Most public sector banks, flush with deposits now, offer 3-4% interest on savings deposits, while a few private sector banks go up to 6%.
Rediff readers tell us about their first salaries.
In a big win for the Narendra Modi government, the Supreme Court in a 4:1 majority verdict on Monday gave its stamp of approval to the Centre's 2016 decision to demonetise the Rs 1,000 and Rs 500 denomination currency notes, saying the decision-making process was neither flawed nor hasty.
Union Bank of India has tied up with HDFC Standard Life Insurance Company Ltd to provide bank depositors an insurance cover under group policy with a target to bring in 50,000 customers under risk cover by March.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
"The amount collected from the sale of electoral bonds under the first issue of the scheme is Rs 222 crore as on March 9, 2018," Minister of State for Finance P Radhakrishnan said in a written reply in Lok Sabha.
Prime Minister Narendra Modi on Friday urged bureaucrats to make national interest the sole basis of their every decision, saying the country has put its faith in them and they must uphold that trust.
The government has asked the Indian Banks' Association to make sure that IDBI Bank's wages are on a par with other banks.
The Missionaries of Charity is a Catholic religious congregation established in 1950 by Nobel laureate Mother Teresa to help the poor and destitute,
'After 2011-2012, both our investment rate and savings savings rate have declined. 'Correspondingly, the savings rate in the economy as percentage of GDP, also has come down.'
Following the October 24 Supreme Court order, the department of telecom estimated that the total liability of 15 telecom companies, including penalties and interest, would be Rs 1.47 lakh crore.
The Debt Recovery Tribunal (DRT) on Tuesday directed Diageo Plc not to disburse $40 million of the $75 million sweetheart deal to him.
Advocating the move, home ministry officials said most of the developed countries change the security features of their currency notes every 3-4 years and therefore, it is absolutely necessary for India to follow this policy.
There is not much bank employees can do, but some words of encouragement from the management would have helped. Stretched working hours and the tense atmosphere is taking a toll on their health.
SBI got Rs 1.93 lakh cr in cash deposits from November 10-25.
'Jaitley should get the GST and multi- brand retail bills passed to achieve 9%+ growth.'
Bankers expect a stable interest rate this year after Finance Minister P Chidambaram promised to keep government borrowings lower than the budgeted Rs 1,00,836 crore (Rs 1008.36 billion) during 2005-06.
The Cabinet approved giving Bharti Airtel, Vodafone Idea Ltd and Reliance Jio an option to avail of a two-year moratorium on payments they were supposed to make in yearly installments for the spectrum bought in auctions.
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Monday approved Piramal Group's resolution plan for the beleaguered Dewan Housing Finance Ltd (DHFL), which has been reeling from the insolvency process since 2019. The plan put forward by Piramal Group, which has offered to pay Rs 37,250 crore, has been approved by the committee of creditors (CoC), the Reserve Bank of India (RBI), and the Competition Commission of India (CCI).
Arun Jaitley addressed a post-Budget press conference.
Rs 50,000-cr loans for 15,000-Mw projects could be heading for restructuring.
Investors lost around Rs 1.57 lakh crore in market valuation on Friday.
Parliament has approved a gross borrowing for Rs 7.1 lakh crore for the entire 2019-20 fiscal.
During his first Union Budget in July 2014, former finance minister Arun Jaitley announced the setting up of an institution called 3P India, with an allocation of Rs 500 crore. The intention was to mainstream public-private partnerships (PPPs) in India. The plan was to bring together the capacities of the government and private sector to push PPP projects.
NTPC was the top gainer in the Sensex pack, jumping over 7 per cent, followed by Bharti Airtel, Titan, HCL Tech, SBI, PowerGrid, TCS and IndusInd Bank. NSE Nifty climbed 139.45 points to its new closing high of 17,519.45.
BoB now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers.
In Delhi, Union Home Minister Amit Shah assessed the situation in Joshimath and steps taken to ameliorate people's hardship at a meeting attended by Union ministers Nitin Gadkari, R K Singh, Bhupendra Yadav and Gajendra Singh Shekhawat and top officials.
Former Union law minister Ram Jethmalani on Thursday demanded setting up of a special investigation team to probe unaccounted money of Indians, estimated to the tune of $1500 billion, lying in Swiss and other foreign banks.
'I believe the modified scheme is much more beneficial and simpler.'
This is following revival of demand from the corporate sector and small and medium enterprises (SMEs), even as a nascent economic recovery is taking shape. Credit growth of scheduled commercial banks had accelerated to 9.2 per cent year-on-year (YoY) by the end of December 2021 after breaching the 7 per cent-mark in November, for the first time since April 2020.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
As per the existing process of law under the PMLA, the ED could confiscate the assets only after the trial in a case finishes which usually takes many years.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Though COVID-19 will wreak more damage to the finances of the Indian population, the insurance sector is unlikely to get hurt.
Land attachment and auction is being undertaken by banks that are controlled by the RBI, Gehlot said, urging the Centre to waive farmers' loans.
Vijay Mallya, who faces prosecution in India, is reportedly in London.
The government has been taking steps to promote cashless or digital transactions to take India towards a less-cash economy
Pawan Ruia has finally done it, a beaming Buddhadeb Bhattacharjee, then West Bengal chief minister, had said at the reopening of the 70-year-old Sahagunj factory owned by Dunlop in 2005. But with the Calcutta high court passing a winding-up order in 2013 and the Trinamool Congress-led state government passing a Bill to take over the company in 2016, the once-upon-a-time undisputed leader in the Indian tyre industry looks vastly undone. But that can hardly be a deterrent for Ruia, who has a penchant for making headlines one way or the other.
International oil prices retreated from an over seven-year high but was still above $100 a barrel and continue to pose threat to India's inflation rate and current account deficit. While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing on the increase in international rates through a revision in petrol and diesel prices, which have been on a pause for over three-and-a-half-months in view of elections in Uttar Pradesh and four other states. The government is "closely monitoring the situation" and will "take appropriate steps as and when required", a top official said. Brent crude oil surged past $105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine.
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