While shopping during Independence Day and the festive season, spend smartly and responsibly. These cards have also been arranged according to the least annual fees.
Leading NBFCs continue to focus on conventional lending products such as consumer durable finance and personal loans, experts say
For the next five years, CLSA expects credit card spends to grow at a compound annual growth rate (CAGR) of 19 percent, down from the 24 percent CAGR in the past five years. The stagnation will come from companies tapping customers from smaller towns and cities where per capita consumption is lower.
Among the credit cards aimed at the traveller are those that have tie-ups with travel portals. These can be used to plan your tickets and hotel stays, and often offer benefits like gift vouchers and discounts.
Industry experts however, believe that it may be difficult for Slice to get RBI approval as the regulator may be selective in giving the green signal to NBFCs to issue credit cards.
Neobank Stashfin has launched a new credit card, called #Liveboundless, for women. Lifetime free card, it charges annual interest rates between 11-60% depending on your credit behavoir. A review
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The transmission of policy rate cuts during pandemic years missed credit cards completely, with interest rates rising for this category.
The RBI said that in respect of transactions where cardholders decide to enter the card details manually at the time of undertaking the transaction has not been implemented by the industry stakeholders.
Stolen credit and debit card details stored on shopping portals can result in misuse of cards. That changes when India implements card tokenisation on July 1
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RBI has granted an extension for three provisions in the norms. Meanwhile the norms that reduced the role of card issuing fintechs have not received any extension.
Affluent spenders using credit cards must have a disciplined approach. They must avoid overspending to achieve milestones, bonus rewards, and waiver on annual renewal fees.
The highest adoption of contactless payments was observed in sectors like Quick Service Restaurants, pharmacies, food, grocery, etc. across both credit and debit cards.
To boost online transactions in the economy, the Reserve Bank of India has allowed banks to link credit cards with the Unified Payment Interface.
The payments industry is awaiting clarification on how the pricing of such an arrangement will work. From the look of it, many see this as advantageous for RuPay.
Until now customers could only link their bank accounts through debit cards to UPI.
Bank of Baroda credit cards issued have grown from 0.12 million in March 2018 to over 1.1 million in March 2022.
The company will also launch three or four more NCD issues this fiscal, each in the Rs 300-400 crore range, George A. Muthoot said.
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The likelihood of non-banking financial companies (NBFCs) entering the credit card market will not lead to an incremental business disruption at Axis Bank, says Sanjeev Moghe, president and head, cards and payments at Axis Bank
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The plan comes on the heels of RBI’s directive that NBFCs can offer credit cards if they receive regulatory permission and have a certificate of registration.
Credit cards and instalment-based credit schemes such as Buy-now, Pay-later are the most commonly used credit products by the underserved consumers
Don’t get into hacks like revolving credit card usage, and maintaining multiple cards, to get longer interest-free periods that many influencers promote these days.