Tag: money

PMC Bank collapse: ‘We lost our money and then our son’

image copyrightGetty Images When India’s Punjab and Maharashtra Co-operative Bank (PMC) went under in 2019, nearly a million depositors were cut off from their life’s savings. One year later, many are still waiting for their money, reports the BBC’s Nidhi Rai. On 20 September, 2019, Raunak Modi deposited all his money – and that of his family’s – in an… Read more →

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The woman who wants to make kids better with money

Image copyright Louise Hill Image caption Louise Hill was inspired by her own children spending too much money The BBC’s weekly The Boss series profiles different business leaders from around the world. This week we speak to Louise Hill, founder of GoHenry, a banking business that provides debit cards for children. Standing on the touchline as her son played football,… Read more →

Coronavirus: Debt letters ‘make money problems worse’

Image copyright Rachel Edwards Image caption Rachel Edwards is now on a debt management plan Rachel Edwards has faced mental health difficulties for decades. Bouts of depression have also brought financial problems for the 43-year-old grandmother. She believes that letters, warning about falling behind on debt and which lenders are compelled to send by law, are often counter-productive. “You get… Read more →

Could you have to pay your bank to save money?

Image copyright Getty Images Image caption High street banks in countries with negative interest rates have so far been reluctant to pass them on to customers Countries are being forced to use extreme measures to keep the economy afloat amid the coronavirus crisis. Now, the Bank of England has signalled that it may take the cost of borrowing below zero.… Read more →

Coronavirus: Where do governments borrow money?

Image copyright Getty Images The government has taken wide-ranging steps to try to limit the economic impact of coronavirus. But measures such as the furlough scheme will be expensive. And government income is down because, when people earn and spend less, they don’t pay as much income tax and VAT, for example. That means the government will have to borrow… Read more →