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.
The Indian Rupee took a hit, reaching a record low of 84.30 against the US dollar as former President Donald Trump moves closer to securing another term in the White House. Wednesday’s drop of 21 paise marks a significant low, driven by the strengthened dollar and continuing foreign investment outflows from Indian markets. This currency fall highlights the impact of global political developments on India’s foreign exchange and market sentiment. Dollar Surge and Investor Concerns Forex experts suggest that the rise of the US dollar index, spurred by Trump’s likely victory, is putting pressure on the rupee. The dollar index,…
If you’re aiming for a career in the banking sector, Bank of Baroda (BOB) is now accepting applications for several managerial and leadership roles. With positions available in multiple departments, this recruitment drive offers a significant opportunity for eligible candidates to join one of India’s leading banks. The online application window is open, and candidates have until 19 November 2024 to complete their submissions. Below are the essential details on eligibility, age limits, fees, and the step-by-step process to apply. Key Roles Available in Bank of Baroda’s Latest Recruitment Drive Bank of Baroda’s recruitment drive includes a variety of roles…
If you use a bank locker to store valuable items, it’s important to stay updated on recent policy changes and new fee structures. Leading banks like SBI, ICICI, HDFC, and PNB have recently updated their locker fees, security rules, and nomination services to better serve customers. Here’s what you need to know to manage your locker effectively under these new policies. Understanding Bank Locker Services and Security Bank lockers are provided to individuals, companies, clubs, and other customers. However, banks don’t offer lockers in the name of minors. Acting as custodians, banks provide locker services for an annual rental fee,…
If you hold a credit card from SBI or ICICI Bank, there are some important updates you should know about. Both banks have announced several changes to their credit card reward programs, charges, and benefits that will take effect this November. These changes impact everything from utility bill payments to airport lounge access, so it’s essential to be aware of how they might affect your card usage. SBI Card: Key Changes from November 1, 2024 For SBI credit card users, the new rules are already in effect from November 1, 2024. Here are some of the main updates to keep…
Fixed Deposits (FDs) are a reliable investment choice, especially if you have idle funds and want stable returns without exposure to market risks. Short-term FDs (1-3 years) are popular due to their low risk and predictable returns. Here’s an overview of some banks offering the highest interest rates for 1-year and 3-year FDs, helping you make an informed choice for your investment. Why Choose a Short-Term FD? Short-term FDs can help build an emergency fund and provide a secure place for your savings with flexible terms. They offer liquidity, allowing funds to be withdrawn when needed. Here’s why a 1…
India’s banks are becoming increasingly selective in handing out credit cards as default risks grow in the unsecured loan market. Recent data shows that the number of new credit cards issued in September has dropped sharply, as banks reassess their exposure to non-repaid credit card debt. Here’s a closer look at why banks are holding back and how rising defaults are impacting credit card distribution in India. Decline in New Credit Card Issuances The latest data from the Reserve Bank of India (RBI) reveals a noticeable drop in new credit card distribution. Banks issued approximately 6.2 lakh new credit cards…
The central government has launched the Pradhan Mantri Vishwakarma Yojana (PMVY), a scheme to empower skilled artisans from various traditional trades across India. This initiative aims to provide financial assistance and skill development support to eligible individuals in trades like carpentry, goldsmithing, pottery, and more. Here’s a breakdown of how you can benefit from this scheme. Key Benefits of PM Vishwakarma Yojana 1. Interest-Subsidized Loan Without CollateralThe most attractive feature of this scheme is the easy access to loans without requiring collateral. Eligible artisans can take a loan of up to ₹3 lakh at a low interest rate of 5%…
With Diwali just around the corner, many banks and financial institutions are offering attractive home loan schemes. From low interest rates to no processing fees, these festive deals seem perfect for those looking to buy a home. However, experts advise borrowers to carefully plan their loans and consider both the financial benefits and long-term impact before making any commitments. Special Offers on Home Loans During the Festive Season Banks are offering exciting festive home loan benefits, including: Plan Your Loan Wisely Before Applying While festive offers are tempting, borrowers should take a cautious approach. Raul Kapoor, Co-CEO of Andromeda Sales…
While the State Bank of India (SBI) is well-known for serving millions in India, it is also making a significant mark internationally, particularly in Africa. SBI, in partnership with India Exim Bank, is actively contributing to economic growth and stability across 40 African nations, showcasing India’s growing global footprint. Collaborating to Support African Businesses Together, SBI and India Exim Bank are playing an essential role in addressing the financial needs of African businesses. By offering critical trade finance and facilitating access to funds, these banks are bridging the financial gap that often limits the growth of enterprises in African countries.…
When you’re thinking about taking out a personal loan, it’s crucial to make an informed decision. With several banks and financial institutions offering personal loans at varying interest rates and repayment terms, choosing the right option can be overwhelming. One of the easiest ways to simplify this process and ensure you make a sound financial decision is by using a Personal Loan EMI (Equated Monthly Installment) calculator. A Personal Loan EMI calculator is an online tool that helps you quickly estimate how much you will need to repay every month based on the loan amount, interest rate, and tenure. Here’s…