Retail investors could be hesitant to invest in floating rate savings bonds, as these specific bonds tend to be profitable only in a rising rate environment, according to market participants. The Reserve Bank of India has allowed subscriptions for floating-rate savings bonds, 2020, via retail direct - an online portal that enables individual investors to purchase government securities.
The ministry of finance on Tuesday clarified that public sector banks (PSBs) have intimated they are not going to raise bank charges in the near future in view of the COVID-19 pandemic. The ministry's statement comes after several media reports citing steep increase in service charges by certain PSBs surfaced. No service charge is applicable on the 60.04 crore Basic Savings Bank Deposit (BSBD) accounts, including 41.13 crore Jan Dhan accounts opened by the poor segments of the society, as per the statement.
Ask the question "How much cash do you need?" and the most likely answer you'll get is "As much as I can lay my hands on." What we are looking at is the liquid funds deposited in savings bank accounts and stored in cupboards and bank lockers.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
In an attempt to acquire consumers, banks have been providing a lot of technology-enabled services, which used to be offered free.
Transiting from "survival mode", which took most of the management time in FY21, the bank has been able to take a long-term view in terms of growth and preparing technology in the past 12 months.
They had also sought to be allowed to charge consumers for use of own-bank ATMs.
'They have since only tried to improve systems. Also, with regulatory guidance from time to time, we are in a position to assess a situation and react in time.'
Feature for feature, bank FDs are indeed better than debt funds today, mainly thanks to Ms Sitharaman, notes Debashis Basu.
IndusInd Bank on Monday announced the launch of Indus Easy Savings Account, a no-frills account with an allowed balance of Re 1.
When investing in fixed-income products, balancing considerations like safety, liquidity, and income is essential.
The idea is to save customers the inconvenience of opening and closing bank accounts or keeping multiple accounts if they have to shift to a new location or find their bank's services unsatisfactory.
The Indian Post Payments Bank will be a boon to Indians who live in rural areas. India has 154,000 post offices, of which 139,000 are rural.
By staying informed and focusing on legitimate job openings, candidates can navigate the job market more effectively and safeguard their career aspirations.
According to experts, 'Lakshmi' and the logo 'Godesses Lakshmi' have a lot of value in India and are the biggest driver for the Bank. Retaining the Lakshmi name and logo will help DBS.
Axis Bank has strengthened its positioning -- on both the assets and liability side -- and it may be set to deliver sustained improvement in performance. The valuation gap between Axis Bank (which trades at 1.4x core book value (or BV) and peers like ICICI Bank (valued at 2x BV) is expected to narrow.
'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.'
ICICI Bank has 317 branches in hitherto unbanked villages.
ICICI Bank, the country's largest private sector lender, has introduced an equated monthly instalment (EMI) option for its customers on debit card purchases.
'I wonder if they will keep it up after the elections.' 'I fear they'll start questioning eligibility -- income, age, bank accounts -- and eventually stop the scheme altogether.'
Finance Minister Nirmala Sitharaman on Wednesday said the National Rural Livelihood Mission has achieved remarkable success by mobilising rural women into 1 lakh SHGs (self help groups).
rediffGURU Yogendra Arora answers readers' personal income tax queries.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
Systematic Withdrawal Plan, or SWP, can help you achieve your financial goals. Ramalingam Kalirajan's step-by-step guide on how to effectively use an SWP.
'People can start making a safety net, and that safety net should be at least three months of your monthly salary.' 'If somebody is earning Rs 25,000 then s/he should have at least Rs 75,000 in her/his bank account, so that if anything like this (lockdowns) happens in the future, they are not struggling.'
At a time when banks are finding it challenging to mobilise resources, State Bank of India (SBI)-the country's largest lender-has devised a three-pronged strategy to boost deposit accretion. First is an aspirational product that promises to make depositors lakhpatis by helping them grow their deposits to Rs 1 lakh through recurring deposit (RD) schemes.
Saving is not the same as investing as many people wrongly assume. But what's the difference between the two? How does each benefit you. Larissa Fernand has the answers
We asked you, dear readers to share yours smart tips to save money. This is what Mahesh Kaushik, 45, from Ghaziabad had to share.
The ED also alleged that Karti had 'disposed' off a property in Gurugram and had 'closed certain bank accounts.
Make financial planning a part of your education and definitely a part of your marriage, says financial planner Sheetal Jhaveri.
Union Finance Minister Nirmala Sitharaman's call for making lending rates affordable may not resonate anytime soon as banks still struggle with margin compression, and await clues from the Reserve Bank of India (RBI) on liquidity and rate action. Hinting that any lending rate cut was some time away, State Bank of India (SBI) managing director Vinay M Tonse said there was still some aggression in the market regarding deposit pricing.
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.
The share of equity and investment funds in the total financial wealth of households increased by more than 50% between 2011-2012 and 2022-2023.
Tax advantage, absence of huge interest rate risks and better returns makes investing in liquid mutual funds a viable option to park your spare cash.
Tax advantage, absence of huge interest rate risks and better returns makes investing in liquid mutual funds a viable option to park your spare cash.
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.
We'll need to wait a couple of years to see how many restructured loans turn bad and whether some banks fall victim to their obsession for growth, explains Tamal Bandyopadhyay.
What is digital house arrest? It is a tactic cybercriminals use to confine victims to their homes and scam them, explains Tamal Bandyopadhyay.
Nobody is held accountable for lapses, no matter how badly it affects the person or business whose accounts are frozen. Nor is there compensation for losses. Most people get to know their accounts are blocked only when a cheque bounces, points out Debashis Basu.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
