Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
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.
Zheng Qinwen saw off a spirited challenge from Diana Shnaider to secure a hard-fought 7-6(5), 6-3 win in their Pan Pacific Open semi-final on Saturday and set up a title clash against American Sofia Kenin.
Long-term tax-saving FDs can also be considered after the PPF limit has been exhausted.
IMAGES from the Premier League matches played on Sunday
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.
Uruguay beat Canada on penalties in the Copa America third-place play-off match on Saturday after a 2-2 draw at the Bank of America Stadium in Charlotte, North Carolina.
Using credit or debit cards abroad can prove costly.
There is only so much that Vijay Deverakonda is allowed to work on from a clueless script that bounces from one wrong choice to another, observes Arjun Menon.
'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.'
That's the only way to convince those who have money to return to the bank fold, ditching other asset classes, says Tamal Bandyopadhyay.
Former Maharashtra minister Baba Siddique, who was shot dead in Mumbai, was a popular figure in Bollywood circles and had earned praise for supplying life-saving medicines to patients during the Covid pandemic.
Apart from the emotional value attached to buying gold, the yellow metal offers protection against inflation, interest rate spikes, currency and geopolitical risks, says Anamika Pareek.
The IPO-bound national insurer LIC is not only the largest holder of government debt -- owning 19 per cent of the G-secs -- but also the single largest owner of equities, the largest fund manger as well as holder of household savings, dwarfing even SBI deposits, as per a report. Holding 17 per cent of the over Rs 80.7 lakh crore dated government securities, maturing by 2061, the Reserve Bank is the second largest holder of government debt, while led by public sector banks, commercial banks collectively own around 40 percent. Other insurers cumulatively own only 5 per cent.
Banks are cheating customers with rates that are unfairly high, discriminatory, and opaque, denying legitimate savings to borrowers, while the RBI has been looking the other way, says Debashis Basu.
The Reserve Bank India's (RBI's) decision to ban the onboarding of new accounts on the "bob World" mobile digital platform led to a selloff in the Bank of Baroda (BoB) stock. The stock of the public sector bank dropped by around 3 per cent. The central bank cited "material supervisory concerns"; news reports claimed mobile numbers were randomly linked to accounts to purportedly inflate registrations on bob World.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
The RBI also allowed banks to levy ATM charges beyond 5 transactions for the same bank's account holders.
'The problem is that the bubble may not only be in valuations, but also in investors' minds.'
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.
While the RBI deregulated interest rates on fixed deposit schemes in 1997, it continues to fix the rate on savings deposits.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
'More investors now view the stock market as a valuable opportunity, though many still seek quick gains, leading to a rise in futures and options trading.'
The chief minister and his wife Kamlesh Thakur presented a cheque of Rs 51 lakh to chief secretary Prabodh Saxena at their official residence in Shimla.
Returns of liquid funds are meant only for the short term and don't help investors create wealth over the long term, as equity funds do.
'A mid-year review makes the end-of-year financial review manageable and less stressful.'
While festive offers can reduce costs, borrowers should also consider the lender's transparency and service quality. Customers need to be mindful of their repayment capacity.
From April 1, 2010, interest on all savings bank account deposits is being calculated on a daily basis, thereby earning account holdres higher interest income.
It will carry out most banking operations like accepting deposits but can't advance loans or issue credit cards.
The party was floated exactly two years after Kishor had embarked on a more than 3,000-km-long 'padayatra' of the state.
The Reserve Bank of India (RBI) has barred Paytm Payments Bank from most operations, including taking deposits and fund transfers with effect from March 1, 2024. The curbs on the bank come amid several alleged failures such as violations of know-your-customer (KYC) norms. Under such a scenario, here's what works for customers using Paytm Payments Bank, according to the company.
"I mentioned to sir (Ratan Tata) that the son of a fellow army officer was handicapped below the waist and needed a job," he told PTI from Pune where he now lives. "Vijay Bisht, son of my then colleague in M&G area HQ Lt Col B S Bisht, had sustained severe leg injuries after falling from a horse and I came to know he was looking for a job," he added. Tata said the needful would be done. And it was.
Fears of banks' earnings plummeting in a deregulated savings deposit rate regime appear to have gripped investors, with most analysts hinting that profitability may come under pressure due to higher cost of funds amid slowing growth in advances.
The central bank gave 11 entities licences to start payments banks.
After the Reserve Bank of India restricted the Sri Guru Raghavendra Co-operative Bank from doing business with immediate effect and capped the withdrawal limit at Rs 35,000, depositors on Tuesday queued up outside the bank's branches in Bengaluru. The regulatory body said the bank will continue to undertake banking business with restrictions until its financial position improves.
The merged entity's deposits grew by 16.2 per cent YoY at Rs 20.63 trillion at the end of the first quarter. Sequentially, the merged entity's advances rose by about 0.7 per cent to Rs 22.30 trillion as of March 31, 2023. However, the pace of deposit mobilisation was higher at 1.2 per cent over Rs 20.39 trillion as of March 31, 2023.
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.
The best thing parents can give to their child is their time, says Professor Suvasish Mukhopadhyay.
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