'The critical event signalling a new era for India was Dr Singh's 1991 Budget in which he quoted Victor Hugo to say that no power on earth could stop an idea whose time has come,' recalls T N Ninan.
By acting now, you can step into 2025 with your finances in order and without unnecessary penalties.
A passenger train was halted after it hit an old iron piece of rail placed vertically in the middle of a track by someone in a suspected sabotage attempt in Gujarat's Botad early on Wednesday, the police said.
The Reserve Bank of India (RBI) announced new rules for credit cards, applicable from July 1. "These directions cover the general and conduct regulations relating to credit, debit and co-branded cards which shall be read along with prudential, payment and technology & cyber security related directions applicable to credit, debit and co-branded cards, as issued by the Reserve Bank," the circular by RBI said. Business Standard culled out key rules from the list, and asked financial experts for advice on them, along with the thumb rules one needs to follow while using credit cards.
Find out how banks and lending institutions decide if you are worth their money based on your CIBIL TransUnion Score and Credit Information Report.
When evaluating bonds, returns shouldn't be the sole factor. Pay close attention to the bond's credit rating. It should ideally be AA or higher.
There may be huge discounts and easy EMI options on your favourite expensive smartphone, but do not swipe your credit card left, right and centre, warns Rajiv Raj
Experts say you should be certain of living in a city and locality for a long time before purchasing a home.
State Bank of India (SBI), India's largest lender, is looking to raise Rs 10,000 crore through 15-year infrastructure bonds as early as next week, said multiple sources aware of the development. Market participants expect a coupon in the range of 7.15-7.18 per cent for SBI's upcoming infrastructure bond issuance. This comes as demand for longer-tenor papers has remained strong in recent domestic capital market offerings.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
'After his warm and affectionate farewell speech, the Chief of Staff of the formation asked me, "So, now you are off to Coorg to look after your coffee estates?"' For the last time, in Army uniform and much to his surprise, I replied, "Sir, I am not from Kodagu.".'
The Reserve Bank of India (RBI) will launch the Unified Lending Interface (ULI) nationwide in due course, aiming to transform India's lending sector, similar to how the Unified Payments Interface (UPI) revolutionised the payments ecosystem, Governor Shaktikanta Das said on Monday.
'A lot of people are famous. But for how long will you be there?' 'It changes after every three days of release, Friday, Saturday, Sunday.'
Private sector bank board members have urged the Reserve Bank of India (RBI) top brass to consider workload management of the boards as they feel there are too many issues that go to the boards for approval and the situation becomes unmanageable at times. The views were conveyed to the regulator on Monday in a conference of directors of private sector bank boards on the theme "Transformative Governance Through Sound Boards". RBI governor Shaktikanta Das, deputy governors Swaminathan J and M Rajeshwar Rao, and other senior officials of the central bank participated in the conference.
In order to be eligible for a loan when you really need one, it is imperative to maintain a good credit score. By having a good mix of debt and servicing it regularly, you can maintain a good credit score and be loan ready at all times.
The Reserve Bank on Thursday said it will come out with a framework allowing borrowers to switch to fixed interest rate from floating interest rate, a move that would provide relief to borrowers of home, auto and other loans reeling under the impact of high interest rate. Unveiling the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said under the framework, to be put in place shortly, the lenders will have to clearly communicate with the borrowers about tenor and EMI. "The supervisory reviews undertaken by the Reserve Bank and the feedback and references from members of public have revealed several instances of unreasonable elongation of tenor of floating rate loans by lenders without proper consent and communication to the borrowers," he said.
For Indian parents, sending a child abroad for a three-year degree could deplete 48% of their retirement savings, while a four-year degree may consume up to 64%.
While you go about it, please note that if it is difficult for you to keep your spending habit in check, all the benefits of getting a credit card limit increase will be pointless.
Maharashtra Bharatiya Janata Party chief Chandrashekhar Bawankule has said his party will throw more weight behind its Mahayuti partners Nationalist Congress Party and Shiv Sena in the upcoming state polls and denied reports of a 'friendly fight' proposal for seats where there is a tussle among allies.
Lenders get a clear idea about your financial health, risk profile and personality trait
Average monthly GST collection rose from Rs 90,000 crore during the first year of its implementation -- 2017-2018 -- to Rs 1.68 trillion during 2023-2024, representing an 87 per cent rise.
