CREDIT CARDS PERSONAL LOANS
ONDC to add banks, fintechs to take credit services to last mile The homegrown Open Network for Digital Commerce (ONDC) will soon integrate banks such as HDFC Bank, IDFC First Bank and Karnataka Bank, alongside fintech companies like Fibe, sources told us. This comes as the network began early pilots for credit d...
04 Jul, 2024, 06.01 AM ISTITR filing: Credit card and forex spend reported separately by banks in AIS, know the impact and what you can do Income tax return: While filing your ITR make a note that banks are now reporting total forex spends as a separate category in addition to total credit card spends. According to Gopal Bohra, Partner, N.A. Shah Associates, "Transactions through inter...
02 Jul, 2024, 03.01 PM ISTPSBs on the margins in credit cards, but NPAs ahead by a wide margin Public sector banks in India are navigating the credit card market, facing challenges with high NPAs. The focus on tier-II and tier-III cities is driving credit card sales, with State Bank of India and Bank of Baroda leading in card spending through...
02 Jul, 2024, 12.48 AM IST- ADVERTISEMENT
Top fintechs dial NBFCs for secured credit partnerships Fintech startups, having built trust as unsecured loan providers, are setting their sights on the secured credit market. Companies like PhonePe, Cred, and Paytm are seeking collaborations with non-banking financial institutions (NBFCs) to facilitate...
01 Jul, 2024, 06.00 AM ISTPersonal loans dearer post RBI risk nudge Banks adapt to RBI's risk weight changes by adjusting rates and enhancing capital adequacy. The pricing of new loans reflects increased risk, ensuring stability in unsecured lending. Tightened underwriting standards support sustained growth and port...
29 Jun, 2024, 09.01 AM ISTRetail loans moderate for the 10th straight month The Reserve Bank of India reported that bank lending to the retail sector moderated for the tenth consecutive month in May, reaching 17.8% from 19.1% a year ago. Corporate loans grew faster at 8.9% compared to 6% in May 2023. Non-food bank credit sa...
28 Jun, 2024, 07.46 PM ISTCredit Card issuance soars despite worries over unsecured loans Credit card base in India grew 18% YoY to reach 103 million, with HDFC bank adding the most new cards. However, Kotak Mahindra bank saw a sharp drop amid RBI restrictions. Card spending also grew 17% YoY to reach Rs 1.65 trillion. The credit card in...
27 Jun, 2024, 12.40 AM ISTCitibank credit cards migration to Axis Bank to be completed on July 15; credit cards migrated, new benefits, 9 important FAQs Citibank credit cards migration to Axis Bank: According to the Axis Bank website, here is a look at the Citibank credit cards that will be migrated, the new terms and conditions, fees and charges, rewards, and other important migration details.
20 Jun, 2024, 11.28 AM ISTAxis Bank-Citibank credit card migration: 9 Citi cards transferred to Axis Bank; new credit card names, benefits, reward points Axis Bank-Citibank credit card migration: Citibank credit card holders should note that your card number, CVV, and transaction limits will stay the same after the migration. Your annual fee, spend-based fee waiver limits, and statement date will als...
20 Jun, 2024, 11.06 AM ISTPersonal loan interest rates June 2024:Which bank is offering the lowest interest rate on personal loans Personal loan interest rates June 2024: The interest rate on a personal loan varies across lenders and is determined by several criteria, such as the borrower's credit score, loan amount, and loan duration. Here is a list of banks' personal loan int...
17 Jun, 2024, 11.57 AM ISTCIBIL or credit score drop can cost you Rs 19 lakh more on a Rs 50 lakh home loan; 4 ways to avoid it Many social media users are reporting sudden credit score dips. Erroneous transactions, lender misreporting, and late credit card or BNPL payments, over-utilisation of credit limits are some culprits. If you have a poor credit score or CIBIL score, ...
08 Jun, 2024, 10.50 PM ISTRisk weighting slows unsecured loan growth The growth of unsecured credit in India, including personal loans and credit card outstanding, slowed to 18% in April from 23% in November 2023. The Reserve Bank of India's risk weighting on such exposures aims to reduce delinquencies in the banking...
04 Jun, 2024, 12.23 AM ISTTop features of personal loans and the factors to consider before getting one All you need to know about personal loans and what you should keep in mind before opting for one.
27 May, 2024, 03.49 PM ISTTighter regulations on personal loans and project finance may hurt banks in FY25 Indian banks had a strong fiscal 2024 but face challenges in the current year due to regulatory changes impacting credit growth and net interest margins. Return ratios and riskier lending are also areas of concern as the market adapts.
14 May, 2024, 12.38 AM IST514 million person years of employment generated in 10 years of the Modi govt: SKOCH A SKOCH study of 12 central schemes, including the Mahatma Gandhi National Rural Employment Guarantee scheme, the Atmanirbhar Bharat Rozgar Yojana, the Pradhan Mantri Grameen Awas Yojana and the Pradhan Mantri Grameen Sadak Yojana, among others show...
13 May, 2024, 06.56 PM ISTTVS Holdings to acquire 80.74% stake in Home Credit India Finance for Rs 554 crore TVS Holdings Ltd on Friday said it will acquire 80.74 per cent stake in Home Credit India Finance Pvt Ltd for an aggregate consideration Rs 554.06 crore.
10 May, 2024, 01.56 PM ISTAre loans against MF investments better than credit card or personal loans? Shweta Jain answers Shweta Jain advises against impulsive borrowing, recommends loan alternatives to credit cards, and stresses timely repayment. Mutual fund loans offer lower rates, varied tenure, with caution needed on charges and provider selection, regardless of ag...
09 May, 2024, 09.53 AM ISTWhat are Gen Z’s top 3 rules for investing & what are the red flags? Pranjal Kamra explains Pranjal Kamra warns against accumulating personal loans and credit cards, emphasizing the importance of understanding asset classes, maintaining risk control, and being debt-free to avoid financial pitfalls. Kamra also says that for a beginner, it i...
06 May, 2024, 10.38 AM ISTHiring of temporary staff to sell credit cards, personal loans continues to grow The demand for manpower to sell credit cards and loans in India is increasing, despite the Reserve Bank of India's stricture on unsecured loans and the growth momentum in personal loans tapering off in February. Frontline sales jobs from BFSI compan...
18 Apr, 2024, 11.54 PM IST5 smart money moves to make in your 20s Build an emergency fund to cover unexpected expenses like medical bills or car repairs. it can help you avoid expensive personal loans.
01 Apr, 2024, 06.30 AM IST