The Reserve Bank of India (RBI) on Monday issued a clarification on Prepaid Payment Instruments (PPIs) such as wallets and prepaid cards, stating that they cannot offer credit lines through these instruments, media reports said.
Reserve Bank has asked banks as well as small finance banks (SFBs) to continue lending to the NBFCs for the purpose of on-lending to certain priority sectors.
Kolkata/IBNS: Fintech companies can bring efficient onboarding of customers and offer seamless collection support at a negligible cost at the last mile touchpoints, stated Ketan Doshi, Managing Director of PayPoint India, at the recently held 8th ASSOCHAM National E-Summit on the NBFC sector.
Mumbai/IBNS: In the bid to improve the liquidity position of the NBFCs and HFCs amid the sagging economic situation triggered by Covid-19 pandemic, the government has approved a special scheme to prevent potential systemic risk in the financial sector, the Reserve Bank said on Wednesday.
Fixed deposits have been a top pick with investors for decades, and for good reason too. Their high degree of safety and promise of returns makes them an option you can truly count on. But it is important to know that while FD interest rates are not linked to the market, they are sensitive to fluctuations in the repo rate. For instance, in 2018 the RBI revised the repo rate thrice, and hiked it twice to bring it to the current 6.5%. The RBI does so primarily to curb inflation, in order to maintain liquidity in the economy.
Fixed deposits in todayâ€™s day and age has become the most preferred investment option. Being a safe investment avenue, fixed deposit (FD) also have a higher rate of interest compared to a savings account. Although savings is a traditional method to park your hard earned money, it still does not prove to be that beneficial. Rather, the returns earned on a savings account are too less compared to fixed deposits as well as are gained late. This is why you should park your funds in a fixed deposit.
Being a renowned term, many people are still unaware of the significance and the meaning of EMI. Equated Monthly Instalment (EMI) is a term which each individual gets associated to when he/she plans to take a loan or issue a credit card. Although, the word might sound a little one but has a broader aspect when it comes to practical life. However, if not known right, the term can turn into a nightmare.
Mumbai, Jun 18 (IBNS): To ease the process of registration of new Non Banking Financial Companies (NBFCs),the Reserve Bank of India (RBI) , on Friday, simplified the application form and revised the list of documents to be submitted.