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Kotak Mahindra Bank has acquired the non-performing portfolio of Barclays Bank’s credit card business in India. The deal, experts said, gives momentum to the sale of stressed loan market in the country which has been having a dry run following stringent regulatory norms introduced in 2007. Last month, Standard Chartered Bank bought the performing portfolio […]

When we swipe our card at shopping malls and restaurants or use it at the ATM to withdraw cash and pay utility bills, we are under the constant threat of our cards being counterfeited. Besides, if you lose your card, someone can misuse the time lag, between your losing and blocking the card, to swipe […]

Ajay has to first deal with the question of whether he needs multiple credit cards and, if so, how many. Having more than one card is useful when a large payment has to be made or when a particular card cannot be used. Ideally, the cards should have different affiliations, such as MasterCard and Visa. […]

RBI, has slashed the cash reserve ratio (CRR or a portion of deposits banks have to keep with the RBI) by 0.5 per cent to 5.5 per cent, signaling the reversal of the rate hike cycle after nearly two years, and to give a push to growth. It also increases the scope for reducing lending […]

State Bank of India has more than doubled the minimum income requirements for availing its car loans, worried its aggressive plan to tap the bottom of the car-buyers pyramid could saddle it with dodgy assets. The country’s biggest bank will now offer car loan only to those who earn at least Rs 2.5 lakh a […]