Banking

Amazon & Paytm have started physical KYC verification on their own

Amazon and Paytm are setting up physical infrastructure on their own to provide know-your-customer (KYC) services for users

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Banking

Bank of Baroda increases minimum balance limit for savings accounts

The bank for its metro, urban and semi-urban branches has increased the minimum quarterly average balance requirement for its savings account

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Consumer Issues

RBI extends consumer protection to transactions of users of authorised prepaid payment instruments

The Reserve Bank of India (RBI) has extended its customer protection framework in cases of payment frauds or unauthorised transactions to the users...

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Fixed Income

PPF and Sukanya Samriddhi interest rates unchanged

The interest rate on 1-year post office time deposits (POTD), a small savings scheme, has been increased by 10 basis points (bps) for the...

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Banking

Complaints made to banking ombudsman from customers increase 25% in FY2017-18

The number of complaints registered at banking ombudsman offices have seen a 25% increase in the fiscal year 2018

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Real Estate

MahaRERA refuses to entertain ‘economic slowdown’ argument from Neelkamal Realtors

The Maharashtra Real Estate Regulatory Authority has refused to entertain realty developer Neelkamal Realtors’ argument of general economic...

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Retirement

Subscribers of EPFO may be allowed to increase investments in equity market

Subscribers of the retirement fund body EPFO (Employees' Provident Fund Organisation) may get an option in the New Year to invest more of their...

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Loans

Delinquency rates in small bank loans found to be low by a study by Transunion Cibil

Credit bureaus appear to be helping banks take cautious lending decisions where loans are not backed by collaterals

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Consumer Issues

Passenger Service Fee in Indian airports raised, making air travel a little more expensive

Flying is about to get more expensive in India as the government has decided to raise the Passenger Service Fee (PSF) to Rs170 from Rs135 to meet the...

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Tax

I-T department allows manual filing of Form 13 in special cases

The income tax department allowed manual filing of form by resident and NRI (non-resident Indian) taxpayers wanting to apply for deduction of taxes...

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