Jaya Vaidhyanathan
Contributor
Advisor
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What Is Cryptocurrency And How Does It Work?
Cryptocurrency is decentralized digital money that is based on blockchain technology and secured by cryptography. To understand cryptocurrency, one needs to first understand three terminologies – blockchain, decentralization, and cryptography. How Does Cryptocurrency Work? In simple words, blockchain in the... -
What Is No-Cost EMI And How Does It Work
What Is No-Cost EMI An EMI or the equated monthly installment scheme is a type of loan that allows you to make fixed monthly payments over a specific period of time. A no-cost EMI offering is slightly different as it... -
10 Benefits Of Owning A Credit Card And How To Use One Wisely
As a financial tool, credit cards are often misunderstood and underutilized. Many of us view credit cards simply as a way to make purchases, but they offer so much more than that. Responsible users stand to gain significantly from credit... -
What Is Neobanking And How Does It Work?
Neobanks are digital-only banking platforms that operate solely online. Simply put, they do not have a physical presence. For customers, transactions in traditional banks could require a lot of time and effort. Neobanks promise a seamless online experience by bringing... -
How To Avoid Paying High Interest Rates On Loans
With the wide variety of credit options available to borrowers today, borrowing money is becoming increasingly popular. There are different types of loans borrowers can choose from depending on their needs, including personal loans, home equity loans, car loans, and... -
What Is MCLR And How Does It Work?
MCLR or marginal cost of funds-based lending rate is a benchmark interest rate, which is the minimum rate at which banks are allowed to lend. MCLR came into force in 2016, essentially replacing the base rate system, which was in... -
How Much Should You Pay On Your Credit Card?
India is one of the fastest growing economies in the world, with a large pool of active credit seekers. The number of credit cards issued in India has been steadily increasing over the last few years. As of September 2021,... -
Key Things To Follow To Avoid Defaulting On Your Loans
People take loans when they need to cater to different expenses, such as buying a home or vehicle, seeking education or tackling emergencies, when ready cash is not available. Such a loan is considered defaulted when principal or interest payments... -
What Happens To Your Money If A Bank Fails? Ways To Protect Yourself
When a bank fails, there is a “moratorium”, during which the bank is restricted from doing business. During the moratorium, the banks can allow only restricted access to depositors’ funds, and cannot give out new loans. Authorities work towards reviving... -
Union Budget 2021: How Will The Way You Bank And Save Change?
In the Union Budget 2021-22, India’s Finance Minister Nirmala Sitharaman committed to a budget estimate for expenditure in 2021-2022 at INR 34.83 lakh cr to ensure the economy is given the required push as the Covid-19 pandemic derailed the economic...