State Bank of India (SBI) has reduced its savings bank account interest rate to 2.5% for all account balances, effective June 15. This change follows a 50 basis point reduction in the repo rate by the Reserve Bank of India (RBI) last week. Last time SBI cut savings bank rates was on October 15, 2022
A few years ago, a friend faced a sudden job loss in Mumbai. And with the high rentals in Mumbai, clubbed with the astronomical cost of living in general, life became tough. So, with rent due and not much savings to fall back on, he maxed out his credit card, paying huge sums in interest
If you are planning a long-term investment in mutual funds and are looking for a fund that can give returns of crores over time, then ICICI Prudential Multicap Fund can be a strong option for you. This is the oldest scheme of ICICI Prudential Mutual Fund House, which was launched in October 1994. So far
The long-pending issue of tax relief on life and health insurance premiums is likely to be discussed in the upcoming GST Council meeting. According to reports, the Group of Ministers (GoM) constituted on insurance matters may recommend full GST exemption on life insurance and health insurance policies of senior citizens, reiterating its previous recommendations. Ahead
Two weeks after opening the ITR filing for AY 2025-26, the Income Tax Department on June 10 released the Common Offline Utility (COU). Offline utilities (JavaScript-based/JSON utility) are built on the latest system architecture adopted by the Income Tax Department. The Income Tax Department often releases utilities in multiple phases to ensure smooth rollout, gradual
Mutual funds in India are expected to increase their investments in short-term corporate bonds in the coming weeks, buoyed by a surge in inflows and surplus liquidity, according to fund managers. In May 2025, corporate bond funds recorded net inflows of ₹119.8 billion (approximately $1.40 billion)—the highest in two years and more than triple the
The global uncertainty and geopolitical tension including the Operation Sindoor has led to significant investor caution across the mutual fund industry. The inflows to equity funds dropped sharply in May to Rs 19,013 crore — the lowest level since April 2024 — according to data released by the Association of Mutual Funds in India (AMFI). Additionally
The Department of Financial Services (DFS) has directed public sector banks (PSBs) to focus on selling insurance products along with their core banking objective, according to a CNBC TV report. Acknowledging the importance of public sector banks to meet ‘Insurance for All by 2027’ target, the DFS has asked PSU lenders to focus on insurance
The government has notified the income tax rules, under which two new tax limits have been fixed on perquisites (non-salary benefits) given by the employer to the employees. These changes will especially affect those employees whose income is low or who get different types of facilities from the employer. The amendment notified on 18th August
The Central Bureau of Investigation (CBI) on Saturday registered a case against industrialist Anil Ambani and carried out searches at his residence as well as the premises of Reliance Communications Ltd. in connection with an alleged bank fraud that caused a loss of over ₹2,929 crore to the State Bank of India (SBI). ALSO READBank
All eyes are on the Tata Capital IPO. This Tata Group company has to mandatorily list its shares on the stock exchanges by September 30, 2025. This is as per a Reserve Bank of India (RBI) directive that mandates that after being identified as an NBFC upper layer, the company needs to be listed within
WHENEVER A NON-RESIDENT Indian (NRI) sells a property, the buyer has to deduct tax on the gross sale consideration rather than on the actual taxable gains. However, there’s a way out to ensure that tax is withheld only on the real capital gains arising from the sale and not on the entire transaction value. For this
After being formally separated from gambling-based segments, esports are now eyeing towards becoming a far more attractive proposition for mainstream corporate sponsors and institutional investors. Esports’ Rise vs. RMG’s Decline Esports, which traditionally depends on sponsorships and media rights, is now expected to grow fan-led monetisation through event ticketing, merchandise and digital engagement. Big brands
