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To fuel its growth requirements, the company has secured over Rs 50 crore in two independent debt financing rounds led by Tata Capital and Nuvama Asset Management. BankBazaar, which has raised around $116 million in equity so far, is also in the process of raising another round of equity in the ongoing Series D2 round.
Earlier this week, cardholders reported unauthorised transactions and receiving OTPs for transactions they didn't make, including international charges on their Axis Bank credit cards.
For instance, if you take a dropline overdraft facility with an initial limit of Rs 6 lakh for 3 years with annual dropline, you will be able to withdraw up to Rs 6 lakh any time or many times before the year ends. However, the limit will be reduced to Rs 4 lakh after the first year; to Rs 2 lakh after 2 years; and it will eventually come down to zero after 3 years.
This year’s survey, which included 1675 respondents across India between the ages of 22-45 years, reported that mutual funds are the second most-preferred investment in India, chosen by 54% of the survey respondents.
BankBazaar.com IPO: In a year of global headwinds, a spiking repo rate (rate at which RBI lends money to banks) and high inflation, BankBazaar said it continued to consolidate its position in the unsecured lending space even as retail credit expanded strongly, backed by strong consumer credit demand.