The Reserve Bank of India (RBI) has extended the trading hours for the interbank call money market from July 1, and that of repo and tri-party repo markets from August 1. Market participants said the decision is intended to help reduce the large Standing Deposit Facility (SDF) balances held by banks with the RBI, thereby addressing liquidity mismatches.
The return filed could be treated as defective, invalid, or even be considered as not filed at all.
Feature for feature, bank FDs are indeed better than debt funds today, mainly thanks to Ms Sitharaman, notes Debashis Basu.
'It is observed that some of our branches are already losing good balances in their savings deposits as well as fixed deposits, which are maturing, to the other banks.'
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.
The Karur tragedy has exposed the huge gaps in Vijay's understanding of realpolitik, elections and political administration, asserts N Sathiya Moorthy.
Interest rates on offer are linked to the bank's base interest rate.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
'The problem is that the bubble may not only be in valuations, but also in investors' minds.'
The Commissioner of Railway Safety has determined that the Mysuru-Darbhanga Bagmati Express accident was caused by sabotage, prompting increased security measures and investigations.
The Supreme Court of India harshly criticized a man for abandoning his wife and minor daughters, calling his actions "cruel" and questioning his humanity. The court demanded the man provide financial support to his family, including his daughters, before it would consider any favorable orders in his case. The man had previously been convicted of domestic abuse and fraudulently removing his wife's uterus. The court's strong stance highlights the ongoing issue of domestic violence and the need for legal protection for women and children in India.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
ICICI Bank on Friday said it has revised interest rates on foreign currency NRE fixed and FCNR deposits from July 1.
State Bank of India, Adani Ports, Tata Consultancy Services, ICICI Bank, Reliance Industries and PowerGrid were also among the laggards.
State Bank of India chairman Dinesh Kumar Khara has pitched for tax relief on interest income, saying it would help banks to garner savings that could be used for funding long-term infra projects. Currently, banks are required to deduct tax when interest income from deposits held in all the bank branches put together is more than Rs 40,000 in a year. With regard to savings accounts, interest earned up to Rs 10,000 is exempt from tax.
In a rising interest rate regime, fixed maturity plans can offer good returns. But exit in the interim is difficult because of listing.
ICICI Bank on Thursday hiked interest rates on deposits of Non-Resident Indians.
Sadly, so will lending rates. Do not hurry to put all your money in existing offers.
ELSS investments require a long-term commitment of at least seven years.
Don't solely focus on tax-saving alone.
As banks' chase for customers to collect cheap deposits is not fructifying, they are forced to offer inflation-beating real interest rates on fixed deposits now, and state-run banks led by Punjab & Sind Bank tops the chart offering 8-8.50 per cent per annum deposit rate. Banks are forced to offer inflation-beating deposit rates for a tenor ranging from 200 to 800 days as credit growth has been far outpacing deposit mobilization throughout this fiscal, leading to a funding crunch.
ICICI Bank has revised interest rates on non-resident external savings account and NRE fixed deposit by 0.61 per cent and 0.47 per cent respectively across various maturities.
'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 country's largest lender State Bank of India on Monday raised fixed deposit rate by 100 basis points to 10.50 per cent for 1,000 days maturity.
Heed your liquidity needs before investing in an FMP.
The move would also help banks garner more funds to meet their lending needs.
'The larger and more opaque this shadow economy becomes, especially online, the greater the risk to India's national security.'
Sahara and Peerless are classified as residuary non-banking finance companies (RNBCs), which are now required to invest 100 per cent of their deposits in approved securities, including government bonds, fixed deposits with banks and mutual funds.The RBI has also asked the two RNBCs to submit alternative business plans.
Tax experts answer your budget-related queries
Your opportunity to earn higher interest by keeping more than Rs 1,00,000 in your savings bank account might soon be limited.
In his complaint, the victim alleged that on September 12, he received a video call from a person claiming to be from the Telecom Regulatory Authority of India, who told him that his mobile number will be blocked.
The new rates will become effective from Tuesday.
With a surge of nearly three-fold in its cash position since the beginning of this fiscal, Reliance Industries on Thursday disclosed that over 95 per cent of these are parked in banks.
FDs are not advisable for long-term wealth creation as their post-inflation, post-tax returns are not very attractive.
Analysts are of the view that long-term investors could continue to hold the stock, irrespective of the MSCI development.
P V Subramanyam clears some misconceptions about debt funds.
Stung by rising costs, State Bank of India wants to further reduce dependence on expensive large corporate deposits.
