Finance Minister Nirmala Sitharaman on Wednesday asked fintech startups to come out with solutions to deal with the rising incidence of digital arrests, cheating by fly-by-night operators, and other kinds of cyber frauds. Speaking at the Digital Payments Awards 2025 ceremony here, the minister credited fintechs with helping speed up financial inclusion and taking the payment system to even the far-flung areas of the country.
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.
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.
Borrowers should consider switching from an MCLR-linked to a repo rate-linked loan.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
But what do banks gain by opening their apps for all? The answer -- rival bank's customers under their fold.
A special court on Friday dismissed the petitions of Anil Verma and Purnima, son-in-law and daughter of Satyam scam accused B Suryanarayana Raju, seeking direction to the CBI to defreeze their savings bank accounts and fixed deposits.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
>It's not easy to predict the market. But there are at least two positive factors to back the PSU banks, explains Tamal Bandyopadhyay.
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.
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.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Earlier, Preity posted about the platform's growing cynicism, especially when people expressed appreciation for public figures.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) will answer your personal finance-related questions.
The current limit of Rs 24,000 per week has been raised to Rs 50,000 for savings accounts.
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.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Make deposits in your savings account before or on the 10th of every month.
In today's dynamic economic landscape, commerce and management education is crucial for a global career, says Nayagam PP.
Your opportunity to earn higher interest by keeping more than Rs 1,00,000 in your savings bank account might soon be limited.
'Choose an FD tenure that provides a balance between returns and the horizon for which you can invest.'
As the fight for deposits intensifies, the cost of money will rise and the margin will be under further pressure, points out Tamal Bandyopadhyay.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Breaking his silence after nine years, Vijay Mallya said he may return to India if assured a fair trial.
ICICI Bank, the largest private sector lender in the country, is offering an 'instant account number' if you apply for a savings deposit account through its website.
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.
Punjab National Bank, Bank of Baroda, Bank of India and Canara Bank already charge their customers a levy for failing to maintain a minimum balance for a quarter or a month.
Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints.
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.
'If I close my housing loan, are there any investment avenues (the investment should provide liquidity) to save tax?'
'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.'
The Reserve Bank has asked banks to start calculating interest rates on savings accounts on a daily basis from April 1.
Despite similar tax treatment, debt MFs enjoy certain advantages over FDs.
By June 2025, financial freedom will be just an ATM away. Pleasantly surprised? But there's more, says Ramalingam Kalirajan
The government plans to transfer all subsidies including food, fertiliser and kerosene, potentially taking direct payments to more than $60 billion.
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.
'BSE has facilitated nearly Rs 35 trillion in capital raising across multiple segments.'
'For 40 years, India valued only technical skills. IITs, coding -- that became everything.' 'Soft skills were sidelined. But those are the skills that will keep you employable now, not technical skills.'
The staff at post offices misappropriated Rs 95.62 crore of public money between November 2002 and September 2021, the Comptroller and Auditor General has said. The money may seem small but it is what common citizen invested in post office savings, the oldest and the largest banking system in the country. The system serves the investment needs of urban and rural clients through schemes such as savings bank, recurring deposits, time deposits, national savings certificates, kisan vikas patras, public provident fund, monthly income account scheme, sukanya samriddhi accounts and senior citizens savings scheme.
The net financial savings of the household sector has moderated to 5.1% of GDP in FY23 from 7.6 per cent in FY20, as households shifted their savings to physical assets amid low interest rates during the pandemic, according to State Bank of India's (SBI) Research report.
