable insights into the moral challenges faced by individuals navigating the intricate dance of ambition in an increasingly competitive world.
In The White Tiger, Aravind Adiga offers a rich and layered perspective on entrepreneurship that goes beyond the typical definitions it often encounters. Subversive entrepreneurship, as it is portrayed, involves challenging established norms and ethical boundaries in the relentless pursuit of success. This form of entrepreneurship doesn’t just seek profit; it questions and often undermines existing social and economic structures. Through the character of Balram Halwai, Adiga observes the moral compromises that frequently accompany the desire for upward mobility in a capitalist society.
Subversive entrepreneurship sets itself apart from traditional entrepreneurship, which typically focuses on innovation and business growth. Instead, it embodies a conscious choice to confront the status quo, often stepping outside recognized ethical frameworks. This can take various forms, including unethical business practices, exploitation of labour, or even criminal actions—each of which may be justified as necessary for survival or success. Jennifer Klein (2015, p. 850) asserts, “Subversive entrepreneurship distinguishes itself by prioritizing social change and challenging existing power structures, rather than merely focusing on innovation and market growth”. Balram’s journey perfectly illustrates this concept. Born into a caste of servants and mired in poverty driven Darkness, he becomes acutely aware of the barriers to success in India. Balram reflects, “The greatest thing to come out of this country in the ten thousand years of its history is the Rooster Coop” (Adiga, 2017, p.173). This statement captures the struggle of the underprivileged, whose dreams are often stifled by societal constraints. Balram’s transformation from a servant to a successful entrepreneur isn’t just about accumulating wealth; it’s a rebellion against a system designed to keep him in his place. This system is predominant from the old ages which is difficult to break for the people of Darkness.
Capitalism has its dark side which is usually hidden from the masses. The rebellion against the capitalism is the product of capitalism itself. Arundhati Roy (2014, pp. 78) hints that the poverty created by capitalism often drives people to embrace illegal activities as a form of resistance against an oppressive economic order. In order to emphasis the fact of dark side of capitalism, Michael Parenti (2004) proposes that the criminalization of the poor in a capitalist system can be seen as a reaction to their inability to thrive under conditions that favour wealth accumulation for the few. Adiga doesn’t shy away from exploring the darker aspects of capitalism, showing how the quest for profit can lead individuals to make morally questionable choices. Balram’s journey is riddled with ethical dilemmas, culminating in the murder of his employer—a desperate act he rationalizes as a means of liberation.
Why not? Am I not a part of all that is changing this country? Haven’t I succeeded in the struggle that every poor man here should be making—the struggle not to take the lashes your father took, not to end up in a mound of indistinguishable bodies that will rot in the black mud of Mother Ganga? True. (Adiga, 2017, p. 318)
This moment marks a significant turning point, emphasizing how the hunger for economic freedom can push someone to extreme actions. Supportive analysis from scholars reinforces this view of Balram’s choices. For instance, Amartya Sen (1999, p. 95) discusses the moral implications of ambition and success within economic systems, noting how ethical considerations can often be overshadowed by personal ambition. Balram’s justifications for his actions shed light on the complexities of subversive entrepreneurship. He sees his criminal acts as necessary steps toward his ultimate goal, encapsulating the belief that success is worth any price. This mindset is a reflection of the survival theme prevalent in a system that often marginalizes the poor. Balram states, “You see, I’m always a man who sees “tomorrow” when others see “today” (Adiga, 2017, p. 319). The statement underscores his pragmatic approach to entrepreneurship, where financial success becomes paramount, regardless of the ethical implications.
