In your interest.
Online Personal Finance Magazine
No beating about the bush.
Many account holders of ICICI Bank are agitated with its decision to double the minimum quarterly average balance from Rs5,000 to Rs10,000 and to encourage those customers who do not want to maintain this balance, to close their accounts within 60 days. With this, the Bank is signalling that it no longer wants to chase growth in terms of number of accounts and will focus on customer net-worth...
Over the past two years of its existence, MoneyLIFE has strongly flagged the issue of brokers asking investors to sign a Power of Attorney (PoA) giving them access to the investors’ depository participant (DP) account. Active investors do sign such a PoA as a matter of convenience and to avoid constantly signing DP instruction slips to meet the T+2 settlement norms. But that is a conscious...
This name conjures the image of a ‘propah’ British bank but, in India, it has followed a strategy of aggressively pushing subprime personal loans and credit cards through pesky but persistent agents. That may be a good business strategy, but Barclays had a lot to learn about doing business in India. An RBI executive director succumbed to an agent’s pester power and filled up a credit card...