Loan Waiver Not a Benefit, Banks Exempt From 10% TDS on OTS: CBDT Clarifies
The Central Board of Direct Taxes (CBDT) has clarified in a circular that banks are not required to deduct 10% TDS on a one-time settlement...
Category : PERSONAL FINANCE
Indian Overseas Bank and Bank of Baroda Raise Lending Rates
Indian Overseas Bank increased the marginal cost of the funds-based lending rate (MCLR) by ten basis points. “A similar amount revised the two-year and three-year...
HDFC Bank Hikes MCLR Rates by 10Bps to 8.2%
On Wednesday, HDFC Bank raised the marginal cost of the funds-based lending rate (MCLR) by ten basis points to 8.2%. This is the bank’s fifth...
Kotak Mutual Fund Launches Business Cycle Fund
Kotak Mutual Fund (MF) has launched the Kotak Business Cycle Fund (KBCF), which will dynamically rotate its portfolio investments into different sectors that can benefit...
RBI Fines Rani Laxmibai Urban Cooperative Bank for Breaking Rules
The Reserve Bank of India (RBI) on September 5 fined Uttar Pradesh-based Rani Laxmibai Urban Cooperative Bank Rs 5 lakh for breaching norms related to...
HDFC Bank, SBI Plan to Raise Rs 10,000 Crore Via AT-1 Bond This Week
The Economic Times reported on September 5, citing people familiar with the matter, that banking giants HDFC Bank and State Bank of India (SBI) plan...
PSU Bank to Open Around 300 Branches in Unbanked Areas by December 2022
As part of the financial inclusion campaign, by December 2022, the public sector bank will open about 300 brick-and-mortar branches in unbanked areas of the...
MTNL Fails to Pay Rs 35.15 Crore Interest to Union Bank of India
Loss-making state-owned telecoms firm MTNL owed Rs 35.15 crore in interest as Union Bank of India is due in July, the company said in a...
Karnataka Bank Revises Interest Rates on Fixed Deposits of Less Than Rs 2 Crore
Karnataka Bank has adjusted the interest rates on fixed deposits under Rs 2 crore. According to the bank’s official website, the new rates will go...
Kotak Mahindra Bank Reports 5,278 Fraud Cases in Q1FY22-23, SBI 9 Only
According to the Reserve Bank of India (RBI) data, Leading private sector lender Kotak Mahindra Bank recorded as many as 5,278 fraud cases in Q1FY22-23...