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Source: Live Mint In Budget 2025, Finance Minister Nirmala Sitharaman revised the income slabs under the new tax regime, thus offering relief to the middle-class taxpayers. Now, there is no income tax payable for those earning up to ₹12 lakh. However, if you have seen the tax slabs, you must have noticed that there is…
Source: Live Mint You and I and everyone else is chronically online. Kittens and puppy videos are so basic, we share cringe content with our besties. So when Bollywood realises that the cop uniform on every actor is no longer working for anyone, they run Southwards. This time to Tamil cinema to borrow a love…
Source: Live Mint A FICO score is a credit risk measurement tool. It is developed by Fair Isaac Corporation. It is a tool which summarizes an individual’s repayment behavior and it is primarily based on their credit history. It is important to acknowledge that the FICO score is not used extensively in India like the…
Source: Live Mint Personal loans are opted for by those who want funds for diverse needs without the need for collateral. While getting a personal loan, borrowers mostly look for interest rates, EMI payments, and the tenure of the loan to estimate how it would impact their finances. Keeping these points in mind helps the…
Source: Live Mint When used judiciously, credit cards can offer several benefits like instant discounts/cashbacks, up to 50 days interest-free credit period, complimentary airport lounge access, reward points, etc. However, if the monthly bill is not paid by the due date, the cardholder has to pay finance charges and monthly interest of up to 3.75%…
Source: Live Mint India’s central bank, the Reserve Bank of India (RBI), concluded the monetary policy committee on Friday, February 8, and announced a 25-basis-point rate cut to 6.25 per cent for the first time in five years. RBI also lowered its growth forecast for the Indian economy to 6.7 per cent, citing the headwinds…
Source: Live Mint With the Reserve Bank of India (RBI) slashing the repo rate by 25 basis points to 6.25 per cent, interest rates on fresh loans are likely to decline. Notably, today’s repo rate cut was the first in nearly five years. With short-term funding available cheaply to banks, personal loans to retail borrowers…
Source: Live Mint The need for money may arise anytime, forcing individuals to borrow from financial institutions in the form of loans. Every loan has to be repaid in the future, and interest rates are charged as well. In order to deal with multiple financial requirements, borrowers may seek multiple loans with overlapping tenure. However,…
Source: Live Mint History holds significance as it helps understand past events, which aids in making sense of the present, and taking informed decisions for the future. For financial institutions (FIs), such as banks and non-banking financial companies (NBFCs), understanding the history of a customer in terms of how he/she has managed credit in the…
Source: Live Mint As the Reserve Bank of India’s (RBI) monetary policy committee (MPC) cut repo rate by 25 basis points on Friday, it is seen as the start of interest rate cut cycle. Typically, a cut in repo rate is followed by a similar decline in interest levied on loans as well as interest rates offered on…
