Flipkart-backed fintech firm super.money is aiming to be among the top five players on the Unified Payments Interface (UPI) leaderboard by the end of this year, a senior company executive has said. The company, which rolled out its beta version in June this year, has processed about 10 million transactions till date. "We have a target of 100 million transactions for the end of the year.
SBI Cards & Payment Services reported mixed results for the January-March quarter (Q4) of FY24. While it managed to deliver strong earnings growth, it saw a perceptible decline in net interest margin (NIM) and suffered deteriorating asset quality. Taken together, the market was disappointed with the share dropping 3.5 per cent.
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.
Standard Chartered's India strategy will focus on wealth management while credit card will remain core to its business though will avoid competition with the country's private banks, said a senior executive of the British lender. "Our focus on wealth management and affluent clients are central to our existence. "We are strong in these areas and we want to grow in these areas.
Here's how you can reward yourself for having a good CIBIL score.
Finance Minister Nirmala Sitharaman on Saturday announced six new schemes and increased the subsidised Kisan Credit Card (KCC) loan limit to Rs 7 lakh from Rs 5 lakh, targeting everything from unemployment to crop productivity enhancement across the country. Presenting her eighth budget speech in Parliament, Sitharaman positioned agriculture as "the first engine of growth" and unveiled the Prime Minister Dhan-Dhaanya Krishi Yojana, a flagship program targeting 100 agri-districts grappling with low productivity, moderate crop intensity, and below-average credit parameters.
Use credit cards with discretion and try to generate a net monthly surplus to avoid falling into a debt trap
Engineer surprised by Kuldeep's omission from 1st Test, says he should be playing all matches
'India is too important to the United States for there to be any kind of a permanent bump in the relationship.'
You can even check your CIBIL status or credit history by yourself. This can be done online by just logging on to www.cibil.com and submitting certain details.
'Shinde, via Jarange Patil, is making his moves to become the sole leader of the oppressed, poor, backward Marathas in Maharashtra.'
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.
'If your loan application gets turned down by one bank, do not apply immediately to several others.' 'This makes you appear credit hungry and possibly in some form of financial distress.' 'Multiple enquiries affect your credit score adversely,' advises Mohan Jayaraman.
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.
India is one of the fastest-growing countries in the plastic money segment, with close to 350 million debit cards and 19 million credit cards in circulation.
The government is planning to extend the electronic modes of tax payment to its own payments platform, Unified Payments Interface (UPI), credit cards of banks, or even a mobile wallet like Paytm.
Pataudi medal was an afterthought, ECB should have done better: Farokh Engineer
Besides wrong selection of ITR form, many professionals claim deductions they are ineligible for.
Organise your PAN, Form 16, Form 26AS, AIS, and all other proofs before e-filing.
If credit card delinquency spells trouble, there may be questions with regard to the much bigger retail sub-categories of car and housing loans, notes T N Ninan.
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.
To promote cashless transactions, the government had waived the Merchant Discount Rate on fuel purchase post demonetisation for consumers. But after the expiry of the 50-day window, the banks have decided to levy MDR on petrol pump owners.
Plastic money that lets you buy almost everything by just swiping the card can also turn out to be your worst nightmare.
The Justice Department investigation, involves card company policies that prevent merchants from encouraging customers to use cards that have lower processing fees.
Here's how do you decide whether to use your debit card or your credit card when you pay a bill at a retail shop, restaurant or any other establishment.
In July 2013, RBI warned banks against sending unsolicited cards.
'At least 25 Olympic-sized swimming pools worth of plastic chewing gum gets dumped.' 'And because the way people spit it out, there's no possible way this plastic can be recycled.'
Tata credit card holders will soon be able to instantly use the reward points they earn to have a cup of coffee or snacks by swiping their card.
Building your credit from scratch during your post-graduation years is a good idea because it gives you the opportunity to build a solid foundation for your credit history. Here's how to go about with it.
Debit card transactions showed an increase of 88.6 per cent, against a rise of 34.5 per cent for credit cards for the March. In value terms, daily transactions through debit cards increased by 73.4 per cent vis-a-vis an increase of 24.8 per cent in credit card transactions. Sector experts attribute this to the ongoing economic slowdown and the cautious attitude towards spending money. Add to this the diminished focus of banks in issuing credit cards.
Union Minister Chirag Paswan predicts Nitish Kumar will be Bihar CM again after elections, criticizes opposition for targeting the Army and questioning Operation Sindoor.
Sacrifice these common misconceptions to improve your credit score this Eid
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.
Read on to understand the pros and cons of higher credit limit
Don't recharge your phone at public outlets -- carry a power bank instead. Avoid clicking on links sent by 'friends'. If you get into an online sexual encounter with a stranger and get blackmailed, refuse to pay up.
Gensol Engineering, the beleaguered firm that came under market regulator Sebi's lens for fund diversions and governance lapses, said that its independent director Arun Menon has resigned with immediate effect.
