Awareness about need to have good credit record prompts users to pay on time.
Domains spoofing the legitimate Olympics Web site, while fake mobile apps masquerading as transport, booking, or other planning apps are also certain to be leveraged by fraudsters during the event, cybersecurity firms say, which puts Indian users also at risk.
The size of Reserve Bank's balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government, according to the central bank's annual report. In actual terms, the increase was Rs 7,02,946.97 crore over Rs 63.45 lakh crore as on March 2023.
Credit cards are fast emerging as an acceptable mode of payment for many instruments. At present, insurance payments can be made through cards. Soon, mutual fund investments could be allowed as well.
The Reserve Bank has asked banks not to levy any late payment penalty on credit card customers till 3 days after due date.
Barclays Plc, UK's third-largest bank by assets, plans to enter the emerging credit card market in India.
Here's what's in it for you!
Important points to remember when you think of transferring your credit card balance.
The vertical will be based out of Bengaluru.
India's financial sector is dominated by large government-owned and private-sector banks.
The customer needs to be in the proximity of 15 cm from the merchant terminal.
When you pay by cash, the pain is the highest and when you pay by credit card, the pain is reduced considerably.
The service will be available through its 1,000-plus ATMs spread across the country. The bank has received an approval from the Central Board of Direct Taxes for this facility in the country.
The banking regulator was uncomfortable with the runaway pace at which consumer credit was growing.
Though reward points should not be a primary concern while opting a credit card they do hold some monetary value. Be sure to redeem your points on time and make the best use of your card.
Continuing our series on how to achieve Financial Independence and Retire Rarly (FIRE), Vatsal Ramaiya emphasises the importance of planning for retirement.
Uber had run into trouble with the RBI over the two-payment process
'No money will go henceforth to any entity which does not comply with the Sports Code'
The Centre on Sunday said there are no plans to levy charges for making payments through Unified Payments Interface (UPI) while saying the service is a "digital public good with immense convenience". The ministry of finance said the concerns of service providers for cost recovery have to be met through other means. "UPI is a digital public good with immense convenience for the public & productivity gains for the economy.
Regulators will need to allow the model to evolve to allow profits to flow, says Una Gulani.
Rajiv Raj tells you why a store credit card is not a good idea, even though you are tempted with extra 'savings' of 10 per cent on your purchase or a 5 per cent cash back or a 'sign on bonus'.
5 precautionary measures you must take to prevent any misuse of your credit card.
Reward points should not be considered as a primary factor when choosing a card. Always remember these points should be considered as an auxiliary benefit you derive due to using your card or staying loyal; they should never become an inducement to spend more.
Payment banks may not be viable option to attain financial inclusion.
Ways on how consumers can maximise benefits.
HDFC bank and Reliance Communications have launched India's first virtual credit card. HDFC credit card users can use their Reliance mobile phones to make payments.
'Building a credit history is a gradual process that requires at least 6-12 months of consistent credit activity.'
Watal panel had suggested an independent payments regulator be set up.
Be careful if you find your postal mails/ bank and financial statements intercepted, pilfered or tampered with.
A primer on how to choose correctly between swiping your card and applying for a loan...
India Pay, the new payment system, will handle all domestic transactions and work with payment networks like Visa and MasterCard for international transactions undertaken by Indian cardholders or foreigners visiting to the country. Once the processing work shifts to India, transaction costs will come down. At present, the fees charged by Visa and MasterCard are relatively high.
Consumers in India are growing more comfortable with using their debit cards to pay for purchases, according to Visa's latest Global Payment Tracking (GPT) Survey.
As the POS machines are not easily accessible to customers, cashiers are asking customers to tell them the PIN so that they can enter it.
The National Payments Corporation of India, the owner of IndiaPay, will fire the first salvo by charging only half what MasterCard and Visa levy on merchant establishments.
While several banks and ATMs are providing cash far below the allowed limit every now and then due to cash shortage, the damage caused by the cyclone has dealt a further blow with movement of cash vehicles coming to a grinding halt, resulting in empty ATMs.
Payments made by any person of an amount aggregating to Rs 100,000 or more in cash towards credit card dues will have to be reported.
Move aimed to reduce scope of frauds as electronic payment systems are becoming vulnerable to misuse.
Research well all the ifs and buts carefully before accepting such policies.
