Recently, the data presented in Rajya Sabha has stated that public sector banks have written off an amount around Rs. 91,000 crore in the first 9 months of the current fiscal year. Another data informed that PSBs managed to recover a little over Rs 1 out of Rs 5 in written-off accounts for the financial […]

The global economic crisis is looming around the world. The collapse of Silicon Valley Bank, the 16th largest bank in the United States has sent shudders around the world. The move of closing the SVB by U.S. banking regulators, putting the tech-heavy lender into receivership, moving quickly to protect depositors as a crisis rippled through […]

Most are aware that Citibank has scaled down operations in India. It is not the first time that a foreign bank has winded up the business in India as a part of a global strategy. Earlier, Barclays, HSBC, and Bank of America – Merrill Lynch, too, have downsized their operations due to high capital requirements […]

Being a credit card user, you must know about reward points. Many of you know how to use reward points smartly. However, many credit card users are unaware of using credit card reward points optimally.   Post pandemic 2020, every aspect of our lives has been changed such as, lifestyle, financial habits, spending and shopping […]

Recently the finance bill 2023 was passed in the Lok Sabha with a total of 64 official amendments proposed in the bill. These will include clarifications and also measures to take the sting out of some of the tax proposals announced in the budget and also include setting up a committee under the finance secretary […]

Customers of selected banks from India and Singapore will be able to undertake cross-border remittances. At present, there is a daily limit of Rs 60,000 (around SGD 1,000). The Reserve Bank of India (RBI) and the Monetary Authority Singapore (MAS) recently announced the UPI- Pay Now linkage – the real-time payment system linkage between India’s […]

The previous budget 2022 has focused on digital and technology to gear up the banking and finance sector which has helped the sector to scale, better and faster service delivery, ease of access to credit and participation in the financial market. The budget 2023 proposes further measures to continue the digitalization as part to reform […]

The Union Budget 2023 presented in February. The budget was no exception as it rewrapped with old schemes in new avatar. However, finance minister Nirmala Sitharaman has announced five major changes for tax payers. Tax rebate limit is raised to ₹7 lakh from ₹5 lakh. The new tax rates are as below. Income Slab Income Tax Rate […]

Among the chosen 190 countries2, India ranked 63rd in Doing Business 2020(Ease of Doing Business). It means that India is a favorable country for starting up a business. More and more people are working on start-ups. The Government of India is also inspiring to start a business with its various schemes, program, education, workshop, seminar, […]

The Reserve Bank India released a report before start of 2023 on banking frauds that has increased in number terms, but the amount involved more than halved in FY 2021-22. The number of financial frauds rose to 5,406 in the first six months of the financial year 2022-23 compared with 4,069 in the corresponding period […]