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HDFC Bank tweaks norms for premium accounts

HDFC Bank tweaks norms for premium accounts

Finance
CHENNAI: HDFC Bank has tweaked the requirement for its premium customers by mandating that they now keep Rs 1-lakh balance a month from the earlier requirement of Rs 1-lakh balance a quarter. Changing the eligibility for its 'Classic' banking programme, HDFC Bank now mandates that customers would have to maintain the new minimum balance from December 9, according to mailers sent to customers. The bank did not respond to requests for a comment on what would be the charges for non-maintenance. Customers of Classic banking account also get waivers on a host of services - cheque deposit, stop payment of cheque and standing instructions. (This article was originally published in The Times of India)Let's block ads! (Why?) Banking/Finance-Industry-The Economic Times
How should I invest my inheritance money?

How should I invest my inheritance money?

Finance
Sallie Krawcheck wants to close the 'gender investing gap'What are the best ways for 20-somethings to invest inheritance money? -- Jason Staring at a new big balance in your bank account can be exciting. It can also freak you out. On one hand, an inheritance could open up new financial opportunities: paying off your student debt once and for all, buying a home, going on a big vacation, starting a business. You're not alone if your first inclination is to buy a boat, throw a lavish party, or put it all into the stock market. People often don't treat the money received through some kind of windfall the same way they do their regular income. There's even science behind it. A concept called "mental accounting" explains why we value some money differently than other money, according to the w...
Dubai bank Emirates NBD begins operations in India

Dubai bank Emirates NBD begins operations in India

Finance
DUBAI: Emirates NBD, the UAE's second-largest lender, has started operations in India with an aim to invest USD 100 million capital into its Indian operations, the bank said. The Mumbai branch marks the bank's fifth international branch outside of its UAE network. The branch will offer a range of services to corporate, SME and institutional clients including trade finance, treasury services, bilateral and syndicated loans in addition to supporting NRI (non-resident Indian) customers looking for cross-border wealth management solutions. The bank plans to invest USD 100 million capital into its Indian operations, Emirates NBD said. "We are delighted to expand our footprint to India, building on the UAE's strong historic, cultural and commercial ties with the country. As a key trading p...
CME Sustains Growth Momentum Across Asset Classes In October

CME Sustains Growth Momentum Across Asset Classes In October

Finance
Shutterstock photoAfter a solid performance across most of its major asset classes in the first three quarters, CME Group 's ( CME ) trading volumes saw impressive growth in October, with its daily volumes coming in 14% above the year ago levels. Recent rate hikes and the Fed's indications of another hike in the year ahead has boosted investor interest in interest rate derivatives, with trading volumes 33% ahead of the levels seen in October 2016. Energy derivatives maintained solid volumes, but the marginal decline from the year ago levels is likely due to the strong demand towards the end of 2016 with the surge in oil prices due to cuts in production. Meanwhile, metal derivatives saw 46% growth in trading volumes as they are considered a safe investment asset. We expect fur...
Why you're hardwired to be bad at money

Why you're hardwired to be bad at money

Finance
How to save $ 1,000 this yearWhy are money decisions so stressful? No, it's not because you're broke. It's because your brain is fundamentally challenged when it comes to financial choices, according to neuroscience. And going it alone only makes it worse. "Our brains are really good at avoiding major risks and keeping ourselves alive," says Dr. Sam Barnett, a neuroscientist at Think Alike Labs and chief executive of SBB Research, a quantitative investment firm, who was the lead researcher. "Our brains were not designed to make the kind of complex decisions our financial realities demand, the kind that have many correct answers." There isn't just one right way to save money, for example. You could put your money in a shoe box, a high-yield savings account or a money market fund and each...