Stop Accepting Loan Repayments Against Insurance Policies Via Credit

New Delhi: The Insurance Regulatory Development Authority of India (Irdai) in a circular issued on Thursday asked life insurers to cease accepting loan repayments against insurance policies made via credit cards. The decision is effective immediately and applies to all life insurers. There are instances where policy loans are repaid using credit cards and the …

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Now, you cannot repay loan taken against insurance policy using credit card

The Insurance Regulatory Development Authority of India (IRDAI) has asked insurers to stop the facility of repayment of loans taken against insurance policies using credit cards as a mode of payment. Accordingly, policyholders will not be able to use credit card now as a mode of re-payment of loans granted against insurance policies. Notably, the …

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Visa Launches CVV-Free Payment Feature For Tokenised Transactions

Right after the RBI approved the ‘Credit on UPI’ system through RuPay credit cards, the global card transaction company Visa, has launched a feature that will allow users to make online payments without the CVV number. However, this feature is applicable in India only for domestic transactions, and the CVV will be asked only while …

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State Bank of India Revises Rules For Cashback Services On Credit card

The Financial Year 2023-24 has commenced with many changes introduced in personal taxation, investments, etc following the Union Budget 2023. May has also brought many financial rules and regulations into effect. Some key financial changes have also been introduced by the State Bank of India Credit Cards and Payment Services. SBI has made some revisions …

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SBI credit card users: Latest rule changes you must know

Customers can access several banking transaction services through the Bank’s Agent by using the service known as Doorstep banking. Customers can access various accounts conveniently from their doorstep. Account opening, cash deposits, withdrawals, money transfers, and other services are some of the services that can be availed under doorstep banking. While some banks charge for …

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Credit Card Platform Kiwi Raises $6m In Pre-Seed Round Led By Nexus, Stellaris

Credit card platform Kiwi has raised $6 million in pre-Seed funding round from Nexus Venture Partners, Stellaris Venture Partners, and angel investors. The startup has also launched its all-in-one “Credit on UPI,” which will help customers make payments using either a credit card or bank account directly through their phones. With this launch, the startup …

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RBI allows invoicing, payments for international trade in Indian Rupee

Reserve Bank of India (RBI) has allowed invoicing and payments for international trade in the Indian Rupee, Union Minister of State for Finance Bhagwat Kisanrao Karad informed the Rajya Sabha on Tuesday. In a written reply to a question in Rajya Sabha, Karad said the central bank has allowed payments for international trade in the …

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