On 19 August, Reserve Bank of India (RBI) gave an initial nod to 11 entities to start payment banks. What are payment banks? Payment banks are basically banks with limited banking functions. They don’t work like a full-fledged bank but provide limited services, such as acceptance of deposits, payments, remittance services and internet banking. They […]
Union Bank of India recently launched one debit card and two credit cards in partnership with Visa. With these cards, Union Bank customers are likely to experience more convenience when accessing digital banking. Let’s see what the cards have in store for the customers: Business debit card for all businessmen with current accounts. The […]
Now banks can enjoy increased flexibility in shifting or closing of urban branches as The Reserve Bank of India has waived regulatory approvals. Shifting the metropolitan, urban or semi urban branches outside the state does not require approval of RBI. However, rural and sole-urban branches, will still require prior permission. It is the duty of […]
Worldline India, a payment processing company, recently conducted a study Worldline India’s Card Payment report 2014–15 on the impact of Jan Dhan scheme on debit and credit cards. The company concluded that with increasing enrollments in Jan Dhan Yojana, the debit card and credit card base in India has grown by 40% and 9.8%, respectively. […]
The prices of the yellow metal touched four-year low at Rs 24,700 in July this year. The gold prices have corrected by about 12% this year from the initial level of Rs 28,000 in January 2015. We Indians are famous worldwide for our insatiable demand for gold. Yearly, we import about 600-650 tonnes of gold. […]
Today, most of us have multiple savings accounts but we are unable to track each one of them due to lack of time or sheer laziness. Unfortunately banks don’t accept such excuses J So, irrespective of the reason, if ignored for two years, your savings or current account can become inoperative. This time period may vary […]
It is every parent’s dream to give the best education to their child and parents spend 30% of the take home salary for this dream. But high inflation in education is giving parents tough time to achieve this goal. A recent survey done by ASSOCHAM Social Development Foundation –“Rising school expenses irks parents” — highlighted […]
Tamilnad Mercantile Bank Limited recently launched TMB prepaid card and TMB gift card to assist customers with digital banking. The TMB prepaid card functions similar to a debit or credit card with the RuPay platform. This payment instrument is valid for five years and the top-ups are available in multiples of Rs 100. This multipurpose […]
The Reserve Bank of India (RBI) has tightened the norms for NPA classification of credit card accounts. Until now, you had 120 days’ time to pay your credit card bills before being classified as a non-performing asset (NPA). But now things are set to change. If you don’t pay your minimum credit card dues within […]
Here is a list of things you should know when you opt for loan against property.
