Author: Nisha Chawla
Nisha Chawla
Nisha Chawla is a seasoned professional with 15 years of experience in banking, insurance, investment, and the debt sector. Holding a B.Com degree, she has been writing for the past five years, offering valuable insights on banking, loans, and financial schemes. Her passion for writing brings clarity to complex financial topics.
If you have important banking work lined up in October 2024, it’s essential to plan ahead. Banks across India will remain closed for a total of 15 days in October, including Sundays, the second and fourth Saturdays, and several state-specific and national holidays. The month is packed with major festivals like Gandhi Jayanti, Dussehra, and Diwali, which will affect banking operations in various regions. To ensure your banking needs are met without disruption, check the complete list of holidays and plan your visits accordingly. Below is a simplified overview of the upcoming bank holidays. Full List of Bank Holidays in…
India’s Non-Banking Financial Companies (NBFCs) have started showing significant improvements after stricter regulations were introduced by the Reserve Bank of India (RBI) in 2022. A recent study conducted by economists from the RBI reveals that the sector has bounced back, but it also highlights areas where NBFCs need to be cautious, particularly in managing cybersecurity and climate-related risks. Impact of RBI’s Scale-Based Regulations (SBR) The RBI implemented Scale-Based Regulations (SBR) for NBFCs in October 2022, which brought tighter oversight and improved governance in the sector. This has led to a visible improvement in performance metrics. The study found that the…
State Bank of India (SBI) debit cardholders can enjoy the convenience of contactless payments. Without needing to enter a PIN, customers can make payments of up to ₹5000 by simply tapping their card on the machine. If you’re facing issues making contactless payments with your SBI debit card, it might not be activated for this feature yet. The good news is, that you can easily enable it through SBI’s internet banking platform. Here’s how. What is SBI Contactless Payment? With SBI contactless debit cards, payments can be made at any merchant by just tapping the card on the Point of…
For those who frequently travel, having a credit card that provides free access to airport lounges can significantly enhance the experience. Lounge access offers a range of benefits like complimentary food, high-speed Wi-Fi, and a peaceful environment, away from the busy terminals. Let’s explore some of the best credit cards from SBI and ICICI Bank that offer these perks. What Are Airport Lounge Credit Cards? Airport lounge credit cards are designed to provide frequent travelers with added comfort during their journeys. These cards often come with complimentary access to both domestic and international lounges, Priority Pass membership, and exclusive offers.…
Bank of Baroda (BoB) has introduced a new co-branded debit card in collaboration with EaseMyTrip, aimed at frequent travelers and lifestyle enthusiasts. This debit card comes with exclusive discounts on flights, hotels, buses, and other travel-related bookings, plus benefits like airport lounge access and premium OTT subscriptions. Key Features and Discounts on Travel With the BoB-EaseMyTrip Debit Card, cardholders can enjoy a range of exciting travel-related discounts and offers: Additional Benefits for Entertainment and Shopping The perks of the BoB-EaseMyTrip card go beyond travel: Comprehensive Insurance and Easy Application In addition to travel and entertainment perks, the card offers air…
It’s said that life can take unexpected turns, and nowhere is this more evident than in the financial world. The story of Anil and Manoj, two friends who started their careers together, illustrates how small decisions made at the start of a career can have a huge impact over time. This is a story of how two people with identical starting points ended up in vastly different financial positions just 15 years later. The Early Days: Same Jobs, Same Salaries, Different Mindsets Anil and Manoj, both aged 25 at the start of their careers, secured jobs with a monthly salary…
When you’re in urgent need of cash, a gold loan can be one of the quickest and simplest ways to arrange money. By pledging your gold ornaments as collateral, you can get a loan with minimal paperwork and quick disbursal. Here’s a fresh look at gold loans, highlighting essential aspects and which banks are offering the best rates. What Is a Gold Loan? A gold loan allows you to borrow money against your gold jewellery. You can pledge 18 to 22-carat gold, and the bank provides a loan based on the value of that gold. It’s considered a secured loan…
Gold loans are a popular way to meet immediate financial needs, and they come with the added advantage of minimal documentation and quick processing. However, selecting the right financial institution is essential to ensure you get the best deal. Here’s how you can make the right choice when opting for a gold loan. Understanding Gold Loans A gold loan is a secured loan where you pledge your gold jewellery or coins as collateral in exchange for funds. The loan amount depends on the value of your gold, typically calculated using the loan-to-value (LTV) ratio. Many people use gold loans for…
At some point, many of us have experienced frustration when a bank employee refuses to complete our work or makes us wait unnecessarily. From asking you to return after lunch to not being available at their desk during office hours, such situations can be frustrating. But did you know that the Reserve Bank of India (RBI) has granted bank customers several rights to address such issues? If a bank employee is neglecting your work, immediate action can be taken. Your Rights as a Bank Customer: Take Action Against Delays Many bank customers are unaware of the rights they have to…
The recent decision by the US Federal Reserve to reduce interest rates has caught the attention of global markets, including India. This rate cut, driven by inflation concerns and job market shifts in the US, could have significant ripple effects on the Indian economy. While there is no immediate change in India’s interest rates, experts predict that the Reserve Bank of India (RBI) could take cues from the Federal Reserve’s actions, potentially influencing the lending and investment environment. Why Did the US Federal Reserve Reduce Interest Rates? The Federal Reserve, which is the central bank of the United States, has…