The U.S. dollar extended its slide against other major currencies on Monday, the latest sign that investors may be starting to shun what has long been the safest haven in global financial markets. An index that tracks the dollar against a basket of major trading partners fell for a fifth straight day, even as U.S. … Read more
The Reserve Bank of India’s Monetary Policy Committee (MPC) has announced a 25 bps reduction in repo rates to 6% from 6.25% and has also shifted its stance from ‘neutral’ to accommodative. With this, it is expected that the home loan rates might go down. So far, home loan borrowers are experiencing a positive year … Read more
Post Office Savings Accounts (POSA) have emerged as a favourable option for individuals opting for the new tax regime, offering specific tax benefits not available with regular bank savings accounts. While savings accounts generally lack substantial tax advantages, POSAs provide exemptions that make them attractive to savers. The post office offers superior interest rates compared … Read more
In a recent announcement, the Centre has decided to maintain the current interest rates on post office savings schemes for the period from April to June 2025. This decision was confirmed through a circular issued by the Department of Economic Affairs under the Ministry of Finance on 28th March 2025. This decision affects a range … Read more
The upcoming financial year 2025-26, which commences on April 1, 2025, is poised to enhance the disposable income of numerous taxpayers nationwide, courtesy of recent policy changes. Finance Minister Nirmala Sitharaman introduced a Budget that is favourable to the middle class, introducing a range of tax benefits aimed at increasing the funds available to ordinary … Read more
Credit cards, while offering convenience and rewards, often come with fees that are not immediately apparent to the cardholder. These hidden charges can inflate the cost of using a credit card significantly. Understanding these fees can help you save money, budget effectively, and optimise the benefits of your card. Among the most common charges are … Read more
Kolkata: Personal loan growth moderated in the quarter to December following regulatory cautioning over possible overheating. The annual growth print for the personal loan segment was recorded at 13.7% at the end of December 2024 from 15.2% at the end of September, Reserve Bank of India’s quarterly data showed. Total bank credit growth also decelerated … Read more
Punjab National Bank (PNB) updated interest rates on its retail loan portfolio effective February 10, 2025, in response to evolving market dynamics for enhanced competitiveness. This development was outlined in a press release issued by the bank on February 20, 2025. The revised rates encompass a range of loan products including home loans, auto loans, … Read more
Finance Minister Nirmala Sitharaman in Budget 2025 introduced a revised threshold for TDS compliance for individuals, senior citizens, and companies. This adjustment aims to provide taxpayers with a means to reduce the amount of tax deducted from their income, while also assisting companies in simplifying their TDS compliance process. The proposed threshold has been increased … Read more
U.S. inflation rose to 3 percent in January, strengthening the case for the Federal Reserve to extend a pause on interest rate cuts. The Consumer Price Index unexpectedly ticked higher from a year earlier, data from the Bureau of Labor Statistics showed on Wednesday, up from 2.9 percent in December. Compared to December, consumer prices … Read more