Citizens' Issues
RBI cancels krishna valley bank license

RBI has cancelled the licence of Krishna Valley Co-operative Bank (Maharashtra), with effect...

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Equity Mfs: Massive net outflows in feb

Sales of equity mutual fund schemes aggregated Rs3,880 crore in February 2012, the highest since September 2011. Redemptions from equity funds increased as well touching Rs6,689 crore—the highest since October 2010. This led to a net outflow of Rs2,809 crore from equity mutual funds in February 2012. Sale of equity linked savings schemes (ELSS) picked up from January 2012 but was lower compared to February 2011 when the stock market was higher. Sales of ELSS amounted to Rs286 crore, up 17%, but was down by more than half compared to last year when sales touched a high of Rs648 crore.

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Credit Scores: Review your credit report regularly

“If you regularly check your credit history, you could spot mistakes if any, and you can contact your bank, or lender, to correct them,” said Mohan Jayaraman, MD, Experian Credit Information Company of India Pvt Ltd speaking at a seminar on financial literacy held by Moneylife Foundation in Goa. But more important than looking for mistakes, one should look at the number of credit enquiries been made, said Mr Jayaraman. An enquiry shows the names of the credit institutions that have performed a search on you based on your credit/loan application. Multiple enquiries may affect your credit score; therefore, one should avoid applying for a loan to multiple financial institutions.

Another important reason for reviewing your report regularly is to check if there are any enquiries which are not made by you. Such enquires may indicate that someone may have forged your documents and applied for a loan. By reviewing your credit report regularly, you could prevent identity theft. 

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COMMENTS

YCSR

5 years ago

It is definitely good to review your credit regularly. There are a few good credit monitoring programs out there that everyone should sign up for

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