Teacher gives credit card details, duped of Rs 2.0L

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Banks religiously send messages to their customers, warning that they never ask for debit/credit card numbers, grid card values, validity date, CVV, OTP, PIN, password, etc. Despite this, a 38-year-old drawing teacher from New Naroda lost Rs 2.04 lakh after sharing his credit card details with cyber frauds posing as bank employees
.


A complaint in this regard has been filed with Naroda police.

Complainant Maulesh Suthar lives in New Naroda and works as a drawing teacher with a school in Kalapinagar. Suthar had applied to a private bank for a credit card, which he received last month. Some days later, he received a call. Claiming to be the bank’s employee, the caller said she was making a credit card verification call.


The caller asked Suthar for his credit card and CVV numbers. Suthar gave both the caller. The caller then asked for an OTP that Suthar received through text message. Suthar gave that too. Following this, the call was disconnected.

The next day, Suthar received another call asking if he wanted to increase his credit card limit. Suthar agreed and gave details including the credit card number, CVV number and the OTP he had received.


Around 10 days later, Suthar received his credit card bill and was shocked to find that Rs 2.04 lakh had been deducted from his bank account. Realising he had been duped, Suthar filed an application with the cyber cell as well as the Naroda police.

 

Source: sea.operanewsapp.com

Modi government created 1.22 crore new farmer credit cards, farming will benefit big

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Kisan Credit Card: If you want money for farming, then go to the bank and take a loan of up to 3 lakh rupees at just 4% interest rate. No moneylender can give money at such a cheap rate.



new Delhi. Modi government has created 1 crore 22 lakh new Kisan Credit Cards to further promote farming. These cards have been made on the basis of the application made after linking KCC to the Prime Minister Kisan Samman Nidhi Scheme (PM Kisan Samman Nidhi Scheme). It was launched at an event held in Chitrakoot on 24 February. Since then, till August 17, cards have been made for loans to so many farmers. The total loan limit of these cards is Rs 1,02,065 crore. Under KCC, loans up to Rs 3 lakh are available at an interest rate of only 4 percent. The validity of the card is five years.



According to the Union Finance Ministry, a campaign is being launched to give concessional loans to farmers through Kisan Credit Card (KCC-Kisan Credit Card) as part of efforts to save the agricultural sector from the shaking of Kovid-19. These 125 million cards will go a long way in reviving the rural economy and speeding up the development of agriculture sector.

The government had announced the provision or provision of a concessional loan of Rs 2 lakh crore as part of the ‘Self-reliant India Package’, which is expected to benefit 2.5 crore farmers, including fishermen and dairy farmers.

Get such a Kisan Credit Card

>> First go to the official site of PM Kisan Yojana (pmkisan.gov.in). Download the Kisan Credit Card form here.

>> You have to fill this form with the documents of your arable land, details of the crop.

>> It has to be informed that you have not made any other Kisan Credit Card from any other bank or branch.


What documents are needed

>> ID proof like – Voter card, PAN card, Passport, Aadhaar card, Driving license. One of these will also become your address proof.

KCC can be obtained from any Co-operative Bank, Regional Rural Bank (RRB).

This card can also be taken from SBI, BOI and IDBI Bank.

National Payments Corporation of India (NPCI) issues RuPay KCC.


farmers, the farmers get a big discount

, the interest rate for farming is 9%. But the government gives 2 percent subsidy in it. In this way it falls to 7 per cent. But on return on time, you get 3% more discount. In this way, its rate is only 4 percent for honest farmers. No moneylender can lend to anyone at such a cheap rate. So if you need a loan for farming, then go to the bank and get a Kisan Credit Card.

 

Source: hindi.news18.com

NBFCs seek relaxation in the Covid Emergency Credit guarantee scheme

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In the past two months, more than Rs 1.36 lakh crore has been sanctioned under the scheme by banks and NBFCs, while Rs 87,227 crore could be disbursed out of the sanctioned line.
Non-bank lenders have sought relaxation in norms that require borrowers to mandatorily furnish their permanent account numbers (PAN) or audited books for availing a Covid-specific credit lifeline, arguing that the majority of their small- and medium-sized customers either do not file income-tax returns or maintain formal accounts.


In a two-page letter to the National Credit Guarantee Trustee Corporation (NCGTC), the finance industry development council (FIDC) has sought changes to the Covid Emergency Credit Line Guarantee Scheme. At present, the scheme requires PAN as mandatory information, in the absence of which the borrower will be excluded.

Non-bank lenders have proposed that the corporation accept form 60 instead as an alternative document. Banks normally allow borrowers to submit form 60 declaration in the absence of PAN.

