News | Cards

Punjab National bank has launched credit cards against Fixed Deposits.

MAS Team 20 January 2023
0
SHARE

Punjab National Bank (PNB) became the first public sector bank which offered Credit card against fixed deposits (FDs).

more

No Charge for RuPay Credit Card Use on UPI for Transaction up to Rs2,000: NPCI

MAS Team 08 October 2022
1
SHARE

There will be no charge for RuPay credit card use on Unified Payments Interface (UPI) for transactions up to Rs 2,000 in line with the RBI direction,...

more

Rent Paid Through ICICI Credit Card to Attract 1% Fee

MAS Team 24 September 2022
0
SHARE

“Dear Customer, starting 20 October 2022, all transactions on your ICICI Bank Credit Card towards rent payment will be charged a 1% fee.

more

New credit card closure rules effective from 1st July

MAS Team 23 April 2022
0
SHARE

The Reserve Bank of India (RBI) has issued new rules pertaining to credit and debit card issuance for the card issuers. Among the changes were the...

more

BOB Financial, Mastercard launch QR on card solution for accepting payments

MAS Team 24 April 2021
0
SHARE

Mastercard and BOB Financial Solutions ltd have launched ConQR - a Mastercard QR on Card solution.

more

Mastercard introduces contactless payment on SBI Card App

MAS Team 27 November 2020
0
SHARE

SBI Card Mastercard customers now need not carry physical cards and can pay using tap-and-go in a contactless manner.

more

Request for Credit Cards cross pre-Covid levels in October

MAS Team 27 November 2020
1
SHARE

Demand for new credit cards has fully recovered and monthly applications in October have exceeded levels in the same month of the previous year,...

more

RuPay card users can enjoy up to 65% discount on purchases during offer period

MAS Team 29 October 2020
0
SHARE

The National Payments Corporation of India (NPCI) unveiled discounts up to 65% on purchase of various branded items using RuPay card.

more

Use RuPay Card, get up to Rs 16,000 cashback for international usage

MAS Team 04 January 2020
1
SHARE

The National Payments Corporation of India (NPCI) has rolled out a substantial cashback incentive for RuPay International Card users.

more

Canara Bank fails to recover dues from credit card customer

MAS Team 10 November 2018
0
SHARE

Canara Bank has failed to prove that the person had applied for the credit card in the first place

more
  Loading...
  Loading...

To continue


Please
Sign Up or Sign In
with

Email

We are listening!

Solve the equation and enter in the Captcha field.

Changes in Our Business Model
 
 
25th Sept 2020
 
Greetings from Moneylife Advisory Services
 
Between financial years 2019-21, SEBI has come up with extensive changes to investor advisor regulations. On Sep 23, 2020, SEBI had issued new additional guidelines. This comes just two months after extensive changes announced in July 2020. Earlier, in December 2019 there was an ad hoc circular
 
As a result of these changes, IAs, cannot accept fees through credit cards, will have to sign a 26-clause investor agreement, have to maintain physical record written & signed by client, telephone recording, emails, SMS messages and any other legally verifiable record for five years. IAs were already asked to record the suitability and rationale for every piece of advice given, sign them and store them for five years.
 
While these extensive and frequent changes, designed to strengthen the conduct of IAs are well-meaning, these have sharply increased compliance efforts and cost. We, being online advisors, find many of changes harder to implement, compared to advisors working in the physical space. We will have to have an army of advisors, administrative and tech staff to be compliant. If we do this, we will have to divert money to these areas and the cost of our service will double. We want to remain the least-cost service in the market to benefit more and more people. In the circumstances, we are forced to change our business model from “advisory” to “research”. This will mean the following:
 
What remains the same:
  • Recommendations on insurance, investment and Lion stocks, will continue as a part of the MAS premium subscription. Our strength has always been research and this will remain available to you through our recommendations.
  • The magazine and all textual content will remain as part of the service
  • We will have to suspend the restructuring tool.
 
What changes:
  • The interactions in Ask / Handholding will offer investment advice but not specific to your situation. It will offer information on investment products and also clarify your doubts about various financial products. It will be a forum for information, not for advice. This will be implemented with immediate effect and our guidelines in Ask, reflect this now.
 
Over the next few weeks our site and our communication to you will reflect these and other additional changes.
 
We feel this will not affect you much in terms of what really matters in investing: knowing what to buy and when to buy. This is our edge and it will still be available to you.
 
img
Debashis Basu
Founder