Credit

  • Visa launches new Visa Checkout service to make online payments simpler 1 week ago

    New York: Payment processor Visa is launching a new service called Visa Checkout that eliminates a few steps in online payment. The company and its retailing partners, including Neiman Marcus, Pizza Hut, Staples and others, hope a quicker payout will lead to fewer abandoned shopping carts online. As more customers shop...
  • Narendra Modi feels heat from credit agencies, markets on budget July 11, 2014

    New Delhi: Prime Minister Narendra Modi is under pressure to perform on the economy after a budget packed with ambitious targets met mild scepticism from investors and credit-rating agencies and failed to dispel the latent risk of a downgrade. With varying degrees of severity, Fitch, Moody's and Standard & Poor's all...
  • News 360: Union Minister Gopinath Munde dies in road accident in Delhi June 3, 2014

    In a tragic turn of events on Tuesday morning, Union Minister for Rural Development Gopinath Munde died of multiple internal injuries after his car was hit by another vehicle in Delhi. The 64-year-old Munde, who is survived by his wife and three daughters, was going to the Delhi airport to...
  • Inflation not easing soon; rate hike likely by December: Analysts June 3, 2014

    Mumbai: As the Reserve Bank maintained a status quo on key policy rates, analysts said that higher demand due to supply constraints will not allow inflation to ease as quickly as anticipated and the apex bank may be forced to increase rates once more by the year-end. In its second...
  • Finance Minister Arun Jaitley calls for fiscal discipline to bring economy back on track June 1, 2014

    New Delhi: Union Finance Minister Arun Jaitley on Sunday called for fiscal discipline to bring economy back on track. In his first blog after assuming office as the Finance Minister, Jaitley wrote in his blog titled 'From Celebration to Challenge', "We must move towards an era of fiscal discipline where...
  • India's get its own payment gateway 'RuPay' May 8, 2014

    New Delhi: India on Thursday launched its own payment gateway 'RuPay', equivalent of Visa and Mastercard, which will work on ATMs and mechant outlets and help in reducing cash transactions. President Pranab Mukherjee unveiled the indigenous card at a function in Rashtrapati Bhavan. Dedicating it to the nation, Mukherjee said India...
  • 1.5 lakh cash stolen from customer's bag in bank April 23, 2014

    Cash worth Rs 1.5 lakh has been allegedly stolen from a customer's bag by unidentified persons in a bank here, police said. A customer Jagdish Meena, who holds an account of Kisan Credit Card (KCC) in the State Bank of Bikaner ~~amp;amp; Jaipur's (SBBJ) Old Dhan Mandi branch, in his complaint...
  • Agri credit to cross Rs 7 lakh cr;exports to surge over $ 45 bn February 17, 2014

    New Delhi: Agriculture credit is likely to exceed the target of Rs 7,00,000 crore while farm exports are expected to increase to over USD 45 billion in the current fiscal, Finance Minister P Chidambaram said on Monday. "We are proud of stellar performance of agriculture....Agriculture credit is likely to touch...
  • 1 in every 14 Americans a victim of identity theft December 13, 2013

    Washington: The US government says 1 out of every 14 Americans age 16 or older was a target or a victim of identity theft, a crime imposing a heavy emotional toll on many of its victims. According to a national household survey of 70,000 people issued by the Bureau of Justice...
  • Bihar sets target to procure 30 lakh tonnes paddy December 4, 2013

    Bihar has set a target to procure 30 lakh tonnes of paddy this year at a minimum support price of Rs 1,310 per quintal for the ordinary produce, state Food Minister Shyam Rajak said on Wednesday. Primary agricultural credit societies (PACS) have been asked to purchase 23 lakh tonne and the...
  • RBI hikes repo rate by 25 basis points, CRR unchanged October 29, 2013

    New Delhi: The Reserve Bank of India on Tuesday hiked repo rate by 25 basis points from 7.50 per cent to 7.75 per cent. The RBI has kept the Cash Reserve Ratio (CRR) unchanged at 4 per cent. With the rupee having stabilised, the RBI lowered its Marginal Standing Facility (MSF)...
  • Rupee falls for third day, closes at Rs 61.65 vs US dollar October 22, 2013

    The rupee fell to a near one-week low on Tuesday, extending losses for a third session, on month-end dollar demand from importers amid cautious trading ahead of US nonfarm payroll data. A private chemical firm bought around $200 million early in the session and state-run banks bought dollars for meeting the...
  • Allow loans on credit cards but tell customers how much EMI to pay: RBI to banks October 10, 2013

    The Reserve Bank on Wednesday said it did not have any problem with banks offering loans to credit cardholders while purchasing goods or services but there needs to be transparency with the process. "There is no ban on giving loans on credit cards. Don't charge 12 per cent actually and claim...
  • CIBIL is not a watchdog; consumers have nothing to fear: Arun Thukral September 16, 2013

    Arun Thukral, Managing Director, CIBIL tells us why India's first credit information company is a friend of the consumer and not an enemy. PART II: 6) Who are CIBIL's competitors in India? Where does the company stand vis-a-vis competitors? Arun Thukral: Along with CIBIL, the first credit bureau in the Indian market (Launched...
  • CIBIL not a watchdog; consumers have nothing to fear: Arun Thukral September 16, 2013