These lenders have also argued that the profile of borrowers they lend to do not maintain books of accounts; hence they want the corporation to allow a simple declaration in respect of turnover threshold to participate in the scheme.


“We request you to allow acceptance of Form 60 as an alternative document where the customers do not have PAN, and allow declaration from the borrower stating that the turnover does not breach the limit prescribed in the Operational Guidelines of the Scheme,” the request made to the corporation suggests.

Non-bank lenders have argued that while they have provided moratoriums to their customers, the extended lockdown and the resultant slowdown in economic activities have impacted the customer profile. And it would take quite a while for these customers to return to normalcy and deploy their assets and earn revenue and pay the instalments.


On May 21, the Cabinet had approved funding of up to Rs 3 lakh crore at a concessional rate of 9.25% through the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector. Under the scheme, 100% guarantee coverage is being provided by NCGTC for additional funding to eligible MSMEs and interested micro borrowers in the form of a guaranteed emergency credit line. Since then, non-bank lenders have sent multiple representations to the finance ministry and credit guarantee corporation that aims to benefit small and micro borrowers.

“ECLGS has not been able to percolate to the micro entrepreneurs of the country. The scheme needs to be augmented and if these two conditions can be waived, it will drive deep inclusivity for the liquidity starved entrepreneurs,” said Manish Jaiswal, CEO, Magma Housing Finance.


“The real cash crunch is normally at the bottom end of the supply chain that gets muscled down by corporates through severely stretched receivables. So far, we have been able to offer ECLGS only to a fractional sub-0.5% of our customers; we eagerly await waiver of these two liquidity transmission bottleneck conditions,” Jaiswal said.

In the past two months, more than Rs 1.36 lakh crore has been sanctioned under the scheme by banks and NBFCs, while Rs 87,227 crore could be disbursed out of the sanctioned line.

As per the MSME Ministry, over 60 million unincorporated non-agricultural MSMEs are engaged in various activities, ranging from manufacturing, trading and services in the country. The micro sector enterprises account for 99.4% of the total MSMEs operating in the country.

 

 

Source: sea.operanewsapp.com

Check your Credit Score in a pinch on Paytm App and know how much is your credit

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New Delhi, Business Desk. Online payment app Paytm is now giving users the facility to check the credit score on their app. Here users can view their detailed credit report for free, including information related to active credit card and loan account. Also, users will be able to compare their credit rating with others at any city, state and national level.


A credit score is like your financial report. A credit score is a three-digit number that ranges from 300 to 900. A credit score indicates a person’s eligibility to take a loan. A high credit score means that the person has a good credit history and is responsible for the repayment behavior of the individual. A 750 is considered a good credit score.


The better a person’s credit score, the greater the chances of getting his or her preferred loan deal. Also, the process of loan application of such people is also completed fast. According to Paytm, users can find their credit score through three steps on their app in just one minute. In addition, Paytm is also offering a special credit education section, where anyone can learn tips to increase their credit score.

Check your credit score like this on Paytm


Step 1. Login to the Paytm app and click on the ‘show more’ icon on the home screen.

Step 2. Select the ‘free credit score’ option from this section.

Step 3. Enter your pen card number and date of birth here. If you are a new user, then OTP will be sent for verification.


Through this process, users can immediately check their credit score. No fee is also payable for this. Users can further get their CIBIL credit report by going to the ‘All Loan and Credit Card Accounts’ option.

 

Source: www.jagran.com

Applying for more than one credit card affects the credit score, know how to avoid it

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New Delhi, Business Desk. Does your credit score get affected if you take a new credit card or apply for it? This question is in everyone’s mind. A credit score is a 3-digit number that indicates a person’s credit in banks and other financial institutions. If the credit score is high then the chances of getting a loan or credit card increases. Banks do not like to give loans or credit cards to people with low scores, as they feel that the customer will not be able to pay back. Now know in which cases applying for a new credit card can damage your credit score.


Opening a new credit card account can reduce the average age of all your accounts. Actually your credit age score is 15 percent. It actually measures the experience you used. Apart from this, there are 2 major factors in your credit age. The first is the age of your oldest account and the second is the average age of all your accounts. If you have multiple accounts and have a long history then a new credit card application will have some impact.

Applying for a new credit card will affect your credit score or CIBIL score. For this we talked to Jitendra Solanki, Certified Financial Planner, he said, ‘If you have more than one or two credit cards, then this is your credit score. Will have a negative effect on For example, if your salary is 50 thousand rupees a month and you have taken four credit cards, then it will affect your CIBIL score.


Think of it like this, if your salary is 50 thousand rupees a month and you have a total of 4 lakh rupees including four credit cards and most of them spend the money of the card then how will you pay the money spent on them. It will be very difficult for you.


