Global financial messaging network Swift has announced that its blockchain-based ledger is ready for initial use, with 17 banks across six continents preparing to pilot live cross-border transactions using tokenised deposits. The initiative marks one of Swift’s biggest moves into blockchain-enabled financial infrastructure and is aimed at supporting round-the-clock international payments while continuing to operate…
AU Small Finance Bank (AU SFB) has partnered with Zaggle Prepaid Ocean Services to launch a co-branded retail credit card that offers rewards on UPI, contactless and e-commerce transactions, as lenders and fintech firms continue to expand their credit card offerings through partnerships. The AU Zaggle Co-Branded Retail Credit Card will be available on both…
Gold and silver prices remained under pressure in international markets on Friday (July 10), even as geopolitical tensions in West Asia and uncertainty over the US Federal Reserve’s policy path continued to keep investors cautious. COMEX Gold was trading at $4,126.20 an ounce, down 0.35%, while COMEX Silver fell 0.44% to $60.48 an ounce in…
Edelweiss Mutual Fund on Thursday (July 9) announced a restriction on fresh subscriptions in seven designated schemes due to the nearing threshold of its available headroom for overseas investments. The fund house said new monthly Systematic Investment Plans (SIPs) and monthly Systematic Transfer Plans (STPs) in these schemes will be suspended with effect from the…
Retail investors are continuing to invest through systematic investment plans (SIPs) even as equity markets remain volatile, reinforcing what many fund managers describe as a structural shift in investing behaviour rather than a cyclical trend. The latest Association of Mutual Funds in India (AMFI) data showed SIP contributions remained resilient, extending a trend that has…
India’s new EPF Scheme 2026 ends the automatic rule requiring employees and employers to each put 12% of basic wages into the provident fund. Tax experts Puneet Gupta of EY India and Parizad Sirwalla of KPMG explain that companies and staff can now choose to contribute just ₹1,800 a month instead, giving employees more take-home…
Insurance buyers in India are no longer settling for the first quote they get and new data suggests that habit is paying off, sometimes literally saving them tens of thousands of rupees a year. An analysis by Policybazaar, shows that a growing share of customers now shop around before buying health, term life and motor…
India’s consumer credit market is undergoing a structural shift, with personal loans and consumer finance products replacing credit cards as the preferred entry point for first-time borrowers, according to Bhavesh Jain, Managing Director and CEO of TransUnion CIBIL. The trend is changing how lenders acquire customers, with banks now competing for a larger share of…
As taxpayers begin filing income tax returns for financial year 2025-26 (assessment year 2026-27), those claiming deductions for donations under Section 80G of the Income-tax Act should note the documentation and disclosure requirements applicable this year. While the deduction provisions under Section 80G remain unchanged, taxpayers claiming the benefit will need to ensure that the…
Filing an income tax return (ITR) after the due date can lead to more than just a late filing fee. Under Section 234A of the Income-tax Act, taxpayers may also have to pay interest if they have any outstanding tax liability at the time of filing. However, the interest is not levied simply because the…
