In order to encourage cashless transactions, Reserve Bank of India (RBI) is thinking about offering banks the liberty to decide service charges for transactions. On Friday, Santosh Kumar Gangwar, Minister of State in the Finance Ministry, confirmed the same in Lok Sabha. RBI has already deregulated interest rates on credit cards dues. There are […]
Buying a car nowadays has become more of a necessity than luxury, but if you are a first time buyer, then doing a little research and getting a suitable deal according to your needs can make your car-buying experience more delightful. Your first car will always be special for you, but it’s important to choose […]
The rising cost of education is one of the biggest roadblocks for students today. Especially for students from underprivileged backgrounds, higher education is often beyond their financial means. In order to improve the availability of higher education to less fortunate yet meritorious students, the government has introduced the education loan subsidy scheme. Scheme Objective […]
Subsequent to demonetisation, RBI had implemented a withdrawal limits on all savings and current accounts. Currently, these limits stood at Rs. 24,000 per week for savings accounts and Rs. 1 lakh per week for current accounts. Now the RBI has announced that the Rs.1 lakh per month limit on Current Accounts has been removed with […]
Considering the growing pollution concerns, the move towards hybrid cars is inevitable. Noticing this trend, several car manufacturers are now offering environment-friendly hybrid versions of their popular models. Add to it, the government is also doing it s bit in promoting the use of hybrid cars. For instance, special deals are offered by the government […]
The huge surge in bank deposits due to demonetisation has led to banks reducing lending rates to the lowest in the last 6 to 8 years. Leading the pack, is SBI which has reduced its home loan rates by 50 basis points (bps) to as low as 8.5 per cent (fixed). Even, HDFC, the largest […]
Society for Worldwide Interbank Financial Telecommunication (SWIFT), the globally recognized international fund remittance system, intends to introduce additional security measures through its new Customer Security Framework. This step is being taken in order to improve customer security worldwide on the SWIFT network. SWIFT’s decision comes on the back of increased banking transaction security threats in […]
A good credit score is a valuable asset today. As it reflects good credit behaviour in the past and lower probability of defaults in the future, it prompts the lenders to favorably treat borrowers with good credit score. Borrowers with good credit score receive faster approval of their loan and credit card applications at mostly […]
Ankit Gupta, a software professional, ran out of money in his salary account. When he tried to withdraw from one of his older savings accounts, his withdrawal requests were rejected by one ATM after another. When he contacted the bank’s customer care, he was told that his account had become dormant due to prolonged non-operation. […]
On Monday, Reserve Bank of India (RBI) increased the limit on cash withdrawal from ATMs from Rs. 4,500/day to Rs. 10,000/day per card. However, the weekly withdrawal limit has not been changed and it remains Rs. 24,000/week. The withdrawal limit for current accounts has been also increased from Rs. 50,000 per week to Rs. […]
