If variation is over 50 points, write to the bank and bureau immediately to correct the discrepancy
Shriram Finance's (SHFL's) profit after tax (PAT) rose 10 per cent year-on-year (Y-o-Y) to Rs 2,140 crore in the fourth quarter of the financial year 2024-25 (Q4FY25).
Paytm app users will continue to use all services like mobile and DTH recharges except for Paytm Payments Bank's offerings including wallet funds, Fastag and bank accounts, according to the company hit by RBI restrictions. Paytm Payments Bank users will not be able to add any funds to their wallet and bank accounts but will be able to use the balance until it is exhausted, according to the RBI order. "The RBI has issued a directive restricting Paytm Payments Bank account/wallet from accepting new deposits or allowing credit transactions after March 15, 2024.
'Most tax notices arise not from wrongdoing, but from unintentional mismatch or ignorance.'
'Byju's founders reserve all rights to bring actions against those parties that have caused damage to them personally and to their businesses.'
Credit card issuers saw significant erosion of their card base during the July-September quarter as the Reserve Bank of India's (RBI) norms mandated deactivation of cards that have been inactive for a year. The second quarter of the current financial year saw outstanding cards-in-force decline by 2.55 million to 77.7 million. Prior to this, the industry, on an average, was witnessing a net addition of over 1.5 million credit cards a month as players became aggressive on the unsecured lending business after the pandemic.
While you can always correct them, the sooner you do it the better it is for you, says Sanjay Kumar Singh
Fraudsters lure individuals with false promises of recovering bonuses or maturity proceeds from lapsed policies.
'An in-house contest encourages employees to share yoga and well-being practices with their families.'
'LAP is suited for borrowers with a steady income, sound repayment discipline, and a clear repayment plan.'
Red Square and VDNKh easily rank among the most striking places I've visited -- both for their historical significance and architectural splendour.
My admiration for Russian culture, vision and ambition grew with every step as I clocked the miles, Nitin Sathe tells us after a visit to Moscow and St Petersburg.
The fear of losing purchasing power due to inflation and low-interest rates has led many to explore safe alternatives to fixed deposits with high returns
How do you bring about better nutrition consciousness in a society that is quite apathetic to excess consumption of salt, sugar and fats? asks Ambi Parameswaran.
Saurav Ghosh's step-by-step guide will help you understand what bonds are, how they help investors make money, how much money they make and which bonds to invest in.
Reserve Bank of India on Thursday said a centralised portal would be ready in three to four months wherein depositors and beneficiaries can access details of unclaimed deposits across various banks. As of February this year, about Rs 35,000 crore of unclaimed deposits were transferred to RBI by public sector banks in respect of deposits which were not operated for 10 years or more. "In order to improve and widen the access of depositors/beneficiaries to such data, RBI has decided to develop a web portal to enable search across multiple banks for possible unclaimed deposits based on user inputs," RBI Governor Shaktikanta Das said while announcing the first bi-monthly monetary policy for the current financial year.
Mortgage finance remains a structural growth opportunity in India with a policy focus on affordable housing, housing shortages, low mortgage penetration, and rising incomes as drivers. Affordable Housing Finance Companies (AHFCs) serve the mass market, low-income segments, which is the least-serviced category, and to operate in this segment, the mortgage provider needs good assessment skills. AHFCs and HFCs have also been increasing exposure in other mortgage segments (loan against property, developer loans among others).
Prime Minister Narendra Modi on Friday said the world has seen the power of India's indigenous weapons during Operation Sindoor, which is 'not over yet'.
Besides wrong selection of ITR form, many professionals claim deductions they are ineligible for.
Join Rajiv Raj of Credit Vidya on how you can get good CIBIL score and home loan rates at 4.30 on Rediff ZaraBol.
A credit report is an accumulation of all your loan accounts, loan repayment history, and delinquencies, if any.
