The Reserve Bank on Monday permitted banks to allow minors above the age of 10 years to open and operate savings/ term deposit accounts independently. The Reserve Bank of India has issued revised instructions on opening and operation in the deposit accounts of minors.
As you swipe your credit/debit card with carefree abandon at merchant outlets, banks are losing money to the tune of Rs 3,800 crore annaully, says Soumya Kanti Ghosh
The Reserve Bank of India's (RBI's) State of the Economy report for October acknowledged a slowdown in some high-frequency indicators but expressed confidence in a recovery, aided by consumption demand during the festival season. "In India, aggregate demand is poised to shrug off the temporary slowdown in momentum in the second quarter of 2024-25 as festival demand picks up pace and consumer confidence improves," said the report released on Monday.
Gensol Engineering, the beleaguered firm that came under market regulator Sebi's lens for fund diversions and governance lapses, said that its independent director Arun Menon has resigned with immediate effect.
They may splurge on expensive dresses, but when it comes to managing family finances, women are significantly better than men, a new study has revealed.
Jasprit Bumrah emerged as the lone bright spot with a record haul of 32 wickets.
RuPay is working on how to increase offers to customers. It is also focused on technology innovation in the card payment system.
'People try to repay the BIGGEST LOAN first. Actually, you should repay the most expensive loan first.'
Before applying for a home loan, make sure you have not been delinquent in the past six months at least.
Refusing to share her exact concerns, Mary Kom said she would rather discuss them in the meeting with Mandaviya and BFI top brass.
If variation is over 50 points, write to the bank and bureau immediately to correct the discrepancy
Private banks' net profit grew 26.3 per cent year-on-year (Y-o-Y) to Rs 48,982 crore in the first quarter ended June 2024 (Q1FY25) owing to healthy growth in credit and other income. The gross non-performing assets (GNPAs) increased with the end of dispensation granted during the pandemic, according to the data compiled by BS Research Bureau for listed 18 private banks.
Some banks might charge you a nominal amount of Rs 100-150 for issuing the card.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
SBI Cards and Payment Services reported numbers that met Street expectations in the first quarter of the 2023-24 financial year (Q1FY24). The net profit came in at Rs 590 crore, while pre-provision operating profit grew 17 per cent year-on-year (YoY) (a little better than expectations). But provisions were hiked due to surprise stress from pre-Covid-19 period of 2018-19, and that dragged earnings.
HDFC Bank on Wednesday reported a 2.3 per cent year-on-year rise in its consolidated net profit to Rs 17,657 crore for the October-December quarter, restricted by slower loan growth. On a standalone basis, the largest private sector lender's net profit came at Rs 16,735.50 crore for the period, up from Rs 16,372.54 crore in the year-ago period, but marginally down from the preceding quarter's Rs 16,820.97 crore.
Stopping SIPs during a downturn undermines the benefit of rupee-cost averaging.
Ultimately, the choice between no-cost EMI and BNPL depends on an individual's financial situation, preferences, and ability to manage repayments responsibly.
ICICI Bank on Saturday said its March quarter consolidated net profit grew 18.5 per cent to Rs 11,672 crore, helped by lower provisions. On a standalone basis, the second largest private sector lender showed a 17.4 per cent growth in its profit after tax at Rs 10,708 crore for the reporting quarter against Rs 9,122 crore in the year-ago period. For fiscal 2023-24, its standalone net profit grew to Rs 40,888 crore from Rs 31,896 crore a year ago.
During a three-hour long virtual meeting with CEOs of large public and private sector banks along with heads of NBFCs, the prime minister assured them that the government is ready to take all steps to support the financial sector.
Only a systematic and disciplined effort can help you free yourself from a debt trap.
Life Insurance Corporation scotched speculation of setting up or acquiring a bank on Wednesday but said it plans to enter credit cards business and manage pension funds.
The FIR also mentioned that the unidentified individual stated that Chaubey should be careful of his decisions and other actions.
A Rs 525-crore contingency provision during the July-September period led to a 19 per cent fall in IndusInd Bank's share price on Friday (October 25). Contingency provisions are generally made when a lender expects more bad loans in the coming quarters. Shares of the bank on Tuesday (October 29) declined 1.53 per cent to settle at Rs 1,038.2 apiece on the BSE.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
There has been speculation within state's political circles, especially within the ruling Congress, for some time now about the CM change later this year, citing the power-sharing agreement involving incumbent Siddaramaiah and Shivakumar.
Keep track of your foreign remittances to avoid giving incorrect declarations as these could be held against you.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
'That is how he developed his concentration and focus.'
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Axis Bank on Wednesday said it has completed the acquisition of Citibank's retail business in India for a final cash consideration of Rs 11,603 crore. The sale excludes Citi's institutional client businesses in India. The third-largest private sector bank said the acquisition, announced first in March last year, will not necessitate any new capital requirements and stressed that the attrition numbers on customers are much better than expected.
Few right moves and you can improve your credit score real fast
In the domestic market, the cost is a third but in the international market, we are finding it difficult to price it accordingly.
People are availing far more of certain kinds of unsecured loans than was the case before the pandemic. Bank lending for buying consumer durables and funding of credit cards and other personal loans have risen by Rs 6.9 trillion between August 2019 and August 2023, shows a Business Standard analysis of data from the Reserve Bank of India (RBI). These loans are typically unsecured, which means they are provided without collateral.
The stocks are largely from sectors such as chemicals, finance and cement, which struggled earlier but the worse seems to be behind them.
Follow these five steps to manage debt without cutting up your credit cards
Villarreal fought back to shock Barcelona 3-2 on Sunday, handing the LaLiga champions their first league defeat since late December.
GST will now apply to mutual funds, loan instalments and credit card dues.