Balram’s rationalizations for his actions reveal his effort to reconcile his ambitions with his sense of self. He wrestles with what it means to be a “good” person in a world that seems to reward the opposite. He acknowledges himself as, “just a servant” (Adiga, 2017, p. 129), recognizing the societal expectations that constrain him. This realization complicates his conscience, as he feels justified in his actions by the oppressive structures around him. Zygmunt Bauman (2007, p. 81) explores the moral challenges of contemporary society, particularly how individuals navigate ethical compromises in a rapidly changing economic landscape. The White Tiger exposes the grim realities of a society where ethics are sacrificed on the altar of success emphasizing the tragic consequences of Balram’s choices. Scholars have explored the implications of these rationalizations within the context of neoliberal capitalism. Robert Putnam (2000) discusses how social capital and economic disparity can influence moral considerations, noting that often, the means become secondary to the ends. The critique highlights how societal pressures can warp ethical considerations, compelling individuals like Balram to adopt subversive strategies to achieve their dreams.
Balram’s decision to commit murder—a choice he rationalizes as necessary for liberation—underscores the complexities of conscience within the context of subversive entrepreneurship. He sees his crime as a necessary evil, stating, ‘‘and once the master of the Honda City becomes corrupted, how can the driver stay innocent?’’ (Adiga, 2017, p. 197). This mindset reveals how the relentless pursuit of economic gain can lead individuals to justify unethical behaviour. Ananya Roy in Poverty Capital (2010, p. 102-103) hints that a world where the moral compass is often overshadowed by the allure of wealth, even the most well-meaning individuals can be corrupted by the seductive power of capitalism. It suggests that Balram’s actions reflect a broader societal trend where ethical considerations take a backseat to financial success. Balram rationalises his deed as the right step to become free from the servitude: ‘‘even if they throw me in jail and have all the other prisoners dip their beaks into me—even if they make me walk the wooden stairs to the hangman’s noose—I’ll never say I made a mistake that night in Delhi when I slit my master’s throat’’ (Adiga, 2017, p. 320). This perspective highlights how capitalism can create a moral vacuum, pushing individuals to navigate their conscience in an environment that frequently rewards greed over integrity.
Despite the ethical compromises he makes, Balram’s journey is also one of seeking agency and empowerment. By breaking free from the confines of his caste and socioeconomic status, he represents the idea that entrepreneurship can be a pathway to social mobility. However, this empowerment comes at a significant moral cost, raising critical questions about the true nature of freedom within a capitalist society.Balram realises thathe has to break the shackles of servitude which is akin that of the Rooster Coop. He knows that if he fails to do so, he would be the part of 99.9 percent caught in the Rooster Coop. “It’s because 99.9 percent of us are caught in the Rooster Coop just like those poor guys in the poultry market” (Adiga, 2017, p. 175). In analysing Balram’s choices, it becomes clear that his entrepreneurial spirit serves both as a means of survival and a form of rebellion against oppressive structures. David Harvey (2005, p. 68) discusses how individual success in a neoliberal context often involves a rejection of ethical norms. Balram’s success is deeply intertwined with a rejection of ethical norms, prompting readers to consider the consequences of such subversive paths. Moreover, the atmosphere around Balram compels him to break the shackles of servitude. The negligence on the part of his master towards him is the prime reason to negate his moral conscious. Earlier, he has been careful to Ashok but soon he realises capitalist mentality of masters. He begins to take pride in robbing his master. ‘‘The strangest thing was that each time I looked at the cash I had made by cheating him, instead of guilt, what did I feel? Rage. The more I stole from him, the more I realized how much he had stolen from me’’ (Adiga, 2017, p. 231). This very point is the beginning of receding his moral conscious towards his master. He laments: “A handful of men in this country have trained the remaining 99.9 percent—as strong, as talented, as intelligent in every way—to exist in perpetual servitude; a servitude so strong that you can put the key of his emancipation in a man’s hands and he will throw it back at you with a curse”. (Adiga, 2017, p. 175-76)
His experience illustrates the tension between personal ambition and social responsibility. Ultimately, Balram asserts his identity through subversive means, though this comes at a considerable moral cost. He declares, “But your heart has become even blacker than that, Munna” (Adiga, 2017, p. 265), showcasing the inner conflict between his aspirations and the guilt that accompanies his actions. Balram’s ascent is fraught with profound internal conflict, especially as he confronts the moral weight of his decisions. At first, he embodies a strong sense of right and wrong, rooted in the values instilled in him during his upbringing. He reflects, “I could gloat that I am not just any murderer, but one who killed his own employer (who is a kind of second father)” (Adiga, 2017, p. 45). However, as he delves deeper into the corrupt world of wealth and power, he increasingly finds himself at odds with these values. He candidly admits that he is the murderer of his master, ‘‘I slit Mr. Ashok’s throat’’ (Adiga, 2017, p. 42), acknowledging the drastic measures he took to escape his class constraints. This admission encapsulates Balram’s struggle with his conscience as he weighs his yearning for freedom against the ethical fallout of his actions. His journey serves as a broader commentary on how economic pressures can warp one’s moral compass. As he reflects, “Like all good Bangalore stories, mine begins far away from Bangalore. You see, I am in the Light now, but I was born and raised in Darkness” (Adiga, 2017, p. 14). It becomes evident that his pursuit of success comes at a significant loss of innocence.