The income-tax (I-T) department has issued showcause notices under Section 68 of the Income-Tax Act to several startups over funds routed through Singapore, seeking explanations for investments received over the past five years, people familiar with the development said. The department is questioning the source, identity, and creditworthiness of overseas investors in these transactions, they said.
The Reserve Bank has asked banks not to levy any late payment penalty on credit card customers till 3 days after due date.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Here's why it happens and how you should avoid it.
'While investors believe in India's long-term growth story and resilience amid global uncertainty, they see near-term risks around the direction of a global trade war.'
Rahul Gandhi's constituency gets paper mill.
Insurance companies may soon face goods and services tax (GST) audits as tax authorities plan a "deep dive" into their business practices to check for the possibility of a raft of tax-linked irregularities. Several insurance companies are being probed for wrongly availing of the input tax credit without the underlying supply of goods and services based on fake invoices generated by their channel partners and intermediaries. "We want to deep dive into the overall business and see if there are further taxation issues besides commissions, which are already being investigated," a senior official of the Central Board of Indirect Taxes and Customs said.
rediffGURU Yogendra Arora answers readers' personal income tax queries.
Brokerages expect a further slowdown in Indian firms' revenue and earnings growth in Q4FY25, following low single-digit growth in the preceding three quarters, as factors like weak consumer demand and credit growth linger on.
Enhancing your credit score is the key to improving loan eligibility and securing a favourable interest rate.
With the RBI infusing Rs 7.5 lakh crore in liquidity -- and possibly more in the future -- the short- to medium-term corporate bond market is expected to benefit.
More credit bureaus to ensure faster dispute resolution.
The ideal time to invest in sector funds, is during a downturn so that investors can capitalise on a turnaround in 1.5 to 2 years.
Shares of Bajaj Finance surged over 6 per cent on Thursday after the diversified non-banking finance company reported an 18 per cent increase in consolidated net profit to Rs 4,308 crore for the December quarter. The stock rallied 6.33 per cent intraday to touch Rs 8,249.95 - a 52-week high -- on the BSE.
By choosing your study destination carefully, leveraging government schemes, comparing loan options, and adopting frugal living practices, Indian students can acquire global credentials without mortgaging their futures.
ICICI Prudential Life Insurance (IPRU) disappointed the market even though some analysts said the Q3FY25 results were in line. Most analysts cut margin estimates. The insurer reported M9FY25 growth of 8.5 per cent year-on-year (Y-o-Y) in value of new business (VNB) premium to Rs 1,575 crore, while total annual premium equivalent (APE) grew 27.2 per cent to Rs 6,910 crore.
Invest in these funds through the SIP route with at least a seven-year horizon.
The asset quality of microfinance portfolios worsened in the quarter ending June 2024 due to the impact of heatwaves on borrowers' incomes and collections, coupled with rumours of loan waivers, according to Sa-Dhan. Jiji Mammen, executive director and chief executive officer of Sa-Dhan, said loans with 90+ days past due (dpd) rose to 1.2 per cent in June 2024, compared to 0.9 per cent in June 2023. The 90+ dpd also increased from 1.16 per cent in March 2024.
For customers who want to know their individual credit rating scores, buying a credit information bureau's (CIB) report will take just a few minutes. However, trying to clear any lapses in that report could take a month. Besides, almost always, the onus of getting the lapses rectified will remain with the customer.
The Reserve Bank on Thursday said it will come out with a framework allowing borrowers to switch to fixed interest rate from floating interest rate, a move that would provide relief to borrowers of home, auto and other loans reeling under the impact of high interest rate. Unveiling the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said under the framework, to be put in place shortly, the lenders will have to clearly communicate with the borrowers about tenor and EMI. "The supervisory reviews undertaken by the Reserve Bank and the feedback and references from members of public have revealed several instances of unreasonable elongation of tenor of floating rate loans by lenders without proper consent and communication to the borrowers," he said.
