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The Latest Breaking News from Adhil Shetty

8th Pay Commission news: Pensioners' body in Chennai recommends 3.83 fitment factor; but can 8th CPC deliver it?

8th Pay Commission latest news: In a bold move, multiple employee unions are pushing for a minimum pay of Rs 69,000 in the 8th Pay Commission. Their demands include a fitment factor of 3.833, marking a significant hike compared to past commissions. Unions justify these demands through consumption basket assessments…

The Economic Times

Should you have multiple bank accounts? Here’s how many you really need

Should you keep all your money in one bank account or spread it out? While multiple accounts can aid in budgeting and offer deposit insurance benefits, they can also complicate finances. Discover the ideal number of accounts for your needs and when opening another truly makes sense.

The Economic Times

Can an NRI be a nominee for PPF, NSC or SCSS? Here’s what happens to the money after the account holder dies

NRIs can now be nominees for India's small-savings schemes like PPF and NSC, a change from 2023. While they can receive proceeds, repatriation abroad is restricted and subject to FEMA and banking rules, typically requiring crediting to an NRO account first. Understand the nuances before naming an NRI nominee.

The Economic Times

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Hidden risks of FCNR (B) deposit investment and leverage: Why high interest rates may not tell the full story

FCNR(B) deposits have become attractive to investors looking for significant returns in US dollars, largely thanks to government hedging strategies. However, experts warn that investors must be aware of currency and liquidity risks. While leverage can enhance profits, it can also lead to considerable financial losses. Additionally, taxation can bite…

The Economic Times

Income tax for senior citizens: No salary after retirement? These 7 incomes can still attract tax; know what is exempt

Retirement is not synonymous with tax freedom. Your pensions, interest income, rental earnings, and capital gains may still incur taxes. It's crucial to identify which income streams are subject to taxation and which advantages remain untaxed to prevent errors and manage your finances wisely. Learn strategies to legally minimize your…

The Economic Times

Defaulted on your loan? Here's what banks can legally do and what they can't

Missing a single loan EMI doesn't lead to immediate bank intervention; instead, lenders often issue reminder calls and formal notices first. For secured loans, repossession of assets follows legal procedure, while unsecured loans depend on collection efforts. Recovery agents must uphold borrower dignity, refraining from harassment. Engaging proactively with lenders…

The Economic Times

19x leverage on FCNR(B) deposits and high returns may not work for NRIs based in Singapore in this case

FCNR (B) FD: For NRIs, the potential gains from FCNR(B) deposits may be undermined by Singapore's tax policies. Interest earnings from Indian banks are recognized as originating from Singapore, triggering local taxes that can diminish effective yields on these deposits. Conversely, payments made to Indian banks' Singapore branches do not…

The Economic Times

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RBI policy: Will high-interest rate cycle return for FD investors as RBI holds repo rate amid rising inflation?

RBI MPC repo rate: The Reserve Bank of India maintained its repo rate at 5.25 percent today. Inflation is nearing the upper tolerance band, which could prompt future rate hikes. Banks monitor deposit-credit ratios and government security yields for rate decisions. High interest rates on small savings schemes also influence…

The Economic Times

Will FD investors get higher interest rates as Iran-US war continues and inflation shoots?

Rising inflation and increased credit demand are pushing banks towards higher fixed deposit rates. Banks are also facing competition from small savings schemes and government securities. Deposit growth has slowed while credit demand has climbed significantly in recent months. This widening gap may compel banks to attract more deposits through…

The Economic Times

Can a shop charge you extra for paying by credit card? Here's what every card user should know

Can merchants legally charge customers extra for credit card payments? The Reserve Bank of India regulates these payment systems and card acceptance rules. Consumers should check final amounts and report unauthorized transactions immediately.

The Economic Times

New tax regime: Save up to Rs 65,500 in tax through your employer's NPS contribution; here's how to claim it

Section 80CCD(2) provides a tax deduction for employer contributions to NPS. This benefit remains available under the new tax regime for salaried individuals. Private sector employees switching to the new regime find this deduction particularly attractive. Employer contributions lower taxable income and build retirement savings simultaneously.

The Economic Times

Can banks increase FD interest rates as inflation crosses RBI’s target of 4%?

