Hexafin Blog | Banking Insights, Business Loans & Financial Advisory
Rising Cybercrime: How Scammers Are Exploiting India’s Digital Growth! (2024)
India’s digital growth has made financial services easier for millions, but it’s also given cybercriminals new ways to scam people. According to experts, around 85% of complaints filed during the 2023-2024 financial year were about online frauds, with stock market scams, money mules, and social engineering attacks being the most common. For example, Krish Ramnani…
RBI Holds Rates Steady, Eyes Focused on Inflation Control
The Reserve Bank of India (RBI) has opted for stability, keeping the repo rate unchanged at 6.5% after a three-day policy meeting. This decision, announced by Governor Shaktikanta Das, reflects the RBI’s continued focus on bringing inflation down to its target of 4%. Key Takeaways: What This Means: Borrowers may not see immediate relief in…
The Hidden Cost of Borrowing: Truth About Processing Fees and Loan Charges
Considering a loan? The interest rate is important, but there’s a secret world of fees that can significantly increase your borrowing costs. Understanding processing fees and other loan charges is crucial for making informed financial decisions. What are Processing Fees? Processing fees are a common loan fee that lenders charge to cover the administrative costs…
RBI Implements Groundbreaking Transparency Measures: Lenders Mandated to Disclose All Loan Charges in Key Fact Statement
The Reserve Bank of India (RBI) has introduced measures to enhance transparency in lending practices by instructing financial institutions to disclose all charges associated with loans, in addition to interest rates. Lending institutions, including banks and Non-Banking Finance Companies (NBFCs), are now obligated to include details of charges such as processing fees and documentation fees…
HDFC Bank Unveils Four Specialized Credit Cards for SMEs, Offering 55 Days Interest-Free Credit
HDFC Bank has recently introduced a set of four credit cards aimed at targeting small and medium-sized entrepreneurs (SMEs) in a strategic move to expand its card business. This development was officially announced by Parag Rao, the country head of payment, liabilities products, customer finance, and marketing at HDFC Bank. The distinctive feature of these…
RBI Holds Key Rates Steady, Projects Robust GDP Growth, and Eyes Inflation Dynamics in FY24-FY25
The Reserve Bank of India (RBI) has announced its decision to maintain the key lending rate (repo rate) at 6.5%, with a focus on the ‘withdrawal of accommodation’ stance. RBI Governor Shaktikanta Das stated that this decision, supported by five out of six committee members, is influenced by the ongoing transmission of the cumulative 250…
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