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Tag: Financial

Buying and renting: Your biggest financial decision – in 10 charts

Buying and renting: Your biggest financial decision – in 10 charts

Business
Buying a home is the most significant financial decision in most people's lives. For tenants, paying the rent is the biggest monthly outgoing.So it is little wonder that house prices are an obsession for some, and a source of frustration for others.The financial crisis had huge implications for those wanting to buy or sell property.Here is the story of what has happened to the UK housing market in the past 10 years. 1. House prices are rising... or are they?The price of the average UK home has risen in the past 10 years, as you would expect. Prices of goods and services in general, as measured by the Consumer Prices Index measure of inflation, have increased faster.So, in real terms, the average UK house price has fallen compared with a decade ago.2. Price rises or falls depend on where yo...
RBS may face further action by financial regulator

RBS may face further action by financial regulator

Business
The financial regulator has said it may take "further action" over the way Royal Bank of Scotland mistreated some small business customers.The Financial Conduct Authority has published an interim report into failings by the RBS division that dealt with struggling businesses.The Global Restructuring Group was found to have "widespread" mistreatment of customers in some areas.RBS said it had acknowledged failings and again apologised for its mistakes. The FCA report identified a number of failings, including that 92% of viable firms handled by GRG suffered "inappropriate action", such as interest charges being raised or unnecessary fees added.It was cleared in others, according to the report prepared for the regulator.Police conduct inquiries into RBS unitRegulator agrees to RBS report scrut...
Bharat Financial Inclusion preparing pitch for diversification ahead of merger

Bharat Financial Inclusion preparing pitch for diversification ahead of merger

Finance
KOLKATA: Bharat Financial Inclusion, which will soon be merged with IndusInd Bank, is in the process of diversifying into two-wheeler loans and home loans which may help it de-risk the asset portfolio from a monoline micro loan business. Managing Director MR Rao said the new loan products will be offered to existing customers to grow in size but microfinance will remain its core focus and will be crucial to get new customers. “It (diversification) is not a defence mechanism. It has always been a part of a larger plan. We are getting ready to offer more products to our existing customers who have the ability to repay,” Rao said in an exclusive interview. Post-merger, Bharat Financial will work as a business correspondent for the Hinduja group promoted IndusInd while its entire loan por
Your postman may soon become the point of contact for all your financial work. Read how

Your postman may soon become the point of contact for all your financial work. Read how

Finance
NEW DELHI: Come 2018 and the humble postman will be armed with a high-tech device that will enable him to carry out various financial transaction at the door step of people. The India Post Payment Bank, which plans to launch nationwide operations by March 2018, is coming up with a large contract to source such devices for more than 1.5 lakh postmen. The equipment, a micro-ATM of sorts, will have a biometric reader, a printer and a debit card and credit card reader attached to it. A tender for 2 lakh such devices is almost ready and will be released in a month’s time, India Post Payment Bank chief executive AP Singh told ET. Hewlett Packard Enterprise has already been chosen to build the backend for India Post Payment Bank as a system integrator. “The idea is to streamline and focus on
Financial anxiety is bringing Millennials down

Financial anxiety is bringing Millennials down

Finance
Money guide for MillennialsLots of folks worry about money from time to time. But there's a difference between fretting over a larger-than-expected bill and spending a huge chunk of your waking hours stressing over finances. Yet the latter scenario seems to characterize a significant percentage of working Millennials. An estimated 28% of Millennials are experiencing so much financial anxiety, in fact, that it's impacting their job performance on a consistent basis, according to a newly released Northwestern Mutual study. That's more than twice the rate of the general population. Furthermore, 23% of Millennials say that financial stress makes them physically ill on a weekly or monthly basis compared to just 12% of workers among all age groups. Talk about extreme. What's worrying Millennia...