According to the latest RBI data, in February 2024, the total number of credit cards issued by banks in India crossed the 100 million milestone, registering an increase of 1.1 million cards from the previous month. While this highlights the increasing popularity of credit cards, it also suggests a potential uptick in credit card fraud … Read more
With fewer than 48 hours to go before the financial year draws its curtains, investors are rushing to invest into a plethora of investment options in order to save their income tax for fiscal 2023-24. There is no denying the fact that most investment options, particularly the ones in equity have already become unfeasible from … Read more
While investors with a high-risk appetite are savouring the high returns of 30 per cent given by Nifty50 in the fiscal year 2024, there are millions of conservative investors who remain content with their considerable exposure to fixed-income instruments. Additionally, some aggressive investors allocate a portion of their portfolio to debt instruments to keep a … Read more
The capital markets regulator Securities and Exchange Board of India (Sebi) has imposed a penalty on Nirmala Devi (name changed) and her son Vijay (name changed) for front-running activities. The case pertains to the trading activities from July 1, 2021, to June 30, 2022. Who is Nirmala Devi and what does this issue entail? A … Read more
If you want to crunch some numbers, the total assets under management of the Indian mutual fund industry stood at ₹54,54,214 crore. Over 8.2 crore SIP accounts are being held by retail investors through which they invest regularly in various Indian mutual fund schemes offered by Asset Management Companies (29th February 2024). Also Read: Your … Read more
These unions emphasize member service and financial well-being, whereas banks focus on maximizing profits for shareholders. Credit unions often provide lower interest rates on loans, reduced fees, and a more customized banking experience. Credit unions can frequently be a compelling choice for personal loans for several reasons: Possibly lower interest rates: As non-profit organizations, credit … Read more
Holi, the festival of colours, is not just a time for fun and merry-making but also offers valuable financial lessons that can be applied in our everyday lives. As we celebrate Holi, let’s take a closer look at some of the financial lessons we can learn from this vibrant festival. Budgeting and planning ahead Just … Read more
CIBIL score is an important factor that banks consider when evaluating applications for business loans. While there is not a fixed threshold of CIBIL score requirement which is applicable universally to all banks, a higher CIBIL score usually raises the likelihood of loan approval and favourable terms. Here are the general rules: Excellent credit score (750 and … Read more
Dragon Warrior Po is the hero of the Valley of Peace, signing autographs and opening noodle shops for his two dads. The Furious Five Kung Fu masters – Master Tigress, Master Viper, Master Monkey, Master Mantis and Master Crane – are out on other assignments. Master Shifu has asked the Dragon Warrior Po to find … Read more
When a borrower co-signs a loan, it can have both positive and negative effects. This can have both positive and negative effects on your credit score, based on how the borrower manages the loan. For instance, 51-year Ajay Aggarwal decided to co-sign a loan for his son who wants to take a student loan. This may also … Read more