The Reserve Bank of India (RBI) announced new rules for credit cards, applicable from July 1. "These directions cover the general and conduct regulations relating to credit, debit and co-branded cards which shall be read along with prudential, payment and technology & cyber security related directions applicable to credit, debit and co-branded cards, as issued by the Reserve Bank," the circular by RBI said. Business Standard culled out key rules from the list, and asked financial experts for advice on them, along with the thumb rules one needs to follow while using credit cards.
The Reserve Bank of India (RBI) has recognised the Fintech Association for Consumer Empowerment (FACE) as a self-regulatory organisation (SRO) in the fintech sector, the central bank announced on Wednesday. The banking regulator received three applications for fintech SRO. Of the remaining two applications, one has been returned by the RBI with a provision for resubmission after meeting specific requirements, while the third application is still under examination, said Governor Shaktikanta Das at the Global Fintech Fest in Mumbai.
Assam Chief Minister Himanta Biswa Sarma believes that the BJP could win more seats in the state by aggressively campaigning in minority-dominated areas. He attributed the party's recent success in the bypolls to its beneficiary schemes, which he claims have garnered support from the minority community. Sarma emphasized that the BJP will continue with its development work for all communities and has no plans for appeasement. He also gave an update on the Guwahati-North Guwahati bridge project, which is progressing well and is scheduled to be opened to the public in July 2025. Sarma also hinted at a possible cabinet reshuffle in the coming months.
Forbes magazine has honoured Bandhan of being the world's largest micro finance institute.
At a time when banks are engaged in a fierce battle to gain market share in the credit card segment, Citibank India has been losing its share, both in terms of outstanding cards and spends in the last few years. Still, average spends on Citi cards are higher than any other Indian bank. Last year, the global banking behemoth announced exit from its consumer banking franchises in 13 markets across Europe, Middle East and Asia, including India, citing lack of scale.
"Less than two week back, we faced a set of allegations from the US about compliance practices. This is not the first time we have faced such challenges. What I can tell you is that every attack makes us stronger," he said addressing the 51st Gems and Jewellery Award in Jaipur.
In India, the drug is not licensed for weight loss. but as anti-diabetic medication, warns Dr Chandrakant Lahariya.
The FIR also mentioned that the unidentified individual stated that Chaubey should be careful of his decisions and other actions.
Ding will face a stern challenge from the 18-year-old Gukesh, who "doesn't make any mistakes at all" and has had a terrific run in 2024.
The world is celebrating Raj Kapoor's birth centenary, but when was the last time you watched an RK film?
Norman Pritchard: Colonised India's first athlete to win 2 medals in same Olympics
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Moody's Ratings on Tuesday projected general government debt to stabilise above 80 per cent of GDP over the next three years, down from 89.3 per cent in 2020-21. "General government interest payments to fall to around 24 per cent of general government revenue over the next two years from over 28 per cent in fiscal 2020-21, although this remains much higher than the median 8.7 per cent recorded by Baa-rated peers," Moody's Ratings associate managing director Gene Fang said in a post-Budget reaction.
'When the scores are low, we had an off-one in the field. But yeah, got to give credit where credit is due and Afghanistan were pretty good.'
In order to boost its deposit base, State Bank of India (SBI) is focusing on various segments, including JanDhan account holders, trusts, societies, and the segment below the affluent class but above the normal account holders. According to Ashwini Tewari , managing director, SBI, the bank is focusing on three broad segments. One is wealth banking, where the bank is focusing on individuals who perhaps do not qualify for private banking but are above regular accounts and require individual attention.
Do not underestimate the ingenuity of the Deep State in America to have its way. Keeping the guard down will be a catastrophic mistake on the part of the Delhi establishment. We could get hit when least expected. That's what happened in Bangladesh and Syria, warns Ambassador M K Bhadrakumar.
Images from Day 2 of the second Test between India and New Zealand at the Maharashtra Cricket Association Stadium in Pune on Friday.
After a wait of 20 years, Pinki Haryan is a qualified doctor raring to serve the destitute and give them a better life.
Sarfaraz was loudly telling the world that he is no longer a replacement, but a firm contender for a slot in the first eleven even when Shubman Gill's stiff neck is healed.
Markets regulator Sebi has barred industrialist Anil Ambani, 24 other entities, including former key officials of Reliance Home Finance from the securities market for five years for diversion of funds from the company. Sebi has imposed a penalty of Rs 25 crore on Ambani and restrained him from being associated with the securities market including as a director or Key Managerial Personnel (KMP) in any listed company, or any intermediary registered with the market regulator, for a period of 5 years.
The facility to exchange or deposit Rs 2,000 banknotes will not be available on Monday, April 1, 2024 due to operations associated with the annual closing of accounts, the Reserve Bank of India (RBI) said on Friday. The facility will resume on Tuesday (April 2, 2024) at the 19 issue offices of the RBI, it added. "The facility of exchange/deposit of Rs 2,000 banknotes will not be available on Monday, April 1, 2024 at the 19 issue offices of the Reserve Bank of India due to operations associated with the annual closing of accounts," it said.
Exporters on Thursday demanded fiscal incentives, tweaking in customs duties on certain products and credit at affordable rates in the forthcoming Budget to boost exports and create jobs. In a pre-budget virtual meeting with Finance Minister Nirmala Sitharaman, the Federation of Indian Export Organisations (FIEO) said the depreciation of the rupee against the US dollar is affecting exports' competitiveness and the sector requires more support. "Creation of employment is the biggest challenge faced by the country...We would urge the government to provide fiscal support to units which provide additional employment in the export sector," the exporter's body said.
The new asset class (NAC) proposed by the market regulator could see diverse product offerings with high-risk strategies across equity and debt if the mutual fund (MF) industry's recommendations are incorporated into the final regulations. While the Securities and Exchange Board of India (Sebi) has suggested relaxations in investment norms for NAC compared to traditional MFs, some fund houses are advocating for further relaxations in concentration norms, greater flexibility in leverage, and the ability to invest in securities currently outside the MF domain, such as unlisted debt papers and debentures, sources reveal.
Mehmood and R D Burman shiver, wail and flail when they encounter a stuffed tiger that wags its tail, furniture that moves on its own volition and dancing skeletons and mummies. Dinesh Raheja revisits a must-watch.
LIC Housing Finance (LICHF) delivered a healthy FY24 with improvements in net interest margin (NIM) and credit costs and an improved return on assets of 1.7 per cent compared to an average of 1.3 per cent between FY14-FY23. Loan growth was low due to technology upgrades to the platform in H1FY24, though momentum improved in H2FY24. In Q4FY24, the net interest income (NII) came in at Rs 2,250 crore.
'Trump will absolutely back New Delhi on its position that Pakistan must do more to crack down on terrorists that threaten India.'
'To everyone voting for Trump, I have only this simple question: Would you let him have lunch with your daughter or sister or wife or mother?' 'Then why would you let him have our lunch (and so much more) for four more years?', asks Sree Sreenivasan.
Fintech firm One97 Communications, owner of Paytm brand, is laying off an undisclosed number of employees and claimed that it is providing outplacement support for their smooth transition, according to a company statement. Paytm's sales employee headcount in March 2024 quarter dropped by about 3,500 to 36,521 personnel on a quarter-on-quarter basis, mainly due the impact of the Reserve Bank of India's ban on services of Paytm Payments Bank.
Ratan was extremely ethical in his dealings, which he brought to bear on the business house which he helmed, remembers Sailesh Kottary.
Perhaps Kay Kay Menon should choose his projects carefully, instead of wasting his talent like this, observes Deepa Gahlot.
'If the portfolio growth rate is higher, take this loan. If it is lower, liquidate your investments.'
'He is the only president, the only American politician, who had the guts to stand with Hindus.'
Did you know Dev Anand worked as a clerk at a salary of Rs 85 before he became an actor?
Agra has long been known for the Taj Mahal, but it is also a manufacturing hub filled with micro, small and medium enterprises (MSMEs) that make everything from electronic components to metal products, from paints and chemicals to footwear. And five years after the introduction of the Goods and Services Tax (GST), the MSMEs here complain that while the indirect tax regime has been transformative, cutting out the need to file multiple taxes, its biggest drawback has been the delay in credit refunds. Whoever you speak to - MSME owners, tax lawyers, or industry bodies like the National Chambers of Industries and Commerce (NCIC), Agra Footwear Manufacturers and Exporters Chamber (AFMEC) and Agra Shoe Manufacturers Association (ASMA) - they all emphasise that the GST continues to face some key challenges.
Ahead of the fifth and final Test match in Dharamshala, India skipper Rohit Sharma gave a witty reply to England opener Ben Duckett's comment that Yashasvi Jaiswal started playing aggressively after getting influenced by Bazball.
When it comes to the Congress and Wayanad, the only way the scepticism in the minds of some in Kerala may be addressed is by the Gandhi family proving that they are more than a passing caravan in town, reports Shyam G Menon.
Sri Lanka is facing its worst economic crisis since gaining independence from the UK in 1948.
'A mid-year review makes the end-of-year financial review manageable and less stressful.'
Nominations and addresses are of paramount importance in bank accounts, insurance policies, mutual funds, etc.
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