BUSINESS
RBI’s push for digital payments: Soon your mobile wallet will double up as your bank account
The RBI has allowed NEFT and RTGS transactions via mobile wallets and made them interoperable.
BUSINESS
Why 'holiday now pay later' schemes may be loan traps
‘Holiday now, pay later’ scheme introduced by SOTC-Thomas Cook may sound convenient. But, if you default to pay instalments your credit score will take a hit
BUSINESS
Auto-debit of credit card: RBI extends timeline and an alternative option to it
RBI has decided to extend the timeline for additional factor authentication on recurring payments using the cards till September 30, 2021. The alternative options to auto-debit on card are transacting through BillDesk or Bharat Bill Payment System.
BUSINESS
Your money calendar for 2021-22: Keep your dates with investments, taxes and money box
Moneycontrol’s annual money calendar lets you keep your dates with investments, income-tax filing, paying your insurance premiums on time and reminds you to go on a holiday, once in a while
BUSINESS
Junio money app: A children’s savings bank account is a better way to monitor how your kid spends
The Junio app comes with a charge card backed by RBL Bank and Mastercard. A bank account can help you teach your kid a lot more about savings and financial products.
BUSINESS
Money lessons to learn from one year since COVID lockdown
The importance of having a health insurance cover and an emergency fund has been realised. Switching lenders to reduce EMIs is another key lesson
BUSINESS
Home loan interest rates unlikely to fall any further: Godrej Housing Finance
Manish Shah, MD & CEO, says that the more credit worthy a customer, the lower will be the home loan interest rate offered
BUSINESS
Explained: All about the UPI-Help feature to raise payment complaints online
SBI, HDFC Bank, ICICI Bank and Axis Bank have enabled the UPI-Help feature for their customers
BUSINESS
Vehicle scrappage policy: Leasing is a cheaper option than buying a car on loan now
Cars that are over eight years old would have to go for a fitness test. A green tax of 10-25 percent would be charged every time you renew the fitness certificate. Maintaining a car would more expensive now
BUSINESS
How women can make the most of lower rates on home loans and stamp duties
Even a small concession on home loan interest rates will add up to a huge sum over a 15-20-year period. Registering a property in the name of a woman will help in saving significantly on stamp duties.
BUSINESS
Explained: How to reactivate your dormant MobiKwik, Paytm and Freecharge mobile wallets
An e-wallet is considered inactive if there are no transactions made through it for a year. Some firms may levy maintenance charges in inactive accounts
BUSINESS
We acted swiftly to pull down illegal Chinese digital lending apps: Fintech association
The Fintech Association for Consumer Empowerment (FACE) is working hard to usher in fair and transparent digital lending practices, says founding member Akshay Mehrotra. He lists the steps taken by the FACE to gain consumer confidence and checking unfair loan recovery methods
BUSINESS
Explained: All about the home loan provisional certificate
The document is required for claiming tax deductions. You can apply for the certificate online and offline.
BUSINESS
How ECS bounce charges snatched the loan moratorium relief
Each time the electronic clearance service request for loan EMI payment bounced, charges were levied by banks on customers
BUSINESS
Complaints on banking services rose 65% in 2019-20: Here are a few lessons for customers
Lack of clarity on RBI’s loan moratorium scheme and issues in digital transactions were key sources of complaints
BUSINESS
Education loans: How to choose from banks, NBFCs and fintechs
While interest rate is the primary deciding factor, borrowers should also consider the margin amount, repayment tenure and the moratorium period
BUSINESS
How the CTS system will help in faster and efficient cheque processing
All bank branches in India would put in place the cheque truncation system by September 2021
BUSINESS
Budget 2021: Will PMC Bank, others be able to get depositor’s insurance cover now?
Finance minister Nirmala Sitharaman announced that deposits in banks that went into liquidation can also now access the depositors’ insurance cover. Experts predict this proposal would be applicable retrospectively.
BUSINESS
Have a complaint against bank or NBFC or digital wallet? RBI to soon roll out a unified ombudsman
An ombudsman is authorioty to approach to, if your complaint isn’t satisfactorily resolved by the bank, NBFC or digital wallet
BUSINESS
Budget 2021: Withdrawing deposits from stressed banks to get simpler
Depositors will be able to get immediate access to their deposits up to Rs 5 lakh under the deposit insurance scheme
BUSINESS
IDFC First Bank’s low interest credit card: Nothing attractive for a prudent user
IDFC First Bank introduces credit cards with annual interest rates as low as 9 percent. But not all customers will enjoy this rate
BUSINESS
Bitcoin part 2: Should you invest in this cryptocurrency?
Invented mostly for fun, cryptocurrencies have gained popularity as an alternative currency first, and then as an investment. But they are unregulated and volatile
BUSINESS
Bitcoin part 1: Here’s how the cryptocurrency works
The Bitcoin is back. People world over have been wanting a piece of Bitcoin. Moneycontrol’s special two-part series explains how it works and why Central Banks are worried about it
BUSINESS
All about what you should do with travel credit cards now
If you don’t wish to travel despite getting vaccinated, then you might want to switch to another credit card
