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In a bid to ease the lack of liquidity that borrowers might face amid the nationwide lockdown to contain the spread of the covid-19 pandemic, the Reserve Bank of India (RBI) on 27 March allowed banks and financial institutions to offer a three-month moratorium on term loans and credit card bills.…

To offer further respite to borrowers, the Reserve Bank of India (RBI) on 22 May extended the moratorium on repayment of term loans by three months till 31 August 2020. The central bank emphasized that the moratorium will have no adverse impact on the credit score of borrowers opting for the…

Credit limit, if managed well, is one factor that can be weighed and utilised to increase your credit score. It is the maximum credit that you are eligible to avail at any point from a lender. To get an easy reference, you can look at your credit card statement which includes your maximum credit…

Traditionally, there was a lot of stigmas associated with being a borrower. Today, borrowing is not just seen as a tool to create assets, also a way to dignified living in times of crisis. The options of availing credit at the click of a button too have emerged.But the journey of a borrower is…

Credit sentiment, or the perception towards purchasing things on credit, is slowly evolving in India. The traditional habit of Indians buying things with ready or available money is changing and many individuals are now opting for credit-led choices to meet their day-to-day expenses made via the…

The number of credit cards issued by banks also rose rapidly to 10.61 crore as of September 2024 from 9.3 crore in September 2023, 7.36 crore in March 2022 and 6.20 crore in March 2021, RBI data shows. Credit card repayment delinquencies are on the rise mirroring the increasing stress and…

Your twenties is a pivotal time in life – a period of growth, exploration, and laying the groundwork for your future. Amidst the whirlwind of excitement and newfound independence, one often overlooked, yet profoundly significant aspect of adulthood is building your credit history. Establishing a…