Duped companies in the US and wired money to India and Pakistan.
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.
Sharing your credit card with the spouse has it perks. Read on to find out more!
RBI has advised banks to set up internal control systems to combat frauds, take pro-active measures, ensure credit card operations are safe, sound and profitable, preventive measures to combat frauds relating to skimming or duplication of cards.
Customers having multiple credit cards will now not be allowed the luxury of using any of them if they default on making payments for even one, thanks to stringent measures being adopted by banks.
ICICI Bank, the biggest credit card issuer, has made it conditional for some of the credit card applicants, who do not meet the bank's eligibility criteria, to open FDs under a scheme called Fixed Deposit Instant Credit Card.
The credit cards phenomenon has invaded India and most people have gotten so used to it that they can not live with out it. However, unlike in the west, the dice here in India is totally loaded against the user as the Reserve Bank of India is able to do very little in securing the user.
SBI Cards, like most other credit card issuers in the country, suffered losses during the financial crisis of 2008-09 due to sharp increase in delinquencies. The company, a joint venture between State Bank of India and GE Capital, turned profitable in 2010-11. Kadambi Narahari, chief executive officer, shares the strategy to grow the company's cards business in coming years.
Here are some simple tips that can save you a great deal of money and reduce financial stress.
If you're considering settlement as a solution to end your debt problems, take a step back and consider the risks associated with such settlements.
ICICI Bank, the largest private sector lender in the country, has outpaced its rivals in growing its credit card base during financial year 2013-14 (April-March).
An Enforcement Directorate team undertaking searches in a cyber fraud linked money laundering case was allegedly attacked in New Delhi on Thursday, officials said.
HDFC Bank on Wednesday reported a 2.3 per cent year-on-year rise in its consolidated net profit to Rs 17,657 crore for the October-December quarter, restricted by slower loan growth. On a standalone basis, the largest private sector lender's net profit came at Rs 16,735.50 crore for the period, up from Rs 16,372.54 crore in the year-ago period, but marginally down from the preceding quarter's Rs 16,820.97 crore.
Calculate the savings six months after you follow these rules and you will always thank yourself for reading this piece today!
Are you getting credit cards even if you have not applied for one? Here's how the Reserve Bank of India will protect you against this practice now.
In difficult times when you are short of means to pay for your credit card bills, paying minimum gives you a breather. However, it may not save you from finding a concrete solution for paying your credit card debt.
It makes sense to go for a cash back card only if you are a big spender, otherwise the benefits are almost equal.
Credit cards are fast emerging as an acceptable mode of payment for many instruments. At present, insurance payments can be made through cards. Soon, mutual fund investments could be allowed as well.
The investigative arm of MRTPC has alleged flagrant flouting of the November 2005 RBI guidelines on credit cards by commercial banks like ICICI, HSBC and Citibank.
After lying low since its foray into the credit card business two years ago, Life Insurance Corporation (LIC) of India on Monday announced a tie-up with Axis Bank to offer co-branded credit cards to its policyholders and employees.
Most of the fees that a credit card company charges can be avoided. Here is a list of few.
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.
A local court in Lucknow has directed the police to lodge an FIR against ICICI Bank CEO Chanda Kochhar and head of card operations Vinay Valse in connection with allegations of cheating and fraud over online shopping through credit card.
The new lens is flat, distortion-free and so small that more than 1,500 would fit across the width of a human hair -- capable in the future of replacing lenses in applications ranging from cell phones to cameras to fiber-optic communication systems.
Here is what could have played a spoilsport in your case. See if you can find a reason for yourself and correct it before re-applying.
Black is the new platinum as the field for elite credit cards gets crowded.
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A discount on the product may make a credit card loan seem cheaper than a consumer durable loan. But missing a payment in case of the former will mean exorbitant charges.
If you are panic-stricken because of your inability to repay even your minimum amount due on your credit card, help is at hand.
The effects of overpowering credit card bills can spill over into all parts of life, affecting your job, your family life and even your health. Here's how to avoid pain.
Reserve Bank of India set to bring transparency in credit card operations.
Kotak Mahindra Bank has acquired the non-performing portfolio of Barclays Bank's credit card business in India. The deal, experts said, gives momentum to the sale of stressed loan market in the country which has been having a dry run following stringent regulatory norms introduced in 2007.
Two hundred Malaysians are now among the first in the world to pay for goods and services using their cellular phones which can act as extensions of their Visa credit cards.
The card was used to purchase jewellery and electronic gadgets.
There have been complaints about bills claiming pending repayments months after the user has terminated the card contract.
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