Solanki said, ‘Loans like credit cards, personal loans are unsecured loans. He said that if someone already has a credit card, it will negatively impact, and if you are taking a first or second card, it will not negatively impact it. Jitendra Solanki said that having more credit cards means that you are maintaining a higher credit score. If the credit limit is more than the monthly income, it will have a wrong effect. He said that one to two credit cards are enough, it should not be more than this.

 

 

Source: www.jagran.com

 

Book Domestic Flight using Kotak Debit & Credit Card and Grab 6% Instant Discount

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BOOKING PERIOD :  Every Monday

PROMO CODE          :  EMTMON

What You Get?




Customers will get 6% instant discount (maximum up to 600 INR) on Kotak Mahindra Bank Credit & Debit Cards on booking domestic flight with us.
How Do You Get It?

  • To avail the offer, users have to book domestic flight of their choice from EaseMyTrip.com.
  • This offer is valid for transaction done through Kotak Mahindra Bank Debit Card & Credit Card only
  • All new and existing customers can avail this offer
  • The offer is valid for bookings made on EaseMyTrip’s website, Mobile site, Android & iOS App





What else do you need to know?

  • Convenience fee will be charged as per the applicability
  • The offer is valid for 1 booking per card per on weekly basis
  • The offer can’t be clubbed with any other promotional offers
  • Bookings with the valid promo codes will be only eligible for this offer
  • The offer is valid for bookings from till 5th October, 2020
  • This offer is valid for transactions done through Kotak Mahindra Bank Credit Cards and Debit Cards only.
  • Instant discount is only valid on the eligible BINs shared by Kotak Mahindra Bank. If the BIN series of the card does not match with the one provided by Kotak Mahindra Bank to EaseMyTrip, then the card holder should
  • approach Kotak Mahindra Bank and the Bank will be entitled to withhold or deny the offer to the customer. TnC Applies
  • In case of partial/full cancellation the offer stands void and discount will be rolled back before processing the refunds
  • Changes in names are not allowed





Terms & Conditions

  • In the event of any misuse or abuse of the offer, EaseMyTrip reserves the right to deny the offer to the customers.
  • EaseMyTrip is the sole authority for interpretation of these terms.
  • In addition, EaseMyTrip standard booking and privacy policy on www.EaseMyTrip.com shall apply.
  • In the event of any dispute, Courts of New Delhi will have jurisdiction.
  • EaseMyTrip reserves the right, at any time, without prior notice and liability and without assigning any reason whatsoever, to add/alter/modify/change or vary all of these terms and conditions or to replace, wholly or in part, this offer by another offer, whether similar to this offer or not, or to extend or withdraw it altogether.
  • EaseMyTrip shall not be liable for any loss or damage arising due to force majeure.

 

https://www.easemytrip.com/

Kisan Credit Card: 2.5 million farmers will be given KCC, loan of 2 lakh crore rupees

New Delhi, Business Desk. Finance Minister Nirmala Sitharaman made several big announcements on Thursday in the second installment of the Rs 20 lakh crore package. He made many big announcements for the farmers and the poor. Sitharaman said that the government has issued KCCs to 25 lakh farmers in the last 2 months and in the coming days, credit cards will be provided to 2.5 crore farmers of the country. It has been decided to release up to 2 lakh crore rupees. According to Finance Minister Nirmala Sitharaman, 2.5 crore farmers will get loans up to Rs 2 lakh crore on credit cards. 



 

The Finance Minister said that a fund of 6000 crores will be created to create jobs for the people of tribal areas. NABARD will fund additional emergency working capital of Rs 30,000 crore for farmers. This amount will be released immediately. About three crore farmers are expected to benefit from this. This scheme is directly for the benefit of rural India and farmers. He said that with the three month loan moratorium facility, three crore farmers applied for a total of 4.22 lakh crore agricultural loans. Assistance has been provided to farmers on interest. 


According to the Finance Minister, in March, 4200 crore rupees were given to the states under the Rural Infra Fund. In March, April, 63 lakh agricultural loans worth 86600 crores were sanctioned. In March 2020, Rs 4,209 crore assistance was provided to the states for the infrastructure of rural areas. Between March 1, 2020 to April 30, 2020, loans worth Rs 86,600 crore were given for agriculture. Out of 9 schemes, 2 schemes related to small farmers, 3 non-resident laborers, he said that there are also schemes for street vendors.

 

source: www.jagran.com

 

Do not withdraw cash from ATM through credit card, this is the biggest reason

New Delhi, Business Desk. Withdrawing money from an ATM through a credit card may seem convenient at times. Neither bank approval nor any document is required for withdrawal of money from ATMs. But for this facility you have to pay a huge cost.

