Private sector lender IDFC First Bank has lowered its savings account rates and introduced new slabs for small and medium balance categories, effective January 9, 2025, as per its website. The interest slabs and rates for higher balance accounts remain unchanged. Despite the revision, the bank continues to offer one of the highest savings account interest rates in the industry among mid-sized banks.
Most members of the Reserve Bank of India's Monetary Policy Committee (MPC) expressed concerns about inflation becoming generalised and highlighted uncertainties surrounding both inflation and growth prospects due to the West Asia conflict, according to the recently released minutes.
The move is to strengthen oversight, improve compliance, and boost patient confidence.
'India has initiated a bear market and we will still go lower. It has nothing to do with the economy.'
Madhya Pradesh Congress MLA Rajendra Bharti has challenged his conviction and three-year jail sentence in a cheating case involving forged bank records. The Delhi High Court has issued a notice to the prosecution and scheduled a hearing for April 15.
Satluj is a chilling reminder of what happens when a state is allowed to become judge, jury and executioner, asserts Sreeju Sudhakaran.
Indian benchmark indices Sensex and Nifty recovered early losses to trade higher, supported by encouraging developments on the geopolitical front, specifically the US-Iran peace deal, and easing crude oil prices.
Students and families must stress test repayment capacity based on Indian salary standards.
'But two things worked against them: People kept coming forward, and -- crucially -- these were not outsiders.'
The smartphone goes on sale from June 19 via Amazon and will be available in Asphalt Black, Nitro Blue and Turbo White finishes.
Maharashtra BJP MLC Pravin Darekar announced the launch of 'Devabhau' and 'Chhava' cooperative taxi services in Mumbai, aiming to counter private aggregators and benefit drivers directly, but the scheme has drawn sharp criticism from social activist Anjali Damania and the Opposition Congress over the proposed use of Mumbai Bank funds and its political branding.
The rupee has been among the The RBI uses the Iran-US peace deal to bolster its forex reserves.
Indian benchmark equity indices, Sensex and Nifty, extended their rally for a fifth consecutive session, driven by optimism surrounding a potential US-Iran peace deal and a significant drop in crude oil prices. Despite hawkish remarks from the US Fed, investors remain hopeful that easing energy prices could temper inflationary pressures.
India's remittance inflows have remained robust despite the West Asia conflict, driven by precautionary transfers and diversification of remittance sources, with bankers expecting continued stability for the year.
Indian bank credit expanded by 16.08 per cent year-on-year in FY26, marking its fastest pace since FY24, while deposits grew by 13.47 per cent, according to RBI data. Experts caution that year-end figures may be inflated due to reporting date changes, but acknowledge strong momentum in corporate, MSME, and retail segments.
Foreign Portfolio Investors (FPIs) have withdrawn over Rs 62,853 crore from Indian equities in the first fortnight of June, bringing the total outflows for 2026 to Rs 2.87 lakh crore, surpassing the entire 2025 figure, driven by geopolitical tensions, global economic growth concerns, and a weakening rupee.
"It is quite possible that the rates will remain low in the near to medium term, but that will depend on how conditions evolve," said RBI Governor Sanjay Malhotra.
Banks are depending more heavily on the market for certificates of deposit (CDs), whose worth climbed to a record Rs 5.75 trillion in the fortnight to January 15, owing to deposit tightness in the system.
Indian equity benchmark indices Sensex and Nifty closed lower on Thursday, driven by escalating tensions between the US and Iran, persistent foreign fund outflows, and concerns over rising US inflation.
Global oil prices fell on Thursday to their lowest levels since before the outbreak of the Iran conflict, offering a significant economic tailwind for India, the world's third-largest crude importer, by easing inflation risks, reducing the import bill and improving the government's fiscal position.
A potential US-Iran peace deal, expected to be signed on June 19, is anticipated to ease geopolitical stress and benefit various sectors, particularly in India, with analysts suggesting investors await finer details before making significant moves.
Madhya Pradesh Congress MLA Rajendra Bharti has been disqualified from the state legislative assembly after being convicted in a bank fraud case involving the tampering of bank records. The disqualification has sparked a political row, with the Congress party alleging a violation of democratic process.
Analysts predict that developments in US-Iran negotiations, fluctuations in crude oil prices, and key global economic data will be the primary drivers of gold and silver prices in the coming week, with a strong focus on talks in Switzerland.
Rising stressed debt and past exposures like Reliance Capital, Yes Bank push EPFO to frame exit rules for its portfolio.
Investors should do thorough due diligence when selecting a platform.
It is an unusual choice to depute a retired general for the funeral of a revered religious figure but a thoughtful one in an attempt to inject verve into the bilateral relationship and restore the equilibrium in India's West Asian policies, notes Ambassador M K Bhadrakumar.
'The real shock is going to be from a deficient monsoon.'
Madhya Pradesh Congress MLA Rajendra Bharti has been disqualified from the state legislative assembly after being convicted in a bank fraud case involving the tampering of bank records to secure illegal interest payments.
A DRDO employee in New Delhi was defrauded of over Rs 15 lakh in a sophisticated online investment scam involving fake work-from-home tasks and promises of high returns. Police have arrested three individuals from Haryana and Rajasthan who played different roles in facilitating the movement of the illicit funds, with further investigation ongoing.
The Reserve Bank of India (RBI) has opted to keep its key interest rates unchanged at 5.25%, anticipating a global economic recovery following a ceasefire in the US/Israel-Iran conflict, despite ongoing inflationary pressures and currency fluctuations.
The Indian government has maintained the interest rates on small savings schemes, including PPF and NSC, for the eighth consecutive quarter, starting April 1, 2026.
The net liquidity surplus in the banking system fell to Rs 16,875 crore on Thursday the latest data by the Reserve Bank of India (RBI) showed, lowest since 22 January.
Global investment firm KKR remains optimistic about India's long-term growth, citing rising incomes, premiumisation, financial deepening, and demand for quality services as key drivers for its consumption story, even as higher energy prices and AI disruption pose near-term challenges.
A Delhi court sentenced Madhya Pradesh Congress MLA Rajendra Bharti and a former bank employee to three years' imprisonment each in a cheating case involving the forging of bank records to obtain illegal interest payments between 1998 and 2011.
The Nifty 50 firms' contribution to the overall earnings of India Inc has steadily declined, reaching its lowest share in at least 21 quarters at 47.1 per cent in Q4FY26, down from 51.8 per cent a year earlier.
The Reserve Bank of India (RBI) has reported a significant increase in the use of the Indian Rupee (INR) for import and export invoicing and settlement, highlighting its growing internationalisation and mutual benefits for trading partners.
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After a 25 basis point rate cut in December, the RBI on Friday decided to pause on the policy rate front amid geopolitical uncertainties.
A foreign brokerage warns that sustained crude oil prices above USD 100 per barrel could push India's inflation above the RBI's tolerance level, potentially triggering interest rate hikes.
India's economy registered a robust 7.7 per cent growth in the fiscal year 2025-26, an increase from 7.1 per cent in the previous year, with the January-March quarter alone seeing a 7.8 per cent expansion.
