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.
The Pradhan Mantri Awas Yojana-Grameen has the highest unutilised amount (Rs 13,111 crore) compared to any other centrally sponsored scheme.
State Bank of India, Adani Ports, Tata Consultancy Services, ICICI Bank, Reliance Industries and PowerGrid were also among the laggards.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
Rediff.com spoke to registered investment advisors to figure out how best the extra Rs 17,500 saved ever year can be invested to create a decent corpus in the years ahead. This is what they said.
>It's not easy to predict the market. But there are at least two positive factors to back the PSU banks, explains Tamal Bandyopadhyay.
While the RBI deregulated interest rates on fixed deposit schemes in 1997, it continues to fix the rate on savings deposits.
'With a very stable technology with limited functionalities, a large network has spanned out.'
10 largecaps stocks which stand to gain from the Budget.
Every banker loves the four-letter word Casa as it plays an important role in lowering the cost of deposits. Every bank wants to increase its Casa, as a higher portion of Casa in the overall deposit liability brings down its cost of money, points out Tamal Bandyopadhyay.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The Reserve Bank of India (RBI) has barred Paytm Payments Bank from most operations, including taking deposits and fund transfers with effect from March 1, 2024. The curbs on the bank come amid several alleged failures such as violations of know-your-customer (KYC) norms. Under such a scenario, here's what works for customers using Paytm Payments Bank, according to the company.
'We plan to launch new initiatives, including cash flow-based lending, to ensure borrowers are not burdened and can access funds more quickly.'
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.
The Madras high court has refused bail to two persons, said to be the members of the banned organisation LTTE, who attempted to loot Rs 40 crore lying idle in the savings bank account of a dead man.
The bad assets or gross NPAs of commercial banks fell to a 12-year low of 2.8 per cent in March 2024 and may go down further to 2.5 per cent by the end of the current fiscal, said the RBI's Financial Stability Report (FSR) released on Thursday. Scheduled Commercial Banks' (SCBs) gross non-performing assets (GNPA) ratio fell to 2.8 per cent, and the net non-performing assets (NNPA) ratio to 0.6 per cent at the end of March 2024. "The asset quality of SCBs recorded sustained improvement, and their GNPA ratio moderated to a 12-year low in March 2024. Their NNPA ratio too improved to a record low," said the June FSR.
At a time when rising prices are fast depleting the value of money, there may be some good news for millions of savers.
From April 1, 2010, interest on all savings bank account deposits is being calculated on a daily basis, thereby earning account holdres higher interest income.
Ask your bank to save for you. Plan your taxes. Reward yourself for your addictions... Chartered accountant Shreya Jaiswal's 10 ways to make more money this year.
The April-June quarter (Q1) of the current financial year (FY25) may be soft for banks with loan growth moderation, net interest margin (NIM) pressures, and higher staff and credit costs inching up, according to analysts. Credit growth could ease due to the lagged impact of the Reserve Bank of India (RBI) tightening and deposit growth has weakened, and the current account and savings account (CASA) ratio has declined 10-370 basis points (bps) quarter-on-quarter (Q-o-Q) for many banks.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) will answer your personal finance-related questions.
We did an analysis comparing investments made from a savings bank account with that made from a debt fund. The results are there for all to see.
As the fight for deposits intensifies, the cost of money will rise and the margin will be under further pressure, points out Tamal Bandyopadhyay.
Dismissing the petitions of former Price Waterhouse auditors -- S Gopalkrishnan and Talluri Srinivas who sought defreezing of their bank accounts, special judge BVLN Chakravarti considered CBI's contention that further investigations is pending in the case at this stage.
With a balance sheet size of Rs 22,000 crore (Rs 220 billion), we are a meaningful player in our home country, says Rana Kapoor.
India's flexible (flex) office segment, having breached pre-pandemic levels, is thriving as corporates, startups, multinational corporations, and global capability centres (GCCs) expand in India, seeking low-capital yet Grade A plug-and-play facilities. In the first quarter (Q1) of 2025, the flex office segment continued to grow, with flex space leasing rising by 22 per cent to 2.2 million square feet (msf), according to Colliers.
By staying informed and focusing on legitimate job openings, candidates can navigate the job market more effectively and safeguard their career aspirations.
'Life does not change in such a way that everything becomes easy. Struggle and hustle is there for everyone. 'The difference is that people have started knowing me.'
Even as concerns grow over the residential real estate market reaching its peak, the outlook for office real estate remains strong, with listed real estate investment trusts (Reits) standing to benefit from sustained demand in the segment.
rediffGURU Yogendra Arora answers readers' personal income tax queries.
We asked you, dear readers to share your best tips on saving money. Rajarshi Pathak, 34, from Bengaluru shared these tips.
The branch managers have come out of their glass cabins and the sellers' market has transformed into a buyers' market, but there is no end to the harassment of customers, asserts Tamal Bandyopadhyay.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
When investing in fixed-income products, balancing considerations like safety, liquidity, and income is essential.
A special court in Mumbai denied bail to businessman Sujit Patkar, an aide of Shiv Sena (UBT) MP Sanjay Raut, in the alleged COVID treatment centres scam. The court found that Patkar played with the "life of people" by under-deployment of doctors and staff to generate proceeds of crime. The Enforcement Directorate (ED) alleged that Patkar's firm, Lifeline Hospital Management, fraudulently obtained a contract for supplying medical staff at Dahisar and Worli Jumbo Covid facilities during the pandemic, resulting in the generation of proceeds of crime (PoC) amounting to Rs 32.44 crore. The court noted that there are ample statements of the witnesses to show that a list of more staff members was prepared than being deployed on the instructions of Patkar.
Kotak Mahindra Bank's loan and deposit growth are likely to be affected after the Reserve Bank of India (RBI) asked the private-sector lender not to take on board new customers through the bank's online and mobile banking channels and not to issue any new credit cards, according to analysts. The bank's share price fell 10.85 per cent on Thursday to close the day at Rs 1,643 on the BSE. The RBI's action came after market hours on Wednesday.
The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
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