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The working group formed by the Reserve Bank of India (RBI) to study aspects of digital lending activities by regulated as well as un-regulated players, has listed out over 1,000 illegal mobile lending apps that are busy wooing hapless customers stuck in urgent need of cash. “We do not know how many mobile app-based lending companies are […]
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New Delhi: Yes Bank is looking to build a brand around its credit card business and aiming to double its customer base in the segment in the next two years, the head of its credit card business said. Also, the bank is targeting a four-fold rise in its book value over the next two years. […]
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Mumbai: Massive rise in retail fuel prices crowded out other discretionary spends on credit cards in December, according a report by SBI Research. Non-discretionary spends on credit cards has come back to 65% of the total spends, while discretionary spending has fallen below the trend rate of 35%, said the report authored by Soumya Kanti […]
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New Delhi: S&P Global Ratings said India’s banking system’s low profitability and weak asset quality present some difficulties in significantly boosting digitalisation for several state-owned and smaller private-sector banks. In its report titled ‘Tech Disruption in retail banking: Top tier banks lead the change’, S&P said India’s digital disruption, however, poses a relatively low risk […]
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UPI is a single platform that merges various banking services and features under one umbrella. It allows the transfer of money from one bank account to another instantly via one’s mobile phone. Payments can be made via an app on a mobile device only. The money transfer via UPI works on a 24×7 basis. To […]
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Over the past few years, digital payments have witnessed tremendous growth in India. This growth has been largely driven by digital wallets and Unified Payments Interface (UPI). And this is visible from the fact that UPI transactions have been rising consistently, making a new high every month for the past six months. For instance, UPI […]
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Many people apply for a credit card without understanding how it works. The easy money entices them to swipe the card irresponsibly without thinking how to pay it back. The surprise comes later when they receive the statement loaded with heavy penalty and interest charges. Here are five questions you should ask before applying for […]
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With multiple options, comes multiple dilemmas! All of us, at some point, are asked to choose the most profitable mode of online payment to maximize earnings. A debate between which is better: Credit card or UPI has come with multiple arguments and justifications to lure the customers. UPI-linked applications like Google Pay, PhonePe, BHIM, etc. […]
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New Delhi: Paytm Money on January 13 said it will provide Futures & Options trading (F&O) on its platform. Given the limited penetration of stock investments in the country, Paytm sees a high growth trajectory for its stocks broking offering, similar to its mutual fund offerings, Paytm founder and CEO Vijay Shekhar Sharma said. Paytm […]
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New Delhi: Online transactions grew 80 per cent in 2020 over the previous years, driven by strong adoption of digital transactions in tier-II and III cities, according to a report by fintech firm Razorpay. The report pointed out that UPI transactions outgrew cards, net banking and wallets with 120 percent growth in 2020. Razorpay said […]
