CREDIT

  • CBI registers a case against former TDP minister Yesterday

    New Delhi: CBI has filed a case against former TDP Minister Kothapalli Subbarayudu of Andhra Pradesh for allegedly cheating State Bank of India for Rs 5.73 crore. CBI sources said a case has been registered against him for allegedly availing loan facilities for 23 fish banks on the basis of...
  • Visa to curb credit card fraud with new location-tracking software February 14, 2015

    New York: Those days of calling your bank to let them know that, yes, you really are in Thailand, and yes, you really did use your credit card to buy $200 in sarongs, may be coming to an end. The payment processing company Visa will roll out a new feature this...
  • It takes only four credit card transactions to identify you February 3, 2015

    Washington: MIT scientists, including one of Indian-origin, have examined anonymous credit card data and found that most individuals can be identified using just the dates and locations of four purchases. Researchers at Massachusetts Institute of Technology found that just four fairly vague pieces of information - the dates and locations of...
  • American Express says to cut more than 4,000 jobs January 22, 2015

    Washington: More than 4,000 employees of American Express Co will lose their jobs over the next year as part of a restructuring program at the credit card company, a spokeswoman said. The planned redundancies contributed to a restructuring charge taken by the world's largest credit card issuer during the fourth quarter,...
  • ICICI Bank launches India's first contactless, NFC-enabled debit, credit cards January 7, 2015

    Mumbai: ICICI Bank launched the country's first contactless debit and credit cards that use the near-field communication technology, enabling one to make payments by just waving the card near merchant terminals instead of swiping the same. The near field communication (NFC) technology provides customers improved convenience of speed and security over...
  • IIT Kharagpur student gets Rs 1.5 crore pay package December 2, 2014

    Kolkata: In one of the fattest pay package offered to an IITian ever in campus placements, a student of Indian Institute of Technology Kharagpur has been offered an annual salary of over Rs 1.5 crore. IIT Kharagpur officials said the salary package was among the 163 offers made by 27 visiting...
  • Full statement: RBI keeps key rates unchanged in its bi-monthly monetary policy December 2, 2014

    Mumbai: On the basis of an assessment of the current and evolving macroeconomic situation, RBI has kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 8.0 per cent. Monetary and Liquidity Measures On the basis of an assessment of the current and evolving macroeconomic situation, it has been...
  • RBI keeps interest rates unchanged at 8.0 per cent, mantains focus on containing inflation December 2, 2014

    Mumbai: As expected, the Reserve Bank of India has kept the interest rates unchanged at 8.0 per cent on Tuesday, staying focused on containing inflation while adopting a more dovish tone in response to the government's call for help to revive economic growth. RBI said that on the basis of an...
  • 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...