Withdrawing money from ATMs through credit cards, both the interest and fees are very high. Apart from this, if the card holder fails to pay the minimum due amount, then his credit score gets badly affected. We are telling you in this news why cash should not be withdrawn from ATMs through credit cards.


Advance Fees : This fee will be charged every time you withdraw from a credit card. This fee can range from 2.5 percent to 3 percent, depending on the withdrawal amount. This charge is reflected in your next month’s bill, the installment you have to pay.

Finance Charge : Its payment is made on withdrawal amount, its rate is also like advance fee. This charge lasts from the date of withdrawal until the full payment is made.


With the help of Intrest Rate: Credit Card, you may have to pay a maximum of 4 percent monthly interest (48 percent annually) on cash withdrawal from ATMs. This can also vary depending on the bank. It is for the period from the date of transaction to its payment. Therefore it is quite expensive. Also, there is no reward point.

Credit Score : Withdrawing money from credit card ATMs has a negative effect on your credit score, as it explains the bad financial condition of the card holder.

Credit card companies hide these 5 things from you, know what is this secret

New Delhi, Business Desk. There are often calls from the bank for the credit card. If you are working in a good company, then you are also told about higher credit limit. Banks discuss various types of offers for giving credit cards. Although there are some things that banks or credit card companies hide from you, you should consider these things before taking a credit card. Know which are the things that you should keep in mind while taking a credit card.


Loan : It is often heard from the elderly that one should avoid taking loans. The advantage of credit card is that you can shop anytime, anywhere, but for this you have to deposit the loan amount. However, even if you do not pay the entire amount for it at once, you can pay it in installments as well.

Higher penalty : If you make a minimum payment every month by shopping with a credit card, you have to pay interest instead. If there is a default in payment then a higher penalty along with interest is to be paid. Apart from this, a fee has to be paid for using a credit card.


Cash withdrawal is expensive : If you withdraw cash from credit card at any time, then it will also cost you dearly. More interest has to be paid for this. There is also a penalty along with interest for default in its payment.

High Interest Rate : The bank does not ask to carry forward the balance till the next month! The bank charges interest on your balance, it is very high. Many times a discount offer is offered for purchases made by credit, but the rebate that you get at the time of filling the money spent on the card ends up as interest.


Credit Activity : The bank offering the credit card keeps reviewing the card. Typically, these reviews occur every six to 12 months. If you have made any negative change regarding credit card or have made any mistake in payment, then the credit card issuer keeps on knowing this. If he finds something wrong, he can raise the interest rate.

Demand to double the limit of Kisan Credit Card and interest 1 percent, 7 crore people will get relief

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Beneficiaries of PM Kisan Samman Nidhi will now have to make Kisan Credit Card easy, this is the reason, KCC will be made in two weeks of application, instructions to banks

new Delhi. In view of the crisis on the rural economy due to the lockdown, Kishan Shakti Sangh president Pushpendra Singh has demanded to reduce interest by doubling the limit of KCC-kisan credit card. Now its limit is 3 lakh rupees and 4 percent interest is paid on timely repayment of money. He has demanded from the government that its limit should be 6 lakh rupees and the interest rate is only 1 percent. About seven crore farmers in the country have KCC, while 14.5 crore farmers are families. In such a situation, if the government takes this step in the interest of agriculture and farmers, at least half of the country’s farmers can overcome the crisis.


Singh, who is knowledgeable in agriculture matters, has also demanded that the payment of all the loans and installments of the farmers be suspended for one year. The government has extended the date of payment of all short-term agri loans taken from banks on KCC by just two months. It has been increased from 31 March to 31 May. This means that now farmers can repay their crop loans till May 31 at the old rate of only 4 percent per year without any increase in interest. Kisan Shakti Sangh is demanding to suspend it throughout the year.

The central government is already giving big discount to the farmers



, the interest rate of loans up to three lakh rupees taken on KCC for farming and farming is 9 percent. But the government gives 2 percent subsidy in it. In this way it falls to 7 per cent. But on return on time, you get 3% more discount. In this way its rate is only 4 percent for honest farmers. Now it is being demanded to make it one per cent. The advantage of this scheme is that it reduces the dependence of farmers on moneylenders. They get the cheapest loan for agriculture.

Hence KCC scheme linked to PM Kisan Yojana


The Kisan Credit Card Scheme has been linked to the PM Kisan Samman Nidhi Scheme (PM-kisan samman nidhi scheme). Since whoever has received 6000 rupees annually under PM-Kisan scheme, the details of revenue, Aadhaar and bank account are with the government. In this case, both schemes have been linked.

