The Reserve Bank of India (RBI) announced new rules for credit cards, applicable from July 1. "These directions cover the general and conduct regulations relating to credit, debit and co-branded cards which shall be read along with prudential, payment and technology & cyber security related directions applicable to credit, debit and co-branded cards, as issued by the Reserve Bank," the circular by RBI said. Business Standard culled out key rules from the list, and asked financial experts for advice on them, along with the thumb rules one needs to follow while using credit cards.
'We have interesting leads on the agents. The roles of agents in this entire operation, who were doing what.'
The Aston Villa 'keeper saved three penalties in the 2021 Copa America semi-final and Argentina went on to lift the trophy. Now he's stopped two more in a World Cup quarter-final and this could just be a good omen for Messi!
It is 10 years since Bandhan Financial Services became the first microfinance institution (MFI) to receive the universal bank licence. A year later, in 2015, it started operations. Bandhan's entry into banking was seen as a vote of confidence by the Reserve Bank of India (RBI) for the country's microfinance sector. Subsequently, the RBI awarded small finance bank licences to nine MFIs.
Mortgage lender HDFC Ltd on Wednesday announced an increase in its benchmark lending rate by 5 basis points (bps), a move that will make loans dearer for both existing and new borrowers. This is the third hike effected by HDFC in the last one month. "HDFC increases its Retail Prime Lending Rate (RPLR) on housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 5 basis points, with effect from June 1, 2022," the housing finance company said in a statement.
Sukanya Verma quizzes you to find out just how much you know about the movies.
Gaurav Mohta, chief marketing officer, Home First Finance Company, answers home loan queries.
For long-term financial security, millennials must not only provide social security for their young families but also ensure that their financial burdens are not passed down to their families, says Casparus Kromhout.
A prudent guideline for self-employed individuals is to target at least 10 to 15 times their actual annual income when determining life insurance coverage.
A summary of Sunday's action in the English Premier League.
Argentina clinched a comfortable win in a friendly against Indonesia, making it two wins from two for the world champions on their short tour of Asia.
The real estate market has seen a decline in affordability due to the recent rise in median loan rates as a result of the 50 basis points (bps) hike in repo rates by the Reserve Bank of India (RBI). A cumulative increase of 0.95 per cent in median home loan rate has impacted the purchase affordability and purchase decisions of homebuyers, according to the Affordability Index by Knight Frank. The Affordability Index tracks the EMI (equated-monthly instalment) to income ratio for an average household.
'People try to repay the BIGGEST LOAN first. Actually, you should repay the most expensive loan first.'
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
While the RBI's guidelines aim to streamline the loan closure process, borrowers must remain proactive.
'If someone were to ask you if you want to die tomorrow, no matter what problems you are grappling with, you would be hesitant, right?'
Look at the sanctioned plan to know the exact carpet area you will get and pay a law firm to conduct a thorough title check.
Whoever can make acquiring smartphones more affordable will win the sales game.
Rishi Piparaiya lists three simple steps to manage the impact of rising prices and protect your financial future
'Negotiate a longer agreement with the escalation clause fixed now.' 'This will enable you to control future cost increases.'
Before taking such loans, compare the interest rates charged by various players, advises Sanjay Kumar Singh.
Avoid discontinuing your SIPs. Persist for at least 7-10 years.
Can Bhavish Aggarwal upend the electric two-wheeler market, which is now overwhelmingly in favour of scooters?
Its debit card holders can now withdraw cash from any ATM without charges till June 30.
Luxury carmaker Mercedes-Benz India on Thursday said it will increase prices of its vehicles ranging between Rs 2 lakh to Rs 12 lakh across different models from April 1, to offset rising input costs specially the adverse impact of foreign exchange. This will be the second time in three months that the company is increasing prices of its vehicles. The ex-showroom price of the company's model range will increase by up to 5 per cent from April 1, 2023, the company said.
Chartered accountant and Sebi registered investment advisor, Harsh Vardhan Roongta, answers your home loan queries
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
The depreciation in rupee may pose a problem for students who have taken loans from Indian lenders.
Avoid discontinuing your SIPs. Persist for at least 7-10 years.
You can get a lumpsum sanctioned, but you may draw only part of it and pay interest on the amount used.
By winning the World Cup on Sunday, the Argentine football team asserted its ability, but Martinez also proved that the Argentines can be bad sportsmen.
On November 12, 2021, the Reserve Bank of India (RBI) decided to ring in uniformity in asset classification and income recognition across all lending institutions. Shadow banks, or non-banking financial companies (NBFCs), like commercial banks, are to test non-performing assets (NPAs) on a daily basis and upgrade them to "standard assets" only when interest and principal arrears are settled by borrowers. This is going to create all manner of headaches for shadow banks and their clientele. Says Y S Chakravarti, managing director and chief executive officer (CEO), Shriram City Union Finance: "NPA levels will go up, especially of small borrowers.
With Deputy Governor Viral Acharya and another member Chetan Ghate voting for a status quo, RBI governor Shaktikanta Das and three others outvoted them for reduction in repo rate to 6.25 per cent from the existing 6.50 per cent.
A home loan is a long-term contract, so do shop around before signing on the dotted line, advises Sarbajeet K Sen.
Images from the English Premier League matches played on Sunday night.
A merchant using the bank's merchant App, QR code, PoS or Payment gateways, across all segments, including electronics, apparel, grocery, stand to win assured cashback and prizes on volume build-up, EMI or digital transactions.
The National Investigation Agency arrested an Afghan national in connection with the seizure of 2,988 kg of heroin at Mundra port in Gujarat, an official said on Tuesday.
Rising EMIs owe their origin to the 'floating' benchmarks to which banks peg home loan rates. The lack of transparency in these benchmarks is now under scrutiny. What to do while the regulators fix it.
