Money Management Planning for Women in India: Empowering Financial Independence

In India, women have made significant strides in various spheres, including education, careers, and entrepreneurship. With increasing financial independence, it becomes crucial for women to focus on effective money management. Having a comprehensive money management plan can help women take charge of their finances, achieve their financial goals, and secure a stable future. This article […]
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Student who took loan from Chinese app commits suicide

A young student named Hiren (Changed name to hide the identity), aged 22, and tragically took his own life by hanging himself in his home in Bengaluru. Hiren, who was studying engineering in Yelahanka, had been subjected to harassment by representatives of a Chinese loan app. Hiren had borrowed money from a loan app called […]
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Digital Evolution in the Banking Industry in India: Shaping the Future of Banking

The banking industry in India has witnessed a significant transformation with the advent of digital technologies. The integration of digital solutions has revolutionized the way banks operate, deliver services, and engage with customers. This article explores the digital evolution in the banking industry in India, highlighting its current state and discussing the future of digitalization […]
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RBI Imposes Penalties on Credit Bureaus for Non-Compliance

The Reserve Bank of India (RBI) has taken strict action against four credit bureaus for non-compliance with regulations, imposing monetary penalties on them. The credit bureaus, responsible for maintaining credit information, were found to have inaccuracies and incompleteness in their records during a statutory inspection. This article highlights the penalties imposed by the RBI and […]
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Indian Bank has introduced digital services as part of its ‘Project WAVE’ initiative

Indian Bank has introduced new services as part of its digital transformation initiative called Project WAVE. In collaboration with National E-Governance Services Ltd, the bank has launched an electronic bank guarantee (e-BG) service to simplify traditional paper-based processes. This initiative aims to reduce the turnaround time for issuing and delivering bank guarantees from an industry […]
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Understanding How Credit Bureaus Work and the Importance of Credit Bureaus in India

In today’s financial landscape, credit plays a crucial role in determining an individual’s financial well-being. Whether you are applying for a loan, a credit card, or seeking to establish your creditworthiness, the assessment of your credit history is a key factor. In India, credit bureaus have emerged as essential institutions that gather and analyze credit-related […]
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Government’s Special Drive Targets Fake GST Registrations to Safeguard Revenue and Ensure System Integrity

The Central Board of Indirect Taxes and Customs (CBIC) is taking steps to address the issue of fake registrations in the Goods and Services Tax (GST) system. CBIC chief Vivek Johri has revealed that biometric authentication is being considered for risky entities to tackle fraudulent activities where PAN and Aadhaar of other individuals are misused […]
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The Impact of Credit Scores on Everyday Life

Your credit score, a three-digit number, may seem like a small piece of information. However, it holds tremendous power over various aspects of your everyday life. From financial opportunities to personal choices, your credit score plays a pivotal role in shaping your future. In this article, we will explore the far-reaching consequences of credit scores […]
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What’s Driving India’s Increase in Credit Card Use? – 10 crore cards expected by the end of 2023

India now has a credit card penetration rate of roughly 5.5%, or 77 million people, of its 1.4 billion populations. Despite the low penetration rate, there is already a market included that is greater than either Malaysia’s or Thailand’s entire population. India’s population of prospective credit card customers will continue to expand as its economy […]
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RBI on Compromise Settlement and Technical Write-offs

The Reserve Bank of India has issued various instructions to regulated entities (REs) regarding compromise settlements in respect of stressed accounts from time to time. The provisions of this framework shall apply to all REs to which this circular is addressed and shall be without prejudice to the provisions of the Prudential Framework, or any […]
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