    Arun Thukral, Managing Director, CIBIL tells us why India's first credit information company is a friend of the consumer and not an enemy. 1) Should consumers be glad that CIBIL exists or fear it? Please tell us why. Arun Thukral: Let me take this opportunity to clarify that CIBIL is not a...
  • MP govt gave Rs 9,000-cr farmer loans on zero per cent interest in 2012 September 13, 2013

    In a push to make agriculture more profit-oriented, the Madhya Pradesh government provided Rs 9,000 crore in loans to 30 lakh farmers on zero per cent interest rate in 2012. Stating this, an official release said in Bhopal on Friday that the state government, under the leadership of Chief Minister Shivraj...
  • Only 3.6 per cent Indian households undertake cashless transactions September 7, 2013

    New Delhi: Just 3.6 per cent households in the country undertake cashless transactions, although the government and the Reserve Bank have been taking steps to promote e-payment channels, says a report. It cited poor acceptance of cards by sellers and lack of awareness about cashless systems/options as the two main reasons...
  • China lowers 2012 GDP growth rate to 7.7 pc September 2, 2013

    China's statistics authority, on Monday, lowered the country's growth rate for 2012 to 7.7 percent based on its preliminary verification. The revised gross domestic product (GDP) came in at 51.89 trillion yuan ($8.41 trillion), down 38 billion yuan from the preliminary calculation figure that put the annual rate at 7.8 percent,...
  • Food Bill credit negative for India, will deteriorate macroeconomic situation: Moody's August 29, 2013

    Giving a thumbs down to the Food Security Bill, rating agency Moody's on Thursday said the measure is credit negative as it will weaken government finances and deteriorate macroeconomic situation. "The measure (Food Bill) is credit negative for the Indian government because it will raise government spending on food subsidies to...
  • Delhi Police arrests con man for credit card frauds July 15, 2013

    New Delhi: A con man from Maharashtra who cheated ICICI Bank customers by obtaining their credit card data has fallen into the Delhi Police net after illegal online transactions of over Rs 1 crore in the past one year, said an official on Sunday. Raju Tevar was arrested last week by...
  • ICICI credit card scam: Police arrests main accused, tracks his location using Facebook July 14, 2013

    New Delhi: Delhi police have busted a credit card scam involving ICICI bank. The main accused was tracked down using his Facebook location and pictures. The con man, Raju Tevar, had cheated ICICI Bank customers by obtaining their credit card data. Investigators found his photograph on his account on Facebook, a...
  • Rupee closes in on record lows; RBI fears cap losses June 24, 2013

    Mumbai: The rupee fell to near record lows on Monday as foreign investors continue to sell debt and stocks as part of an exit from emerging markets, with only fears of the RBI intervention arresting a further drop. The rupee is likely to continue hovering around a record low of 59.9850...
  • Naveen distributes free mobile phone sets among farmers June 19, 2013

    Bhubaneswar: Odisha Chief Minister Naveen Patnaik on Tuesday distributed 5,000 mobile phone sets among farmers while launching the scheme. "The farmers can access the market information related to agriculture through the mobile phones," Patnaik said, adding that they would get voice calls and SMS in Odia language. Inaugurating the Digital...
  • US: Global $200 million credit card hacking ring busted June 6, 2013

    New York: Eleven people in the United States, the UK and Vietnam have been arrested and accused of running a $200 million worldwide credit card fraud ring, US and UK law enforcement officials said on Wednesday. "One of the world's major facilitation networks for online card fraud has been dismantled by...
  • AP: Three members of white collar criminal gang arrested May 22, 2013

    Hyderabad: Three members of an inter-state white collar criminal gang who allegedly indulged in fraudulent transactions worth over Rs 3 crore from across the country, including the national capital, were arrested on Tuesday, the police said. The accused, including Anshul Thapar from Ludhiana, K Govardhan from Chitoor in Andhra Pradesh...
  • West Bengal government achieves 7.6 per cent GDP growth May 17, 2013

    Kolkata: The West Bengal government achieved 7.6 per cent growth in GDP compared to the national average of 4.96 per cent during the last financial year. In industry, the growth rate was 6.24 per cent against the national average of 3.12 per cent, Finance Minister Amit Mitra claimed while releasing...
  • Delhi: Four arrested for using 57 fake credit cards May 3, 2013

    New Delhi: Four people were arrested for using 57 fake credit cards to dupe a major bank of over Rs 40 lakh to support their lavish lifestyles, police said on Thursday. Mayank Jain, 28, Roshan Dass, 27, Kuldeep Srivastava, 23 and Ashok Ganwani,35 got the cards issued from Citibank on...
  • RBI credit policy today, bankers expect rate cut March 19, 2013

    Mumbai: The Reserve Bank of India's (RBI) credit policy will be announced on Tuesday with bankers wanting the central bank to cut repo rates which could make home and car loans cheaper. The repo rate is the rate at which banks borrow from the reserve bank when they are in need...
  • RBI likely to cut key policy rates by 0.25 pc: Experts March 17, 2013

    New Delhi: Taking cue from declining core inflation levels and sluggish growth trends, the Reserve Bank of India is likely to cut key policy rates by 0.25 per cent in its mid-quarter review on March 19, global investment banking majors have said. Even if RBI cuts rates on Tuesday, the tone...
  • US: Website publishes crucial personal details of Romney, Tiger Woods, others March 16, 2013

    A website in the US has posted crucial personal details of celebrities like Mitt Romney and Tiger Woods, which include their financial detail, credit card debt and mortgage information. ...