Credit Cards News & Advice from rupeetimes.com
Credit Cards News & Advice from rupeetimes.com

• Credit card industry faces an eight year low growth rate
  The credit card issuers have been facing a crunch in their business and this can now be reflected in the industry reports that claim a substantial amount of decline in the growth rate of credit card industry to be witnessed in the coming months.For the last few years, the industry had been observing...
• Card issuers reduce their sales
  Banks and credit card issuers are not only glowing slow in their card business but also reducing the sale of new cards. From the past six months, private lenders have reduced their direct selling agents by almost 25%. These agents were given the job of selling credit cards.A senior officer from a le...
• CitiBank steps to protect your card against fraud
  Foreign lender, Citibank has introduced a service whereby cardholders can protect their card against any misuse that is liable to happen in case the credit card is lost or stolen.The bank launches this scheme with cover plans and the annual fee charged to avail this facility is Rs 995 and Rs 1,295 f...
• Security agencies give ATMs cards to guards
  The security agencies across the country are distributing ATM cards to security guards who guard ATM machines but do not posses one. Generally these guards get their salaries through field officer or middle-man who takes a huge cut in the between.The practice of giving ATM cards would mean a lot the...
• RBI declares refinance facility to support exporters
  In order to provide liquidity support to the exporters, RBI has announced lines of credit worth Rs 5, 000 crore to the Export-Import Bank of India (Exim Bank) to further on-lend to the export sector.The tight position of credit market has also impacted Exim Bank that is facing difficulties in raisin...
• Subbarao: Economic growth to slow down
  RBI's Governor, D Subbarao feels that India's economic growth for the next financial session would be less than the present projection of 7.5% to 8%.On a meeting with West Bengal's chief minister, Buddhadeb Bhattacharya the governor said, "Year 2008-09 will be a difficult year and 2009-10 will also...
• Credit cardholders get policies with terror cover
  Credit cards of victims killed in the terror attacks of Mumbai may be cross checked by their relatives because they may be eligible for compensation if the card holder had taken a personal accident cover. Insurance policies that cover "death due to any cause" also include terror attacks and insuranc...
• Rs 2.5 lakh robbed from UCO Bank
  On December 8th, two armed men looted Rs 2.5 lakh from UCO Bank's branch located in the market place of Shiekh Sarai-I, South Delhi.The incident takes place exactly a month after the Hauz Khas branch of UCO Bank was robbed in the same manner.A peon, Jitender Kumar at the branch was critically injure...
• RBI cuts short-term policy rates by 100 basis points
  On December 6th, the Reserve Bank of India announced a set of monetary measures whereby both its short-term policy rates -repo rate and reverse repo rate - were cut by 100 basis points.Repo rate, the short term lending rate at which RBI injects liquidity into the system has been cut to 6.5% from 7.5...
• SBI Card to restructure its credit card portfolio
  SBI Card, a joint venture of State Bank of India and GE Money is likely to announce a financial package for its customers who have defaulted due to the crisis.Through this move, the company proposes to support those clients who have been loyal in their repayment procedure but due to the financial tu...