HDFC Bank on Wednesday reported a 2.3 per cent year-on-year rise in its consolidated net profit to Rs 17,657 crore for the October-December quarter, restricted by slower loan growth. On a standalone basis, the largest private sector lender's net profit came at Rs 16,735.50 crore for the period, up from Rs 16,372.54 crore in the year-ago period, but marginally down from the preceding quarter's Rs 16,820.97 crore.
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!
UPI-related frauds have accounted for a cumulative loss of Rs 2,145 crore across 2.7 million reported incidents.
Deregulation would facilitate better asset-liability management for banks
We as customers have to be conscious and careful to sidestep numerous types of frauds made possible under a mindless shift to a digital ecosystem without customer-redress procedures, warns Debashis Basu.
RBI's deregulation drive on saving interest rates has created a competitive environment.
'Choose an FD tenure that provides a balance between returns and the horizon for which you can invest.'
Earlier, Preity posted about the platform's growing cynicism, especially when people expressed appreciation for public figures.
Reserve Bank of India on Friday said it has imposed a penalty of Rs 93 lakh on Axis Bank for various violations, including those related to KYC guidelines. The central bank has also slapped a fine of Rs 90 lakh on IDBI Bank. A monetary penalty of Rs 93 lakh has been imposed on Axis Bank for non-compliance of certain directions issued by RBI, the regulator said in a release.
In a double-dose bid to boost growth and employment prospects, the Union Cabinet on Tuesday approved a Rs 2.07 trillion outlay for a research development and innovation (RDI) Scheme to fund private sector innovations, and an employment-linked incentive (ELI) to create over 35 million new jobs over the next two years.
Make children realise that money is earned through hard work and used to buy necessary things.
Call centres, once the engine room of India's BPO exports, are evolving too. Depending on the complexity, 30 to 50 per cent of voice and chat volumes are now handled by conversational AI.
Union Finance Minister Nirmala Sitharaman on Monday said people are finding current interest rates "very stressful" and urged banks to make them affordable. Speaking at an event organised by State Bank of India, the finance minister said that at present, India requires industry to ramp up and invest in new facilities, and added that lowering lending rates can help achieve the "Viksit Bharat" aspiration.
The Securities and Exchange Board of India (Sebi) plans to mandate the UPI block mechanism, also known as the ASBA-like facility, in the secondary market for Qualified Stock Brokers (QSBs). QSBs are brokers with larger client sizes and thus more significance in the market ecosystem.
Besides wrong selection of ITR form, many professionals claim deductions they are ineligible for.
Delhi's third woman Chief Minister Atishi, who replaced Arvind Kejriwal after his resignation in September last year, filed her nomination on Tuesday for the upcoming Assembly polls, declaring a net worth of Rs 76.93 lakh, with no car or house in her name. According to Atishi's affidavit submitted to the Election Commission (EC), her movable assets include Rs 30,000 cash in hand, gold jewellery worth Rs 1 lakh and approximately Rs 75 lakh held in bank accounts as fixed deposits and savings. The affidavit also revealed that Atishi does not own any immovable property.
Analysts are of the view that long-term investors could continue to hold the stock, irrespective of the MSCI development.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Withdrawals from basic savings bank deposit accounts are capped at four a month, including withdrawals via ATMs.
Observers say more banks, especially public sector entities, which have a 70 per cent market share, will also join the battle to get more cheap deposits.
'Liquid ETFs help in cash management by enabling a smooth transition between equity and cash within the same settlement cycle, as they trade in the same segment as equity.'
While law-abiding customers are harassed for KYC and have to comply with endless paperwork even to open and close accounts, DHFL could easily open nearly 260,000 fake home-loan accounts, reveals Debashis Basu.
'The way the bank is doing in the past 4-5 quarters, no reason to see why we will not be able to achieve that.'
Investing is not just about setting aside money -- it's about making it work for you, says Ramalingam Kalirajan.
'A credit line on UPI is going to make banks think about credit fundamentally as they digitise the credit process entirely.'
'Save the entire chain of e-mail exchanges so that you have documented evidence to show you informed the bank about the issue.'
When selecting a liquid fund, stick to schemes with an AUM of above Rs 1,000 crore.
Include digital assets in a will, as e-mail and social networking websites don't provide account access to legal heirs.
Net household savings declined sharply by Rs 9 lakh crore to Rs 14.16 lakh crore in three years to 2022-23, according to the latest National Account Statistics 2024 of the Ministry of Statistics and Programme Implementation. The net household savings peaked at Rs 23.29 lakh crore in 2020-21.
The Reserve Bank of India (RBI) has at last rung down the curtain on administered lending rates by freeing the interest rate on savings bank accounts.
By June 2025, financial freedom will be just an ATM away. Pleasantly surprised? But there's more, says Ramalingam Kalirajan
Fintech firm One97 Communications, which owns the Paytm brand, has received support from merchants, and it assured them of continuity of services without any disruption, the company said in a blog on Sunday. The blog post came amid the recent crisis around Paytm Payments Bank Limited (PPBL), an associate company of Paytm, which has been barred by the RBI from accepting deposits or top-ups in customer accounts, wallets, FASTags and other instruments after February 29.
ICICI Bank share price hits record high, ICICI Bank m-cap tops $100 billion: Shares of ICICI Bank have been on a steady uptrend, rising 30 per cent over the past one year; not far behind Axis Bank stock that surged over 34 per cent during the period. The BSE Sensex, meanwhile, is up 25 per cent, and the BSE BANKEX 22 per cent in the last one year, ACE Equity data shows. On Wednesday, June 26, ICICI Bank shares hit a fresh record high for the third consecutive day, rising 2 per cent on the BSE in the intraday trade.
Many of these are group products and don't get tax benefits; compare premiums and products, make sure they fulfil your needs.
Your nearest grocery shop might soon become a one-stop shop for depositing and withdrawing money.
Using ATMs to withdraw money or for other purposes like balance enquiry beyond five times in a month will attract a levy of Rs 20 per transaction from November 1.
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