UCO Bank Cuts Lending Rates UCO Bank, a government-owned bank, has reduced its marginal cost of funds-based lending rate (MCLR) by 10 basis points across all loan durations, starting from June 10, 2025. This reduction means that loans linked to MCLR, like home and personal loans, could become cheaper for borrowers. Updated MCLR Rates UCO … Read more
On June 6, the RBI announced a 50 basis points cut in the repo rate during its monetary policy review. This cut was bigger than expected, as many had predicted only a 25 basis points reduction. This move is good news for home loan borrowers, both new and existing, as they will benefit from lower … Read more
Banks usually check a customer’s CIBIL score but don’t inform the customer about it. However, under the latest RBI rules, if a bank, NBFC, or credit information company checks your CIBIL report, they must now inform you via email or SMS. If your loan or request is rejected, the bank or NBFC must clearly explain … Read more
Starting July 1, major private banks like HDFC Bank and ICICI Bank will increase fees on credit cards and other banking services. HDFC Bank notified its customers about new charges, especially on credit card spending related to online gaming, digital wallets, and utility payments. If a customer spends over Rs 10,000 in a month on … Read more
This news can bring relief to common people. The RBI, which has been easing its monetary policies to support economic growth, is likely to reduce the repo rate by 0.50 percent from June till Diwali. According to reports, the RBI’s next review meeting is scheduled between June 4 and 6. In this meeting, the Monetary … Read more
Kotak Mahindra Bank has introduced significant changes to its credit card fee structure, effective from June 1, 2025. These updates include charges on auto-debit failures, dynamic currency conversion (DCC), utility bill payments, education fees, wallet loading, online gaming, and fuel transactions. Additionally, the calculation method for the Minimum Amount Due (MAD) has been revised. Charges … Read more
The Reserve Bank of India (RBI) is planning to tighten the rules for personal loans that are given without any security, such as credit cards and unsecured personal loans. The risk of people not repaying these loans is increasing, which has raised concerns for the RBI. In November 2023, the RBI had already raised the … Read more
Banks will be closed for three consecutive days in many states of India. Amid the current situation where tensions have risen between India and Pakistan, people are wondering whether banks will stay closed or operate normally. In most states, banks will not function for three days. Here’s the full reason. Banks to Remain Closed for … Read more
The Reserve Bank of India (RBI) has issued the bank holiday schedule for May 2025. As per the RBI calendar, there will be a total of 13 bank holidays in May. These include both national holidays and regional government holidays. Bank holidays in India are decided according to the guidelines set by the Reserve Bank … Read more
The Reserve Bank of India (RBI) reduced the repo rate by 0.25% (25 basis points) on 9 April 2025. This is part of a total 0.50% cut since February 2025. This change is affecting fixed deposit (FD) interest rates, with most banks lowering their FD rates. This has surprised many low-risk investors, especially senior citizens, … Read more
The Reserve Bank of India (RBI) has taken action against several banks for not following its rules. After earlier penalizing banks like SBI, HDFC Bank, and ICICI Bank, RBI has now fined Kotak Mahindra Bank, IDFC First Bank, and Punjab National Bank (PNB) due to certain rule violations. RBI made it clear that these penalties … Read more