Balram becomes the successful entrepreneur in Bangalore under the identity of Ashok Sharma. He is at the acme of his success in terms of wealth and affluence but he cannot enjoy devoid of his family members. He repents that he, “also contributed to the probable death of all his family members. A virtual mass murderer” (Adiga, 2017, p. 45). The sense of guilt is pricking him every now and then. He is man of dark soul now which is irreversible. “True, there was the matter of murder—which is a wrong thing to do, no question about it. It has darkened my soul. All the skin-whitening creams sold in the markets of India won’t clean my hands again” (Adiga, 2017, p. 318). This duality reflects a broader commentary on the nature of conscience in a capitalist society. Balram’s transformation challenges the notion that success must be achieved through ethical means, encouraging readers to ponder the implications of such choices. As Vivek Chibber in Postcolonial Theory and the Specter of Capital (2013) suggests that in a world where the pursuit of wealth dominates, the individual’s moral integrity often becomes collateral damage.
Aravind Adiga’s The White Tiger offers a gripping look at the complex relationship between capitalism and conscience, as seen through the eyes of Balram Halwai. His journey from a humble servant to a thriving entrepreneur illustrates the often-murky waters of subversive entrepreneurship, where the drive for success can come at a steep ethical price. As Balram navigates this challenging terrain, he faces the stark realities of a society that frequently prioritizes economic gain over moral values, pushing him to make choices that defy conventional ethics. The novel challenges readers to confront uncomfortable truths about the sacrifices that ambition demands in a world that seems to reward those who are willing to be ruthless. Balram’s most shocking act—killing his employer—marks a turning point in his life, revealing how his yearning for freedom can eclipse his sense of right and wrong. This moment not only highlights the moral compromises that often accompany the pursuit of wealth but also raises pressing questions like whether it truly means to be successful in a system that often punishes integrity and for the pursuit of personal gains overshadow ethical responsibility.
Adiga paints capitalism as a double-edged sword, offering opportunities while simultaneously creating moral dilemmas. Balram’s internal struggles reflect the broader conflict many people face in their own lives, where the seductive promise of wealth can blur the lines of conscience. His attempts to justify his actions mirror societal values that often prioritize profit over principle, urging us to think critically about the structures that shape our choices. In exploring Balram’s story, The White Tiger invites us to reconsider what we define as success and the moral implications that come with it in today’s capitalist landscape. It challenges the idea that entrepreneurship is inherently virtuous, revealing a reality where the quest for economic freedom often entails significant moral costs. Adiga’s narrative serves as a poignant reminder that in our relentless chase for ambition, our conscience can easily be sidelined, prompting us to reflect on the ethical dimensions of our pursuits and their broader societal impacts. Ultimately, The White Tiger is more than just a tale of personal triumph; it’s a powerful commentary on the moral complexities we face in an increasingly competitive world.
References:
Adiga, Aravind. (2017). The White Tiger. Noida: HarperCollins Publishers India.
Chibber, Vivek. (2013). Postcolonial Theory and the Specter of Capital. London: Verso Books.