While festive offers can reduce costs, borrowers should also consider the lender's transparency and service quality. Customers need to be mindful of their repayment capacity.
The Q2FY25 revenue for Coal India (CIL) was reported at Rs 30,700 crore (down 6 per cent year-on-year or Y-o-Y and 16 per cent sequentially). The blended average selling price was Rs 1,622/tonne (down 6 per cent Y-o-Y and 3 per cent quarter-on-quarter or Q-o-Q). Adjusted operating profit stood at Rs 7,200 crore (down 20 per cent Y-o-Y and 38 per cent Q-o-Q) due to lower-than-expected e-auction volumes and higher costs.
'With tuition fees for international students rising, education loans have become critical for bridging the gap between savings, scholarship, and full cost.'
While HDFC Bank has vowed to recoup its lost market share in the credit card segment in three to four quarters by aggressively sourcing new cards, brokerages believe it is a little hard to come by, given how competitive the landscape has become, with other players in the market becoming equally aggressive to gain market share. Kotak Institutional Equities in its report on Monday said, "We would like to believe that the recovery in market share is likely to be gradual, if any. "All the key players, including Axis Bank, are now willing to expand their credit card portfolios as they have tested quite well against Covid-19."
Manipur Chief Minister N Biren Singh has accused "some agencies with vested interests" of misleading the Centre about the ongoing crisis in the state, calling it an attempt to destabilize Manipur. He emphasized the need for unity among Manipuris and criticized the 2005 Suspension of Operations (SOO) agreement, blaming it for the current unrest. Singh also condemned the recent killing of two non-Manipuris, calling it a politically motivated move to create an atmosphere of fear.
Welbeck extra-time winner sends Brighton into quarters
While Paytm (One97 Communications) is not completely past regulatory hurdles, its share price has gained in the last month or two. The Paytm handle migration is complete along with FDI clearance necessary for the Payment Aggregator (PA) license. UPI consumer data indicates stable market share, and expansion in partner networks in financial distribution. All this implies Paytm could be set to meet guidance of turning Adjusted Ebitda breakeven by Q4FY25 (ex of UPI-incentives).
Self-employed individuals often face hurdles in buying term insurance due to financial documentation that doesn't fully reflect their earnings. This complicates underwriting.
Investors should match their investment horizon with the fund's portfolio duration.
Bisht used the fake profiles to connect with women aged between 18 and 30 years on various onlione dating platforms.
DigiLocker, a government initiative for storing documents and verifying credentials online, is gradually replacing the need for paper.
MMFs invest in fixed-income instruments maturing in less than one year, minimising interest-rate risk.
LIC Housing Finance (LICHF) delivered a healthy FY24 with improvements in net interest margin (NIM) and credit costs and an improved return on assets of 1.7 per cent compared to an average of 1.3 per cent between FY14-FY23. Loan growth was low due to technology upgrades to the platform in H1FY24, though momentum improved in H2FY24. In Q4FY24, the net interest income (NII) came in at Rs 2,250 crore.
Rajiv Raj tells you why a store credit card is not a good idea, even though you are tempted with extra 'savings' of 10 per cent on your purchase or a 5 per cent cash back or a 'sign on bonus'.
Your credit score is more than just a number. Here's how you can read and understand its importance.
You may think that teenagers and credit cards are a recipe for disaster but before you dismiss the idea give it a second thought.
'A mid-year review makes the end-of-year financial review manageable and less stressful.'
Maharashtra recorded the highest number of cases in the country under the Indian Penal Code (IPC) in 2021 at 3,67,218, while Mumbai was placed second among major metropolitan cities in registration of criminal offences, according to a National Crime Records Bureau (NCRB) report.
The Central Bureau of Investigation (CBI) on Wednesday told a special court here that it received a sanction from the ICICI Bank's board to prosecute Chanda Kochhar, the former CEO and MD of the bank, in connection with a case of alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies. The probe agency, represented by special public prosecutor A Limosin, told the court that the board of ICICI Bank in a resolution passed on April 22 this year gave its sanction to the prosecution (against Kochhar), accepting that there seemed to be quid pro-quo.
