Brands
Festive cheer runs on fast-track loans this year
MUMBAI: Loans are getting festive makeovers! This season, it’s not the lowest interest rate that’s stealing shoppers’ hearts, but how fast the money hits their accounts. A new survey by Paisabazaar reveals that borrowers are now choosing lenders who can deliver funds at lightning speed, with 42 per cent prioritising instant disbursal and hassle-free digital processes over cheaper rates.
The survey, conducted among over 10,200 respondents, paints a picture of convenience-first borrowing. While 25 per cent still chase the best rate, the rest are swiping right on simplicity, opting for platforms that make the process swift, paperless, and seamless.
Digital finance clearly has its fanbase, 80 per cent of respondents said they prefer guided online marketplaces like Paisabazaar to compare and apply for loans. Over half of them (53 per cent) believe faster approvals and disbursals would make borrowing even smoother.
“The growing comfort among consumers to take personal loans, not just for essentials, but for aspirations, lifestyle, and festive spends, shows a more confident and mature credit mindset,” said Paisabazaar CEO Santosh Agarwal.
And what are people borrowing for? Home renovation and furnishing topped the charts at 18 per cent, followed by shopping, gadgets, and gifts at 15 per cent. Gold and jewellery (12 per cent), debt consolidation (10 per cent), and fashion and lifestyle (10 per cent) rounded out the festive wish list.
Interestingly, nearly 60 per cent of borrowers took loans below Rs 5 lakh, and 42 per cent opted for repayment tenures under five years, proof that India’s festive spirit is being powered by smart, manageable credit. Looks like when it comes to personal loans, speed and simplicity are the new sparkle of the season.
Brands
Apple CEO Tim Cook to step down after 15 years, John Ternus to take over
Leadership shake-up sees long-time hardware chief step up from September
CUPERTINO: Apple has confirmed that chief executive officer Tim Cook will step down from his role and transition to executive chairman, with senior vice president of hardware engineering John Ternus set to take over as CEO from September 1, 2026.
The transition, approved unanimously by the board, marks a carefully planned leadership shift at one of the world’s most valuable companies. Cook will remain CEO through the summer, working closely with Ternus to ensure a smooth handover before moving into his new role, where he will continue to support Apple and engage with policymakers globally.
In a memo to employees, Apple CEO Tim Cook reflected on his 15-year tenure, recalling the moment Steve Jobs asked him to step into the role. “It was an emotional and challenging moment for all of us at Apple,” he wrote, adding that the company’s core values, from simplicity and innovation to a commitment to improving lives, remain unchanged.
Explaining his decision, Cook said the company’s strong roadmap and future outlook made this the right time for a transition. “I have never been more optimistic about Apple’s future,” he noted, while announcing Ternus as his successor. He described Ternus as “a visionary in his own right” with “remarkable integrity” and the right leader to guide Apple into its next phase.
Cook said, “John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honour.”
Ternus, in his own note to employees, struck a steady, execution-focused tone. Ternus said, “It has been such a privilege to lead the hardware engineering team… I still plan to be very hands-on,” signalling continuity rather than a strategic reset.
As part of the leadership reshuffle, Ternus will step away from leading hardware engineering, with Tom Marieb taking over the role. Marieb will report to Johny Srouji, who assumes an expanded position as chief hardware officer, aligning hardware development more closely with Apple’s silicon and technology teams.
Cook also used his memo to thank employees, calling them “the most remarkable people in the world” and crediting them for building Apple into what it is today. A town hall has been scheduled at the Steve Jobs Theater to discuss the transition further.
The leadership change also sees Arthur Levinson move to the role of lead independent director, while Ternus joins Apple’s board.
Cook’s tenure has been defined by massive growth and expansion, with Apple’s market value rising from around $350 billion in 2011 to $4 trillion, alongside the launch of new product categories and a booming services business. Ternus, a 25-year Apple veteran, has played a central role in shaping the company’s hardware roadmap, from iPhone and Mac to newer innovations in materials and sustainability.
The transition signals a generational shift, but not a dramatic change in direction. If anything, both memos point to continuity, discipline and a belief that Apple’s next chapter will be built on the same values that shaped its last.
