Interim Budget likely to present a status report on National Pension System

Interim Budget likely to present a status report on National Pension System

New Delhi: The February 1 interim budget is likely to present a status report on the National Pension System (NPS), said people aware of the matter. The group headed by finance secretary TV Somanathan that’s reviewing the scheme is likely to submit its report by the end of this month, they said. The panel has … Read more

Samman RuPay Credit Card: IndusInd Bank floats UPI-enabled cards for government employees; Check details

Samman RuPay Credit Card: IndusInd Bank floats UPI-enabled cards for government employees; Check details

IndusInd Bank on Tuesday launched its UPI-enabled IndusInd Bank Samman RuPay Credit Card, in association with with National Payments Corporation of India (NPCI) especially for government sector employees. The cards have been launched for government sector employees to provide them with a range of exclusive benefits and enhance their overall banking experience. The Samman RuPay … Read more

Telangana yet to get Centre’s permission to raise market borrowings for Q4 

Telangana yet to get Centre’s permission to raise market borrowings for Q4 

Image for representation purpose only. | Photo Credit: K. Pichumani The Telangana Government has apparently landed in a piquant situation in raising resources through open market borrowings for the January-March quarter of the current financial year. The government, according to the indicative calendar of the Reserve Bank of India (RBI), indicated that it will raise … Read more

Latest fixed deposit (FD) rates: SBI, Bank of Baroda, Kotak Mahindra Bank, Federal Bank, DCB Bank hike FD rates; check details

Latest fixed deposit (FD) rates: SBI, Bank of Baroda, Kotak Mahindra Bank, Federal Bank, DCB Bank hike FD rates; check details

Bank fixed deposit (FD) rates: Fixed deposits (FD) have gained popularity, with some banks offering up to 9 per cent interest in different tenures. Some banks, public and private, have raised interest rates on fixed deposits in December. Since May 2022, FD investors have seen an upward interest rate trajectory with some public sector banks … Read more

Finance Minister Nirmala Sitharaman meets heads of PSBs, reviews financial performance

Finance Minister Nirmala Sitharaman meets heads of PSBs, reviews financial performance

New Delhi, Finance Minister Nirmala Sitharaman on Saturday held a meeting with heads of public sector banks and reviewed their financial performance. During the meeting, concerns related to cyber security and the risks on the financial sector were discussed, sources said. Issues related to fraud and wilful defaulters and progress on the National Asset Reconstruction … Read more

Year ender 2023: UPI transactions rose 147% in 5 years. A look at new features announced this year

Year ender 2023: UPI transactions rose 147% in 5 years. A look at new features announced this year

UPI transactions in 2023: India has witnessed an exceptional surge in Unified Payments Interface (UPI) transactions in 2023. In FY2022-23, 8,375 crore transactions were reported up from 92 crore transactions in FY 2017-18, showcasing a compound annual growth rate (CAGR) of 147% in terms of volume. UPI has emerged as a significant player in India’s … Read more

RBI may not have to drain cash further as core liquidity declines

RBI may not have to drain cash further as core liquidity declines

Mumbai: The Reserve Bank of India need not have to tighten liquidity any further as a metric cited by the central bank has fallen below levels that could stoke inflation, potentially paving the way for Mint Road to effectively deliver a rate cut by letting market rates ease from their current elevated levels. As of … Read more

Apex PE-VC body seeks govt’s help to ease AIF curbs

Apex PE-VC body seeks govt’s help to ease AIF curbs

Mumbai: The Indian Venture and Alternate Capital Association, or IVCA, is reportedly in discussions with central government officials to help ease the wide-ranging curbs the banking regulator imposed earlier this week on Alternative Investment Funds (AIFs), potentially choking institutional fund flows to a high-risk and hitherto lightly regulated investment vehicle experts believe could be misused … Read more

Sovereign Gold Bond 2023-24 tranche III: Here's how SGBs are taxed

Sovereign Gold Bond 2023-24 tranche III: Here's how SGBs are taxed

The Centre has recently launched the third series of Sovereign Gold Bonds (SGBs), which is pitched as a lucrative alternative to buying physical gold, for this financial year. The Sovereign Gold Bond Series 2023-24 Series III subscription period opened on December 18 and will close on December 22, 2023. Therefore, the date of issuance in … Read more

Banks open to exploring a pact on sharing default info with rating firms

Banks open to exploring a pact on sharing default info with rating firms

Mumbai: After every blow up in the financial markets, credit rating agencies (CRAs), often the whipping boys in a fiasco, complain how they have been kept in the dark by lenders and financial institutions holding back sensitive facts. Will this ever change? Hints are that it finally may. For the first time, leading banks have … Read more