State-owned Bank of Baroda and Canara Bank on Wednesday, June 10, said they have reviewed and revised their Marginal Cost of Funds Based Lending Rate (MCLR) across tenors, effective June 12, 2026. Bank of Baroda As per the revision, the overnight MCLR has been increased from 7.80% to 7.85%, while the one-month MCLR has moved…
1 / 5 HDFC Bank: Higher NRI Returns: HDFC Bank has raised FCNR(B) deposit rates for the 3-5 year maturity bucket by up to 260 basis points to 6%, following the RBI’s decision to absorb hedging costs under its forex swap facility aimed at attracting foreign currency inflows. 2 / 5 PNB: Dollar Inflow Push:…
India’s life insurance industry added more than ₹10,000 crore in new business premiums during the first two months of FY27, driven by strong growth in individual and group segments, even as policy growth remained relatively modest. According to provisional data released by the Life Insurance Council, the industry’s cumulative new business premium (NBP) for April-May…
Nuvama Wealth Management has received final approval from the Securities and Exchange Board of India (SEBI) to commence mutual fund operations through its asset management subsidiary, Nuvama Asset Management Limited, marking its formal entry into India’s mutual fund industry. With the approval in place, the asset management arm will act as the Asset Management Company…
Filing an Income Tax Return (ITR) can vary depending on a taxpayer’s residential status, income sources and the ITR form applicable to them. Taxpayers can file their returns online through the Income Tax Portal or use the offline utility before uploading the return. The Central Board of Direct Taxes (CBDT) has enabled online e-filing and…
AU Small Finance Bank has revised its deposit interest rates across fixed deposits (FDs), recurring deposits (RDs) and foreign currency non-resident (FCNR) deposits, effective June 10. The revision increases the peak domestic deposit rates for both general and senior citizen customers. For retail term deposits, the bank now offers up to 7.40% per annum on…
Visa has announced an expanded value proposition for its Platinum and Classic consumer credit and debit card portfolio in India, aimed at providing ongoing benefits across selected spending categories. The updated offering, which the company says covers a large-scale rollout across its card base, is targeted at more than 290 million cards in India. It…
The Securities and Exchange Board of India (SEBI) has issued a consultation paper seeking public comments on proposed changes to the disclosure framework for executive remuneration in Asset Management Companies (AMCs). The regulator aims to rationalise existing requirements while maintaining meaningful transparency for investors. Objective of the proposal According to SEBI, the review is intended…
Systematic Investment Plan (SIP) inflows in mutual funds slipped marginally to ₹30,953 crore in May from ₹31,115 crore in April, according to data released by the Association of Mutual Funds in India (AMFI). Despite the slight dip, SIP contributions remained above the ₹30,000 crore mark for the third consecutive month. On a year-on-year basis, SIP…
Paisabazaar, a financial marketplace, and SBM Bank India have announced the launch of a fixed deposit (FD)-backed secured credit card, named SBM Paisabazaar Paisa+ Credit Card, aimed at consumers with limited or no credit history. The card is designed as a credit-building product where users can open a fixed deposit and receive a credit card…
