HDFC Bank has reduced its Marginal Cost of Funds-based Lending Rates (MCLR) on select short-term tenures by up to 5 basis points (bps), offering marginal relief to a segment of borrowers. The revised rates come into effect from April 7, according to information published on the bank’s website. A basis point is one-hundredth of a…
InCred Alternative Investments has announced the final close of its maiden special opportunities credit fund at its hard cap of ₹1,500 crore, taking its total assets under management (AUM) in private credit strategies to over ₹4,000 crore. The fund, InCred Special Opportunities Fund-I (ISOF-I), is a Category II, close-ended Alternative Investment Fund (AIF). It received…
Axis Bank has rolled out a significant update to its Travel Edge rewards programme for credit cards. The changes go beyond routine tweaks—they reshape partner access, reduce conversion value in several cases, and tighten how rewards can be used. Here’s a breakdown of what has changed and how it may affect cardholders. What’s changed in…
“Understanding the difference between top-up and super top-up is essential for managing long-term medical costs,” said Vivek Chaturvedi, Chief Marketing Officer and Head of Direct Sales at Digit Insurance. He added that while both products may appear similar, they function very differently when multiple hospitalisations occur within a year. Chaturvedi noted that this often leads…
India’s tax compliance framework is set for a structural tweak with the introduction of Form 121, which replaces the widely used Form 15G and Form 15H. The shift, aligned with the upcoming Income-tax Act, 2025, aims to simplify declarations used to avoid tax deducted at source (TDS)—but it also changes how and who files them….
The issue of dormant Employees’ Provident Fund (EPF) accounts is back in focus as the Employees’ Provident Fund Organisation (EPFO) pilots an automated system to transfer unclaimed balances directly into subscribers’ Aadhaar-linked bank accounts. The first phase of the initiative will cover around 8.1 lakh inoperative accounts worth an estimated ₹5,200 crore. The move is…
Gold and silver prices edged lower in early trade on Tuesday, April 7, tracking volatile global cues as investors weighed geopolitical developments and awaited key macroeconomic signals. On the COMEX, gold slipped 0.61% to $4,656.10 per ounce. Silver declined 0.63% to $72.39 per ounce, with prices moving in a range of $71.67–$73.51 an ounce. The…
DSP Asset Managers has appointed Anish Tawakley as its Chief Investment Officer (CIO), with responsibility for overseeing both equity and fixed income investments across the firm. Tawakley joins from ICICI Prudential Asset Management Company, where he was Co-Chief Investment Officer – Equities. He brings close to three decades of experience across equity research, portfolio management,…
Bajaj Alternate Investment Management Ltd (Bajaj Alts), a subsidiary of Bajaj Finserv, has received approval from the Securities and Exchange Board of India to commence portfolio management services (PMS), according to a company statement. The regulatory clearance allows the firm to expand into listed equities through PMS offerings, adding to its existing alternative investment funds…
Gold and silver prices in India extended losses on Friday (March 13), tracking global trends as higher oil prices, a stronger US dollar and uncertainty over interest rates weighed on bullion sentiment despite escalating geopolitical tensions. On the domestic commodities exchange, MCX gold futures were trading 0.27% lower at ₹1.59 lakh per 10 grams, while…
