The FinTech Hub
Source: Live Mint Credit products like loans and credit cards can play an important role in achieving various life goals and improving the quality of life. However, a good credit score is one of the important criteria for banks to approve any loan or a credit card. In this article, we will understand what kind…
Source: Live Mint SBI Card and Apollo HealthCo, which operates Apollo Pharmacy, have extended their strategic partnership to introduce a health and wellness focused co-branded credit card – Apollo SBI Card SELECT card. This one-of-its-kind premium credit card has been thoughtfully designed to address the evolving needs of today’s health-conscious consumers, offering a compelling blend…
Source: Live Mint PayU has announced that it has received the final authorisation from the Reserve Bank of India (RBI) to operate as an Online Payment Aggregator under the Payment and Settlement Systems Act, 2007, reported NewsVoir. “We are grateful to the RBI for granting us the opportunity to be a responsible contributor to India’s…
Source: Live Mint A 48-year-old private employee in Hyderabad fell victim to a well planned credit card scam recently. He lost ₹1.8 lakhs to the scam after being deceived into revealing his credit card details over a WhatsApp video call, according to a recent report by The Hindu. The scamster impersonated an SBI Credit Card…
Source: Live Mint A growing number of borrowers are facing loan rejections from major banks such as HDFC Bank, SBI, Kotak Bank among others. This is a consequence of subpar credit scores. As lending institutions tighten lending rules and norms, maintaining a very strong credit profile has become crucial for securing personal loans, credit cards…
Source: Live Mint The share of outstanding US consumer debt that’s in delinquency rose in the first quarter to the highest in five years, reflecting an end to the pandemic-era pause on reporting delinquent student loan payments on credit reports, reported Bloomberg. Some 4.3 per cent of debt was delinquent in the first three months…
Source: Live Mint A credit score of less than 600 is considered poor in India. Such a score can significantly impact your financial stability and prosperity. It is a given that low credit scores may lead to loan rejections and complications. Still, there are several other lesser known consequences of low credit scores that can…
Source: Live Mint As credit card usage surges across the country, so do the associated risks and pitfalls. Recently it has been witnessed that with the rise in the use of credit cards there has also been an escalation in defaults, particularly among younger users tempted by easy credit and rewards. Here are five risks…
Source: Live Mint Maintaining a healthy credit score remains crucial for borrowers seeking loans, credit cards or favourable interest rates. Now, with the Reserve Bank of India’s recent reforms boosting credit reporting transparency, it is crucial to avoid common pitfalls that can negatively impact your creditworthiness. A credit score is nothing but a numerical representation…
Source: Live Mint We are often advised to build a strong financial foundation, and this foundation relies heavily on comprehensive financial education, which includes understanding saving behaviour, investment habits, and seeking credit at the right time. Yet, we are rarely given clear explanations of what terms like ‘credit’ and ‘debt’ truly mean, making them seem…
