Should India regulate Google, Apple app stores? developers say yes

  • Last month, the country set a global precedent by passing a legislation which forces Google and Apple to open their app stores to alternative payment systems.
  • Apple and Google also said they would charge a lower 15% commission from developers with less than $1 million in yearly revenue from app payments.
  • Now we have the South Korean legislation which directs Apple and Google to allow developers to have alternate payment methods within their app.

Third-party apps turn on UPI autopay mode

  • Autopay allows users to make recurring transactions below Rs 5,000 through UPI apps.
  • You can now set up automatic monthly payments for your Netflix or Hotstar subscription without a debit or credit card, thanks to UPI. The feature, which was launched more than a year ago, is finally being adopted by large merchants and the most popular UPI apps.
  • While UPI Autopay was officially launched in July 2020, only bank UPI apps such as those of SBI, HDFC Bank, ICICI Bank and Paytm Payments Bank were processing such transactions.

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Top 5 Personal Finance Apps in 2018

Personal Finance Apps
Managing personal finance is neither exciting nor easy. However, it is important to keep a tab of your expenses and build a decent financial portfolio. There are several apps available in the app ecosystem that will take care of several financial aspects such as managing your expenses, creating a budget, automatic bill payment and much more. Let’s take a look at some of the top apps that aim to help you with your financial woes.
Top 5 Personal Finance Apps:

1. BankBazaar

BankBazaar is a great option for people who are looking to manage their finances more seamlessly. The app works like a personal assistant and offers budget and money management features. In addition, it offers information on several products ranging from loans, insurance to credit cards. Here are some of the features and functions of the BankBazaar App:

  • The app has a dedicated personal finance section that lets you manage your finances seamlessly.
  • It shows your last five transactions and even offers bank balance and bank summary in detail.
  • The app displays your net balance, total spends, tracks incomes and expenses for better money management.
  • Personal tracker also keeps a tab on your EMI payments.
  • Compare and apply for loans, credit cards and fixed deposits.
  • Latest news and developments in the financial sector.
  • Check your credit score for free.
  • Get 101 tips about finance that includes blogs, research articles, and motivational quotes.
  • Receive customised offers and discounts depending on your financial product.
  • Get alerts for gold, petrol and diesel rates in major cities.
  • Simple and responsive app user interface.

Available on: Android / iOS
Cost: FREE

2. Mobills: Money Manager

Mobills is a budget planner app that helps you create a customised monthly budget. The app not only tracks your monthly spends but also makes adjustments to your budget as per your needs. You can add all your incomes and expenses in the app for better money management. It will offer graphical representation of your monthly spends  in various categories for better understanding of your finances. You can also search all your previous records. It helps you  prioritize your expenses so you don’t fall behind your bill payments.
Available on: Android / iOS
Cost: FREE

3. Money Lover: Budget Planner

Another app that will help you achieve your financial goals is Money Lover. In addition to managing your incomes and expenses, the app plans budgets and lets you control all your bank accounts. Once you connect your cards to the app, it will label all your expenses into categories like food, shopping, salary and so on. The app will offer graphs and pie charts to represent your incomes and expenses. Considering your expense habits, Money Lover will predict your expenses for the future. It can help you plan budgets for your card payment transactions. You can even schedule your bill payments from the app.
Available on: Android / iOS
Cost: FREE

4. Monefy – Money Manager

With Monefy you can add new expenses and incomes on the go. The app has a widget that can be used on the lock screen for quickly adding expenses and referring them. You can customize categories as per your needs and add your expenses. Another highlight of the app is the ability to sync your data between devices with your own Dropbox account. The budget mode comes in handy to plan your monthly expenses. Your financial records can be safe as the app can be password protected. Multiple account support, built-in calculator are some of the features of the Monefy app.
Available on: Android / iOS
Cost: FREE

5. Money Manager Expense & Budget 

The app will assist you in tracking your expenses and generate reports on your spending. You can manage your assets and plan a budget. A graph of your expenses and budget is also offered in the app. The app lets you connect your debit card with your account for automatic debits. It allows you to manage term deposit, loan and salary with automatic transfer features. The app lets you backup files in Excel.
Available on: Android / iOS
Cost: FREE
So, if you are planning to improve your finances and have a better wealth management system do check out the aforementioned apps. They will help you work towards your desired financial goals in the long term.