Banking

The pandemic has not only knocked off revenues of MSMEs' but also disturbed their hopes of survival. In a bid to rescue MSMEs and improve their cash flows, Razorpay, the leading full-stack financial solutions company, today launched a collateral free line of credit, 'Cash Advance' for businesses. With Cash Advance, MSMEs can borrow working capital with a credit limit...

SBI MF will stop accepting lump sum investments into SBI Small Cap Fund. The fund house will only accept systematic investment plans (SIPs) that up to Rs 5,000 per investor. The decision comes after a sharp rally in small cap universe since June.SBI Small Cap Fund had stopped accepting lumpsum investments earlier from October 2015 to March 2020....

The government and its bureaucrats need to be frightened out of their complacency and a stimulus is critical to prevent an "atrophied" economy, former RBI chief Raghuram Rajan has said in a post reacting to what he calls India's alarming -23.9 per cent quarterly GDP. Without relief measures, the growth potential of the economy would be "seriously damaged", he...

Central Government initiative to raise the digital payment procedure, add relief for the users. Banks have asked to refund charges collected for UPI transition, before January 1. From now onwards no bank can imposed tax on the electronic payment procedure. The electronics modes of transactions include 1) Debit card powered by RuPay, 2) Unified Payment Interface (UPI), 3)...

Despite the renewed push for digital due to the Covid-19 pandemic, most Indian mobile banking apps, except ICICIs iMobile app, are behind the curve on functionality, says a new report from market research firm Forrester.About 70 per cent of Indian online adults with a bank account do their banking on a mobile app or website using their smartphone,...

Markets regulator Sebi has ordered attachment of bank and demat accounts of two dozen defaulters in the matters of three companies -- Mass Infra Realty, Skymarg Agro Industries India and Life Care Real Developers -- to recover dues totalling nearly Rs 40 crore. The defaulters are 11 directors of Mass Infra Realty, five directors of Skymarg Agro, Life Care...

Banks are free to restructure loans but they cannot penalise honest borrowers by charging interest on deferred EMI payments under the moratorium scheme during the COVID-19 pandemic, a petitioner opposing the move said in the Supreme Court on Wednesday. A bench headed by Justice Ashok Bhushan, which commenced final hearing on a batch of pleas raising the issue of...

Razorpay, the leading full stack financial solutions company, has been named to the third annual Fintech 250 by CB Insights. The Fintech 250 is a prestigious list of emerging private companies working on groundbreaking financial technology. Razorpay's growth has been uphill, particularly in the last two years. With a healthy growth rate of 35% month-on-month, Razorpay has been seeing...

For those who have just kick-started their careers, saving money can be a bit of a challenge. With financial freedom and the ability to spend, young working professionals usually are left with barely any savings at the end of the month. Inculcating the habit of saving is important and should be foll owed with discipline. One should ideally...

The market valuation of six of the top 10 most valued firms zoomed by Rs 1,06,523.84 crore last week, with ICICI Bank and Kotak Mahindra Bank leading the pack. During the last week, the BSE benchmark Sensex had gained 1,032.59 points or 2.68 per cent. Of these 10 most valued companies in terms of market...