While you can always correct them, the sooner you do it the better it is for you, says Sanjay Kumar Singh
The RBI under former governor Shaktikanta Das resisted pressures to cut interest rates through 2024 as it kept its 'Arjuna's eye' trained on inflation, but the central bank under a new detail-oriented head will soon have to take a call if it can continue sacrificing growth. Das, a career bureaucrat who in 2016 oversaw Prime Minister Narendra Modi's highly disruptive demonetisation move, left a lasting legacy as he demitted office towards the end of 2024 after expertly navigating monetary policy for six years, the highlight of which was steering India's recovery through the pandemic.
'If you wish to make a big-ticket purchase on EMI without having to pay additional charges, no-cost EMI would be the right choice for you.'
The Reserve Bank on Tuesday asked all lending institutions, including non-banking financial companies, to implement the waiver of interest on interest for loans up to Rs 2 crore for the six months moratorium period beginning March 1, 2020.
Yes Bank on Saturday reported over two-fold jump in standalone net profit at Rs 452 crore for March quarter 2023-24, primarily due to benefits on the provision front. In the year-ago quarter, the bank logged a profit of Rs 202.43 crore. The private sector lender benefitted from write-back on income tax and interest on income tax returns, but the profits were limited by its inability to comply with the mandatory priority sector lending (PSL) requirements, its management said.
According to sources, a few hundred have been issued to Indian businessmen, celebrities and brand experts.
The increasing involvement of Big Tech in the financial system could give rise to concentration risk and there are potential spillovers, which call for closer attention, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Tuesday. "...enormous amounts of consumer data is being generated and leveraged upon by a few entities (the so-called Big Tech) by virtue of their huge customer base. "Such developments raise concerns on concentration risk and potential spillovers as their level of engagement with the financial system strengthens in the years to come," Das said at the Global Fintech Fest 2022.
Help yourself and your family financially by not falling prey to these, says Naval Goel
'A mule operates someone else's account to transfer illegal money.'
'If the borrower can't repay the loan due to lack of income or losses from speculative activities, they risk defaulting on it.' 'This could lead to the bank seizing the property.'
By acting now, you can step into 2025 with your finances in order and without unnecessary penalties.
Credit cards prove useful when making high value transactions.
The country's largest private lender HDFC Bank on Saturday reported a 6.51 per cent decline in its consolidated net profit to Rs 16,474.85 crore in the April-June quarter compared to the previous January-March quarter. The city-headquartered lender, which merged its mortgage major parent HDFC into itself in July last year, had reported a net profit of Rs 17,622.38 crore in the March quarter. On a standalone basis, the net profit declined to Rs 16,174.75 crore in April-June 2024-25 from Rs 16,511.85 crore in January-March 2023-24.
You need to think of the costs and prepayment charges before taking one but it is better than revolving credit on your card.
Citibank on Wednesday joined the list of foreign banks that have exited retail banking business in India. Mumbai-based Axis Bank completed acquisition of Citigroup's consumer business for Rs 11,603 crore. Under the deal, Axis acquired consumer banking businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans.
Odisha FC overcame East Bengal FC 2-1 in Kolkata on Thursday to extend their unbeaten streak in this Indian Super League season to five games.
Many would have racked up debt this Diwali, using credit cards and consumer loans. Here are a few simple steps on how to fix your financial mess, says Bindisha Sarang.
HDFC Bank on Tuesday said the Reserve Bank of India (RBI) has appointed an external IT firm for carrying out a special audit of its IT infrastructure in the aftermath of repeated service outages at the country's largest private sector lender over the past two years. "RBI has appointed an external professional IT firm for carrying out a special audit of the entire IT infrastructure of the bank under Section 30 (1-B) of the Banking Regulation Act, 1949..., at the cost of the Bank under Section 30 (1-C) of the Act.
