Awareness Fridays: Guidelines for Exchanging Mutilated Currency Notes at Indian Banks

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We’ve all had our fair share of receiving torn or soiled currency notes. Sometimes banks refuse to exchange these notes and we’re left fuming since we’ve no idea what the rules are with respect to exchange of such notes. Thankfully, the Reserve Bank of India has published guidelines for exchanging such currency. Click here to […]

Tip Tuesdays: Avoid the “We Can Help You Mimic Warren Buffett’s Style of Investing” Trap

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Warren Buffett is the world’s most successful investor. If you had invested in Mr. Buffett’s company when he started off over 40 years ago, he would have grown your money by 400,863%! In Mr. Buffett we have an investor, who has proven time and again that his approach to investing works. And that’s exactly why […]

Awareness Fridays: Guidelines for Credit Card Operations of Indian Banks

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Reader Shankar asks, Is there any Master Circular issued by the Reserve Bank of India on Credit Cards issued by Indian Banks? There certainly is: Download the Master Circular on Credit Card Operations of Indian Banks. Download an update to the Master Circular. There’s some pretty useful information in these documents. Again, take some time […]

Awareness Fridays: Guidelines for Customer Service in Indian Banks

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The Reserve Bank of India time and again issues various instructions/guidelines in the area of customer service to bring about improvements in the quality of customer service in banks and their branches. But whether banks actually implement these guidelines is a different matter altogether. As bank customers, however, it’s prudent on our part to know […]

Tip Tuesdays: If You’ve Got Overdraft Protection on a Savings Account, Call the Bank and Cancel It Right Now

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Overdrafts are worse than personal loans. They make you spend money that’s not yours. They make the bank rich and you poor. Why would you ever want this to happen? If you’ve got overdraft protection on a personal savings account, call the bank right now and cancel this facility. If you don’t know whether your […]