A failed loan EMI auto-debit can wreck your CIBIL score and cost you future loans. But experts say you can fix it — if you act fast and follow the right steps.
The RBI’s recent repo rate cut sounds like good news for borrowers hoping for lower EMIs. But experts warn that unless you take action, you could still end up overpaying by lakhs on your loans.
Millions of Indians earning informal incomes remain locked out of traditional home loans, trapped by rigid paperwork and wary lenders. Experts say alternative data and fintech innovation could finally open the doors to homeownership for this vast underserved segment.
Missing EMIs can severely damage your credit score, making future borrowing more difficult and expensive. Delayed payments don’t just invite penalties—they can also lead to legal complications if left unresolved. That’s why taking proactive steps, like communicating with lenders and managing finances carefully, is essential to avoid financial stress.
Former Finance Minister P Chidambaram has welcomed the decision by major Indian banks to scrap the minimum balance rule for savings accounts, calling the earlier policy “obnoxious”.
BNPL often shifts from a handy payment option to an ongoing debt pattern. Stealthy fees and credit score hits can trigger unexpected financial trouble.
From January 1, 2026, the Reserve Bank of India will ban prepayment charges on floating rate loans, offering borrowers greater flexibility to repay loans early without penalties. The move aims to promote fairness, transparency, and competition among lenders, addressing long-standing grievances over hidden costs and restrictive clauses.
A dreamy foreign vacation can quickly turn into a financial nightmare if you’re not prepared for what comes after. CA Abhishek Walia warns that the true price of travel isn’t just the upfront cost but the months of financial strain that can follow. He urges travellers to plan wisely so their holiday memories don’t come with a debt hangover.
India is stepping up its fight against cyber-enabled financial fraud with a new directive from the Reserve Bank of India (RBI). Banks and financial institutions are now required to integrate the Department of Telecommunications’ (DoT) Financial Fraud Risk Indicator (FRI) into their systems. The move promises real-time fraud detection and greater digital security across the nation’s booming financial ecosystem.
SBI has turned down a job offer to a former HDFC Bank deputy manager due to an adverse CIBIL score. The Madras High Court upheld SBI's decision, highlighting the importance of financial discipline for banking professionals.
- RBI cuts repo rate by 100 basis points, affecting loan dynamics. - Borrowers evaluate Marginal Cost of Funds-based Lending Rate (MCLR) and Repo-Linked Lending Rate (RLLR). - Key considerations include rate transmission speed and financial stability.
Job loss is hard. Job loss with a ₹90,000 EMI? Even harder. A 32-year-old homebuyer shares his real struggle—how he’s staying afloat after losing his job while servicing a massive home loan. Here's what the experts say.
Sources within the ministry stated that while the quantum of the revised insurance cap is still being analysed, the government remains committed to evaluating the proposal thoroughly before making an official announcement.
IDFC First Bank has introduced a new feature allowing NRIs to make UPI payments in India via international mobile numbers, free of charge. This service is available to NRE and NRO account holders across 12 countries, offering seamless, secure transactions without the need for an Indian SIM card.
According to the report, loans to agriculture, industry, and services have all declined, with overall credit growth to industry falling from 8% to 6.7%.
The TRAI, in collaboration with the RBI, has initiated a pilot project aimed at reducing spam calls, focusing on digital consent management for banks to enhance customer relief and security.
UPI payments are now faster than ever, thanks to a major backend upgrade rolled out by NPCI. From June 16, key transaction processes like payments, reversals, and status checks are completing in seconds.
Designed for modern spenders and travel enthusiasts, the card not only supports UPI transactions via RuPay but also ensures global acceptance through Visa.
Aimed at enhancing customer experience, the initiative incentivises digital transactions with loyalty points, which can be redeemed across a wide range of lifestyle categories.
Canara Bank and Union Bank have cut lending rates following the RBI’s surprise 50 basis point repo rate reduction to 5.5%. The move is expected to ease EMIs and boost credit demand across retail and MSME segments.
- HDFC Bank has cut FD and savings account interest rates following an RBI rate cut. - Savings account rates now stand uniform at 2.75% per annum. - Fixed Deposits for general and senior citizens have also seen reductions.