Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Payments banks are expecting to get the rights to offer small-ticket loans sometime soon, according to an industry source familiar with the matter. The industry has been in talks with the Reserve Bank of India (RBI) for some time in seeking lending rights.
Concerned over household savings moving towards alternative investment avenues, RBI Governor Shaktikanta Das on Thursday asked banks to mobilise deposits through innovative products and services by leveraging their vast branch network. "Banks are taking greater recourse to short-term non-retail deposits and other instruments of liability to meet the incremental credit demand. "This, as I emphasised elsewhere, may potentially expose the banking system to structural liquidity issues," he said.
The fast-growing Indian online gaming sector is facing a significant threat from money laundering, necessitating urgent steps to ensure its sustained success and protect the country's robust digital economy, a report said on Thursday. The essential measures outlined in a report by the Digital India Foundation include forming a dedicated task force for illegal operators, creating a whitelist of legal operators, combating misleading advertisements, and incorporating principles of financial integrity and international cooperation.
Many senior citizens 'underestimate the impact of inflation, taxation, health-related expenses, and the heavy premium they will have to pay on health insurance.'
Instead of only focusing on the tenure for which the best interest rate is available, investors should also focus on their own investment horizon.
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
The country's forex reserves touched a record high of $675 billion on August 2, Reserve Bank Governor Shaktikanta Das said on Thursday. The previous all-time high for the kitty was $670.857 billion on July 19 this year, and the last reported reserve was $667.386 billion as on July 26. Das said overall, the country's external sector "remains resilient" as indicated by an improvement in key indicators.
Customers of stressed Punjab & Maharashtra Co-Operative Bank (PMC Bank) will not get up to Rs 5 lakh insurance cover in the first lot as the multi-state co-operative bank is under the resolution process. Deposit Insurance and Credit Guarantee Corporation (DICGC) in the first lot will pay customers of 20 stressed banks except PMC Bank. For the first lot, the mandatory 90 days period concludes on November 30.
Crypto exchange WazirX has said customers affected by the recent cyber attack will not be able to recover their full funds even as the firm looks to restructure. At a virtual press conference, the firm's advisor said at best the company might look to return 55-57 per cent of the money. "This is what can be returned to users with the benefit of this restructuring," said Jason Kardachi, managing director (restructuring), Kroll.
The share of equity and investment funds in the total financial wealth of households increased by more than 50% between 2011-2012 and 2022-2023.
Jewellers initially feared the ban applied on them, too. However, after discontinuing their monthly schemes for almost two weeks, they've started accepting deposits again.
At 40 years and 126 days, Sunil Chhetri became the oldest hat-trick scorer in the ISL history
'It's advisable not to go overboard on a banking sector fund or any other sector fund.'
'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 central bank has highlighted that the slowdown in growth has been limited to a few sectors and overall growth is expected to pick up in the second half of the year.'
Riding on goals from Nihal Sudeesh and Leon Augustine, Punjab FC beat Odisha FC 2-1 here on Friday to clinch their second successive win in the ongoing Indian Super League season.
'Barring a temporary blip where stocks fell on verdict day, we are back to all-time highs.'
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
The Congress said that the move is meant to keep away candidates who are not serious.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The crater was formed during the Nectarian period, which dates back to 3.85 billion years and is one of the oldest time periods in the Moon's history, the team, including researchers from the Physical Research Laboratory and Indian Space Research Organisation (ISRO), Ahmedabad, said.
The Enforcement Directorate on Wednesday said it has attached fresh assets worth Rs 29.75 crore of fugitive diamond trader Nirav Modi under the anti-money laundering law. A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach these assets that are in the form of bank deposits, land, and buildings, it said in a statement.
The Union Government on Thursday said that 5.9 million tonnes of lithium reserves have been found for the first time in the country in Jammu and Kashmir. Lithium is a non-ferrous metal and is one of the key components in EV batteries. "Geological Survey of India for the first time established Lithium inferred resources (G3) of 5.9 million tonnes in the Salal-Haimana area of the Reasi district of Jammu and Kashmir," the ministry of mines said on Thursday.
The 30-year-old wrestler had quit wrestling following her disqualification from the 50kg gold medal match in the Paris Olympics.
The top court also took note of the fact that the complaint in the case was filed in August, eight years after the alleged incident took place in 2016.
Here's a simple recipe or breakfast or as an evening snack at home.
The BJP has emerged the second largest party by winning 29 constituencies in the maiden assembly polls post abrogation of Article 370 in Jammu and Kashmir, improving its all-time high tally of 25 seats recorded in 2014 elections.
Do not keep a large portion of your long-term portfolio in FDs.
India's financial sector is dominated by large government-owned and private-sector banks.
'Whether I am optimistic or pessimistic is not the issue; I am just going by the evidence available.' 'The Indian economy and financial sector are now well-placed and very resilient in dealing with any kind of spillover coming from the external world.'
Baraut's sub-divisional magistrate Amar Verma confirmed Musharraf's grandfather lived in Kotana.
Images from the Women's T20 World Cup match between India and Sri Lanka in Dubai on Wednesday.
If you fail to make the lump sum deposit before April 5, do so at least before the 5th of the next month (May). That way you will only lose out on the interest for April.
The Reserve Bank of India (RBI) on Wednesday released draft guidelines for streamlining the onboarding and monitoring of Aadhaar Enabled Payment System (AePS) operators to counter frauds perpetuated through the ecosystem. Banks and the National Payments Corporation of India (NPCI) are required to comply with these directions within three months from the date of issue of the guidelines.
Payments made by any person of an amount aggregating to Rs 100,000 or more in cash towards credit card dues will have to be reported.
Get a new QR code from an alternative provider. PhonePe, Google Pay, Pine Labs, etc are some of the other service providers.
'While investors need to be prepared for making some losses, they should not lose big money chasing euphoria amid fear of missing out.'
Re-rating of Axis Bank's stock may continue in the near-future, believe analysts, as the risk-reward on the stock remains favourable amid healthy financials. The bullish stance comes after the Mumbai-based lender delivered a strong outperformance in the March quarter of fiscal year 2023-24 (Q4FY24) on core pre-provision profit and net profit, with improving asset quality. Axis Bank's net interest margin (NIM) expanded, against expectations, even in a tough market.
'As these segments are growing at 25 per cent for the last three years, credit quality has been extremely good.'
