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
BUSINESS
CARE Ratings report on uptick in retail loans: What you must do to avoid a debt trap
Even though loans are cheap and easily available, your EMIs should not exceed 40 percent of your take-home pay
BUSINESS
Axis Bank waives penalty on premature withdrawal from FDs: Here are the details
Bank of India has already waived such charges on early withdrawals and Kotak Mahindra Bank do not charge premature withdrawal for all FDs with original tenor up to 180 days
BUSINESS
How reverse mortgage helps senior citizens increase their monthly income
The maximum amount most banks offer is Rs 1 crore, even if your property is worth much more
BUSINESS
We want to position our credit cards as the most rewarding in India for the consumers: Yes Bank
At present, spends using credit cards are almost back to February 2020 levels
BUSINESS
Digital lenders association tightens code of conduct for loan recoveries: What borrowers must be aware of
The digital lenders’ association claims it is working closely with the payment partners to identify unethical recovery activities
BUSINESS
How many credit cards should you have?
You can own more than one credit card, depending on your needs. But make sure you pay your dues on time
BUSINESS
Do not just go by high interest while shifting banks; look at new bank’s services: RBL Bank
The bank you are choosing should be able to offer the entire bouquet of financial products you may require over a period
BUSINESS
RBI’s warning to coercive digital lending apps: What borrowers must be aware of
While applying for a loan, you must verify the background of the lending company
BUSINESS
CRIF report on the rise in personal loan borrowings: How to avoid a debt trap
Personal loans are expensive. If you fail to pay even a single EMI on time, your credit score gets impacted
BUSINESS
SBI report on rising online credit card usage: How to avoid a debt trap
A recent report from State Bank of India suggests a massive rise in online credit card usage. If used carelessly, credit cards can wreck your finances
BUSINESS
Bank mergers: Here are the procedural changes customers must be aware of
With a host of bank mergers, customers will have to be prepared for new processes and systems
