Struggling with Business Debt? See How CIDA Negotiated 72% Savings & Legal Relief
The outstanding amounts of the loans as of December 2023. Which is roughly 1.83 Crores and the whole debt was settled for 50.65 Lac with an Average Settlement Amount of 5.06 Lacs and an average discount of 72.39%. × Introduction In the fast-paced world of performance marketing, financial stability can sometimes be as volatile as […]
Government Has Brought Credit Card Spend Under LRS Ambit
The Central Government has changed the Foreign Exchange Management Act guidelines to include credit card spending outside of India under the Liberalised Remittance Scheme (LRS). As a result, from July 1, such credit card transactions will be subject to a 20% tax collected at source (TCS). The amendment was implemented this week by the Central […]
What happens to a person who is unable to pay his debts?
Money problems often lead to many people losing their finances for various reasons. While few people are prepared for unexpected hardships, others fail to cope with them. Having to deal with financial crisis can add more stress to your life. It can be more devastating to deal with repaying your debts and ultimately falling into […]
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 […]
