The RBI will now charge banks different deposit insurance fees based on how risky they are, allowing safer banks to pay less premium.
The revised ceiling will be within the Rs 10 lakh mark.
Currently, deposits of up to Rs 5 lakh are covered under the deposit-insurance scheme.
The Motor Accident Claims Tribunal (MACT) in Thane has awarded a compensation of 31.65 lakh to the family of a vegetable vendor who died in a road accident in 2017.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
An assistant executive engineer in Odisha was arrested by the Vigilance Department for allegedly possessing assets disproportionate to his known income sources.
The Motor Accident Claims Tribunal (MACT) in Thane has awarded 24.05 lakh compensation to the family of a tanker driver who died in a road accident in 2010. The insurance company's claim that the petition was time-barred was dismissed.
'Money is not just about greed or accumulation. It gives you freedom, dignity and choice. And you have every right to all three.'
At present, bank depositors get an insurance cover of Rs 1 lakh on their amount by the Deposit Insurance and credit Guarantee Corporation.
Investors are moving away from the commercial paper (CP) market towards certificates of deposit (CDs), as primary CD issuances and rates on these short-term instruments rise.
'LIC will reduce but not fully exit its stake in IDBI Bank, which remains an important bancassurance partner,' says LIC of India' MD and CEO R Doraiswamy.
India's household debt climbed to 41.3 per cent of gross domestic product (GDP) at the end of March 2025, marking a sustained rise from its five-year average of 38.3 per cent, with consumption-related loans accounting for bulk of the borrowings, the Reserve Bank of India (RBI) said in its Financial Stability Report.
The government would be ironing out issues related to the controversial 'bail-in' clause in the earlier Bill, explore hiking the deposit insurance cover of customers, and decide whether the resolution framework should apply to public sector banks.
'Credit growth in India remains in double digits, even though corporate borrowing is subdued.' 'Corporate credit is weak because companies are cash-rich and cautious amid global uncertainty.'
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
'Other sectors that manage the savings pools of Indians are giving tough competition to life insurance companies.'
While EPF rewards patience and compounds your money, inflation decides how far your money really goes.
Use these loans to meet emergency needs, and not to fund holidays or luxury purchases.
The most common mistake is investing without assessing suitability and long-term implications.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
Farmers in some villages of Maharashtra's Akola district claimed to have received as little as Rs 3 and Rs 21 as compensation under a central insurance scheme for the crop losses they suffered due to heavy rains, and called the aid as 'insulting' and 'mockery' of their plight.
EPF doesn't just build your retirement fund -- it also provides free life insurance up to Rs 7 lakh under the EDLI scheme.
As the government moves to revamp India's securities legislation, unifying three different laws into the Securities Markets Code (SMC), regulatory experts and market insiders have raised concerns on potential funding challenges for the stock market regulator.
'Having a separate healthcare corpus is extremely important even for those already covered by health insurance.'
'The tragedy underscored 'serious and widespread' weaknesses in the EPFO's monitoring system and its ability to detect and act against defaulting establishments.'
The decision assumes significance in the wake of a scam in the PMC Bank affecting lakhs of customers who are facing difficulties in withdrawing their money due to restrictions imposed by the Reserve Bank of India.
So, the next time someone tempts you with a slightly higher FD rate from a lesser-known bank, point them to hybrid funds that can deliver extra returns without the administrative and emotional rollercoaster.
Sectoral funds, focused exclusively on public sector banks (PSBs), have delivered the strongest returns among domestic mutual fund (MF) categories over the past six months. However, active banking funds have significantly lagged because of their heavy tilt towards private lenders.
Given that a sizeable part of this money is part of the coveted current accounts and savings accounts, it is surprising that banks are not in a hurry to revive these accounts, notes Tamal Bandyopdhyay.
Who pays what into EPF, EPS, and EDLI -- the 12% math explained.
'Corporates now have multiple funding sources beyond banks, and many are sitting on large cash reserves.'
'The impact of CBDC on deposits and deposit insurance is largely unknown.'
Finance Minister Nirmala Sitharaman on Tuesday allayed apprehension that privatisation of state-owned banks would hurt financial inclusion and national interest. She said the bank nationalisation done in 1969 has not yielded the desired result as far as financial inclusion was concerned.
'I don't know when I will be able to access those funds.'
If a bank shuts down, every account holder it has will get back their money for a maximum limit of Rs 5 lakh. It was Rs 1 lakh before.
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
The Union Cabinet on Wednesday approved amendment to the DICGC Act to provide account holders access to up to Rs 5 lakh funds within 90 days of a bank coming under moratorium to ensure timely support to depositors. Last year, the government raised insurance cover on deposit five-folds to Rs 5 lakh to provide support to depositors of ailing lenders like Punjab and Maharashtra Co-operative (PMC) Bank. Following the collapse of PMC Bank, Yes Bank and Lakshmi Vilas Bank too came under stress, leading to restructuring by the regulator and the government.
Those who have binged on credit must spend less, cut discretionary expenses, and focus on repayment.
While the economy will wait for a rate cut in December, the banking industry should be happy with the wave of liberalisation -- a big push for growth in bank credit, points out Tamal Bandyopadhyay.
EPF nominations decide inheritance -- here's what happens if you don't file.
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