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The National Payments Corporation of India (NPCI) is focusing on expanding credit products on the Unified Payments Interface (UPI) network, aiming to drive the next phase of growth in India’s retail digital payments.After RuPay credit cards and credit lines on UPI, the next major feature will allow consumers to convert UPI payments into EMIs.Sources familiar…
Public sector banks (PSBs) have registered their strongest advance growth since 2010, surpassing private lenders for the first time in over a decade. According to a Systematix Group report cited by news agency ANI, PSBs reported 12.2% year-on-year growth in advances in FY25, compared to 9.5% by private sector banks (PVBs).The report noted that PSBs…
NEW DELHI: Japanese credit rating agency Rating and Investment Information (R&I) on Friday upgraded India’s long-term sovereign credit rating to ‘BBB+’ from ‘BBB’ and retained the “stable” outlook, citing growth prospects, progress on fiscal consolidation, and reforms undertaken by govt. This is the third upgrade by a sovereign credit rating agency this year, following S&P’s…
Federal Reserve policy adjustments influence consumer costs for various financial products. (AI image) How does the US Federal Reserve’s decision to cut the benchmark rate by 25 basis points to the 4-4.25% range impact the lives of common people in America? The Federal Reserve establishes the federal funds rate, which governs inter-bank lending practices. Although…
Actress Shilpa Shirodkar known for movies like ‘Hum’, Gopi Kishan’, ‘Aankhen’, stepped away from the spotlight for 13 years to focus on her family. She married Aparesh Ranjit and lived in UK after leaving her flourishing film career. While people think it’s a sacrifice made by her, in a recent interview, she has praised her…
Insurers will no longer be able to claim input tax credit (ITC) on Goods and Services Tax (GST) paid on commissions and brokerage for individual health and life insurance policies from September 22, the Central Board of Indirect Taxes and Customs (CBIC) clarified on Tuesday. The move comes ahead of the implementation of the new…
Bihar Chief Minister Nitish Kumar The Bihar government has announced that education loans provided under the Student Credit Card (SCC) scheme will now be interest-free for all students. This decision, shared by Chief Minister Nitish Kumar via his official X handle @NitishKumar, aims to reduce the financial burden on aspiring students in the state.In addition…
NEW DELHI: Bihar chief minister Nitish Kumar on Tuesday announced that education loans provided under the state’s Student Credit Card Scheme will now be completely “interest-free for all applicants.” The move comes months ahead of the Bihar assembly elections.Sharing the post on X, the Bihar CM said that the decision would “boost students’ morale” and…
