BUSINESS
Moneycontrol MF Summit: Rural markets, the new frontier for MFs
The mutual fund journey has just begun for a large part of rural India. Coming from a background of safe bank deposits, people will need to be given awareness about mutual funds and their advantages.
BUSINESS
Credit on UPI: Here’s how it works, and its benefits
Incorporating a credit line with one’s UPI app eliminates the need to carry multiple credit cards. It will be interesting to see if the banks offer reward points and other benefits typically offered to credit card holders.
TRENDS
RBI proposes card-on-file tokenisation: Tighter security, more convenience for customers
The card-on-file tokenisation facility directly at the issuer-bank level will give customers greater control over managing their card tokens, allowing them to add and delete tokens without going through the merchant website.
BUSINESS
Tax-saving FDs: These banks offer interest rates of up to 7.5%
Risk-averse investors and those in lower tax brackets can look at tax-saving fixed deposits.
TRENDS
World Financial Planning Day: Overseas travel, FIRE high on priority list, say advisors
After the pandemic, many Indians are looking forward to early retirement and, unsurprisingly, the frequency of overseas travel has increased.
BUSINESS
Fixed deposit: Top 10 banks where investors prefer to park their money
According to data released by the RBI, there are seven public sector banks and three private banks, which put together, have a 76 percent market share in bank fixed deposits.
BUSINESS
Five financial changes that may impact you this October
They include the new tax collected at source structure for foreign remittances, the way you spend during festival season, and tracking the RBI’s monetary policy announcement for any repo rate hike
BUSINESS
Investing in mutual funds just got easier: All you need is a Visa debit card
To begin with, this facility will be available only to Visa debit cards issued by Federal Bank and ICICI Bank. The service will soon be available to more Visa cardholders. MF houses AMCs that use the Razorpay payment platform will activate this service for investors.
BUSINESS
Have reported over 700 illegal digital lending apps for review, action: Fintech Association CEO
In the revised Code of Conduct, FACE has brought in additional good practices in each section to raise the bar of responsible lending, said Sugandh Saxena.
BUSINESS
FD rates: Banks that offer up to 8.6% interest on 3-year deposits
FD rates: The interest rates on FDs offered by leading public sector banks SBI, Union Bank of India, etc. are not as competitive as rates offered by small finance banks and private banks.
BUSINESS
People under 40 account for 80 percent of loans from digital lenders: FACE-Equifax study
Borrowers in the 31-40 age group account for the highest market share, followed by those in the 26-30 band, the report has found.
BUSINESS
Banks to pay Rs 5,000 a day for delay in returning property documents: RBI
The Reserve Bank of India said original property documents must be returned within 30 days of borrowers settling their personal loans.
BUSINESS
How to use QR codes and UPI AutoPay to make recurring payments
With UPI AutoPay on QR codes, merchants gain a steady, frictionless way to receive regular payments. This is a two-step process that takes under 30 seconds.
BUSINESS
Account aggregators: Here’s how to share your MF data with your bank or advisors
Account aggregators are a game changer as they provide a digital dashboard to your financial life, helping you avail of loans quickly and adding a financial advisor seamlessly.
BUSINESS
How to use digital Rupee to make UPI payments
Among the banks which have introduced interoperability with UPI on their eRupee app are Axis Bank, Canara Bank, HDFC Bank, Kotak Mahindra, and Yes Bank. However, an ecosystem needs to be built for the retail adoption of the digital Rupee.
BUSINESS
Eight financial changes that may impact you this September
From the end of deadlines for exchanging Rs 2,000 notes, providing nomination or opt-out for investments in MFs and demat accounts to significant changes to Axis Bank Magnus and Reserve card, there is much happening in the financial arena you need to be aware of.
BUSINESS
Why are banks cutting down on free airport lounge visits?
Complimentary visits to airport lounges, which were once a big draw to attract new customers, are now a burden. Banks and credit card companies are now cutting down on free visits.
BUSINESS
Reeling under huge credit card debt? Here’s how balance transfer helps
Credit card balance transfer method is one of the many ways to reduce your credit card debt. But make sure you have the discipline to pay off your debt in time. But if the debt is too high, a credit counsellor is a better option.
BUSINESS
Kaun Banega Crorepati: How to build a corpus of crores by the time you’re 60
Many people feel that to be financially free, you need to earn a lot but that’s not entirely true. Planning, starting early, and being disciplined can be more important
BUSINESS
Return to origin: Why NRIs return and why people with roots here are drawn to India
Moneycontrol spoke to three NRIs who returned to India and one US-born Indian-origin person who came here in the belief that the country has good growth opportunities. Read on to know what they had to say
BUSINESS
HDFC Bank eyes need-based product sales for new customers, post merger with HDFC
The bank’s private banking head says the core philosophy is all offerings on the wealth management platform have to be aligned with the customer's expectations
BUSINESS
What triggers your bank to shrink your credit card limit?
Stretching the card limit, missing payments, and inactive cards are among the few reasons your bank may decide to cut your credit card limit.
BUSINESS
3 RBI announcements that will turbocharge UPI, UPI Lite
Conversational Payments on UPI, raising UPI Lite payment limit and offline transactions through UP Lite have the potential to usher in the next era of the digital payments in India
BUSINESS
FD rates for Senior Citizens: Banks that offer up to 9.1% interest on 3-year deposits
Senior citizens should invest a part of their savings in fixed deposits which offer liquidity and ensure interest income periodically.
