Tag: banks

DICGC to settle claims if bank under moratorium

Bringing relief to depositors of stressed banks placed under a moratorium, the Union cabinet on 28 July cleared amendments to the Deposit Insurance Credit Guarantee...

Claiming TDS credit will be difficult if bank doesn’t have PAN data

Have you submitted your permanent account number (PAN) to your bank? If not, the bank can deduct TDS (tax deducted at source) at a higher...

‘Any derating in PE can undo earnings growth’

Anoop Bhaskar, head of equities at IDFC Mutual Fund, expects robust growth in corporate profits as nominal GDP accelerates and continued strength in cyclical stocks...

Different types of payment cards you must know about

NEW DELHI: In India, there are broadly four types of cards through which you can make payments — debit cards, credit cards, prepaid cards, and...

How do banks determine a good credit score?

Usually, 750 is considered a “good” credit score. But it’s still not a guarantee that lenders and credit card issuers will not reject your application....

Here is how you can manage multiple credit cards efficiently

Fear of overspending and falling into a debt trap may be keeping you from applying for an additional credit card. However, having multiple credit cards...

Should you prepay your home loan or invest surplus cash?

When the equity markets are performing well, and interest rates are low, many borrowers wonder whether they should invest surplus money or prepay their home...

Vodafone Idea lenders dial Finmin, want relief for telco

A consortium of lenders to (Vi) has sought the finance ministry’s intervention to provide some relief to the cash-strapped operator, raising concerns over the telco’s...

Banks can deduct higher TDS for these customers

From 1 July, new rules for tax deduction at source (TDS) under Section 206AB have come in effect. Under this new section of the Income...

Govt mulling measures to bolster governance & HR practices in public sector banks

The government is considering measures to further strengthen corporate governance and human resource practices in nationalised banks through a diversified board structure, strengthening of board-level...

Gold loans with overdraft facility work just like a credit card

NEW DELHI: Gold loans with overdraft are typical “use-as-you-need” credit facilities. When you pledge gold, the lender will put money in your bank account. But...

Stock market bubble: Will RBI warning of a bubble in stocks require followup action?

US Department of Justice has opened a probe into the $20 billion implosion of the family fund Archegos Capital Management that led to more than...

Cryptocurrency exchanges to approach Supreme Court on RBI diktat

Cryptocurrency exchanges are set to approach the Supreme Court to seek direction on whether the Reserve Bank of India (RBI) can direct banks to stop...

How to reactivate dormant bank account

NEW DELHI: A bank account can turn dormant if not used for two years. When an account turns dormant, the depositor cannot avail of the...

Why you can’t get 6-7% interest rate on your savings account

Some banks offer interest rates on savings accounts that can be as high as 6-7.25%. But there’s a catch. One, you will need to keep...

Improving credit quality is a good sign for investors

Usually, when the economy is going through stress, like in FY21 with a de-growth of approximately 8%, corporates are also under stress, leading to rating...

View: In Mutual Funds, interesting times

One of the largest impacts of Covid-19 has been the crippling impact on retail investor sentiments. A sector that is the lifeblood of every large...

10 things borrowers should know about co-lending model between banks and NBFCs

Recently, Indiabulls Housing Finance Ltd entered into a strategic co-lending partnership with HDFC Ltd to offer housing loans to homebuyers at competitive rates. According to...

Does deposit insurance pay you directly for bank failure?

MUMBAI: Today, all commercial banks including branches of foreign banks functioning in India, local area banks and regional rural banks are insured by the Deposit...

Year-end pressure hits fund transfers via IMPS, UPI in millions

Several customers could not transfer funds instantly in the first two days of the new financial year as the core banking systems at some banks...

What privileges do banks offer to millionaire customers?

NEW DELHI: Banks classify customers into different categories based on their income and assets with the bank. This helps th provide targeted services. Individuals with...

Whatever banks are reporting does not present the full picture: Saswata Guha, Fitch Ratings

We are pretty mindful of the fact that a fair degree of underwriting has been done by banks over the last three to four years...

Bank Nifty: Bank Nifty may witness more downward pressure this week

All the data points indicate that it is going to be a tough market for the next week or so and possibility that the index...

Banco Santander will deny loans to coal-related companies from 2030

As part of its strategy towards sustainability, Spanish bank Santander will stop providing financial services to companies that depend on thermal coal. Grow Your Business,...

Banks parked Rs 2 trillion excess cash amid RBI signalling

MUMBAI: The Reserve Bank of India (RBI) Friday signalled its intent to haul slumping overnight rates closer to the relevant benchmark when it accepted Rs....