Union Minister of State for Agriculture Kailash Chaudhary says that the beneficiaries of Kisan Samman Nidhi should go to the bank related to their account and submit the application for KCC, the Chief Managing Directors of the banks have been given necessary instructions in this regard by the Finance Department. Applicants will get the benefit within 14 days after the application.

PM-Kisan scheme is not in the list, so register your name, farmers have a golden opportunity to get 2000 rupees

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The central government has started the process of adding names of farmers in the new financial year. The new financial year has started, so now a new list will be released. Earlier, farmers have been given an opportunity to check their names and add new names.

new Delhi. There is a lockdown in the entire country because of Corona. This has had an impact on the poor, farmers and laborers. For this reason, the Modi government is constantly giving them great relief. According to the Finance Ministry, the first installment of Rs 16,146 crore has been sent to 8 crore farmers under the Prime Minister Kisan Samman Nidhi in their accounts. Prime Minister Narendra Modi has launched many benefits schemes for crores of farmers across the country. Pradhan Mantri Kisan Nidhi Scheme is very important in these schemes. Under this scheme, the government deposits Rs 6000 every year in the bank accounts of farmers. This amount is added to the farmers’ account in three equal installments.


The central government has started the process of adding names of farmers in the new financial year. The new financial year has started, so now a new list will be released. Earlier, farmers have been given an opportunity to check their names and add new names.

Check your name in the list
If you have applied and want to know whether your name is in the list to get 6000 annually, then you can check your name by visiting this website. The names of farmers who have been given the benefit of this scheme by the government can also be seen according to the state / district wise / tehsil / village. In this, the government has uploaded the complete list of all the beneficiaries.


If you have applied to take advantage of this scheme and now want to see your name in the list of beneficiaries, then for you, the government has now provided this facility online as well. The new list of PM Kisan Samman Nidhi Scheme 2020 can be checked on the official website pmkisan.gov.in. The Ministry of Agriculture and Farmers Welfare will release the list of farmers benefiting under PM Kisan Samman Nidhi till May.


>> Look at the menu bar on the home page and go to ‘Farmer’s Corner’ here.
>> Click on the link for ‘beneficiary list’ here.
>> After this enter your state, district, sub-district, block and village details.
>> After filling this, click on Get Report and get the complete list.

Banks gave a big shock to credit card holders! Now you will be able to reduce your card expenses

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Coronavirus has worsened the economic condition of all the people of the country. If someone’s business is stalled, then someone’s salary is getting cut. At the same time, many banks are reducing the credit card limit of customers.

new Delhi. Coronavirus has worsened the economic condition of all the people of the country. If someone’s business is stalled, then someone’s salary is getting cut. At the same time, many banks are reducing the credit card limit of customers. According to a report in ET , an internal memo from Axis Bank stated that the credit limit of about two lakh customers has been reduced. This memo is seen by ET. Accordingly, this limit was reduced from 15 April. Some Axis Bank customers confirmed this. The credit limit for this group has been reduced by 30-90%.


90% reduction in credit limit
A customer of Axis Bank told ET that the credit limit on his Axis Bank Vistara card has been reduced from Rs five lakh to just Rs 50,000, while he has been paying the outstanding on time. When asked customer care, it was told that this happened due to technical disturbances and it will be rectified in a few days. Another customer said that his limit has been reduced from seven lakhs to one and a half lakh rupees.



Ambuj Chandna, President (Customer Assets) of Kotak Mahindra Bank, says that it is not as if any special action has been taken in the current situation. According to credit card expenses and repayment, we decide the credit limit of the customers and in some cases increase or decrease it.

Credit card dues increased a lot last month
. According to the RBI data, at the end of February, the credit card dues were at an all-time high of Rs 1.1 lakh crore. There were over 5.6 crore active credit cards in the country at the end of January. HDFC Bank has tightened the eligibility condition for personal loans and has also reduced the limit. Its limit has now been reduced to 70-80% of the annual salary of the applicant, whereas earlier it was 100%.


read this also: Do those investing in mutual funds schemes need to panic now? Banks are only giving loans to these retailers. Banks are also reducing loans and merchant enterprise overdrafts to retailers. In the internal memo of HDFC Bank, the branch managers have been directed that such loans should be given only to grocery stores, pharmacy and dairy till further orders. ET has seen this memo.

Credit cards are being used for the first time, keep these 4 things in mind

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New Delhi, Business Desk. In today’s era, it is easy to get a credit card on a phone call. For this, you need things like ID documents, address proof, income proof, salary slips, bank statements. In today’s time, people prefer to use credit cards more than cash, whether it is a restaurant bill or a grocery bill. But when you are using a credit card for the first time, then you have to take care of some special things.


