US bank Citigroup on Wednesday announced the sale of its Indian consumer banking businesses, including credit cards, retail banking, wealth management and consumer loans, to private lender Axis Bank for Rs 12,325 crore, as part of its plans to exit retail operations in 13 markets.
The preference for digital banking now cuts across all customer segments.
Recently, the government announced yet another ambitious scheme aimed at providing health insurance to 50 crore individuals.
Investments and expenses under section 80 C allows various tax benefits, says Harjot Singh Narula
Here's how the move will affect the banks' customers.
Whether salaried or running your own business, it's about time to get your investment proofs in tax-saving instruments ready for filing your income tax returns later this year.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
If the earnings in the first quarter of the current financial year are an indication, most banks, particularly those majority-owned by the government, have fared well, reveals Tamal Bandyopadhyay.
In the new year be careful online as there are many scamsters lurking in the cloud, warns A Ganesh Nadar after twice escaping being scammed.
India does not have a unified regulatory regime to counter Ponzi, or pyramid, schemes whose operators typically grab new deposits to meet their promise of guaranteed returns to existing savers, point out Manoj Kumar and Mayank Bhardwaj.
'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'
Economist Dr Subramanian Swamy, whose Janata Party merged with the Bharatiya Janata Party in August, has issued the following press statement on the Indian economy and demanded the implementation of a four-point agenda to save it.
The federal agency said it conducted raids against a director of Zanmai Lab Pvt Ltd, which owns WazirX, on August 3 in Hyderabad and alleged he was "non-cooperative". The agency's probe against the crypto exchange is linked to its ongoing investigation against a number of Chinese loan apps (mobile applications) working in India.
The rates of interest on various small savings schemes for the third quarter of financial year 2018-19, starting October 1 and ending on December 31, 2018, has been revised, the finance ministry said while notifying the rates.
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
.jpg)
Banking as we know it will stand on its head in the next 10 years.
Be aware of the new charges being introduced and transact online to save on costs
Evading the eagle eyes of the Election Commission, political parties in Tamil Nadu have come up with innovative ways to attract voters, the latest being the 'mobile contact' system, in which they contact the electorate over cell phones.
Justice Yashwant Varma issued notice to the investigating agency on Ayyub's petition against the provisional attachment and sought a response from it within six weeks.
The idea of the payment banks is to provide access to banking for people, especially in rural areas.
Priya Nair finds out how investors of mutual funds, shares, unclaimed bank deposits, insurance policies can redeem long-forgotten investments.
'Investors with higher risk appetite and longer horizon (more than one year) can invest in longer-duration funds like corporate bond funds, long-duration funds and gilt funds for maximum gain.'
In this interview with Rediff.com's Shobha Warrier, Ashok Kumar E R, the CEO and co-founder of Scripbox shares some more interesting observations about the way Indian women make financial decisions and offers advice on how, with the apt guidance and information, they could do a lot better.
Returns in Systematic Transfer Plan are consistent as money invested in debt mutual fund schemes earns interest till the time the whole amount is fully transferred to equity fund, says Vishwajeet Parashar, Sr VP and Group Head -- Marketing, Bajaj Capital
Reserve Bank of India (RBI) Governor Shaktikanta Das had stumped the market in the previous two policies - in August and in October - first with action and then with words. In August, it was the introduction of an incremental cash reserve ratio (I-CRR) to take out excess liquidity, which took the markets by surprise. In October, there was no action. Rather, what is known as "open mouth operation", Das' comment that the central bank might conduct open market operations (OMOs) by selling bonds tempered the euphoria in the bond markets after JP Morgan's inclusion of India in its Emerging Market Bond Index.
In the excitement over the allocation of bank licences for the private sector, a new category of licence offered by the Reserve Bank of India (RBI) last year went almost unnoticed. That was when the RBI consolidated the rules for prepaid payment instruments (PPI), popularly understood as e-wallets or gift cards. In the process, the regulator has fast-forwarded a bottom-up card usage industry in India that is completely different from the world of bank-linked credit and debit cards.
We asked you, dear readers to share your best tips on saving money.
A mortgage is a great responsibility that you must bear on able shoulders for a long period of time. If you already have a mortgage or are planning to avail of one soon, you are obviously confident of your finances, but a few tips to save money on your home loan couldn't hurt, right? Read on to find out more!
Since April 2016, interest rates of all small saving schemes have been recalibrated on a quarterly basis.
From opening an account in a local bank to looking for festive and student discounts, here are some surefire ways you can save money on your education trip abroad.
Payments banks are niche banks set up by the Reserve Bank of India to further the agenda of financial inclusion.
The draft amalgamation scheme of Punjab and Maharashtra Co-operative (PMC) Bank with Unity Small Finance Bank (SFB) allowed quick relief to depositors with savings of up to Rs 5 lakh, but a long wait for those who had their nest egg with the scam-tainted bank. If the scheme gets approved, 96 per cent (or 880,000 of 924,000) depositors will get their full money straightaway after PMC is merged with Unity SFB. According to the draft scheme, retail investors may get up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC) instantly, and then some more in phases till they can recall their full deposits after 10 years.
Discussions are on in government about how to make the process simpler for the poor and more cost-effective for telecom operators, says Subhomoy Bhattacharjee.
The decline is attributed to lower salary growth and a rise in households' financial liabilities.
The government on Tuesday placed Lakshmi Vilas Bank under one-month moratorium, superseded its board and capped withdrawals at Rs 25,000 per depositor. The step was taken by the government, on the advice of the Reserve Bank, in view of the declining financial health of the private sector lender. In a statement, the RBI said in the absence of a credible revival plan, with a view to protect depositors' interest and in the interest of financial and banking stability, there was no alternative but to apply to the central government for imposing a moratorium under Section 45 of the Banking Regulation Act, 1949.
Wedding.con is a watchable show, if only to caution people about the latest scams, notes Deepa Gahlot.
Other than Kapoor, the complaint, running into more than 10,000 pages, named his wife, Bindu; three daughters Rakhee, Roshini, and Radha; and three firms, Morgan Credits, RAB Enterprises, and Doit Urban Ventures, allegedly controlled by them.
'Those who feared that I would have run one hell of a campaign targeting the most powerful people in India snatched away my democratic right from me.' 'I will expose these democracy-killers.'
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances