BUSINESS
RBI’s UDGAM Portal: How to track unclaimed deposits on the platform
RBI’s UDGAM portal launched last year helps individuals access their unclaimed bank deposits. As long as you have details such as account holder's name, bank name, unclaimed deposit reference number and location, you can track your deposits. However, these deposits can only be claimed through respective banks.
BUSINESS
Banking for NRIs: How to manage your accounts while relocating abroad
Before relocating abroad, consider consolidating your Indian bank accounts to simplify financial management. Ensure your account is compatible with your investment platforms to facilitate efficient and uninterrupted stock or mutual fund transactions.
BUSINESS
Financial changes in November: SEBI’s insider trading norms, RBI’s new NBFC-P2P rules and ICICI Bank’s credit card revisions
November has several rules coming into force — SEBI has broadened the scope of insider trading norms and RBI has tightened regulations on escrow accounts for NBFC-P2P lending platforms, among others.
BUSINESS
Union Bank, Bank of Maharashtra among lenders that offer cheapest home loans
Home Loan Festive Offers: Diwali sparks new beginnings, and several banks are offering attractive home loan deals. Top 15 banks are offering interest rates ranging between 8.35% and 8.7% for a Rs 75-lakh loan for a 20-year tenure.
BUSINESS
Dhanteras 2024: Looking to buy gold coins? Here are smarter ways to invest
Buying gold coins from banks may not be a prudent decision because of inflated prices. The RBI rule stipulates that banks cannot buy back gold coins purchased from them. Instead, investors can consider buying alternative gold instruments such as gold ETFs, digital gold and sovereign gold bonds, investment advisors say.
BUSINESS
Wedding & Money: How to plan your honeymoon with a budget of Rs 1 lakh
Honeymoon packages under Rs 1 lakh: Budget constraints need not be a hurdle in the path to your dream honeymoon if you put a meticulous spending plan in place and adhere to it. Some tour operators are also promoting their honeymoon destination packages, but do watch out for the hidden costs before you sign up.
BUSINESS
Diwali Shopping Hacks: Save big, Spend smart
Diwali Shopping Tips: Rather than simply loosening the purse strings this festival, create a budget and prioritise essentials. Use cashbacks, compare prices across websites and leverage bank offers for exclusive discounts. And those buy now, pay later and no-cost EMI schemes could mean the road to debt.
BUSINESS
Funds locked post RBI’s new P2P lending rules, Lendbox investors seek recourse
Peer to Peer Lending: Lendbox's flexible withdrawal option was discontinued after RBI’s revised guidelines came into effect from August 16. Co-founder Bhuvan Rustagi sought to reassure investors, saying their funds were safe and merely subject to a changed withdrawal dynamic.
BUSINESS
Gadget Gluttons: Gen Z, millennials gobble up smartphones funded by personal loans
Consumer Durable Loans: The share of loans to fund smartphone and home appliance purchases has shot up from 1 percent in 2020 to 37 percent in 2024.
BUSINESS
Private banks that offer up to 8.05% interest on 3-year fixed deposits for senior citizens
Senior Citizen FD Interest Rates: Experts recommend that conservative senior citizens can secure a stable income stream by investing in FDs for a longer tenure to fetch a higher rate of interest. A delay may lead to a potential decrease in the rate, they warn.
BUSINESS
Can wedding planners help contain costs?
Yes, in some cases. But couples need to keep a close watch on wedding planners’ fee structures. The costs vary as per location, guest count, seasonality, customisation, and a planner’s expertise. Planners’ fees are dynamic. From fixed, percentage-based to hourly consultation rates are on offer.
BUSINESS
American Express Platinum Card revamped: Enhanced benefits, but fees higher too
American Express has introduced new benefits for its premium credit card holders such attractive renewal offers and expanded hotel partnerships, but has rolled back certain other privileges, besides increasing the annual fee to Rs 77,800, including 18% GST.
BUSINESS
Safety and high returns: Here are the banks that offer up to 7.55% interest on 3-year fixed deposits
FD Interest Rates: Experts say that risk-averse investors should lock in high fixed deposit rates now, as they're expected to decline in the coming months.
BUSINESS
ICICI Bank revises credit card perks, doubles minimum spend for lounge access to Rs 75,000
Effective from November 15, ICICI bank has capped rewards on utility, insurance, and grocery transactions, revised fuel surcharge waiver and more.
BUSINESS
ICICI Bank, MakeMyTrip launch co-branded credit card for travel. Should you get one?
This credit card is ideal for frequent MakeMyTrip users, offering versatility and value. Rewards, however, are restricted to MMT bookings and international lounge visits are limited
BUSINESS
RBI monetary policy: UPI 123Pay, UPI Lite limits raised, here's is how it will benefit you
For UPI 123Pay, the per-transaction limit has been raised to Rs 10,000 and UPI Lite users can now conduct up to Rs 1,000 worth of transactions without the PIN
BUSINESS
No change in home loan EMIs as RBI keeps repo rate unchanged for 10th time in a row
Home Loan Interest Rate: Economists expect a repo rate cut from December onwards because of the improving inflation outlook in India and the start of the global monetary easing cycle.
BUSINESS
RBI flags NBFCs’ ‘growth at any cost’ approach: Retail borrowers would do well to heed the message
Governor Shaktikanta Das expressed concerns around lending practices adopted by certain NBFCs, which results in business driving retail credit growth rather than its actual demand. Retail borrowers, too, ought to take note of RBI’s cautionary tone, and avoid availing of easy credit to fund their discretionary purchases this festive season. Adhering to the basics of financial planning can help you enjoy your festive spends sans worries of future EMIs and the interest burden.
BUSINESS
Get the best car loans & drive home some savings
When shopping for a car loan, go beyond brochures and advertisements, and don't rely solely on dealership offers.
BUSINESS
Borrower Blues: Home loan customers may have to wait till December for RBI to lower interest rates
Repo rate cut: Borrowers on repo-linked credit will see the reduced rates reflected in their loans within one-three months of the rate cut, say experts
BUSINESS
Credit score lower due to lender enquiries despite no loan application? Dial credit bureaus, RBI banking ombudsman for help
Credit history enquiries: If a lender has viewed your credit score without your consent, you can file a complaint with the credit information companies to take corrective action. Else, unsolicited checks can affect your credit score, experts warn.
BUSINESS
Gold loan risks: RBI exposes irregularities, borrowers beware
While taking out a gold loan, borrowers need to beware of potential pitfalls. To ensure a secure experience, it's crucial you do proper research, and compare interest rates and charges from various RBI-approved lenders.
BUSINESS
NRE fixed deposit rates: Deutsche Bank, RBL Bank top with up to 8 percent interest rates on two-year tenor
NRIs have multiple options when it comes to banking needs and products. Experts advise parking surplus funds in NRE fixed deposits for the best outcome.
BUSINESS
Wedding loans: Are Gen Zs, millennials risking their financial future in pursuit of social media ‘likes’?
A growing number of younger couples in India are choosing to self-fund their weddings, but nearly 26 percent are using personal loans to cover costs. Destination weddings and personalised experiences are key drivers of this trend. However, financial advisors warn of high interest rates, potential penalties, and impact on credit scores.