Budget: Always maintain a limit on credit card expenses. Make sure that you have at least 15% of the credit card money saved from the prescribed credit card limit given by the company. If you give your mobile number to your respective credit card company, you will continue to receive alerts and notifications regarding your credit card spending and balance credit limit.

Payment : At the time of payment on the money spent with credit card, at least payment facility is available. This is harmful for you because if you did not pay the entire bill and paid only a small amount of money, then later you will have to pay the remaining money later with more interest. So try to pay all the money together.


Do not increase the credit limit : When applying for a credit card, the bank sets a fixed credit limit based on your income and repayment capacity. As your earnings increase, the bank becomes more confident about your repayment capacity, they increase your credit limit. Whether or not to increase the credit limit is up to you.


Can withdraw cash : Credit also allows you to withdraw cash from ATM. But the interest on this seems very high. Therefore, use credit card as cash withdrawal only when you need it very much. If you ever fail to pay its bill, then you will have to pay a big amount for it. Therefore, it is very important to keep these things in mind when using a credit card for the first time.

Kisan Credit Card: Here’s How to Make KCC within few Seconds to Avail all the Benefits; Click Here

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In midst of the nationwide lockdown, the center has been taking several measures to decrease the plight of it’s citizens. On the occasion of completing one year of PM Kisan Samman Nidhi Yojana, Prime Minister Narendra Modi has announced a big gift to the farmers. As per reports, the center has decided to give Kisan credit card of 1.6 lakh rupees to all the beneficiaries of this scheme.


All the customers who have opened accounts in PM Kisan Samman Nidhi can only take advantage of this government scheme. For this, you must first go to the official site https://pmkisan.gov.in/

You can download the form from here

From here you have to download the form of Kisan Credit Card. On the official site’s homepage, you will see the option of Download KCC form. You can download the form from here.

You need to fill-up the form with every detail


You will get a one-page form here where you need to fill-up every detail.  You have to fill this form with the documents of your land, details of the crop. Apart from this, it has to be declared that they have not got any other farmer credit card made from any other bank or branch. Apart from this, you can also download this form from http://www.argicoop.gov.in./

Rs. 1.60 lakh will be the limit

In this credit card, customers get an auto limit of up to Rs 1.60 lakh. Also, if the crop of any account holder is worth more than this, they can make a credit card for a higher amount. You need to fill up every information regarding your crops and land.

Crores of people have joined this scheme


As per the report, around 9 crore 34 lakh people have joined the government’s scheme. The Modi government has set a target to add 14 crore farmers by 2022 under this scheme, says an official.

You can repay the Loan up to 31st March

Apart from this, under the Kisan Credit Card Scheme, you can repay the loan till 31 May. Earlier, the last date to repay this loan was 31 March, which has now been increased to 31 May. Not only this, there will not be any penalty or extra interest.

Bank ATM card vs Debit card: Do you know the difference? Check listing

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ATM card is not same as your Debit card. An ATM card is a PIN-based card, used to transact in ATMs only while a Debit Card is a much more multi-functional card and is used for transacting at a lot of places like stores, restaurants, online in addition to the ATM.

Most people would be unaware that banks can also provide a bank ATM card to its account holders. Also, they would be keen to know what are the ATM card vs Debit card difference. Most banks including SBI, HDFC Bank, ICICI Bank and Axis Bank issue these cards. Are the two cards same or different? Know here. It is a common perception among people to think that ATM cards and Debit Cards are the same. The perception is mainly because they look similar and work almost


identically. But we should know that an ATM card is not same as your Debit card. An ATM card is a PIN-based card, used to transact in ATMs only while a Debit Card is a much more multi-functional card and is used for transacting at a lot of places like stores, restaurants, online in addition to the ATM. However, ATM cards have many benefits that debit cards don’t.

ATM Card Vs Debit Card difference: What you should know


ATM Cards
— ATM Cards are solely used to withdraw cash from the ATM.
— ATM Cards use a 4-digit PIN or unique Personal Identification Number and is linked to your bank account.

— Your bank account balance is reduced in real time if you withdraw any cash, at given time.
— ATM Cards do not charge any interest
— They cannot be used everywhere and have a very limited utility.
— Your bank may charge high fees as ATM charges if your bank and ATM are not the same – if you use other banks’ ATM.
— You cannot utilise the Overdraft facility on ATM Cards in case of inadequate funds in your account.


Debit Cards

— They are easy and convenient to use.
— Debit cards can be used anytime and anywhere for a variety of reasons.
— You will need your PIN (Personalized Identification Number) to complete transactions.– Debit Cards are tied to your Savings Accounts. Whenever you make any payment, you will see your funds get deducted immediately upon making the transaction.

