The recent increase in unauthorized transactions in banking has led the Reserve Bank of India to release draft guidelines for customer liability in case of fraudulent transactions. According to the draft norms, the bank customer shall not be liable to pay for any fraud transactions made through his account due to third party breach or […]
HDFC Bank is going to launch a co-branded card – Times Point Debit Card – in partnership with Times Internet, a part of Bennett, Coleman and Co. This card has the Concept of Times points, an online loyalty product with a customer base of over 18 million users. The range of services include: earning points […]
Qatar-based Doha Bank is planning to open a branch in Kochi with cutting-edge facilities. This will be the only Indian branch of the Gulf Cooperation Council (GCC)-based bank. The bank will be located inside LULU International Shopping Mall, Edappally. It will be inaugurated by Pinarayi Vijayan, chief minister of Kerala, on 27 August 2016. […]
Federal Bank, in collaboration with MMTC (Metals and Minerals Trading Corporation), will distribute Indian Gold Coins (IGC), under the first-ever National Gold offering scheme launched by the Narendra Modi government in November 2015. This Kerala-based private sector lender will become one of the first private sector banks to offer such a product to its […]
Although India is largely an under-banked country, many in urban and semi-urban India have more than one savings account. While a sizeable portion of these accounts are inherited from previous employments, people also open additional savings account in search of better features or customer service. Just like any other banking and financial product, […]
The Delhi government recently launched the Higher Education and Skill Development Guarantee Scheme as part of its 70 Action Points framework. This scheme’s objective is to provide financial support to meritorious students through the banking system. As part of the scheme, students will not have to pledge any collateral or provide margin money, unlike one […]
It is very common to find people with multiple credit cards. And why not? Every day we are bombarded with mailers, messages and phone calls from credit card issuers citing various benefits of using their credit cards. However, there is a contrarian viewpoint that too many credit cards mean too many options to borrow money, […]
Many people desist from increasing their credit card limit fearing that they will end up spending beyond their means. However, increased credit card limit can have many upsides, provided you know how to manage your credit wisely. Let's look at some of the benefits of increasing your credit card limit: Reduces credit utilisation ratio: Credit utilisation […]
I am a 23-year-old moving to Mumbai for my first job. Since my starting salary isn’t very substantial, it has got me wondering about my financial situation. And, as I don’t want to borrow money from my parents, I am looking for an option that can serve as backup during emergencies and even support with […]
State Bank of India has been advised by the global management consultancy McKinsey to shut down or relocate 30% of its branches. SBI plans to follow this advice and consolidate 24,000 of its branches so as to remain competitive. The Managing Director of SBI confirmed that the bank had hired McKinsey for branch and ATM […]
