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Ultimate guide to Consumer CIBIL Score

CIBIL score popularity is on a rise these days. This is because it has become one of the most important tools for measuring creditworthiness. The higher your CIBIL score, the better financial products and services you will be eligible for. A high CIBIL score can help you in getting approval for loans quickly and at […]

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Bank Ombudsman Scheme of RBI – A Definitive Guide

RBI recently introduced a new resolution mechanism for consumer complaints regarding services provided by entities regulated by the Reserve Bank of India in an expedient and cost-effective manner. The scheme is called Reserve Bank – Integrated Ombudsman Scheme. Here are the key highlights of the scheme: Centralised Receipt and Processing Centre The Regulation provides for […]

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How to identify genuine or real loan apps and avoid fake ones

Covid 19 has had a significant impact on our lives and businesses, with many people in the need for “instant money”. Loan sharks are now lurking in your smartphones disguised as seemingly legitimate money-lending and borrowing apps. It is estimated that Covid 19 has resulted in over 10 crore people losing their jobs and small […]

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Can you get a personal loan with low CIBIL score?

Many lenders will look at your CIBIL score, as well as other qualifying criteria, when assessing your personal loan application. Can you obtain a loan if your CIBIL rating is bad or low? The Credit Information Bureau (India) Limited is what the name CIBIL means. Other than TransUnion CIBIL (its formal name), there are other […]

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Want to file a complaint to RBI against bank recovery agents?

RBI is the regulator of the banking and financial services sector in India. RBI is authorized to investigate allegations of unfair trade practices, deficiency in banking services and deficiency in service with respect to loans and advances, including those related to bank charges and other service charges levied by banks on customers. If you want […]

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How to avoid paying high interest rate on your Credit Card

Cashless transactions today are becoming more and more popular since safer, speedier and less cumbersome than transactions involving cash. However, cashless transactions, including the use of credit-cards often create a situation of overspending which in-turn leads to debts. Getting out of these can be time-consuming and expensive. You will have to pay interest rates in […]

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How to benefit from interest free period on credit card

‘Interest free period’ or ‘grace period’ on your credit card represents the timeframe between the bill cycle’s end to the due date of payment. Grace periods may vary from bank to bank and based on the type of credit-card, but usually it ranges from 20 to 30 days. Grace period is an incentive that is […]

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RBI guidelines on recovery agents engaged by banks

The lenders, in attempt to recover the dues from the borrowers, often employ recovery agents with an aim to threaten and harass the borrower in repaying the dues. This has led to a serious rise in the number of disputes and litigation against the banks and has seriously hampered the reputation of the banking sector […]

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