While fewer people took out a loan in 2023 (compared to the year prior) to buy a house or for education, more availed of credit in order to meet medical and other exigencies.
By carefully selecting the appropriate loan product and ensuring timely repayment, borrowers can enhance their credit score, opening the door to better deals and lower interest rates.
Businesses are categorised by a unique number called the Merchant Category Code. This determines what rewards you get, or not. When a wrong MCC is configured in the banking system, it could land you in trouble, besides depriving you of your rewards.
Among the banks which have introduced interoperability with UPI on their eRupee app are Axis Bank, Canara Bank, HDFC Bank, Kotak Mahindra, and Yes Bank. However, an ecosystem needs to be built for the retail adoption of the digital Rupee.
Axis Small Cap Fund - Direct (G)
Invesco India Infra. -Direct (G)
Axis Small Cap Fund (G)
Invesco India Infrastructure (G)
BOI AXA M & I Fund - Direct (G)
|S&P BSE Smallcap||38266.53||165.32||0.43|
|S&P BSE Midcap||32672.00||297.07||0.92|
|S&P BSE Capital Goods||47604.04||709.02||1.51|
Marriott Bonvoy and HDFC Bank have launched India’s first co-branded hotel credit card. For those who like staying mainly at Marriott hotels, this card is a good thing. But keep in mind that it also aims to convert travellers into Marriott hotel loyalists.
From the end of deadlines for exchanging Rs 2,000 notes, providing nomination or opt-out for investments in MFs and demat accounts to significant changes to Axis Bank Magnus and Reserve card, there is much happening in the financial arena you need to be aware of.
On August 20, the Bank of Baroda issued a public notice saying Bollywood actor Sunny Deol had unpaid dues on a loan he had taken. The notice was later withdrawn but banks and lending institutions aim to recover their outstanding dues by seizing the defaulter's property and auctioning it as per the SARFAESI Act of 2002
Gold loan lenders are regulated entities and provide written notice of default before initiating legal action against a defaulter. This notice does not intend to convict borrowers or strip their rights, instead offer a specified period to repay the outstanding dues.
Credit card balance transfer method is one of the many ways to reduce your credit card debt. But make sure you have the discipline to pay off your debt in time. But if the debt is too high, a credit counsellor is a better option.
Seven banks, including SBI, PNB, Dhanlaxmi Bank, and DBS Bank India, will be part of the first phase. The portal cannot, however, be used to search for inoperative bank accounts.
Buy-Now-Pay-Later has emerged as a favoured line of credit to millennials with low incomes and no credit history, it has also led to rise in delinquencies and a mess for those who couldn’t manage their EMIs. Lack of regulations also hasn’t helped