Rising inflation has crossed the Reserve Bank of India's target, signaling potential repo rate hikes. Higher inflation and increased credit demand suggest banks might raise fixed deposit interest rates soon. Banks monitor deposit growth and credit demand before adjusting their fixed deposit rates. High yields on government securities and small…

The Economic Times

Forgotten FDs, shares or insurance? Here’s how to recover unclaimed financial assets

Years of diligent wealth building can be lost to forgotten investments. Life's changes often lead to unclaimed bank deposits, insurance, shares, and mutual funds. Fortunately, the government's Unclaimed Assets Portal offers a single search point. While it helps locate these assets, remember it's a search tool, not a claim settlement…

The Economic Times

RBI floating rate bond : Has 8.05% interest rate changed? Here's what investors should know

The Reserve Bank of India has maintained the Floating Rate Savings Bond interest rate at 8.05% following the Finance Ministry's decision to keep the National Savings Certificate rate at 7.7%. This bond offers a 0.35% premium over the NSC, providing a competitive return compared to many small savings schemes and…

The Economic Times

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The Economic Times

NRI credit cards: Rewards and lounge access aren’t everything, what more NRIs should know before getting an Indian credit card

For Non-Resident Indians (NRIs), an Indian credit card offers significant benefits beyond convenience, including building a crucial CIBIL score for future borrowing and simplifying rupee-denominated expenses. While unsecured cards are increasingly available, understanding forex charges, repayment mechanisms, and FEMA compliance is vital before applying.

The Economic Times

NRE vs NRO: One account can make your interest tax-free, the other can attract over 30% TDS

NRIs and OCIs can use NRE accounts for overseas income and NRO accounts for India-sourced income, but tax treatment differs sharply. NRE interest is tax-free in India, while NRO interest attracts TDS and taxation. However, DTAA benefits may reduce the tax burden on NRO income and help avoid double taxation.

The Economic Times

FCNR deposit in demand: $1,277 extra interest on $10,000 investment by NRIs after RBI's latest move?

FCNR interest rates: The Indian government will now cover hedging costs for fresh 3 to 5-year FCNR(B) deposits until September 30, 2026. This move allows banks to offer higher interest rates to Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs). An NRI may now earn an additional $1,277 on…

The Economic Times

Increase in limits for NRI and OCI investors to invest in stock market without SEBI registration, RBI Guv

The Reserve Bank of India has boosted investment limits for non-resident Indians, Overseas Citizens of India, and other individuals residing abroad. This move allows them to invest more in the Indian stock market without requiring SEBI registration. The enhanced limits offer greater flexibility for foreign investors looking to participate in…

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The Economic Times

RBI MPC Meeting 2026: Will FD interest rates increase as RBI holds repo rate?

Despite the RBI keeping the repo rate unchanged, several factors suggest banks may increase fixed deposit rates soon. Rising inflation, a high deposit-credit ratio, and attractive small savings schemes are pushing banks to offer better returns to attract investors after a period of low FD rates.

The Economic Times

Will rising inflation bring good news of higher interest rate for FD investors in coming RBI MPC meeting on June 5

The RBI is widely expected to keep the repo rate unchanged at 5.25% in the June 5 MPC meeting despite concerns over rising fuel prices, a weaker rupee and geopolitical tensions. Experts believe FD rates are unlikely to rise soon as liquidity conditions, credit growth and deposit growth have stabilised.…

The Economic Times

EPFO: When can EPF interest be credited to your account? Check here

EPFO subscribers are awaiting their FY 2025-26 interest credit, despite the 8.25% rate announcement in March. While delays are common due to government approval and account reconciliation, experts assure members that interest accrues monthly and won't be lost. EPFO calculates interest on the running balance, ensuring full credit even with…

The Hindu

Explained | RBI’s proposal for interoperability of credit and debit cards

The Reserve Bank of India has proposed that card issuers be mandated to provide customers with the choice of multiple card networks, instead of only specific networks with which the bank has exclusive agreements

The Times of India

Fixed Deposit rates at 7.5%: Who is offering the best FD rate right now?

After a 225 basis points repo rate hike by the Reserve Bank of India (RBI) in the last seven months, banks have started passing on the benefits of the rate hike to fixed deposit holders.

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