PAYME
CIBIL 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, you'll have pay to a few lakhs extra for any big-ticket loan such as a home loan. It pays to be aware of why credit scores drop suddenly and how it can impact your life. ET Wealth Online speaks to various experts to decode how to maintain a healthy credit score or CIBIL score.
RBI to set up a fintech repository to increase transparency in lending by fintech
To help in increasing transparency in fintech lending RBI has proposed to come up with a Fintech Innovation Hub through which fintech would be encouraged to share inflation voluntarily. The central bank has said that it will operationalise this hub by April 2024. While this move by RBI will help an orderly growth of fintech industry but it will also help borrower in the long run.
How new RBI rules on floating rate loans benefit home loan borrowers
When the interest rates on a floating rate loan rise, borrowers may either see a hike in their EMIs, or an extension of the loan tenor, or both. However, lenders follow arbitrary practices in this regard. Taking cognisance of the numerous complaints received on the changes imposed by lenders without proper communication or consent of borrowers, the RBI has introduced a new framework for resetting floating rate loans. Here is how the new measures will provide succour to borrowers.
EMI on UPI Payments: Now ICICI Bank customers can scan a QR code and pay via UPI EMI
ICICI Bank has introduced EMI facility for UPI payments made by scanning QR codes. The newly launched PayLater EMI facility for UPI payments can be availed for purchasing electronic items, groceries, and apparel. It can also be used for travel and hotel bookings.
Digital lending apps issue clarifications after Centre's ban on loan apps
Some digital lending apps on Wednesday issued clarifications as the industry entered a panic mode after the Centre banned nearly 138 gambling apps and 94 loan apps over "Chinese linkage" concerns.
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Sebi allows mutual funds with active ELSS to launch passive schemes
Under the procedure, Sebi said that the fund house will have to stop all fresh inflows or subscriptions, including systematic investment plans (SIPs) and systematic transfer plans (STPs), to the actively managed ELSS scheme. This needs to be done after a written communication about the proposed change, along with reasons and benefits of such change, is sent to each unitholder.
Sebi allows mutual funds with active ELSS to launch passive schemes
The regulator has also specified the procedure for launching a passive ELSS scheme by a mutual fund house, which already has an actively-managed ELSS scheme.Under the procedure, Sebi said that the fund house will have to stop all fresh inflows or subscriptions, including systematic investment plans (SIPs) and systematic transfer plans (STPs), to the actively managed ELSS scheme
Fintech firm PayMe India elevates Vineet Daniel as CTO
Daniel joined the company as deputy product and technology officer a few months back. In his new role, he will be working closely with Mahesh Shukla, the founder and CEO, to define, prioritise and realise the product roadmap of the company.
Paytm's early investors clock returns despite lacklustre listing
Paytm’s market cap settled at $13.6 billion, lower than the $16 billion valuation it commanded at its last private fundraising. Its early backers, including SoftBank, Ant Group, Alibaba and Elevation Capital, still made money from the listing.
PayMe India founder's simple pleasure: Reading books to de-stress & recharge
Books are Mahesh Shukla's break away from the daily routine.
HSBC will leapfrog in India on back of Aadhaar: Kevin Martin
We took a very conscious decision to reduce the number of branches to focus our resources on the big 13 cities last year
Rs 20,000 cashback? Shoppers tap into Paytm Mall's GST-driven sale
Traders and distributors are selling their products at throwaway price points as they look to clear existing stock before new tax rates under GST become effective from next month.
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