The National Payments Corporation of India, which runs the real-time payments system Unified Payments Interface (UPI), launched the RuPay credit card programme in 2017
The growth of digital payments, internet services, and e-commerce has boosted the credit card industry, but EMIs for large purchases often lead young users to default
Credit card spend continues to see high growth despite risk weighting increase
Feature involves sending an immediate alert to the account holder before allowing any unusual or suspicious transaction initiated through their bank account
Last year the government had announced that credit card spends in a foreign currency will be a part of LSR's annual limit of $2,50,000
Strengthens top management with ex HDFC, Citi, Axis bankers
Use less than 30% of card limit; avoid frequent loan applications
The no-cost EMI offers allow consumers to buy different products in instalments without paying additional interest or charges. This implies that you will be paying only the actual price of the product
Your CIBIL score plays a key role when you go for loan requests as it will help you get loans at easy interest rates and along with other benefits. Here are the six tips to improve your credit score
A loan against mutual funds significantly reduces the short-term borrowing (less than one year) cost
Although the retail segment played a critical role in bank credit recovery process, the concentration of banks' loan portfolios in unsecured lending can have serious financial implications
The co-branded card offers a slew of benefits ranging from a free night award valued at up to 15000 points which can be redeemed at Marriott Bonvoy's participating hotels globally
Interest on loans exempt from IGST but provision is not available to credit card services, says government notification
Credit card non-performing assets rose 0.66 per cent to 2.94 per cent as of March 2023, a credit information company said in a report on Thursday. The report, which comes amid heightened concerns on the riskier unsecured loans portfolios from the regulator, also said that such products like credit cards and personal loans grew the fastest, the report by Transunion Cibil said. On the asset quality front, credit card balances unpaid for over 90 days stood at 2.94 per cent, which is a 0.66 per cent jump over the year-ago period, while the same for personal loans improved by 0.04 per cent to 0.94 per cent, it added. From a loan growth perspective, outstanding balances on credit cards grew 34 per cent in the year to March 2023, and personal loans were up 29 per cent. Loan against property, a product typically used by small businesses for funding needs, was the fastest-growing retail product with a 38 per cent rise, according to the report. Interestingly, home loans considered by many
The Reserve Bank of India (RBI) has expressed its concern about the growing unsecured bank credit
The scheme started in August 2021 to provide support to youths who lost their livelihood owing to the pandemic
In a Q&A, R Subramaniakumar dwells on the lender's strategy to fuel growth in credit cards and microfinance, and plans to mop up deposits in an increasingly difficult market
There could also be a third scenario where the interest cost is added to the product price and then the higher price is converted into EMIs
Spends have topped Rs 1 trillion level for five consecutive months now
BNPL, small-ticket consumer loans are other options to build credit history