The FinTech Hub
Source: Live Mint Transferring money from India to a foreign account can be cumbersome. Additionally, if the payment exceeds ₹7 lakh, tax collected at source (TCS) would be deducted, which could be claimed later. Ram felt that the whole process was too complicated for his retired parents to handle. Fortunately, a solution came from a…
Source: Live Mint New Delhi, Jan 19 (PTI) Rupee is expected to appreciate a bit and stabilise around 85-86 a dollar in the coming weeks with RBI’s continued focus on stability of the domestic currency, Deloitte economist Rumki Majumdar said. She said that the rupee may not now see the level of 83 despite RBI’s…
Source: Live Mint Did you borrow money from a bank but now realise that you got a rough deal from it? You have realised that there are too many hidden costs or the rate of interest was raised unreasonably soon after? Or is there something else, which the bank has done that violates the line of…
Source: Live Mint The Reserve Bank of India (RBI) recently released a set of Frequently Asked Questions (FAQs) regarding a circular on resetting floating interest rates on Equated Monthly Instalment (EMI)-based personal loans. One of the highlights of the circular is that banks must give borrowers the option to switch the interest rate from floating…
Source: Live Mint The recent market correction has meant a reduction in the price-earnings premium of India over other emerging markets from around 20% levels to ~13-14%. The near- term trend of greater investor flows towards developed markets will keep the India premium in check, believes Suresh Soni, CEO, Baroda BNP Paribas MF. This notwithstanding…
Source: Live Mint Mutual fund vs PPF: Imagine that you have two options to invest your hard-earned money. Option A offers a 7.1 per cent return, while option B offers an average return of 12 per cent in the long term. What would you choose? Option B, right? After all, the difference of about 5…
Source: Live Mint Manappuram Finance Ltd stock rose 5.5% in early trade on Thursday after the Reserve Bank of India (RBI) lifted restrictions on its microfinance arm, Asirvad Micro Finance Ltd (AMFL), with immediate effect. However, the excitement fizzled out with the stock trading flat at ₹180. Removal of this ban is positive, but the…
Source: Live Mint There are numerous ways to improve your credit score. Some of the basic ways entail maintaining a healthy credit lifestyle by paying your credit card bills on time, keeping credit card utilisation below 30 percent and limiting your hard credit inquiries. It is noteworthy to mention that credit rating agencies, as per…
Source: Live Mint HDFC Bank has cut its marginal cost of funds-based lending rate on select tenures by upto 5 basis points. After the change, MCLR will now range between 9.15 percent and 9.45 percent. The new rates will come into force from Jan 7, 2025 onwards. What is MCLR? MCLR refers to the marginal…
Source: Live Mint According to the Reserve Bank of India’s June 2024 Financial Stability Report, this rise is fuelled more by an increase in the number of borrowers than by larger loan sizes, highlighting how many households are struggling to balance their budgets or build adequate savings. Read this | Buy now, pay how? Inside…
