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If the credit card is not used judiciously, it can cause havoc with one's personal finances, warns Sarbajeet K Sen.
At a time when none in Kerala's Left politics questioned the chief minister's authority, MLA P V Anvar hurled a series of accusations against Pinarayi Vijayan's government, notes Shyam G Menon.
The RBI is fully aware that the high-cost loans and high indebtedness of the borrowers could pose financial stability risks, if not addressed by these NBFCs. Governor Shaktikanta Das has issued a stern warning, saying the RBI is closely monitoring these areas and will not hesitate to take appropriate action, if necessary, if the culprits don't opt for self-correction. Watch out for some action, soon, notes Tamal Bandyopadhyay.
Investors should view the increase in the LTCG tax rate in conjunction with the increase in capital gains exemption from Rs 1 lakh to Rs 1.25 lakh, which will provide some relief.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
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.
Whether it is the virtual world or the physical one using your credit card with a few precautions go a long way in keeping it safe. Be cautious and do not become a statistic in the growing credit card fraud!
Want to spend more this festive season on your credit card? This is what it takes...
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).
Had you invested Rs 10,000 each in JSW Steel, Titan Company and Bajaj Finance 20 years ago, when they were just penny stocks (trading below Rs 10), you would have become a millionaire by now.
Global fund managers remain bullish on the Japanese stock markets, which is now their most preferred destination in the Asian region. Both Morgan Stanley and Jefferies in their recent reports, have cited their preference for the Land Of The Rising Sun, which is fast becoming the land of the rising equities, too.
Indian lenders are unlikely to clear the vertical split of BSE-listed Vedanta Ltd in a hurry, considering that the demerger would reduce the fungibility of cash flows across businesses and increase their volatility, according to analysts. The demerger plan, which would result in six separate listed entities, would require approval from shareholders, lenders and other statutory bodies. "We believe that a separate listing of different businesses would reduce the fungibility of cash flows across businesses and increase the volatility of cash flows.
Issuing guidelines for enhanced disclosures by CRAs, the watchdog has called for having a uniform Standard Operating Procedure in respect of tracking and timely recognition of default.
Over 100,000 small and medium-sized businesses are non-compliant with e-invoicing norms under the goods and services tax (GST) regime, a mandatory requirement for businesses with an annual turnover of over Rs 5 crore. E-invoicing provides real-time access to invoices that are prepared by the supplier on the purchase of goods, allowing faster accessibility to input tax credit, thereby limiting the manipulation of fake credit as it has to be generated before the transaction. "The default has been reported mainly in businesses with a turnover between Rs 5 crore and Rs 20 crore," a senior official informed
'We are also conducting ongoing training and grooming at the branch level to pre-empt such cyberattacks.'
Rediff.com spoke to registered investment advisors to figure out how best the extra Rs 17,500 saved ever year can be invested to create a decent corpus in the years ahead. This is what they said.
Bank credit growth declined to 8.5 per cent in January from 13.5 per cent in the year-ago period.
With the restart of economic activity, fraudsters have shifted their focus to target unsuspecting people from travel and leisure, communities (online forums) and logistics sectors, a report said.
Vijay Shekhar Sharma has stepped down as part-time non-executive Chairman of Paytm Payments Bank Limited (PPBL), and the board of the bank has been reconstituted. The Reserve Bank has barred the PPBL from accepting deposits and credits from any customer post-March 15 for persistent non-compliances and continued material supervisory concerns in the bank. PPBL has reconstituted its Board of Directors with the appointment of Ex-Central Bank of India chairman Srinivasan Sridhar, retired IAS officer Debendranath Sarangi, former executive director of Bank of Baroda Ashok Kumar Garg, and former IAS officer Rajni Sekhri Sibal, Paytm said in a regulatory filing on Monday.
An in-line ICICI Bank result for the quarter ended March 31, 2024, has led to analysts raising target price and earnings per share (EPS) forecast on the stock. ICICI Bank, they said, appeared least vulnerable to regulatory action on its digital offerings or for risk monitoring lapses.
