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SBI Credit Cards – Everything You Need To Know About



SBI Credit Cards
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SBI an abbreviation of State Bank of India is an Indian Multinational Public Sector banking body that provides financial services and is a Government Corporation managed by Government of India. SBI provides Credit Card facilities to its account holders to provide them an easier way of payment. There are a few things that a person should know before getting a credit card for themselves.

The bank offers an extensive range of Credit Cards from travel cards to rewards to fuel, SBI Credit Cards come with irresistible perks and benefits for the owner and the card surely complements your lifestyle and helps you save big on your everyday purchases. In total, SBI offers 38 credit cards to its customers with an aim to provide benefits and privileges customized as per their lifestyle. Here I provide you with the basic information required by you about the SBI Credit Cards.


The eligibility criteria to apply for an SBI Bank Credit Card

The eligibility criteria vary from card to card however, the minimum age to apply for any SBI Credit Card is 21 years old. The maximum age limit for both salaried and self-employed individuals extends up to 60 years. Also, you have to make sure you keep a decent Credit Score to qualify for SBI card.

The documents required for an SBI Credit Card

Here’s the list of documents that you need to keep with yourselves while applying for an SBI Credit Card:

Documents for salaried applicants:

  • Identity proof: Aadhaar Card / Passport / Voter ID card / Driving license
  • Address proof: Ration card/Passport/Rental agreement/Electricity /Telephone Bill
  • 6 months’ bank passbook record or last 3 months bank statements
  • Recent salary slip or current salary certificate.
  • Latest Form 16


Documents for self-employed applicants:

  • PAN Card: For Company / Firm / Individual
  • Identity proof: Passport / Aadhaar Card /Voter ID card / Driving license / Pan card
  • Address proof: Aadhaar Card / Voter ID card/ Passport/ Driving license/
  • Latest 6 months bank statements
  •  Recent balance sheet along with profit & loss statements Latest ITR along with computation of income
  • Proof of continuation


Credit Cards that the bank offers:   

  2. Doctor’s SBI Card (in association with IMA)
  3. SBI Card ELITE Advantage
  5. SBI PRIME Advantage
  6. Tata Platinum
  7. Tata Titanium
  8. Simply CLICK
  9. Simply SAVE
  10. SBI Unnati
  11. Central SBI Select+Card
  12. Central SBI Select
  13. STYLEUP Contactless
  14. Capital First SBI card
  15. Simply CLICK Advantage
  16. Simply SAVE Advantage
  17. BPCL SBI
  18. Yatra SBI
  19. Air India SBI Signature
  20. Air India SBI Platinum
  21. Chennai Metro SBI
  22. Mumbai Metro SBI
  23. IRCTC SBI Platinum
  24. Karnataka Bank SBI Platinum
  25. Karnataka Bank SBI Simply SAVE
  26. South Indian Bank SBI Platinum
  27. South Indian Bank Simply SAVE
  28. LVB SBI Platinum
  29. LVB SBI SimplySAVE
  30. Federal Bank SBI Platinum
  31. Federal Bank SBI
  32. KVB SBI Signature
  33. Karur Vyasa Bank- SBI Platinum
  34. Karur Vyasa Bank- SBI
  35. Oriental Bank of Commerce- SBI Platinum
  36. Oriental Bank of Commerce-SBI
  37. Bank of Maharashtra- SBI Platinum
  38. Bank of Maharashtra-SBI

Also, Read > How To Track Your SBI Credit Card Application Online

SBI Credit Card bill payment: 

The bank provides both offline and online options to pay for the monthly Credit Card bill. You can make the payment via online channels like net banking, UPI and NEFT among all the other options. If you prefer to pay the bills offline, you can drop a cheque at any one of the bank’s ATMs and branches in your city or visit any of the SBI Bank branches and pay the bill amount by cash. (Note: For all cash payments, the bank charges a fee of Rs.100 along with the applicable service taxes)

You can contact SBI customer care for any queries regarding reward points, payments, outstanding amount, etc.

I hope that you understand all the basic information required by you to know and you compare all the perks and benefits provided by each of the cards before choosing one for yourself. Let us know any suggestions and your purchase experiences and I hope to provide you with these kinds of information in the future.



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Currency Futures in India | USD INR Futures



Currency Futures
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Meaning of futures:  Future is a type of derivative financial instrument that provides an opportunity for the investors to exchange an underlying asset at a fixed price at a future date which is predetermined today. The investor can trade the underlying asset on the expiry date at the predetermined price regardless of what the current market price is. These are used for speculation or hedging purposes.

