The competition in this arena is expected to further strengthen the infrastructure capabilities of CIBIL, which currently has the first mover advantage and a huge database to its credit, not to mention a huge list of banks and financial institutions as its members. On the other hand the new entrants come with the rich experience… Read More »
CIBIL acts as weeding mechanism, that helps identify poor repayment track records. It helps protect lenders from giving credit to people and establishments who are unlikely to repay what is lent. Even if credit is provided, it is done so at a very high rate of interest, thereby ensuring that the bank is able to… Read More »
Credit card is a powerful credit tool to help you tide over short term financial requirements. However they must be used judiciously, as any misuse of the card can attract stiff charges and make you fall into debt trap, besides destroying your credit rating. So the watch word is – BE CAREFUL when using the… Read More »
Closer to home, an 18-year-old IIT student posed as a bank executive, got credit card details from customers, and then used the data to book air tickets and buy laptops. He tied up with a travel agent to cancel the tickets and share the returns, while he sold the laptops across the country at a… Read More »
The rapidly evolving banking systems have enabled credit cards emerge from a simple tool for cashless transactions to multiple types with different interest rates, fees and reward programs.
Kolkata-based UCO Bank has reported a 38.40 per cent rise in net profit to Rs 207.72 crore for the second quarter compared to Rs 150.09 crore in the same period last year.
A top official of Public Sector lender, Central bank of India said in Mumbai that the bank was expecting its home loan segment to grow by 25 per cent in the current fiscal, which would widen the portfolio size to Rs 10,000-crore.
The Development Credit Bank was established in the year 1930. The main promoter of the bank is the Aga Khan Fund for Economic Development (AKFED) which holds over 26% stake in the bank.
The Bank Of Rajasthan Ltd. was established as a joint stock bank by the Mansingka Brothers at Udaipur in Rajasthan on May 8, 1943. The Bank was established with an initial capital of Rs.10L with the Late Seth Shri Govind Ram Seksaria, an eminent Industrialist of the country, as the founder Chairman.
It has been brewing for sometime now, credit card spending is on the decline. The recession has tightened the purse strings of individuals who may have temporarily shelved their credit cards. An indication of some such development is evident by the figures discovered during a survey for credit card spends and usage patterns.