Harvey, David. (2005). A Brief History of Neoliberalism. Oxford: Oxford University Press.
Klein, Jennifer. (2015). The Emergence of Subversive Entrepreneurship: A New Approach to the Concept of the Entrepreneur. Journal of Business Ethics, 129(4), 845-860.
Parenti, Michael. (2004). Against Empire. San Francisco: City Lights Books.
Putnam, Robert D. (2000). Bowling Alone: The collapse and Revival of American Community. New York: Simon & Schuster.
Roy, Ananya. (2010). Poverty Capital: Microfinance and the Making of Development. New York: Routledge.
Roy, Arundhati. (2014). Capitalism: A Ghost Story. Chicago: Haymarket Books.
Sen, Amartya. (1999). Development as Freedom. New York: Alfred A. Knopf.
Loan apps have emerged as a significant force in the fintech industry, offering convenient access to quick cash loans through mobile applications. Loan apps are mobile applications that allow users to borrow money quickly and conveniently using their smartphones. These legit earning app typically offer small, short-term loans with minimal documentation requirements and fast approval processes. The loans are often disbursed directly to the user’s bank account or mobile wallet, making them accessible to individuals, including those without access to traditional banking services.
Interest and Fees
One of the primary ways loan apps make money online is through the interest and fees charged on the loans they provide. These loans often come with high interest rates and additional fees, such as processing fees or late payment penalties. While the convenience and accessibility of these loans appeal to users in quick cash, the cost of borrowing can be substantial, resulting in significant profits for the loan app providers.
Volume of Transactions
Loan apps benefit from a high volume of transactions due to the large user base and frequent borrowing activity. With millions of users accessing these apps to borrow money for various purposes, the cumulative effect of numerous small loans adds to substantial revenue for the providers. The ease of use and instant approval processes encourage users to borrow repeatedly, contributing to the app’s revenue stream.
Cross-Selling and Up-Selling
Many loan apps employ cross-selling and up-selling strategies to maximise their revenue potential. In addition to offering loans, these legit earning app may promote other financial products and services, such as insurance, investment opportunities, or credit monitoring tools. By leveraging user data and behavioural patterns, loan app providers can target personalised offers to users, increasing the likelihood of additional purchases and generating income streams.
Advertising and Partnerships
Loan apps often monetize their platforms through advertising and partnerships with third-party companies. They may display targeted ads within the app interface or collaborate with other businesses to promote their products or services to app users. These advertising arrangements generate revenue for the loan app providers through ad impressions, clicks, or lead generation, while also providing additional value to users through access to relevant offers and discounts.
Data Monetization
Another lucrative aspect of loan apps is the monetization of user data. This data is valuable to advertisers, marketers, and financial institutions seeking insights into consumer behaviour and preferences. Loan app providers may anonymize and aggregate user data before selling it to third parties or leveraging it for targeted marketing campaigns, creating an additional revenue stream.
Referral Programs
Many loan apps incentivize users to refer friends, family, or acquaintances to the platform through referral programs. Users are rewarded with cash bonuses, discounts, or other incentives for each successful referral that results in a loan application or funding. Referral programs help loan apps attract new users but encourage existing users to remain active and engaged with the platform, ultimately driving revenue growth through increased loan volume and user acquisition.
Risk Management and Loan Recovery
While not directly a source of revenue, effective risk management and loan recovery strategies are crucial for the long-term sustainability and profitability of loan apps. These apps invest in advanced algorithms, machine learning models, and data analytics tools to assess the creditworthiness of applicants and mitigate the risk of defaults and delinquencies. By minimising losses associated with non-performing loans, loan app providers safeguard their revenue streams and maintain the confidence of investors and stakeholders.
Regulatory Considerations
Compliance with applicable laws and regulations is crucial to avoid fines, penalties, or reputational damage that could impact the app’s revenue and viability in the long run. Adhering to ethical business practices and prioritising customer satisfaction is essential for building trust and maintaining a positive reputation in the market.
