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Cancel Bajaj Finserv RBL Credit Card By A Written Request
Send a letter to your nearest RBL Bank branch requesting the closure of your SuperCard. Your card may need to be sliced in half diagonally across the chip or magnetic stripe, accompanied with a written request.
Cancel Bajaj Finserv RBL Credit Card through customer care
Call 022-71190900 and inquire about closing a credit card with a professional. Submit basic information to verify your SuperCard account, and a representative will begin processing your request.
Cancel Bajaj Finserv RBL Credit Card by visiting the bank branch
Make a cancellation request to an executive at an RBL branch. Make sure you have your SuperCard and some form of identification with you.
When Bajaj Finserv and RBL Bank receive your cancellation request, they check your account to make sure you don’t have any outstanding dues. If you have not yet paid your bill or any other costs, the process will begin once you have done so.
What does R stand for in RBL?
RBL does not exist in its entirety. It was previously known as Ratnakar Bank Limited. It is a scheduled commercial bank based in the Maharashtra state of India’s Kolhapur district. It is one of India’s oldest private banks, having been founded in August 1943. It now serves over 3.5 million customers through a network of 245 branches and 374 ATMs. It provides a diverse range of banking products and services across six verticals:
Its aim is to be a Bank of Choice by cultivating and maintaining long-term relationships with customers, staff, and investors based on trust and respect. Mr Vishwavir Ahuja is the current MD and CEO of RBL Bank (as of 2017).
Can we cancel Bajaj EMI?
All you have to do now is go to your “My Orders” page and cancel the things you’d like to return or cancel. It takes two days for the partners to respond with new term details for the loan after they receive the cancellation request.
Customer Care
The phone number for customer service is 022-71190900. On the Interactive Voice Response, dial the number and push the relevant numbers. When prompted, provide the requested information to verify your identity and complete the credit card cancellation.
Branch Visit
Customers must write and submit a letter seeking credit card cancellation in order to cancel their cards through a branch visit. They must also produce a credit card that has been cut diagonally, as well as evidence of identity.
How do I foreclose Bajaj EMI?
When you settle the loan amount before the legally obligatory due date, this is known as a pre-closure. You can use the steps outlined below to achieve a tidy pre-closure with minimal effort.
- Bring the following documents with you: proof of identity, loan account number, bank passbook indicating all EMI clearances, and a check for pre-paying the amount.
- The lender may apply a foreclosure penalty, which is an obligatory (if issued) charge that must be paid along with the loan.
- The bank will send you an acknowledgement letter with the clearance details after you have paid off the entire loan. Keep that in mind in case you need it in the future.
Also read: What is the difference between simple and compound interest?
Do not overlook or minimize the importance of shutting your loan account, whether it is a regular or pre-closure.
Bajaj Finserv simplifies the loan application process by providing pre-approved offers on a variety of loans, including personal loans, business loans, and home loans, among others. By providing a few simple details, you may check out your pre-approved offer.
Why RBL Bank is going down?
RBL Bank’s stock dropped 10% on Thursday, hitting a new 52-week low, after news surfaced that the bank had written off loans worth Rs 300 crore just seven months after they were approved. At 2:30 p.m., the stock was down Rs 11.60, or 8.04 percent, to Rs 132.70. Earlier in the day, it hit a 52-week low of Rs 130.50. Today’s price drop comes after a media report suggested that a Rs 300-crore loan that was wiped off within seven months of being sanctioned was the key reason for RBI’s rapid intervention in RBL Bank. RBL Bank’s stock has dropped around 26% so far this week.
The National Stock Exchange has banned RBL Bank stock from trading in the futures and options (F&O) sector today (NSE). In recent sessions, it has been on the prohibited list. The present developments have created concerns about RBL Bank’s capacity to sustain a turnaround in its operating performance, according to Motilal Oswal’s latest report, while also raising concerns about similar moves by the regulator on other mid-sized banks with sub-optimal operating performance.
Is RBL Bank Safe 2021?
Assuaging depositors’ concerns about the safety of their funds at RBL Bank “Section 45 of the Banking Regulation Act provides the required protection to depositors,” AIBEA General Secretary C.H. Venkatachalam told IANS.
The Reserve Bank of India (RBI) has the authority under Section 45 of the Banking Regulation Act to petition to the Central Government for the suspension of a banking company’s operations and to develop a scheme for amalgamation reconstitution.
It may be remembered that Lakshmi Vilas Bank (LVB), based in Tamil Nadu, was merged with DBS Bank after the former’s financial situation deteriorated.
While the LVB shareholders received nothing, the depositors’ money was protected.
“When a poor bank is merged with another, the RBI may impose a restriction on deposit withdrawals as well as other requirements. The depositors, on the other hand, will not suffer a loss “Venkatachalam expressed his thoughts.
“The bank maintained a comfortable Capital Adequacy Ratio of 16.33 percent and a Provision Coverage Ratio of 76.6 percent as of September 30, 2021, according to half-yearly audited data. As of December 24, 2021, the bank’s Liquidity Coverage Ratio (LCR) was 153 percent, compared to a legal threshold of 100 percent “The Reserve Bank of India stated.
While Venkatachalam agrees that expansion is crucial for any company, he believes it should be done in stages.
Any company’s core business cycle is grow-consolidate-grow-consolidate.
“The number of RBL Bank branches increased from 196 in 2015 to 462 in 2021. The bank’s operational expenses and deposit base both rose as a result of this. In addition, the credit-to-deposit ratio increased. Banks have a harder time monitoring and recovering minor loans “Venkatachalam expressed his thoughts.
In the interests of the bank or its depositors, RBI can appoint extra directors under Section 36AB.
The RBI stated in the case of RBL Bank that the appointment of Additional Director/s in private banks is made under Section 36AB of the Banking Regulation Act as and when it is believed that the board of directors requires additional regulatory/supervisory support.
However, why did RBI appoint an additional director under Section 36AB of the Banking Regulation Act if the financial situation is stable and strong?
“What is it about RBL Bank that is bothering RBI enough to justify such a move?” Venkatachalam and other experts pondered.
The RBI candidate was already on the board of RBL Bank, according to Venkatachalam, and what that individual did should be considered as well.
(The Business Standard staff may have modified just the headline and image of this report; the remainder is auto-generated from a syndicated feed.)
Is RBL Bank owned by Bajaj?
The capital was raised through an institutional placement at Rs 351 per share, according to a statement released by the bank on Friday. Bajaj Finance, which has a co-branded credit card association with RBL, has invested Rs 150 crore for a 0.87 percent interest, making it one of the major investors in the issue.