Now borrowers will compensate for higher provisioning on personal loans/credit cards.
Here's what's hot and what's not about a new option that banks have recently rolled out to meet your plastic money needs.
Credit cards debt 180 days past the due repayment date stood at 7.92 billion yuan ($1.19 billion) by the end of the third quarter, up 8.5 per cent from the second quarter, the People's Bank of China said.
Those who have binged on credit must spend less, cut discretionary expenses, and focus on repayment.
You may forget about your mistakes but CIBIL keeps an eye and maintains a record of each and every transaction right from your first credit card!
Use credit cards with discretion and try to generate a net monthly surplus to avoid falling into a debt trap
In her address to the nation on the eve of the country's 80th Independence Day, the president stressed that just as government and society remain united to ensure national security, everyone must contribute through joint and concerted efforts to safeguard the present and future of students.
India's industrial production expanded at a slower pace of 4.9 per cent in April, primarily due to tepid growth in the energy sector amidst the West Asia crisis. This data marks the first release under the newly revised base year of 2022-23 for the Index of Industrial Production (IIP).
Here are some simple tips that can save you a great deal of money and reduce financial stress.
Lender had 5.12 mn cards - almost a third of the total number of credit cards in the industry - at the end of November, 2013.
If a consumer spends Rs 50,000 on a credit card and only pays off the minimum amount of 5 per cent due every month, then at an interest rate of 34 per cent per annum it will take him about 11 years to completely pay off the amount with the total interest payable at Rs 57,000.
The Association of Payment Clearing Services said that the 25 per cent initial rise in fraudulent use of British credit and debit cards in three years was mainly due to stolen and counterfeit cards used abroad. Card fraud overseas rose by 77 per cent last year to 208 million, 39 per cent of the total. There have been several instances of British consumers reporting money withdrawn from their accounts in India, The Philippines, Australia and Canada.
Converting credit card outstandings to a personal loan reduces the interest burden. But one needs to select the right tenure.
If reimbursement becomes unavoidable, submit a complete file at the earliest.
While HDFC Bank has vowed to recoup its lost market share in the credit card segment in three to four quarters by aggressively sourcing new cards, brokerages believe it is a little hard to come by, given how competitive the landscape has become, with other players in the market becoming equally aggressive to gain market share. Kotak Institutional Equities in its report on Monday said, "We would like to believe that the recovery in market share is likely to be gradual, if any. "All the key players, including Axis Bank, are now willing to expand their credit card portfolios as they have tested quite well against Covid-19."
Today pay-later services are available for practically anything under the sun. And these include small purchases like clothes, gadgets, movie tickets, and even food.
If banks won't lend, seek a loan from fintech lenders or P2P platforms to help you get out of a debt trap.
If you are panic-stricken because of your inability to repay even your minimum amount due on your credit card, help is at hand.
From April 1, 2026, the Reserve Bank of India's new authentication directions modernise how every digital payment you make must be verified -- and place the burden of security squarely on your bank, not on you.
Nineteen individuals, including a doctor, two home guards, and a lawyer, have been arrested in Chhattisgarh's Bilaspur district for allegedly orchestrating a scam that involved forging post-mortem reports to fraudulently claim Rs 64 lakh in snakebite compensation.
We asked you, dear readers to share your best tips on saving money. Navin K Singh shared these tips.
Sharing your credit card with the spouse has it perks. Read on to find out more!
Instant approval, no due diligence, conversion to easy-to-pay EMIs, nominal processing fees are some of the reasons why credit card loans are better
Some of the major spending categories that saw a drop included online food ordering and dining out, with more individuals purchasing groceries and preparing meals at home.
A man in Meerut, India, allegedly staged the kidnapping of his 15-year-old son and demanded a ransom to pay off debts accumulated through online gaming. He has been arrested and the boy is safe.
'We can integrate AI and tech into education, but that is just a means and not an end.' 'Ultimately, we need to control what happens in a classroom and we need to let teachers innovate their teaching style to suit the needs of Gen Z and beyond.'
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Indian wrestler Sujeet Kalkal, dominant in the 65kg category, attributes his success to consistency and self-belief, aiming for gold at the upcoming Asian Games and World Championships.
Indian wrestler Sujeet Kalkal, dominant in the 65kg category, attributes his success to consistency and self-belief, focusing on self-improvement and rigorous training for upcoming challenges like the Asian Games and World Championships.
The Supreme Court stayed the National Consumer Commission's order, which had capped the interest rate chargeable on credit card holders at 30 per cent. The verdict will allow banks to levy any interest rate they consider applicable to card holders. In their appeal, the banks said they were following the guidelines of the RBI, which was the only authority to regulate the fixing of the interest. The commission had no jurisdiction to pass an order directly to the banks.
Have you reached a stage where you cannot even pay minimum amount due? You need some smart help to get that debt burden off you.
Trinamool Congress leader Abhishek Banerjee has accused the BJP government of conspiring against Indian citizens by deleting names from electoral rolls and diverting attention from core issues.
Next time you get your credit card bill, look at the amount due carefully and repay the entire amount.
Trinamool Congress leader Abhishek Banerjee has accused the BJP government of conspiring against Indian citizens by deleting names from electoral rolls and diverting attention from core issues.
Many placement agencies are fly-by-night operators in New Delhi.
The monsoon session of Parliament will set the tone for how the Hindu community feels about what happened at the Ram Mandir. Whether emotions will be stirred within the voters of India lies solely at the oratory skills of the Congressis and Samajwadis, notes Zainab Sikander.
Air India's passenger service system provider SITA faced a sophisticated cyberattack in February this year leading to leak of personal data of 4.5 million passengers -- which included passengers of the national carrier -- from across the world, an official statement said on Friday. Personal data -- including name, date of birth, contact information, passport information, ticket information and credit card data -- which was registered between August 11, 2011, and February 3, 2021, has been leaked of a certain number of Air India's passengers, the statement issued by the airline said. "While we and our data processor continue to take remedial actions...We would also encourage passengers to change passwords wherever applicable to ensure safety of their personal data," it said.
Do not shop around for loans immediately after getting a secured credit card. Such loan enquiries can also pull down credit score, as they are treated as a sign of credit-hungry behaviour.
Because from June 1, 2015, you will have to fork out 14 per cent service tax instead of 12.36 per cent