Ok tomorrow is Monday, the first day of the week and as usual everyone just hate this day. By just heard the Monday, the very first thing which comes in mind is Bloody Monday . And this is a fact, most of the cases of heart attack occures on monday, said in a report. Because there is a thinking behind this universe that Monday is not having that much work just like other days, so there is no point to go on work, this leads to be the laziness and after a week off, nobody like to move from their comfort zone and enjoys. But after all this fun the very first thing which made to come up on that day just our responsibility and it’s not bad at all, we all are responsible for someone, someone may be the family, company, students, patients, workers and for yourself.
Start-ups (which indirectly fall under MSEs category of taxation) since 2014 have collected around $100 billion and are on the ever-accelerating way to mark its way to $500 billion by 2025, with a projection to create over 35 – 40 lakh jobs.
It was a beautiful day for Mr. Singh. He had invested in an idea introduced by a bunch of boys who had recently graduated out of an Engineering College. It was something related to irrigation technology with the name “Ivy-Irri Tech”. Mr. Singh had no idea what it was, but his financial advisor and accountant advised him that the investment would garner good profit in a very short period of time. After he found everything to be appropriate, he wrote off a check for Rs 3 crore for 3,000 shares to Ivy-Irri Tech boys. Today, he received the triple of his investment (i.e., Rs 9 crore) as the start-up was brought under the banner of a multinational corporation (MNC).
Mr. Singh was indeed an ‘angel’ who invested in the start-up seeing the growth projection as calculated by the discounted cash flow (DCF) method. He knew and took all the risks on the idea. Like Mr. Singh, there are a number of high-value individuals in our nation who are approached to invest in a small idea, which the ones presenting are able to convince (or show) to be of big worth in a short period of time.
A few days went by and the boys again contacted him over the notice they received from the Income Tax Dept. The notice stated that they had to pay 30% as ‘Angel Tax’ clause of Section 56(2)(vii b) of the Income Tax Act, 1961.
These start-ups operate in a very vulnerable environment and anything can happen any moment. All the money made in the first half of the day may just vanish off by second. The basic principle of start-ups is a low investment to high yield, in less time.
According to Economic Times, “Angel tax is a term used to refer to the income tax payable on capital raised by unlisted companies via the issue of shares where the share price is seen in excess of the fair market value of the shares sold. The excess realisation is treated as income and taxed accordingly.” This is charged when the initial “angel” investor is an Indian, while foreigners are exempted from it as that’d just add more to Foreign Direct Investments (FDI) category. Also, the value of start-ups is counted against the industry suggested method of DCF with the net value present (NVP) method that increases the difference between the projected margins to the excess premium earned.
Hence, nowthe start-up will have to pay the excess of what they received of initial capital (i.e., Rs 3 crore). In shares & dividend terms – Mr. Singh bought 3000 @ Rs 10000 each. He sold them (the startup sold it to the MNC) at a premium (excess from Market Value – profit) of Rs 30,000 for each share. Hence, for 3000 shares the excess profit is Rs 6 crore. Now 30% of Rs 6 crore is Rs 1.80 crore and that is what the start-up is charged as “Angel Tax”.
This is a major de-motivation to the hardworking, innovative minds that have worked hard to put up the efforts to bring their dream into happening, just like the “Ivy-Irri Tech” chaps and returned the initial investment in a triple in less than some years, but now are a victim of the ‘Angel Tax’.
However, the income tax regimes in our nation, which are duly unregulated at the helm of dysfunctional bureaucracy and call for immediate reforms at a great extent, do not spare even the ‘angels’. This taxation regime has led to the inclination of angel investors into investing in tech start-ups and deviating from the non-tech cohorts. The falling of start-ups into MSEs category, the very narrow definition of start-ups, and the bureaucracy which looks for an opportunity to put to their advantage, are the reasons for non-tech start-ups being not worth investment against hassles.
