CONSUMER INTEREST


Moneylife Digital Team 11 October 2019
While we have regular loan waivers and corporate loan write-offs, why is no there financial system to protect the common man's savings, asks Deepak Parekh, chairman of Housing Development Finance Corp (HDFC).    "To my mind, there is no greater cardinal sin in finance than the misuse...

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Moneylife Digital Team 10 October 2019
Facing flak from several quarters on the Punjab & Maharashtra Co-operative (PMC) Bank fraud case, finance minister Nirmala Sitharaman on Thursday says if amendments help in better regulation, the union government would go ahead with the required legislative procedure in cooperative sector....

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Moneylife Digital Team 09 October 2019
Reliance Jio Infocomm Ltd (Jio) while intensifying its agitation against Telecom Regulatory Authority of India (TRAI), has decided to charge 6 paisa per minute from all users who will call any other operator. Jio, however, says, since it will be providing equivalent data for the value of this...

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IANS 09 October 2019
The State Bank of India (SBI) on Wednesday cut interest rate on savings deposits, with a balance of upto Rs 1 lakh, by 25 bps to 3.25 per cent from November 1, and slashed retail & bulk term deposit interest rates by 10 and 30 bps respectively for 1 year to less than 2-year tenor from October...

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IANS 09 October 2019
The State Bank of India (SBI) on Wednesday announced lowering its marginal cost of funds based lending rate (MCLR) by 10 basis points across all tenors to 8.05 per cent from October 10. The MCLR cut will make home and other retail loans cheaper for the existing borrowers.   The bank's...

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Once again, it is the same story. Poor service from a well-known corporate name lets down a young couple who, eventually, wrested an order that slapped a warning and a cost on Kesari Tours Pvt Ltd.   Mr and Mrs Nair had planned a honeymoon in New Zealand. Mr Nair had planned...

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Whenever there is a financial scandal, a number of foolish solutions emerge. They are often like Band-Aid for a festering wound. Ostensibly aimed at protecting us, these solutions can end up harming us even more. They can impose a crippling long-term cost on innocent depositors, while letting...

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Moneylife Digital Team 04 October 2019
The Reserve Bank of India (RBI) has raised withdrawal limit for depositors of Punjab and Maharashtra Cooperative Bank Ltd (PMC Bank) to Rs25,000 from Rs10,000. RBI has also appointed a three member committee to assist the administrator of PMC Bank.   "The RBI again reviewed the bank's...

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Moneylife Digital Team 01 October 2019
With the festive season around the corner, it is raining smartphones in the Indian market. Some of the biggest players have launched the most anticipated phones of the year to kick-off the celebrations.    To add to this, Amazon and Flipkart’s online festive sales further present...

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Moneylife Digital Team 26 September 2019
After facing a backlash from disgruntled customers and social media, the Reserve Bank of India (RBI) on Thursday increased the withdrawal limit to Rs10,000 from Rs1,000 for customers of Punjab and Maharashtra Cooperative (PMC) Bank.   In a notification, RBI says, "it has been decided...

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IANS 26 September 2019
The steps taken to reverse the economic slowdown, along with the upcoming festive season offers, might have the potential to accelerate the automobile sector's sales growth, industry insiders opined.   The trend of reduced prices on the back of recent corporate tax sops is expected to...

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IANS 25 September 2019
There has been a tectonic shift in the past decade not just in the overall buying pattern but also in the age of property buyers, according to a new report on Wednesday which found that younger Indians with much lower savings kept away from bank loans seeing them as risky, and were also very...

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Moneylife Digital Team 24 September 2019
Those customers who have been making rounds of their bank to get back their hard-earned money after a failed transactions (usually in ATMs or online), here is a good news. The Reserve Bank of India (RBI) has asked all banks to pay a penalty of Rs100 per day for the delay in crediting money in...

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Moneylife Digital Team 24 September 2019
In a move that has caused panic among depositors, the Reserve Bank of India (RBI) on Tuesday imposed strict restrictions on the Mumbai-based Punjab & Maharashtra Cooperative Bank Ltd (PMC). It has been barred from carrying out a majority of its routine business transactions for six months,...

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Moneylife Digital Team 24 September 2019
Following discussions with the government and receiving assurance to set up a committee for looking into the issues arising out of public sector bank (PSB) consolidation, the 26th and 27 September 2019 strike called by bank officer's union has been deferred.    "The secretary finance...

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IANS 23 September 2019
Petrol and diesel prices in the country continued to surge for the seventh day on Monday on the back of the ongoing tensions in the Middle East and the US-China trade war.   Petrol rates in Delhi, Kolkata, Mumbai and Chennai were Rs 73.91, Rs 76.60, Rs 79. 57 and Rs 76.83 per litre...

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IANS 20 September 2019
The festival season discount is back, but what would cheer the shoppers more this time are the sharper discounts offered by retailers across categories -- from kitchenware and electronic items to apparels -- to clear off the inventory.   Facing worst sales slowdown in the last two...

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IANS 20 September 2019
With data privacy now becoming hot button, breaches too are common place. However, when the government itself decides to wilfully use data to generate revenue, then questions of propriety are raised for this is proprietary data with the right to it and ownership of it vested with the...

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TruthInAdvertising.org 18 September 2019
The dirt on beauty and personal care products marketed as "clean."   With more and more beauty and personal care products being marketed as “clean,” it’s worth asking: What does that even mean? That the product is nontoxic? Free of chemicals? Organic?   In the absence of a...

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IANS 13 September 2019
To ease liquidity and boost demand, the Reserve Bank of India on Thursday notified the reduction in risk weightage for consumer credit, excluding credit card receivables.   The risk weight for consumer credit, including personal loans, but excluding credit card receivables was reduced...

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