BUSINESS
MC Explains: How to withdraw cash from any ATM using your mobile phone
For long, banks have allowed you to withdraw money from other banks’ ATMs using your debit card. Now, you can do so with just your mobile phone, using the interoperable cardless cash withdrawal facility. Here’s what it means.
BUSINESS
HDFC-HDFC Bank Merger: All you need to know about its impact on home loan customers
Post the merger of HDFC and HDFC bank, borrowers may have several queries regarding their existing or sanctioned home loans. Here are the answers to some of their key concerns.
BUSINESS
HDFC-HDFC Bank merger | All you need to know about the impact on depositors
Post-merger of HDFC-HDFC Bank, depositors would have several queries relating to terms and interest rates of existing deposits with HDFC, renewal of FDs, terms for premature withdrawal, submitting Form 15 G/H, TDS certificates, and more. Here are answers to some possible queries from depositors.
BUSINESS
Now, get Mahila Samman Savings Certificate at your bank
In order to encourage women to save, the Budget 2023 announced a new small savings scheme exclusively for women (and girl children), called MSSC. The scheme’s tenure is two years and was available only in post offices, up until now.
BUSINESS
Four changes in the financial landscape you need to consider this July
From applying for higher pension on your salary to filing income tax returns for FY23 to facing consequences for not linking your PAN with your Aadhaar. Here’s what to watch out for
BUSINESS
Your credit score report: How to ensure accuracy and maintain a healthy credit profile
Errors in your credit report can dent your chances of getting a loan or even a credit card. If you spot errors, make sure you get them rectified at the earliest.
BUSINESS
Making UPI payments via RuPay credit cards: Is it worth it?
RuPay credit cards issued by banks which can be linked to the UPI facility offer benefits across categories, including travel, shopping and fuel. But such convenience comes with the risk of overspending, which can lead to high credit card dues.
BUSINESS
85% of health insurance reimbursement claims are for less than Rs 1 lakh: SecureNow study
Reimbursement requires you to pay first and get the amount reimbursed later by the insurer. For hospitals that are not part of the insurer’s cashless network, reimbursement is the only mode for claim settlement.
BUSINESS
The right way to get the first credit card and build a credit history
You can apply for a credit card from a bank you have your salary account with or opt for a secured credit card. Top tips: purchase consumer electronics on monthly instalments and, most importantly, repay before the due date to build a good credit history.
BUSINESS
Personal Finance: How online shopping got easier even if you forgot your credit or debit card details
CVV-free payments allow customers to experience faster, smoother, and more convenient checkouts for tokenised cards on networks such as Visa, Mastercard, RuPay and Amex
TRENDS
Moneycontrol review: Should Indian students travelling abroad avail of MakeMyTrip’s bundled offering?
MakeMyTrip has partnered with airlines for extra baggage and competitive student fares, apart from banks to provide discounts while booking tickets through credit cards, and also tied up with travel accessory brands for a cheaper deal.
BUSINESS
Axis Bank's one-view feature on mobile app offers access to multiple bank accounts on single platform
Existing customers of Axis Bank have the access to one-view on their mobile application.
BUSINESS
Credit card boom in India: 10 crore cards expected by 2023 end
According to RBI data, in April 2023, India had over 8.6 crore credit cards outstanding, a growth of around 15 percent from 7.5 crore in April 2022.
BUSINESS
MC Explains: Which is the best bank FD in a rising interest-rate scenario?
Investors in bank fixed deposits (FDs) have several common questions, like whether to invest in FD with a small finance bank or a private bank, parameters to evaluate before investing in FDs, whether to invest in your own bank or with some other bank, etc.
BUSINESS
How to earn more interest from your savings bank account
Auto sweep facility allows savings account holders to earn FD-like interest income while retaining the liquidity offered by a saving account. Some banks offer this facility. In June, Kotak Mahindra Bank launched its ActivMoney feature for both its savings and current account holders
BUSINESS
This Father’s Day, show Papa you care: Here are 5 financial gifts for your Dad
On this Father’s Day, consider giving your parent a financial gift. This includes gifting him a preventive healthcare plan, helping him reduce a debt, drawing up a financial plan, and more.
BUSINESS
OYO introduces Stay Now, Pay Later feature for travellers: Should you opt for it?
Stay Now, Pay Later provides customers with a credit limit of up to Rs 5,000. You need to settle the amount after 15 days of stay. One downside is that the credit limit is low for frequent and affluent travellers.
BUSINESS
Bajaj Housing Finance extends home loan tenor to 40 years: Should you opt for a home loan with longer tenor?
Home loan tenor of 40 years brings down the EMIs and increases affordability. But it increases the interest burden significantly.
BUSINESS
Deposits with scheduled commercial banks grew by 10.2% during FY23: RBI database
Deposits grew because of monetary tightening measures by the central bank since May 2022. Senior-citizens contributed about one fifth of total deposits as at end-March 2023. Investors preferred short-term deposits with the maturity period of one year to less than three years’ tenure.
BUSINESS
Kotak Mahindra Bank Myntra credit card offers shoppers a bonanza; But is it worth your time? A Moneycontrol review
Kotak Myntra credit card users get 7.5 percent instant discount on all Myntra transactions, access to Myntra Insider, a Myntra voucher worth Rs 500 on the first transaction and more. But beware of the debt trap you may land yourself in if you overspend.
BUSINESS
American credit card users owe nearly $1 trillion: Here’s how to avoid their mistakes
Do not be tempted to overspend, pay your credit card dues in full before the due date, and do not chase milestone benefits linked with your card. Most of all, learn to live within your means.
BUSINESS
e-RUPI vouchers get a boost from RBI monetary policy
The expansion of e-RUPI vouchers, with the inclusion of non-bank prepaid payment instrument issuers and individual issuance, signifies a major stride towards promoting financial inclusivity and accessibility.
BUSINESS
RBI panel proposes measures to improve customer services at banks
The committee had come across several cases of hardship faced by nominees / legal heirs while closing the accounts held by deceased deposit holders of banks. So, the BP Kanungo committee has recommended hassle-free settlement of claims in accounts of the deceased account holders.
BUSINESS
RBI MPC Meeting: Soon, banks to issue Rupay prepaid forex cards
RuPay Prepaid Forex cards can be used at ATMs, PoS machines, and online merchants overseas. This development brings forth enhanced convenience and efficiency for individuals and businesses engaged in international trade.
