The State Bank of India (SBI) has raised its Marginal Cost of Funds Based Lending Rate (MCLR) by 15 basis points across five tenures, effective October 15. The overnight and one-month rates remain unchanged. SBI has increased the MCLR for the three-month tenure to 8.40% from 8.25%, while the six-month rate has been raised to…
Axis Mutual Fund will launch an index fund tracking the Nifty EV & New Age Automotive Index on October 16, offering investors exposure to companies across the electric vehicle and broader automotive technology value chain. The new fund offer (NFO) for the Axis Nifty EV & New Age Automotive Index Fund will remain open until…
Getfive Funds has received approval from the Securities and Exchange Board of India (SEBI) to launch its second alternative investment fund (AIF), with a proposed corpus of ₹500 crore to invest in small and medium enterprises (SMEs), the company said on October 14. The proposed Category I AIF, Getfive Opportunity Fund II, will target emerging…
The Union government has approved changes to the National Social Assistance Programme (NSAP), including a new name and revised eligibility rules for disability pensions. The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the continuation of the programme for five years, from 2026-27 to 2030-31, with a total outlay of ₹53,428 crore. According to…
Bitcoin fell towards $81,000 on Thursday, October 15, as higher-than-expected US inflation revived concerns about interest rates staying elevated for longer. The decline extended across major cryptocurrencies, with Ethereum, XRP and Solana also trading lower amid selling pressure and liquidations in leveraged positions. Bitcoin was trading around $81,500, down about 2% over 24 hours, according…
Eligible users of the BHIM Payments App can now open a National Pension System (NPS) account through the Tatkal NPS facility without visiting a bank branch or submitting fresh paperwork, according to NPCI BHIM Services Limited (NBSL). The facility, introduced by the Pension Fund Regulatory and Development Authority (PFRDA), uses existing bank-verified KYC details to…
PB Money, an investment platform strategically partnered with Paisabazaar, has received a licence from the Securities and Exchange Board of India (SEBI) to operate as an Online Bond Platform Provider (OBPP), enabling it to facilitate bond investments through its digital platform. Paisabazaar is part ofPB Fintech, the listed parent company behind the financial products marketplace….
Hybrid specialised investment funds (SIFs) offer the potential for attractive returns, but risks vary by strategy. Edelweiss AMC’s Radhika Gupta and SIF360.com’s Sandeep Seth explain what investors should watch before investing. Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Readers should consult certified experts before making any…
The Madhya Pradesh government has released the 41st instalment of the Mukhyamantri Ladli Behna Yojana, transferring more than ₹1,834 crore to the bank accounts of over 1.25 crore eligible women on October 14, Chief Minister Mohan Yadav said. Under the scheme, eligible women receive monthly financial assistance of ₹1,500 directly into their bank accounts. The…
Urban Indian households are likely to spend an average of ₹20,000 on discretionary purchases this festive season, with total urban festive spending estimated at ₹1.97 lakh crore, down 6% from 2025, according to a survey by LocalCircles. The estimate compares with ₹2.10 lakh crore in 2025 and ₹1.85 lakh crore in 2024. LocalCircles attributed the…