ICICI Bank reported good results for the October-December 2023 quarter (Q3), with 24 per cent year-on-year (Y-o-Y) growth in profit after tax (PAT). Net interest margin (NIM) dropped 10 bps quarter-on-quarter (Q-o-Q) to 4.43 per cent. Credit growth was at 19 per cent Y-o-Y (4 per cent Q-o-Q), while deposit growth was at 19 per cent Y-o-Y (3 per cent Q-o-Q).
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.
Do not panic if you have a poor credit score. Do not live with the fear of having an important loan rejectd by the lender because of a poor credit score. Here's the solution for your woes
Just like optimum blood pressure, sugar and the likes are the measure of your physical health, a good CIBIL score is a measure of your financial health and you must do the needful to keep your CIBIL score at a satisfactory level.
Beware: During the period that you avail of the moratorium, there would be no repayment of interest or principal. Thus, the outstanding will go up substantially for this period as a consequence
A bad credit score in general is seen as an irresponsible behaviour of an individual. Inability to pay on time reflects that the person is not capable of take care of things.
The District Consumer Disputes Redressal Forum said raising undue credit card bill of Rs 74,000 and putting the customer's name in defaulters' list due to which he could not avail the services of any other bank was illegal and asked Standard Chartered to desist from such activities in future.
Ratan was extremely ethical in his dealings, which he brought to bear on the business house which he helmed, remembers Sailesh Kottary.
If you are one of those who is now staring at your credit card bill and wondering how to go about it, here is the way out.
For over a decade, HDFC Bank consistently outperformed industry growth rates in both deposits and advances, maintaining impeccable asset quality. Amid a landscape where other banks struggled with soaring non-performing assets (NPAs), HDFC Bank thrived, eventually surpassing ICICI Bank to become the largest private sector lender in India. Its net interest margin (NIM) remained stable in the range of 4.1-4.4 per cent.
The mobile banking app of the largest private sector lender HDFC Bank, which has been under the regulatory lens for network outages, was down for an hour on Tuesday due to unspecified issues. The city headquartered bank said the issues were faced for an hour late in the morning on Tuesday and the same was resolved in an hour. It urged customers to use the net banking alternative to transact in the interim.
With many getting payment reminders, confusion prevails among borrowers, term-plan investors and credit cardholders over the implementation of the three-month moratorium on all loan repayments amid disruptions caused by the coronavirus outbreak. As part of measures to alleviate hardships faced by people, the Reserve Bank of India, on March 27, announced a slew of steps, including a three-month moratorium on loan repayments.
Investors shunned shares of Bajaj Finance on Friday, a day after the non-banking financial company (NBFC) reported a sharp contraction in its net interest margin (NIM) for the March quarter of the financial year 2023-24 (Q4FY24). The losses accounted for a fifth of the benchmark S&P BSE Sensex's 609-point loss. Most brokerages have tamed their earnings expectations for the next couple of quarters, after the management said it expected the pressure on NIMs to continue in the near term.
Make these and they will ensure you will NEVER GET RICH!
ICICI Bank's new offer is for those with savings in fixed deposits but no immediate liquidity
Dhoni endorses 42 brands to Bachchan's 41 and SRK's 34.
Let not the smartness be confined only to your phone... Transfer it to borrowing too! Here's how
'I'm an extrovert, but there is a facet to me that I closely guard.' 'I just think that there has to be something that you keep for yourself.
Asking Indian Institute of Technology Bombay to adopt a humanitarian approach, the Supreme Court on Monday directed the premier engineering institute to allocate within 48 hours a seat to a young Dalit boy, who missed out, as he could not deposit his fees due to the non-functioning of his credit card.
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.
It is to be seen if SBI under Setty, who will have a three-year term, can ride the economic cycle to take SBI to new heights, navigating some of these challenges.
Barcelona's Raphinha scored deep into stoppage time to hand his side a dramatic 5-4 comeback win at Benfica and a place in the Champions League last 16.