Of the limited few exemptions in Angel Tax, the angel investors tend to avoid the non-tech sector as there’s a very obstructive measure which restricts the investment into immovable objects. So if the start-up in non-tech sectors, would involve investment in immovable assets (which is the case in most non-tech start-ups) then the investment would not fall into exemption into start-up’s seed funding and thereby incurring additional taxation. The ruling Govt. has presented a very ambitious plan to lead India to a $5 trillion economy for which there needs to be a safe growth rate in the economy at 11.3% (also assuming rupee falls to the dollar, further) for the next five years with no exception contrary to the present which is less than 4%. Further, with Moody’s downgrading India to ‘Baa3’ category, just one rank above “junk” category, the onset of FDIs flowing into Indian start-ups seems reclusive and does not seem to recover anytime soon. So, the Income Tax Act, 1961 needs to reform from its very core to match up the economic challenges of the 21st century for Indian investors to keep the market afloat and its operations flared up. Time is money, and neither of that we do have.
Crypto currency is something that everyone wants to talk about but very few have the idea about how it works.
Since human civilization has emerged, the currency has been a very crucial part of their lives. In the caveman era, they used to exchange their things which are famously termed as “barter system”. Suppose, Ram has seven mangoes and his friend has seven apples but Ram needs seven apples. What can Ram do now? He can exchange his goods with his friend via the barter system. But there were various flaws in barter system like lack of a common measure of value (seven apples may not have the same value as seven mangoes), lack of double coincidence of wants, unable to divide into smaller units etc.
After realizing that the barter system did not work very well, and thus currency went through a few recurrences in 110 BC; later “Currency” was coined officially. Thousands of 250 AD gold plated Florence was introduced which was only used in limited countries. From 1680-1980, the paper currency gained significant popularity and was used across the world. This is how modern currency came into existence.
Modern currency included paper currency, coins and credit cards and digital wallets like Amazon Pay, PhonePe and so on.
WHAT IS CRYPTO CURRENCY?
It is a new form of digital resource or virtual currency based on a network that is distributed across a huge number of devices.
The word “crypto currency” is derived from the encryption technique which is used to secure the end to end networks.
All the digital wallets (PhonePe, PayPal, Paytm etc.) are controlled by banks and governments. This means it is regulated by authorities and it may increase some hazards like a technical issue at the bank while transferring money, limited transaction and so on. This is why the future with currency lies with crypto currency. There are more than 1600 crypto currencies are available. Bitcoin, Litecoin, Ethereum, Z-cash are some popular ones.
PERKS OF CRYPTO CURRENCY:
Self-governed and well organized.
Payment can be processed within a few minutes.
Authentication of users’ identity.
Removes all the problems of modern banking.
The unlimited fund can be transferred.
Cost-effective mode of transaction.
Decentralized and secure.
CRYPTO CURRENCY VS BITCOIN:
Bitcoin is also a digital currency that utilizes crypto currency and it is regulated by decentralized authority unlike government-issued currency whereas the crypto currency uses encryption technique which acts as an intermediate for the different financial transactions all over the world.
DRAWBACKS OF CRYPTO CURRENCY:
There is no restriction to illegal transactions.
More prone to hacks.
Limited crypto currencies can be traded only in one or a few fiat currencies.
CRYPTOCURRENCY AND TODAY’S WOLRD:
The whole world is distinctly divided when it makes headway to crypto currency. On one side, there are supporters like Bill Gates, Richard Branson who believe that crypto currencies are better than regular. And on another side, people like Warren Buffet, Paul Krugman who are absolutely against the crypto currency. They both are Nobel Prize winners in Economics and they think it is a fraudulent investing scam and means for criminal activities.
It can be assumed that in the future there is going to be a conflict between regulation and anonymity as crypto currencies ensure that its users are kept anonymous. Despite having some disputes, the use of crypto currencies in the merchant’s navy is increasing, which carries a positive vibe.
By the year 2030, crypto currency would captivate 25% of national currencies which is a notable chunk of the globe and that would be a remarkable step in economical evolution.
International Journal of Research (IJR) 
