India’s largest public and private sector banks — State Bank of India and ICICI Bank, respectively — have been declared Domestic Systemically Important Banks (D-SIBs). This nomenclature essentially reflects on these two banks’ importance and the role they play in the Indian economy. It also means that if either of these two banks defaults, the […]
If you are planning to buy a car, you might be in a dilemma whether to buy a new car or a used car. Many of your friends and relatives would have advised you to go for an old car as it will cost less than a new car and you will be able to […]
Buying your own car is a dream come true for many individuals be it a compact car, a sedan, a SUV or a MUV. Talking about buying cars, one is inadvertently drawn to the finance aspect because not many of us can afford to pay the entire value of the car out from our own […]
On 19 August, Reserve Bank of India (RBI) gave an initial nod to 11 entities to start payment banks. What are payment banks? Payment banks are basically banks with limited banking functions. They don’t work like a full-fledged bank but provide limited services, such as acceptance of deposits, payments, remittance services and internet banking. They […]
Union Bank of India recently launched one debit card and two credit cards in partnership with Visa. With these cards, Union Bank customers are likely to experience more convenience when accessing digital banking. Let’s see what the cards have in store for the customers: Business debit card for all businessmen with current accounts. The […]
Now banks can enjoy increased flexibility in shifting or closing of urban branches as The Reserve Bank of India has waived regulatory approvals. Shifting the metropolitan, urban or semi urban branches outside the state does not require approval of RBI. However, rural and sole-urban branches, will still require prior permission. It is the duty of […]
Worldline India, a payment processing company, recently conducted a study Worldline India’s Card Payment report 2014–15 on the impact of Jan Dhan scheme on debit and credit cards. The company concluded that with increasing enrollments in Jan Dhan Yojana, the debit card and credit card base in India has grown by 40% and 9.8%, respectively. […]
The prices of the yellow metal touched four-year low at Rs 24,700 in July this year. The gold prices have corrected by about 12% this year from the initial level of Rs 28,000 in January 2015. We Indians are famous worldwide for our insatiable demand for gold. Yearly, we import about 600-650 tonnes of gold. […]
Today, most of us have multiple savings accounts but we are unable to track each one of them due to lack of time or sheer laziness. Unfortunately banks don’t accept such excuses J So, irrespective of the reason, if ignored for two years, your savings or current account can become inoperative. This time period may vary […]
It is every parent’s dream to give the best education to their child and parents spend 30% of the take home salary for this dream. But high inflation in education is giving parents tough time to achieve this goal. A recent survey done by ASSOCHAM Social Development Foundation –“Rising school expenses irks parents” — highlighted […]