Bank ATM Card Holders Alert! Get benefits beyond cash withdrawal; Here are top 5 advantages that you must know

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Often, we tend to mistake an ATM card and Debit Card to be the same. This is mainly because ATM and Debit Cards are quite similar in terms of their functions and use. However, what we must know is that they are two different cards.
An automated teller machine or bank ATM card benefits go beyond just allowing cash withdrawal. It has many more advantages like account balance inquiry through mini statement, insurance in case of accidental death or disability, new cheque book request, deposit or transfer money etc. So, an ATM card is very important indeed and those who have them should know the various ATM card benefits.


Here we list out the following top 5 benefits of having ATM card:

1] Deposit and transfer of money: Your ATM card not only allows you to withdraw money, it can help you even deposit money in the deposit machine without visiting your bank. If you do not have a net-banking facility then also you can transfer your funds through ATM machines by inserting the ATM card and choosing the transfer option and entering the details of the beneficiary for making the successful transfer of payments. But, money transfer through ATM is possible if the beneficiary has a bank account in the same bank.

2] Details of transaction: Everybody know that asking for bank statement may incur charges. So, one can fish out the mini-statement from the ATM by using one’s ATM Card. It is free and getting mini-statement doesn’t get included in the number of free ATM transaction allowed by the bank.


3] Request for new cheque book: If you don’t use net banking, then your ATM card will be useful in generating request for new cheque book from the ATM. What you need to do is to go at the nearest ATM, use your ATM card and put request for the new cheque book rather driving down to your branch for putting the new cheque book request.

4] Free from any charges: Unlike Debit card, ATM card is given free of cost as banks doesn’t charge ATM card holders anything. So, rather than having a debit card that incurs annual charges, it’s better to keep ATM Card and avoid annual charges.


5] Unlimited cash transaction: Unlike debit card, banks provide unlimited cash transaction facility through the ATM card within a month without incurring any additional charges. So, having an ATM card helps you avoid cash withdrawal transaction limit, which is a huge advantage of having an ATM card instead of debit card.

So, next time when you go to your bank for ATM card, don’t fall prey to the lure of credit or debit card.

Credit card moratorium: Should you pay interest rate of 42% by deferring outstanding balance?

News Update, Top Credit Card Offers

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Here are a few frequently asked questions that may help you decide better whether to opt for a moratorium or pay the credit card dues now.



Credit Card Dues: Amidst the lockdown in the country because of the Coronavirus pandemic, the government has come out with several relief measures for the citizens of the nation. The RBI has permitted banks to allow a moratorium of 3 months on term loan EMIs including credit card outstanding dues. The moratorium period for credit cards dues and loans taken on the credit card will apply from March 1, 2020, to May 31 31, 2020. The moratorium, however, is an option for the cardholders and, therefore, one may keep paying the dues as and when they arise as per the credit card billing cycle and the due date.


Here are a few frequently asked questions (FAQs) that may help you decide better whether to opt for a moratorium or pay the credit card dues now.

When to pay after a moratorium

As a credit cardholder who wants to opt for the moratorium, one can defer the payment till May 31, 2020. By opting for a moratorium, one will need to pay the minimum amount due or total outstanding amount and also the accrued interest charges on the due date falling after May 31, 2020.

Transaction made in moratorium period

By opting for a moratorium, the transactions made till May 31, will not be enjoying the interest-free period. This is because credit card interest-free period of 45-51 days is allowed only if outstanding dues are completed paid by the due date. So, your June 2020 credit card statement will include all previous due amount ( before moratorium), amount transacted during moratorium and interest levied on both these transactions.

How to avail credit card moratorium

If your current financial situation requires, you may opt for a moratorium, however, remember you are merely deferring the payment. The full dues will, anyhow, have to be paid later on including interest amount. The interest rate on a credit card is typically between 36 per cent and 42 per cent per annum.


If you are sure about making the full payment in 3 months time, paying interest for that period may still be fine but if you are not sure of your finances getting improved over the medium term, the interest portion on your card will balloon-up into a big debt.

It is also important that you do not go for fresh transactions during moratorium period so as to keep the dues lower. Take an informed decision knowing well that opting for a moratorium will only help you tide over the financial crunch temporarily.

Bank credit to sectors vulnerable to covid-19 grew fastest recently

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  • NBFCs are struggling with liquidity and the impact through them to bank balance sheets would be felt
  • The lockdown has shuttered restaurants, hotels and tourism to enforce social distancing

Banks have lent more to sectors that have emerged as the most vulnerable to the lockdown imposed for curbing covid-19 spread, shows data from the Reserve Bank of India (RBI).

