Debit Cards are gaining lot of popularity post economic crisis. We have been just a while ago informed by ICICI Bank about a special offer beginning tomorrow.
Now, if you use your ICICI Bank Debit Card for just 5 non-fuel purchases in a month
Consumer Demand Credit Report Now
We have been alerted by Banking Sources that the Reserve Bank of India via notification – DBOD.No.DL.BC. 138/20.16.042/2008-09 has granted access to Consumer Credit Report which banks obtain from CIBIL at a nominal charge of Rs 50 Max.
The RBI Notification said,
the provisions of sub section (1) of Section 21 of the Credit Information
Appeal against Bank for Not Clearing CIBIL Entry
CIBIL is a great initiative, but it is not uncommon to see names of borrowers who have cleared all their dues in the CIBIL database. Here is a case study of a winner.
Mr. Bijay Kumar Dash applied for a Housing Loan and was turned down due to his name appearing in the CIBIL defaulters list. Mr.
Experian + EquiFax + Highmark Credit Rating Agencies in India
The RBI has granted license to establish 3 more credit rating agencies on the lines of CIBIL. Global credit rating provider Experian and Equifax along with a startup – Highmark have been granted licenses to operate in India.
These rating agencies will rate the credit worthiness of entities
Read moreExperian + EquiFax + Highmark Credit Rating Agencies in India
Singapore Airlines Visa Platinum Credit Card
ICICI Bank has partnered with Singapore Airlines to launch the “ICICI Bank Singapore Airlines Visa Platinum Credit Card“
The features of the card, having an annual fee of Rs
India Loses 2.2 mn Credit Cards in 9 Months
The latest data released by RBI suggest that the number of Credit Cards in India havedeclined by 2,2mn. In April 2008, there were 28.3 mn credit cards and in Dec-08, the number has fallen to 26.1mn.
Reasons for Decline in Credit Cards:
The main reason for negative Growth in Credit Cards is the Global Crisis as Banks turned extremely