SBI said revision of saving bank rate will enable the bank to maintain MCLR based lending rate at existing rates.
'The outlook for the next Samvat is more constructive, as many of the earlier drags are gradually becoming supports.'
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Here's what Indian investors diversifying into equities, ETFs, and real estate abroad to manage risk, returns, and currency exposure must watch out for.
There are various ways of reducing transaction costs by banks.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Payments banks have urged the Union finance ministry to increase their deposit limit for each account to Rs 5 lakh, according to a source who participated in a meeting, chaired by the Department of Financial Services Secretary M Nagaraju, in New Delhi. At present, they can accept deposits of up to Rs 2 lakh.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Prime Minister Narendra Modi launched a sharp critique of the RJD, emphasizing the hardships faced by women in Bihar under its governance. He highlighted the current government's initiatives for women's empowerment and urged them to prevent the RJD's return to power.
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%.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Net profit of 19 listed banks is likely to decline by 4 per cent year-on-year (Y-o-Y) for the quarter ended March (Q4FY25) mainly due to pressure on net interest margins (NIM) as a result of rate cut by the Reserve Bank of India (RBI), according to analysts' estimates. Additionally, loan growth is expected to further slowdown amid low demand in certain secured products, stress in the unsecured segment, and a high cost to deposit (CD) ratio across the system.
rediffGURU T S Khurana answers readers' personal income tax queries.
rediffGURU T S Khurana answers readers' personal income tax queries.
Bank of Baroda, a state-owned bank, in its quarterly update on Friday said its domestic deposits grew 9.23 per cent year-on-year (Y-o-Y) in October-December (Q3FY25) at Rs 11.65 trillion, while advances increased 11.76 per cent Y-o-Y at Rs 9.63 trillion, outpacing deposit growth during the period. Domestic retail advances grew at a robust 19.5 per cent Y-o-Y to Rs 2.43 trillion.
'The statistical confidence bands of the fan charts of the forecasts will provide a better sense of the potential variability of outcomes.'
People with no knowledge of coding or computer languages can use vibe coding using plain English command with AI-assisted software development.
The bank will give 3.25 per cent interest on savings bank deposits with a balance exceeding Rs 100,000. At present, the interest rate is 3.5 per cent.
The Reserve Bank of India has asked banks to start calculating interest on savings account on a daily basis, starting April 1.
They will also have access to banking channels such as ATM, mobile and Internet banking.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Vidhie Mukerjea, a key witness in the Sheena Bora murder case, denied making a statement to probe agencies, claiming documents in the CBI chargesheet were forged. She also alleged that Rahul and Rabin Mukerjea stole her mother's assets and had a motive to falsely implicate her.
rediffGURU T S Khurana answers readers' personal income tax queries.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
When the market is down, you can buy more units, which offers you the rupee cost averaging. But the question here is, with so many options available in the market, which one should you choose? Keep reading to get the answer.
At the end of the day, this isn't about choosing between EMIs and SIPs. It's about choosing your path to financial freedom.
'A mule operates someone else's account to transfer illegal money.'
Ask rediffGURU Reetika Sharma your insurance mutual fund and personal finance-related questions.
Net NPAs increased to Rs 36,260 crore in the December quarter from Rs 34,843 crore in September and Rs 33,116 crore in December 2023, observes Tamal Bandyopadhyay.
Physical KYC takes anywhere between two to five working days to get done, V-KYC, only a few minutes.
>According to the latest RBI data, PPF receipts have already experienced a decline between April 2023 and February 2024. Other schemes like the Sukanya Samriddhi Account and National Savings Certificate are also witnessing reduced inflows.
The RBI on Wednesday barred Paytm Payments Bank Ltd from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, among others after February 29, 2024.
At present, though the interest calculation is done on a monthly basis, the account holder is paid the amount either at the end of three or six months. And the balance considered while paying the interest is the lowest amount in the account between the tenth and the end of any month. The new guidelines for interest calculation on savings bank accounts will increase returns significantly for account holders.
Long-term tax-saving FDs can also be considered after the PPF limit has been exhausted.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Savings bank account holders are a happier lot. The reason: They will earn more on their deposits from April. However, this isn't good news for banks, as their margins will come under pressure
The fear of losing purchasing power due to inflation and low-interest rates has led many to explore safe alternatives to fixed deposits with high returns
Such a move would have allowed different banks to pay different rates of interest on their savings accounts, like is the case with fixed deposits currently.
Prime Minister Narendra Modi on Friday sounded the poll bugle in Bihar, where assembly elections are due this year, calling for 'an NDA government, once again', which would protect the state from the 'evil intentions' of the Rashtriya Janata Dal-Congress combine.
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