HDFC Bank on Thursday said network outages that led to a regulatory ban on new credit card sales were not due to transaction volumes, and affirmed that it continues to stay in touch with the RBI for restarting the services but giving a timeline for it will be difficult. The bank said it is on its way to creating a new technology architecture for the future as part of the "digital factory" and "enterprise factory" initiative. But, it conceded that outages will continue under the older system though it will be working to minimise the time taken to bring the service back. In December 2020, the RBI took the unprecedented step of stopping the largest private sector lender from selling any new credit cards and also launching new digital services, because of a series of network outages.
Here are four ways to keep your credit score in the green
Consumers can effectively make payments using UPI and other debit cards, credit cards and internet banking across 120 banks and over 120 billers, Xiaomi said.
Global rating agency Moody's on Monday said HDFC Bank's multiple digital outages are credit negative as such recurring incidents could lead to moderation in revenue and flight of customers to other banks. The recurring outages also risk hurting the bank's brand perception among a growing and increasingly digitally savvy customer base, and increases the potential that clients switch to other banks, which would lead to a reduction in revenue and low-cost retail funding, Moody's said in a statement.
Cyber criminals are using apps and young women to trap people through mobile phone calls and video chats.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
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
As much as 20 per cent of the gross merchandise value (GMV) of sales made on e-commerce platforms is being financed through the no-cost EMI route, up from 4-5 pc two years ago.
'If a stranger refuses to pet my Russian dog, what treatment can I expect for myself?'
The value of transactions through debit and credit cards used at the PoS fell to Rs 64,200 cr in February
The branch managers have come out of their glass cabins and the sellers' market has transformed into a buyers' market, but there is no end to the harassment of customers, asserts Tamal Bandyopadhyay.
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.
Credit cards prove useful when making high value transactions.
IndusInd Bank, has recently launched www.themorestore.com only for its credit card and debit card holders
Sukanya Verma looks at the variety of daughter characters served by Bollywood on the big screen.
Protect yourself and minimise such frauds by following these simple rules
Oath, the rebranded Yahoo, did not specify what information was at risk for the users, but said that hackers did not steal passwords, credit card numbers or bank account information.
Each enquiry could pull down the credit score by 5-10 points.
Banks are pushing into credit cards and personal loans, using blanket advertising, cold call campaigns and even sending employees to malls to lure customers.
The Delhi high court on Monday allowed journalist Rana Ayyub to travel abroad while questioning the Enforcement Directorate over a Look Out Circular (LOC) issued against her barring her from travelling abroad.
Kotak Bank was the top loser in the Sensex pack, shedding over 2 per cent, followed by ICICI Bank, PowerGrid, HDFC, IndusInd Bank and Axis Bank. NSE Nifty declined 45.75 points to 16,568.85.
If you are a Citibank credit card holder in Bangalore, and use a Vodafone mobile phone service on a Nokia 6212, you need not carry that Citi credit card anymore.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
Identity theft occurs when someone uses your information to commit fraud or other crimes.
It is thus advisable to opt for a personal loan as, the interest charged on such loans are far less.
Use a "virtual credit card" for every online transaction when you can't pay cash on delivery.
Middle class Indians have grown up with the belief that living on credit is essentially a bad thing. You are in trouble if you think the same, cautions Rajiv Raj
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.
Making cash payments at bank counters to settle your credit card dues is getting expensive. Credit card issuers led by ICICI Bank and HDFC Bank have started levying a fee on such payments.
Total payments in the economy grew 24.08 per cent to Rs117.43 trillion in value terms in June, compared to Rs94.64 trillion in May.
Its debit card holders can now withdraw cash from any ATM without charges till June 30.
Choose from a range of accessories to make his life easy, enjoyable and stress-free.
There are four distinct advantages the most important being getting a good credit score
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The recent Reserve Bank of India (RBI) norms on tokenisation services, which will be offered by card networks, are likely to result in merchants and payment aggregators incurring a cost as they have to pay a fee to the networks. The merchants and the payment aggregators, in turn, may pass on the cost to the customers. The norms, which were issued by the banking regulator released on September 7, allow card networks like Visa and Mastercard to offer the tokenisation service.
From road transport to health insurance, tax rules have changed from October 1.
Here's the formula and it is not too difficult to implement.
The farm sector has been resilient to the COVID-19 shock and is estimated to grow at 3.9 per cent this fiscal, the Economic Survey said on Monday, while suggesting to the government to give priority to crop diversification, allied farm sectors and alternative fertilisers like Nano urea. The Economic Survey 2021-22 also pitched for increasing agriculture research and development (R&D) and organic farming, besides use of new technologies like drones. "The performance of the agriculture and the allied sector has been resilient to the COVID-19 shock. ...Growth in allied sectors including livestock, dairying and fisheries has been the major drivers of overall growth in the sector," the Survey said. The agriculture sector has experienced buoyant growth in the past two years.
Fair trade regulator CCI has approved private sector lender Ratnakar Bank' proposal to buy Royal Bank of Scotland's credit card business, mortgage portfolio and banking operation in the country, saying the deal will not have an adverse impact on competition.
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