Finance Minister Jaswant Singh said on Tuesday that his ministry was considering offering senior citizens interest rates that are higher than market rates.
For high networth individuals, IRFs could be a good hedge against loans or existing fixed deposits.
State Bank of India has hiked the interest rates offered on non-resident Indian deposits with effect from Friday.
Retail inflation slipped to 1.54 per cent in September from 2.07 per cent in the preceding month mainly due to subdued prices of food items, including vegetables and pulses, according to government data released on Monday. The consumer price index (CPI) based inflation was 5.49 per cent in September 2024.
The Central Board of Trustees of Employees Provident Fund is likely to defer a decision on interest rate to be given to its more that 4 crore (40 million) employees this fiscal.
Reserve Bank will hold its first bi-monthly monetary policy review for 2016-17 on Tuesday.
RBI retained the GDP growth for the financial year 2018-19 at 7.4 per cent.
South Korea's HD Hyundai, one of the world's largest ship manufacturers, is planning to build a shipyard in Thoothukudi. The project may see an investment of around $2 billion, said a government source.
Bankers have requested RBI to keep interest rates stable this fiscal, in lieu of sufficient liquidity in the system.
Attractive investment options available in the current market for retail investors.
Those who have binged on credit must spend less, cut discretionary expenses, and focus on repayment.
'A balanced portfolio mix of domestic and international equity, fixed income, and precious metals is recommended.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
BSE Realty, Capital Goods and Consumer Durables indices were down by 3% each.
In his book, former governor Subbarao says Chidambaram, Pranab were piqued by his tight rate policy.
The apex bank in its monetary policy for 2010-11 hiked the repo and the reverse repo to 5.25 per cent and 3.75 per cent, respectively, and the CRR to 6 per cent.
The Bank of Japan on Friday hiked interest rates from virtually zero (0.069 per cent) to 0.25 per cent.
Among Sensex firms, Maruti, Axis Bank, Larsen & Toubro, ICICI Bank, Bharti Airtel, Infosys, Adani Ports and Hindustan Unilever were the laggards. However, Titan, State Bank of India, Eternal and Trent were among the major gainers.
Punjab National Bank on Monday reduced the interest rates on housing loans. Under the floating option, 8% interest will be charged on loans repayable in 5 years, 8.75% for 5-10 years, 9.25% for 10-20 years and 9.75% for 20-25 years.
Real estate developers and home buyers will feel the pinch of higher interest rates, which could slow down home sales. Higher interest will push up monthly installments for home loans for existing as well as new home buyers.
While freeing interest rates on savings bank accounts, the RBI has said that banks will have to offer a uniform interest rate on deposits of up to Rs 100,000.
'Maintain a balanced approach with a preference for short-to medium-duration funds.'
Almost a decade after India shifted to a formal inflation-targeting regime under the Monetary Policy Committee (MPC) framework of the Reserve Bank of India (RBI), a high-level panel of economists said that the flexible inflation targeting has largely worked in keeping it under control and no major revamp is required.
'They are a poor fit for anyone with near-term goals, low volatility tolerance, or a need for steady income or liquidity.' 'First-time investors should typically avoid them.'
Gold prices are likely to remain in a consolidation phase in the near term, but the overall bias will continue to stay positive amid heightened expectations of a US Federal Reserve rate cut in its September policy meeting, analysts said. Traders will closely track US macroeconomic data, such as Q2 GDP, PCE inflation, and speeches from Fed officials, which will provide more insights into the monetary policy stance of the Federal Reserve and the trajectory of the bullion sentiment, they added.
The government on Wednesday said interest rates on post office savings schemes, except the PPF, will remain fixed throughout the term of the scheme.
Canara Bank has reduced the floating and fixed home loan interest rates, as also rates of auto loans and other personal loan products, with effect from Wednesday.
The IPL 2026 auction is gearing up for a blockbuster showdown, with 350 players fighting for just 77 spots including 31 overseas berths in what promises to be one of the most competitive bidding wars yet.
The cost of any flight from Delhi and Mumbai could rise by up to Rs 3,000 soon unless the airport regulator is able to reverse a court order.
India's housing finance sector is riding a wave of post-pandemic revival, driven by policy support, digital innovation, and growing demand from younger homebuyers in emerging cities.
'Revolving credit without full repayment causes interest to outpace repayment capacity, and leads to financial distress.'
To boost the economy, the RBI has taken a slew of measures since September last year, including cuts in the cash reserve ratio and short-term lending (repo) rate, to inject funds into the system and signalled a soft interest rate regime. PSU bankers' meeting is being held in the backdrop of the third quarterly review of monetary policy by the Reserve Bank of India.
Amid declining growth and moderating inflation, the Reserve Bank of India is likely to pause hike in interest rate at the mid-quarterly review of the Monetary Policy on Friday.
Real Kashmir Football Club is heartfelt and strong performances keep it afloat, but it's a missed opportunity to tell a wholesome tale, notes Norma Godinho.
RBI is likely to continue with its tight monetary policy.
India plans to launch trading of government bond futures within the next two months as part of efforts to deepen its financial markets, according to several sources involved in the discussions with the central bank.
Stock market investors this week would track the renewed tariff tensions between the US and China, domestic inflation data, besides, quarterly earnings from blue-chips HCL Tech, Infosys and Reliance Industries would also drive the momentum in equities, analysts said.
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