The competition in this arena is expected to further strengthen the infrastructure capabilities of CIBIL, which currently has the first mover advantage and a huge database to its credit, not to mention a huge list of banks and financial institutions as its members. On the other hand the new entrants come with the rich experience [...]
Whenever you use your card, always ensure that the transaction is completed in front of you and that no details are written down by the merchant. Do not provide photocopies of both sides of the credit card to anyone. The card verification value (CVV) which is required for online transactions is printed on the reverse [...]
CIBIL acts as weeding mechanism, that helps identify poor repayment track records. It helps protect lenders from giving credit to people and establishments who are unlikely to repay what is lent. Even if credit is provided, it is done so at a very high rate of interest, thereby ensuring that the bank is able to [...]
Credit card is a powerful credit tool to help you tide over short term financial requirements. However they must be used judiciously, as any misuse of the card can attract stiff charges and make you fall into debt trap, besides destroying your credit rating. So the watch word is - BE [...]
Closer to home, an 18-year-old IIT student posed as a bank executive, got credit card details from customers, and then used the data to book air tickets and buy laptops. He tied up with a travel agent to cancel the tickets and share the returns, while he sold the laptops across the country at a [...]
Once you have identified the fund boxes — Spending forecast, contingency fund for job loss and medical expenses, be dedicated and generate your money flow into these funds consistently. This could be once a quarter but it would be more manageable if it’s once a month.
Never exceeding 40% of your credit limit has a very beneficial effect on your credit score. This shows your credit limit is high but you have not burnt it up and have plenty in reserve. This logic helps you attain a much higher credit score. This is the same logic that [...]
The rapidly evolving banking systems have enabled credit cards emerge from a simple tool for cashless transactions to multiple types with different interest rates, fees and reward programs.
No matter how you find the place you are deciding to rent a personal tour is absolutely crucial, even if it is recommended by your best friend. Visit, visit and visit the apartment. This is because only you know what exactly will make you comfortable in your house, what difficulties you [...]
Try to lower your interest rate. Negotiate with your bank. One other way is to convert your credit card debt into a personal loan debt. It will definitely be lesser than the credit card interest rate. Calculate your net worth and see if any of your investments could help you prepay a [...]
The UCO Bank is expecting to raise Rs 900-950 crore from follow-on-public offer after a rousing comeback in the stock market. The revival of the stock market has encouraged UCO bank authorities to revise estimates of premium for the issue from Rs 50 to over Rs 60 a share.
Kolkata-based UCO Bank has reported a 38.40 per cent rise in net profit to Rs 207.72 crore for the second quarter compared to Rs 150.09 crore in the same period last year.
A top official of Public Sector lender, Central bank of India said in Mumbai that the bank was expecting its home loan segment to grow by 25 per cent in the current fiscal, which would widen the portfolio size to Rs 10,000-crore.
The Development Credit Bank was established in the year 1930. The main promoter of the bank is the Aga Khan Fund for Economic Development (AKFED) which holds over 26% stake in the bank.
Maintain and use your credit card. It serves as an excellent tool to boost a good credit score if utilised properly. However, the trick is to use it well and avoid making late payments. Things like not stretching it too close to your credit limit, regular use of the card but timely payments upfront is [...]
The Catholic Syrian Bank was established on November 26, 1920 at Thrissur, Kerala. The bank commenced business on January 1st, 1921 with an authorised capital of Rs.5 L and a paid up capital of Rs. 4,5270/- . In 1964-65, the Bank took over the liabilities and assets of five small/medium sized banks in Kerala.
The Bank Of Rajasthan Ltd. was established as a joint stock bank by the Mansingka Brothers at Udaipur in Rajasthan on May 8, 1943. The Bank was established with an initial capital of Rs.10L with the Late Seth Shri Govind Ram Seksaria, an eminent Industrialist of the country, as the founder Chairman.
It is important to ask certain questions: Have you chosen the right card? Do you know the interest rate on your credit card? Did you stop to read the fine print? Do you depend on your card and spend the maximum credit limit? Do you buy impulsively and purchase things you don’t really need? Have [...]
It has been brewing for sometime now, credit card spending is on the decline. The recession has tightened the purse strings of individuals who may have temporarily shelved their credit cards. An indication of some such development is evident by the figures discovered during a survey for credit card spends and usage patterns.
Though this move is in the right direction, it will not eliminate frauds completely. One reason is that not many users are aware of the dangers lurking on the Net. This has been evident in the way in which they have given out their personal details online. They don’t take steps to change their passwords [...]
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