Types of Futures contracts

Various types of futures are available in the market:

  • Currency futures
  • Commodity futures
  • Stock index futures
  • Interest rate futures
  • Individual stock futures

Meaning of currency futures

Currency future is an exchange-traded futures contract that determines the price of one currency at which another currency can be bought or sold at a future date. These are legally binding contracts. They are usually used for hedging or speculation activities.

Are currency futures popular in India?

The currency futures were introduced in 2008 in India and since then, the value and volumes have increased steadily. In 2019-20, NSE posted a total turnover of Rs. 41,10,022.58 crores in the currency futures section while the total turnover for the currency derivatives was around Rs. 82,67,678.23 crores. The development in the segment can be measured by the steady increase in the turnover over the years. The total turnover in the currency futures segment in 2008-09 was Rs. 1,62,272.43 crores which rose to Rs. 37,65,105.33 crores in 2012-13 and then to Rs. 46,54,927.35 in 2018-19. The growth in the currency futures market shows the higher demand for price transparency among the investors. The traders in India including both exporter and importer, in genuine have the need to hedge their risk against currency fluctuation.

How to trade in currency futures?

NSE and BSE both have a currency futures segment. Even the Metropolitan Stock Exchange of India (MSEI) has a currency futures segment. All the leading brokers play a major role in this market and one can trade through them. It is very similar to trading in the stock market, the only difference is that the underlying asset, in this case, is a currency cross, i.e., USD INR, instead of normal stocks. Trading can also be done through a trading app of any of the brokers.

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 FATF’s given sharp warning to Pakistan on terror funding



 FATF’s given sharp warning to Pakistan on terror funding
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The Financial Action Task Force (FATF) on Friday warned Pakistan it faced the possibility of being added to the watchdog’s “blacklist” and face greater scrutiny of all transactions in its financial system if it fails to fully implement an action plan to counter terror financing by June.

A statement issued by the multilateral watchdog’s president, Xiangmin Liu of China, ” that all deadlines for the 27-point action plan had expired and expressed concerns at Pakistan’s failure to implement the plan according to agreed timelines”.

The FATF, which has been repeatedly assessing Pakistan’s efforts to implement the action plan since the country was placed on the watchdog’s “grey list” in June 2018, said Islamabad has “largely addressed” only 14 of the 27 action items, with “varying levels of progress” on the rest of the plan.

 The statement said “All deadlines in the action plan have expired. While noting recent and notable improvements, the FATF again expresses concerns given Pakistan’s failure to complete its action plan in line with the agreed timelines and in light of the [terror financing] risks emanating from the jurisdiction.

It added that “The FATF strongly urges Pakistan to swiftly complete its full action plan by June 2020″. Otherwise, should significant and sustainable progress especially in prosecuting and penalising [terror financing] not be made by the next Plenary, the FATF will take action, which could include the FATF calling on its members and urging all jurisdiction to advise their to give special attention to business relations and transactions with Pakistan.”

The FATF listed eight specific areas that Pakistan should focus on while implementing its action plan to address “strategic deficiencies”, including “effective implementation of targeted financial sanctions 1267 and 1373 designated terrorists and those acting for or on their behalf, including preventing the raising and moving of funds, identifying and freezing assets  and prohibiting access to funds and financial services”.

Among the UN-designated terrorists active on Pakistani soil are Lashkar-e-Taiba founder Hafiz Saeed, who was given a five-and-a-half year prison term in two terror financing cases four days before the FATF meetings began in Paris, Jaish-e-Mohammed chief Masood Azhar and mob boss Dawood Ibrahim.


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SBI Cards IPO subscription start  on March 2



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The initial public offering (IPO) of SBI Cards and Payment Services, the credit card unit of the country’s largest lender State Bank of India (SBI) of Rs 9,000-crore, will open for subscription on March 2. The company had already filed draft IPO papers in November last year, obtained “observations” from the Securities and Exchange Board of India (Sebi) on February 11. “The IPO will open for subscription on March 2 and close on March 5,” SBI said in a regulatory filing.

“Further it said that the “SBI has been informed by SBI Cards that, in compliance with applicable law, including, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, Anchor Investors shall bid one working day prior to the bid/offer opening date, being February 28, 2020,”.

Further, the subscription period for qualified institutional buyers (QIBs) will close one working day prior to the closing date on March 4″.

According to the draft papers, SBI Cards will offer up to 130,526,798 equity shares through an offer-for-sale route. This will include up to 37,293,371 share sale by SBI and up to 93,233,427 shares on offer by Carlyle Group. In addition, the company will also issue fresh equity shares of Rs 500 crore.

SBI holds 76 percent in SBI Cards and the rest of the stake is held by Carlyle Group. SBI Cards is the second-largest credit card issuer in India with an 18 percent market share. SBI Cards was launched in October 1998 by SBI and GE Capital. In December 2017, State Bank of India and The Carlyle Group acquired GE Capital’s stake in the Company. ISTSBI holds 76 percent in SBI Cards and the rest of the stake is held by Carlyle Group. SBI Cards is the second-largest credit card issuer in India with an 18 percent market share.

