One should avoid keeping excessive funds in one's savings account.
Banking sector has witnessed healthy growth in advances in the third quarter of financial year 2026 (Q3FY26) against the same period last year, as the full impact of goods and service tax (GST) rate cuts drove growth. Most of the lenders saw their credit growth outpace the deposit growth in the quarter.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
With domestic markets turning choppy, investors are increasingly scouting for opportunities overseas to diversify portfolios and hedge against a weakening rupee.
Rediff explains why the system, not the Budget, is the problem.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
The pause gives the US time to breathe, to regroup, to move its expeditionary force into position without risk of interception along the way. It gives Iran nothing -- on the ground, attacks against its infrastructure continue apace. Prem Panicker in his must read daily blog on the Gulf War.
While freeing interest rates on savings bank accounts, the RBI has said that banks will have to offer a uniform interest rate on deposits of up to Rs 100,000.
Beginning November 1, 2025, bank customers can name up to four nominees for their accounts and lockers.
Given that a sizeable part of this money is part of the coveted current accounts and savings accounts, it is surprising that banks are not in a hurry to revive these accounts, notes Tamal Bandyopdhyay.
The chairman of maritime company Safesea Group has described the attack on the US-owned crude oil tanker Safesea Vishnu, which resulted in the death of an Indian crew member, as "deliberate and calculated". He emphasised the need for governments to ensure the safety of commercial shipping lanes and seafarers.
The Reserve Bank on Tuesday asked banks not to levy penalties on customers who don't maintain a minimum balance in any inoperative account as part of a consumer protection initiative.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
'Among corporates, about 60% of income is now reported under the new tax regime.'
India's household debt climbed to 41.3 per cent of gross domestic product (GDP) at the end of March 2025, marking a sustained rise from its five-year average of 38.3 per cent, with consumption-related loans accounting for bulk of the borrowings, the Reserve Bank of India (RBI) said in its Financial Stability Report.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
'Reinvention is not a hugely difficult task. With technology as available today, you can reinvent yourself pretty quickly.'
'Corporates now have multiple funding sources beyond banks, and many are sitting on large cash reserves.'
ICICI Bank has reversed its decision to raise the minimum monthly average balance (MAB) for new savings accounts in metro and urban locations to Rs 50,000, revising it instead to Rs 15,000, effective August 1. The MAB for new savings accounts in semi-urban locations has been revised from Rs 25,000 to Rs 7,500, and for rural locations from Rs 10,000 to Rs 2,500.
India's high cost of capital due to relatively shallow corporate bond markets, limited institutional investor depth, sovereign risk premia, and regulatory restrictions on capital flows, is a constraint on private investment and long-run growth, the Economic Survey, authored by Chief Economic Advisor (CEA) V Anantha Nageswaran, said.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Paytm (One 97 Communications Ltd), India's full-stack merchant payments leader serving MSMEs and enterprises, has launched a fully redesigned version of its flagship app, integrating artificial intelligence-driven features to streamline and personalise everyday transactions for its users.
The new UPI IDs will follow formats such as abc.bkr@validhdfc or xyz.mf@validhdfc. For easier recognition, they will also carry a white 'thumbs up' icon inside a green triangle.
The Reserve Bank of India has told banks not to levy penal charges for non-maintenance of minimum balances in any inoperative account.
'Given that India underperformed emerging markets by 28 per cent in 2025, the worst performance in over 30 years, the timing of the sharp STT hike could have been better.'
'As the team builds, each of them will bring in a different perspective, new thinking.'
Cyber fraudsters posing as ED and CBI officials duped a retired banker in Delhi of Rs 23 crore by allegedly putting him under 'digital arrest' for nearly a month.
Even the conventional banking industry is no exception to this new trend.
Senior citizens are particularly vulnerable due to their high savings, trust in authorities, and limited familiarity with online frauds.
People can send their Rs 2,000 banknotes to specified regional offices of the Reserve Bank through the insured post for credit in their bank accounts. This is a hassle-free option for the people who are away from the regional offices of the Reserve Bank. Besides, the RBI is offering TLR (Triple Lock Receptacle) form to people for a deposit of Rs 2,000 banknotes in their bank account.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Banks and NBFCs are launching festival offers, including lower loan rates, cashback, EMI schemes and GST-linked benefits to tap rising demand ahead of Diwali
The key question is how much of the latest growth record represents recovery from the 2020-2021 downturn, and what is the sustainable growth rate now, asks T N Ninan.
The amounts were transferred from HDFC Bank to BoB.
ICICI Bank delivered satisfactory results in the second quarter of 2025-26 (Q2FY26), sustaining return on assets (RoA) of around 2.3-2.4 per cent and improving asset quality. Provisions declined 26 per cent year-on-year (Y-o-Y) and 50 per cent quarter-on-quarter (Q-o-Q).
A retired banker in Delhi lost his entire life savings, amounting to Rs 23 crore, to cyber fraudsters who posed as ED and CBI officers. The victim was kept under 'digital arrest' for over a month and forced to transfer funds under duress.
Yes, the entry of private bankers, particularly with global experience will add value to PSBs, points out Tamal Bandyopadhyay.
Prime Minister Narendra Modi attacked the ruling Left and Congress in Kerala, raising the Sabarimala gold loss issue and accusing the Congress of aligning with hardline elements. He urged voters to choose the BJP for development and good governance.
The ratio of MF assets under management to total bank deposits has more than doubled in 10 years.
A Hindu businessman in Bangladesh was brutally attacked, hacked, and set on fire by unidentified assailants. The victim, Khokon Chandra Das, was attacked while returning home from his shop. He sustained severe injuries and is receiving treatment in Dhaka. Police are investigating the incident.
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