'In the last one year, we have added more than Rs 1.7 trillion, and we are on track.'
A 64-year-old man from Thane was allegedly defrauded of 1.56 crore by cybercriminals using a 'digital arrest' scam, involving forged documents and constant surveillance.
The finance ministry's ambitious plan to implement portability in savings accounts has not found favour with the Reserve Bank of India (RBI).
Compared with a year ago, the effective cost of studying abroad for Indian students has increased by roughly 10%-12% due to currency depreciation and rising living costs.
A Kerala MLA, K Shantakumari, was targeted by a cyber fraud gang impersonating Anti-Terrorism Squad officers, who claimed she was linked to a bomb blast case. She reported the incident to the cyber cell after uncovering their deception.
'It is a tradeoff between convenience and fraud prevention.'
From the financial year 2025-2026, the government has introduced a new column in the tax return form for presumptive taxpayers, requiring them to disclose their year-end investments. This requirement was not present last year.
Jammu and Kashmir Lieutenant Governor Manoj Sinha has accused Pakistan of targeting the region's youth by flooding the streets with drugs, vowing to combat the menace and protect the younger generation.
Moreover, about 21 million people in the US rely on alternative financial services, despite having bank accounts.
The Centre has announced that the Viksit Bharat -- Guarantee for Rozgar and Ajeevika Mission (Gramin) Act will come into force across the country from July 1, replacing the Mahatma Gandhi National Rural Employment Guarantee Act.
A prolonged supply shock can transmit to lower incomes, and dampen confidence and sentiment, warns Aditi Nayar, chief economist, head-research and outreach, ICRA.
Indian stock markets experienced a significant sell-off, with the Sensex tumbling over 1,300 points, driven by escalating crude oil prices due to US-Iran tensions and Prime Minister Narendra Modi's call for austerity measures, which amplified investor concerns about India's economic outlook.
Union Minister Giriraj Singh has accused West Bengal Chief Minister Mamata Banerjee of appeasing Muslims and protecting infiltrators, while the BJP promises to bring 'Ram Rajya' to the state if elected.
For every 100 rupees, households invested Rs 45.2 in mutual funds and equities in 2024-2025.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Best in class asset quality, strong retail granularity, and a sustainable return ratio -- these are the things we will look at, says Yes Bank's new MD and CEO Vinay Tonse.
The government plans to expand its central bank digital currency (CBDC)-based food subsidy programme to Chandigarh, Dadra and Nagar Haveli, and Daman and Diu by June, following its implementation on a pilot basis in Gujarat and Puducherry, official sources said.
'Credit growth in India remains in double digits, even though corporate borrowing is subdued.' 'Corporate credit is weak because companies are cash-rich and cautious amid global uncertainty.'
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.
On higher amounts, banks are allowed to offer differential rates to depositors.
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.
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.
'It has always been viewed as a hedge against inflation.'
A Kerala MLA, K Shantakumari, was targeted by cyber fraudsters claiming a connection to a bomb blast case and using her identity. The MLA reported the incident to the cyber cell after her son identified inconsistencies in the video call.
'At the first sign of real trouble, that money will move. There will be a run.'
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.
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.
Deferred payment plans may come with a cost, which may not be immediately visible.
With duties at 15%, GST at 3%, and making charges running as high as 20% -- the gap between a smart purchase and a careless one can easily be Rs 30,000 to Rs 50,000 on every Rs 1 lakh invested. And most of that gap is entirely avoidable. Ramalingam Kalirajan explains the math.
'Once the currency goes out of the hand, then possibly your major challenge is that it will not come back.'
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Self-styled godman Ashok Kharat, already facing rape charges, is now under investigation for suspicious financial activities involving numerous accounts and large transactions.
Self-styled godman Ashok Kharat, already facing rape charges, is now under investigation for opening over 130 accounts with cooperative credit societies and conducting transactions worth approximately Rs 63 crore.
The banking sector could see better loan growth in the third quarter of financial year 2026 (Q3FY26) with improved net interest margins (NIMs), though the full impact of latest rate cuts will be largely felt in the fourth quarter. There may be lower slippage in unsecured loans and microfinance institutions (MFIs) along with steady recovery trends, which should lower credit cost.
What is phishing and how does it threaten your online identity? Find out!
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.
Don't keep your money in savings account. Here's how you end up losing money rather than earning interest on it.
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.
Beginning November 1, 2025, bank customers can name up to four nominees for their accounts and lockers.
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.
