'I will not be surprised if there is a 7 per cent handle in front of the decimal place for the full financial year.'
Errors in filing income-tax returns frequently lead to scrutiny notices, additional liabilities, or delayed refunds.
In Q1FY26, the bank reported fresh slippages of 8,200 crore, up 71 per cent Y-o-Y and sequentially. Of this, 7,500 crore is from the retail segment.
Moreover, about 21 million people in the US rely on alternative financial services, despite having bank accounts.
'An asset must generate income. Equities yield dividends, bonds pay coupons, deposits give interest, and real estate earns rent.' 'Gold, silver, and even Bitcoin produce no income, they merely store value. So, they should not be compared to productive assets.'
Payment apps PhonePe and Paytm have helped citizens avert potential financial frauds worth Rs 200 crore by using the fraud risk indicator platform developed by the Department of Telecom, a senior Walmart group official said on Wednesday.
The RBI advisory follows a labour ministry request earlier this year seeking the central bank's expertise to identify gaps in EPFO's investment strategy and fund management practices, including accounting, risk management, and internal governance.
Mumbai police have arrested six individuals from Gujarat, dismantling an interstate cyber fraud gang involved in digital arrest scams, including one where a businessman was defrauded of Rs 58 crore.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The Reserve Bank on Monday permitted banks to allow minors above the age of 10 years to open and operate savings/ term deposit accounts independently. The Reserve Bank of India has issued revised instructions on opening and operation in the deposit accounts of minors.
The revised ceiling will be within the Rs 10 lakh mark.
'The government is putting insurance in the same category as food, which is essential for life.' 'Now this is an opportunity for the sector to focus on the consumer.'
On higher amounts, banks are allowed to offer differential rates to depositors.
'Now we have one of the best asset qualities in the industry.'
At present, the interest is calculated on the minimum balance held in the account from the 10th of each month to the last day of that month. So, if a bank customer has Rs 1 lakh in his savings account one day and then Rs 100 another day, the minimum balance taken for calculation of interest in the period would be Rs 100. But, from April 1, 2010, the interest will be paid on the daily minimum balance. This means even the Rs 1 lakh balance will earn the customer interest.
SBI introduced this products three months after the Reserve Bank issued guidelines allowing minors over 10 years to operate bank savings accounts independently and use facilities such as automated teller machines and cheque books.
A summary of Wednesday's action in the UEFA Champions League.
Banking laws for NRIs allow for the following deposit schemes, or simply put, accounts with authorized dealers -- banks and financial institutions authorized by Reserve Bank of India to deal in foreign exchange -- to be maintained in Indian rupees and in foreign currency.
Master the online ITR filing process and then learn the differences between the old and new tax regimes to pick your best option.
Going to the bank and using your passbook to find out your bank balance while still available and widely used, technological innovations have brought your bank at your fingertips.
What is phishing and how does it threaten your online identity? Find out!
Don't keep your money in savings account. Here's how you end up losing money rather than earning interest on it.
The Employees' Provident Fund Organisation (EPFO) board has approved liberalised part withdrawals for subscribers, allowing up to 100 per cent EPF withdrawal, and rolled out the 'Vishwas Scheme' to reduce litigation through rationalised penal damages.
Learn to track your ITR's progress and correct any errors.
rediffGURU T S Khurana answers readers' personal income tax queries.
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
After a subdued first quarter of 2025-26 (Q1FY26), banks are now betting big on the festive season, rolling out attractive loan offers to boost credit growth in the second half of the current financial year (H2FY26) - a trend likely to be further accentuated by the second-order effects of the good services tax (GST) cuts.
So, the next time someone tempts you with a slightly higher FD rate from a lesser-known bank, point them to hybrid funds that can deliver extra returns without the administrative and emotional rollercoaster.
UPI has catapulted India into the forefront on the global digital payments landscape. Working hand in hand, the AePS payments system is making life easy for rural folks, notes Tamal Bandyopadhyay.
Prime Minister Narendra Modi on Thursday launched his government's mega scheme ' Pradhan Mantri Jan Dhan Yojana', declaring that it was aimed at eradicating financial untouchability by providing bank accounts to the poor.
As the name suggests these bank accounts are flexible in the sense they give you the higher interest of a fixed deposit and the liquidity of a savings account.
'The outlook for the next Samvat is more constructive, as many of the earlier drags are gradually becoming supports.'
Effective April 1, 2010 your savings bank account deposits is going to earn more interest for you. Here's how.
'We extend our heartfelt appreciation for your generous gesture of personally paying the first semester admission fee.' 'We sincerely hope your support to underprivileged students continue.'
The interest rate on these schemes have remained unchanged for over a year now.
Here's what Indian investors diversifying into equities, ETFs, and real estate abroad to manage risk, returns, and currency exposure must watch out for.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
The government has proposed to dilute the controversial Fringe Benefit Tax, exempt savings account from the 0.1 per cent banking cash transaction tax and raise income tax exemption limit for women and senior citizens.
Have you ever thought of options that are safer like the savings bank account, and additionally provide higher returns?
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