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Top trading strategies for beginners



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Are you interested in investing? Many people are interested in investing, but they are not aware of the investment type they should select. Most investors in Hong Kong suggest ETFs because they believe it is one of the best options for naïve investors. When you are not aware of the market, you will struggle, but if you have selected ETF, you will not find it complicated. Of course, it will be confusing and a bit difficult initially, but for beginners, there will not be a better choice. You can enjoy a lot of benefits if you select this type of investment.

The abundant liquidity is one of the main reasons why you should select ETF as a beginner. But that’s not all; there are many other reasons such as low expense ratio, investment choices, low investment threshold, diversification, and the list will go on. We don’t sugarcoat things, so you should know that ETFs have disadvantages as well. However, many features make ETFs the perfect investing vehicle. As a beginner, you must know the top trading strategies, so let us help you.

Trade with a high-end broker

Before you start to develop your trading strategy, you must find a high-end broker like Saxo. Never think you can make a huge profit from this market by trading the market with the low-end broker. Once you find such a broker, it’s time to develop your trading strategy. Some of you might buy an expensive trading system from a pro trader but it will never help. You need to stick to your trading rules and trade the market with proper logic. Forget about aggression and trade the market in a conservative way. Take your time and within a short period, you will become successful at trading.

Dollar-Cost Averaging Strategy

This is the basic strategy that any beginner can try if they are trading Exchange traded funds.  The dollar-cost averaging technique is pretty simple, which is why beginners should start their journey with this. Instead of this, if you try to use any other complicated strategies, you might assume that trading is hard. Even though it is not the case, the strategy that you select has a huge impact on your trading journey. Hence, don’t take it lightly. This particular strategy is about purchasing a fixed-dollar amount of assets on a fixed schedule, even if the asset cost changes, this will continue. Normally, beginners are youngsters with a stable income source so you can set aside a certain amount and invest it in ETFs instead of looking for low-interest savings. It is important to look at the benefits and drawbacks when you are making a decision. If you do, you will be able to make the right decision.

Asset Allocation Strategy

This is another top strategy that you must try as a beginner. This is about diversification. You might have to allocate a particular portion of your portfolio to other categories such as bonds, commodities, bonds, stocks, and cash. It is pretty easy to understand the reason why you must consider this strategy. If you want to diversify your risks, this is the best method you can find. As per the asset allocation of the beginners, the rate of risk will also reduce.

The seasonal trending bet

A beginner’s best tool is the seasonal trending bet so they can capitalize on it. You must make sure to dig deeper into the information and seasonal trends so that you can understand more about it before betting on it.

There are many features and advantages of ETFs, so if beginners are trading, they can consider ETF as the best choice. There are many strategies for trading ETFs, but the ones we mentioned above are great for beginners. The main reason is the simplicity of the strategies. Hence, you must utilize these strategies in trading.

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World richest Jeff Bezos will spend $10 billion to fight with climate change



World richest Jeff Bezos will spend $10 billion to fight with climate change
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Amazon founder Jeff Bezos said Monday that he “plans to spend $10 billion of his own fortune to help fight climate change”. Bezos, the world’s richest person, said in an Instagram post that “he’ll start giving grants this summer to scientists, activists and nonprofits working to protect Earth”. Bezos said in the post “I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change,” .

Amazon, the company Bezos runs, has an enormous carbon footprint. Last year, Amazon officials said “the company would work to have 100% of its energy use come from solar panels and other renewable energy by 2030”.

The online retailer relies on fossil fuels to power planes, trucks and vans in order to ship billions of items all around the world. Amazon workers in its Seattle headquarters have been vocal in criticizing some of the company’s practices, pushing it to do more to combat climate change.

Bezos said in the “post Monday that he will call his new initiative the Bezos Earth Fund. An Amazon spokesman confirmed that Bezos will be using his own money for the fund”.

Despite being among the richest people in the world, Bezos only recently became active in donating money to causes as other billionaires like Bill Gates and Warren Buffett have done. In 2018, Bezos started another fund, committing $2 billion of his own money to open preschools in low-income neighborhoods and give money to nonprofits that help homeless families.

Bezos founded Amazon 25 years ago, has a stake in the company that is worth more than $100 billion. In September, Bezos announced Amazon’s climate pledge to get the company carbon-neutral by 2040, 100% renewable energy by 2o30, and 100,000 electric delivery vehicles by 2030.

The move follows pressure from Amazon employees to push the company to do more to fight climate change. More than 350 employees signed a Medium blog in January calling for net-zero emissions by 2030, among other requests.

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