Making purchases on your credit card can turn out to be a better idea. Here's why.
It all begins with a little overspending on the credit card, and before you know it, you find yourself being sucked into a debt trap. You may think you have a debt pay off plan, but think again!
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'An in-house contest encourages employees to share yoga and well-being practices with their families.'
The 30-year-old, who won Olympic gold at the Rio Olympics in 2016, will miss this year's Olympic Games in Paris.
If you are panic-stricken because of your inability to repay even your minimum amount due on your credit card, help is at hand.
Reports (not denied by India) that the USA had 'for the first time provided real-time details to their Indian counterparts on the Chinese positions and force strength in advance of a PLA incursion' into Tawang at the LAC in December 2022, helping India thwart China's expansionist designs, show how operationally effective the USA-India friendship has become on the ground. A engaging excerpt from Sreeram Chaulia's must-read new book, Friends: India's Closest Strategic Partners.
FMPs remain an option for investors who believe interest rates could head downward over time and wish to lock in the current rates. TMFs have very low expense ratios, which makes them cost-efficient.
The number of frauds in the banking sector during the first half of the current financial year has increased substantially to 14,483 cases, although the amount involved is only 14.9 per cent of the previous year's amount, according to a RBI report. The report on Trend and Progress of Banking in India 2022-23, underlined the need to protect the banking system and the payments system from the risks of fraud and data breaches emanating from cyber threats. As many as 14,483 frauds were reported involving an amount of Rs 2,642 crore in the first half of current financial year, as compared to 5,396 cases (Rs 17,685 crore) in the same period a year ago.
At the same time there were few complaints about the wrong reporting of credit information to the Credit Information Bureau (India) Ltd, which was taken up by the RBI with the concerned bank for redressal, minister of state for finance Namo Narain Meena told the house in a written reply.
After raising interest rate by a cumulative 250 basis points in 11 months, the Reserve Bank of India (RBI) on Thursday unexpectedly kept benchmark rate unchanged as global banking woes added uncertainty to the economic outlook. Five out of six members of MPC voted to remain focused on the withdrawal of accommodation to ensure inflation aligns with target while focusing on growth, RBI Governor Shaktikanta Das said on Thursday. The Monetary Policy Committee of the central bank decided to take a pause after a rate hike seen in previous six consecutive policies.
Thousands of workers of every description -- from journalists to steel workers, from painters to New York cops, from auto to engineering workers -- marched for two hours down 5th Avenue one of Manhattan's most iconic thoroughfares, reports Jyoti Punwani.
The 'DPD' indicates how many days a payment on a respective account has been delayed. Simply put, it's trouble for the borrower
The Reserve Bank India's (RBI's) decision to ban the onboarding of new accounts on the "bob World" mobile digital platform led to a selloff in the Bank of Baroda (BoB) stock. The stock of the public sector bank dropped by around 3 per cent. The central bank cited "material supervisory concerns"; news reports claimed mobile numbers were randomly linked to accounts to purportedly inflate registrations on bob World.
If you are wondering what all this is about and why should your wife need an independent score then read on to find out.
By taking the mutual fund route, investors can take exposure to gilts with small amounts. Over a decade or more, returns from these funds tend to be sound.
Weeks after it revised the rating outlook of two companies of embattled Adani group, S&P Global Ratings on Wednesday said it is watching for additional information on the conglomerate's governance and funding for any ratings action. Investors, it said, seek clarity on the credit impact of a string of allegations against the group in a short-seller report published in late January, and on the findings of a recently launched Supreme Court investigation. S&P Global published an FAQ-style commentary titled, "Adani Group: The Known Unknowns".
Credit cards, if used properly, can be a great way to build one's CIBIL score.
Did you know that credit cards can in fact help you to improve and build your credit score if used responsibly and wisely!
