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In its Annual Credit Policy on Tuesday, the Reserve Bank of India (RBI) announced a cut in repo rate — the rate at which the RBI lends short-term funds to banks — and reverse repo rate — the rate at which banks park surplus funds with the RBI — by 25 basis points each (i.e., 0.25 % [...]

Banks have changed the mandatory minimum savings account balance amount from time to time. A rise in the amount can be a cruel blow to many account holders in these tough times. There is a financial implication of the change as it would end up blocking a larger amount of funds for account holders. While [...]

Interest Rate The first thing to look for in a credit card is the interest rate. It is very important that you select a comparatively low interest rate card as you will not like to default on your credit card payments. So with a low interest rate card, even if you miss your payments you [...]

Continuous changes are taking place in the financial world. But in several of the situations there is not adequate understanding about the manner in which the changes will actually affect an individual’s finances. This is why it becomes important for an individual to read the fine print to understand the exact implications of the changes. [...]

Most people buy their cars using finance, and that makes auto loan an essential part of the entire buying process. In such a situation, a buyer has to take due care of the finer points of the loan, including the fact that the loan is selected from the right institution. Before selecting a loan provider, [...]