Subsequent to the government’s suggestion for the State Bank of India to initiate a merger with its associate banks, the government has now made a similar suggestion to UCO Bank, Indian Overseas Bank and Bank of India. The main reason for this suggestion is the poor performance of these banks. The three banks – UCO […]
Manappuram Finance, a leading gold loan NBFC (non-banking financial company) headquartered in Kerala, has voiced intentions of introducing a co-branded credit card in order to provide gold loans to customers who do not have a bank account. The key benefit for Manappuram Finance through introduction of these co-branded credit cards is the expected expansion on […]
Reserve Bank of India (RBI) has licensed 26 banks and 7 non-banking companies to operate as Bharat Bill Payment Operating Units (BBPOUs). RBI had received 80 applications from banks and 62 applications from non-banking entities for the BBPOU license. The 26 banks include State Bank of India, HDFC Bank, Axis Bank, Bank of Baroda, Kotak […]
In a period of continued price rise, saving up for months and years to buy a car is indeed a tough task. In this situation a car loan is one borrowing instrument that scores high with the average middle class Indian as cars are nothing short of a necessity. This rising demand has led to […]
Driven by sales of four premium models, Vitara Brezza, Ciaz, Baleno and S-Cross, Maruti Suzuki India (MSI) registered a sales growth of 16.2% and garnered over 48% market share in April 2016. These four premium models have been the primary growth drivers, contributing more than 25% share of its domestic sales of 1,00,709 units in […]
The Reserve Bank of India (RBI) released draft guidelines for granting on-tap universal banking licences to individuals and entities on May 5. The proposed licensing policy will be a departure from the current policy under which RBI periodically opens window for granting banking licenses. Under Raghuram Rajan’s tenure, RBI has already issued banking licenses to 2 universal […]
HDFC (Housing Development and Finance Corporation) Bank, one of the largest private sector banks in India, has voiced intentions to substantially expand its credit card customer base over the next year. With a view to increasing its share of the plastic money business, HDFC Bank plans to double the number of cards it issues every […]
Interest-free period refers to the time period between a purchase made on the credit card and its due date. This interest-free period is provided to you as long as you pay the full outstanding amount by the due date. If you fail to do so then you incur Finance Charges also known as Credit Card Interest Rate. You can get about 50 days of interest-free period on your credit card. More details on Interest-free period and expense management are given below.
Although credit cards are a boon in the modern world they are often exposed to frauds and scams of different types. Banks and credit card companies are working proactively to offer increased security to the patrons but hackers and scammers are architecting innovative ways to trick card holders. A sharp rise in credit card frauds […]
YES Bank has received in-principle approval from the Securities and Exchange Board of India (SEBI) to offer custodial services to financial market participants. The license of custodial services allows a bank or a financial institution to hold financial securities such as stocks, bonds and gold. YES Bank has already received an approval from Reserve Bank […]
