CrifiM

16/11/2018

Any kind of help regarding Loan & Advance from Bank or NBFC Company can contact directly we will be trying to resolved your problems.

CRIFIM LOANS

07/09/2018

Oppertunities into Online Sales Consultants

23/08/2018

LoansHome Loan EMIs = Home Loan Principal EMIs + Home Loan Interest EMIs.

23/08/2018

You can avail a home loan along with spouse called joint home loan. If you avail a joint home loan, the bank combines your income with spouse’s income to calculate eligibility. You are eligible for a higher loan amount if you avail a joint home loan.

23/08/2018

How To Get Lowest Interest Rate On Home Loan?

Found the dream home you badly want? Great, Now it’s time to avail a home loan and buy it. But, there’s a problem. RBI has just hiked the repo rates in the last two bi-monthly policy reviews, to keep inflation in check. The repo rate has been hiked from 6% to 6.5%. Repo rate is the rate at which RBI lends to banks.

When RBI hikes the repo rate, banks increase home loan rates. Banks have increased the MCLR (Marginal Cost of Funds based Lending Rate). This is the minimum interest rate below which the bank will not lend. HDFC Bank, Bank of India, ICICI Bank, PNB, Kotak Mahindra Bank and SBI have all hiked MCLR in recent times.

This hike in MCLR translates to a higher interest on home loans. New and existing borrowers are feeling the pinch of an increase in home loan interest rates. Is there a way you can get lowest interest rates on home loans? Check home loan EMIs with home loan EMI calculator.

22/08/2018

Urgent Hiring For Online Sales & Marketing

18/08/2018

Banks to come out of PCA framework by this fiscal: Rajiv Kumar

Asserting that the worst is behind for state-owned lenders, Financial Services Secretary Rajiv Kumar on Thursday expressed hope that the banks would come out of the Prompt Corrective Action (PCA) framework this fiscal.

As many as 11 out of 21 banks are under the RBI's watch list. Of these, two banks -- Dena Bank and Allahabad Bank -- are facing restriction on expansion of business.

Various measures taken by the government including implementation of Insolvency and Bankruptcy Code (IBC) has yielded good results in terms of reining bad loans and increasing recovery, he told reporters here.

Noting that the resurgent public sector banks are growth engines, Rajeev Kumar said, "Cleaning of balance sheets has put worst behind. Banks have made recovery of Rs. 36,551 crore during the first quarter registering a 49 per cent growth over the last fiscal."

At the same time, operating profit has risen by 11.5 per cent while losses fell 73.5 per cent on quarter on quarter basis, he said, adding asset quality has been addressed through falling NPA slippage.

Provision Coverage Ratio of banks have reached a healthy level of 63.8 per cent, he added. With all these efforts, he said, "I am sure the banks will come out of PCA this fiscal."

The resolve of government is extremely clear that every stakeholder has to be responsible, he said. "Those who are not prudently behaving will have to face the consequences. The NPAs are also decreasing. Credit growth is simultaneously taking place," he said.

With regard to capital, he said, "as and when they (banks) require. Some of it has already been given. As recoveries are taking place, there is possibility that some banks will not need it. As of now there is nobody breaching the regulatory norms.

We are committed to maintain their regulatory capital." NPAs are by and large recognised, provisioning by and large made, the recoveries are on its course through NCLT and outside NCLT, he said, adding, the creditor-debtor relationship is under tremendous change.

SOURCE: DECCON CHRONICAL

17/08/2018

How Chatbots Power Financial Services?

Chatbots have taken the financial services industry by storm. Banks and Insurers have understood the application of chatbots and are using them to save a lot of money.What are chatbots? Chatbots are programs powered by rules and AI (Artificial Intelligence) which interact with customers over the internet. Chatbots give customers an insight into financial products and services offered by banks and insurers. They also answer customer queries in seconds.

How Chatbots Power Financial Services?

Chatbots are all about man-machine interactions. Studies have shown many people shifting from Social Media to messaging platforms. Banks and insurers are capitalizing on this and are using chatbots to interact with their customers.

1. How do chatbots help banking customers?

A few years ago, you had to stand in a long queue if you wanted to deposit a cheque, withdraw cash or update the passbook. Mobile banking and smart banking apps have changed all this and you don’t have to take a few hours off from work. Just tap your smartphone and technology does the rest.

Chatbots have taken banking to the next level and with artificial intelligence and machine learning, they not only interact with bank customers, they also learn and enhance their knowledge from these interactions.

*Chatbots answer banking queries: Banks use chatbots to answer customer queries and update customers on banking products and services.

*Customers don’t have to stand in long queues or wait over phone calls. With chatbots, you can say goodbye to banks IVR (Interactive voice response). Chatbots give you and other customers a quick response and customers love the interaction.

2. Banking Services offered by chatbots

HDFC Bank has the AI-based chatbot, Eva, ICICI Bank has its chatbot iPal, Axis Bank has Axis Aha, Kotak Mahindra Bank has Keya, Yes Bank has YES mPower and SBI has SBI Intelligent Assistant.

*You may ask a banking executive simple questions when you interact with him. He gives you simple, structured answers. In much the same way, Chatbots answer your questions and give correct responses as they learn through interactions.

*Chatbots help with financial transactions. You can transfer money, pay your utility bills like electricity and water bill or even recharge your mobile phone through queries using chatbots.

*Chatbots help you with new features. These may be simple tasks like how to reset the ATM PIN.

3. Chatbots take over insurance

The insurance sector is making use of chatbots in a big way. Life insurers and general insurers are using chatbots for routine tasks like servicing customers, addressing basic grievances and providing quotes.

• Gone are the days when you had to wait for a customer service executive of an insurer to answer queries. Today, chatbots give you information on your insurance policy in seconds. Personalized responses are offered to life insurance and health insurance queries. You get quotes on the go.

• Chatbots recommend products and help you select the right financial product or insurance policy which meets your needs. Chatbots used by insurers can even respond to your emails. If you want to find the fund value of the ULIP or the application status of your life insurance policy, the insurer’s chatbot could help you.

Remember: Chatbots don’t take the day off or go on leave. They work 24*7 hours.

15/08/2018

06/08/2018

Impact Of Increasing Repo Rates

RBI has increased the repo rate by 25 basis points for the second time in a row. On August 1st 2018, in its third bi-monthly monetary policy review of 2018-19, RBI increased the repo rate and it now stands at 6.5%. Earlier on June 6th 2018, RBI had hiked the repo rate by 25 basis points and it stood at 6.25%. For the first time since October 2013, repo rate has been increased at successive policy meetings.

Impact of Increasing Repo Rates

Repo rate or repurchase rate is the rate at which RBI lends money to commercial banks, should they face scarcity of funds. An increase in the repo rate means banks borrow money from RBI at higher rates. To absorb the increased cost of borrowing, banks charge higher interest rates to borrowers (people who avail loans). Interest rates on home loans, car loans and personal loans should increase with a repo hike. Hence, the increase in repo rate is transferred to the common man.