Bank

RBI for two-stage verification for online transactions

Worried over rising number of frauds in online banking, the RBI has suggested that banks introduce two-stage authentication to ensure security of transactions. The RBI report on ‘Enabling Public Key Infrastructure (PKI) in Payment System Applications’ said banks should also inform customers about risks associated with different types of online banking transaction. “Internet banking applications of all banks should mandatorily ... Read More »

RBI to shortly issue Rs 500, Rs 100 notes of 2014 printing year

The Reserve Bank will shortly issue banknotes of Rs 500 and Rs 100 denominations in the Mahatma Gandhi series with 2014 as the printing year. “The RBI will shortly issue Rs 500 denomination Banknotes incorporating rupee symbol on the obverse and reverse, with inset letter’E’ in both the numbering panels, in the Mahatma Gandhi Series-2005,” RBI has said. Besides that, ... Read More »

Earn As You Splurge

Do you know why reward points earned on credit/debit card transactionsexpire if not redeemed on time? Is it a significant loss? Why would a card company deduct the reward points if not redeemed? And, of course, why do card companies give reward points for using their cards in the first place? When a bank offers you a credit/debit card, it ... Read More »

State Bank of India to hold home loan rates

“Home loan rates will remain as they are,” State Bank of India Chairperson and Managing Director Arundhati Bhattacharya said on the sidelines of the IIM Calcutta’s 49th convocation. The Reserve Bank of India (RBI) on Tuesday kept policy rates unchanged but lowered the borrowing limit for the banks from the overnight facility A lowering of borrowing limit is likely to ... Read More »

SBI extends special home loan scheme indefinitely

State Bank of India (SBI), India’s largest lender and the largest home loan player, has extended the date of special home loan rates for new and women borrowers beyond March 31 for an indefinite period. Last December, SBI had cut its home loan rates by up to 0.4 per cent for new borrowers and for women customers an additional concession ... Read More »

Key highlights: Raghuram Rajan holds rates in RBI’s first bi-monthly review

In its monetary policy review, the Reserve Bank of India has kept key rates unchanged. The cash reserve ratio (CRR) has also been kept unchanged at 4 per cent. Presenting the first bi-monthly review as the new financial year begins on Tuesday, RBI Governor Raghuram Rajan said the downside risks to growth have increased marginally since January. HIGHLIGHTS FROM THE ... Read More »

Key highlights: Raghuram Rajan holds rates in RBI’s first bi-monthly review

(Photo: Associated Press) In its monetary policy review, the Reserve Bank of India has kept key rates unchanged. The cash reserve ratio (CRR) has also been kept unchanged at 4 per cent. Presenting the first bi-monthly review as the new financial year begins on Tuesday, RBI Governor Raghuram Rajan said the downside risks to growth have increased marginally since January. ... Read More »

Best Loan Buys

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. (Data provided by Deal4Loans.com; All rates updated till March 14, 2014) [“source-businesstoday”] Read More »

Loans set to get costlier as RBI raises repo rate by 0.25 pc

Reserve Bank Governor Raghuram Rajan on Tuesday again surprised the markets and raised the key policy rate by 0.25 per cent to 8 per cent in a bid to curb inflation, a move that may translate into higher EMIs and push up the cost of borrowing for corporates. “…an increase in the policy (repo) rate by 25 basis points is ... Read More »

Best Loan Buys

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 »