How will the RBI announcement on loan moratorium work for those with home loans, auto loans, personal loans, consumer durables loan? Here's what experts have to say.
The poor can't withdraw their money from their bank account and other Indians live in constant fear of their money getting stolen by unscrupulous hackers, says Syed Firdaus Ashraf.
A critical factor that can ensure easier and hassle-free access to home loans is keeping a watchful eye on your Credit Information Bureau India Ltd (CIBIL) Report and CIBIL TransUnion Score.
Companies don't have to be in the field to nudge people to return money they owe lenders.
You will lose out on discounts and have to pay a higher premium.
What is digital house arrest? It is a tactic cybercriminals use to confine victims to their homes and scam them, explains Tamal Bandyopadhyay.
The country's largest private lender HDFC Bank is planning to facilitate a shift in its payments module from the existing core banking platform. This would ensure minimal payments downtime, even if core banking is not available. "This 15-month project will be followed by hollowing the customer-master modules from its existing core systems. "It will ensure a single system of record for customers across various products," said Sashidhar Jagdishan, managing director (MD) & chief executive officer (CEO), in the annual report for 2021-22.
Have you always paid all your EMIs without defaulting? Or have you defaulted on your dues on a number of occasions? Is there any way by which you can get to know your credit rating?
Instead of relying on technology that is not in their control, businesses should stop using SMS based OTPs and start using other software-based or hardware-based token authentication, which are in their control, says Venkata Satish Guttula.
Surge in UPI transactions is because of an increased consumer interest in making bill payments and recharging mobile phones online, and purchase of non-essential goods on e-commerce platforms.
Whether it's about colonising Mars or donning Net-connected apparel, 2022 is a year everyone seems to be planning for, says Nivedita Mookerji.
In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. "They needn't worry whether the amount has been credited to their account," says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
These will help you to remain ahead of you finances and prepare for retirement...
Bundled products often come with restrictions. The customer also gets locked into two products at the same time. This reduces flexibility.
European champions Spain claimed a place in the Nations League quarter-finals with a 3-0 home win over Serbia.
Walmart-owned digital payments firm PhonePe has decided to halt its proposed acquisition of Goldman Sachs- and Xiaomi-backed ZestMoney, a Bengaluru-based buy now, pay later (BNPL) platform. The deal, which was poised to fetch anywhere between $150-200 million and $300 million, has hit a snag over lapses in due diligence, disagreements over valuation, sustainability of the business, and shareholding structure of ZestMoney, according to people familiar with the matter. The collapse of the deal is also being attributed to a slowdown in the financial technology (fintech) sector in the midst of a funding winter, difficult regulatory environment, and macroeconomic uncertainty, informed other sources.
'Usually, customers who don't get loans from banks approach NBFCs.' 'This is one reason NBFCs price their loans costlier than PSBs or private banks.' 'NBFCs will have higher delinquencies levels than private banks for most products.'
Applying for a loan? Check if you've paid your telephone bill or insurance premium first. Soon, your loan proposals will not depend only on your credit card and debt payment record with banks but also on whether you've paid your phone bill, insurance premium and stock broker dues on time.
Indians are among the least financially literate people across the globe with youngsters and women struggling most with their finance knowledge due to lack of discussions within the families on money management issues.
With average capacity utilisation now touching 76 per cent, Indian companies are going back to the drawing board to add capacity but the plans to build new factories and plants are still some months away.
Women's share of work in these industries is over 50 per cent, yet they are paid much less than their male counterparts.
'It is common knowledge that cash is anonymous.' 'When demonetisation was implemented, one of the intended objectives was to put identity on the cash holdings in the economy.' 'With the return of Rs 15.28 lakh crore in the formal banking system, the almost entire cash holding of the economy now has an address.' 'It is no more anonymous,' says Arun Jaitley.
Have you run into a debt trap becasue of your over-indulgence with credit cards and personal loans? Here are a few ways that can help you to get out of this debt trap.
Answers to six commonly asked questions about CIBIL score that will help clear your confusions
Facebook enabled users to mark themselves safe in Chennai since Thursday morning
The Delhi State Consumer Commission has imposed a penalty of Rs 10 lakh on Standard Chartered Bank for harassing and threatening an advocate with the help of 'muscle men'
Jaitley slams Rajan for MSME banking crisis statement, says postmortem is easier than action
With higher interest rates, bankers today said their loan portfolios will grow at a slower pace, partly because of the caution being exercised by lenders themselves.
Five simple tips to help the youth kick-start their financial education
Here's a quick glimpse into what goes into the making of a person's CIBIL TransUnion Score
rediffGURU and financial planning expert Colonel Sanjeev Govila will answer your personal finance-related questions.
About 70 per cent of ATMs in India are running on outdated operating systems, which makes it easier for fraudsters to crack them
Ahead of the first due date of advance tax payment on June 15, the government is likely to release guidelines on what will be covered within the ambit of virtual digital assets (VDA). To remove any ambiguity in the recently established tax framework for asset holders, the Central Board of Direct Taxes (CBDT) is currently preparing guidelines, said government officials in the know. The apex direct tax body will define non-fungible tokens (NFTs) and whether or not they fall within the purview of VDA.
Rediff reader Shan Anbu, 42, tells us how his card got stuck in the ATM due to lack of backup power facility.
Don't opt for the moratorium unless critical, advises Charlie Lee, founder and CEO, True Balance.
If RBI's recommendations are finalised, it will give more teeth to the existing fair practice code
Changes in lifestyle due to aspects like lockdowns and work from home has created additional demand for items such as television sets, laptops, Wi-Fi routers and even vacuum cleaners, which the bank is funding at present.
