The Reserve Bank of India (RBI) and banks have introduced several reforms to make the banking system more borrower-friendly and transparent. These changes aim to simplify loan processes, reduce financial stress on families, and ensure fair practices in the banking sector. Loan Repayment from Insurance Policy One of the significant reforms ensures that families are … Read more
Bank of Baroda (BOB) has reduced the interest rates on bulk fixed deposits (FDs) ranging from Rs 3 crore to Rs 10 crore. This change affects new investments from January 1, 2025, and will not apply to existing FDs. Customers can check the updated rates by visiting the bank’s website or a branch. However, this … Read more
The Reserve Bank of India (RBI) has introduced a new system to avoid mistakes and fraud in online money transfers. Starting from April 1, 2025, customers will be able to check the name of the bank account they are sending money to, when using RTGS (Real-Time Gross Settlement) and NEFT (National Electronic Fund Transfer). Facility … Read more
IDBI Bank has made changes to its Fixed Deposit (FD) schemes, introducing new FD periods and offering higher interest rates. They have also extended the investment deadline for special FDs, giving investors more time to invest. New 555-Day Utsav Callable FD From December 23, 2024, IDBI Bank has launched a new Utsav FD scheme with … Read more
ICICI Prudential Mutual Fund has introduced the Rural Opportunities Fund, an open-ended equity scheme focused on rural and related sectors. The fund aims to invest primarily in industries that support the growth and development of rural India. By targeting companies involved in these sectors, the scheme seeks to build long-term wealth. The New Fund Offer … Read more
If you use an Axis Bank credit card, this news is crucial for you. Effective from today, December 20, 2024, Axis Bank has introduced significant changes to its credit card terms and conditions. These updates affect various services, including finance charges, cash payment fees, currency conversion markup, fuel and utility transactions, and more. Here’s what … Read more
Credit card customers in India now face the possibility of higher late fees. On December 20, 2024, the Supreme Court stayed a 2008 decision made by the National Consumer Disputes Redressal Commission (NCDRC). As a result, customers who fail to pay their full credit card bills on time will have to pay higher late fees. … Read more
AU Small Finance Bank (AU SFB), the largest small finance bank in India, has launched a new premium banking program called AU Eternity. This program is designed to meet the financial needs of India’s growing affluent class. It has been created in partnership with Mastercard to offer exclusive convenience and customized solutions to high-income individuals. … Read more
The Reserve Bank of India (RBI) has introduced new rules to make the credit score process easier and fairer. These changes will help solve complaints related to credit scores and improve the overall system. The goal is to make it simpler for people to understand and maintain their credit scores, which are important for loan … Read more
ICICI Bank has announced that it will have scheduled maintenance from 11:55 pm on December 14, 2024, to 06:00 am IST on December 15, 2024. During this time, all incoming and outgoing RTGS (Real-Time Gross Settlement) transactions will be delayed. The bank has sent this information through an e-mail alert to its customers. What is … Read more
Imagine receiving a message that your bank has reduced your credit card limit. Naturally, your first question would be, “Why did the bank do this?” Many people experience this, and banks usually reduce credit card limits for specific reasons. In some cases, the customer’s behavior is a factor, while in others, the customer may not … Read more