Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'We deposited money just yesterday, but they did not say anything...'
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.
Learn to track your ITR's progress and correct any errors.
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
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Indian capital markets are witnessing a boom in IPO activity in 2025, with the current calendar year being expected to be the largest IPO year in India's history, according to India heads of foreign banks on Wednesday.
'I don't know when I will be able to access those funds.'
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.
UPI has catapulted India into the forefront on the global digital payments landscape. Working hand in hand, the AePS payments system is making life easy for rural folks, notes Tamal Bandyopadhyay.
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%.
The exemption of individual life and health insurance premiums from the Goods and Services Tax (GST) enables the insurance industry to make products affordable and attractive, said Ajay Seth, chairman of Insurance Regulatory and Development Authority of India (Irdai) at the Business Standard BFSI Insight Summit 2025.
Payment apps PhonePe and Paytm have helped citizens avert potential financial frauds worth Rs 200 crore by using the fraud risk indicator platform developed by the Department of Telecom, a senior Walmart group official said on Wednesday.
The Gujarat Anti Terrorist Squad (ATS) has arrested a retired Army man and a woman for allegedly sharing sensitive information about military establishments and personnel with Pakistani agents.
'This is an area where good lending can happen, and that is one of the priorities for the next quarter.'
rediffGURU T S Khurana answers readers' personal income tax queries
Those who have binged on credit must spend less, cut discretionary expenses, and focus on repayment.
As per the latest finance ministry data, the total balance in over 36.06 crore Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts was at Rs 1,00,495.94 crore as on July 3.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The RBI advisory follows a labour ministry request earlier this year seeking the central bank's expertise to identify gaps in EPFO's investment strategy and fund management practices, including accounting, risk management, and internal governance.
For far too long, individuals have been at the receiving end of unfair practices from various entities in the financial services industry. Now it's time to stand up and be counted!
Mumbai police have arrested six individuals from Gujarat, dismantling an interstate cyber fraud gang involved in digital arrest scams, including one where a businessman was defrauded of Rs 58 crore.
Deregulation would facilitate better asset-liability management for banks
Debt-ridden telecom operator Vodafone Idea on Monday said its consolidated net loss narrowed to Rs 5,524 crore in the second quarter ended September compared to the year-ago period, mainly on account of savings in finance cost on debt from banks and an increase in average revenue per user supported by a tariff hike.
RBI's deregulation drive on saving interest rates has created a competitive environment.
'Other sectors that manage the savings pools of Indians are giving tough competition to life insurance companies.'
Three laws passed in Parliament could boost central revenues, reshape GST cess flows, shift MGNREGA costs to states and create new budget headroom ahead of the 2026-2027 Union Budget, points out A K Bhattacharya.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'I will not be surprised if there is a 7 per cent handle in front of the decimal place for the full financial year.'
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.
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.
rediffGURU T S Khurana answers readers' personal income tax queries.
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.
After a subdued first quarter of 2025-26 (Q1FY26), banks are now betting big on the festive season, rolling out attractive loan offers to boost credit growth in the second half of the current financial year (H2FY26) - a trend likely to be further accentuated by the second-order effects of the good services tax (GST) cuts.
Before signing up for a BNPL plan, read the fine print carefully and watch for red flags like unclear repayment terms, vague information on interest or late fees, and marketing that downplays the cost of default.
'We extend our heartfelt appreciation for your generous gesture of personally paying the first semester admission fee.' 'We sincerely hope your support to underprivileged students continue.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'A mule operates someone else's account to transfer illegal money.'
