It is absolutely difficult to retain a healthy credit report if you have a history that shows your inability to cover up debts and repay loans regularly.
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'.
The average ticket size (ATS) of all transactions on United Payments Interface (UPI) in H1 2023 was pegged at Rs 1,604, marking a 10 per cent decline, compared to Rs 1,774 in H1 2022, according to data from Worldline India's Digital Payments Report. The reduction in the overall ATS on UPI is a good sign, suggesting a deeper embedding of UPI as it is being used for smaller or micro-transactions, and the dip is driven by the growth in person-to-merchant (P2M) transactions, the report said. The ATS of P2M transactions dipped 21 per cent from Rs 839 in H1 2022 to Rs 659 in H1 2023.
Getting married has no direct bearing on the credit score of either of the spouses. However it does impact the financial situation and may sometimes impact the credit score of any individual indirectly due to the action of the partner.
According to Misri's statement, Modi said he could not accept the invitation due to a pre-existing schedule, and invited Trump to visit India for the Quad Summit, likely later this year.
Pataudi medal was an afterthought, ECB should have done better: Farokh Engineer
After the income tax department indicated that the Tamilnad Mercantile Bank (TMB) did not provide the complete details of transactions worth up to Rs 3,610 crore, sources told Business Standard that this was due to a technical glitch. The bank has now submitted all the required documents in the past few days. According to the Income Tax (I-T) department, TMB had not submitted a statement of financial transactions (SFT) pertaining to cash deposits of around Rs 2,700 crore involving more than 10,000 accounts.
Before applying for a home loan, make sure you have not been delinquent in the past six months at least.
Stop indulging in these before it derails your financial future
Do you think the 100-hour training and certificate course made mandatory by RBI for debt recovery agents sensitise them to the rights of borrowers? Will they stop using intimidating tactics to recover dues from defaulters? Will it lead to better debt collection practices? Tell us.
The average value of retail digital payments dropped 48 per cent from Rs 8,769 in March 2021 to Rs 4,560 in March 2024 due to a growing preference to use digital modes of transactions for small value payments, according to the Reserve Bank of India's (RBI) report on the trend and progress of banking in India.
The Reserve Bank of India's (RBI's) move to ban Mastercard from issuing new cards for not complying with the local data storage guidelines may hit five private banks, a non-bank lender, and a major card-issuing company. The impact is expected to be felt for a few months as these players transition to other card networks. According to Nomura Research, RBL Bank, YES Bank, and Bajaj Finserv are the ones most impacted by the ban as all their credit card schemes are allied to Mastercard. Among others, IndusInd Bank, Axis Bank and ICICI Bank have 35-40 per cent of their credit card schemes tied to Mastercard, the report said.
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.
Outright fear and lack of awareness can harm your CIBIL score
The 'DPD' indicates how many days a payment on a respective account has been delayed. Simply put, it's trouble for the borrower
'LAP is suited for borrowers with a steady income, sound repayment discipline, and a clear repayment plan.'
Besides wrong selection of ITR form, many professionals claim deductions they are ineligible for.
Sometimes being a good borrower and repaying your loans before time can also lead to a drop in your credit score
If you are wondering what all this is about and why should your wife need an independent score then read on to find out.
Here are a few quick ways that can help you become debt free faster.
The Insurance Regulatory and Development Authority of India (IRDAI) is considering a proposal to make insurance frauds a parameter for calculating credit scores in an attempt to put a lid on the increase in such activity. The proposal, which is a part of the recommendations made by a working group formed by Irdai and the General Insurance Council, suggests that insurance frauds should feature when the risk profiles of individuals are evaluated and should be used to calculate their credit scores. A poor credit score can deprive a person of financial services such as loans and credit cards, and deter him from indulging in fraud.
In a note to customers, the country's largest lender State Bank of India said, 'Interest shall continue to accrue on the outstanding portion of the term Loan during the moratorium period'. The accrued interest will be collected by the lender in the form of additional EMIs from those borrowers who opt for the three-month moratorium.
The United States government over the years has been spending more than what it earns. Like for the year 2011, the expected revenues for the US government stand at $2.17 trillion, whereas the expected expenditure is much higher at $3.82 trillion, leaving a difference of $1.65 trillion between what the government earns and spends.
Harshala Chandorkar of CIBIL answered queries on how borrowers can get errors in their credit reports rectified
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.
Union Minister Chirag Paswan predicts Nitish Kumar will be Bihar CM again after elections, criticizes opposition for targeting the Army and questioning Operation Sindoor.
The advice your mother gave you about choosing your friends wisely got a whole new meaning with lenders looking at your social media posts
State governments have requested the Centre for export incentives, lifting of import duty in the case of cotton for the textile sector and GST exemptions.
Be it an e-commerce transaction, booking tickets online or availing a service, online transactions has its intrinsic advantages of saving time and convenience.
A study by Edgar, Dunn & Company and India Cards Council has revealed that unlike in the United Kingdom and Australia where 90 per cent cards are active, there are only 56 per cent active debit cards in India.
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.
Sashidhar Jagdishan, managing director and chief executive officer of HDFC Bank, the largest private-sector lender of the country, has just completed his first term. The period October 2020-October 2023 was a roller coaster, and the second one, which started on October 27, could be more interesting as the lender absorbs the impact of the merger of HDFC, which was integrated on July 1, and moves to the next growth phase. Soon after he took over the reins from Aditya Puri on October 27, 2020, the Reserve Bank of India (RBI) debarred HDFC Bank from enrolling new credit card customers and launching new products under the Digital 2.0 programme due to repeated outages on its mobile-banking and internet-banking platforms.
A trends study conducted by India's Financial Intelligence Unit (FIU) has expressed suspicion that cryptocurrency is being used across the country in serious criminal acts like terrorist financing, fuelling secessionist activities, cybercrime, narcotics trafficking, illegal betting and gambling. The report, which was based on suspicious transaction reports and operational analysis, shared these trends and credible intelligence with law enforcement agencies.
'Understand your financial goals. Next, categorise them by size. Then evaluate your investment options.'
Consumer activist Jehangir B Gai explains a RBI circular that says the customer is not liable for unauthorised transactions that occur due to contributory fraud, negligence, or deficiency on the bank's part.
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.
If your answer is yes, this is just what your need to read today.
'Mera plan hain aap logon ko itna daraungi, itna daraungi ki matlab bas band bajne wali hain.'
