https://thenfapost.com News, Facts and Analysis on Startup, Technology & Business Fri, 11 Aug 2023 13:34:35 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.2 The NFA Post News, Facts and Analysis on Startup, Technology & Business clean https://thenfapost.com/2023/08/11/credit-card-default-increases-by-1-94-to-rs-4072-crore-in-fy23-24/ Fri, 11 Aug 2023 13:34:35 +0000 https://thenfapost.com/?p=292995 All cooperative banks are required to comply with the guidelines issued by the Reserve Bank of India (RBI) from time to time, he said New Delhi, NFAPost: Credit card default rose to Rs 4,072 crore or 1.94 per cent at the end of March 2023, Parliament was informed. “As per the inputs received from RBI, […]]]> https://thenfapost.com/2023/07/17/unsecured-loan-portfolios-growth-highest-credit-card-npas-shoot-up-report/ Mon, 17 Jul 2023 01:30:32 +0000 https://thenfapost.com/?p=285223 From a loan growth perspective, outstanding balances on credit cards grew 34% in the year to March 2023, and personal loans were up 29% Mumbai, NFAPost: Credit card non-performing assets rose 0.66% to 2.94% as of March 2023, a credit information company said in a report. The report, which comes amid heightened concerns on the […]]]> https://thenfapost.com/2023/07/06/rbi-issues-draft-circular-on-issuance-of-debit-credit-prepaid-cards/ Thu, 06 Jul 2023 02:09:43 +0000 https://thenfapost.com/?p=282530 RBI directive tells debit, credit and prepaid card issuers to give customers more freedom to choose networks New Delhi, NFAPost: The Reserve Bank of India (RBI) has issued a draft circular addressing the arrangements between card networks and card issuers when it comes to the issuance of debit, credit, and prepaid cards. The circular aims […]]]> https://thenfapost.com/2023/06/14/rbi-likely-to-tighten-norms-for-unsecured-lending-portfolios-of-banks/ Wed, 14 Jun 2023 05:50:47 +0000 https://thenfapost.com/?p=275670 Indian banks have been expanding their unsecured lending portfolio as the pandemic-induced stress began easing Mumbai, NFAPost: The Reserve Bank of India (RBI) is looking to tighten scrutiny on the unsecured lending portfolios of banks amid the growing risk of potential defaults, four banking sources told Reuters. Unsecured loans “mostly personal loans and credit cards“ […]]]> https://thenfapost.com/2023/05/19/credit-card-payments-overseas-will-attract-20-tcs-from-july-1/ Fri, 19 May 2023 04:00:24 +0000 https://thenfapost.com/?p=267629 For every $100 you spend abroad using your international credit card, you will need to fork out $120 and then claim it when you file your tax return New Delhi, NFAPost: From July 1, your credit card transactions abroad will get costlier. Not only will you have to pay a higher tax collected at source […]]]> https://thenfapost.com/2023/05/08/au-small-finance-bank-launches-business-cashback-rupay-credit-card/ Mon, 08 May 2023 16:18:32 +0000 https://thenfapost.com/?p=263487 Hyderabad/Jaipur, NFAPost: AU Small Finance Bank has partnered with RuPay to introduce the Business Cashback RuPay credit card, an innovative solution tailored to meet the financial requirements of self-employed customers. This latest offering is aimed at providing a diverse range of benefits to small businesses. The Credit Card was launched in the esteemed presence of […]]]> https://thenfapost.com/2023/03/15/hdfc-bank-flipkart-wholesale-launch-cobranded-card-for-latters-members/ Wed, 15 Mar 2023 14:41:00 +0000 https://thenfapost.com/?p=248431 The product will offer users 5% cashback on Flipkart Wholesale online spending. Members can apply for the card directly at Flipkart Wholesale stores and on its Best Price Flipkart Wholesale app New Delhi, NFAPost: HDFC Bank and Flipkart Wholesale, the omnichannel B2B platform of the Flipkart Group, launched a co-branded credit card exclusively for Flipkart […]]]> https://thenfapost.com/2022/08/01/upi-records-6-billion-transactions-in-july-highest-ever-since-2016/ Mon, 01 Aug 2022 15:01:04 +0000 https://thenfapost.com/?p=188729 UPI crossed 1 billion transactions for the first time in October 2019, almost three years after its launch Mumbai, NFAPost: Unified Payments Interface (UPI) clocked over 6 billion transactions in July: the highest ever by India’s flagship digital payments platform since its inception in 2016, Business Standard reported.. UPI reported 6.28 billion transactions amounting to […]]]> https://thenfapost.com/2022/06/09/apex-bank-allows-credit-cards-to-be-linked-with-upi-platform/ Thu, 09 Jun 2022 17:11:11 +0000 https://thenfapost.com/?p=184718 Mumbai, NFAPost: The Reserve Bank of India allowed credit cards to be linked with the unified payments interface (UPI), which will enable more people to make payments using the popular platform. At present, UPI facilitates transactions by linking savings or current accounts through users’ debit cards. “It is proposed to allow linking of credit cards […]]]> https://thenfapost.com/2022/06/07/dbs-bank-india-launches-first-credit-card-in-partnership-with-bajaj-finance/ Tue, 07 Jun 2022 11:56:57 +0000 https://thenfapost.com/?p=183679 • The co-branded credit card ‘Bajaj Finserv DBS Bank SuperCard’ is designed to de-clutter customers’ wallets and eliminate the need for multiple credit cards • Customers can choose from 6 variants that offer best-in-class rewards, including a welcome bonus of up to Rs. 20,000 Cash Points, and earn Cash Points on card usage that multiply […]]]>