May 27, 2022 04:12 PM IST

Muthoot Finance expecting robust gold loan growth, credit card foray this fiscal: MD

The company will also launch three or four more NCD issues this fiscal, each in the Rs 300-400 crore range, George A. Muthoot said.

Moneycontrol Daily: Your Essential 7

A daily round-up of the most interesting articles to help jump-start the day.

Axis Bank plans to scale up credit card business, says slippages under control

The likelihood of non-banking financial companies (NBFCs) entering the credit card market will not lead to an incremental business disruption at Axis Bank, says Sanjeev Moghe, president and head, cards and payments at Axis Bank

Mother’s Day 2022: Financial lessons to learn from your mother

In many ways, mothers lay the foundation for the way we manage our finances as adults. And those lessons are priceless

Mahindra Finance plans credit-card business entry; eyes double-digit business growth in FY23, says MD

The plan comes on the heels of RBI’s directive that NBFCs can offer credit cards if they receive regulatory permission and have a certificate of registration.

TransUnion CIBIL study: More than 160 million Indian consumers are credit underserved

Credit cards and instalment-based credit schemes such as Buy-now, Pay-later are the most commonly used credit products by the underserved consumers

Credit cards are not evil; just understand the maths to use it smartly

Don’t get into hacks like revolving credit card usage, and maintaining multiple cards, to get longer interest-free periods that many influencers promote these days.

RBI's new norms could hurt banks’ outstanding credit cards, margins: Axis Bank Official

Axis Bank issued around 1.1 million credit cards in January-March, taking total card issuances in financial year 2022 to 2.7 million.

Why will RBI’s new rules benefit credit-card customers?

Lounge visits, vouchers, travel insurance: Credit cards that offer goodies for domestic travel

The domestic travel credit cards offer airport or railway lounge access, discounts on travel-related purchases, and rewards or air miles that can be redeemed against flight and hotel bookings

Credit cards a good carrot for NBFCs amid tightening regulation

The change will mean that NBFCs can now earn interest income on their credit cards as the credit would be from their own balance sheet 

RBI's new credit card issuance rules: Three key points explained

RBI's directions on credit cards say that registered NBFCs cannot issue credit cards or similar products without the regulator's approval.

RBI's new rules for credit, debit cards: All you need to know

The RBI (Credit Card and Debit Card - Issuance and Conduct) Directions, 2022 shall apply to all Scheduled Banks (except Payments Banks, State Co-operative Banks, and District Central Cooperative Banks) as well as all Non-Banking Financial Companies (NBFCs) operating in India.

Personal loans or credit cards: Which is better for short-term goals?

Selecting between the two options depends on the repayment ability of the individual, the existing burden of any EMIs and future expenses.

Travelling abroad for summer vacations? These five credit cards charge low forex markup fee

Banks charge foreign exchange markup fee when you are making a payment in a foreign currency. So spend wisely while travelling abroad

Axis Bank-Citibank deal: India’s credit card market is at crossroads. Which way will it go?

Credit card spends have survived the rapid expansion of the Unified Payments Interface, which continues to eat into the payments pie. But with BNPL posing a fresh challenge, issuers face a challenge in widening credit card usage.

'Deal of a lifetime': Axis Bank’s Amitabh Chaudhry cheers Citibank India's portfolio buyout

Apart from improvement in the CASA ratio, net interest margin, and credit card market share, the deal would also give Axis Bank access to the premium set of high spending customers.

Credit cards may have missed the millennial bus

Millennials have overwhelmingly voted with their feet for new payment systems like digital/mobile wallets and mobile-based instant payments 

Exclusive Interview| After RBI green light, HDFC Bank will take 2-3 quarters to regain credit card market share, says Parag Rao

HDFC Bank’s group head of payments Parag Rao is optimistic about the recovery in the credit card business after the RBI lifted the ban on the bank.

With digital woes behind it, HDFC Bank now needs a friendlier world

Analysts have kept the faith and most still highlight HDFC Bank's comparatively pristine asset quality as a key strong point

Five co-branded credit cards that offer great cashbacks and rewards. Do you have any?

Co-branded credit cards are useful for individuals who make frequent transactions with partner brands, as they can get extra cashback, accelerated reward points or discounts

Rise in complaints related to e-banking, credit cards in FY21: MoS Finance Bhagwat Karad

During the period from 2019-20 to 2020-21, there was a decline of 13.01 per cent in complaints related to ATM/debit cards, while there was an increase of 12.01 percent and 52.99 percent in complaints regarding mobile/electronic banking and credit cards respectively, MoS for Finance Bhagwat Karad said in a written reply in the Lok Sabha.

These five all-rounder credit cards offer great deals across multiple categories

Benefits are available for shopping, dining and traveling, among other activities. Annual charges are between Rs 499 and Rs 4,999

Digital payments explained | How your money travels from one bank to another

When you swipe your card at the local kirana or make an online card transaction, you may have wondered if the cost of the product or service contains additional charges because of the chain of players involved in the payment process. Does the bank, or the card company, or the payment gateway earn from these transactions? Do you pay these costs directly or do merchants take a cut from their earnings on each transaction? How do payments get executed? A lot of pieces come together like clockwork to ensure that your money securely travels from your bank to another. We explain where all your money makes pit stops and how payments players earn en route.

Credit cards: a ticking time bomb or storm in a teacup?

The Reserve Bank of India’s (RBI) financial stability report (FSR) shows that public sector banks saw delinquencies in their credit card portfolio surge to double digits by March 2021.