The overdraft facility has been sanctioned in only 40,000 accounts
Though Indian banks don't have large exposure to subprime mortgages, analysts are worried at the rise in their restructured loan portfolios and deterioration in credit quality.
The Reserve Bank of India has told banks not to levy penal charges for non-maintenance of minimum balances in any inoperative account.
Because they can easily find them out by analysing your financial transactions.
Details of identity and residence will not be required for exchange of notes between April 1 and June 30.
The Kolkata-based firm already has a presence in 22 states with over 2,000 branches and 5.9 million borrowers.
The idea of the payment banks is to provide access to banking for people, especially in rural areas.
Besides return and risk, investors also need to weigh the liquidity of the instrument they are putting money in
Managing your own money is empowering. And if you haven't started yet, now is the perfect time!
The 30-share Sensex ended down 215 points at 27,011.
'Let me talk about young Indian startups with their hearts in the right place and how they are proving that innovations that represent 'affordable excellence' -- breaking the myth that 'affordability' and 'excellence' cannot go together -- is indeed possible!' says Dr R A Mashelkar, the eminent scientist, in this fascinating feature.
Some banks might charge you a nominal amount of Rs 100-150 for issuing the card.
The poor and unbanked can take their rightful place as consumers of financial services only if the Modi government encourages different entities to advance the financial inclusion agenda, say Vikram Gandhi & Chandni Ohri.
It is often said, learn from your mistakes. We can twist that saying a little; learn from your mistakes and people who make mistakes. You do not have to make the mistakes to learn from them, says Priyanka Chakrabarty.
The deduction will be higher and net take-home pay will fall.
Days after the PM announced a financial inclusion package, a look at how banks and insurance firms are going about it and what lies ahead.
RNOR status is a sub-set of the Resident Status.
The Reserve Bank of India (RBI) on Thursday paved the way for niche banking by issuing draft guidelines for setting up payment banks and small banks.
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Indian households put bulk of savings in bank deposits and insurance; the returns are minimal. If you're part of this, change.
At ATMs, as a step to avoid getting Rs 2,000 notes, people are withdrawing Rs 1,900 in Rs 100 notes and then putting another request for the balance Rs 600, so that they remain within the limit of Rs 2,500 per day of withdrawal.
An emergency fund, as the name suggests, is one in which you have three months to six months' salary.
Sandeep Shanbhag, a chartered accountant and director of Wonderland Consultants, a tax and financial advisory firm, discussed the impact of Budget proposals in a chat with Rediff.com's readers.
The official twists and turns have raised questions on the government's credibility and its ability to pull the nation out of the demonetisation quagmire. To keep up with the new rules, the government has issued an updated FAQ on demonetisation.
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