Diabytes
BankBazaar News
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As per the data by BankBazaar, new and small banks are providing higher interest rates against the established players.
The data revealed that small finance banks like AU Small Finance Bank, Equitas Small Finance Bank and Ujjivan Small Finance Bank were providing interest rates up to 7%.
Besides that the DCB bank offered up to 6.75% interest rate, followed by RBL Bank (6.25%) and Bandhan Bank (6%).
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BankBazaar entered the Singapore market in early 2016 with an initial outlay of Rs 1 crore, which was followed by a Rs 5 crore investment in September last year.
Online financial marketplace BankBazaar aims to expand its workforce to over 1,250 people by March 2016 in a bid to strengthen its business.
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As an ever-growing number of consumers flock to e-commerce websites for their shopping needs, regulator Sebi is considering allowing sale of mutual funds through these platforms to deepen this market.
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