If you are planning to lock your savings in a fixed deposit (FD), it is reasonable to check the interest rates offered by different banks. Although most depositors prefer to open a term deposit account with a bank with which they share a long-term banking relationship, one can consider opting for a new bank so … Read more
PIB Fact Check: The government’s Press Information Bureau (PIB) has warned unsuspecting customers to be aware of a ‘SBI Rewards’ scam being used by fraudsters. In a post on social media platform X (formerly known as Twitter), the PIB Fact Check account warned users “never to download unknown files or click on links”. PIB Warns … Read more
India’s household savings as a proportion of our GDP is declining. In its latest Financial Stability Report (June 2024), the Reserve Bank of India has also noted that while net financial savings have declined in 2022-23, financial liabilities have gone up thanks to retail loans for consumption and investment. Rise of personal loans The personal … Read more
If you regularly invest in foreign exchange (forex), then make sure you do so through genuine and authorised trading platforms. There could be a scenario wherein a fake trading platform entices you into investing in foreign currency pairs. The Reserve Bank of India (RBI) recently updated its Alert list to warn investors against investing via … Read more
On 8th August 2024, the Reserve Bank of India (RBI) made an important announcement about the frequency of credit information reporting by banks/NBFCs to credit information companies (CICs) like CIBIL and others. What is this announcement, from when is it applicable, and how will it help banks/NBFCs and borrowers? Let us understand. Credit information to … Read more
The annual festival season that typically sees a scramble for gold may see a fall in demand this time, the first in four years, as runaway prices put the yellow metal out of reach for many Indians. Gold price nearing ₹80,000 per 10 gm has curbed new purchases and turned customers to exchanging old ornaments … Read more
After keeping the benchmark interest rate unchanged for ten consecutive meets, Reserve Bank of India (RBI) is expected to cut the repo rate in the next monetary policy committee (MPC) meet scheduled in December. It is, therefore, recommended to lock your savings in fixed deposits (FDs) for as long as possible, argue experts. “If your … Read more
State Bank of India (SBI) has revised its marginal cost of funds based lending rate (MCLR) with effect from October 15, 2024. The interest rates across all other tenures remain the same, however, MCLR for one-month tenor has been slashed from 8.45 to 8.20 per cent. Interest rate for overnight tenure stands at 8.20 percent … Read more
The Government of India has announced the buyback of its securities through auction for an aggregate amount of ₹25,000 crore (face value), announced Reserve Bank of India (RBI) on Friday. The G-securities with coupon rate of 7.72 percent will mature on May 25 next year. The securities with coupon rate of 5.22 percent will mature … Read more
If you are planning to open a fixed deposit (FD) account, it is advisable to first compare the interest rates offered by different banks. Although depositors tend to opt for the bank with which they share a long-term relationship, they can still choose a bank that gives them a higher rate of interest on fixed … Read more