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Financial Well-Being Index

The study attempts to highlight the Indian household’s perception of their own financial health and economy (Graphic: Pragati; Survey By: Principal Retirement Advisors) [“source-businesstoday”] Read More »

Besst Loan Buy

RELATED HDFC Bank launches toll-free banking service Chidambaram woos education loan borrowers Are you scouting for a loan to buy a house, a car or for your child’s education? Given below are the best deals on offer from public and private sector lenders.   [“source-businesstoday”] Read More »

Financial Well-Being Index

The study attempts to highlight the Indian household’s perception of their own financial health and economy (Graphic: Pragati; Survey By: Principal Retirement Advisors)           [“source-businesstoday”] Read More »

Axis Bank launches Aadhaar-based eKYC facility for rural banking

(PHOTO: Reuters) Axis Bank has started an eKYC (know your customer) facility for account openings by business correspondents in rural areas, and aims to open 1 lakh such accounts over the next three months to drive its financial inclusion programme. The facility, which uses the Aadhar database, will enable a bank account to be opened within 24 hours as against ... Read More »

Interim Budget 2014: Chidambaram woos education loan borrowers

With the general elections due in a couple of months, Finance Minister P. Chidambaram tried to endear himself to the families that have availed of educational loans from banks. Presenting the Interim Budget for 2014-15 in the Lok Sabha on Monday, Chidambaram announced a moratorium period for all education loans taken up to March 31, 2009, and outstandings as of ... Read More »

HDFC Bank launches toll-free banking service

Private-sector lender HDFC Bank has launched its toll-free banking service which will help customers in carrying out six basic banking transactions just by dialling the numbers. Customers will receive an instant SMS with the information requested including mini statement and balance enquiry on their registered mobile number, said Nitin Chugh, HDFC Bank head (digital banking). Besides, other four services requests ... Read More »

United Bank, Canara Bank revise interest rates

Public sector lenders United Bank of India (UBI) and Canara Bank have revised interest rates. While UBI increased lending rates and cut interest on deposits, Canara Bank raised fixed deposit rates across maturities. UBI increased the base rate, or minimum lending rate, to 10.50 per cent from 10.25 per cent with effect from Thursday, according to a Bombay Stock Exchange ... Read More »

Debit card usage at merchant outlets less than 5 per cent

Transactions through debit cards at merchant outlets are less than five per cent. Customers freely use credit cards, but not debit ones. The range of uses of the debit card has not yet been understood in India. “Debit card usage has mostly been confined to withdrawing money from ATMs,” says Uttam Nayak , Country Head (India & South Asia), VISA. ... Read More »

ATMs soon to fork out cash without bank account too

People without a bank account in India would soon be able to withdraw cash from an automated teller machine (ATM) with the use of mobile technology, Researve Bank of India Governor Raghuram Rajan announced on Wednesday. At present, only bank account holders can withdraw cash from an ATM. “We have recently approved the in-principle setting up of a payment system ... Read More »

Muthoot Finance enters White-Label ATM, to invest Rs 300cr

Muthoot Finance, which provides loans against gold, on Tuesday entered into the White-Label ATM (WLA) space by setting up its first such unit, and plans to invest Rs 300 crore in the next three years. The Reserve Bank has permitted non-banking companies to set up ATMs, referred to as WLAs, to increase the penetration of the facility across the country. ... Read More »