As of February, loans to commercial real estate grew by 15.13% year-on-year while those to tourism, hotels and restaurants grew by 16.95%. As the adjoining chart shows, credit growth rates were low a year ago for these two services.


The lockdown has shuttered restaurants, hotels and tourism to enforce social distancing. With malls, multiplexes and non-essential stores closed, commercial real estate has taken a massive hit. Add the fact that work from home has been adopted, offices too have been largely closed. It is obvious that commercial real estate is one of the biggest casualties of covid-19 and recovery won’t be quick.

The fact that loans to this sector had picked up of late is going to bother banks. Analysts have already pointed out that asset quality would be hit in the wake of the lockdown.

Growing pain.

To be sure, the share of commercial real estate in total credit is small at 2.5%. That of tourism, hotels and restaurants is even smaller at 0.5%. Even so, these segments and most services contribute heavily towards employment. Ergo, cascading effects onto individual incomes and therefore onto personal loans cannot be overlooked by banks.

Meanwhile, on an aggregate level, credit growth to services has decelerated sharply to 6.93% from 23.67% a year before. Loans to manufacturers too have shown subdued growth, bringing the overall non-food credit growth down.


Loans to non-banking financial companies (NBFCs) grew by 22.29%, less than half the pace of growth a year back. That said, NBFCs are already struggling with liquidity issues, which now gets more complicated due to the lockdown. The impact through them to bank balance sheets would be felt.


Indeed, there is no sector of the economy untouched by the virus outbreak. But some corners are more painful than others. Unfortunately, Indian banks seem to have increased lending to these painful corners. As the lockdown to prevent covid-19 spread shrinks banking activities to the mere basics, the country’s lenders are bracing for a quite a hit on their assets.

ICICI Announces Banking Services On Whatsapp

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The outbreak of the coronavirus has given various businesses a chance to think of the operations that could be operated from home. Every business today has tried to reach their customer and therefore facilitate them at home during this phase of quarantine. In light of the same private lender ICICI Bank, today announced the launch of banking services on WhatsApp.



To enable its retail customers to undertake a slew of banking requirements from their home in the time coronavirus lockdown. Customers can check their savings account balance, last three transactions, credit card limit, get details of pre-approved instant loan offers and block/unblock credit and debit cards with ICICI WhatsApp banking services. Apart from this, they can also get details of the nearest three ICICI Bank ATMs and branches in their vicinity.


Who can avail of the services?
The services can be availed by all the customers having the savings account in the bank as well as WhatsApp in their smartphones. Credit cardholders can block or unblock their card. Non-ICICI customers can get details about nearby branches and ATM.

How to start ICICI banking services on WhatsApp?
The customer needs to save ICICI Bank’s verified WhatsApp profile number, 9324953001 to their contacts and send ‘Hi’ on this number using the mobile number registered with the bank. The bank will respond with a lowdown of the services available under this facility.



From the lowdown of services, type the keyword of the service required. For instance, <Balance>, <Block>, etc.  Service is carried out instantly.

Nearest ICICI ATM BRANCH  and branch: Type <ATM>, <branch>

Available offers on travel, dining, and shopping nearby: Type <offer>, <discount>

Commenting on the launch of the service, Anup Bagchi, Executive Director, ICICI Bank said:

SBI has changed the timing of branches seeing lockdown, now work will be done at your convenience

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New Delhi, Business Desk. The country’s largest lender State Bank of India (SBI) has changed the timing of branches at various locations in view of the lockdown. This change has been made so that the customers of the bank do not face any problem. Apart from this, SBI is also emphasizing on social distancing in view of the increasing infection of Corona virus. SBI Managing Director PK Gupta said that after talks with the state governments, the bank has changed the banking hours of the branches to facilitate the customers.


News agency PTI quoted PKGupta, managing director of retail banking at SBI, as saying, “In many states, we have changed the opening hours of branches.” It is 7-10 pm in some states and 8-11 pm in some states. At the same time, banks are being opened for customers from 10 am to 2 pm in some states. ‘

Considering the threat of Corona virus, SBI is providing masks and sanitizers to its office workers. A distance of at least one meter is being placed in the queue. Those who are in the administrative department of the bank, they leave one day and work. In addition, the bank is using mobile ATMs for the convenience of the people. Through a mobile ATM, customers can withdraw money without going to a bank branch or an ATM. PK Gupta has also shared its video on Twitter.



Apart from SBI, many other banks including HDFC Bank, ICICI Bank, Standard Chartered Bank have also changed their operating hours. Most banks will work from 10 am to 2 am afternoon till 31 March. Also, banks have stopped non-essential services in view of the increasing risk of corona virus. All banks have requested customers to resort to digital or online media as far as possible for their banking needs.


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