CREDIT

  • Watch: Barack Obama talks about his credit card getting declined October 18, 2014

    Recently, US President Barack Obama's credit card was declined while he was out for dinner at a restaurant in the Big Apple with his wife Michelle Obama. Speaking to workers at the Consumer Financial Protection Bureau Obama recounts what happened. ...
  • Barack Obama's under-used credit card declined in New York cafe October 18, 2014

    Washington: The Secret Service is charged with protecting the president, but who's watching his wallet? When his credit card was declined last month while dining in New York, President Barack Obama wondered if he had become a victim of identity theft. "It turned out, I guess I don't use it enough," Obama...
  • Your medical record is worth more to hackers than your credit card September 28, 2014

    New York: Your medical information is worth 10 times more than your credit card number on the black market. Last month, the FBI warned healthcare providers to guard against cyber attacks after one of the largest US hospital operators, Community Health Systems Inc, said Chinese hackers had broken into its computer...
  • RBI eases norms for issuance of equity shares under FDI September 17, 2014

    Mumbai: Easing foreign direct investment (FDI) norms, Reserve Bank has allowed companies to issue equity shares to a resident outside India against any type of fund subject to certain conditions. RBI reviewed the extant guidelines for issue of shares or convertible debentures under the automatic route and has permitted issue of...
  • Credit card fraud: Court asks police to file FIR against ICICI Bank CEO August 22, 2014

    Lucknow: A local court has directed the police to lodge an FIR against ICICI Bank CEO Chanda Kochhar and head of card operations Vinay Valse in connection with allegations of cheating and fraud over online shopping through credit card. Chief Judicial Magistrate, Lucknow, Sunil Kumar pronounced the order on Thursday on...
  • Arun Jaitley nudges RBI to cut rate to boost growth August 10, 2014

    New Delhi: Nudging the Reserve Bank of India to cut interest rates to boost growth, Finance Minister Arun Jaitley on Sunday said that he had already made his mind clear and hoped the central bank will take decision after taking into account various factors. The RBI had maintained statusquo on interest...
  • RBI keeps repo rate unchanged, cuts SLR for banks by 0.5 pc August 5, 2014

    Mumbai: The Reserve Bank of India (RBI) kept its key policy repo rate unchanged on Tuesday as widely expected, but warned about inflationary risks should a shortfall in monsoon rains spark a surge in food prices. The RBI also lowered banks' minimum bond holding requirements, known as the statutory liquidity ratio...
  • RBI to unveil credit policy review, interest rate may remain unchanged August 5, 2014

    The Reserve Bank of India will come out with its credit policy review on Tuesday. It is likely to maintain status quo on interest rate in its bimonthly monetary policy review. The central bank may prepare ground for an easier rate regime by introducing some liquidity enhancing measures. In spite...
  • Beware! New virus steals your debit, credit card information July 28, 2014

    New Delhi: Debit and credit card owners in the country have been alerted by cyber security sleuths against the damaging activities of a virus which attacks Point of Sale (POS) business counters to steal confidential data like card number and passwords. The virus, of the deadly Trojan/Botnet family, is prowling in...
  • Virus stealing debit, credit card information prowling online portals July 27, 2014

    New Delhi: Debit and credit card owners in the country have been alerted by cyber security sleuths against the damaging activities of a virus which attacks Point of Sale (POS) business counters to steal confidential data like card number and passwords. The virus, of the deadly Trojan/Botnet family, is prowling in...
  • Visa launches new Visa Checkout service to make online payments simpler July 17, 2014

    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 creditrating 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 64yearold 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 yearend. 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 oneweek low on Tuesday, extending losses for a third session, on monthend 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 staterun 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...