Physical KYC takes anywhere between two to five working days to get done, V-KYC, only a few minutes.
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.
rediffGURU T S Khurana answers readers' personal income tax queries.
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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.
'A mule operates someone else's account to transfer illegal money.'
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 statistical confidence bands of the fan charts of the forecasts will provide a better sense of the potential variability of outcomes.'
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.
People with no knowledge of coding or computer languages can use vibe coding using plain English command with AI-assisted software development.
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.
>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.
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.
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.
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.
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.
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.'
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At the end of the day, this isn't about choosing between EMIs and SIPs. It's about choosing your path to financial freedom.
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!
Deregulation would facilitate better asset-liability management for banks
RBI's deregulation drive on saving interest rates has created a competitive environment.
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The number of cyberfraud cases has skyrocketed from 2,677 in 1999-2000 to 29,082 in FY24 -- more than a 10-fold increase. The RBI pegs digital payment frauds at Rs 1,457 crore in FY24, up more than five times in a year. It's not just the number of frauds. What's alarming is the growing sophistication of the fraudsters, exposing the vulnerabilities within the financial system, observes Tamal Bandyopadhyay.
Fraudsters read your mind, weave convincing stories, earn your trust and then vanish with people's savings. Ramalingam Kalirajan reveals five simple tricks that cons use to steal money from you.
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
The Supreme Court judges' filings revealed a generally conservative financial ethos, emphasising stability and long-term savings.
As per the advisory of cyber-security agency CERT-In, a digital arrest is the one in which victims receive a phone call, an e-mail or a message claiming they are under investigation for illegal activities, such as identity theft or money laundering.
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.
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.
The cost of deposits is on the rise, but banks can't raise interest rate on close to 60% of their loan books, points out Tamal Bandyopadhyay.
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.
They don't just want better returns -- they're looking for global opportunities, more variety and smarter ways to grow their money, says Soubho Moulik, CEO, Appreciate.
rediffGURU T S Khurana answers readers' personal income tax queries.
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