Though manufacturers advertise it as a 'zero processing fee' offer, credit card companies may still levy charges making the phone expensive by over eight per cent.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Interview with Uday Kotak, executive vice-chairman & MD, Kotak Mahindra Bank.
The collective headcount of the five banks stood at 1,99,555 as on March 31, 2013.
The agency sources said that the CBI has registered a case against officials of four banks -- State Bank of India, State Bank of Mysore, ICICI Bank and Kotak Mahindra Bank.
The department of financial services has decided to give banks commission, to ensure these accounts are kept active.
Others shortlisted by the Department of Disinvestment for the NTPC offer were Deutsche Bank, SBI Capital Markets and Kotak Mahindra Capital.
The deal is the first major bank takeover in 4 years
More than 90 per cent stocks in the NSE 500 universe are currently trading above their 200-day moving average (DMA). Experts say this is a sign that the market has become overheated and can lead to a correction or sideways movement for a long period. The 200-DMA is a key technical indicator used by traders to get a sense of market direction. A level, which is roughly a 40-week average, often acts as key support or resistance.
BharatPe co-founder Shashvat Nakrani has accused Ashneer Grover, with whom he had co-founded the payment startup, of creating a false narrative about the company, and said the board acted quickly and decisively in unseating him after receiving finds of a PwC report. BharatPe, which allows shop owners to make digital payments through QR codes, last week stripped Grover of all titles and positions over his alleged "misdeeds" and may take further legal actions, including clawing back of some of his shareholding. In a letter to employees, Nakrani said the Grover episode was an aberration and not the norm at BharatPe, and went on to defend the board who he said were celebrated names in the banking and financial services industry.
Since its launch in April, helpline 155260 has been able to prevent more than Rs 18.5 million of defrauded money from reaching the hands of fraudsters.
M&M's used car biz becomes the first private firm to tie up with a bank for conducting online auctions of repossessed and off-lease cars. Ajay Modi reports.
CAD, which is the difference between outflow and inflow of foreign currency, touched a historic high of 6.7 per cent in the third quarter.
Ashishkumar Chauhan says that the exchange is seeking a valuation of about $1 billion.
Kotak Mahindra Bank to have a 19.9% stake in the proposed banking venture.
Board to ask National Securities Depository to unfreeze 5% of FTIL's stake.
After launching accounts on Facebook and Youtube, the country's largest lender State Bank of India (SBI) took one more step on the social media front by launching a twitter handle.
Consider taxation and currency risks before choosing between NRI, NRO and FCNR accounts.
The retail inflation rate breached the 6 per cent upper tolerance limit of the RBI for the first time in seven months in January, while the wholesale price index stayed in double-digits for the 10th month in a row, showed two sets of data released by the government on Monday. Retail inflation, the key input for the RBI while reviewing the repo rate every two months, soared during the month mainly because of a spike in certain food items. The previous high for retail inflation was 6.26 per cent in June 2021.
Banks offering a higher rate on savings bank deposits have seen robust growth in the past year but the momentum might get slower as interest rates turn more benign.
FMC approves commodity bourse's contract-launch calendar for two years.
'For a responsible person like him to utter such nonsense is shameful.' 'He is not fit to be a director on the RBI central board.'
Reliance Industries was the top gainer in the Sensex pack, surging over 3 per cent, followed by Bajaj Finserv, IndusInd Bank, HDFC twins and Kotak Bank. NSE Nifty surged 143.25 points or 1.18 per cent to 12,263.55.
Anupriya Goenka's humble abode!
Following the 30-day moratorium placed on Yes Bank, asset management companies have asked their clients, who have bank accounts with the troubled lender, to furnish details of alternate accounts for receiving redemption payouts. Redemption is the return of an investor's principal on a fixed income security such as a bond, mutual fund or preferred stock.
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.
While lending rates have been jacked up on an average of 5-10 bps by private sector lenders like HDFC Bank, Axis Bank, Kotak Mahindra Bank and Yes Bank since January, almost all the PSBs have been increasing their bulk deposit rates in the range of 15 bps to 125 bps.
On October 31, Chaudhuri was arrested from his Delhi home by the Jaisalmer police for his alleged role in crippled Rs 200 crore Garh Rajwada hotel project in the city which was sold for Rs 25 crore to Alchemist ARC in March 2014. The project was financed by the bank in 2007.
More than three weeks have passed since the Reserve Bank of India's (RBI's) new guidelines on e-mandates for recurring payments came into effect but consumers are still taking to social media platforms to complain about the disruptions they are facing. This comes as most stakeholders in the ecosystem have not put in place systems in accordance with the new rules, resulting in many transactions not going through. Industry sources said most banks are still not ready, especially the smaller ones.
Nearly two million e-mandates for recurring payments have been registered with banks and card networks after the Reserve Bank of India (RBI) made it mandatory from October 1 to take prior consent of a customer before debiting her account, sources in know of the matter said. Industry estimates peg the recurring transactions at approximately 2.5 per cent of the total volume of transactions, and about 1.5 per cent in terms of value. Of these, around 75 per cent of domestic recurring transactions, and about 85 per cent international recurring payments are below Rs 5,000.
Observers say more banks, especially public sector entities, which have a 70 per cent market share, will also join the battle to get more cheap deposits.
Panic gripped Kolkatans on the first day of the year after a fire broke out on the seventh floor of a multi-storied building in the posh Park Street area here but no one was injured.
These trusts are being registered under a new framework.
Besides financials, shares of telecom, IT, auto and pharma were in demand.
ATMs are on their way to becoming a one-stop shop for most banking services. Here's what your ATM can do for you.
MMID is a seven-digit number issued by your bank for transactions through mobile banking.
'It has taken us 15 years to get to where we are. It obviously doesn't happen overnight.'
The Reserve Bank's rate-setting panel, Monetary Policy Committee (MPC), began its three-day deliberations on Wednesday amid expectations of a status quo on benchmark rate mainly on account of uncertainty over the impact of the second wave of COVID-19 pandemic. Moreover, the fears of firming inflation may also refrain the MPC from tinkering with the interest rate in its bi-monthly monetary policy outcome to be announced on Friday. The RBI had kept key interest rates unchanged at the last MPC meeting held in April.
If you are a motorsport enthusiast, be sure to be there at the Somaiya grounds in Sion East, Mumbai, on Sunday, February 20. Some of the best two and four-wheeler drivers will be in action in an Autocross event, billed as RotoCross, organized by the Rotary Club of Deonar, Mumbai, along with Sportscraft, under the aegis of FMSCI.
The other board members will be Sunil Mehta, former non-executive chairman of Punjab National Bank, as the non executive chairman of Yes Bank, Mahesh Krishnamurthy and Atul Bheda as non-executive directors.
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