The RBI Won’t Save You, But This Will: 4 Steps to Crush Credit Card Debt
The Post-Festive Reality Check The lights of the festival are gone, the wedding season is winding down, but the financial hangover is just beginning. For millions of Indians, December isn’t just about holidays; it’s about the dread of opening that credit card statement. If you are staring at a bill that is higher than your […]
RBI Observed Financial Literacy Week in February
The Reserve Bank of India (RBI) has declared February 14 to 18 as financial literacy week in order to promote financial education among the public. The program is aimed at educating the general public on the importance of financial literacy and the launch of ” Go Digital, Go Secure “ in India Now-a-days, the government is taking […]
Are Bank Recovery Agents Crossing the Line? Here is How to Stop Harassment from Recovery Agents
In India, consumer rights have been disregarded for a long time, especially when collecting outstanding dues like bank loans and credit cards. There are numerous cases of oppressive and illegal conduct by recovery agents attempting to collect pending or missed dues on behalf of the banks. In the past few years, there have been many […]
The 900-Credit Score: What it Means and How to Get One
Your credit score is the most important factor affecting your future purchases. This three-digit number indicated your creditworthiness or the likelihood that you’ll repay money you borrow. It is generally considered that a credit score in India ranges from 300 to 900, with 900 being the highest and 300 the lowest, which is considered poor. […]
Money Management Basics: Top Tips for How to Manage Your Money
From paying off debt to maintaining savings for the purpose of emergency savings in the bank, your financial fate hinges on key management basics. It is important to get familiar with the fundamentals of how to manage money from the base of ground to achieve your financial goals. Once you successfully manage your money, it […]
Behind the Scenes: How Debt Settlement Companies in India Works and the Risk You Face
Debt settlement in India is simply defined as an agreement made with creditors to accept less than the amount you owe. It means that creditors will stop harassing you for the money if you settle down your amount. For many people, debt settlement may seem like the most viable solution to be debt-free. But little […]
What Is a Zero Balance Account (ZBA)?
A zero-balance account (ZBA) is pretty much exactly what it sounds like: a checking account in which a balance of zero is maintained. When funds are needed in the ZBA, the exact amount of money required is automatically transferred from a central or master account. Similarly, deposits are swept into the master account daily. Corporations […]
Recurring Deposits
The Reserve Bank of India, has over the years introduced various schemes to educate the public on how to save money. One of the key directives issued by RBI was the introduction of term deposits and the interest applied on such schemes. As per clause 2(iv) of RBI Master Circular dated 16th March 2004, Term […]
Importance of Credit Score
Have you ever wondered how lenders decide if you qualify for credit? Well, each person has a credit file which carries a score that decides importance Have you ever wondered how lenders decide if you qualify for credit? Well, each person has a credit file which carries a score that decides importance of credit score […]
Banks and Banking Systems in India – Origin and Evolution
What is a Bank? Most of us are familiar with the banks and banking systems in our daily life as we must have seen our parents either drawing out cash or making deposits into their bank accounts. Back in the day, some of us would have accompanied them waiting in the long queues of the […]
