IDFC FIRST Bank revises savings account interest rate, offers up to 7% [ad_1] IDFC FIRST Bank has revised interest rates on its savings accounts, with effect from February 15, 2023. Interest on savings accounts will be calculated in a progressive manner for IDFC First Bank customers. According to the bank website, for savings account balances up to Rs.10 lakh the ...

RBI may be selling dollars in NDF to keep rupee above 83/USD: Bankers By Anushka Trivedi and Nimesh Vora MUMBAI (Reuters) – The Reserve Bank of India has likely been selling dollars in the non-deliverable forward (NDF) market this week to prevent the rupee from weakening past 83 per dollar, five bankers told Reuters on ...

IndusInd Bank offers up to 7.5% FD interest rate to general public, 8.25% to senior citizens [ad_1] IndusInd Bank has increased interest rates on fixed deposits with balances under Rs 2 crore. According to the bank’s website, the new rates are effective from February 16, 2023. After the hike, regular depositors can now earn the highest interest rate of up ...

EPFO update: What happens to EPF account’s interest if employer fails to deposit contribution [ad_1] To avoid paying penalties and interest, employers must make sure Employee Provident Fund (EPF) contributions are made on time. According to a ruling made by the Supreme Court in February 2022, an employer is required to cover damages if an employee’s Employees’ Provident Fund (EPF) ...

Rupee depreciates 8 paise to 82.78 against US dollar in early trade The rupee depreciated 8 paise to 82.78 against the US dollar in early trade on Friday, weighed down by a strong American currency and a muted trend in domestic equities. At the interbank foreign exchange, the domestic unit opened weak at 82.77 against ...

senior citizens pension tips: Rs 69,150 monthly income with govt guarantee: How senior citizens can invest to build their own pension [ad_1] Getting a government pension, which is a safe and guaranteed regular income, after retirement has always been a dream for many people. While everyone cannot be eligible to get a government pension, you can generate a good amount ...

India setting up $4 billion fund to backstop corporate debt market India is setting up a fund worth Rs 33,000 crore ($4 billion) to provide liquidity to its corporate debt market during bouts of stress, to help stem panic selling and ease redemption pressures, an SBI Mutual Fund executive told Reuters. The government will provide ...

Kotak Mahindra Bank FD interest rates: Kotak Mahindra Bank hikes FD interest rates: Senior citizens can earn up to 7.70% [ad_1] Kotak Mahindra Bank increased the interest rates on its fixed deposits for the second time in a month, making them more lucrative for the citizens. The new FD rates for amounts below Rs 2 crore will take effect on ...

RBI makes changes in NEFT, RTGS for daily reporting of foreign remittances With the Home Ministry mandating SBI to report all details of overseas donors, including purpose of remittances on daily basis, the Reserve Bank of India (RBI) on Thursday made necessary changes in NEFT and RTGS systems for Foreign Contribution (Regulation) Act (FCRA) related transactions. ...

Tax saving options for salaried individuals [ad_1] Section 80C deduction An individual can claim maximum deduction of Rs 1.5 lakh. One must invest in any of the specified instruments such EPF, PPF, tax-saving FDs, ELSS etc. Some of the expenses are payment of school fees, life insurance premium, principal repayment of home loan etc. [ad_2]