'The BJP has killed public anger. They have killed people's self-respect.'
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
The family of B Ramalinga Raju, the main accused in the multi-crore fraud at Satyam Computer, has approached a local court seeking a direction to de-freeze bank accounts and return seized electronic items.
Pranjal Kamra, CEO, Finology Ventures, lists seven efficient ways to cope with the rise in EMIs even as you balance your monthly budgets.
Shekhawat owns less than one hectare, that too ancestral, in a Sikar district village of Rajasthan.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
rediffGURU T S Khurana answers readers' personal income tax queries
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Do not go for riskier options like co-operative bank only for the higher return. Even if you go for them, park only a small portion of your capital there, say Tinesh Bhasin and Sanjay Kumar Singh.
'The new ceiling will cover around 93 per cent of all deposit accounts, up from 90 per cent earlier,' notes Tamal Bandyopadhyay.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
'With tuition fees for international students rising, education loans have become critical for bridging the gap between savings, scholarship, and full cost.'
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
If you are have an account with State Bank of India, HDFC Bank or Axis Bank you will have to pay higher charges for using ATM more than five times a month.
'There has been a change in the advances mix, with the share of corporate loans decreasing.'
The Kolkata-based firm already has a presence in 22 states with over 2,000 branches and 5.9 million borrowers.
While Paytm (One97 Communications) is not completely past regulatory hurdles, its share price has gained in the last month or two. The Paytm handle migration is complete along with FDI clearance necessary for the Payment Aggregator (PA) license. UPI consumer data indicates stable market share, and expansion in partner networks in financial distribution. All this implies Paytm could be set to meet guidance of turning Adjusted Ebitda breakeven by Q4FY25 (ex of UPI-incentives).
HDFC Bank Q1FY24 results analysis: Shares of HDFC Bank, the world's seventh largest financial entity, have advanced 2 per cent in two days, as against 1 per cent rise in the benchmark S&P BSE Sensex, after the lender reported its April-June quarter (Q1) results for financial year 2023-24 (FY24) on July 17. The S&P BSE Bankex index, meanwhile, has gained 1.3 per cent. While the near-term stock performance may remain sideways due to merger-related hiccups, analysts remain bullish on the stock's long-term prospects.
State Bank of India chairman Dinesh Kumar Khara has pitched for tax relief on interest income, saying it would help banks to garner savings that could be used for funding long-term infra projects. Currently, banks are required to deduct tax when interest income from deposits held in all the bank branches put together is more than Rs 40,000 in a year. With regard to savings accounts, interest earned up to Rs 10,000 is exempt from tax.
Wipro will be implementing the core banking solution for Paytm.
India's financial sector is dominated by large government-owned and private-sector banks.
Equity-linked savings scheme, PPF and Sukanya Samriddhi Yojana are recommended instruments.
During the trip, check your bank account and credit card statements regularly for unauthorised transactions.
Longer-tenure FDs generally give higher returns. Nonetheless, going for a tenure higher than two to three years is not advisable.
After providing for regular income, invest both in debt and equity options
The opposition's Indian National Developmental Inclusive Alliance (INDIA) will hold a 'maha rally' at Delhi's Ramlila Maidan on March 31 to safeguard the country's interests and democracy, Aam Aadmi Party leader Gopal Rai said on Sunday.
Most lenders that have reported their April-June business update posted slower growth in deposits sequentially as compared to the loan growth in the April-June quarter of 2024-25 (FY25). Current and savings account (CASA) deposits continue to face pressure. Private-sector lenders YES Bank, Bandhan Bank, and RBL Bank saw their deposit growth contract by 0.5 per cent, 1.5 per cent, and 2 per cent, respectively.
The government does not seem keen on issuing fresh gold bonds given the overall cost and rising gold prices.
Households are likely to remain the primary net lenders to the economy in the coming decades.
Branch networks will give preference to pensioners and labourers for withdrawing money.
Delhi Cabinet minister Atishi on Friday said the Aam Aadmi Party (AAP) is worried about the security of Chief Minister Arvind Kejriwal in Enforcement Directorate (ED) custody.
Any bank account suspected to have been "misused" for money laundering or shell company operations won't be exempted from probe under 'Operation Clean Money' despite having low deposits, the CBDT said on Tuesday.
The Budget should undertake further reductions in import tariffs and seriously consider an announcement of India's intention to join one or both of the two Asian mega-regional free trade agreements, suggests Shankar Acharya, former chief economic adviser to the Government of India.
For people at the bottom of the pyramid, which I would rather address as mass market or emerging class; the primary challenge in accessing banking services are not just affordability but applicability and accessibility of services.
'Consider 40% to 50% in equities, 10% in gold as a hedge, and the remaining 30% to 40% split between multi-asset funds and hybrid funds.'
Panel has recommended that banks give an option to open a plain savings account, without mandating a minimum balance.
Priyadarshini Maji evaluates the impact that payment banks are likely to have on your financial life.
Vijay Mallya, who faces prosecution in India, is reportedly in London.
As unified payments interface gets popular, cash transactions will come down as most small payments will be routed through this.
